The Best CD Rates

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Featured 1-Year CDs

Member FDIC

Barclays

12 Month Online CD

APY

2.45%

Min to earn APY

None

APPLY NOW

on Barclays' secure site

Member FDIC

Synchrony Bank

12 Month CD

APY

2.45%

Min to earn APY

$2,000

APPLY NOW

on Synchrony Bank's secure site

Member FDIC

Synchrony Bank

12 Month CD

APY

2.45%

Min to earn APY

$2,000

APPLY NOW

on Synchrony Bank's secure site

Member FDIC

Ally Bank

High Yield 12-Month CD

APY

2.40%

Min to earn APY

$25,000

APPLY NOW

on Ally Bank's secure site

Member FDIC

Capital One

12 Month 360 CD

APY

2.40%

Min to earn APY

None

APPLY NOW

on Capital One's secure site

Member FDIC

Goldman Sachs Bank USA

High-yield 12 Month CD

APY

2.45%

Min to earn APY

$500

APPLY NOW

on Goldman Sachs Bank USA's secure site

Featured 18-Month CDs

Member FDIC

Ally Bank

High Yield 18-Month CD

APY

2.50%

Min to earn APY

$25,000

APPLY NOW

on Ally Bank's secure site

Member FDIC

Goldman Sachs Bank USA

High-yield 18 Month CD

APY

2.45%

Min to earn APY

$500

APPLY NOW

on Goldman Sachs Bank USA's secure site

Member FDIC

Goldman Sachs Bank USA

High-yield 18 Month CD

APY

2.45%

Min to earn APY

$500

APPLY NOW

on Goldman Sachs Bank USA's secure site

Featured 2-Year CDs

Member FDIC

Synchrony Bank

24 Month CD

APY

2.65%

Min to earn APY

$2,000

APPLY NOW

on Synchrony Bank's secure site

Member FDIC

Ally Bank

Raise Your Rate 2-Year CD

APY

2.50%

Min to earn APY

None

APPLY NOW

on Ally Bank's secure site

Member FDIC

Capital One

24 Month 360 CD

APY

2.50%

Min to earn APY

None

APPLY NOW

on Capital One's secure site

Member FDIC

Barclays

24 Month Online CD

APY

2.50%

Min to earn APY

None

APPLY NOW

on Barclays' secure site

Member FDIC

Goldman Sachs Bank USA

High-yield 2 Year CD

APY

2.50%

Min to earn APY

$500

APPLY NOW

on Goldman Sachs Bank USA's secure site

Featured 3-Year CDs

Member FDIC

Goldman Sachs Bank USA

High-yield 3 Year CD

APY

2.55%

Min to earn APY

$500

APPLY NOW

on Goldman Sachs Bank USA's secure site

Member FDIC

Ally Bank

High Yield 3 Year CD

APY

2.55%

Min to earn APY

$5,000

APPLY NOW

on Ally Bank's secure site

Member FDIC

Barclays

36 Month Online CD

APY

2.55%

Min to earn APY

None

APPLY NOW

on Barclays' secure site

Member FDIC

Ally Bank

High Yield 3 Year CD

APY

2.55%

Min to earn APY

$5,000

APPLY NOW

on Ally Bank's secure site

Featured 4-Year CDs

Member FDIC

Barclays

48 Month Online CD

APY

2.65%

Min to earn APY

None

APPLY NOW

on Barclays' secure site

Member FDIC

Goldman Sachs Bank USA

High-yield 4 Year CD

APY

2.60%

Min to earn APY

$500

APPLY NOW

on Goldman Sachs Bank USA's secure site

Featured 5-Year CDs

Member FDIC

Barclays

60 Month Online CD

APY

3.00%

Min to earn APY

None

APPLY NOW

on Barclays' secure site

Member FDIC

Synchrony Bank

60 Month CD

APY

3.00%

Min to earn APY

$2,000

APPLY NOW

on Synchrony Bank's secure site

Member FDIC

Goldman Sachs Bank USA

High-yield 5 Year CD

APY

3.00%

Min to earn APY

$500

APPLY NOW

on Goldman Sachs Bank USA's secure site

How we chose the best CD rates

In order to compare CD rates and provide you with the best rates available for varying terms, we used data from our subsidiary site DepositAccounts.com. We sorted CD products from three months all the way to five years by APY — annual percentage yield — and eliminated institutions with a health rating of B or lower. We also excluded credit unions with restrictive membership requirements.

