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Quontic Bank Review: Checking, Savings & CD Rates

Quontic Bank CD Rates Review April 2023
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    Quontic Bank CD Rates Review 2022

    • Quontic offers competitive rates on its deposit products.
    • You only need to deposit $100 to open a savings account.
    • You can access tens of thousands of free ATMs nationwide.
    • Apple Pay, Google Pay, Samsung Pay, and Zelle are options for transferring money at Quontic Bank.
    • Quontic has limited branch access.

    Quontic Bank is an innovative bank that began as Golden First Bank, a small troubled bank that Steven Schnall, a real estate investor and developer, purchased.

    Quontic’s headquarters are in New York City. It offers certificates of deposit, checking and savings accounts, and a money market account.

    In 2020, Quontic Bank made a splash by launching a bitcoin reward checking program. The account is available in most states, but not in every state.

    Quontic Bank CD Rates

    6 Months
    .55%
    • Annual Percentage Yield
    1 year
    .60%
    • Annual Percentage Yield
    2 year
    .75%
    • Annual Percentage Yield
    5 year
    1.00%
    • Annual Percentage Yield

    Quontic Bank Savings Account Rates

    GET 0.55% APY¹

    Interest is compounded daily and credited to your account every month. Minimum opening deposit: $100. No monthly service fees. Limit of 6 withdrawals per statement cycle.²

    Enjoy the convenience of banking on your terms—whenever you want, anytime you want with our online banking platform and dynamic mobile app. Features like remote check deposit, bill pay, account transfers, and receipt tracking make managing your finances easy.

    1Annual Percentage Yield (APY). Ask for details. Additional terms, conditions, fees & exclusions may apply. Rates may change without notice. If the account is closed before interest and/or bonus is credited, accrued interest and/or bonus may be forfeited for that statement cycle. Fees could reduce earnings. In order to sign up for online banking, you must have a Quontic Bank account. Mobile banking requires enrollment through online banking. Data connection required. Wireless carrier fees may apply. 

    There is no charge from Quontic Bank for account alerts, but message & data rates may apply. Mobile check deposit is available for select mobile devices. Subject to eligibility & further review. Deposits are subject to verification & not available for immediate withdrawal. Deposit limits & other restrictions may apply.

    2 There is a $10.00 excess transaction fee for every transaction over six for preauthorized withdrawals, automatic or telephonic transfers, checks, drafts, and debit cards or similar transactions from your account per account statement cycle.

    Quontic Bank Money Market Rates

    The Quontic Money Market account offers a competitive APY. You only need to deposit $100 to open an account, but you have to keep a balance of at least $150,000 in order to earn the highest APY¹. Limit of 6 withdrawals per statement cycle².  APY earned on the account daily balance.

    Less than $5,000 = .30% Money Market Rate

    $5,000 to $149,999 = .35%

    $150,000 + = .40%

    1APY earned on the account daily balance. Ask for details. Additional terms, conditions, fees & exclusions may apply. Rates may change without notice. If the account is closed before interest and/or bonus is credited, accrued interest and/or bonus may be forfeited for that statement cycle.
    Fees could reduce earnings. In order to sign up for online banking, you must have a Quontic Bank account. Mobile banking requires enrollment through online banking. Data connection required. Wireless carrier fees may apply.
    There is no charge from Quontic Bank for account alerts, but message & data rates may apply. Mobile check deposit is available for select mobile devices. Subject to eligibility & further review. Deposits are subject to verification & not available for immediate withdrawal. Deposit limits & other restrictions may apply. Application is subject to approval & further review. Information is accurate as of July 21, 2021, and may change without notice.
    ² There is a $10.00 excess transaction fee for every transaction over six for preauthorized withdrawals, automatic or telephonic transfers, checks, drafts, debit cards, or similar transactions from your account per account statement cycle.

    Today's Best CD Rates

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    0.75% APY
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    0.70% APY
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    1.00% APY
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    0.85% APY
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    Best 5 Year CD Rates
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    1.11% APY
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    Today's Best Fixed Annuity Rates

    TermInsurerCompany DetailsRateAnnuity AM BestApplication
    2 Years Oceanview life and annuity logo Oceanview Life5.00%CL SundanceA-Apply
    3 YearsSecurity sentinel life logoSentinel Security5.90%CL SundanceB++Apply
    4 Years Nassau logo Nassau5.50%MyAnnuityB++Apply
    5 Years Ibexis annuity logo Ibexis 6.15% SimpleMYGA PlusA-Apply
    6 Years Equitrust annuity logo EquiTrust5.80%Certainty SelectB++Apply
    7 Years Nassau logo Nassau5.80%Platinum AssureB++Apply
    8 Years Equitrust annuity logo EquiTrust5.50%Certainty SelectB++Apply
    9 Years Clear spring life and annuity logo Clear Spring5.40%MYGA PreserveA-Apply
    10 Years Equitrust annuity logo EquiTrust5.60%Certainty SelectB++Apply

    CD vs. Annuity Comparison Table

    Fixed annuities work very much like a certificate of deposit (CD). A fixed annuity, or multi-year guaranteed annuity (MYGA), pays a set guaranteed interest rate for the entire initial guarantee period- just like a CD.

    For that reason, fixed annuities are often referred to as “CD Type Annuities“.

    FEATURESFIXED ANNUITYCD
    Issued ByInsurance CompaniesBanks
    Investment Amount$2,000 - $1,000,000Essentially Any Amount
    Investment Term2 years - 10 years3 months - 5 years
    Interest Rates (APY)Varies by product.Varies by bank, term and investment amount.
    LiquidityUsually, 10% annually or interest earned.Almost always accumulated interest.
    GuaranteesBacked by Insurer & State Guaranty Associations.Backed by the FDIC.
    Death BenefitMay avoid probate.Probate process required.

    Quontic Bank Contact Information

    CUSTOMER SERVICE HOURS:

    Monday – Friday
    9:00am – 6:00pm EST

    EMAIL:
    info@quonticbank.com

    Quontic Bank Login

     

    PHONE NUMBERS

    CALL:
    General Inquiries:
    1-800-908-6600
    Online & Mobile Banking Support:
    1-855-226-5287
    Mortgage Loan Servicing:
    1-833-756-2671

    FAQ

    Most frequent questions and answers

    Quontic Bank’s routing number is 021473030

    No, Quontic operates as a national, digital bank which allows them to pass on the overhead cost savings from operating an expensive network of branches on to their customers in the form of lower fees, better rates, or higher rewards.

    You can not lose money in a fixed annuity. However, guarantees are backed by the claims-paying ability of the issuing insurance company so it is important to consider an insurer’s financial rating when shopping for an annuity.

    Fixed Annuities do not have any fees or expenses.

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