Limelight Bank Review 2021

Published December 2020 by Matthew Goldberg

AT A GLANCE
2.7

Bankrate Score

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Top CD rates

Limelight Bank is best for those looking for short-term CDs. The bank doesn't offer any other accounts.

  • CDs
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    4.5
  • MORE HIGH-YIELD OPTIONS
    MORE HIGH-YIELD OPTIONS
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    Goldman Sachs Bank USA

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    Overall

    2.7

    Bankrate Score

    Limelight Bank is the online division of Capital Community Bank. It offers competitive yields on CDs. However, it doesn’t offer any other types of bank accounts.

    What we like

    • Limelight Bank makes eco-friendly decisions and works with solar providers to advance its mission of preserving natural resources.

    • The bank has competitive yields on its CDs.

    • Its $1,000 minimum deposit requirement is lower than some other banks.

    What we don't

    • Limelight Bank only offers CDs.

    • The bank doesn’t have its own app. It uses Capital Community Bank’s app.

    • Limelight Bank only has telephone customer service hours during the week.

    CD rates

    4.5

    Bankrate Score

    OTHER CD OFFERS YOU MAY LIKE
    Goldman Sachs Bank USA

    Member FDIC

    CD

    0.65 % APY

    9mo

    Term

    $ 500

    Min. deposit

    Limelight Bank offers CD terms of six months, one year, 18 months and three years. These terms give customers some flexibility to find a CD that matches their short-term saving needs.

    All of Limelight’s CDs require at least $1,000 to open. There is an early withdrawal penalty equal to 90 days of interest on the amount withdrawn from a six-month CD, one-year CD and an 18-month CD. The 18-month CD penalty equals 180 days of interest on the amount you withdraw.

    The bank doesn’t offer any specialty CDs, such as bump-up or no-penalty CDs.

    What we like

    • Limelight Bank offers competitive yields on its CDs.

    • The $1,000 minimum to open is a reasonable amount compared with some other banks.

    What we don't

    • Those looking for a long-term CD will need to look elsewhere.

    • The bank doesn’t offer any specialty CDs.

    Bank experience

    Limelight Bank ties its business with green initiatives and works with solar providers. It is based in Utah but is available to customers nationwide.

    Customer service representatives are available by phone on weekdays. There’s a form to ask a question on the bank’s website, but there doesn’t appear to be a live chatting option. Limelight Bank customers can use the Capital Community Bank app.

    Limelight Bank offers no owned-and-operated ATMs, nor is it part of an ATM network such as Allpoint or MoneyPass.

    About

    Limelight Bank is known for linking its business to help the environment. Customer deposits help the bank fund solar initiatives.

    Matthew Goldberg Twitter Created with Sketch. @MATTATBANKRATE

    Matthew Goldberg Twitter Created with Sketch. @MATTATBANKRATE

    About the author Matthew Goldberg is a consumer banking reporter at Bankrate. He uses his banking and financial services experience to help readers with personal finance. Expertise Banking and insurance Experience Nearly his entire career has either been as a reporter or working in financial services, in banking and insurance. He’s been in financial services for more than a decade. His career includes being a banker in New York City. His reporting career includes working as a staff reporter at two daily newspapers. He earned his first newspaper bylines in 1998. He has been honored by both the Illinois Associated Press Editors Association and the Illinois Press Association. His writing has been featured online on MSN, the Miami Herald, the Houston Chronicle, the Omaha World-Herald, The Kansas City Star, the Arizona Daily Star, and appeared in Sports Illustrated On Campus, The Atlanta Journal-Constitution, The Buffalo News and other publications. Matthew’s radio experience includes being a weekly panelist on the SportsWriter’s show on WGEM AM ESPN 1440 in Quincy, Illinois. He was also an occasional co-host and call-in guest on WGEM SportsCenter. He’s also been a guest on other stations throughout the country. Matthew is currently a member of the Board of Governors at the Society for Advancing Business Editing and Writing (SABEW), which is the world's largest and oldest organization of business and financial journalists. He is on the organization’s training and finance committees. He has previously served on conference planning committees and has been a Best in Business contest judge for the organization. Education Matthew earned a bachelor’s degree at Illinois State University and an MBA at William Paterson University. Media mentions CNBC CNBC Acorns + CNBC WGN Radio 720 in Chicago 1080 KRLD Dallas-Fort Worth