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Freedom Bank CD Rates for 2025

Review Updated
Steven Porrello
Steven Porrello
| 1 other [ + ]
Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
Nathan Alderman
Fact checker

Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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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. APY = Annual Percentage Yield.

Through its partnership with the financial platform Raisin, Freedom Bank is offering competitive CD rates for high-yield and no-penalty CDs. In fact, its entire suite of CDs are yielding above 5%. If that has you intrigued, keep reading to find out what these CDs entail and if they're right for your savings.

Freedom Bank CDs from Raisin rates

Freedom Bank High-Yield CDs from Raisin

Rates as of April 22, 2025

APY = Annual Percentage Yield

Offer image for Freedom Bank High-Yield CDs from Raisin
Freedom Bank High-Yield CDs from Raisin
Bottom Line

Freedom Bank (New Jersey) is an FDIC-insured community-based bank with $700 million in assets. And with the CDs that it offers via Raisin, savers can access some of the highest CD rates that we've found.

MINIMUM DEPOSIT $1
Read Review
1 Mo. APY 3 Mo. APY 6 Mo. APY 9 Mo. APY 1 Yr. APY
4.19% 4.30% 4.30% 4.00% 4.25%

Freedom Bank No Penalty CDs from Raisin

Rates as of April 22, 2025

APY = Annual Percentage Yield

Offer image for Freedom Bank No Penalty CDs from Raisin
Freedom Bank No Penalty CDs from Raisin
Bottom Line

Freedom Bank (New Jersey) is an FDIC-insured community-based bank with $700 million in assets. And with the no-penalty CDs that it offers via Raisin, savers can access their funds without worrying about withdrawal penalties.

MINIMUM DEPOSIT $1
Read Review
9 Mo. APY 1 Yr. APY
3.65% 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
up to 3.80%
Rate info Circle with letter I in it. 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.
Min. to earn: $0
New customers can earn up to a $300 bonus with qualifying direct deposits!
3.60%
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 April 8, 2025. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
N/A
4.00%
Rate info Circle with letter I in it. Balances less than $250,000 earn 4.00%, and balances greater than $250,000 earn 4.20%.
Min. to earn: $0
N/A
Open Account for Barclays Tiered Savings

On Barclays' Secure Website.

Disclaimers


Compare Freedom Bank CD rates

Freedom Bank CD rates through Raisin are competitive but not always the highest for certain terms. Nevertheless, they're still several times higher than the national average. For comparison, here's how they stack up against top-paying CD providers.

Rates as of April 22, 2025
Bank & CD Offer APY Term Min. Deposit Next Steps
LendingClub CD
Member FDIC.
Open Account for

On LendingClub's Secure Website.

APY:
4.10%
Term:
14 Months
Min. Deposit:
$500
Open Account for

On LendingClub's Secure Website.

Discover® Bank CD
Member FDIC.
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

APY:
4.00%
Term:
1 Year
Min. Deposit:
$0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

Western Alliance Bank CD
Open Account for

On Raisin's Secure Website.

APY:
4.00%
Term:
6 Months
Min. Deposit:
$1
Open Account for

On Raisin's Secure Website.

Freedom Bank CD review

To be clear, this is a review for Freedom Bank CDs offered through the Raisin platform, not for those offered directly through Freedom Bank itself. If you get a CD through Freedom Bank directly, you'll likely get a lower APY than those offered through the Raisin platform. With that in mind, let's look at two CD products that Freedom Bank and Raisin have cooked up for you.

High-Yield CDs

Pros

  • High APY
  • Low minimum deposit
  • FDIC insurance

Cons

  • Severe early withdrawal penalty

Freedom Bank offers four terms through Raisin, ranging from one to nine months. Each CD term requires a low minimum deposit of $1 and can be funded with an electronic transfer from an external account.

Though all of its CDs are yielding above 5%, they're not all the best rate for that specific CD term. For example, at the time of writing this, Ponce Bank has a 9-month CD (also through Raisin) that's yielding 3.00%, while Freedom's 9-month CD is at 4.00%. On the other hand, Freedom has a lucrative deal on a 1-month CD, boasting one of the highest APYs for that rare term.

One potential drawback with these CDs is the early withdrawal penalties. For example, the 1-month CD has an early withdrawal penalty of 30 days simple interest. Yes, that means, if you break this CD contract before its maturity, it will cost you money off your principal. Be sure you understand the terms in your contract and know what it will cost to withdraw early.

No Penalty CDs

Pros

  • High yield
  • No penalty for early withdrawals

Cons

  • No-penalty kicks in after 30 days

The partnership between Freedom Bank and Raisin has produced two of the highest yielding no-penalty CDs that we've found.

These CDs will let you access money penalty-free after 30 days. While that means you still have to wait 30 days before you can waive the penalty, it also means you don't have to wait nine to 12 months. That's a great value, especially when the APY is yielding several times higher than the national average.

Keep reading about Freedom Bank

Our CDs methodology

At Motley Fool Money, certificates of deposit (CDs) are rated 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 the highest-paying CDs, Freedom Bank CDs from Raisin should be on your radar. It's still important to compare them with other CD providers, especially those who have partnered with Raisin, as Freedom Bank may not have the highest APY for the specific term you're looking for.

  • Raisin is a marketplace for finding today's top-paying bank accounts. When you open a CD through Raisin, you'll transfer money from an external account, like a checking account, to your CD provider. Raisin partners with several banks, like Freedom, to help people find higher APYs for their money.

  • Yes, it is. Whether you open this account through Raisin, or you choose to open a CD directly with Freedom Bank, your deposit is FDIC insured up to $250,000.