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Dime Certificates of Deposit (CDs)

Investing in a Dime certificate of deposit means maximizing returns on your hard-earned money, with very little risk. Secure, FDIC-insured investment accounts, CDs provide a guaranteed fixed interest rate for a specified term — the longer the term, the better the rate.

  • Interest compounded daily, credited monthly and at maturity.
  • Various terms from three months to 84 months.
  • Free online banking to verify account information.
  • Safe and secure; FDIC-insured.
  • Grace period of 10 calendar days to renew.
  • $500 minimum to open.

Whether you open one CD or multiple CDs at different term lengths, Dime CDs are a smart addition to any financial plan. Offering some of the best CD rates in New York and across the country, at Dime you can watch your savings grow safely, securely and quickly.

What is a certificate of deposit?

Like a standard Statement Savings account, a CD helps you save more money than just what you deposit by paying interest on your funds. It differs from a savings account in that you agree to a preselected term to deposit your funds in the bank. Different CDs vary in their fixed deposit periods. At Dime, deposit periods range from as few as three months to as many as seven years, and at Dime (and in general), the longer the deposit period, the higher the interest rate for your CD.

How do I open a CD?

All you need to open a certificate of deposit at Dime is $500 and a few minutes to stop by a branch to open your new account. Even if you don’t have an existing checking or savings account with Dime, you can still invest your money quickly and easily in a secure CD. A bank representative will help you create your account and advise on the deposit term based on your individual financial goals and situation.

Who should save with CDs?

CDs are a great way to jump-start your savings goals, especially if you have a lump sum of money saved that you know you won't need to access for a certain length of time. Great for recent graduates who have some initial savings, or monetary gifts that can be grown even more by waiting a short period to use the funds, CDs provide a low-risk savings option to help all kinds of savers reach their goals more quickly. Whether it's a signing bonus from starting that new job, or an unexpected windfall, a certificate of deposit is an easy way to grow your savings without having to think about it.

Available CD interest rates

CD interest rates almost always vary depending on the term of the deposit. A longer deposit period often results in a greater interest rate.

Dime CDs FAQ

Still have questions? We have answers.

What is the minimum opening balance?
The minimum opening balance for a Dime CD is $500.
Where can I find CD rates?
Great question! You can find CD rates here.
What if I need to withdraw money early?

If you need to withdraw money early from your CD, you’ll incur one of the following penalties, depending on the term of the CD:

  1. Accounts with terms of three to six months will lose one month’s simple interest;
  2. Accounts with terms of more than six months to one year will lose three months’ simple interest;
  3. Accounts with terms of more than one year to two years will lose nine months’ simple interest;
  4. Accounts with terms of more than two years to less than three years will lose 18 months’ simple interest; and
  5. Accounts with terms of three years or more will lose 24 months’ simple interest.

The penalty will be calculated on the amount withdrawn at the interest rate the account is earning at the time the early withdrawal is processed.

Are there monthly maintenance fees?
No. There are no monthly maintenance fees for CDs.
When do I start earning interest on my CD?
Interest begins to accrue on the day you deposit any cash or non-cash (for example, checks) items to your account.

Have a question or need help with CDs?



Or give us a call!   call 1-800-321-DIME (3463)


*$500 minimum balance is required to open and earn the Annual Percentage Yield (APY) on this special CD account offering (maximum of $500,000). APY is effective 2/23/2018. Funds to open this account cannot be transferred from any existing Dime account. Premature withdrawal is subject to penalty and fees may reduce earnings. Deposits insured to the maximum amount allowed by law. New money only.