Charles Schwab Bank - Savings, Money Market, and Certificate of Deposit Accounts

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Savings, Money Market, and Certificate of Deposit Accounts

Schwab Bank offers a variety of accounts designed to meet your savings needs. Apply for one today by calling 888-303-0310.

Savings Account
This account offers a variable interest rate and can provide overdraft protection to your checking account. It's a great way to begin a savings plan. Learn more about the new High Yield Investor Savings™ account.

Money Market Deposit Account
A great way to save and still enjoy access to your funds. Features include limited check writing, Visa Check Card, and an initial supply of 10 checks at no additional charge.

Certificate of Deposit Account
Make your savings work harder, on your schedule. With a Schwab Bank CD, you'll lock in an attractive interest rate for the timeframe you select. Available with terms ranging from a short three months to a full five years, this savings option combines choice of term and tier with predictable growth and FDIC insurance.

Savings Accounts At A Glance

	Savings	Money Market Account	Certificates of Deposit
Best if You...	Want to begin saving with no minimum balance.	Want to take advantage of market interest rates and maintain liquidity.	Want to lock in a yield for the term you choose.
Interest Earning	Yes¹	Yes¹	Yes²
Service Charges	None	None	None
Check Access	No	Yes	No
Schwab Bank ATM Fees⁵	No	No	N/A
Refunds for other Bank ATM Fees Assessed⁵	Yes³	Yes⁴	N/A
Funds Transfer Services	Yes	Yes	No
Other Features	Direct Deposit	Direct Deposit	Various terms offered from 3 months to 5 years.
¹ This is a variable rate, interest bearing account and the interest rate and Annual Percentage Yield (APY) may change any time at the Bank's discretion. Interest is compounded daily and will be credited to the account monthly. ² The interest rate and Annual Percentage Yield (APY) will not change for the term of the account. The APY assumes interest remains on deposit until maturity. Certificates of Deposit (CDs) carry an early withdrawal penalty equal to 90 days interest for all terms and balance tiers. ³ Unlimited ATM fee rebates when using the Schwab Bank Check Card at any domestic and international locations on the Plus or Visa ATM networks. ⁴ We do not charge any fees for use of any ATM. If you use a machine that is not a Schwab Bank ATM, you may be charged a fee by the ATM operator or any network used. This may include a fee for a balance inquiry even if you do not complete a withdrawal or other monetary transaction. We offer a rebate on these fees assessed by others: For Money Market Accounts up to first 6 transactions not to exceed $9.00 per statement period. Schwab Bank reserves the right to discontinue or modify the ATM Fee Rebate program at any time. Please see your Schwab Bank Deposit Account Pricing Guide for details. ⁵ Unlimited ATM fee rebates apply to cash withdrawals using the Schwab Bank Visa® Check Card wherever it is accepted. ATM fee rebates do not include fees imposed by merchants for POS transactions; or fees for stamp purchases, balance inquiries, or any transactions other than an ATM cash withdrawal from your Schwab Bank account. Schwab Bank makes its best effort to identify those ATM fees eligible for rebate, based on information it receives from Visa and ATM operators. In the event that you have not received a rebate for a fee that you believe is eligible, please call a Schwab Bank Client Service Specialist for assistance at 1-888-403-9000. Schwab Bank reserves the right to modify or discontinue the ATM fee rebate at any time.