Bread Savings, formerly Comenity Direct, has some very competitive CD rates on all 5 of their regular term certificates of deposit.
You may remember Comenity Direct as they regularly topped the charts with the highest yields on both fixed rate CDs and their variable rate online savings account. Today, Bread Savings has maintained the competitiveness of these offers.
See their CD rates and account details below.
Bread Savings CD Rates + Account Details
A Bread Savings certificate of deposit requires a minimum deposit of $1,500 and is federally insured by the FDIC up to $250,000 per depositor.
CD Rates
| Term | APY |
| 1 year | 5.35% |
| 2 year | 5.00% |
| 3 year | 4.75% |
| 4 year | 4.50% |
| 5 year | 4.35% |
To put these yields into perspective, the current national average for a 12 month CD and a 60 month CD sit at just 1.72% APY and 1.37% APY, respectively, according to recent FDIC data.
That said, top yields from online banks are now inching over the 5.25% and 4.50% APY mark the same terms.
Bread Savings does not offer any specialty CDs or CDs with durations under 1 year at this time.
They also impose a maximum deposit limit of $1 million per account and $10 million limit per customer.
Compounding Interest
The interest you earn with a Bread Savings CD both accrues and compounds daily. It is then credited and posted back to the account monthly.
Fees
There are no monthly maintenance fees or hidden fees associated with a Bread Savings CD. The only fees you may encounter with your deposit account would be from an outgoing wire transfer or an official check request. Those fees are as follows:
- $25 per outgoing wire transfer
- $15 per official check request
If you’d prefer to get paper statements rather than viewing them online, you will also incur a $5 paper statement fee.
Early Withdrawal Fees
If you need to access your funds prior to the maturity of your CD, you stand to lose a portion of your interest but you will not lose any of your principal. Early withdrawal fees are as follows:
- For terms shorter than 1 year, the penalty is 90 days simple interest.
- For terms 12 months to 3 years, the penalty is 180 days simple interest.
- For terms 4 years and up, the penalty is 365 days simple interest.
Grace Period
Prior to the maturity of your CD, Bread Savings will notify you letting you know the term is almost over. When it is, you will be given a 10 day grace period in which you may withdraw any or all of these funds. If nothing is done within the 10 day window, Bread Savings will automatically renew your CD with the same term and the going APY at that time.
CD Renewals
Similar to Ally Bank, Bread Savings offers loyal customers slightly better APYs (annual percentage yields) for keeping their savings with Bread Savings.
Any customer who has a CD with Bread Savings and lets it automatically renew will receive Bread’s Renewal CD rates. This applies to terms of 1, 2 and 3 years. See renewal rates below.
CD Renewal Rates
| CD Term | APY |
| 1 year | 5.40% |
| 2 year | 5.05% |
| 3 year | 4.80% |
How to Open and Fund a CD
Opening a Bread Savings CD can be done online in minutes. You’ll just need to have a few pieces of personal information readily available to complete the process.
- Your contact information. This includes your physical address, phone number and email address.
- Identity information. This includes your social security number and your driver’s license.
- Current bank or credit union information. You’ll need both the routing number of your current financial institution and your bank account number.
How Much Can You Earn with a Bread Savings CD?
How much you can make with a CD from Bread Savings is going to depend on your deposit size, the term of the CD and the APY (annual percentage yield).
Take a look at the table below to see how much you can earn with various Bread Savings CDs. This assumes a deposit size of $10,000.
| CD Term | APY | Total Earnings |
| 1 year | 5.35% | $535.00 |
| 2 year | 5.00% | $1,025.00 |
| 3 year | 4.75% | $1,493.76 |
| 4 year | 4.50% | $1,925.19 |
| 5 year | 4.35% | $2,372.64 |
How Do Bread Savings CD Rates Compare?
To get a better idea of how Bread Savings CD rates compare to other popular online banks and their CD rates, take a look at the table below.
| Bank | Best CD Rate (APY) |
| American Express Bank | 4.75% |
| Discover Bank | 5.00% |
| Marcus by Goldman Sachs | 5.00% |
| Synchrony Bank | 5.10% |
| Bread Savings | 5.35% |
Bread Savings CD FAQs
Still have questions about Bread Savings and their CD rates? Take a look at what other consumers are asking around the web along with our responses below.
Does Bread Savings have Bank Locations?
No. Bread Savings is an online bank with no physical branches.
How Do You Reach Bread Savings Customer Service?
You can reach a Bread Savings customer service representative by calling them at 1-833-755-4354 between 7am and 9pm CT on weekdays and between 9am and 5pm on weekends and most holidays.
How to Login to Bread Savings?
To login to Bread Savings you can go here and enter your username.
What is Bread Savings Routing Number?
Bread Savings routing number is 124085325.
Does Bread Savings Offer a Money Market Account?
No. At this time Bread Savings does not offer a money market account.
Does Bread Savings Offer an Online Savings Account?
Yes. And it is currently providing an extremely competitive APY (annual percentage yield) of 5.00% with a minimum opening deposit requirement of just $100.00.
To put that in perspective, the average rate for an online savings account sits at just 0.42% according to the FDIC and top yields from online banks are hovering around 5.00% APY with this online savings account from Bread Savings being among the rate leaders.