Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.10% - 0.60%(Verified 06/21/2024)
Disclaimer popup with additional information
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
VirtualBank eCD Review
VirtualBank eCD are offered by VirtualBank, a bank founded in 2009 and based in Palm Beach Gardens, FL. VirtualBank CD are available in 50 states and Washington, DC.
Key Takeaways
- Only one CD type available. VirtualBank CD only offers traditional CD accounts.
- Low APY. The maximum annual percentage yield for this account is only 0.60%.
- 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
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VirtualBank eCD FAQ
Are CD from VirtualBank, a division of First Horizon Bank federally insured?
Yes, your VirtualBank 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 VirtualBank offer?
VirtualBank 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 VirtualBank 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?
VirtualBank offers CD terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Month APY | 0.20% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 12-Month APY | 0.30% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 0.10% - 0.60% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 6-Month APY | 0.30% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2-Year APY | 0.40% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Year APY | 0.45% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4-Year APY | 0.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 5-Year APY | 0.60% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a CD account with VirtualBank?
VirtualBank CD require 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 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.
VirtualBank charges an early withdrawal fee.
VirtualBank 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.
Message from VirtualBank CD
Hours of Operation
Sunday
Closed
Monday
8:30AM - 5:30PM
Tuesday
8:30AM - 5:30PM
Wednesday
8:30AM - 5:30PM
Thursday
8:30AM - 5:30PM
Friday
8:30AM - 5:30PM
Saturday
Closed