Digital Savings & CDs

Open a flexible High Yield Savings account at 3.75% APY* or a CD at 4.00% APY*

Most Flexible Option calendar

Digital High Yield Savings

3.75% APY*

  • $100 minimum opening deposit
  • No monthly service fee
  • FDIC insured
  • Interest Compounded Daily
  • Fast and secure online application
Apply now
Best Rate calendar

Digital 7 Month CD

4.00% APY*

  • Interest compounded daily
  • No monthly service fee
  • FDIC insured
  • $1,000 minimum opening deposit
  • Fast and secure online application
Apply now

Reasons to Love Bankwell Direct

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Stay Safe With FDIC Insurance

All accounts are FDIC insured to the maximum legal limits.

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Open Your Account in Minutes

No need to talk to a person; create your account 100% online.

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Strong Returns 

Once your account is opened, lock in a high interest rate and watch your money grow.

FAQs

Bankwell Direct is part of Bankwell Financial Group, a publicly-traded commercial bank with more than $3.5 billion in assets with nine branch locations throughout southern Connecticut. When you open an account with Bankwell Direct, you are a Bankwell customer. We bring high tech, high touch and high quality banking with the expertise of our experienced team of professionals.

Opening an account is easy and takes only a few minutes. After you select the account you want to open, just enter your information, and follow simple steps to complete the account set up.

Yes, you can open joint accounts to share ownership of the account.

Interest rates are updated periodically based on many factors, including market conditions.

Yes, our Client Support Center is there to assist you, M-F, from 8am – 6pm EST and is available through phone and chat. You can reach them through our website, mobile app or by calling 877-715-3265. We are there to answer your standard questions and address more complex transactions, account-related inquiries, or technical issues that may arise.

Yes, your deposits are FDIC insured by Bankwell in accordance with FDIC standards. You can visit www.FDIC.gov for more information. 

Yes, we have advanced security measures such as encryption, multi factor authentication and fraud detection systems to ensure the safety of your financial information.

Bankwell Direct is part of Bankwell’s online banking platform.  Visit Online Enrollment to enroll in online banking.  For access on the go, download the Bankwell app for your device.  

Still have questions?

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Ready to lock-in these great rates? Open your account today!

 

* APY offer valid as of September 24, 2025. Annual Percentage Yield (APY) is subject to certain terms and conditions. Digital 7 Month CD APY is 4.00% and the Interest Rate is 3.92%. Digital High-Yield Savings APY is 3.75% and the Annual Interest Rate is 3.68%.  The Digital High-Yield Savings rate is variable and has a $100 minimum to open and earn interest.  Fees may reduce earnings. Excessive transfers or withdrawals may result in fees. Offer subject to change without notice.

$1,000 minimum required to open a CD. A disclosure of the current interest rate and APY for these accounts will be provided to you at account opening. The interest rate and APY will not change for the term of the account. The daily balance method is used to calculate interest on these accounts and applies a daily periodic rate to the principal balance in the account each day. You may not make additional deposits to these accounts.   You may not make a withdrawal of any kind during the first seven (7) calendar days after the initial deposit. APY assumes principal and interest remain on deposit for twelve (12) months. A penalty will be imposed for early withdrawal. Withdrawal and/or fees will reduce earnings. Accounts automatically renew with a 10 day grace period.