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Bread Savings CD Rates for 2024

Review Updated
Steven Porrello
Author: Steven Porrello
Steven Porrello
Steven Porrello
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Steven is a personal finance writer covering topics from mortgages to credit cards to market news. He has written for The Motley Fool Canada, Ramsey Solutions, Nerdwallet, Clever Real Estate, and other major outlets. Steven launched his writing career at the age of four with his first book, "Revenge of the Bad Guys." He currently lives in Portland, Oregon.

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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.

Bread Savings CD rates will make you look twice, wipe your eyes, then look a third time in disbelief. This mobile bank offers some of the highest interest rates on CDs we've seen.

The minimum deposit is fairly high ($1,500), but if you're okay locking a grand and a half up you could snag an excellent CD rate.

Bread Savings CD rates for 2024

Rates as of Dec. 18, 2024

APY = Annual Percentage Yield

Offer image for Bread Savings CD
Bread Savings CD
Bottom Line

Bread Savings CDs are available in many of the most popular terms, making this a flexible high-yield CD account to consider for various financial goals. There's also no monthly maintenance fee. But the $1,500 minimum deposit for Bread Savings CDs is a little steeper than some of its competitors require.

MINIMUM DEPOSIT $1,500
3 Mo. APY 6 Mo. APY 9 Mo. APY 1 Yr. APY 1.5 Yr. APY 2 Yr. APY 3 Yr. APY 4 Yr. APY 5 Yr. APY
3.80% 4.75% 3.80% 4.30% 3.80% 3.85% 3.50% 3.50% 3.50%

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 Bread Savings CD rates

Bread Savings CD rates are higher than the national average and can compete with bigger, more well-known financial institutions. Here's how Bread Savings CDs stack up against its competitors.

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.

Overview of Bread Savings CDs

Bread Savings CD offers a big punch for a reasonable minimum deposit. The APYs are extremely competitive, the term lengths are decently varied, and the $0 monthly fees are icing on the cake.

That said, if you want a term shorter than 12 months, or you can't lock up $1,500, you'll have to consider a different bank.

Minimum Deposit $1,500
Range of Term Lengths 1 to 5 years
Compounding Schedule Daily
Early Withdrawal Penalty 180 days of simple interest (1 years - 3 years CD), 365 days of simple interest (4 years or longer)
Grace Period 10 days

Bread Savings CD pros and cons

To help you make the best decision, here are some pros and cons to consider.

Pros:

  • Competitive CD rates for shorter terms
  • No monthly fees
  • FDIC insured

Cons:

  • Minimum deposit of $1,500
  • No CD term shorter than 12 months
  • $15 bank check fee for withdrawals is higher than others

How to open a Bread Savings CD

Applying for a Bread Savings CD only takes a few minutes.

1. Visit the Bread Savings website

Go to the Bread Savings website and navigate to the Certificates of Deposit (CD) section.

2. Select a CD term

Review the available CD terms and interest rates, and choose the one that best fits your savings goals.

3. Create an account or log In

If you're a new customer, create a Bread Savings account. If you're an existing customer, log in to your account.

4. Provide personal information

Enter required personal details, including your:

  • Name
  • Address
  • Social Security number
  • Contact information

5. Submit your application

Submit the application and choose your funding method, such as a transfer from an existing bank account.

Once your application is approved, you will receive a confirmation email. Your CD account will be set up, and the funds will be transferred.

Who is a Bread Savings CD right for?

A Bread Savings CD is perfect for savers who have at least $1,500 and want a CD with a term that's greater than 12 months. It's also an excellent choice if you prefer online and mobile banking over brick-and-mortar banks.

Bottom line: Bread Savings CD rates

Bread Savings CD
  • 3 APY: 3.80%
  • 6 APY: 4.75%
  • 9 APY: 3.80%
  • 12 APY: 4.30%
  • 18 APY: 3.80%
  • 24 APY: 3.85%
  • 36 APY: 3.50%
  • 48 APY: 3.50%
  • 60 APY: 3.50%
Show All Rates [+] Hide All Rates [-]
Rates as of Dec. 18, 2024

APY = Annual Percentage Yield

Term
Bread Savings CD
3 Mo.
6 Mo.
9 Mo.
1 Yr.
1.5 Yr.
2 Yr.
3 Yr.
4 Yr.
5 Yr.
3.80%
4.75%
3.80%
4.30%
3.80%
3.85%
3.50%
3.50%
3.50%

Read more about Bread Financial

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

  • You should get a Bread Savings CD if you want a high CD rate with no monthly maintenance fees. If you have substantial savings, you could even build a powerful CD ladder with different Bread Savings CDs.

  • A Bread Savings CD is worth it if you have $1,500 to lock up for one to five years and want to earn more interest than the CD national average.