Bask Bank CD Rates for October 2024
Written by
Dawn Allcot
Edited by
Elizabeth Constantineau
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Bask Bank was the first online-only savings bank in the U.S. Launched in 1999 as a division of Texas Capital Bank, Bask offers high-yield savings accounts and CDs. Funds deposited in Bask Bank are insured up to $250,000 per depositor for each account ownership category by the Federal Deposit Insurance Corp., which means your money is safe if the bank folds.
If you are looking for high-yield CDs, online banks offer some of the best rates. Keep reading to find out more about the rates that Bask Bank is offering.
Bask Bank CD Rates
Bask Bank offers CDs in terms ranging from three months to 24 months. All CDs through Bask require a $1,000 minimum deposit to open the account. Here is a look at the current Bask Bank CD rates.
| Term | APY |
|---|---|
| 3 months | |
| 6 months | |
| 9 months | |
| 12 months | |
| 18 months | |
| 24 months |
The APY signifies the yield on a 365-day basis, including compounding interest and reinvestment into the account.
Bask Bank Savings Account Interest Rate
If you would like more flexibility to withdraw your money at any time, a Bask Bank Interest Savings account might be a better option. The Bask Bank savings account also has no minimum deposit and no minimum daily balance requirement, but you must fund the account within 15 business days of opening it.
Right now, Bask Bank’s savings account has an APY of . That is higher than the APYs for most CD terms. Plus, there are no early withdrawal penalties or monthly fees.
How To Open a Bask Bank CD
If you’ve researched your options and decided a Bask Bank CD is the right option for your short-term to midterm savings, the Bask website makes it easy to open an account online. Simply choose “Open Account” on the CD page of its site, and then follow the prompts to open your CD account.
You will need a government-issued ID, such as a driver’s license, your Social Security number and a mobile device for account verification. You will also need information like your address, phone number and income.
You have 10 business days from opening your account to fund your CD with a minimum of $1,000 or the account will be closed. You can fund your account from another bank through ACH, deposit a check using the mobile deposit feature on the Bask Bank mobile app, or initiate a wire transfer to Bask Bank from another bank account.
Final Take
CDs offer a convenient way to grow your money with guaranteed returns. Before you open a CD account, make sure you are willing and able to keep your funds tied up for the entire duration of the CD term. Take the time to review any account details, as CDs may be subject to early withdrawal penalties.
Thanks!
FAQ
- Who has the highest 12-month CD rate?
- Some of the highest 12-month CD rates can be found at Bask Bank, First Internet Bank and Bread Savings.
- What is the highest-paying CD rate right now?
- Some online banks are offering 4.00% APY or higher for CDs. Bread Savings and First Internet Bank are among the banks offering some of the highest-paying CDs right now.
- Which bank gives 7% interest on savings accounts?
- U.S. banks and credit unions currently do not offer 7% interest on savings accounts.
- Does Bask Bank offer CDs?
- Bask Bank does offer CDs with a variety of terms and interest rates. All Bask Bank CDs require a $1,000 minimum deposit to open the account.
- Bask Bank also offers savings accounts and an interest-bearing checking account.
More on Bask Bank
- Bask Bank Review: Online Convenience With High-Yield Savings and Airline Miles
- Bask Bank’s Interest Savings Account Review: High-Yield Savings That Gives You More
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Oct. 10, 2024.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
