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

Help | Contact Us | Log In

Home

Transfers & Payments

Products & Services

Customer Service

Looking for the new High Yield Investor Savings® Account? Learn more

High Yield Savings

Money Market Account

Certificate of Deposit

Minimum Opening Deposit

$1000

Tiers and Terms

Current Tiers

Tiers:
$0 - $2,499
$2,500 - $9,999
$10,000 - $99,999
$100,000 - $499,999
$500,000 - $999,999
$1,000,000 +

Terms available:

Tiers	Terms available
$1,000	3 months	2 years
$5,000	6 months	3 years
$10,000	12 months	4 years
$20,000+	18 months	5 years

Term automatically renews at maturity.

Interest Rates

No minimum balance required to earn interest.

Variable rate¹. Compounded daily and paid monthly to the account

Interest rate based on account balance and term selected.²

Compounded daily and paid monthly to the account

Check, Withdrawal, and Transfer Limits³

No check writing.

Monthly Regulatory Limit of Six Preauthorized Transfers, including:

Telephone transfers
Funds transfers to own account or third parties
Overdraft protection transfers
Up to three of the six transfers allowed by check card purchase or PIN based transactions

Withdrawals and transfers at Branch or ATM not included in regulatory limits.

Regulatory limits are monitored; savings accounts exceeding regulatory limits will be closed and another Schwab Bank deposit account may be opened.

Check-writing permitted.

Monthly Regulatory Limit of Six Preauthorized Transfers, including:

Telephone transfers
Funds transfers to own account or third parties
Overdraft protection transfers
Up to three of the six transfers allowed by check card purchase or PIN based transactions

Withdrawals and transfers at Branch or ATM not included in regulatory limits.

Regulatory limits are monitored; money market accounts exceeding regulatory limits will be closed and another Schwab Bank deposit account may be opened.

Deposits, withdrawals, and term changes allowed once during a 10 calendar day grace period beginning on the maturity date.

Early Withdrawal Penalty applies to withdrawals made before the maturity date:

Amount equal to 90 days interest
Calculated on amount withdrawn

Overdraft Protection

Can provide overdraft protection to another eligible account.

No overdraft protection transfer fee.

Not eligible to provide overdraft protection.

Visa® Check Card

Yes.

Including unlimited ATM fee rebates.⁵

Yes.

Limited ATM fee rebates.⁴

No Check Card access.

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 Savings accounts have limitations on the number of certain types of transactions that may be posted to the account in a given Statement Period. See the Schwab Bank Deposit Account Agreement.

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.