Rate (APY)
3.90% APY
Term
1 year
Minimum Deposit
$1,000
Promotion
N/A
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Rate (APY):
3.90% APY
Term:
1 year
Promotion:
N/A
Minimum Deposit:
$1,000
TAB Bank provides a reliable 1-year CD option with a 3.90% APY, making it a decent choice for savers. With a minimum deposit of $1,000 and daily compounding interest, it offers a straightforward way to earn interest, although its APY is slightly lower than some of its competitors.
Pros:
- Daily interest compounding
- No maximum deposit limit
Cons:
- Lower APY compared to competitors
- Early withdrawal penalties apply
In summary, TAB Bank's 1-year CD with a 3.90% APY is a solid choice for conservative savers looking for a reliable investment with a manageable minimum deposit. While the rate may not be the highest on the market, its simplicity and daily compounding interest make it suitable for those prioritizing stability over maximum returns.