CD accounts or Certificate of Deposit Accounts are fully secured and risk-free offering higher interest rates than traditional savings accounts. CD accounts come with a guaranteed return on them and they are absolutely risk free. There’s usually no fee to open or maintain an account. However, a minimum deposit amount is required to open an account which varies from bank to bank. TIAA Bank CD rates are highest among its peers.
TIAA Bank CD rates
Upto 2.70% APY. TIAA Bank CD Rates include their 2.47% APY 9-Month CD.
What is a CD or Certificate of Deposit?
When you open a CD account and deposit the amount, you get a certificate stating the amount you had deposited and the maturity date.
CDs are different from normal savings account as CD’s require you to deposit a fixed amount of money for a fixed amount of time. You get a set interest rate that will be honored for the duration of that term. After opening a CD account for whatever time period you choose such as 1 years, 2 years or 5 years, you must keep your funds there until maturity to earn interest on your money.
If in case you want to take out the money you have invested in a CD before maturity, you’ll have to bear penalties levied by the bank which could be a deduction few month’s of interest earned or a percentage of your principal amount invested.
Full details about TIAA Bank CD rates from 3 months to 5 years
| Yield Pledge® CD | Minimum Deposit | APY |
| 3 Month | $5,000 | 2.15% |
| 6 Month | $5,000 | 2.45% |
| 9 Month | $5,000 | 2.47% |
| 1 Year | $5,000 | 2.55% |
| 1.5 Year | $5,000 | 2.55% |
| 2 Year | $5,000 | 2.60% |
| 2.5 Year | $5,000 | 2.60% |
| 3 Year | $5,000 | 2.65% |
| 4 Year | $5,000 | 2.65% |
| 5 Year | $5,000 | 2.70% |
Why TIAA Bank CD account is the best when it comes to CD rates?
- Best in class Security
TIAA Bank CDs are literally risk-free because they are insured deposits. TIAA bank is FDIC insured, which means if the bank defaults, the government will pay you back every single penny you in the account which is up to $250,000. - Start with $5000 Minimum deposit
You can open your TIAA bank CD account with a minimum deposit of US $5000 and expect CD rates at 2.55% for a minimum 1 year term. However, you cannot make additional deposits once you have opened an account and made a deposit. Therefore, it is important that you deposit the funds that you want to invest in a single shot. - TIAA Bank CD rates have the highest APY – up to 2.70%
You can expect the highest interest rate possible compared to other CDs offered by various banks.
About TIAA Bank
TIAA Bank (formerly TIAA direct) is an online only bank that consistently offers one of the best CD rates for every term length starting from 3 months to 5 years.
With no physical branches to visit, TIAA has cost advantages and therefore they levy fewer fees than traditional brick-and-mortar banks. TIAA bought EverBank in June, 2017 and with the acquisition they had launched TIAA bank.
According to creditdonkey.com, “they promise the yield of the account will stay in the top 5% of similar accounts offered in the U.S. banking market. The downside? You need a minimum deposit of $5,000, which is higher than some other accounts.”
TIAA Bank CD Rates
As mentioned above, CDs are a certificate issued by a bank to a person depositing money for a fixed term. The longer the term, higher is the APY rate.
You can invest in a TIAA CD account with as little as $5000 to maximize your earnings.
According to hustlermoneyblog.com, “TIAA Bank offers a vast array of products including CD options for all of your specific financial needs. From checking and savings account to loans and CDs, you are bound to find one that works for you.”
Benefits & Features of TIAA Bank CD account
- Guaranteed high yields at CD opening with Yield Pledge promise (CD rates are always among the top 5% of competitive accounts).
- 20-day maturity alert and automatic rollover.
- No monthly account fee.
- IRA eligible.
- $5,000 minimum deposit to open a CD account.
- Fixed deposit terms starting from from 3 months to 5 years.
TIAA Bank CD APY rates & earnings
| TERM | APY1 | EARNINGS |
| 1 year | 2.55% | $1,275 |
| 3 year | 2.65% | $4,088 |
| 5 year | 2.70% | $7,112 |
Types of TIAA Bank CD accounts
TIAA bank CD account options, minimum deposit requirements and range of terms:
| YIELD PLEDGE®CD | BUMP RATE CD | BASIC CD | |
|---|---|---|---|
| Minimum opening deposit | $5,000 | $1,500 | $1,000 |
| Range of terms | yes | yes | |
| Guaranteed high yield | yes | ||
| 1-time rate bump option3 | yes | ||
| IRA eligible | yes | yes | |
Bottom Line
There are several options on the market when it comes to earning best CD rates or CD accounts. We’ve listed the best TIAA bank CD rates to help you make an informed decision before opening a CD account. There are several TIAA bank CD account options to choose from. You should take advantage of a low required minimum balance of just $5,000 and a minimum term of 3 months to earn a good interest on your heard earned money.
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I have 150,000 to invest in a 12 month cd. What would the interest rate be and how is it compounded, daily, monthly, etc. Also, what would my earnings be on the above amount at maturity based on the rate.
Impressive CD rates from TIAA Bank, however, if anyone is investing in a CD they must do some research online to read reviews from real people about different CD rates. Thanks for sharing this blog post.