Goldwater Bank CD

Goldwater Bank CD Review

Goldwater Bank CD are offered by Goldwater Bank, a bank founded in 2007 and based in Scottsdale, AZ. Goldwater Bank CD are available in 50 states (and Washington, DC).

Key Takeaways

• Only one CD type available. Goldwater Bank CD only offers traditional CD accounts.
• Higher than average APY. Goldwater Bank CD has an annual percentage yield of up to 0.95%, which is higher than the national average for 3-month CDs.
• High minimum deposit. You must deposit a minimum of $5,000, which is high compared to most CD accounts.
• Wide selection of CD terms. Goldwater Bank 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 Goldwater Bank CD

Goldwater Bank CD FAQ

Are CD from Goldwater Bank federally insured?

Yes, your Goldwater Bank CDs are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). 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 Goldwater Bank 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.

What rates does Goldwater Bank offer on its CDs?

Goldwater Bank CD offers an APY starting at 0.35% and ranging up to 0.95%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

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

Goldwater Bank CD require a minimum deposit of $5,000 to open an account.

What is the grace period for Goldwater Bank CD?

Goldwater Bank CD does not specify what their grace period is. 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 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 Goldwater Bank 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.

Goldwater Bank does not charge an early withdrawal fee.

Goldwater Bank does charge any of the fees we track.