How we make money: Some links on this page may earn us a commission. That never affects our scores or the order of our picks, which follow our published methodology. Advertiser disclosure
Peak Bank CDs Review
Our take: Simple 12, 24 and 36 month CDs with a $500 minimum. Rates trail the leaders.
Pros
- 3.69% APY on the 12 month CD
- $500 minimum deposit
- Same highly rated app as Peak Bank savings
Cons
- Rates trail the top CDs we track
- Only 12, 24 and 36 month terms
- Penalty schedule not published online
Key facts
- Terms
- 12, 24 and 36 months
- Early withdrawal penalty
- Applies; schedule given at account opening, not published online
- Interest
- Posted quarterly
- At maturity
- 10 day grace period, then auto renews
- Minimum to open
- $500
- Monthly fee
- No monthly fee
- Insurance
- FDIC insured through Idaho First Bank up to $250,000 per depositor, per ownership category
- FDIC certificate
- 58095 (Idaho First Bank, McCall, ID)
- Who can open
- Individual consumers; no business accounts
- Mobile app
- Idaho First Bank app used by Peak Bank: 4.7 on the App Store, 4.6 on Google Play (Sep 28, 2026)
- Customer service
- (866) 484-5705
Source: Peak Bank website, checked Oct 28, 2026. Insurance details from the FDIC BankFind database.
Peak Bank’s best CD rate is 3.69% APY on its 12 month CD. Its 24 month CD pays 3.34% and its 36 month CD pays 3.14%, each with a $500 minimum. Peak’s Envision savings account pays 4.27%, more than any of its CDs. Peak lists CD rates as accurate on the day you view them; we checked them on Oct 28, 2026.
Peak Bank CD rates today
| Term | APY |
|---|---|
| 12 months | 3.69% |
| 24 months | 3.34% |
| 36 months | 3.14% |
Rates for new CDs from Peak Bank’s website, checked October 25, 2026. Peak offers only these three terms.
CD rates change often for new deposits. Once you open a CD, your rate is fixed for the term.
Our verdict
Peak Bank’s CDs are simple, with a low $500 minimum, but the rates trail the leaders and there are only three terms. Its longer CDs pay less than its 12 month CD, so locking in for longer earns you nothing extra right now.
Peak CD or Peak savings?
At our latest check, Peak’s Envision High Yield Savings pays 4.27% APY, more than its 12 month CD, and you can withdraw any time. The savings rate is variable and can fall, while a CD rate is fixed for the term. If you want the higher rate today and the freedom to move money, the savings account wins. If you want a rate that cannot change, look at higher paying CDs elsewhere. Read our Peak Bank Envision review.
For comparison, the best 12 month rate across the CDs we track is 4.65% APY at CFG Bank CDs. For 2 and 3 year terms, see the best 2 year CD rates and best 3 year CD rates, or every CD side by side on our best CD rates page.
How much does a Peak Bank CD earn?
| Term | APY | On $500 | On $10,000 | On $25,000 |
|---|---|---|---|---|
| 12 months | 3.69% | $18 | $369 | $922 |
| 24 months | 3.34% | $34 | $679 | $1,698 |
| 36 months | 3.14% | $49 | $972 | $2,430 |
Interest earned over the full term at Peak Bank’s rates for new CDs, checked Oct 25, 2026. Peak posts interest to the CD quarterly.
For comparison, $10,000 in Peak’s Envision High Yield Savings at 4.27% APY would earn about $427 in a year if the rate held, versus about $369 in the 12 month CD. The CD rate is locked; the savings rate can change.
Rules to know
The minimum to open is $500. Accrued interest posts to the CD quarterly. CDs renew automatically at maturity, and you have a 10 day grace period starting on the maturity date to withdraw without a penalty. Peak Bank does not publish its early withdrawal penalty online; it is in the disclosures you get at opening. Peak serves individual consumers only, not businesses.
Is it safe?
Yes. Peak Bank is a division of Idaho First Bank in McCall, Idaho, FDIC certificate 58095, which we confirmed in the FDIC BankFind database on Oct 14, 2026. Deposits at Peak Bank and Idaho First Bank share one FDIC limit of $250,000 per depositor, per ownership category.
Compare CD rates by term: 6 month · 9 month · 1 year · 18 month · 2 year · 3 year · 4 year · 5 year
How we rated it
It scores well on its low minimum and loses points on rate compared with the leaders, the limited choice of terms and because the penalty is not published online. It scores 4.0 out of 5 on our scorecard for this category. See how we score on the comparison page and our methodology.
How Peak Bank compares
| Account | Rating | Best APY | 12 month APY |
|---|---|---|---|
| E*TRADE CDs (Morgan Stanley Private Bank) | 4.7 | 4.80% | 4.55% |
| Barclays Online CD | 4.7 | 4.75% | 4.50% |
| Synchrony Bank CDs | 4.7 | 4.75% | 4.30% |
| Capital One 360 CDs | 4.7 | 4.50% | 4.00% |
| Marcus by Goldman Sachs High Yield CD | 4.6 | 4.40% | 4.40% |
| Bread Savings CD | 4.4 | 4.85% | 4.45% |
| CFG Bank CDs | 4.4 | 4.82% | 4.65% |
| Happen Bank CD | 4.4 | 4.76% | 3.50% |
| American Express CDs | 4.4 | 4.40% | 3.65% |
| Always.bank CDs | 4.3 | 4.15% | 4.15% |
| Service Credit Union Share Certificates | 4.3 | 4.10% | 4.10% |
| Sallie Mae Bank CDs | 4.2 | 5.00% | 4.50% |
| Ivy Bank CDs | 4.2 | 4.25% | 4.05% |
| Popular Direct CDs | 4.0 | 5.00% | 4.60% |
| Peak Bank CDs | 4.0 | 3.69% | 3.69% |
Peak Bank CD FAQ
What are Peak Bank's CD rates?
3.69% APY for 12 months, 3.34% for 24 months and 3.14% for 36 months, as of Oct 28, 2026.
What is the minimum deposit for a Peak Bank CD?
$500.
How often does Peak Bank pay CD interest?
Accrued interest posts to the CD quarterly.
What happens when a Peak Bank CD matures?
You have a 10 day grace period starting on the maturity date. If you do nothing, the CD renews automatically.
Does Peak Bank's savings account pay more than its CDs?
At our latest check, yes. Peak's Envision savings rate is variable, while CD rates are fixed for the term.
Can I add money to a Peak Bank CD?
No. Peak Bank says you cannot add money to a CD after it is opened.
Can Peak Bank pay my CD interest to another account?
No. Interest posts directly to the CD every quarter.
Can I withdraw from a Peak Bank CD early?
Yes, but you may pay an early withdrawal penalty. Peak gives the penalty in the disclosures at account opening, or you can call (866) 484-5705 to ask.
Ready to open Peak Bank CDs?
Rates as of Oct 28, 2026. Confirm the current rate and terms on the provider’s site before you apply.