On This Page
On This Page
- At a glance
- Overall
- Bread Savings bank products
- Bank fees
- Customer experience
- About Bread Savings
- How Bread Savings compares to other banks
- FAQs
- Review Methodology
At a glance
3.9
Rating: 3.9 stars out of 5
Bankrate Score
CDs
Rating: 4 stars out of 5
Savings
Rating: 4.9 stars out of 5
About Bankrate Score
Overview
Bread Savings (formerly Comenity Direct) may be a good fit for consumers looking for higher-than-average savings rates. This online bank offers competitive yields on its savings account and its five terms of CDs. Its CDs range from one year to five years, providing consumers with most of the terms that they might need.
Highlights
- High APY
- Low Fees
Compare offers
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC.
Savings Account
5.25
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 3/7/2024
Bankrate Savings rating = 0/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min. balance for APY
Promoted offer: No fees. Easy deposits and quick withdrawals.
Jenius Bank
Member FDIC.
Savings Account Details
5.25
%
APY
$0
Min balance for APY
Offer rate as of3/7/2024
Interest rate5.25%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
No fees. Easy deposits and quick withdrawals.
Member FDIC
CD
5.15
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 3/7/2024
Rating: 4.9 stars out of 5
Bankrate CD rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate CD rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$500
Minimum deposit
Promoted offer: Expires 4/17/24. APY may change before CD is opened & funded.
Marcus by Goldman Sachs
Member FDIC
CD Details
5.15
%
APY
$500
Min. deposit
14mo
Term
Offer rate as of3/7/2024
Minimum deposit$500
Expires 4/17/24. APY may change before CD is opened & funded.
Member FDIC
Checking Account
0.50
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 3/7/2024
Rating: 4.9 stars out of 5
Bankrate Checking rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Checking rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$0
Min. balance for APY
SoFi
Member FDIC
Checking Account Details
0.50
%
APY
$0
To open
$0
To avoid fees
Offer rate as of3/7/2024
Minimum to avoid fees$0
Monthly fees$0
Overdraft/NSF fees$0
Out of network ATM fee$0
Has online accessYes
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC.
Savings Account
0.0
Rating: 0 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
5.25
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 3/7/2024
$0
Min. balance for APY
Promoted offer: No fees. Easy deposits and quick withdrawals.
Jenius Bank
Member FDIC.
Savings Account Details
5.25
%
APY
$0
Min balance for APY
Offer rate as of3/7/2024
Interest rate5.25%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
No fees. Easy deposits and quick withdrawals.
Member FDIC
CD
4.9
Rating: 4.9 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
5.15
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 3/7/2024
$500
Minimum deposit
Promoted offer: Expires 4/17/24. APY may change before CD is opened & funded.
Marcus by Goldman Sachs
Member FDIC
CD Details
5.15
%
APY
$500
Min. deposit
14mo
Term
Offer rate as of3/7/2024
Minimum deposit$500
Expires 4/17/24. APY may change before CD is opened & funded.
Member FDIC
Checking Account
4.9
Rating: 4.9 stars out of 5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Score
0.50
%
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
as of 3/7/2024
$0
Min. balance for APY
SoFi
Member FDIC
Checking Account Details
0.50
%
APY
$0
To open
$0
To avoid fees
Offer rate as of3/7/2024
Minimum to avoid fees$0
Monthly fees$0
Overdraft/NSF fees$0
Out of network ATM fee$0
Has online accessYes
Want to see more rates?
Take a look at our list of other banks that may be offering the rate you're looking for.
Overall
In April 2022, Comenity Direct became Bread Savings. The online-only bank offers a savings account and five terms of CDs with competitive yields. You’ll also find low minimum opening balance requirements, making it easy to open an account.
Consumers in search of checking and money market accounts or who need access to a branch will want to look elsewhere.
Pros
Since the Federal Reserve began raising interest rates in 2022, Bread has been one of the most competitive banks for consistently raising savings and CD yields.
There's no monthly fee charged for its high-yield savings account.
Cons
Customers can’t deposit cash.
There are no physical bank branches or ATM access.
The bank has limited product offerings.
Bread Savings banking products
4.9
/5
Rating: 4.9 stars out of 5
See methodologyCompare savings rates
SCORE BREAKDOWN
APY offering:
5.15%
Rating: 5 stars out of 5
5/5
Minimum balance to earn interest:
$0.00
Rating: 5 stars out of 5
5/5
Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
Access to funds:
Good
Rating: 4 stars out of 5
4/5
FEATURES
Bread Savings savings overview
Bread Savings offers a high-yield savings account with a competitive APY. The minimum deposit requirement is just $100, and there are no monthly maintenance fees. Bread Savings does not have an ATM network or physical branches, so deposits must be done by ACH transfer. Checks can also be deposited using the bank’s mobile app.
Pros
The account offers a highly competitive yield.
Customers need to deposit only $100 to open the Bread Savings high-yield savings account.
There's no monthly maintenance fee.
Cons
The Bread Savings High-Yield savings account doesn’t have ATM access.
