VirtualBank Raises Rates On Four CDs


Availability: Internet bank

There hasn’t been much occasion to write about any of VirtualBank’s products in almost 18 months. That changed over the weekend with the rate increases on its 12-month eCD (1.26% APY), 18-month eCD (1.31% APY), 2-year eCD (1.51% APY), and 3-year eCD (1.56% APY). These new rates are the highest for these eCDs in more than five years.

The minimum opening deposit for any of VirtualBank’s eCDs is $10k, with no stated balance cap. Interest is compounded and credited monthly.

1.56%$10k-Virtual Bank3 Year eCD
1.51%$10k-Virtual Bank2 Year eCD
1.36%$10k-Virtual Bank18 Month eCD
1.31%$10k-Virtual Bank12 Month eCD
Accounts mentioned in this post. Rates as of January 23, 2017.

As stated in VirtualBank’s Terms and Conditions, the Early Withdrawal Penalty (EWP) reads as follows:

  • Term greater than 180 days, but less than or equal to one year, three months EWP
  • Term greater than one year, but less than or equal to two years, six months EWP
  • Term greater than two years, but less than or equal to four years, twelve months EWP
  • Availability

    Headquartered in Miami, VirtualBank is an internet only bank that offers it services and product line nationwide.

    As stated on the eCD page opening any VirtualBank eCD must be done online:

    Step 1: Complete our online certificate of deposit application and provide certain information about yourself and any joint owner. To fund the eCD quickly and electronically, we will need your personal checking account number, bank name and routing number. You can choose to connect the eCD to any checking account, including one at VirtualBank.

    Step 2: We'll send two small deposit amounts to your personal checking account. You then review your checking account transactions to verify these deposits.

    Step 3: Let us know you received both deposits and verify the amounts online.

    Step 4: Then we'll electronically transfer the opening deposit from your connected checking account.

    Bank Overview

    VirtualBank (FDIC Certificate # 21837) has an overall health grade of "A" at, with Texas Ratio of 8.86%, based on June 24, 2016 data. In the past year, VirtualBank has increased its total deposits by $448.47 million, an excellent annual growth rate of 11.64%. Please refer to our financial overview of VirtualBank for more details.

    VirtualBank was originally the internet branch of Lydian Private Bank. When Lydian failed in 2011, Sabadell United Bank assumed all deposits, and VIrtualBank has continued to operate as an internet bank solely. Sabadell United Bank maintains a high-level presence in South Florida with 24 branches and assets in excess of $5.4 billion.

    How the eCDs Compare

    Of the four eCDs with new APYs, the 12-month and 2-year eCDs are the most competitive.

    When compared to the 208 similar length-of-term CDs tracked by, which require a similar minimum deposit and are available nationally, VirtualBank's 12-month eCD APY currently ranks fourth.

    When compared to the 28 similar length-of-term CDs tracked by, which require a similar minimum deposit and are available nationally, VirtualBank's 2-year eCD APY currently ranks second.

    The above rates are accurate as of 10/24/2016.

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

    Anonymous   |     |   Comment #1
    Lousy rates regardless of where they rank. 

    Will anyone here admit to investing in one of these?
    Anonymous   |     |   Comment #2
    Not many options for CDs. The rates for 5 year CDs are close to 2%
    Anonymous   |     |   Comment #3
    Ken, I would like to share a very important info with your readers and hope you will not delete it.

    In the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 is stated that the bail-in is another weapon in the government's arsenal of capital controls that allows the government to  bail-in (confiscate) our money while we sleep and will come upon us quickly, harshly, and with finality. The globalists count on it as a final blow to the middle class and to subdue all of the resistances to them. If Hillary comes in (a certified globalist), I will pull out all of the money from any US bank.
    Anonymous   |     |   Comment #4
    Please start a Miscellaneous Forum Post
    Some of us need to have one central place where all your informative
    posts can be taken in context.
    I hope you vote or we're on our way to Hades
    Anonymous   |     |   Comment #5
    2nd Amendment
    Anonymous   |     |   Comment #6
    I opened a checking account some years ago, it pays no interest. I've had a hard time closing this account and getting my money back after several calls about how to close my account. Not so thrilled with the bank. 
    Anonymous   |     |   Comment #7
    Embellishment is theft.  Tell them they're are to forthwith release your funds...if not, what are you going to change?
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    Availability: Nationwide

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    As stated in VirtualBank’s Terms and Conditions, the Early Withdrawal Penalty (EWP) reads as follows:

      Greater than

      180 days

      One year

      But less than or equal to

      One year

      Two years


      3 months

      6 months


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