Find the latest FVCbank No Penalty CD Rates, Offers, and Promotions here.
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At the moment you can earn 5.30% APY with the 12-Month No-Penalty CD.
FVCbank CD Account Summary
FVCbank considers success to include contributing to customer prosperity and satisfaction. Clients are always top-of-mind.
So, whether you want to create a company or build retirement savings, FVCbank and its experienced bank officers want to help you prosper financially.
FVCbank sets itself apart by employing new technology for its products and services to achieve a superior customer experience.
In addition, the bank is fully committed to supporting the communities it serves while encouraging its employees to give back to others by volunteering time, treasure, and talent.
Success is one of the bank’s tenets, and giving back helps ensure success for all.
- Availability: Nationwide (Online Bank)
- Minimum Balance Requirement: $1 minimum deposit
FVCbank No Penalty CD Rates
Term | APY Rate | Minimum Deposit |
12-Month No-Penalty CD | 5.30% | $1 |
FVCbank No Penalty CD Account Features
- FDIC insured. No fees. $1 minimum deposit.
- 24/7 online access to funds.
- Works to improve the quality of life in the communities they serve
What is a No-Penalty CD?
A no-penalty CD can be seen as a traditional certificate of deposit, however, there is one key difference. In a traditional CD, you’ll have limitations and penalties or even full restrictions on withdrawals prior to the account reaching maturity.
What does it mean when a CD reaches maturity? Simply put, it is the CD’s term length. Example: A 12-month CD will mature after 12 months following purchase date.
Now, as the name suggests, a no-penalty CD does not incur an early withdrawal penalty if you need those funds prior to the CD’s maturity. These are otherwise none as liquid CDs as the offer liquidity giving you access to your funds. Normally, no-penalty CDs offer a lower rate than a traditional CD, but will usually offer a higher rate than most savings accounts.
Are My Deposits Safe?
Yes, your funds are FDIC-insured to assure peace of mind.
Conclusion
At the end of the day, the current range of CD rates available through FVCbank are great for those who would like to earn a great rate through one of the most trusted financial institution nationwide.
Because the bank is online only, you get to earn more for a lot less than your typical brick and mortar banks.
With a range of rates to choose from, you can definitely count on the bank to help you through every step of your banking process!
However, if you are not currently interested, be sure to see our complete list of the Best CD Rates for all your banking needs!
Compare the FVCbank No Penalty CD to CIT Bank’s No Penalty CD and many other no penalty CDs here.
Disclaimer: Rates / APY terms above are current as of the date indicated. These quotes are from banks, credit unions and thrifts. Bank, thrift and credit union deposits are insured by the FDIC or NCUA. Contact the bank for the terms and conditions that may apply to you. Rates are subject to change without notice and may not be the same at all branches.