First Republic Bank CD rates

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First Republic Bank was founded in 1985 and offers a variety of products and services from personal and business banking to wealth management. Overall, First Republic Bank CD rates aren’t the best on the market, and they come with a high minimum deposit requirement when compared to competitors.

Bankrate’s overall rating of First Republic Bank’s offerings is a 2.4 out of 5.

First Republic Bank CD rates

First Republic Bank CDs include traditional and liquid options. A liquid CD provides a guaranteed interest rate on your deposit for a fixed amount of time while also allowing you to withdraw your money without penalty as often as every seven days. Traditional CD accounts, on the other hand, require you to keep your full deposit amount in the account until it matures to avoid penalties but offer higher interest rates an incentive.

Account name Term APY Minimum deposit
CD 30 days 0.05% $10,000
CD 3 months 0.25% $10,000
CD 4 months (special) 0.30% $10,000
CD 6 months 0.30% $10,000
CD 8 months (liquid) 0.20% $10,000
CD 12 months 0.35% $10,000
CD 18 months 0.40% $10,000
CD 2 years 0.40% $10,000
CD 3 years 0.45% $10,000
CD 4 years 0.45% $10,000
CD 5 years 0.55% $10,000
CD 6 years 0.55% $10,000

Note: The APYs (annual percentage yield) shown are as of Sept. 3, 2020. The APYs for some products may vary by region.

How First Republic Bank compares to top-yielding banks

When comparing First Republic Bank’s CD rates to the best CD rates on the market, First Republic is at the back of the pack. The bank’s one-year CD rate is 0.35 percent APY while the best banks offer up to 1.00 percent APY. The three-year APY sits at a mere 0.45 percent APY while competitors range from 0.50 percent up to 1.05 percent at Comenity Direct.

When looking at other CD terms, First Republic also falls behind: The bank requires a deposit of at least $10,000 on all CDs while several other banks require $2,000 or even $0 along with better rates.

Other savings options at First Republic Bank

In addition to CDs, First Republic Bank also offers its Passbook Savings account. The account has no monthly fee, only requires a $500 deposit to get started, and offers a variable interest rate with daily compounding interest. The APY you get depends on your location and the amount you deposit into the account.

Featured image by Prostock-studio of Shutterstock.