Overview
Fidelity Bank CDs differ from typical bank certificates of deposit in that they are brokered for brokerage firm customers. You can purchase a brokered CD from multiple banks but hold it with Fidelity. This allows you to have a higher amount insured by the FDIC.
Fidelity Brokered CDs have just about the highest rates in the industry, too. They can provide great earnings no matter what you’re saving for. Fidelity Bank doesn’t have the widest range of CD terms, with only nine options available. However, it does make for an easily created CD ladder. You could open every CD account at the same time and benefit from a payout at the end of each.
To calculate how much interest you could earn with a CD, try using SmartAsset's CD calculator.
| Fidelity Brokered CD | Minimum Deposit | Rate |
| 3 Month | $1,000 | 4.90% |
| 6 Month | $1,000 | 4.65% |
| 9 Month | $1,000 | 4.45% |
| 1 Year | $1,000 | 4.30% |
| 18 Month | $1,000 | 4.15% |
| 2 Year | $1,000 | 3.95% |
| 3 Year | $1,000 | 3.90% |
| 4 Year | $1,000 | 3.85% |
| 5 Year | $1,000 | 3.80% |
Overview of Fidelity CDs
You can open a brokered CD in two ways. The first is to open it as new issue offerings. This allows you to avoid paying trading fees to purchase new issue offerings. Your second option is to open a brokered CD from the secondary market. You will face trading fees here, though, of $1 per CD. However, you have the perk of being able to access your secondary market brokered CDs before it reaches maturity.
Fidelity also offers its Fidelity Auto Roll Program, which offers a couple of handy perks. For starters, this program automatically renews your CDs according to your chosen asset allocation. It also allows for early withdrawals without incurring heavy penalties. This feature sets it apart from most other bank CDs which charge a penalty for all early withdrawals. The penalty usually negates the perks of an early withdrawal since it charges a portion of interest earned.
Each Fidelity CD also comes with the flexibility to sell part of your funds or add onto them thanks to the Auto Roll Program. Then to keep track of your accounts and earnings, you can set up Fidelity Alerts for periodic alerts. You can cancel the Auto Roll program at any time.
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How Much You Earn With Fidelity Certificate of Deposits Over Time
If you choose to open a Fidelity Brokered CD and not fiddle with it and the market, your money will be growing at some great rates. These rates blow many banks’ regular CD rates out of the water. However, don’t forget that these are still brokered CDs that are connected to the market.
It’s important to note that these amounts reflect your possible final balances at the end of the term. Your exact earnings, however, depend on your initial deposit and how often Fidelity chooses to compound your interest. We’ve calculated the numbers below as though interest is compounded daily.
| Initial Deposit | 3-Month CD | 12-Month CD | 60-Month CD |
| $2,500 | $2,530.08 | $2,607.50 | $3,012.50 |
| $5,000 | $5,060.16 | $5,215 | $6,025 |
| $10,000 | $10,120.31 | $10,430 | $12,049.99 |
Compare Fidelity to Other Competitive Offers
How Fidelity CDs Rates Compare to Other Banks
Don’t forget that Fidelity CDs are different in that they are brokered. That means they can be traded on the market, either with new issue offerings or on the secondary market. Your deposit will still earn according to the given interest rate.
Competitors like Discover® Bank, Ally Bank, and Marcus offer a more standard approach to CDs and bank accounts in general. So if you’re looking to keep all your bank accounts with one institution, Fidelity wouldn’t be the right option.
| CD Account | Fidelity | Discover | Ally Bank | Marcus by Goldman Sachs |
| 6 Month | 4.65% | 3.90% | 4.90% | 4.75% |
| 1 Year | 4.30% | 4.10% | 4.50% | 4.70% |
| 3 Year | 3.90% | 3.50% | 3.75% | 4.15% |
| 5 Year | 3.80% | 3.40% | 3.75% | 4.00% |
Should You Get a Fidelity CD Account?
You should get a Fidelity CD account if you’re comfortable working with brokered CD accounts, rather than a specific bank’s own accounts. This means you do have access to a wider variety of CDs from various locations. You can also sell your CDs on the secondary market if you choose to. However, this also means you can lose money with these CDs according to the market and its rates.
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