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Bask Bank Certificates of Deposit

Certificates of Deposit

No matter what your savings goals are, a Bask Certificate of Deposit (CD) can help you achieve them faster by earning interest on a lump sum deposit that's held for a period of time between 6 months and 24 months.

Choose Your CD Rate

Open a Certificate of Deposit (CD) account today

Select the duration and Annual Percentage Yield (APY)*
that works for you.

Certificate of Deposit (CD) Rates

$1,000 Minimum to Open Account

deposit term interest Rate apy
6 Months



12 Months 5.07% 5.20%
18 Months 4.40% 4.50%
24 Months 4.40% 4.50%

Interest for CDs are calculated and accrued daily based on the daily balance in the account. CDs have fixed terms and rates; penalty may be incurred if funds are withdrawn prior to maturity.

All Annual Percentage Yields (APYs) and Interest Rates shown are offered on accounts accepted by Bask Bank and effective per the dates shown above, unless otherwise noted. APYs represent the yield on a 365-day basis including the effect of compounding and interest reinvestment. APYs on term deposits assumes reinvestment of principal and interest at maturity, fees may reduce earnings on accounts.

Benefits of a Bask CD Account


Terms on a Bask CD Account range from 6 months to 24 months, so how you want to save (and for how long) is entirely up to you.


You can trust that all four of Bask Bank’s CD account offerings are insured up to FDIC limits, which means you’re protected from any losses.


The added advantage of knowing your exact interest earnings can help you plan smarter, which means achieving your goals quicker — so you can dream larger.

How do CDs work?

"CD" stands for "certificate of deposit," a type of high yield savings account that has a fixed interest rate (APY) and a fixed term. A Bask CD Account offers a guaranteed return on your savings in exchange for you choosing Bask Bank to safeguard your funds during a timeframe of your choice.

What is APY?

"APY" stands for "annual percentage yield," a percentage that describes compounding interest gained on money deposited into an account.


Frequently Asked Questions

    What is a Certificate of Deposit (CD)?

    A certificate of deposit (CD) is a bank account that earns a fixed interest rate in exchange for locking in your deposit for a specified term. Bask Bank offers CD terms ranging from 6 months to 24 months.

    How can I open a new CD?

    If you’re new to Bask Bank, visit our Bask Certificates of Deposit Products page and click Choose your CD Rate. Select the CD term that works for you and follow the steps to complete your application. 


    If you already have an account with us, you can open a new CD account by logging in to Online Banking and clicking Discover Products. Once you’ve chosen the desired CD term, click Open CD. Follow the steps to complete your application.

    What do I need to know about funding my new CD?

    You must fund your new CD with a single, lump-sum deposit of at least $1,000 within the first 10 business days after opening the account. If your CD is not funded with at least $1,000 within 10 business days, your account will be closed automatically. Once you make the initial deposit, you will not be able to make any additional deposits until the renewal grace period at completion of the CD term.

    Can I have more than one CD?

    You can have up to five individually owned and five jointly owned CD accounts per CD term length.

    Can I withdraw money from my CD early?

    You may withdraw interest that has been credited to your account during the current term without penalty, but you will be subject to an early withdrawal penalty if any portion of your principal balance is withdrawn.


    • CDs with terms of 6 months up to and including 1 year are subject to a fee of 90 days of simple interest based on the principal amount withdrawn.
    • CDs with terms greater than 12 months are subject to a fee of 180 days of interest based on the principal amount withdrawn.


    If your accrued interest is less than the penalty's total amount, the difference will be deducted from your principal.

    Can I make additional deposits to my CD?

    Funds may only be added to an existing CD account during the renewal grace period following the CD maturity date.   


    Additional CD accounts can be opened at any time. You can have up to five individually owned and five jointly owned CD accounts per CD term length.  

    What happens when my CD matures?

    Thirty (30) days before the end of your CD term, Bask Bank will send you a reminder that your CD is about to reach its maturity date. You'll have a grace period of 10 calendar days after the CD maturity date to add or withdraw funds, move funds into another Bask Bank CD account or adjust your term. 


    If no action is taken, your CD will automatically be renewed for the same term. You'll receive a renewal notice with the new rate after the grace period ends. 


    If you choose to close your CD during the grace period, log in to Online Banking and follow these steps to submit a CD Closure request: 


    On the web: 

    1. From the left navigation screen, select Account Services then CD Closure Form. Continue to 2. below. 


    From the mobile app: 

    1. Tap Menu on the navigation bar, then Account Services and CD Closure Form
    2. From the drop-down menu, choose the CD account you want to close. 
    3. Select your Bask or previously linked external account where you would like your funds transferred. To process a wire transfer, contact Customer Support. 
    4. Select a reason for closure, review and check the box to accept the Closure Terms, then click Submit
    5. You'll get a prompt to receive a one-time code to verify your identity and confirm your request.   


    For ACH transfers originating from Bask Bank to an external account, please allow up to three business days for processing. Transfers between Bask accounts are processed the same day.

    Does the interest rate on my CD change?

    The interest rate and Annual Percentage Yield (APY) are a fixed rate for the term length of the CD.  


    Read more about CD rates in our Account Agreement, Terms & Disclosures.  

    *The annual percentage yield is effective as of . APY is a fixed rate and a $1,000 minimum balance is required. We will pay this rate and APY through your CD maturity date. Fees could reduce the earnings on your account, and an early withdrawal penalty may be imposed for early withdrawal. If your CD is not funded with at least $1,000 within 10 business days after the date the account is opened, it will automatically be closed. Read the full terms here.