CD Valet is a unique, easy-to-use and readily accessible online marketplace where you can find, compare and open Certificates of Deposit (CDs) with the best rates and terms from financial institutions nationwide. A Certificate of Deposit (CD) is a type of savings account that pays interest on a fixed amount held for a fixed period — six months, eighteen months, one year and five years.
Unlike other CD marketplaces or rate comparison sites, CD Valet provides the most comprehensive, competitive and unbiased rates, enabling you to get the best deal or interest earnings on your deposit. With an array of tools and features like daily CD rate updates, watchlists and earning calculators, the platform more than equips you to find the best CD rates to meet your savings goals.
CDs are considered one of the safest saving options for meeting specific goals like a down payment on a house, tuition, a new car or as an emergency fund that earns a guaranteed return. With CDs, you only make one initial deposit, which stays in the account until its maturity. Unlike other savings alternatives, such as regular and high-yield savings accounts and money markets, you cannot vary your CD balance by making additional deposits and withdrawals. However, it offers a significantly higher and more competitive rate than these options, including high-yield savings accounts.
- Access to competitive CD rates from various financial institutions nationwide
- Clear and straightforward information about rates and terms
- Highly customizable; you can view offerings by location and filter by institution
- Intuitive website and mobile app to compare CDs without visiting multiple banks
- Features watchlists, earning and break-fee calculators, rate and maturity date alerts
- Access to customer support for account inquiries and transactions.
- Comparing multiple CD options from various institutions might be overwhelming
- Potential complexities in tracking maturity dates and interest payments
- Only available in the U.S.
CD Valet Ratings at a Glance
CD Valet is a consumer-focused CD marketplace owned by Seattle Bancshares, Inc., a
privately held bank holding company for Seattle Bank and its affiliates. CD Valet aims to provide an objective view of the CD market and facilitate informed investment decision-making by helping investors discover the most relevant local and national rates and uncover better returns.
Seattle Bank is a Federal Deposit Insurance Corporation (FDIC) member, meaning that savings deposits (including CDs) made at the bank are insured up to the legal limit, typically $250,000 per depositor per insured bank, for each account ownership category. The institution is ranked among the top 10 percent of banks nationally for returns on assets and efficiency. For clarity, CD Valet is not a federally insured depository institution; instead, the financial institutions listed on its marketplace are either FDIC-insured (for banks) or NCUA-insured (for credit unions).
How Does CD Valet Work?
The interest rate and term are the two most vital factors when opening a CD. Both are set by the financial institutions — banks or credit unions where you open the account. Most institutions offer fixed CD rates, so you’ll know your exact earnings at the end of the term. However, this could hurt if the interest rate rises once you’re locked in. In contrast, variable-rate CDs may offer better earnings in a rising interest environment but are less predictable. The term is the duration you agreed to keep your funds locked in.
An early-withdrawal penalty may apply if you withdraw your money before the maturity date at the term-end. So, what you get out of a CD depends mainly on your choice of financial institution. The more options you have, the better you can compare and make informed choices. But here’s the thing: most CD marketplaces won’t show you all the available options, especially rates from local or community banks and credit unions, which often provide better interest earnings.
Typically, more established financial institutions with robust advertising resources dominate these marketplaces, thereby skewing the overall perception of the market. Without a clearer picture of all the available rate options, it becomes easier to believe you’re getting the best deal, even when that’s not the case. CD Valet grants you access to the best CD rates offered by local and national financial institutions — without the bias of an exclusively “pay to play” approach. It is your one-stop for CD investing and boasts the following features:
Comprehensive Rate Comparison
CD Valet delivers the most relevant, unbiased, daily updated CD rates from nearly 500 banks and credit unions nationwide. The Standard term ranges from one to five years. However, you can also access promotional CDs from the “Promos” section with terms as low as three months. This section spotlights exceptional CDs with unique maturities, rate-adjustment options and add-on capabilities. CD Valet provides a user-friendly search customization. You can view top offerings in your local area and filter your options by financial institutions, such as banks, credit unions, or both.
