Updated
Fact Checked
Ashley Maready
Quontic Bank CD rates are among the highest rates available today. If you're comfortable banking online and you want to grow your savings quickly, Quontic Bank CDs are definitely worth considering. Below, we'll take a closer look at how Quontic Bank CD rates stack up to their competition.
Quontic Bank CD Rates for 2024
Rates as of April 25, 2024
APY = Annual Percentage Yield
Quontic CDs
Bottom Line
Quontic Bank offers CDs with terms ranging from six months to five years. It offers most of the terms one would expect, though it is missing a four-year CD, so it may not be ideal for those hoping to build a CD ladder. Its rates are competitive, especially on its longer term CDs, and its minimum deposit is more affordable than what you see with some other top banks.
MINIMUM DEPOSIT $500
| 6 Mo. APY | 1 Yr. APY | 2 Yr. APY | 3 Yr. APY | 5 Yr. APY |
|---|---|---|---|---|
| 5.05% | 4.50% | 4.50% | 4.40% | 4.30% |
Compare Quontic Bank CD rates
Quontic Bank CD rates are considerably higher than most of its competitors. Here's how they compare to some of our other top CD providers.
Rates as of April 25, 2024
| Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
|---|---|---|---|---|
Member FDIC.
| APY: 5.10% | Term: 10 Months | Min. Deposit: $0 | |
Member FDIC.
| APY: 4.70% | Term: 1 Year | Min. Deposit: $2,500 | |
| APY: 5.05% | Term: 1 Year | Min. Deposit: $1 | |
|
| APY: 5.15% | Term: 9 Months | Min. Deposit: $1 | |
Member FDIC.
| APY: 4.75% | Term: 1 Year | Min. Deposit: $500 |
Details of Quontic Bank CDs
Quontic Bank's CD rates are some of the best around. Here's what you need to know to decide if they're the right choice for you.
Quontic Bank CD Pros and Cons
PROS
- Competitive APYs
- Reasonable minimum deposit
- FDIC insured
- No account fees
CONS
- Fewer terms than some of its competitors
- Strict penalties for early withdrawals
Quontic Bank CD Review
You'll be hard pressed to find another bank that can match Quontic Bank's high CD rates. Quontic is an FDIC-insured financial institution that operates exclusively as an online bank, so it can offer better rates than its branch-based banking counterparts.
This makes it a great choice for those who are looking to grow their savings more quickly without risking it in the stock market. The $500 minimum deposit requirement also means its CDs are more accessible than some of its competitors' CDs. However, Quontic Bank has fewer CD terms than many of its competitors, so it's not ideal for people who want to establish a CD ladder.
Quontic CDs automatically renew upon maturity. You'll have a 10-day grace period during which you can withdraw some or all of your money, close your CD and open one with a different term length, or make other changes. But it's important to point out that unless you act, the CD will renew automatically for another term of the same length.
Also, while most CDs have a penalty for early withdrawals (usually forfeiting a few months' worth of interest), Quontic's early withdrawal penalties are rather harsh. CDs with terms of 12 months or less forfeit all of the interest for the entire term, even if it results in an overall reduction of your principal balance. For CDs from 12-24 months, the penalty is one year of interest, and for CDs of 24 months or more, the early withdrawal penalty is two years' interest. Because of this, before you open a Quontic CD, you need to be reasonably sure you can leave the money alone for the entire term.
Who is a Quontic Bank CD right for?
A Quontic Bank CD is a good fit for those who have at least $500, are comfortable managing their money entirely online, and want to earn a high APY on their savings. It does have relatively strict early withdrawal penalties, so it's best for people who are quite sure they won't need their money for the entire term.
Bottom line: Quontic Bank CD rates
Quontic CDs
- 6 APY: 5.05%
- 12 APY: 4.50%
- 24 APY: 4.50%
- 36 APY: 4.40%
- 60 APY: 4.30%
Rates as of April 25, 2024
APY = Annual Percentage Yield
Term
Quontic CDs
6 Mo.
1 Yr.
2 Yr.
3 Yr.
5 Yr.
5.05%
4.50%
4.50%
4.40%
4.30%
Keep reading about Quontic
- Quontic Bank Review
- Quontic High-Yield Savings Review
- Quontic Cash Rewards Checking Review
- Quontic Money Market Review
- Quontic High Interest Checking Account Review
Our CDs methodology
At The Motley Fool Ascent, 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 The Motley Fool Ascent rates bank accounts.
FAQs
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A Quontic Bank CD can help you grow your savings more quickly than you could with a regular savings account. As long as you leave your money alone until the CD matures, there's no risk of loss, as Quontic CDs are FDIC insured to a maximum of $250,000 per depositor.
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A Quontic Bank CD could be worth it for you if you have money you don't plan to spend in the next few years and you want a safe way to earn a high APY on those funds.
Our Banking Experts
Kailey Hagen has been writing about small businesses and finance for almost 10 years, with her work appearing on USA Today, CNN Money, Fox Business, and MSN Money. She specializes in personal and business bank accounts and software for small to medium-size businesses. She lives on what's almost a farm in northern Wisconsin with her husband and three dogs.
Matt is a Certified Financial Planner™ and investment advisor based in Columbia, South Carolina. He writes personal finance and investment advice for The Ascent and its parent company The Motley Fool, with more than 4,500 published articles and a 2017 SABEW Best in Business award. Matt writes a weekly investment column ("Ask a Fool") that is syndicated in USA Today, and his work has been regularly featured on CNBC, Fox Business, MSN Money, and many other major outlets. He’s a graduate of the University of South Carolina and Nova Southeastern University, and holds a graduate certificate in financial planning from Florida State University.
Fact Checked
Ashley Maready
Ashley Maready is a former history museum professional who made the leap to digital content writing and editing in 2021. She has a BA in History and Philosophy from Hood College and an MA in Applied History from Shippensburg University. Ashley loves creating content for the public and learning new things so she can teach others, whether it's information about salt mining, canal mules, or personal finance.
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