Bread Savings charges $15 for an official bank check and $25 for an outgoing wire transfer.
You can’t deposit cash into a Bread Savings account.
-
See how rates for this account have changed over time.Interact with the trend lines to view APY by date.
Bread Savings
APY
APY
National average APY
How do we get this data?
Bread Savings savings rates
Date
Bread Savings
APY
APY
National average APY
09/27/2023 5.15% 0.57% 08/02/2023 5.00% 0.54% 07/10/2023 4.90% 0.54% 06/07/2023 4.75% 0.49% 04/25/2023 4.65% 0.42% 03/20/2023 4.50% 0.39%
Compare Offer
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC.
Savings Account
5.25
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 3/7/2024
$0
Min balance for APY
Jenius Bank
Member FDIC.
Savings Account Details
5.25
%
APY
$0
Min balance for APY
Offer rate as of3/7/2024
Interest rate5.25%
Minimum to avoid fees$0
Monthly fees$0
Check writingNo
No fees. Easy deposits and quick withdrawals.
Promoted offer: No fees. Easy deposits and quick withdrawals.
4.0
/5
Rating: 4 stars out of 5
See methodologyCompare CD rates
SCORE BREAKDOWN
APY offering:
5.35% - 1 yr
Rating: 5 stars out of 5
5/5
Minimum deposit:
$1,500.00
Rating: 3 stars out of 5
3/5
Range of term lengths:
1 yr – 5 yrs
Rating: 3 stars out of 5
3/5
Early withdrawal penalty:
Average
Rating: 3 stars out of 5
3/5
Offer no-penalty or bump-up CDs:
No
Rating: 0 stars out of 5
0/5
Offer IRA CDs:
No
Rating: 0 stars out of 5
0/5
FEATURES
4.15% – 5.35% APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY as of3/7/2024
$1,500 minimum deposit to open
1 year – 5 years
Bread Savings CD overview
Bread Savings offers one-, two-, three-, four- and five-year CDs with yields far better than what the average brick-and-mortar bank pays. Minimum deposit requirements are $1,500. Specialty CDs, such as a no-penalty or bump-up CD, are not offered.
Pros
Bread Savings CD rates are competitive.
There are no monthly maintenance fees.
A solid range of CD terms are offered.
Cons
Specialty CDs aren’t available.
Other banks have lower minimum deposit requirements on CDs.
There are no terms shorter than a year available.
-
See how rates for this account have changed over time.Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
Bread Savings
APY
APY
National average APY
How do we get this data?
Bread Savings CD rates
Date
Bread Savings
APY
APY
National average APY
01/19/2024 4.15% 1.43% 12/08/2023 4.25% 1.43% 11/29/2023 4.50% 1.45% 10/26/2023 4.75% 1.46% 09/27/2023 4.65% 1.43% 08/30/2023 4.50% 1.38% 07/10/2023 4.35% 1.35%
Compare Offer
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
Member FDIC
CD
5.15
%
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY
APY, or annual percentage yield, is the yearly return on a bank or investment account.
As of 3/7/2024
Rating: 4.9 stars out of 5
Bankrate CD rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
$500
Min. deposit
14mo
Term
Marcus by Goldman Sachs
Member FDIC
CD Details
5.15
%
APY
$500
Min. deposit
14mo
Term
Offer rate as of3/7/2024
Minimum deposit$500
Expires 4/17/24. APY may change before CD is opened & funded.
Promoted offer: Expires 4/17/24. APY may change before CD is opened & funded.
Compare more:Bankrate's best high-yield savings account offers
Bank fees
Bread Savings only charges fees for outgoing wire transfers ($25), official bank checks ($15 each time you need one) and for paper statements ($5 per paper statement inquiry), according to Bread Savings’ website.
| Fee | Charged? | |
|---|---|---|
| Overdraft fee | None | |
| Non-sufficient funds fees | None | |
| Monthly maintenance fees | None | |
| Out-of-network ATM fee | N/A | |
| Excessive transaction fee | None | |
| Paper statements | $5 per paper statement request |
Find out:Tips to avoid common bank fees
Customer experience
Bread Savings (formerly Comenity Direct) doesn’t have branches, but customer service representatives are available via online chat or telephone weekdays, 7 a.m. and 9 p.m. Central, and weekends from 9 a.m. and 5 p.m.
Bread Savings’ app has received a rating of 3.8 on Android and 4.5 on iOS. The app includes basic features such as mobile check deposits and the ability to transfer funds.
About Bread Savings
Bread Savings is an online bank that offers a high-yield savings account and five terms of CDs — products that debuted under the Comenity Direct name in 2019. Comenity Direct was renamed Bread Savings in April 2022.
How Bread Savings compares to other banks
Bread Savings vs. Capital One Bank
Capital One offers more types of banking products than Bread Savings. But Bread Savings generally offers higher yields.
Bread Savings requires a $1,500 minimum deposit for its CDs, while Capital One doesn’t have a minimum requirement.
Learn more:The best banks of 2024
Bread Savings FAQs
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.
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