This allows you to access fantastic rate offerings and invest in the community where you work and live, potentially enhancing development and contributing to your local economy. Furthermore, you can view and bookmark special offers and promo rates currently offered by financial institutions in your market and take advantage of the best deals available.
The Standard section comprises CDs already sorted for you from the highest to lowest rates. Still, you can filter by state, bank name, minimum APY, and investment amount. The Promo section also includes filtering by term (in months). In addition to the comprehensive CD offering and customizable rate comparison features, investors receive top rates and CD insights straight to their inboxes. Undoubtedly, CD Valet makes for an exciting and hassle-free CD shopping experience.
CD Portfolio Management
CD Valet provides robust portfolio management tools, enabling you to track your CD investments across diverse financial institutions in one convenient dashboard. You can seamlessly view your earnings, rates, terms and maturities of current holdings and receive alerts for them.
The rate and maturity date alert system automatically notifies you about rate changes, CD maturity dates, etc. You can browse CDs and market rates, bookmark them to your watchlist, and monitor them to find the best time to invest and maximize your profit. If you find a better market rate, you can add it to your list, and if it meets the requisite approval, it’ll be shared under Promos.
Earnings and Break-Fee Calculator
CD Valet’s calculator tools make for an even more fantastic user experience. For instance, with the earnings calculator, you can quickly determine your earnings for a given APY and CD term. Knowing your estimated return helps you plan your finances, set realistic goals, and make informed investment decisions. Investing in a CD means locking in your money until the maturity date.
However, some eventualities necessitate you withdrawing the money before maturity or you may decide to break your existing CD and reinvest in a new CD for a higher return. While some institutions do not charge penalty fees, most do. CD Valet’s break-fee calculator allows you to calculate the early withdrawal cost.
CD Valet charges investors zero fees for its services. You do not have to pay any commission, setup or account maintenance fees. The service is entirely free. The platform gets compensated by partner financial institutions that have an “Open Now” or affiliate link on CD Valet. This encompasses all the institutions on the Featured CD list. For each bank or credit union on this list, you can open a CD account directly by clicking “Open Now” and filling in basic information. You won’t have to leave the platform or get redirected to the bank's official website.
The bank or credit union sets the minimum entry barrier, interest rate and terms. However, the most common minimum across the board is $500. This may also vary for each institution depending on the rate and terms of the CD. CD Valet’s zero-fee services make it a compelling choice for experienced and beginner investors looking for a feature-rich and innovative CD marketplace or rate comparison website.
CD Valet offers customer service via Phone (833-647-1374) and Email: support@cdvalet.com. You can contact the team via these channels to seek assistance with account inquiries and learn more about its solutions for financial institutions. You can also connect with the team by filling out the contact form on the Contact page of its website or via its professional social network pages, including LinkedIn, Facebook, Instagram and Twitter, where the platform maintains an active presence.
CD Valet also provides comprehensive educational and learning resources through its Blog. The blog boasts well-crafted articles divided into multiple categories: financial wellness, CD 101 (for beginners), news, industry updates, banks and saver insights. Moreover, you can get firsthand information about CDs on the company’s FAQ page. While it has no customer reviews on independent websites like Trustpilot, the platform’s multiple support channels signify its commitment to providing incredible and easily accessible support services.
Seattle Bancshares, Inc., the bank holding company of Seattle Bank, owns CD Valet. This means that the privacy policy of Seattle Bank applies to all businesses conducted via CD Valet. The platform implements robust security measures for funds and user privacy protections. This includes state-of-the-art encryption protocols to prevent unauthorized access to clients’ personally identifiable information (PII) and other sensitive data in transit or at rest on its network. The platform will not share or sell your data to a third party except in compliance with judicial oversight. You can review CD Valet's security and privacy policies to better understand how they secure your investment and data.
