Account Basics
High-Yield Savings
The Bread Savings High-Yield Savings Account pays 5.15% APY, which is far greater than the national average rate on savings accounts. Interest is compounded daily and credited monthly.
You’ll need to deposit a minimum of $100 to open a high-yield savings account, but there’s no minimum balance requirement to maintain the account.
There is no monthly maintenance fee. You also won’t get charged for ACH transfers, online statements or incoming wire transfers. However, you’ll pay $25 per outgoing wire transfer, $15 per official check request and $5 each time you request a paper statement.
To take cash out, you must transfer money to a linked account. Bread Savings doesn’t offer ATM cards, debit cards or checks with this account. You can add money via mobile check deposit and ACH transfer.
CDs
Bread Savings offers five CDs, with terms from one to five years. There’s a $1,500 minimum deposit requirement to open a CD. Earned interest is compounded daily and credited monthly to your account.
Here are the rates for Bread Savings Certificate of Deposit:
| CD Term | APY | Minimum Deposit |
|---|---|---|
|
1 Year
|
5.35%
|
$1,500
|
|
2 Years
|
4.65%
|
$1,500
|
|
3 Years
|
4.25%
|
$1,500
|
|
4 Years
|
4.15%
|
$1,500
|
|
5 Years
|
4.15%
|
$1,500
|
The APY assumes that all interest remains on deposit until the CD maturity date. However, you can opt to have interest paid out monthly to a Bread Savings or other verified savings account.
You’ll be notified by Bread Savings when your CD is approaching maturity. Once your CD reaches its maturity date, you’ll have a 10-day grace period to withdraw funds without penalty. If you do nothing at maturity, your CD will automatically renew for the same term but at the interest rate that’s currently being offered.
You’ll be charged an early withdrawal penalty if you decide to withdraw your funds prior to the CD maturity date. The penalty for terms shorter than one year is 90 days of simple interest. For CD terms of one year to three years, the penalty is 180 days of simple interest. For CD terms of four years or more, the penalty is 365 days of simple interest.
As with the Bread Savings high-yield savings account, there’s no charge for ACH and incoming wire transfers.
Access on the Go
Though Bread Savings lacks branches, it provides digital access to its products through a mobile app (available for iOS and Android devices) and online banking. Both web and mobile app access are available 24/7, but if you prefer to speak with someone directly, you can chat with a customer service representative Monday through Friday, 7 a.m. to 9 p.m. CT, and Saturday and Sunday (and most holidays), 9 a.m. to 5 p.m. CT.
Frequently Asked Questions (FAQs)
Is Bread Savings FDIC insured?
Yes, Bread Savings, formerly Comenity Direct, is a product of Comenity Capital Bank, which is FDIC insured (FDIC certificate No. 57570). This means that your money is insured for up to $250,000 per depositor, for each account ownership category, in the event of a bank failure.
How do I contact Bread Savings?
If you have questions regarding your Bread Savings account, call customer service at 833-755-4354. You also can send a secure message via your online account.
What are the requirements to open a Bread Savings account?
To open an account with Bread Savings, you must be at least 18 years old, be a U.S. citizen or resident alien, have a U.S. government-issued Social Security number and a physical U.S. address.
How do I log into my Bread Savings account?
Visit the Bread Savings website. The login button is in the top right corner of the home page. From there, input your username and password to view your account. You can also access your account through the mobile app.
