Find the latest Patriot Bank No Penalty CD Rates, Offers, and Promotions here.
At the moment you can earn 5.15% APY with their 13-Month CD.
About Patriot Bank No Penalty CD Rates
Patriot Bank is a leading community and commercial bank headquartered in Stamford, CT with branches in the Connecticut counties of Fairfield and New Haven, as well as in Scarsdale, New York.
Founded in 1994, Patriot Bank provides deposit and lending products and services nationally. Patriot’s mission is to serve its local community and nationwide customer base by providing a growing array of banking solutions to meet the needs of individuals and small businesses owners. Patriot places great value in the integrity of its people and how it conducts business. An emphasis on building strong client relationships and community involvement are cornerstones of our philosophy as we seek to maximize shareholder value.
- Availability: Nationwide (Online Bank)
- Minimum Balance Requirement: $1 minimum deposit
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Patriot Bank No Penalty CD Rates
Term | APY | |
13-Month High Yield CD | 5.15% | Learn More |
17-Month No Penalty CD | 2.70% | Learn More |
Patriot Bank No Penalty CD Account Features
- FDIC insured. No fees. $1 minimum deposit.
- Financial solutions to help you do more of what you love.
- Interest compounded daily
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.
Conclusion
If you’re looking to open a CD, consider the no penalty CD from Patriot Bank and earn a competitive rate on your funds.
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 no penalty CD rates or best CD Rates for all your banking needs!
Compare the Patriot Bank No Penalty CD to CIT Bank’s No Penalty CD.
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.