Colorado Fed Savings Bank Boosts 12-Month CD To 2.51% APY

POSTED ON BY

Deal Summary: 12-month CD (2.51% APY), $5k minimum deposit

Availability: Nationwide (internet bank)

Colorado Federal Savings Bank (CFSB) added 21 bps to its 12-month CD (2.51% APY) yesterday, making it the top-rated nationally available 1-year CD (minimum deposits of $10k or less). In the seven-plus years DA has been tracking CFSB CDs, the 12-month has offered a top APY seven times, with the rate lasting only a few weeks.

In early March, the 12-month CD held the top spot (albeit by 1 basis point) with its 2.11% APY for about three weeks. This week’s rate increase has again boosted the 12-month CD into the top spot by the slimmest of margins: 1 basis point. The minimum deposit is $5k, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.51%$5k-Colorado Federal Savings Bank12 Month CD
Rates as of July 21, 2018.

Of the remain five CDs offered by CFSB, the 6-month CD (2.05% APY) seems to be the most competitive.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.05%$5k-Colorado Federal Savings Bank6 Month CD
Rates as of July 21, 2018.

Note: CFSB recently updated their website. Links to all the documents referenced below can be found on the Bank’s FAQs page or the Certificate Rates page.

As stated on the Certificate Rates page, the Early Withdrawal Penalty for the 12-month CD reads as follows:

Early Withdrawal Penalty for withdrawals prior to maturity date equals 3 months’ worth of interest on Certificate Term of one year or less and 6 months’ worth of interest for a certificate term over one year.

The Disclosure of Account Terms on the CD page also states:

The external account used to fund your CFSB savings or CD account will remain on file for the duration of your new account. This policy ensures that your funds will only be returned to the account from which they originate.

In other words, make sure the checking account you link to the CD when funding, is a checking account you intend to keep open for the term of the CD, as CFSB is not flexible on this point.

More than two years ago, CFSB began to offer PODs. According to the FAQs page:

The bank will only allow U.S. citizens and permanent resident aliens with a valid social security number to be added as a POD to an account. PODs can be added via the online application for new customers and secure message for existing customers. The bank will allow four joint owners to be designated on an account and up to five payable on death designations per account in equal percentages.

While CFSB’s position on PODs has changed, their position on trust or business remains the same – “No, we do not offer trust or business accounts.”

While the FAQ page provides many answers, more detailed information can be found in the Terms and Conditions of Your Account document.

Availability

As an internet bank, Colorado Federal Savings Bank offers its Savings accounts and CDs to all US citizens (18 years or older) who have a valid Social Security number. While CFSB's headquarters in Greenwood Village (15 miles south of Denver) provided a brick-and-mortar office in the past for customers who banked locally, this is no longer the case. Opening any type of account, and all subsequent transactions, must be done online.

Bank Overview

Colorado Federal Savings Bank has an overall health rating of "A+" at DepositAccounts.com, with a Texas Ratio of 0.42% (excellent), based on March 31, 2018 data. In the past year, CFSB has increased its total non-brokered deposits by $54.3 million, an excellent annual growth rate of 4.89%. Please refer to our financial overview of Colorado Federal Savings Bank (FDIC Certificate # 33111) for more details.

Established in 1990, Colorado Federal Savings Bank is currently Colorado’s ninth largest bank, with assets in excess of $1.85 billion and more than 168,000 customer accounts.

How the CD Compares

When compared to the 210 similar length-of-term CDs tracked by DepositAccounts.com, which require a similar minimum deposit and are available nationally, Colorado Federal Savings Bank’s 12-month CD APY currently ranks first.

Interest RateCD Length of TermCredit Union/Bank
2.51% APY12-Month CDColorado Federal Savings Bank
2.50% APY1-Year Term CDCIT Bank
2.47% APY12-Month CDState Bank of India

The above rates are accurate as of 7/13/2018.

To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Denver CD rates, 1-year CD rates, nationwide deals, Internet banks

Comments
Colorado Fed Savings Bank Pushes 12-Month CD APY Up
Deal Summary: 12-month CD (2.30% APY), $5k minimum deposit

Availability: Nationwide (internet bank)

Colorado Federal Savings Bank (CFSB) did it again: pushing its 12-month CD (2.30% APY) closer to the top of the nationally available one-year CDs by adding 10 bps. In the seven years DA has been tracking CFSB CDs, the 12-month has offered a top APY seven times, with the rate lasting only a few weeks. The minimum deposit is $5k, with no stated balance cap.

Note: CFSB has a new website....

Continue Reading
Colorado Fed Savings Bank 12-Month CD Nears The Top
Deal Summary: 12-month CD (2.20% APY), $5k minimum deposit

Availability: Nationwide (internet bank)

In the past 18 months, Colorado Federal Savings Bank’s (CFSB) 12-month CD has been a contender in the race to be the top-rated nationally available one-year CD. In the seven years DA has been tracking CFSB CDs, the 12-month has offered a top APY seven times, with the rate lasting only a few weeks.

In early March, the 12-month CD held the top spot (albeit by 1 basis point) with its 2.11% APY for about three...

Continue Reading
Colorado Fed Savings Bank 1-Year CD Has Top Rate
Deal Summary: CDs - 1-Year (2.11% APY), 2-Year (2.51% APY), 3-Year (2.56% APY), $5k minimum deposit

Availability: Nationwide (internet bank)

A little more than a year ago, Colorado Federal Savings Bank’s (CFSB) 1-year CD (1.35% APY) had the highest one-year rate for internet banks. Over the weekend, CFSB raised the rates on all its CDs, with the 1-Year (2.11% APY), 2-Year (2.51% APY), and 3-Year (2.56% APY) CDs now leading the rates race, albeit by 1 basis point. The minimum deposit for any CFSB CD is $5k, with...

Continue Reading
Colorado Federal Savings Bank Boosts Premier Savings
Deal Summary: Premier Savings, 1.65% APY, $50k minimum deposit, new customers only

Availability: Nationwide (internet bank)

In the past three weeks, Colorado Federal Savings Bank’s (CFSB) new Premier Savings account has experienced two rate increases, which added a total of 75 bps to its APY. The initial (and rather unimpressive) rate of 0.90% APY has rocketed to 1.65% APY on balances of $50k+ in only three months. The Premier Savings account is only available to new CFSB customers, who are defined as, “a customer who has...

Continue Reading
Colorado Federal Savings Bank Boosts Premier Savings APY
Deal Summary: Premier Savings, 1.45% APY, $50k minimum deposit, new customers only

Availability: Nationwide (internet bank)

About three months ago, Colorado Federal Savings Bank (CFSB) unveiled its Premier Savings, which intially earned a rather pedestrian 0.90% APY on balances of $50k+. Over the weekend, CFSB boosted that rate to an eye-catching 1.45% APY. The Premier Savings account is only available to new CFSB customers, who are defined as “a customer who has not maintained a CD or savings account with the bank in the prior 60...

Continue Reading

More Past Offers



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 feedback@depositaccounts.com 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.