Although Bread Savings has a bit of a bland name, it actually offers some pretty exciting CD options if you’re looking to maximize your earnings. Bread Savings CD rates are currently some of the highest being offered by any bank, as of publication.
But as with any bank, there are limitations. Bread Savings CDs are a good choice if you have at least $1,500 you can part ways with temporarily, to be reunited with later (and with a good bit of interest, too).
The APYs listed below are up to date as of the date of publication of this article. We review CD rates every two weeks and update the information below accordingly.
180 days’ interest for 1-, 2-, or 3-year CDs 365 days’ interest for 4- and 5-year CDs
Bread Savings offers a simple yet valuable range of CDs. Instead of giving you a case of analysis paralysis with lots of different offerings and conditions, Bread makes it easy to make a decision: You get a choice of five different CD options, at one-year intervals. As of publication, the rates offered on these CDs are especially good—even for the shorter-term options—compared with most other banks and credit unions.
The only downside of these CDs is the relatively high minimum deposit requirement of $1,500 per CD. Many banks charge higher amounts, to be sure. But there’s also a plethora of other CDs available offering these same rates, but with no minimum deposit requirement.
If Bread Savings changed this policy it would be more accessible to everyone, regardless of where you are on your savings journey. As it currently stands, only high-balance savers can access these CDs, especially if you’re hoping to open multiple CDs using a CD ladder strategy.
About Bread Savings
Bread Savings is an online-only financial institution specializing in high-yield savings accounts and CDs. If you’ve ever heard of Comenity Bank, the issuer of many popular retail store credit cards, you may be familiar with Bread Savings. A division of the company rebranded in March 2022, switching things up to offer more customer-friendly savings accounts into the mix—such as these high-yield CD accounts.
Bread Savings does have a maximum deposit limit of $1,000,000 per CD, and $10,000,000 per customer. However, we don’t recommend keeping more than $250,000 in the account because unlike some other banks, Bread Savings doesn’t offer a CDARS or ICS program that spreads your larger balances out among banks in order to keep the same FDIC protection on a larger balance of money.
Bread Savings isn’t a full-service bank with a checking account, so it’s also a good choice if you’re looking to keep your savings a bit more separated from your everyday bank accounts.
Compare Savings Account Rates
Do CDs at Bread Savings Auto-Renew?
Yes. When your Bread Savings CD matures and its term ends, it’ll auto-renew for another term. When it renews, it’ll do so at the then-current rates, not necessarily at the rates you were earning during your prior term. You will have a 10-day grace period when you can withdraw the money penalty-free if you want to use it.
What Is the Minimum Deposit to Open a CD Account at Bread Savings?
Bread Savings requires a minimum $1,500 deposit for its CDs. This is slightly higher than average, especially considering that there are many options for CDs these days with no minimum deposit requirements.
Can You Ladder CDs at Bread Savings?
Yes, you can create a CD ladder with CDs from Bread Savings. It even offers a handy CD ladder calculator on its website that can help you plan out a good CD ladder strategy given how much you have to invest, letting you know how much you can expect to earn in return.
Is There an Early Withdrawal Penalty for CDs at Bread Savings?
Yes, Bread charges early withdrawal penalties. If you withdraw your money early from a CD with a term shorter than one year, you’ll pay a penalty of 90 days worth of interest; for a one-, two-, or three-year CD, you’ll pay an early withdrawal penalty of 180 days’ worth of interest. And for terms of four years and up, you’ll pay an early withdrawal penalty of 365 days’ worth of interest.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checkbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
