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Fixed Income Pricing

At Schwab, there's no mystery about our pricing. It’s straightforward and simple to understand, and provides a great value.

Straightforward pricing that is disclosed before you buy a bond

  • $1-per-bond transaction fee on most secondary market bonds purchased online ($10 minimum/$250 maximum*)
  • Free online trading for Schwab Bond ETFs in your Schwab account1
  • Over 900 no-load, no-transaction-fee bond mutual funds2

 

Easily build your own bond ladder with our new online CD & Treasury Ladder Builder.

What does Schwab charge for fixed income investments?

INDIVIDUAL BONDS

  • Pricing
  • New Issues
  • Pricing

    $0*
  • Treasuries (new issues and secondary trades)
    Treasury bills, notes, bonds
    Treasury inflation-Protected Securities (TIPS)
  • Pricing

    $0
    Broker-assisted trades:
    $25
  • Secondary trades
    Corporate bonds
    Municipal bonds
    Government agencies
    Zero-coupon Treasuries (including STRIPS)
  • Pricing

    $1 per bond online
    $10 minimum, $250 maximum online**
    Broker-assisted trades:
    Online fee plus $25

Commercial paper, foreign bonds, asset-backed securities, mortgage-backed securities, and unit investment trusts are specialty products. Please contact us at 877-786-4074.

* For new-issue securities, a selling concession is included in the offering price.

** Schwab reserves the right to act as principal on any fixed income transaction, public offering or securities transaction. When Schwab acts as principal, the bond price includes our transaction fee (outlined above) and may also include a markup that reflects the bid-ask spread and is not subject to a minimum or maximum. When trading as principal, Schwab may also be holding the security in its own account prior to selling it to you and, therefore, may make (or lose) money depending on whether the price of the security has risen or fallen while Schwab has held it. When Schwab acts as agent, a commission will be charged on the transaction.

Individual bond details button

CERTIFICATES OF DEPOSIT (CDs)

  • Pricing
  • CDs
    $1,000 minimum required and $1,000 increments per investment
  • Pricing

    $0*
  • Secondary trades
  • Pricing

    $1 per CD online
    $10 minimum, $250 maximum online
    Broker-assisted trades:
    Online fee plus $25

* For new-issue securities, a selling concession is included in the offering price.

BOND FUNDS

  • Pricing
  • Funds in Mutual Fund OneSource® service
  • Pricing

    $0 transaction fee, no loads
    Broker-assisted trades:
    Online fee plus $25
  • Funds outside Mutual Fund OneSource® service
  • Pricing

    $49.95*
    Broker-assisted trades:
    additional $25

*Note: Per-trade transaction fees do not exceed 8.5% of principal, up to $49.95. Trades below $100 in principal are exempt from the transaction fee.

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BOND ETFs

  • Pricing
  • All ETFs, including Schwab ETFsTM, 1 
  • Pricing

    $0 commission
    Broker-assisted trades:
    $25 

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PREFERRED STOCKS/SECURITIES AND REITs

  • Pricing
  • Preferred stocks and REITs
  • Pricing

    $0 online1
    (Minimums may apply for secondary trades)

    $5 automated phone trades
    Broker-assisted trades:
    additional $25 

Talk to a specialist

Get assistance from over 100 Schwab Fixed Income Specialists, who draw on an average of over 21 years of experience.2

Call 877-906-4670.

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Looking to trade bonds or CDs online?
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Clients of independent investment advisors:
You may also contact your advisor or call Schwab Alliance at 800-515-2157