Bask Bank Review: Savings and CDs
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Overall institution rating
4.5
Bask Bank is the online-only bank division of Texas Capital Bank based in Dallas, offering savings accounts and certificates of deposit. But the bank has limited offerings: There’s no checking account and no access to ATMs or branches.
Though the bank offers certificates of deposit from three-month to two-year terms, not all are the most common terms, so we did not include them as part of the overall bank rating.
Best for: Savers looking for a solid savings rate and who have bank accounts elsewhere to fund this account.
Pros
- No monthly fees.
- Competitive rates on savings and CDs.
- No minimum opening deposits on savings accounts.
- Extended phone customer service hours.
Cons
- No cash deposit.
- No branch access.
- No checking account offered.
Full review
Savings
![Bask Interest Savings Account Bask Interest Savings Account](https://www.nerdwallet.com/cdn-cgi/image/quality=85/cdn/banking/logos/Bask_logo_rgb.png)
Savings
Member FDIC
4.5
/5 NerdWallet ratingat Bask Bank
Bask Bank’s Interest Savings Account offers a highly competitive rate with no monthly fee. There’s no minimum balance requirement or minimum deposit required to open the account, and you can earn interest on any balance.
Certificates of deposit
![Bask Bank CD Bask Bank CD](https://www.nerdwallet.com/cdn-cgi/image/quality=85/cdn/banking/logos/Bask_logo_rgb.png)
CD
Member FDIC
2.5
/5 NerdWallet ratingBask Bank offers a few CD terms, ranging from three months to two years. Other banks offer a greater variety of term lengths, which can be beneficial for CD laddering. The minimum deposit to open an account is $1,000.
» COMPARE: Best CD rates
Rates are highly competitive: A six-month CD earns 5.10% annual percentage yield, or APY, and a one-year CD earns 5.00% APY. Those rates are many times higher than the national average rates of 1.82% and 1.85% for those terms. Because there are relatively few CDs offered and not all are the most common terms, we did not include them as part of the overall bank rating.
Customer experience
4.0
NerdWallet ratingBask Bank doesn’t offer checking accounts or access to branches, but its savings and CD rates are highly competitive. Funding and transfers can be made through the bank website or its mobile apps. The only other option is to wire funds. Bask doesn't charge for incoming wires, but the sending institution might charge you a fee. Bask does charge for outgoing wires.
Customer support is available by phone from 7 a.m. to 7 p.m. Central Standard Time on weekdays and from 9 a.m. to 4 p.m. CST on Saturday. Support is also available by email.
The mobile apps earn solid scores from iOS and Android users. For comparison, check out our list of best banks and credit unions for mobile banking.
How does Bask Bank compare?
Current Product
![]() Member FDIC | ![]() Member FDIC | ![]() Member FDIC |
---|---|---|
NerdWallet rating 4.5 /5 | NerdWallet rating 4.5 /5 | NerdWallet rating 4.5 /5 |
APY 5.10% With $0 min. balance for APY | APY 4.60% With $0 min. balance for APY | APY 5.00% With $5,000 min. balance for APY |
Bonus N/A | Bonus $300 Earn up to $300 with direct deposit. Terms apply. | Bonus N/A |
Learn more at Bask Bank | Learn more at SoFi Bank, N.A. | Learn more at CIT Bank |
Methodology
NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.