Quontic Bank offers a 12-month certificate of deposit (CD) with a 4.50% annual percentage yield (APY). The minimum deposit is $500, and interest is compounded daily and credited monthly. Quontic CDs are FDIC insured and don't have fees.
In a world where your hard-earned savings often lie dormant, imagine unlocking their potential with a choice as simple as selecting the right 12-month CD. You might wonder, amidst fluctuating markets and endless financial options, how to safeguard and grow your funds effectively.
This article dives into the realm of 12-month CDs, a haven for those seeking stability without compromising on growth. We'll guide you through the top options available, ensuring your financial decisions are not just safe, but also smart.
Whether you're a seasoned investor or taking your first steps in personal finance, understanding these options addresses a crucial concern: maximizing returns without risking your peace of mind. Stay tuned as we unveil the keys to turning this dream into your financial reality.
Best 12-Month CD Rates (Highest APY to Lowest)
Quontic 12-Month CD Details
Rate: 4.50% APY — best overall and highest APY currently
Quontic Bank, an online-only bank, offers different kinds of bank accounts, like checking and savings accounts, mortgage products and some of the best CD rates in the country.
If you're interested in saving money, Quontic has a Certificate of Deposit (CD) where you can earn up to 4.50% interest per year. To start, you need at least $500. Just remember, if you take out your money before the CD's term is up, there's a penalty fee. It's also really quick to open an account; it can take less than three minutes.
The CD accounts at Quontic are not only known for their good interest rates, but they are also safe because they are FDIC-insured. This means your money is protected. Quontic believes that while their rates will attract customers, the quality of their service will make them stay.
See Quontic Bank's Secure Site for more details.
Quontic Bank offers a 12-month certificate of deposit (CD) with a 4.50% annual percentage yield (APY). The minimum deposit is $500, and interest is compounded daily and credited monthly. Quontic CDs are FDIC insured and don't have fees.
Ally Bank 12-Month CD Details
Rate: 4.40% APY
With a 4.40% APY interest rate for a 12-month CD and no minimum deposit, it’s not hard to see why Ally Bank made our list.
This bank is online-only but serves over 8.5 million customers. Ally Bank compounds your interest daily, and there’s a bonus APY if you renew your CD once the term is up.
There’s no minimum deposit required to open your account, and you’ll always get the best rate we offer for your CD term with the Ally Ten Day Best Rate Guarantee. Your money grows with interest compounded daily.
Quontic Bank offers a 12-month certificate of deposit (CD) with a 4.50% annual percentage yield (APY). The minimum deposit is $500, and interest is compounded daily and credited monthly. Quontic CDs are FDIC insured and don't have fees.
Capital One 12-Month CD Details
Rate: 4.50% APY
You can earn up to 4.50% APY with no minimum deposit with Capital One. High-interest rates continue with current Capital One promotions. This bank has been public since 1994 and offers 4.50% APY on its 12-month CD.
There are no partial withdrawals. If you do pull your funds out early, you’ll pay a penalty of at least three months’ worth of dividends if your term is shorter than a year. This doubles to six months if your terms are longer.
Quontic Bank offers a 12-month certificate of deposit (CD) with a 4.50% annual percentage yield (APY). The minimum deposit is $500, and interest is compounded daily and credited monthly. Quontic CDs are FDIC insured and don't have fees.
Discover 12-Month CD Details
Rate: 4.10% APY
To access the 4.10% APY rate from Discover, you’ll need to fund your new 12-month CD with at least $2,500 to start.
Discover also offers some of the best CD rates starting at three months and extending to 10 years, but there’s no real advantage to going with 10 years over 5 years.
With no fees and the ability to set up a CD ladder, Discover offers comparable rates to other banks and credit unions on our list.
Quontic Bank offers a 12-month certificate of deposit (CD) with a 4.50% annual percentage yield (APY). The minimum deposit is $500, and interest is compounded daily and credited monthly. Quontic CDs are FDIC insured and don't have fees.
American Express National Bank 12-Month CD Details
Rate: 4.00% APY
American Express National Bank is beloved by many, especially since they’ve been operating since 1950.
American Express National Bank offers a 12-month certificate of deposit (CD) with an annual percentage yield (APY) of 4.00% and a $0 minimum deposit.
The rates will depend on which terms you choose but range from six months to five years. Interest is paid out each month but compounded daily, making a CD from AmEx National Bank a smart long-term investment strategy investment.
Quontic Bank offers a 12-month certificate of deposit (CD) with a 4.50% annual percentage yield (APY). The minimum deposit is $500, and interest is compounded daily and credited monthly. Quontic CDs are FDIC insured and don't have fees.
Final Words
In conclusion, certificates of deposit (CDs) are a popular savings option for those seeking stability and predictability.
The 12-month CD offered by Quontic is the best CD rates on the market, offering rates of up to 4.50% APY currently.
We can confidently recommend the Quontic 12-Month CD as our top pick — but it's important to be aware of the potential downsides, particularly the strict early withdrawal penalty and limited access to funds.
Consider your own financial needs, and if you will need this money within 12 months or if it can be safely locked away.
Quontic Bank offers a 12-month certificate of deposit (CD) with a 4.50% annual percentage yield (APY). The minimum deposit is $500, and interest is compounded daily and credited monthly. Quontic CDs are FDIC insured and don't have fees.
