Santander Bank CD Rates: June 2025

By

澳洲幸运5开奖号码历史查询:The Investopedia Team

Updated June 05, 2025

Financial advisor meeting with client about CD rates — SDI Productions / Getty Images

Santander Bank CD rates, as high as 3.00% for a 6-month business CD, are better than you may find at many other banks. Still, you may be able to get a better rate from the 澳洲幸运5开奖号码历史查询:CDs with the highest yields currently available.

Important

Santander Bank is only availꦕable i꧟n specific regions, and the APYs listed below use NYC zip code 10001.

Santander Bank Personal CD

Santander Bank CD Rates
CD Term	APY	Minimum Deposit
6 months	3.00%	$500
13 months	3.85%	$500
17 months	3.50%	$500

Santander Bank Business CD

Santander Bank Business CD Rates
CD Term	APY	Minimum Deposit
3 months	3.25%	$500
6 months	4.00%	$500
9 months	2.00%	$500
12 months	3.50%	$500
15 months	0.25%	$500
24 months	0.25%	$500

Compare Santander Bank CD Rates

The rates on certain Santander Bank CD terms are fairly competitive, but you may be able to find higher yields by shopping around. Explore some of the CD rates below and see how they compare to Santander Bank's rates.

Santander CD Account: Key Features

Santander CD Account Key Features
APY Range	3.00%-3.85% (Personal) 0.25%–4.00% (Business)
Minimum Deposit	$500
Term Range	3 months to 60 months
Early Withdrawal Penalty	Terms of 1 year or less: 3 months' interest on the amount withdrawn Terms of 13 months – 48 months: 6 months' interest on the amount withdrawn Terms of 60 months: 12 months’ interest on the amount withdrawn
Grace Period for Penalty-Free Withdrawals After Maturity	7 days

To open a CD, you’ll need to make an appointment at a Santander branch located in either the Nಞortheast U.S. or Miami, Florida. These products are not offered online.

Pros and Cons of Santander Bank CDs

Pros

澳洲幸运5开奖号码历史查询:Competitive rates
澳洲幸运5开奖号码历史查询:Flexibility with terms
澳洲幸运5开奖号码历史查询:Low minimum deposit

Cons

澳洲幸运5开奖号码历史查询:Possibly better rates elsewhere
澳洲幸运5开奖号码历史查询:Limited availability

Pros Explained

Competitive rates: Santander Bank offers CDs with rates that are higher than what you can find on many other CDs. You cannot get one online.
Flexibility with terms: You can find different term lengths for both personal and business CDs, which can meet various needs.
Low minimum deposit: Santander Bank's CD's have a low minimum deposit requirement of $500.

Cons Explained

Possibly better rates elsewhere: You can earn a decent interest rate with Santander Bank's CDs, but by shopping around you may be able to secure even higher returns with other CDs or financial products.
Limited availability: You must visit a branch in person to get a CD with Santander Bank, and its branch network is limited.

About Santander Bank: Other Options

Santander Bank serves millions of customers globally, butဣ the bank only entered the U.S. in 2010 with its acquisition of Sovereign Bank. Despite this, Santander offers a full suite of banking products, including loans, credit cards, and certificates of deposit (CDs) for both consumers and small businesses.

It may not have locations scattered around the country, but many of its banking products are a🦩vailable no matter where you live. However, it appears that nationwi🎐de access is limited to wealth management, corporate banking, and auto finance rather than consumer banking. This means that CDs are only available to those who have local Santander banks rather than throughout the country.

In terms of customer satisfaction, Santander Bank is underwhelming. In the 2023 J.D. Power Retail Banking Satisfaction survey, Santander ranked 11th out of 17 banks rated in the New York tri-state area.

Alternatives to Santander Bank CDs

Credit unions: Credit unions are not-for-profit financial institutions that require you to become a member. But they may offer higher rates than local banks. See the 澳洲幸运5开奖号码历史查询:best savings account rates available today, many of which are provided by credit unions.
Online banks: Online banks may offer easier-to-meet deposit requirements to earn higher interest rates. Take a look at the 澳洲幸运5开奖号码历史查询:best banks for savings accounts for more information.
Investment brokerages: You could potentially earn more money by 澳洲幸运5开奖号码历史查询:investing with a brokerage, but you’ll also have a higher potential for losses as well.
U.S. Treasuries: You may be able to earn more than savings accounts offer with a 澳洲幸运5开奖号码历史查询:Treasury bill or bond, but without as much risk as some other investments.
Certificates of deposit (CDs): If you have a stash of cash you won’t be touching for a while, these timed deposit accounts offered by most banks and credit unions offer a very high potential for return without investing your money. The 澳洲幸运5开奖号码历史查询:best CD rates today are similar to the top savings account rates.

Frequently Asked Questions (FAQs)

Are Santander CD Accounts Available in All States?

Santander’s website notes that it provides banking services nationwide, but limits those to auto finance, corporate banking, and 澳洲幸运5开奖号码历史查询:wealth management. It𒉰 doesn’t offer⭕ CD accounts outside the Northeast U.S. or Miami, Florida.

Is Santander FDIC-Insured?

Yes, Santander is 澳洲幸运5开奖号码历史查询:FDIC-insured. This means if you choose to open a CD with Santander, it’ll receive federal protecti♍on up to $250,000 if something goes awrౠy.

Is There an Early Withdrawal Penalty for Santander CD Accounts?

Yes, there is an 澳洲幸运5开奖号码历史查询:early withdrawal penalty for an♔y Santande🌠r CD account that you open. Penalties vary based on the length of your CD:

Terms of 1 year or less: 3 months' interest on the amount withdrawn
Terms of 1–5 years: 6 months' interest on the amount withdrawn
Terms of 5+ years: 12 months’ interest on the amount withdrawn

Can You Ladder CDs at Santander Bank?

Yes, you can ladder CDs at Santander. 澳洲幸运5开奖号码历史查询:CD laddering is the practice of opening certificates of deposit with varying maturity dates. The intent is to earn higher interest than y🧜ou would with a savings account while still keeping your money fairly liquid.

Your Guide to CDs

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