Would you like to read a comprehensive review of the Charles Schwab certificate of deposit? Responsible Economy has conducted an in-depth analysis of all its features, including interest rates, terms, fees, and everything you need to know. We also provide a comparison of the best certificates of deposit available in the United States in 2023, along with an explanatory video. Welcome!
Explicative video
We have created a video that provides a concise and easily understandable summary of all the features of the Charles Schwab Certificate of Deposit. If you enjoy our content, we encourage you to support us by subscribing to our channel. By subscribing, you will receive daily videos from us. Thank you for your support!
Features
In this section, we provide a detailed breakdown of each characteristic:
Interest rate
The interest rate for the Charles Schwab Certificate of Deposit varies based on the chosen terms. Here is a table displaying the different terms and their corresponding interest rates:
Maturity Ranges | Rates up to |
---|---|
1-3 Month CDs | 5.25% APY |
4-6 Month CDs | 5.22% APY |
7-9 Month CDs | 5.18% APY |
10-18 Month CDs | 5.15% APY |

Charles Schwab offers a competitive certificate of deposit with an impressive interest rate of 5.25% APY.
Fees
It’s important to consider any annual or monthly maintenance fees associated with a certificate of deposit. The Charles Schwab certificate of deposit stands out as it has no maintenance fees, making it a cost-effective option that is free to open.
Minimum deposit
To open a Charles Schwab certificate of deposit, a minimum deposit of $1,000 is required. This ensures that you meet the initial deposit requirement to establish the CD.
Best certificate of deposit in 2023
We have compiled a ranking of the best certificates of deposit available for opening in the United States in 2023. Here are the top options based on our analysis:

- 5.25% APY
- Minimum deposit: $0
- Term: 18 months
- Member FDIC

- 5.10% APY
- Minimum deposit: $500
- Term: 12 months
- Member FDIC

- 5.00% APY
- Minimum deposit: $1,000
- Term: 6 months
- Member FDIC

- 5.40% APY
- Minimum deposit: $0
- Term: 16 months
- Member FDIC

- 5.18% APY
- Minimum deposit: $1,000
- Term: 12 months
- Member FDIC

- 5.15% APY
- Minimum deposit: $1,000
- Term: 12 months
- Member FDIC

- 5.15% APY
- Minimum deposit: $0
- Term: 12 months
- Member FDIC

- 5.25% APY
- Minimum deposit: $1,000
- Term: 13 months
- Member FDIC
Certificates of deposit calculator
We have developed a deposit calculator so that you can easily see how much money you can earn:
Charles Schwab certificate of deposit calculator
Pros and cons
After thoroughly examining the features of the Charles Schwab certificate of deposit and comparing it with the best CDs available in the United States, we have compiled a table outlining the advantages and disadvantages:
Pros | Cons |
---|---|
No fees | Minimum deposit $1,000 |
5.25% APY | |
Requirements
To open the Charles Schwab certificate of deposit, you must meet the following requirements:
- Residency: You need to be a resident of the United States.
- Age: You must be at least 18 years old.
- Social Security: You should have a valid Social Security number.
- American account number: You are required to have an active American account number to facilitate the deposit and withdrawal of funds.
Conclusion
Based on our review, we have concluded that Charles Schwab offers a competitive certificate of deposit. Here are the key findings:
Advantages
- Competitive interest rate: Charles Schwab provides an opportunity to earn an interest rate of up to 5.25% APY, which is a competitive rate in the market.
- No commissions: Opening the certificate of deposit with Charles Schwab does not incur any commissions, making it a cost-effective choice.
- Flexible term options: Charles Schwab allows you to select a term of up to 18 months, providing flexibility to align with your financial goals.
Consideration
- Minimum deposit: The Charles Schwab certificate of deposit requires a minimum deposit of $1,000, which is an important factor to consider when assessing your available funds.
Based on these factors, it appears that Charles Schwab offers a competitive certificate of deposit. However, it’s essential to review and compare all the terms, features, and conditions to determine if it aligns with your specific financial needs and objectives.
Frequent questions
Now we answer all the questions you may have about the Charles Schwab certificate of deposit:
More information about Charles Schwab
Here is a table with information of interest about Charles Schwab:
Information | Description |
---|---|
Website | https://www.schwab.com/ |
https://twitter.com/charlesschwab | |
https://www.facebook.com/CharlesSchwab | |
YouTube | https://www.youtube.com/user/CharlesSchwab |
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Updated the day 1 September, 2023 by Alfredo Barandiarán

Alfredo Barandiarán is not only passionate about finance and the economy, but also has more than 10 years of experience helping people find the best possible financial product. He has worked for 5 years at Iahorro and 2 years at Atrapacrédito. He has currently been running the financial comparator Responsible Economy for 3 years. I graduated in business from Complutense University of Madrid and has studied at ESIC and CEF. You can see all the professional experience of Alfredo Barandiarán on his LinkedIn profile