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Last Updated: 04/18/2025

Nelnet Bank Business CD Account

in CD Accounts from Nelnet Bank

Last Updated: 04/18/2025

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Highlights

APY (Annual Percentage Yield)

3.25% - 3.72%(Verified 09/20/2024)

Minimum Opening Deposit

Starting at $25,000

Certificate Term

  • 12 months
  • 18 months
  • 2 years
  • 3 years
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Nelnet Bank Business CD Account Review

Nelnet Bank Business CD Account are offered by Nelnet Bank, a bank founded in 2020 and based in Draper, UT. nelnet bank cd are available in 50 states, 5 US territories, and Washington, DC.

Key Takeaways

  • Only one CD type available. nelnet bank cd only offers traditional CD accounts.
  • Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 3.72%, which is much higher than the national average for a CD account.
  • High minimum deposit. You must deposit a minimum of $25,000, which is high compared to most CD accounts.
  • Wide selection of CD terms. nelnet 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 Nelnet Bank Business CD Account

Nelnet Bank Business CD Account FAQ

Are CD from Nelnet Bank federally insured?

No, your Nelnet Bank CD accounts are not insured by a federal insurance agency. This means that if Nelnet Bank were to fall into financial difficulties, your deposits are not covered by a government-backed insurance fund like the FDIC or NCUSIF.

What types of CDs does Nelnet Bank offer?

nelnet bank cd provides the following types of CDs.
  • 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 Nelnet Bank offer on its CDs?

nelnet bank cd offers an APY starting at 3.25% and ranging up to 3.72%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding. This is higher than the typical interest rate for online-only checking accounts, which is around 1% APY.

What terms does nelnet bank cd offer?

Nelnet Bank offers CD terms of the following lengths:

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

nelnet bank cd require a minimum deposit of $25,000 to open an account.

What is the grace period for nelnet bank cd?

nelnet 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 Nelnet 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.
Nelnet Bank charges an early withdrawal fee.
Nelnet Bank does charge any of the fees we track.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Headquarters

13907 Minuteman Dr
Draper, UT 84020
(800) 446-4190
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Email Support

Hours of Operation

Sunday

Closed

Monday

7:00AM - 6:00PM

Tuesday

7:00AM - 6:00PM

Wednesday

7:00AM - 6:00PM

Thursday

7:00AM - 6:00PM

Friday

7:00AM - 6:00PM

Saturday

Closed

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