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  VirtualBank eCD

VirtualBank eCD

in CD Accounts from Virtual Bank · fdic

Unaffiliated

VirtualBank eCD

Unaffiliated

in CD Accounts from Virtual Bank · Member FDIC

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Highlights
Minimum Opening Deposit Starting at $10,000
Certificate Term
  • 1 month
  • 3 months
  • 6 months
  • 9 months
  • 12 months
  • 18 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years
APY (Annual Percentage Yield) 0.10% - 0.60%

VirtualBank eCD Review

VirtualBank eCD is offered by Virtual Bank, a bank founded in 2009 and based in Trenton, NJ. VirtualBank eCD is available in 50 states (and Washington, DC).

Key Takeaways
  • Only one CD account type available. VirtualBank CD only offers traditional CD accounts.
  • Very high APY. This account offers an annual percentage yield of up to 0.60%, which is much higher than the national average for a CD account.
  • High minimum deposit. You must deposit a minimum of $10,000, which is high compared to most CD accounts.
  • Wide selection of CD terms. VirtualBank 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 VirtualBank eCD
Pros Cons
  • FDIC insured.
  • Multiple CD terms available.
  • Available in all 50 states.
  • High-interest yield.
  • No charge on incoming domestic or international wire transfers.
  • There isn't a no-penalty CD option.
  • Does not offer an IRA CD.
VirtualBank eCD FAQ

Are cd accounts from Virtual Bank federally insured?

Yes, your Virtual Bank cd accounts 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 Virtual Bank offer?

VirtualBank CD provides the following types of CDs.
  • Traditional CDs. These CDs pay a fixed interest rate i you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or rolling over the CD for another term.

What CD rates does Virtual Bank offer on its CDs?

VirtualBank CD offers an APY starting at 0.10% and ranging up to 0.60%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

What terms does VirtualBank CD offer?

Virtual Bank offers CD terms of the following lengths:
VirtualBank eCD Rates & Terms
Description
2-Year APY 0.40%
3-Month APY 0.20%
3-Year APY 0.45%
4-Year APY 0.50%
5-Year APY 0.60%
6-Month APY 0.30%
12-Month APY 0.30%
APY (Annual Percentage Yield) 0.10% - 0.60%

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

VirtualBank CD requires a minimum deposit of $10,000 to open an account.

What is the grace period for VirtualBank CD?

VirtualBank 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 VirtualBank CD 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 CD term ends.

Virtual Bank does not charge an early withdrawal fee.

Virtual Bank does not seem to 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.

Message From VirtualBank eCD

Manage and move money seamlessly with a smarter, fresher digital banking experience. Get a competitive rate on a CD. Featuring flexible terms and guaranteed returns, our eCD provides you with the ability to earn competitive interest rates. 

 

 

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Opening Deposit Starting at $10,000
2-Year APY 0.40%
3-Month APY 0.20%
3-Year APY 0.45%
4-Year APY 0.50%
5-Year APY 0.60%
6-Month APY 0.30%
12-Month APY 0.30%
APY (Annual Percentage Yield) 0.10% - 0.60%
CD Accounts Traditional
Certificate Term
  • 1 month
  • 3 months
  • 6 months
  • 9 months
  • 12 months
  • 18 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years

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