A certificate of deposit (CD) is a bank account that earns a fixed interest rate in exchange for locking in your deposit for a specified term. Bask Bank offers CD terms ranging from 6 months to 24 months.

If you’re new to Bask Bank, visit our Bask Certificates of Deposit Products page and click Choose your CD Rate. Select the CD term that works for you and follow the steps to complete your application. 

If you already have an account with us, you can open a new CD account by logging in to Online Banking and clicking Discover Products. Once you’ve chosen the desired CD term, click Open CD. Follow the steps to complete your application.

You must fund your new CD with a single, lump-sum deposit of at least $1,000 within the first 10 business days after opening the account. If your CD is not funded with at least $1,000 within 10 business days, your account will be closed automatically. Once you make the initial deposit, you will not be able to make any additional deposits until the renewal grace period at completion of the CD term.

You can open up to five individually owned and five jointly owned CD accounts per CD term length. The total number of CDs you hold may vary based on banking relationship.  

Funds may only be added to an existing CD account during the 10-calendar day grace period following the CD maturity date. 

Additional CD accounts can be opened at any time. The total number of CDs you hold may vary based on banking relationship.

Whether you want to renew your term, modify your CD, or redeem and close your account — we’ve made it easy to plan ahead and set instructions anytime up until 9:00 p.m. CT on the last calendar day of your 10-day grace period.

• Renew. No action needed. We’ll automatically roll your funds over into a new CD for the same term length at the current rate offered on the maturity date. View our current rates.

• Modify. Add money, withdraw funds, or choose a different term. 

• Redeem. Close your CD and transfer your funds to your designated account. 

To set instructions, log in to Online Banking and select Account Services from the menu, then CD Redemption. 

If instructions aren't set, your CD will automatically renew for a new term of the same length. You’ll earn the accurate rate of interest offered for your CD term at that time. 

To set or view your CD redemption instructions, log in to Online Banking and follow the steps below:

1. From the menu, select Account Services, then CD Redemption.

2. Locate the CD account and click Manage Instructions. 

3. Choose one of the maturity plan options and follow the steps to either Renew, Modify, or Redeem your CD.

4. Review your selections, accept the disclosure, and click Submit.

You'll receive a confirmation pop-up once your instructions have been submitted.

To view your current instructions, follow steps 1–2. Any previously set instructions will be displayed, and you may click Edit Instructions to make changes.  

You may withdraw interest that has been credited to your account during the current term without penalty. You will be subject to an early withdrawal penalty if any portion of your principal balance is withdrawn before the maturity date or outside the 10-calendar day grace period. 

• CDs with terms of 6 months up to and including 1 year are subject to a fee of 90 days of simple interest based on the principal amount withdrawn.
• CDs with terms greater than 12 months are subject to a fee of 180 days of interest based on the principal amount withdrawn. 

If your accrued interest is less than the penalty’s total amount, the difference will be deducted from your principal. For full details concerning Early Withdrawal of CDs, refer to our Terms and Disclosures.