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Bask Bank CD Rates for 2024

Review Updated
David Chang, ChFC®, CLU®
Author: David Chang, ChFC®, CLU®
David Chang, ChFC®, CLU®
David Chang, ChFC®, CLU®
Writer, Consultant

David S. Chang, ChFC®, CLU® is an award-winning entrepreneur, keynote speaker, author, and consultant. He has over two decades of experience in the wealth management space and has been featured in dozens of news, radio, and podcast programs nationwide. He currently works as Head of IoT for the West Region of a Fortune 200 company. He is a graduate of the United States Military Academy at West Point and currently a Lieutenant Colonel in the California Army National Guard. He is an East-West Graduate Degree Fellow and has an MBA from the UCLA Anderson School of Management.

See Full Bio

Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

Bask Bank offers some of the highest interest rates on the market. Bask Bank offers CD terms ranging from 3 to 24 months, making it a great option for short and mid-term investments. Bask Bank has a minimum deposit requirement and doesn't offer CD terms longer than 24 months, so it may not be right for everyone.

Read this review to learn more about Bask Bank CD rates, how they compare to the competition, and who should get a Bask Bank CD.

Bask Bank CD rates for 2024

Rates as of Dec. 18, 2024

APY = Annual Percentage Yield

Offer image for Bask Bank CD
Bask Bank CD
Bottom Line

You get a few straightforward CD terms to choose from (from three months to two years), and a competitive APY from Bask Bank. But you will need to pony up $1,000 to open one of these CDs.

MINIMUM DEPOSIT $1,000
3 Mo. APY 6 Mo. APY 9 Mo. APY 1 Yr. APY 1.5 Yr. APY 2 Yr. APY
4.65% 4.45% 4.30% 4.25% 3.90% 3.75%

Is a high-yield savings account a better option for you?

A high-interest savings account offers rates competitive with the best CDs accounts, but without having to lock your money away for months or even years at a time. Here are some top-rated high-yield savings account options from our experts.

Account APY Promotion Next Steps
3.80%
Rate info Circle with letter I in it. 3.80% annual percentage yield as of December 27, 2024. Terms apply.
Min. to earn: $0
N/A
Open Account for American Express® High Yield Savings

On American Express's Secure Website.

up to 4.00%²
Rate info Circle with letter I in it. You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
3.80%
Rate info Circle with letter I in it. See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
N/A

Compare Bask Bank CD rates

Bask Bank has some of the best 3-month to 24-month CDs rates available on the market, especially for its 6-month CDs. Take a look at how some of the competition stacks up.

Rates as of Dec. 18, 2024
Bank & CD Offer APY Term Min. Deposit Next Steps
APY: 4.00% Term: 1 Year Min. Deposit:  $0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

Member FDIC.
APY: 4.25% Term: 10 Months Min. Deposit:  $2,500
Open Account for

On Secure Website.

Member FDIC.
APY: 4.25% Term: 6 Months Min. Deposit:  $500
Open Account for

On Secure Website.

Bask Bank CD review

Bask Bank offers six CD options: 3 months, 6 months, 9 months, 12 months, 18 months, and 24 months.

Pros

  • High interest rates
  • Six CD options from 3 months to 24 months
  • No fees

Cons

  • $1,000 minimum to open account
  • Longest term CD is 24 months
  • Early withdrawal penalty is high

Bask CD rates are extremely competitive and some of the highest in the market. There are also no fees. However, penalties for early withdrawals are high and Bask Bank doesn't offer CD terms longer than 24 months.

The early withdrawal penalty for 6-month and 12-month CDs is three months of interest and the penalty for CDs with longer terms is six months of interest. If the penalty is higher than the accrued interest, the difference will be taken from your principal.

Bask Bank also requires an initial deposit of $1,000. This must be received within 10 business days, or the account will be closed. Once you make the initial deposit, you will not be able to make any additional deposits until the renewal grace period at the end of the CD term.

After your CD matures, you will have a 10-day grace period. You can choose to withdraw your funds, add funds, move to another Bask Bank CD, or adjust the term length. If you do nothing, your CD is renewed automatically and you'll receive a renewal letter after the end of the grace period.

Who is a Bask Bank CD right for?

Bask Bank CDs are right for those who want to earn a high interest rate, are comfortable with online banking, and are able to meet the $1,000 minimum requirement.

Bottom line: Bask Bank CD rates

Bask Bank CD
  • 3 APY: 4.65%
  • 6 APY: 4.45%
  • 9 APY: 4.30%
  • 12 APY: 4.25%
  • 18 APY: 3.90%
  • 24 APY: 3.75%
Show All Rates [+] Hide All Rates [-]
Rates as of Dec. 18, 2024

APY = Annual Percentage Yield

Term
Bask Bank CD
3 Mo.
6 Mo.
9 Mo.
1 Yr.
1.5 Yr.
2 Yr.
4.65%
4.45%
4.30%
4.25%
3.90%
3.75%

Keep reading about Bask Bank:

Our CDs methodology

At Motley Fool Money, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.

Learn more about how Motley Fool Money rates bank accounts.

FAQs

  • If you're looking for a high interest rate CD with a term of 24 months or less, Bask Bank might be a fit for you.

  • Bask Bank CDs offer some of the highest CD rates in the market. CDs are a safe way to grow your money if you don't need it for day-to-day expenses.