Skyla’s Certificate of Deposit (CD) accounts produce a guaranteed rate of return on your savings. Get started with a minimum $500 opening deposit and choose your 6- to 60-month term. Dividends are compounded and credited monthly.
With a fixed rate, you know exactly how much interest you’ll earn.1
6 months to 5 years
A wide range of term options sure to fit your life.
$500 – that’s all it takes to open your brand-new CD account.2
Check out some of these frequently asked questions to determine if a Certificate of Deposit (CD) account is right for you!
how do cds work?
A CD is a savings account that locks in your money for a specific amount of time (your term) with a fixed interest rate (stated in APY*) that's typically higher than regular savings accounts.
when should i choose a cd?
A CD is ideal if you have extra savings that you’re ready to start earning even higher interest on and are comfortable not being able to access that money for 6- to 60-months, depending on your term.
are there any fees?
There aren't any monthly fees, but there is a fee to withdraw money before your term is up (called an early withdrawal penalty), so make sure you have a good handle on your budgeting before locking in a CD!
is there a required opening deposit?
$500 is all it takes to open a new Regular CD and $50,000 is required to open a new Jumbo CD.
can you add money to a cd account?
Once you open your new CD account, you cannot add money until your term is up.
are cds insured by ncua?
Absolutely! Your deposits are insured up to $500,000 through the National Credit Union Administration (NCUA) and Excess Share Insurance Corporation (ESI)… at no additional cost to you!
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