CD Valet provides a unique service that benefits both savers across the U.S. and the financial institutions where they deposit their money. For savers, the platform offers a clear and unbiased view of CD rates from local and national banks, unlike the usual ad-driven ‘pay-to-play’ CD marketplace. It helps you access top-rate CDs from these institutions with features like daily updates, watchlists and promos, enabling you to get a better deal. You can seamlessly open a CD account through the marketplace by clicking “Open Now” to either launch a digital account opening or provide contact information to the financial institution.
Financial institutions can use it to attract retail deposits from targeted local and national CD marketplaces. Within this marketplace, banks and credit unions can market their rates, acquire leads, and open new accounts via an integrated, end-to-end account opening solution that connects seamlessly with their core platform.
This ready-to-use solution for digital account opening is quick to launch and handles compliance and risk management needs, providing a modern customer experience adaptable to innovations. Moreover, CD Valet offers a detailed data reporting package with insights on financial institutions, consumers, and the CD market to help with pricing, marketing, and management decisions.
CD Valet provides an excellent user experience. The website is clean and well laid out, with vital features in the right positions to streamline navigation. The mobile app is also clean, sleek and user-friendly. Its features essentially mirror those of the website but in a more efficient and mobile-adaptable fashion that makes navigation a breeze. If you prioritize seamless on-the-go access for your CD investment, you’ll most likely prefer the app. It is available on the Apple Store and Google Play for Android and iOS devices.
Whatever your choice, you’re guaranteed to enjoy your investing experience. This is unsurprising because the website was created by Apexon, a technology services firm focusing on user-friendly digital experiences. Apexon has deep expertise in the financial services and fintech industries. The homepage is like the market center, where you can easily view and compare CDs from all the banks on the CD Valet marketplace. The ‘Featured CDs’ are the ones you can open directly within the platform without being redirected to the bank.
To open a CD account, click “Open Now” on the right side of your preferred CD options and follow the prompts to submit your information or complete the digital account opening. To create a CD Valet account, click “Login” at the top of the homepage. Creating an account takes under a minute and requires zero documentation. Features like watchlists, daily rate updates, and alerts further complement the platform’s user experience. Benzinga highly recommends CD Valet.
CD Valet vs. Competitors
CD Valet has a few competitors, such as Raisin and Bankrate.com. Raisin is a marketplace for savings accounts from FDIC-insured banks and NCUA-insured credit unions, most of which offer top-of-the-market interest rates. Like CD Valet, Raisin provides an easy way to open and manage CD accounts while spreading your money across institutions with FDIC and NCUA insurance. This includes the account dashboard and monitoring for both standard and no-penalty CDs from its partner banks and credit unions. Unlike CD Valet, Raisin also grants you access to high-yield savings and money market accounts, making it a more comprehensive saving marketplace.
However, if your core interest is CDs, CD Valet offers you the best choice. It is a more comprehensive CD marketplace when you factor in its extensive CDs from hundreds of financial institutions. In addition, features like earning calculators, daily rate updates, watchlists, rate and maturity date alerts, and break-fee calculators make CD Valet outstanding. Bankrate.com also offers some great tools and resources, including rates, earnings calculator, CD ladder calculator, comparison tools, bank reviews, and news on certificates of deposit. However, it doesn’t match the tools and resources available on the CD Valet marketplace in any way. CD Valet is undoubtedly a superior CD marketplace compared to these competitors.
Certificate of Deposit is an excellent choice whether seeking safe and predictable income streams or looking to finance specific goals. It offers a better rate than other savings deposits, including most high-yield deposits and money market accounts. To maximize your interest earnings via CD, you must open a CD account with a bank or credit union offering the best CD rates and terms. CD Valet provides access to hundreds of options, facilitating seamless rate comparisons and helping you make informed choices. The platform also offers various extra features and benefits, making it an excellent platform for savers.
Frequently Asked Questions
How does CD Valet make money?
CD Valet makes money in two ways. Firstly, they earn a commission when you click on or open CD accounts with institutions under the Featured CD list. Secondly, they get compensated by banks and credit unions that use their digital account opening and lead generation services.
Is it safe to buy a CD online?
Yes, buying CDs online from reputable financial institutions is generally safe.