Luminate Bank savings and CD rates
Luminate Bank advertises 3.50% APY on its Luminate Radiant Savings account. That is 3.13 percentage points above the national savings average of 0.37% (FDIC, Sep 2026).
Ranked #142 of 2523 tracked savings rates by advertised APY. For a $10,000 balance it would rank #90.
Luminate Bank at a glance
| Savings | |
|---|---|
| Top savings APY | 3.50% · Luminate Radiant Savings |
| Minimum to open | not stated · Luminate Radiant Savings |
| Against the national average | 3.13 percentage points above the 0.37% FDIC savings average (Sep 2026) |
| CDs | |
| Top CD APY | 4.10% · 4 months · 4 Month Certificate Special |
| Minimum to open | $10,000 · 4 months CD |
| Against the national average | 2.97 percentage points above the 1.13% FDIC 3-month CD average (Sep 2026) |
| FDIC certificate | 16635 · Minneapolis, MN |
|---|---|
| Website | luminate.bank |
| Branches | 2 branches in MN |
| Availability | Available in MN |
Luminate Bank savings and CD rates
How the rate applies
How the rate applies
Rates are APY. The national savings average is 0.37% (FDIC, Sep 2026). The top tracked savings rate on Banksparency is 5.50%. Across 60 savings accounts from 59 banks in the Banksparency core savings index, the median advertised rate is 3.66%, and one account in ten advertises 4.02% or more. See the highest savings rates.
Luminate Bank CD rates
| Term | APY | Minimum | Product |
|---|---|---|---|
| 3 months | 3.55% | $500 | 3 Month Certificate |
| 4 months | 4.10% | $10,000 | 4 Month Certificate Special |
| 6 months | 3.60% | $500 | 6 Month Certificate |
| 9 months | 3.75% | $500 | 9 Month Certificate |
| 12 months | 4.00% | $500 | 12 Month Certificate |
| 18 months | 3.90% | $500 | 18 Month Certificate |
| 24 months | 3.80% | $500 | 24 Month Certificate |
| 30 months | 3.75% | $500 | 30 Month Certificate |
| 36 months | 3.80% | $500 | 36 Month Certificate |
| 48 months | 3.85% | $500 | 48 Month Certificate |
| 60 months | 3.90% | $500 | 60 Month Certificate |
Interactive Tool
Calculate Savings for Luminate Bank
All calculations are based on APY.
Savings Breakdown
- Interest Earned+$1,363.30(8.9%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,363.30
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
What Luminate Bank pays on deposits
FDIC call report data
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
The two figures answer different questions, so they sit side by side and are not combined.
In Q2 2026, Luminate Bank paid a higher average rate on savings and money market deposits than 96% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
- Luminate Bank, savings and money market
- All-bank median
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the banks that reported a figure for the quarter.
So what is the catch?
| Product | APY | Min to open | Min to earn | Balance cap | Monthly fee | Requirements | Rate type | 12-mo trend |
|---|---|---|---|---|---|---|---|---|
| Luminate Radiant Savings | 3.50% | not stated | $0 | None | not stated | not stated | One rate | |
| Luminate Brighter Savings | 3.00% | not stated | $0 | None | not stated | not stated | One rate | |
| Luminate Premier Market Savings | 2.75% | $1,000 | $0 | None | not stated | not stated | Tiered | |
| Luminate Market Savings | 1.00% | $1,000 | $0 | None | not stated | not stated | Tiered | |
| Spark Youth Savings | 0.50% | not stated | $0 | None | not stated | not stated | One rate | |
| Luminate Health Savings Account | 0.01% | $0 | $0 | None | not stated | not stated | One rate |
Rate type: one rate applies at every balance. A tiered rate changes with your balance. A promotional rate changes after the period shown. A balance cap is the largest balance the highest rate applies to.
The 12-month trend shows the highest advertised rate observed each day and includes promotional tiers where one applied.
CDs
| Product | Term | APY | Min to open | Early withdrawal fee | Compounding |
|---|---|---|---|---|---|
| 3 Month Certificate | 3 months | 3.55% | $500 | not stated | not stated |
| 4 Month Certificate Special | 4 months | 4.10% | $10,000 | not stated | not stated |
| 6 Month Certificate | 6 months | 3.60% | $500 | not stated | not stated |
| 9 Month Certificate | 9 months | 3.75% | $500 | not stated | not stated |
| 12 Month Certificate | 12 months | 4.00% | $500 | not stated | not stated |
| 18 Month Certificate | 18 months | 3.90% | $500 | not stated | not stated |
| 24 Month Certificate | 24 months | 3.80% | $500 | not stated | not stated |
| 30 Month Certificate | 30 months | 3.75% | $500 | not stated | not stated |
| 36 Month Certificate | 36 months | 3.80% | $500 | not stated | not stated |
| 48 Month Certificate | 48 months | 3.85% | $500 | not stated | not stated |
| 60 Month Certificate | 60 months | 3.90% | $500 | not stated | not stated |
Opening and using the account
| Availability | Available in MN |
|---|---|
| Footprint | 2 branches in MN |
| Eligibility | not stated |
How Luminate Bank behaves over time
Every observation of the advertised Luminate Radiant Savings rate in the last 12 months was 3.50% (observed through Sep 30, 2026). The series includes promotional tiers where one applied.
$10,000 at the 3.50% APY Luminate Bank advertises on Luminate Radiant Savings grows to $10,350 in a year. Prices rose 3.4% in the year to August 2026 (Consumer Price Index (CPI)). After a year of prices rising at that pace, it buys as much as $10,010 does today. See how the federal funds rate shapes savings rates.
Luminate Bank CD rates over time
Who is Luminate Bank?
| Headquarters | Minneapolis, MN |
|---|---|
| Founded | 1937 |
| Scale | $555M assets · $413M deposits, $405M of it interest-bearing (Q2 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 16635 |
| Charter state | Minnesota · one of 223 insured banks chartered there (Q2 2026, FDIC) |
| Size | 1,798th-largest by deposits of 4,238 insured banks (Q2 2026, FDIC) |
| Deposit growth | Higher than at 93% of 4,226 insured banks over the four quarters to Q2 2026 (FDIC) |
Financial detail is in What Luminate Bank pays on deposits above.
Common questions about Luminate Bank
Is Luminate Bank FDIC insured?
Yes. Luminate Bank is FDIC insured under certificate 16635, so deposits are covered up to $250,000 per depositor, per ownership category.
Does Luminate Bank have branches?
Yes. Luminate Bank operates 2 branches according to FDIC branch records, in addition to its website and mobile apps.
Luminate Bank against its closest alternatives
| Bank | Savings APY | Rate paid on savings and money market deposits (Q2 2026) | Min deposit | Branches |
|---|---|---|---|---|
| Luminate Bank | 3.50% | 3.23% | not stated | 2 branches in MN |
| Buckeye State Bank | 3.50% | 2.57% | $50 | 6 branches in OH |
| Institution for Savings in Newburyport and Its Vicinity | 3.50% | 2.11% | $100,000 | 13 branches in MA |
| Local Bank | 3.50% | 3.69% | $2,500 | 3 branches in AL |
Each savings APY is the top rate of the account the bank's own page leads with. Alternatives are the three tracked banks whose savings APY is closest to Luminate Bank's.
Similar banks and related pages
Banks in the same rate band with the same product mix:
Other banks chartered in Minnesota, nearest to Luminate Bank in deposits:
Rate hubs: today's highest savings rates, and CD rates by term.
State pages: banks in Minnesota.