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APY = Annual Percentage Yield.
Western Alliance Bank CD rates from the Raisin platform are some of the best that we've found. Western Alliance Bank CDs combine market-beating rates with $1 minimums, ideal for a wide range of investors opening short-term CDs. Read on for our review of Western Alliance Bank CDs to see if they might be a good fit for you.
Western Alliance Bank CD rates for 2025
Rates as of June 16, 2025
APY = Annual Percentage Yield
Western Alliance Bank CD
Bottom Line
Western Alliance Bank offers some of the highest APYs we've seen across short-term CDs through the Raisin platform. Its CDs have low $1 minimums, and relatively low withdrawal penalties without any additional fees. But you will need to look elsewhere for terms longer than one year.
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.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
3.60%
Rate info
3.60% annual percentage yield as of June 25, 2025. Terms apply.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
up to 3.80%
Rate info
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
3.90%
Rate info
Balances less than $250,000 earn 3.90%, and balances greater than $250,000 earn 4.10%.
Western Alliance Bank CDs from Raisin have some of the most competitive APYs of any bank on our radar. However, with certificate of deposit (or CD) rates changing frequently, it's always a smart idea to shop around for the best rate when you're ready to open an account.
Western Alliance Bank CD rates are some of the highest we've come across. They combine high rates with short terms and low minimums.
Minimum Deposit
$1
Range of Term Lengths
3 months to 1 year
Compounding Schedule
Daily
Early Withdrawal Penalty
90 days of interest at the CD's interest rate
Grace Period
7 days
Data source: Raisin.
Western Alliance Bank CD pros and cons
Opening a CD account with Western Alliance Bank through the Raisin platform has pros and cons. On one hand, rates are excellent and you can invest as little as $1. On the other hand, you can't open an account with a term longer than one year, and you only get your earnings once your CD term expires.
Pros
High APYs
FDIC insured
$1 minimum deposit
Cons
Limited withdrawal options
Early withdrawal penalties
Few terms available online
How much can you earn with a Western Alliance Bank CD?
Rates change frequently, but you can lock in high rates by opening a CD account with Western Alliance Bank through Raisin. Here's a table illustrating what potential earnings could look like if you deposited $1,000 into a Western Alliance Bank CD.
The numbers in the table below may not be accurate to current APYs and are for example purposes only.
Term
APY
Earnings
3 months
5.21%
$13.08
5 months
5.16%
$21.69
6 months
5.13%
$25.93
9 months
5.10%
$38.91
1 year
5.05%
$51.79
Data source: Author's calculations.
Is a Western Alliance Bank CD safe?
Western Alliance Bank CDs from Raisin are FDIC insured up to $250,000 per depositor. That's about as safe as things get in the financial industry.
How to open a Western Alliance Bank CD
Opening a Western Alliance Bank CD is simple. Here's how.
1. Navigate to Western Alliance Bank CDs on the Raisin website
The first step is to begin the sign-up process online by opening an individual account. Even if you want to open a joint account, Raisin requires that you open an individual account first.
2. Select from a list of CD terms and rates
Raisin lists CD terms in order of duration (shortest to longest), along with their current rate of return.
3. Register your Raisin account
You'll need to provide your personal information, including your name, address, and Social Security number.
4. Accept the terms and conditions
You will need to accept both Raisin's and Western Alliance Bank's terms and conditions.
5. Link your bank account
This will most likely be your checking account. You can select from a list of banks and enter your login information, or you can manually provide your bank account and routing numbers.
5. Fund your CD account
You will need to fund your Western Alliance Bank CD with at least $1.
Who is a Western Alliance Bank CD right for?
A Western Alliance Bank CD is right for investors who want high rates for short-term CDs. Short-term CDs are great because they're low-commitment -- for even more flexibility, you can open more than one with varying terms, a strategy known as CD laddering. These CDs are also perfect for low-budget investors.
Other Western Alliance Bank CD accounts
Western Alliance Bank also offers the following CD accounts:
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.
$1 is the minimum deposit for a Western Alliance Bank CD through the Raisin platform.
There are no account opening fees. You pay an early withdrawal fee if you withdraw money from your account after the seven-day grace period and before the CD term expires.
You're allowed to close a Western Alliance Bank CD early. If you close the account after the seven-day grace period, you must pay an early withdrawal fee equal to 90 days' simple interest.
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APYs are subject to change at any time without notice.
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