Sunrise Banks CD

Sunrise Banks CD Review

Sunrise Banks CD are offered by Sunrise Banks, a bank founded in 1962 and based in Saint Paul, MN. Sunrise Banks CD are available in 1 state across the USA.

Key Takeaways

• Only one CD type available. Sunrise Banks CD only offers traditional CD accounts.
• Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 1.26%, which is much higher than the national average for a CD account.
• $500 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
• Limited selection of CD terms. Sunrise Banks CD only offers one CD term. This limits your options when trying to set up a CD ladder.

Pros & Cons of Sunrise Banks CD

Sunrise Banks CD FAQ

Are CD from Sunrise Banks federally insured?

Yes, your Sunrise Banks 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 Sunrise Banks 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 Sunrise Banks offer on its CDs?

The CD rates for this account have an APY of1.26% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1% APY.

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

Sunrise Banks CD require a minimum deposit of $500 to open an account.

What is the grace period for Sunrise Banks CD?

Sunrise Banks 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 Sunrise Banks 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.

Sunrise Banks does not charge an early withdrawal fee.

Sunrise Banks does charge any of the fees we track.