CD Bank


Overview / Commentary
888-201-8185
12700 Park Central Drive, Suite 1700
Dallas, TX 75251

Related Posts

CD Bank Offers Top-Rate 24-Month CD, 3.20% APY - 4/24/2019

CD Bank (internet bank) has increased rates on its 24-month (3.20% APY), 6-month (2.75% APY), 12-month (3.00% APY) and 18-month (3.10% APY) CDs. $10k min deposit.

CD Bank Offers 24-Month CD Nationwide - 7/24/2018

CD Bank (internet bank) is offering the first nationally available 24-month CD that earns 3.00% APY. Minimum deposit is $10k, with no stated balance cap.

CD Bank's Nationally Available 12-Month CD Rate Increased - 6/19/2018

CD Bank (internet division of TBK Bank, SSB) has raised the rates on its short-term CDs, including the 12-month (2.50% APY) and 9-month (2.25% APY). $10k min deposit.

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Competitive 1-2 Year Rates, Systems & Customer Service Lacking

Posted by: willy12 | May 11, 2019

Customer service is lacking apparently because of many new customers. No ACH out and no plans to later allow it. $10 wire fee out. No checking account to go with it. Additional accounts require duplicate sign ups & snail mailing paperwork.

They responded to my first email and my first phone call but after that, they did not always answer the phone did not respond to emails and even when they did answer they did not know what was going on.

They did not know they got my paperwork & check on a timely basis but when they finally admitted it I found it was dated when it should have been. (I sent it on a monday, they posted it on friday but I did not know until the following thursday and that took multiple calls to find out)

I am not sure if they backdated it to compensate for their issues or what. Dallas is where you send the paperwork & checks. The ladies who answer the phone are at a different location. Multiple calls inquiring about the status of my paperwork got me nowhere. I even got cut off a few times and they did not call me back. The last time they did call me back and finally confirmed they had gotten my paperwork. And gave me my account number and said I could sign into online banking the next day.

If they did not have a top rate, my review would have been far less charitable.

The 2 year CD has a high EWP but I cannot imagine needing or wanting to close it early so I did not let that stop me.

My hope is they will work thru their customer service issues and in 2 years have top rates again.
Or at least wave the wire transfer out fee.

I sent checks because their system had no way to allow X from one place and Y from another place without opening multiple CDs and duplicate snail mail paperwork. Even your basic information has to be reentered for each new CD I'm told.

Great Rate: Considerations ....

Posted by: BeeDee | May 7, 2019

Best 12 month CD rate to my knowledge (as of 5/6/19). Consider: while you may electronically transfer money in you cannot electronically transfer out. Instead they send a check if you ask for it. When I spoke with a representative he said this could change in the future." Hopefully it does. Another consideration is that the current rates posted on the site are said to be valid "as of 4/23" - nine business days ago.

Worst Experience Ever

It took 12 days to open an online CD and another 14 days to get confirmation that the account had actually been opened. I could not reach customer service for a week, just got a recording telling me to leave a number. No messages were ever returned. I lost $175 in interest waiting for my CD to be opened. Not worth the few basis point of extra interest. No telling how long it will take to get my money back when the CD matures.

Read The Terms And Conditions

Posted by: Adagiopop | 10 hours ago

I looked into CDBANK (parent bank is TBK Bank) because rates seemed good, but the T&C (Truth in Savings Disclosure) seemed to have some bad terms. I don't like doing business with banks that have the bad stuff in the fine print.

For example, default is for interest to be compounded semi-annually.

Also, early withdrawal penalties are 90 days for less than 1 year; 12 months for 1 year to less than 2 years. 12 months penalty for a 1 year CD!!! 18 months for 2 years to less than 3 years.

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Health
A+

Health Grade Components

Overall
FDIC Certificate #23498
Year Established1981
Employees1116
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.51%
Return on Equity - YTD11.2%
Annual Interest Income$261.0MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$4.52B$3.47B
LoansQ4 2018vs Q4 2017$3.57B$2.85B
DepositsQ4 2018vs Q4 2017$3.47B$2.66B
Equity CapitalQ4 2018vs Q4 2017$670.9MM$407.1MM
Loan Loss AllowanceQ4 2018vs Q4 2017$27.5MM$18.7MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$27.0MM$30.9MM
Real Estate OwnedQ4 2018vs Q4 2017$2.1MM$9.2MM
Rates
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CD Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.20%$10k-24 Month CD
3.10%$10k-18 Month CD
3.00%$10k-12 Month CD
2.75%$10k-6 Month CD
2.45%$10k-9 Month CD
2.10%$10k-60 Month CD
2.00%$10k-48 Month CD
1.90%$10k-3 Month CD
1.90%$10k-36 Month CD
Locations

CD Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 12700 Park Central Drive, Suite 1700 - Dallas, TX 75251

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.