
Colorado Federal Savings Bank was founded in 1990 and headquartered in Greenwood Village, Colorado. They were originally chartered as a savings institution, however they were acquired in 2008 by new ownership and expanded their product line to include real estate lending solutions for commercial clients. That said, they still maintain a heavy focus on consumer deposit accounts.
Colorado Federal Savings Bank is a direct banking platform complete with FDIC-insurance but with no physical branches.
In our review below, we will focus on Colorado Federal Savings Bank’s CD rates (certificates of deposit). They offer nine CDs to choose from with terms ranging from just 1 month to 5 years. All of their current yields beat the national average by a considerable margin and even beat many of the best yields from online banks. Continue reading below for current rates and more details.
Colorado Federal Savings Bank CD Rates + Account Details

All of Colorado Federal Savings Bank’s nine CDs come with a minimum deposit of $5,000 to open an account. All deposits are federally insured by the FDIC up to $250,000 per depositor or $500,000 for joint accounts.
CD Rates
Term | APY |
1 month | 1.00% |
2 months | 0.75% |
3 months | 2.55% |
6 months | 4.40% |
11 month No Penalty | 3.10% |
12 months | 5.15% |
18 months | 4.90% |
24 months | 4.35% |
36 months | 3.95% |
60 months | 3.95% |
To put these yields into perspective, the current national average for a 12 month CD and a 60 month CD sit at just 1.54% APY and 1.37% APY, respectively, according to FDIC data.
Compounding Interest
Interest is compounded daily and credited to your account on the last day of each month. You will start earning interest on the night that your application is processed and funded.
Early Withdrawal Penalties
If you need to make a partial or full withdrawal of your CD funds prior to maturity you will encounter a fee.
Early withdrawal fees are as follows:
CD Term | Fee |
1 month | 1 months of interest |
2 months | 1 months of interest |
3 months | 1 months of interest |
6 months | 3 months of interest |
12 months | 3 months of interest |
24 months | 6 months of interest |
36 months | 6 months of interest |
60 months | 6 months of interest |
If you’re opening the 11 month No-Penalty CD, you are allowed to withdraw any or all of your funds without incurring a penalty fee after 7 days of opening the account. Please note that no withdrawals of any kind are allowed during this 7-day period.
Funding Your CD
Funding your CD and receiving your funds upon maturity are pretty straight forward. You may send or request funds via an external bank. This must be initiated from your CFSB online account. There are no fees for ACH transfers.
Other Deposit Accounts Offered
Colorado Federal Savings Bank offers two additional deposit accounts that earn interest. These are:
- High Yield Savings account featuring an APY of 4.00%.
- Premier Savings account featuring an APY of 4.05%.
The high yield savings account comes with a minimum balance of just $1.00 while the premier savings account comes with a much steeper minimum balance requirement of $50,000.
You must also be a new customer to Colorado Federal Savings Bank to open the Premier Savings account. A new customer is defined as someone who has not had a bank account with them in at least 60 days.
Both accounts are FDIC-insured up to the applicable limits. Accessing your funds is only available through ACH transfers. You are allowed up to 6 free ACH transfers per monthly statement cycle. If you exceed this amount, you will be charged $25 per transfer after the sixth.
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