From there, we chose the top two CDs with the highest APY in each term. If the top two CDs had the same APY, we broke the tie by looking at the minimum deposit amount, with the lower minimum deposit being deemed the better of the two. All products we included in this list are insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA)

3-Month CD Rates

State Bank of India

3 Month CD

APY

1.65%

Min to earn APY

$5,000

APPLY NOW

on State Bank of India's secure site

CD Bank

3 Month CD

APY

1.90%

Min to earn APY

$10,000

APPLY NOW

on CD Bank's secure site

6-Month CD Rates

MySavingsDirect

6 Month My Term CD

APY

2.15%

Min to earn APY

$1,000

APPLY NOW

on MySavingsDirect's secure site

Popular Direct

6 Month Popular Direct CD

APY

2.05%

Min to earn APY

$10,000

APPLY NOW

on Popular Direct's secure site

1-Year CD Rates

Connexus Credit Union

12 Month Certificate

APY

2.50%

Min to earn APY

$5,000

APPLY NOW

on Connexus Credit Union's secure site

State Bank of India

12 Month CD

APY

2.53%

Min to earn APY

$5,000

APPLY NOW

on State Bank of India's secure site

Banesco USA

18 Month CD

APY

2.50%

Min to earn APY

$1,500

APPLY NOW

on Banesco USA's secure site

2-Year CD Rates

Greenwood Credit Union

24 Month CD

APY

2.80%

Min to earn APY

$1,000

APPLY NOW

on Greenwood Credit Union's secure site

BankPurely

24 Month PurelyCD

APY

2.75%

Min to earn APY

$1,000

APPLY NOW

on BankPurely's secure site

4-Year CD Rates

Connexus Credit Union

42 Month Certificate

APY

3.00%

Min to earn APY

$5,000

APPLY NOW

on Connexus Credit Union's secure site

State Bank of India

4 Year CD

APY

3.03%

Min to earn APY

$5,000

APPLY NOW

on State Bank of India's secure site

5-Year CD Rates

Connexus Credit Union

60 Month Certificate

APY

3.25%

Min to earn APY

$5,000

APPLY NOW

on Connexus Credit Union's secure site

Mountain America Credit Union

5 Year Term Deposit

APY

3.25%

Min to earn APY

$500

APPLY NOW

on Mountain America Credit Union's secure site

10 Questions to Ask Yourself Before Choosing a CD

Before you decide to open an account and invest in CDs, here are 10 questions to ask yourself.

  • What is the minimum deposit?

    The amount you have to invest will certainly limit where you can invest and what rate you’ll receive. So this is something you’ll need to determine before you begin shopping around for CDs. Some of the most competitive rates are only available for larger-deposit amounts ($5,000 to $25,000). If you don’t have that kind of money to invest, there’s no sense in considering those CDs. However, competitive rates can still be found at some banks and credit unions with a minimum deposit of $500 to $1,000.

  • Are there any fees?

    Most of the banks mentioned on this page offer CDs with no fees for creation or maintenance of the CD. However, this may not be the case with all the banks and credit unions, so be sure to ask.

  • Is there a penalty for early withdrawal?

    In most cases, the answer to this is going to be yes. But with some banks and credit unions, the penalty is apt to be steeper than others. In some cases, you may end up paying more for an early withdrawal than the interest you’ve earned. Keep this in mind if there’s a chance you may need the money before your investment comes to maturity, and talk to your financial institution to get an idea of exactly what you’ll pay as a penalty for taking your money out before full maturity.

  • How do I decide on the best CD term for me?

    You’ll receive higher interest rates on longer-term CDs. If you know you won’t need access to the money, a five-year term may be a good option. If there’s a chance you’ll need it sooner, you don’t want to have to pay the early-withdrawal penalty, so choose a shorter term. If there’s a chance interest rates may go up significantly, you may also want to choose a shorter term, so you may reinvest when the potential for returns improves. Some financial institutions offer a step-up option that allows you to reinvest if rates go up. You may also consider staggering your investments, or laddering them, as our subsidiary MagnifyMoney explains.

  • What happens to the money in my CD after it matures?

    When your CD matures, you may need to request the money from your financial institution. Some banks automatically renew your CD, but not all do. In some cases, if you forget to request your money past the grace period, you may incur fees. Other banks or credit unions may offer you the option to extend your CD at the same rate. This can be an advantage if rates fall, so be sure to ask about your options.

  • Is my money secure?

    Investments with banks and credit unions are usually insured, either through the FDIC or the NCUA. Make sure that whatever financial institution you choose offers secured investments that are guaranteed by one of these organizations. Typically, insurance is offered up to $250,000.

  • Is interest compounded daily?

    Interest that is compounded daily will result in more money earned over the term of the investment. When you look at CD rates, most financial institutions will offer two numbers, an annual percentage rate (APR) and an annual percentage yield (APY). APR doesn’t consider compounding, while APY takes it into account. A higher APY is to your advantage, so be sure to ask if interest is compounded daily and get the APY for comparison.

  • Is it better to open a CD with my current banker or establish an account with a new institution?

    Banks and credit unions want your business and your money. The most competitive CD rates are available to new accounts as an enticement to invest your money with a new financial institution. Use this to your benefit. If you really like your current bank, shop CD rates, then find out if it will match those rates to keep your business.

  • Should I shop around for the best CD rates?

    Yes. Banks and credit unions often run special incentives for new accounts, with higher-than-usual rates, to entice new business. Take advantage of these offers by shopping around and doing your research before committing to a CD.

  • Are current interest rates good?

    CD interest rates fluctuate, so the answer to this question is subject to change. The Federal Reserve has continued to increase rates in 2018, with some of the best rates available right now from Internet-only banks, as opposed to traditional lenders. If you’d like to take advantage of increasing rates, consider products like adjustable-rate, step-up or liquid CDs. Laddering your investments may also be right for you.