Ponce Bank logo

48 month high-yield CD

  • {61a52c77c952900001743a56-APY} APY high-yield CD, {61a52c77c952900001743a56-APY}{FDIC-48-M-CD} higher than national average.

  • FDIC insured. No fees.

  • Bank with purpose: your deposit helps us keep investing in underserved communities hard hit by the Covid crisis.

Start saving
Ponce Bank logo

48 month high-yield CD

  • {61a52c77c952900001743a56-APY} APY high-yield CD, {61a52c77c952900001743a56-APY}{FDIC-48-M-CD} higher than national average.

  • FDIC insured. No fees.

  • Bank with purpose: your deposit helps us keep investing in underserved communities hard hit by the Covid crisis.

Start saving

About Ponce Bank

An illustration of a local deli and grocery store

Ponce Bank was born in The Bronx in 1960, a time when most banks had abandoned what was then perceived to be a community in decline but in which our founders saw nothing but the potential of proud neighborhoods anchored by a strong immigrant work ethic and entrepreneurial spirit. They dreamed that all that was needed was a financial fuel. And in the 60 years since, we’ve provided that fuel for this engine of creativity and resilience and we’ve helped develop pockets of this spirit throughout The Bronx, Brooklyn, Queens, Manhattan and New Jersey. We never landed in comfortable places, choosing to help where help was needed most, and during this time we’ve become trusted partners throughout the communities we serve.

Our designation as a Community Development Financial Institution (CDFI) certifies this role as an investor in the future of underserved and underbanked communities.

Ponce Bank. Dreamers Welcome.

cdfi certified

Certified CDFI

Invests in underserved and underbanked communities

community

Minority Depository Institution

Ponce Bank is recognized as a Minority Depository Institution (MDI). It is managed by Latinos and is focused on communities of color and immigrants, and Latinos particularly.

money

Offering Savings and CDs

Ponce Bank offers competitive savings products exclusively through Raisin

Security Is Our Top Priority

FDIC

FDIC logo

Ponce Bank is a member of the FDIC. Deposits in Ponce Bank are insured by the FDIC up to the limits of federal law. The standard insurance amount is $250,000 per depositor, per insured bank, for each deposit account ownership category.

Click to learn more about FDIC insurance

Cybersecurity is a top priority at Raisin

SOC2 logo

We invest in a variety of technologies to protect our customer’s data, privacy and transactions. These include multi-factor authentication, encryption, and web application firewall advanced internet protection technologies. We are a SOC 2 certified organization, which means we have met the requirements outlined by the American Institute of Certified Public Accountants (AICPA) to ensure that we have the controls in place to keep customers' data secure and private.

Click to learn more about SOC 2 certification

Ponce Bank, Powered by Raisin

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Ponce Bank uses the secure Raisin platform to offer savings products to savers nationwide. Customers open accounts at Raisin.com, and the platform manages all aspects of the products offered by Ponce Bank, including a customer's deposits and withdrawals, statements and any customer service needs. In simple terms, Raisin provides you exclusive access to a special selection of Ponce Bank products. Best of all, Raisin is completely free!

What is a No-Penalty CD?

Think of a no-penalty CD as a twist on a traditional certificate of deposit. No-penalty CDs are similar to traditional CDs except for one key difference. The terms of a traditional CD often impose limitations or penalties or even full restrictions on withdrawals before the account reaches maturity. When does a CD reach maturity? At the conclusion of its term length following the purchase date.

Like its name suggests, a no-penalty CD does not impose early withdrawal penalties if you need to tap your savings before the term is complete. No-penalty CDs are also sometimes known as liquid CDs, as they offer considerable liquidity by allowing you access to your deposited funds. While no-penalty CDs typically offer lower rates than fixed-term CDs, they still provide a higher rate than most regular savings accounts.

If you do need to access funds invested in a no-penalty CD before the term is over, don’t expect to make a partial withdrawal, as that’s typically not allowed; you’ll have to extract its full value, closing the account. You also cannot make incremental, top-up deposits after the first purchase; this is true of both fixed-term and no-penalty CDs.

No-Penalty CDs vs. Fixed-Term CDs

No-Penalty CDs
Rates are higher for longer term lengths, and generally exceed what high-yield savings accounts offer

VS

Fixed-Term CDs
Rates are higher for longer term lengths, and typically are more competitive than no-penalty CDs of the similar term length
No-Penalty CDs
Closing the account early is permitted without penalty. Earnings may be affected by early withdrawal. Partial withdrawals of funds are not permitted

VS

Fixed-Term CDs
Closing the account early may not be permitted, or may incur a penalty fee. Partial withdrawals of funds are not permitted
No-Penalty CDs
A one-time deposit opens the account. No deposits permitted thereafter

VS

Fixed-Term CDs
A one-time deposit opens the account. No deposits permitted thereafter
No-Penalty CDs
Rate is fixed for the duration of the account’s term

VS

Fixed-Term CDs
Rate is fixed for the duration of the account’s term

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*APY means Annual Percentage Yield. APY is accurate as of {todayDate}. Interest rate and APY may change after initial deposit. Minimum opening deposit is $1.00.

Raisin is not an FDIC-insured bank or an NCUA-insured credit union, and does not hold any customer funds. Funds deposited through Raisin are exclusively held at federally insured financial institutions. FDIC or NCUA deposit insurance coverage covers the failure of partner banks and credit unions on the Raisin platform.

Customer funds are held in various custodial deposit accounts. Each customer authorizes the Custodial Bank to hold the customer’s funds in such accounts, in a custodial capacity, in order to effectuate the customer’s deposits to and withdrawals from the various bank and credit union products that the customer requests through Raisin.com. The Custodial Bank does not establish the terms of the bank or credit union products and provides no advice to customers about bank or credit union products offered through Raisin.com. Central Bank of Kansas City (CBKC), Member FDIC, d.b.a. Central Payments is the Service Bank. CBKC, Lewis & Clark Bank and Starion Bank, each Member FDIC, are the Custodial Banks.