4.75% APY1 2-Year Relationship CD

Save like never before.

With our limited-time CD, you'll enjoy the perks of both a short- and long-term CD with access to your cash and high interest-earning power.  Withdraw ANY amount once every 90 days, penalty-free, or add additional funds anytime1 while earning big returns.
 

Account Opening Details

  • Only $1,000 minimum to open
  • Must meet relationship requirements

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More than just your average CD.

4.75% APY1

The greater the rate, the greater the returns. Earn more than 3X the national average rate for a 24-month CD.2

Unlimited Deposits

Other banks lock you out. At BayFirst you can add funds to your CD anytime.

Penalty-Free Withdrawals

Withdraw ANY amount once every 90 days, penalty-free.

Open now

Save for tomorrow with today's great rate.

Account Details

  • Only $1,000 minimum to open
  • ​4.75% variable rate APY1
  • One penalty-free withdrawal every 90 days
  • Unlimited deposits
  • Interest compounded daily, paid monthly
  • IRA CDs available

Relationship Requirements

  • Must have an active BayFirst Checking account
  • Active accounts require: 
    • Five debit card transactions per month
    • Direct deposit

Watch Your Savings Grow

  • Access your account with online banking
  • Track your account growth with our BayFirst Mobile Banking App
  • Receive free monthly eStatements

The BayFirst Difference

Access to your funds.

With one penalty-free withdrawal allowed every 90 days, our variable-rate CD offers more flexibility than most other banks.
 

 Cash in on nationally competitive rates.

It pays to bank with us. Step up your returns and watch your balances grow with some of the nation's best rates.
 

Make additional deposits.

Add to your funds at anytime and maximize your interest-earning power.

What's next? Open securely in minutes.

  • Gather Your Information

    We'll need some basic information including your government-issued ID and a little more to get started.

  • Open Your Account

    Open your account online or in person in under 10 minutes.

  • Fund your CD

    Fund your CD by transferring funds from another bank safely.

    Open Now

Why BayFirst?

At BayFirst, we're Here for What's Next, and that includes setting you up with a smart savings strategy today, to ensure the best tomorrow possible. With our variable-rate CD you’ll enjoy one of the highest CD interest rates in the nation and the opportunity to cash in on big returns. Come see what our limited-time offer CD can do for you.

Still have questions?

Certificates of Deposit FAQs

When you open a Certificate of Deposit (CD), you deposit a lump sum of money for a fixed term, ranging from a few months to several years. In return, the bank pays you an agreed-upon interest rate. At the end of the term (maturity), you can withdraw your initial deposit plus the interest earned, or you can roll it all over into a new CD.

A fixed-rate CD offers a set interest rate for the entire term of the CD, providing predictable returns. A variable-rate CD has an interest rate that can fluctuate over time based on market conditions or a specific index. This means the returns on a variable rate CD can increase or decrease during the term, potentially offering higher returns but with more risk compared to a fixed-rate CD.

A Certificate of Deposit (CD) typically offers a higher interest rate than a savings account in exchange for requiring your money to be deposited for a fixed term. Savings accounts offer more flexibility, allowing you to withdraw or deposit funds at any time, but usually at a lower interest rate.

Yes, CDs at BayFirst are insured by The Federal Deposit Insurance Corporation (FDIC) up to $250,000, making them a secure investment option.

Our variable-rate CD allows for unlimited deposits, and once every 90 days you can withdraw any amount, penalty-free. If you exceed the specified number of penalty-free withdrawals, you could incur a penalty. Be sure to review all product details and/or talk to a banker about your options. 

When your CD matures, you have the option to withdraw your funds (initial deposit plus interest) or roll them over into a new CD. BayFirst will notify you before your CD matures to discuss your options.


1 The Annual Percentage Yield (APY) of 4.75% is effective and accurate as of 9/20/2024. Rates subject to change quarterly after the account is opened and are based on the Prime Rate (Wall Street Journal as of 09/20/24 is 8.0%) minus 3.25%. Minimum balance to open account is $1,000. You have the ability to withdraw any amount of your funds once every quarter without penalty. Fees could reduce earnings. Must have an active BayFirst checking account with direct deposit and a minimum of 5 debit card transactions monthly to open. Advertised Annual Percentage Yield (APY) may change after maturity, applies to personal accounts only, and are accurate as of 09/20/2024. A penalty may be charged for early withdrawal. Fees could reduce earnings.

2 Based on comparison to the national average Annual Percentage Yield (APY) on 24-month CD rates as published in the FDIC National Rates and Rate Caps, accurate as of September 16, 2024.

BayFirst National Bank is a member of the Federal Deposit Insurance Corporation (FDIC). As a BayFirst customer, your BayFirst deposits are insured by the FDIC up to $250,000 per depositor, for each account ownership category.