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Radius Bank CDs review

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Earn higher interest with a low minimum deposit.

If you’re looking to increase your interest earnings, but don’t have a lot to invest, Radius Bank lets you buy into a CD term for a year or more with as little as $500. But while 0.5% APY for a 12-month CD is higher than what you’d get from most traditional banks, other online banks often offer better rates.


1-year APY


3-year APY


5-year APY


Minimum deposit to open$500
Interest compoundingVaries
1-year APY0.5%
18-month APY0.5%
2-year APY0.5%
3-year APY0.5%
4-year APY0.5%
5-year APY0.5%
Early withdrawal penalty60 days interest for terms of 3 to 6 months
180 days interest for terms of 7 to 9 months
365 days interest for terms of 10 + 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

Radius Bank is best for anyone looking to invest without a lot of money. Taking advantage of the term-based interest rate, an investor can get the highest interest rate with as little as $500 invested.

But if you’re comfortable using a digital bank like Radius for your investments, other online-only banks have more competitive rates.

Benefits of a Radius Bank CD

In addition to automatic renewals, a Radius CD offers the following benefits:

  • Low investment minimums. With only a $500 deposit, you can invest in a CD with a 12-month or longer term. All CD terms under a year require a $1,000 deposit.
  • Term-based interest rate. Unlike some banks that offer higher rates for larger deposits, Radius Bank CDs give you their highest interest rate with just a $500 deposit, as long as you invest the money for five or more years.
  • Online bank rates. As an online bank, you’ll see higher rates than traditional banks. But Radius Bank’s 0.5% APY on a 36-month term is less competitive than other online bank rates.

What to watch out for

In addition to early withdrawal penalty fees, you’ll want to keep the following in mind before you apply for a CD with Radius Bank.

  • Limited branches. Radius only lets you apply for three CD terms online. With only one branch office in Boston, you’ll have to apply for any other term by mail or through customer service.

If you want an account offering higher rates, you’ll want to keep looking. As always, compare your options when considering a CD.

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
Radius Bank CDs
Discover CDs
Discover IRA CDs
Barclays Online CDs
Ally High Yield CDs

Compare up to 4 providers

How do I open a CD?

You can only apply online for a 1-year, 18-month, or 3-year CD.

  1. From the Radius Bank home page, roll over to the Personal tab and select Apply for an account from the Getting Started section.
  2. Click the Certificates of Deposit tab and select a CD option. Click Apply Now.
  3. Enter your name, email and mobile phone number. Click Continue.
  4. Enter your street address and click Continue.
  5. Enter your birth date, Social Security number and any special promotional code. Create a security phrase and confirm you’re a US citizen or resident. Click Continue.
  6. Select your current bank and then sign in so that you can transfer at least $500 into your new Radius CD. Optionally, you can choose to use your debit card to transfer funds.
  7. Submit your information to open the account.

For all other CD terms, fill in the Personal Account Application form and mail it in or call customer service.


You must meet the following requirements to apply for a CD:

  • US citizen or resident
  • Valid Social Security number
  • Valid bank account
  • At least 18 years old

Required information

When you’re ready to apply, have the following information on hand:

  • Full name
  • Email
  • Phone number
  • Residential and mailing addresses
  • Date of birth
  • Social Security number
  • Bank information or debit card to fund the account
  • $500 minimum deposit

Funding options

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

  • Transfer funds from an existing bank account or use a debit card
  • By mail using a certified check or money order
  • Transfer funds from your Radius account

How do I cash in a CD?

When your Radius Bank CD matures, you have a seven-day grace period to withdraw or transfer funds and change the term without paying a fee. If at the end of the grace period you don’t make changes, the money is rolled over into a new CD with the same term.

What other savings products does Radius offer?

The only other savings product at Radius is the High-Yield savings account, which offers up to 0.25% APY on high balances, and still allows you to earn interest on as little as $10 in your account.

Frequently asked questions

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