Sunday, 1 November 2020

WebBank Review: Savings and CD Rates

WebBank Review: Savings and CD Rates
15 Jun
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WebBank’s Most Popular Accounts


Account Type

Account Name

Compare Rates from Similar Accounts



WebBank Savings


American Express National Bank High Yield Savings Account


on American Express National Bank’s secure website

Member FDIC


CD Rates

WebBank 1 Year CD


Goldman Sachs Bank USA High-yield 12 Month CD


on Goldman Sachs Bank USA’s secure website

Member FDIC


CD Rates

WebBank 5 Year CD


Goldman Sachs Bank USA High-yield 5 Year CD


on Goldman Sachs Bank USA’s secure website

Member FDIC

WebBank’s savings account option

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How WebBank’s savings account compares

Good news for those looking to max out their savings account interest rate: this bank currently offers one of the highest interest rates of any savings account available today. It also falls a bit in the “Goldilocks” zone for the minimum deposit: Some banks offering similar rates require a higher minimum deposit, while some offer less.

If you’re still shopping around, it’d be worthwhile to take a look at the best online savings accounts to compare other similar banks based on factors that may be important to you as well, such as the ability to use ATMs, or banks that also offers a checking account.

WebBank’s CD rates

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How WebBank’s CD rates compare

WebBank’s CD rates are very competitive, and rank near the top of the highest-paying CDs nationwide for every one of its term lengths. If you’re looking for a higher APY, you can find better rates in some cases but not by much. The only downside is that this bank doesn’t offer a four-year term, so if you won’t be able to do a staggered set of one-year CDs as per a standard CD ladder. But if any of these term lengths fit, they’d be good options.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Lindsay VanSomeren


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