BBVA CD

BBVA CD Review

BBVA CD are offered by BBVA savings accounts, a bank founded in 1964 and based in Birmingham, AL. BBVA Compass CD are available in 50 states (and Washington, DC).

Key Takeaways

• Small selection of CD account types. BBVA Compass CD only offers IRA and traditional CDs.
• Low APY. The maximum annual percentage yield for this account is only 0.05%.
• $500 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
• Wide selection of CD terms. BBVA Compass CD allows you to create a CD ladder by spreading your cash across certificates with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.

Pros & Cons of BBVA CD

BBVA CD FAQ

Are CD from BBVA savings accounts federally insured?

Yes, your BBVA CDs are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #19048). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What types of CDs does BBVA offer?

• Traditional CDs. These CDs pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the CDs for another term.
• IRA CDs. An IRA CD is a type of IRA that consists entirely of CDs. In general, you can invest in CDs in any IRA, but BBVA Compass CD offers a CD that is specifically for retirement.

What rates does BBVA offer on its CDs?

The CD rates for this account have an APY of0.05% (APY stands for annual percentage yield, rates may change).

What is the minimum deposit to open a CD account with BBVA?

BBVA Compass CD require a minimum deposit of $500 to open an account.

What is the grace period for BBVA Compass CD?

There is a 10-day grace period for BBVA Compass CD. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the 10-day grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does BBVA charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the term ends.

BBVA does not charge an early withdrawal fee.