Virtualbank, A Division Of First Horizon Bank:
Online Certificate of Deposit - 3.77% APY

• Low minimum deposit to open ($10,000).
• Guaranteed returns.
• Multiple term options.
• Automatic renewal at maturity.
• Free Online & Mobile Banking.
• Penalty may be imposed for early withdrawal of CDs.


Fee and Feature Guide

Certificate of Deposit
Interest Rate
APY 3.77%
Term Length 36 Month
Minimum deposit amount $10,000.00
Maximum deposit amount N/A
Balance Requirements
Minimum Opening Deposit $10,000.00
Minimum Balance to Avoid Fees $0.00
Minimum Required Balance $0.00
Minimum To Earn $0.00
Fees
Early withdrawal penalty 2% of principal
Monthly Maintenance Fee N/A
Foreign ATM Fees $2.00
Insufficient Funds Fee $35.00
Incoming Wires $15.00
Statements
Paper Statements ×
Online Statements Yes
Online and Telephone Banking
Online Banking Yes
Telephone Banking Yes
Mobile Banking Yes
Deposit Checks with Mobile Device Yes
Free Bill Pay Yes
Online Bill Payments Required Yes
Account Opening
Open Online Yes
Insured by F.D.I.C.



Recent Rate Changes



Date APY
August 20, 2023 3.77%

Customer Reviews for Virtualbank, a division of First Horizon Bank (15)


  • December 22, 2018 | | Replies 1

    I know VirtualBank has monitored these comments in the past and answered here. This is important because they do not respond to questions submitted through the website. I am trying to find out the penalties if I were to break a 1 year or a 2 year CD early??? Your website makes it impossible to know before I have opened and funded an account??!!!

    Jeff | Dec 26, 2018

    I think it is 1% on 1-year CDs and 2% on anything between 1 and 4 years. Not great, but not the worst I have seen.

  • November 3, 2018 |

    Online CDs 12 Month Rates

    Was reluctant to apply for an account due to the reviews but the rate is good so I gave them a try. It went smooth and account opened with no hassle like some reviewers had. Wasn’t the best, but it was not bad

  • August 20, 2018

    Virtually impossible to deal with. They don't answer requests & cannot access account online. Florida branch extremely rude. Never do they send any info re current balance. Had extreme difficulty in setting up beneficiaries. Would never use this "bank" again . Avoid it @ your own risk. Had to go to Iberia Bank (the owner) to get any information or problem(s) resolved.

  • June 21, 2018 |

    Spartan website, not up to the competition, unpredictably inaccessible. Primitive e-messaging system accepts sent messages, but doesn't retain them. Doesn't matter actually since so far all ignored. CSR's willing, but information often unreliable. No weekend telephone support. Quick ACH, then annoying 3-day hold.

    Uncomfortable, moving on.

  • June 14, 2018 |

    Had to apply three times to open an account. Have done a lot of online banking with little difficulty. The customer service at this bank is terrible. They subcontract to a phone bank to handle new aps!! Finally, got hold of an IT person, who confirmed many complaints. Said to contact him directly, if I needed assistance!
    With the Fed increasing rates, there will be equal or better places to park your funds.


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