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Limelight Bank CD review

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Invest in solar initiatives while earning up to 0.85% APY.

Limelight Bank is an online-only division of Capital Community Bank. It uses a portion of the money you invest in a CD to support environmental causes such as solar energy initiatives. The bank offers highly competitive rates with a six-month CD earning 0.55% APY and a 36-month earning 0.85% APY.

0.7%

1-year APY

0.85%

3-year APY

Details

Minimum deposit to open$1,000
Interest compoundingDaily
6-month APY0.55%
1-year APY0.7%
18-month APY0.75%
3-year APY0.85%
Early withdrawal penalty90 days interest for terms of 6 to 18 months
180 days interest for terms of 36 + months

Expert review

Heather Petty

Review by


Heather Petty is a writer at Finder specializing in banking, investments and insurance. She's a self-proclaimed word nerd who worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. Heather earned a bachelor’s degree in English from the University of Nevada, Reno.

Expert review

Limelight Bank CDs are best for those looking to give back to the community. With Limelight you’ll get high yields and the opportunity to invest in green initiatives.

You’ll earn 0.55% APY on a six-month CD and 0.7% APY on a 12- or 18-month CD. But you only have four terms to choose from.

How do I open a Limelight Bank CD account?

Open a Limelight CD in five steps:

  1. Go to the provider’s site and follow the steps to apply.
  2. Click Open an account from the Limelight Bank home page.
  3. Click Let’s get started and select the CD term account. Click Continue.
  4. Enter your personal information and click Continue.
  5. Determine how you want to fund your account and fill in your bank information. Click Continue.
  6. Review your application and click Submit.

Eligibility

You must meet the following eligibility requirements to apply for a Limelight account:

  • At least 18 years old
  • US citizen or resident
  • Valid government-issued ID
  • $1,000 minimum deposit

Required information

Have the following information ready before you apply:

  • Social Security number
  • Home address
  • Government-issued ID number
  • Your current bank’s routing and account numbers for an electronic funds transfer (EFT)

Funding options

When you’re ready to fund your account, you’ll have the following options:

  • EFT
  • Mail in a check
  • Wire transfer

Benefits of a Limelight Bank CD

In addition to no monthly fees, you can look forward to the following benefits:

  • Eco-friendly initiatives. Limelight invests heavily in solar energy providers and projects, so the money you invest in savings is used to promote green energy.
  • High rates for short-term investors. Where many online banks offer lower rates on their short-term CDs, Limelight offers 0.55%, which is one of the higher rates offered.

What to watch out for

Keep the following drawbacks in mind before you apply:

  • Limited term options. With only four account options, you don’t have many terms to choose from.
  • Limited customer service hours. Limelight doesn’t offer 24/7 support. Instead, their customer service is open weekdays from 8:30 a.m. to 5 p.m. MST.

If you want more term options, keep looking to compare your options.

Compare with other CDs

Name Product 1-year APY 18-month APY 2-year APY 3-year APY 5-year APY
CIT Bank Term CDs
0.3%
0.3%
0.4%
0.4%
0.5%
Radius Bank CDs
0.5%
0.5%
0.5%
0.5%
0.5%
BBVA CD
0.1%
0.1%
0.1%
Discover CDs
0.5%
0.5%
0.5%
0.55%
0.6%
Discover IRA CDs
0.5%
0.5%
0.5%
0.55%
0.6%
Barclays Online CDs
0.3%
0.3%
0.3%
0.3%
0.3%
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Compare up to 4 providers

How do I cash in a CD?

You have a 10-day, penalty-free grace period from the maturity date to decide what you want to do with your funds. You have the following options:

  • Do nothing. If you let the grace period pass without taking any action, your original deposit and all of the accrued interest will rollover into a new CD with the same term as your original account, but with an updated interest rate.
  • Make a partial withdrawal. You can withdraw some of the funds from your account, and, as long as you keep a $1,000 minimum deposit, the remaining funds will rollover into a new CD.
  • Close the account. Withdraw all of the funds before the end of the grace period to close your account without a penalty.

Frequently asked questions

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