1. Bank Of The West Cd Rates Annuity
2. Bank Of The West Cd Promotion
3. Bank Of The West Cd Rates Special Promotion
4. Bank Of The West Cd Rates As Of Today

Certificates of deposit (CDs) are a safe way to deposit money and guarantee a return. City's fixed-rate CDs feature competitive rates and offer several term options - so you can choose when your money matures. This predictability can make it easier to estimate your earnings and plan for the future.

Certificates of Deposit and Individual Retirement account specials:¹

A CD with Bank of America can help you grow your savings, but you are not working with the best rates on the market. Many banks offer higher rates that you shouldn’t ignore. Bank of the West Flexible-Term CD Rates + Account Details. Bank of the West is member FDIC and all consumer deposits are federally insured up to the applicable limits. Their Flexible-Term CDs require a minimum deposit of $1,000 and must be opened in a branch. Bank of the West Flexible-Term CD Rates. A CD, or certificate of deposit, is a bank account with a fixed interest rate that’s generally higher than that of a regular savings account, and a fixed date of withdrawal, known as the.

Other terms and rates available.

A CD is a special type of deposit account that can be a great option if you want a low-risk investment to help your money grow. Our certificates of deposit let you earn interest that’s generally higher than a regular savings account. They can be a good way to diversify beyond your current savings account, depending on your needs. With certificates of deposit, you can enjoy steady income, along with the security of having fixed rates for fixed terms.

Limited time offer. CD available to current City customers only. Penalty for early withdrawal, which may decrease earnings.
¹ Minimum deposit of $5,000 required.
² Annual Percentage Yield (APY) assumes funds remain on deposit for a full year at the listed rate or until maturity. APY is accurate as of 2/17/21 and may change without notice.

• Relatively high interest rates

• No term options of less than one year
• Only has branches in a few states

• Florida residents
• Customers with savings goals of more than one year

BankUnited, which has branches in Florida and the New York metro area, offers respectable interest rates on its certificate of deposit (CD) accounts, though some of the best CD rates on the market are still quite a bit higher. The minimum deposit to open an account is $1,000. That’s high but isn’t out of line with similar banks. Unlike some other banks, BankUnited does not offer higher rates for customers who contribute more to their account.

Whether or not you choose BankUnited will also depend on your individual goals. There are only six term options to choose from and the shortest is 12 months. So if you have a need for extra liquidity and aren't prepared to tie up your cash for a year, you'd be best served looking elsewhere for CDs with shorter tems. If parking that cash in a CD works with your financial strategy, you can reap the rewards of relatively robust interest rates.

Below is a rundown of the information you need to decide if a BankUnited CD account is right for you.

12-Month CD Interest Rate Comparison

Overview of BankUnited CDs

BankUnited has its headquarters in Miami Lakes, Florida and the majority of its branches are in Florida. It also has some branches in the New York City metro area. You will need to live in one of those two areas to open a CD with BankUnited.

There are relatively few CD options from BankUnited (just six) and they range in term length from 12 months to 60 months. Longer CDs have higher interest rates. To learn the current interest rates, you should contact a local branch.

All CDs require a minimum opening deposit of $1,000 and compound interest daily. BankUnited will credit the interest to your account. You do not have the option to transfer interest to another account. If you want to withdraw the interest or the principal, you will need to wait until your CD reaches maturity.

At the end of your CD term, BankUnited will grant you a seven-day grace period in which you can make any changes, additions or withdrawals from your account. If you don’t make any changes during the grace period, your money (principal and interest) will automatically get reinvested into a new CD. It will have the same term length as your previous CD but the interest rate will depend on the current available rates.

In the case that you really need to remove funds early from your CD, BankUnited may allow you to do so. However, you will have to pay an early withdrawal penalty each time. The penalty is assessed on the amount of principal that you withdraw and varies with the length of your CD term. BankUnited will deduct the penalty from the interest you have earned, and if you haven’t earned enough to cover the penalty, BankUnited will take from your CD principal.

The early withdrawal penalty equals 30 days’ interest for CDs with a term of less than 90 days. Terms between 90 and 365 days have a penalty of 90 days’ interest. Any CD with a term length over 365 days has a penalty of 180 days’ interest.

How Much You Earn With BankUnited CDs Over Time

BankUnited has relatively high interest rates. That means you will earn good interest if you open one of its CDs. Even if you can only afford to contribute the minimum amount to the shortest CD (3 months), you will earn more than $10 of interest.

The highest interest rate comes with the 9 month CD at 2.05% APY. Your earning power is also greater with long CDs because BankUnited compounds interest daily.

Bank Of The West Cd Rates Annuity

How BankUnited’s CD Rates Compare to Other Banks’

If your focus is CD terms of two years or less, you should compare CD rates at other financial institutions and consider an account with an online bank like Ally. Ally has competitive rates for short-term CDs and offers higher rates if you contribute more than $5,000. Because it is an online bank, you won’t be able to speak to a banker in person if you work with Ally. This is a disadvantage for some but the tradeoff is high rates.

Bank Of The West Cd Promotion

If you are mostly looking for a CD with a long-term length, there are a few banks to consider. Capital One is one of the largest banks in the U.S. and has high rates. The 60-month (five-year) offering is strong. There is also no minimum for opening a CD. That makes Capital One a viable option for people of all financial levels.

For those who can afford the $1,000 minimum deposit, a brokered CDs is also be something to consider. A broker, like Edward Jones, will offer some of the highest interest rates on the market. Edward Jones has term lengths ranging from three months to 10 years. That makes it a great option if you’re investing for future goals. Brokered CDs work a bit differently than traditional banks though, so you should make sure to understand how they work before opening any accounts.

Compare BankUnited to Other Competitive Offers

Should You Get a BankUnited CD Account?

A big consideration with BankUnited is that it only has local branches in two states. Most branches are in Florida, and some are in New York.

Bank Of The West Cd Rates Special Promotion

BankUnited does not have many CD options but does have good interest rates. Whether you’re looking for long-term or short-term CDs, you can find higher rates elsewhere. For example, online banks often have higher rates on short CD terms. However, you can feel confident that you’re earning decent interest with BankUnited.

Bank Of The West Cd Rates As Of Today

You should look elsewhere if you want to create a CD ladder. A CD ladder is simply multiple CDs with staggered maturity dates so that they regularly pay interest. BankUnited doesn’t have many term options, which means you can’t create a robust ladder. If that’s your goal, consider other banks. Brokers may be a good choice as they usually have terms ranging from a few months up to 10 years. It’s useful to talk with a financial advisor if you have questions about the best way you can use CDs to save money.