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
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
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.
Yes. Bask CD accounts are limited to five CD accounts per product type, per owner.
You’ll have the assurance of a guaranteed rate for the term and amount on deposit. Therefore you can expect no changes to take place to your CD made during its term.
Yes, but you will be subject to an early withdrawal penalty. The penalty is applied to the amount of CD principal withdrawn. You may, however, withdraw interest that has been credited to your account during the current term without penalty:
- Terms of 12 months or less = 90 days of simple interest at the current rate
- Terms of more than 12 months but less than 48 months = 180 days of simple interest at the current rate.
After you initially fund your CD, you can only make deposits during the 10-day grace period after the CD matures.
30 days prior to your CD maturity date, we’ll send you a maturity notice. At this time, you may decide to move funds into another Bask CD or withdraw your funds. After your CD maturity date, you’ll be given a 10-day grace period, during which you can take action to add or withdraw funds, or simply adjust your term. If you take no action during this time, your CD is renewed automatically and you’ll receive a renewal letter.
No. The interest rate of your CD is based on your CD term and is locked once we receive and process your deposit.
New Customers: Open a new account by visiting baskbank.com and select Open An Account from our homepage. Choose your desired CD option and follow the prompts for our account opening process.
Existing Customers: To add a CD to your Bask Bank account, locate Discover Products from the left navigation panel on your online banking profile, and select your desired CD option. Click Open CD under your CD selection and follow prompts to complete your application.
We’ll reach out with your renewal confirmation letter after the end of your grace period for your CD.
Statements become available monthly.
Yes, Bask Bank is a member of the FDIC, so your deposit accounts with us are insured up to $250,000 per ownership category.