Reviewed by jp2 | July 1, 2022 |
not really an onllne bank. compare this interface that gives you no information with that of any other bank (I cannot even confirm the rate). cannot switch in and out of cds or np cds. just not an online bank. maybe some form of correspondent bank, but not online bank.
| Online Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Premier Savings
|
4.45% | $50,000 | - |
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|
| High Yield Savings
|
4.40% | $1 | - |
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|
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 1 Month CD
|
1.00% | $5,000 | - |
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|
| 2 Month CD
|
0.75% | $5,000 | - |
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|
| 3 Month CD
|
3.50% | $5,000 | - |
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|
| 6 Month CD
|
4.40% | $5,000 | - |
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|
| 11 Month No Penalty CD
|
3.50% | $5,000 | - |
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|
| 12 Month CD
|
4.50% | $5,000 | - |
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|
| 18 Month CD
|
4.05% | $5,000 | - |
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|
| 24 Month CD
|
4.00% | $5,000 | - |
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|
| 36 Month CD
|
3.95% | $5,000 | - |
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|
| 60 Month CD
|
3.80% | $5,000 | - |
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|
Colorado Federal Savings Bank has raised its CD rates so that it is now offering extremely competitive rates on 1-year CDs, 3-year CDs and 5-Year CDs. Those who follow the space will note that Colorado Federal Savings had been competitive previously. Their early withdrawal penalties are attractive (3 months' interest on a 1-year CD and 6 months' on terms longer than 1 year) and well displayed on their site.
Colorado Federal Savings Bank raised their CD rates to some of the highest available online rates last month, but has now lowered them. They are still competitive, but not as attractive as they were recently. Their 1-year CD now yields 2.80% APY and has a 3-month early withdrawal penalty.
Colorado Federal Savings Bank has begun offering an 11-Month No Penalty CD at 2.35%. BestCashCow has recommended that investors look at No Penalty CDs as an effective way to lock in current interests rates for the remainder of 2019 and much of 2020 without losing liquidity. Ally, Marcus and Purepoint have attractive offerings in this space, and Colorado is now a 4th interesting offer. The rate, however, is lower than Purepoint's and the term is 2 months shorter than Marcus's.
Colorado Federal Savings Bank had a top yielding 12-month CD but they have lowered their rate today to 5.30% APY.
Colorado Federal Savings Bank is encouraged to provide us with this information. When we receive this information from the online bank, we will provide it here.
Customer Reviews for Colorado Federal Savings Bank (18)
jp2
July 1, 2022 |
not really an onllne bank. compare this interface that gives you no information with that of any other bank (I cannot even confirm the rate). cannot switch in and out of cds or np cds. just not an online bank. maybe some form of correspondent bank, but not online bank.
Is this review helpful? Yes:2 / No: 1
even steven 11
March 15, 2022 | | Replies 1
I like the No Penalty CDs at this bank. They are easy to work with and friendly! One hassle is that you need to keep the funding account open and as rates go up, they are more difficult to get in and out of than maybe Ally. But, with the rate above anything else available, it is still 5 stars.
Is this review helpful? Yes:0 / No: 0
kay5 | May 17, 2022
"one hassle" is right, baby. The No Penalty CDs here don't work at all in a rising rate environment vs. ALLY and MARCUS where it takes 2 seconds to get the higher rate on their website without transferring the money anywhere.
6Willy
March 7, 2022 |
Very pleased with the 0.82 No Penalty CD. I cannot get that anywhere on this list!
Is this review helpful? Yes:0 / No: 0
CD Matured
December 10, 2019 |
My CD matured and they sent the money back. I am not getting a new CD now since rates are too low. I just wanted to say that the people were absolutely wonderful to deal with.
Is this review helpful? Yes:0 / No: 0
Good luck
November 21, 2017 |
Good luck getting your money back if you mistakenly opened a 1 year CD here a year ago when their rates were at the top.
Is this review helpful? Yes:5 / No: 1
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