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Best CD Rates on SaveBetter in May 2022

  • FDIC insured. No fees. $1 minimum deposit.

  • 24/7 online access to funds.

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What Is SaveBetter?

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The SaveBetter platform features a curated selection of high-yielding products offered by our network of banks. It’s your destination to discover competitive savings products and start saving wisely. Select and fund multiple savings products from different institutions, and manage them all from one account!

Safety

Safety

Funds deposited into any of the products on SaveBetter.com are always held by an FDIC-insured institution. A very easy and safe way to diversify your deposit portfolio.

Choice

Choice

Access quality products from our network of banks. Find the product that’s right for you.

Convenience

Convenience

One account to remember. Simplified statements. Easy access to manage your funds – all through a streamlined digital platform.

How SaveBetter Protects Your Money and Personal Information

All deposit balances on the SaveBetter platform are held at FDIC insured financial institutions

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All participating banks are members of the FDIC. Deposits in participating banks are insured by the FDIC up to the limits of federal law. The standard insurance amount is $250,000 per depositor, per insured bank, for each deposit account ownership category.

Click to learn more about FDIC insurance

Cybersecurity is a top priority at SaveBetter

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We invest in a variety of technologies to protect our customer’s data, privacy and transactions. These include Multi-Factor authentication, encryption, and Cloudflare advanced internet protection and monitoring. We are a SOC 2 certified organization, which means we have met the requirements outlined by the American Institute of Certified Public Accountants (AICPA) to ensure that we have the controls in place to keep customers' data secure and private.

Click to learn more about SOC 2 certification

Open an Account in 3-5 minutes

Select a product

Select

the right product for your savings goals.

Register for a SaveBetter account

Register

with an email address and password, then verify your identity and bank information.

Add funds

Fund

the savings products you add to your new SaveBetter account.

Why SaveBetter Is, Well, Better

SaveBetter
Safety: One secure account guards your personal data and safely allows you to tap into yields from multiple savings products.

VS

Traditional Banking
Multiple signups, savings accounts, and products at different banks each requires providing your sensitive personal information.
SaveBetter
Choice: Access diverse and competitive FDIC-insured savings products that increase your savings potential.

VS

Traditional Banking
Less savings and CD products options may limit your savings potential.
SaveBetter
Convenience: Only one SaveBetter account is required. You can manage your chosen savings products from our platform.

VS

Traditional Banking
Opening new bank accounts at multiple banks means more statements, passwords, and wasted time.

Benefits of Certificates of Deposit (CDs)

Dropping a coin into a piggy bank

Certificates of deposit, also known as CDs, are a type of deposit account offered by banks and credit unions. CDs allow you to earn interest on your money like other deposit accounts, such as a savings account, but there are some key aspects that make CDs unique. Notably, CDs tend to offer among the highest available interest rates of all banking deposit products.

Unlike savings accounts or money market accounts, you can deposit a set amount of money into your CD account and commit to leaving your money there for a fixed period of time. Terms may last as little as three months, or as long as five years (60 months) or even longer. In return, you'll earn a fixed amount of interest based on a predetermined interest rate. The rate of a CD typically does not change during the during term, which is why you may see the product called a fixed-term CD. Another type of CD is a no-penalty CD, which gives the owner more flexibility to withdraw funds before the CD's maturity date.

When the CD term is up — when the product has reached maturity — you’ll be able to withdraw your original balance plus any interest earned, or opt to rollover all or part of those proceeds into a new CD with a new term. A key benefit of opening a CD is you’ll know exactly how much of a return you’ll receive when your money is ready to withdraw at the maturity date you selected.

CD Accounts vs. High-Yield Savings Accounts

CD Accounts
Fixed interest rates depending on the term length.

VS

High-Yield Savings Accounts
Interest rate may be subject to change based on market conditions and financial institution
CD Accounts
Some banks may require high minimum deposits for CDs; $500 is common (SaveBetter does not)

VS

High-Yield Savings Accounts
Some banks may require high minimum deposits and charge fees if you dip below the minimum (SaveBetter does not)
CD Accounts
With fixed-term CDs, customers may be charged a penalty for early withdrawal. No-penalty CDs do not have early withdrawal fees

VS

High-Yield Savings Accounts
Some banks may place limits on frequency of withdrawals from high-yield savings accounts (SaveBetter does not)

CD Account Rates Available on SaveBetter

Financial institution
APY
Term
The State Exchange Bank
1.71%
60 Months
Ponce Bank
1.61%
48 Months
The State Exchange Bank
1.51%
36 Months
The State Exchange Bank
1.36%
24 Months
mph.bank
1.45%
15 Months
The State Exchange Bank
1.55%
13 Months
Ponce Bank
1.31%
13 Months
Continental Bank
0.90%
13 Months
Ponce Bank
1.21%
11 Months
mph.bank
1.25%
10 Months
The State Exchange Bank
0.90%
9 Months
The State Exchange Bank
1.10%
7 Months
Continental Bank
0.65%
5 Months
The State Exchange Bank
0.55%
4 Months
Continental Bank
0.55%
3 Months

Tips for Using Certificates of Deposit

Flat lay arrangement with a calculator, cash, a notepad, and a pen

There are a host of advantages to leveraging certificates of deposit (CDs) to boost your savings. You are likely to earn more interest with a CD compared to that of a competitive high-yield savings account. Plus, the interest rate you earn for the duration of the CD term won’t fluctuate over time. And you can pick a term to fit your needs. This feature allows you to structure CDs in sequences, such as the CD ladder, which provides periodic access to savings while tapping the highest available interest rates of the longest-term products.

Click the button to read more about how to maximize your savings with CDs.

FAQs

Call us: 844-994-EARN (3276)(Monday to Friday from 9:00 a.m - 4:00 p.m)
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The SaveBetter name and logo are trademarks of SaveBetter LLC. The Deposit Solutions name and logo are trademarks of Raisin GmbH, used with permission. The Central Bank of Kansas City name and logo are trademarks of Central Bank of Kansas City, used with permission. Continental Bank is a trademark of Continental Bank, used with permission. Ponce Bank and the Ponce De Leon image are trademarks of Ponce De Leon Federal Bank, used with permission. WEX Bank is a trademark of WEX Bank, used with permission. The State Exchange Bank is a trademark of The State Exchange Bank, used with permission. Patriot Bank is a trademark of Patriot Bank N.A., used with permission. Liberty Savings Bank is a trademark of Liberty Savings Bank, used with permission. mph.bank and mph.bank Mark are trademarks of Liberty Savings Bank, FSB, used with permission.

© 2022 SaveBetter LLC. All rights reserved.

APY means Annual Percentage Yield. APY is accurate as of May 12, 2022. Interest rate may change after initial deposit. Minimum opening deposit is $1.00.

Each customer authorizes the Custodian Bank to hold the customer’s funds in a custodial capacity in order to facilitate the customer’s deposits to and withdrawals from deposit accounts at various Product Banks that the customer requests through SaveBetter.com. The Custodian Bank does not establish the terms of the deposit accounts, or offer the deposit accounts to customers, and provides no advice to customers about deposit accounts. Central Bank of Kansas City, Member FDIC, d.b.a. Central Payments is the Service Bank. Custodian services are provided by Lewis and Clark Bank.