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Quontic CD Rates for 2024

Kailey Hagen
Matt Frankel, CFP®
By: Kailey Hagen and Matt Frankel, CFP®

Our Banking Experts

Ashley Maready
Check IconFact Checked Ashley Maready
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 our experts’ opinions aren’t 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.

Quontic CD rates are among the highest rates available today. If you're comfortable banking online and you want to grow your savings quickly, Quontic CDs are definitely worth considering. Below, we'll take a closer look at how Quontic CD rates stack up to their competition.

Quontic CD rates for 2024

Compare Quontic CD rates

Quontic 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 June 7, 2024
Bank & CD Offer APY Term Min. Deposit Next Steps
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

Overview of Quontic CDs

Before we dive in, here's some basic information about Quontic CDs that you should know.

Minimum Deposit $500
Range of Term Lengths 6 months to 5 years
Compounding Schedule Daily (Credited to account monthly)
Early Withdrawal Penalty 1-2 years' worth of interest
Grace Period 10 days
Data source: Quontic Bank.

Quontic CD pros and cons

Quontic 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.


  • Competitive APYs
  • Reasonable minimum deposit
  • FDIC insured
  • No account fees


  • Fewer terms than some of its competitors
  • Strict penalties for early withdrawals

How much can you earn with a Quontic CD?

The amount you can earn with a Quontic CD depends on the bank's APYs at the time you open it, as well as your initial deposit and the term you select. With that in mind, here's a table illustrating what potential earnings could look like if you deposited $1,000.00 into a Quontic CD.

The numbers in the table below may not be accurate to current APYs and are for example purposes only.

Term APY Earnings
1 Year 4.50% $45.00
2 Years 4.50% $92.03
5 Years 4.30% $234.30
Data source: Author's calculations.

Is a Quontic CD safe?

Yes, Quontic Bank is an FDIC member bank, and therefore money in its accounts is protected against bank failure. FDIC insurance provides protection for as much as $250,000 in deposits per person, per institution.

How to open a Quontic CD

Quontic makes the application process to open a new CD as easy as possible. The process can be completed in about three minutes, according to the bank, and it can be done entirely online. The general steps are:

1. Fill out Quontic's application

This will require some basic information about you, such as name, address, and Social Security number.

2. Decide how you want to fund the account

You can transfer money from an internal or external bank account, and keep in mind that the minimum to open an account is $500.

3. Fund your account

Transfer your funds into your new Quontic CD, and you're all set. You'll start earning interest right away.

Who is a Quontic CD right for?

A Quontic 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. Quontic CDs have relatively strict early withdrawal penalties, so they're best for people who are quite sure they won't need their money for the entire term.

Other Quontic CD accounts

Quontic Bank only offers standard CDs in terms ranging from six months to five years. It doesn't offer additional CD products such as bump-up or step-up CDs.

Bottom line: Quontic CD rates

Quontic CD
  • 6 APY: 5.05%
  • 12 APY: 4.50%
  • 24 APY: 4.50%
  • 36 APY: 4.40%
  • 60 APY: 4.30%
Rates as of June 7, 2024

APY = Annual Percentage Yield

Quontic CD
6 Mo.
1 Yr.
2 Yr.
3 Yr.
5 Yr.

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.


  • Quontic CDs require a minimum deposit of $500 to open. This is a per-account requirement, so if you want to open two Quontic CDs of different maturity terms, you'll need $1,000.

  • There are no ongoing fees associated with a Quontic CD, such as a monthly maintenance fee. However, you will likely have to pay an early withdrawal fee if you take your money out of the account before it reaches maturity.

  • You can close a Quontic CD early, but it can be expensive. Quontic's early withdrawal penalties are especially 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.

Our Banking Experts