CD Bank Review

How does your bank stack up?

  • Financial Rates: 5.0 Star Icon
  • Customer Service: 3.0 Star Icon
  • Website Experience: 5.0 Star Icon
  • Bank Fees: 5.0 Star Icon


  • Good variety of CD terms and no fees
  • Competitive interest rates on CDs
  • Can open any CD account online
  • Short-term CDs offer competitive rates


  • Only CDs offered
  • Must link CDs to external accounts
  • High opening required amounts
  • Customer service not available 24/7

What You Need to Know

There are a variety of CD terms offered through CD Bank. The terms range from three-month to 60-month terms. There are nine CDs offered between those terms. There are no fees to open the accounts or to maintain the account. The only fee is if you withdraw the money before the CD reaches maturity.

Each of the accounts offered through CD Bank offer competitive interest rates. The rates are competitive with other online CDs. The rates are much higher than typical brick and mortar bank rates.

CD Bank is an entirely online bank. You can open any CD term online as long as you meet the requirements. You must be at least 18 years old and a U.S. citizen or resident alien. The process to open a CD with CD Bank is completely online.

Usually, with CDs, the longer terms earn more competitive interest rates. However, some short-term CDs from CD Bank offer more competitive rates than the longer terms. The 9, 12, 18, and 24-month CD terms offer the most competitive interest rates.

CD Bank offers a limited amount of accounts. They only offer personal deposit CDs. Those CD terms range from three-month to 60-months. There are no other personal deposit accounts available. There are also no business accounts offered through CD Bank.

The easiest way to fund CD Bank accounts is to link the account to an external account. You can mail a check or request a wire transfer. To make electronic transfers does require a linked external account. Money can only be deposited into CD accounts at CD Bank during the grace period after the CD reaches maturity.

The amount required to open any CD with CD Bank is high. Each term requires $10,000 to open. You must also have $10,000 in the account to earn the most competitive interest rate. Balances under $10,000 do not earn the competitive interest rates.

Customer service for CD Bank has specific hours. They are open Monday through Friday from 9 a.m. to 5 p.m. Central Time. If you contact customer service after hours, they will address your issue the next business day.

Cool Things

CD Bank Blog

The CD Bank website offers a few blog posts. These posts answer general questions about CDs. These posts explain why a CD is a good way to invest your money. Learn how to keep safe from scams or hacks as well.


CD Bank is an online-only bank. It is the online division of TBK Bank. TBK Bank headquarters are in Dallas, Texas. TBK has over 50 branch locations in Colorado, Iowa, Illinois, Kansas, New Mexico, and Texas. TBK offers personal deposit accounts and business accounts.

CD Bank offers online CDs only. Those CDs are available to anyone over 18, who is a resident of the United States. You do not have to live near a branch location to open a CD with CD Bank. The CD terms offered range from 3-months to 5-year terms.

Frequently Asked Questions

Is CD Bank FDIC insured?

Yes. This CD Bank is FDIC insured. The FDIC is an agency of the United States government that protects funds deposited in banks, up to $250,000 per customer, per bank. The money deposited in FDIC insured banks means money is backed by the full faith and credit of the United States government.

How do I access my money?

Access your money mainly through electronic transfers. You can request a check or a wire transfer.

Does CD Bank offer mobile banking?

No mobile app is listed on the website.

Is CD Bank free?

Yes. The CDs offered through CD Bank do not have a monthly fee. The only fees for CDs are from withdrawing the money before the maturity date.

Is CD Bank a good bank?

The interest rates for the CDs are competitive with other online accounts. The only accounts offered are CDs. The opening required amount for each CD is $10,000. There are no monthly fees.

Is CD Bank secure online?

CD Bank offers security measures that comply with federal laws. Their computers have safeguards, and their buildings and files are secure.

Does CD Bank offer competitive interest rates?

Yes. CD Bank CDs offer competitive interest rates. Their rates are competitive with other online accounts. They are much higher than typical bank rates.

Can I use CD Bank for my business accounts?

No specific business accounts are available through CD Bank. The only accounts are personal deposit CDs. Those terms range from three months to five years.

How is CD Bank online banking different from the online banking my bank offers?

Everything for your CDs through CD Bank is online. There are no branch locations. The interest rates for CD Bank are much higher than your typical bank rates.

Do CD Bank checking accounts pay interest?

CD Bank does not offer checking accounts. The only accounts offered are CDs.

How do I reach customer service?

By phone, email, or mail. Customer service has specific hours. They are open Monday thru Friday from 9 a.m. to 5 p.m. Central Time.

Does CD Bank offer bill pay?

No. No checking accounts are offered, so no bill pay is available. The only accounts offered are CDs.

Can I deposit cash?

No. Make deposits through electronic transfers from your linked external account. You can mail in a check or request a wire transfer.

How long do transfers take?

Specific transfer times are not listed on the website.

Can I sign up for direct deposit to CD Bank accounts?

You can transfer money electronically from the linked external account. You can only deposit money during the grace period or after the CD reaches maturity.

Bank Contact Information

CD Bank
12700 Park Central Drive, Suite 1700
Dallas, Texas 75251

BankTruth works to have the most up-to-date information on our website. The listings that appear on our pages are from companies from which this website may receive compensation, which may impact how, where and in what order products appear. Even so, we work hard to review banks fairly and pass the information onto you, the consumer. Please be aware that we cannot guarantee bank services and promotional offers. If you find a mistake, please contact us.

Sponsored Offers

Advertiser Disclosure
American Express
Savings (Rate as of 2/29/2024)
APY 4.35%
Rate 4.26%
For APY $1
Monthly Fee $0.00
Checkbook No
Member FDIC
Next >