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Limelight Bank Review 2022

Updated December 2, 2022
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At a glance

2.7
Rating: 2.7 stars out of 5
Bankrate Score
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CDs

Rating: 4.5 stars out of 5

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Overview

Limelight Bank offers only short-term CDs and is best for those who aren’t in need of any other types of bank accounts.

Highlights

  • Top CD Rates
Compare offers
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 2.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
4.05
%
APY
Rating: 2.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
3.85
%
APY
Rating: 2.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right

Overall

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

Pros

  • Checkmark

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

  • Checkmark

    The bank has competitive yields on its CDs.

  • Checkmark

    The $1,000 minimum deposit requirement for all CDs is reasonable and lower than some other banks.

Cons

  • 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.

Limelight Bank bank products

4.5
Rating: 4.5 stars out of 5
Bankrate Score

Limelight Bank CD overview

Limelight Bank offers CD terms of six months, one year, 18 months and three years. The 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 There is an early withdrawal penalty equal to 90 days of interest on the amount withdrawn from the six-month, one-year and 18-month CDs. 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.

Pros

  • Checkmark

    Limelight Bank offers competitive yields on its CDs, with higher rates for longer terms.

  • Checkmark

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

Cons

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

  • The bank doesn’t offer any specialty CDs.

Compare Offer
Bank logo
Member FDIC
CD
4.00
%
APY
Rating: 2.7 stars out of 5
InfoHover for more
$0
Min. deposit
1 yr
Term

Bank experience

It is based in Utah but is available to customers nationwide.

Customer service representatives are available by phone 24 hours on weekdays. The bank’s website features a form to ask questions, but there is no live-chat option. Limelight Bank customers can use the Capital Community Bank app.

Limelight Bank has no proprietary ATMs, nor is it part of an ATM network such as Allpoint or MoneyPass.

About Limelight Bank

Limelight Bank is an online-only bank based in Utah but available to customers nationwide. The bank is known for linking its business to eco-friendly causes. Customer deposits help the bank fund solar initiatives.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.