Bread Savings CD Rates for November 2023

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Bread Savings is a product of Comenity Capital Bank, an FDIC-insured bank headquartered in Utah. Comenity and Bread Savings are subsidiaries of Bread Financial, which offers loans and financing, credit cards and savings products such as high-yield savings accounts and certificates of deposit. Keep reading to learn more about Bread Savings CD rates for November 2023.

What Are the CD Rates at Bread Savings?

Bread Savings has CDs with terms of one to five years. Here is a closer look at Bread Savings CD rates.

Bread Savings CD Fees

While Bread Savings CD rates are some of the highest you can find, especially for its 1-year CD, there are also some fees associated with Bread Savings CDs that you should be aware of.

• You will pay $5 for a paper statement associated with your CD account.
• Outgoing wire transfers from your Bread Savings CD account will cost $25 per wire transfer. There is no charge for incoming wire transfers.
• If you request a CD withdrawal to be paid via official check, you will pay $15 for the check, along with any early withdrawal penalties that may be associated with your request.
• Early withdrawal penalties for CDs ranging in terms from 1 to 3 years equal 180 days simple interest. For CDs with terms of four years or longer, you will pay an early withdrawal penalty of 365 days of interest.

Good To Know

Bread Savings CDs have no monthly maintenance fees. CDs will auto-renew when they mature. At that time, you have a 10-day grace period to withdraw the money without penalties.

Funds deposited into your Bread Savings CD are typically available 10 business days after opening the account.

You must have a minimum opening deposit of $1,500 to open a Bread Savings CD. The company has deposit limits of $1 million per account and $10 million per Bread Savings customer. Funds are FDIC insured up to the allowable limit of $250,000 per customer per account category.

Is Your Money Safe With Bread Savings?

You might be wondering if your money is safe with Bread Savings since it is not a traditional bank. Any money in a Bread Savings account is FDIC-insured up to $250,000 per person, per deposit account category. It is backed by Comenity Capital Bank. Comenity holds total assets of more than $8 million.

How To Open a CD at Bread Savings

If you are interested in Bread Savings CD rates, it’s easy to open a CD online. Choose the term you want — from one year to five years. Enter some basic information, including your name, email address, phone number and mailing address. You can choose to make your CD a joint account. If you do, you’ll need the personal information for both account holders.

Once you enter your name, email and phone number, you’ll receive a confirmation code. If you don’t see it within a few minutes, check your junk mail folder. After you’ve entered the code, you’ll need to provide a mailing address and your Social Security number. Then, you can begin funding your account.

You can fund your account via an ACH transfer from another bank or by depositing a paper check through the Bread Savings mobile app. Funds will be available in your account within 10 business days. Keep in mind that you should let your money grow until the CD matures to avoid early withdrawal penalties.

Final Take

As an online financial services company, Bread Financial is not a traditional bank and does not have brick-and-mortar branches. If you are looking for more of a full-service bank with a checking account, debit card and in-person branches for customer service, you’ll want to choose a different company. But for those comfortable with online banking, Bread Savings can be a fantastic option for anyone looking for a high-yield CD with terms of one to five years.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Nov. 2, 2023. 

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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