Pros
Low minimum deposit requirement: Quontic CDs can be opened with just $500
Competitive APY on 3-month CD: Quontic offers a 4.95% APY on their 1-year CD
FDIC insurance up to $250,000: Quontic CD accounts are FDIC-insured
Cons
Strict early withdrawal penalties: Quontic imposes hefty penalties for early withdrawals
Limited CD term options: Quontic notably lacks a 4-year CD option
Entirely online banking experience: As a primarily digital bank, Quontic has no physical branches for in-person service