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BBVA CD rates
This CD offers competitive interest rates on a range of term options.
finder.com’s rating: 2.5 / 5.0
★★★★★
A certificate of deposit can be a good way to safely grow your money. It’ll deliver a better interest rate than a savings account, as long as you’re willing to lock up your funds for a period of time. While BBVA requires a minimum deposit to open a CD, it offers industry-beating interest rates.
0.8%
1-year APY
0.8%
3-year APY
Details
| Star rate | 2.5 |
|---|---|
| 11-month APY | 0.8% |
| 1-year APY | 0.8% |
| 18-month APY | 0.8% |
| 3-year APY | 0.8% |
| Early withdrawal penalty | 1% for terms of 1 to 12 months + a $25 fee 3% for terms of 13 + months + a $25 fee |
| Minimum deposit to open | $500 |
| Interest compounding | Daily |
Review by
Peter Carleton
peter.carleton@findercrew.comPeter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.
Expert review
BBVA’s CDs are best for those looking for a range of CDs with competitive rates. BBVA also offers promotional rates from time to time.
Although the interest rates are competitive, you might find better rates at other banks, especially if you want to open your account at a branch.
How do I open a BBVA CD account?
- Go to the provider’s site and follow the steps to apply.
- From the BBVA website and choose Savings in the top navigation bar.
- Select Certificates of Deposit (CDs) in the top navigation bar.
- Here, you’ll find options for 12-, 18- and 36-month CDs. If any of these options meet your needs, hit the Apply Now link under the term length you want.
- If you’re already a BBVA customer, sign in with your username and password. If not, complete the application with details like your name, contact information, Social Security number and ID number.
- Fund your CD with at least $500, then review your application and submit it.
Eligibility
In order to open a BBVA CD, you’ll need to meet a few eligibility requirements:
- Valid US address
- Social Security number or tax ID number
- At least 18 years old
Required information
When you apply for an account, you’ll be asked for the following information:
- Name, date of birth and address
- Social Security number
- State-issued ID or passport
- Employment information
Funding options
Once you’ve completed your application, you’ll need to fund your account using one of these methods:
- Wire transfer
- ACH transfer
- Send a check via mail
- Transfer from another account
What are the benefits of BBVA CDs?
- No maintenance fees. You won’t pay anything to keep your CD account.
- Easy access. You can check on your CD anytime online, on the mobile app or at a branch.
- Competitive interest rates for 12- month terms. For 12- CDs, you’ll find APYs that are better than what you’ll receive from most other banks.
- Security. BBVA is a stable financial institution that’s also backed by FDIC deposit insurance, so you can be confident that your money is safe.
- Term options. Choose a term length between one and 36 months.
- Wide product selection. BBVA offers a suite of other personal banking products, making it easy to do all your banking in one place.
What to watch out for
- Early withdrawal fees. You’ll pay a chunk of your savings if you withdraw from your CD before its term length expires.
- You may find even better interest rates. While BBVA’s rates for some term lengths are competitive, other banks may offer more enticing interest rates.
- Minimum deposit. BBVA requires a minimum deposit of $500. You’ll find lower minimum deposits elsewhere.
- Lower interest rates at branches. If you choose to open a CD at a branch instead of online, you may get a lower interest rate.
- Short-term lengths. BBVA’s longest term length is 36 months, whereas many other banks offer 48- and 60-month CDs or longer.
If you’re looking for a CD with a higher APY, you’ll want to keep looking. As always, compare your options when choosing a CD.
How do I cash in my CD?
Once your CD reaches maturity, you’ll have the option to renew automatically unless you choose to withdraw your funds — which you can do by contacting BBVA and a requesting a withdrawal.
Early withdrawal penalties
Be careful about withdrawing money before your CD’s term length is up. Here are the early withdrawal fees you’ll pay:
- CD with terms of 12 months or less: + a $25 fee plus 1% of amount withdrawn.
- CD with terms greater than 12 months: + a $25 fee plus 3% of amount withdrawn.
How can I get in touch with customer service?
Reach BBVA customer service at 800-273-1057 or by sending a message via online banking.
CDs ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We rate CDs and share certificates on a scale ranging from one to five stars based on what matters most to you. We consider two factors equally when rating CDs: minimum deposits and annual percentage yields (APYs) relative to term length. If a bank requires a different minimum opening deposit depending on the chosen term, we rate the CD based on the average minimum deposit across all terms. And although some institutions offer CDs with terms ranging from one week to 20 years, we only consider term lengths the FDIC uses in its monthly updates on national rates.
Read the full methodology of how we rate CDs.