Those who are looking for the highest interest rates may want to consider opening a Certificate of Deposit (CD) account. Certificate of Deposit accounts often pay a much higher interest rate than a standard savings account. Unfortunately, enjoying higher interest rates does come with a cost.
Many CD accounts restrict access to your funds during the CD terms, often between 3 months to 5 years. If you take your money out before the end of the CD term (also known as the maturity date), you’ll often pay a penalty, perhaps even forfeiting a part of the interest you’ve earned. Though, this depends on the bank’s policy.
The best thing about a CD account is that they are low maintenance. Just store your money into an account, and your rate is generally locked in for the period of time you choose. Then, watch your interest grow.
You must keep up with when your CD matures because most banks will automatically renew the CD at the end of the term. Make sure to create a reminder. You’ll only have a short period of time to cancel your account after the term is over.
If you’re worried about the safety of keeping your money in an account for too long, don’t worry. CD accounts are insured, up to $250,000 per account. For banks, they’re FDIC insured and for credit unions, they’re NCUA insured.
Choosing a Term Length
Banks offer a variety of CD term lengths for you to choose from. They can go from as short as 30 days to as long as 10 years. However, most banks offer standard term lengths from 6 months to 5 years. Choosing the appropriate amount of time to store your money is up to you to decide.
First, you must determine what minimum balance requirement you’re able to meet. Banks generally have a minimum balance required to earn the listed Annual Percentage Yield (APY). For example, if you plan on depositing $500, you’ll qualify for every CD account that has no minimum balance requirement to those with a $500 requirement.
Then, choose your CD term. Usually, the longer your CD term is, the higher rates you’ll earn because banks like it when you keep your money with them. Though, this isn’t always the case. Some banks offer special rates for a limited time. For example, you may earn a better rate with a 12-month term as opposed to a 5-year term.
No matter what term length you choose, make sure you won’t need access to for the entire CD term to take advantage of the best CD rates. Otherwise, if you withdraw your funds early, you’ll incur an early withdrawal fee.
Finding the Best CD Accounts
Not all banks will offer you the best CD rates for your money. In fact, many traditional brick-and-mortar banks and popular name-brand banks will offer you the worst rates. With all the overhead costs they have to pay for, it’s difficult for them to offer customers competitive rates. Therefore, you can generally find the best rates from Credit Unions and Online Banks.
Below, we have compiled you a list of the best national and state/local CD rates for 6-month, 9-month, 1 year, 18-month, 2-year, 3-year, 4-year, and 5-year CD accounts! Our exclusive list has the most up-to-date and best national CD rates you will find on the web!
 Synchrony Bank is offering one of the best competitive rates for their various CD terms. Synchrony Bank offers 3-Month CDs to 60-Months CDs from 0.75% APY to an impressive 3.10% APY! The minimum deposit to open an of the CD accounts is $2,000. Hurry and take advantage of these great CDs rates today! Apply Now--- Synchrony Bank CD Review |
 CIT Bank is offering a competitive rate of 2.50% APY on a 12-Month CD term . To sign up with CIT Bank, you are only required to be at least 18 years old and be a U.S. citizen. In addition, be sure to have a check or bank account number to electronically transfer money into your new CD account. With a wide range of CD lengths, you get to choose which account fits you the best! If you are interested, then head over and sign up for a CD account to start earning! Sign Up Now--- CIT Bank CD Review |
 Discover Bank CD: Provides you a choices with the length of your CDs ranging from 3 months to 10 years. With 3 months you get to enjoy a 0.35% APY and if you choose the 10 year term you can enjoy 2.60% APY. Discover Bank provides you the best service and keeps you in mind, so sign up today for their Certificate of Deposit account! Apply Now---Discover Bank CD Review |
 Barclays is offering rates from 0.35% APY on 3-Month CD to 3.00% on 60-Month CD. The wide variety of CD lengths allows you to be in total control of your banking experience with Barclays, while also being able to enjoy great features such as no minimum balance at opening, interest that compounds daily, as well as no hidden fees whatsoever! Apply Now---Barclays CD Review |
Editor’s Note: Rates are subject to change. Feel free to leave us a comment if you see any rates changed in any of the links below.
Looking for a specific term? See below for our list of the best CD rates in the following terms:
- Best 6-Month CD Rates
- Best 9-Month CD Rates
- Best 1-Year CD Rates
- Best 18-Month CD Rates
- Best 2-Year CD Rates
- Best 3-Year CD Rates
- Best 4-Year CD Rates
- Best 5-Year CD Rates
| Best CD Accounts | ||||
|---|---|---|---|---|
| Account | Minimum | APY | ||
 | Discover Bank 12-Month CD Account | $2,500 | 2.40% | |
 | CIT Bank 11-Month No-Penalty CD Account | $1,000 | 2.05% | |
 | BBVA 36-Month CD Account | $500 | 2.25% |
Best 6-Month CD Rates – Nationwide
| Bank | APY | Min | Max | Account Name | Review |
|---|---|---|---|---|---|
| VSECU | 3.00% | $500 | --- | 6-Month CD | Review |
| Advancial Federal Credit Union | 2.76% | $50K | --- | 6-Month CD | Review |
| MutualOne Bank | 2.53% | $500 min | --- | 7-Month CD | Review |
| WebBank | 2.46% | $2.5K | --- | 6-Month CD | Review |
| Live Oak Bank | 2.45% | $2.5K | --- | 6-Month CD | Review |
| Dollar Savings Direct | 2.40% | $1K | --- | 6-Month CD | Review |
| EmigrantDirect | 2.40% | $1K | --- | 6-Month CD | Review |
| MySavingsDirect | 2.40% | $1K | --- | 6-Month CD | Review |
| Communitywide FCU | 2.40% | $2k | --- | 6-Month CD | Review |
| First Internet Bank | 2.39% | $1K | --- | 6-Month CD | Review |
Best 6-Month CD Rates – State/Local
| Bank | State(s) | APY | Min | Max | Account Name | Review |
|---|---|---|---|---|---|---|
| Bankers Trust | AZ, IA | 2.75% | $1K | --- | 7-Month CD | Review |
| Advantage Federal Credit Union | NY | 2.50% | $500 | --- | 5-Month CD | Review |
| America First Credit Union | AZ, ID, NV, OR, UT | 2.50% | $500 | $1M | 6-11-Month CD | Review |
| Wasatch Peaks Credit Union | UT | 2.50% | $500 | --- | 6-Month CD | Review |
| Sunstate Bank | FL | 2.50% | $2.5K | $1M | 7-Month CD | Review |
| Belmont Savings Bank | MA, NH | 2.40% | $500 | $1M | 6-Month CD | Review |
| State Bank of India (IL) | IL | 2.27% | $2.5K | --- | 6-Month CD | Review |
| Washington Federal Bank | AZ, ID, NM, NV, OR, TX, UT, WA | 2.20% | $1K | --- | 7-Month CD | Review |
| Atlantic Federal Credit Union | NJ | 2.15% | $500 | --- | 7-Month CD | Review |
Best 9-Month CD Rates – Nationwide
| Bank | APY | Min | Max | Account Name | Review |
|---|---|---|---|---|---|
| Andrews Federal Credit Union | 2.86% | $1K | --- | 8-Month CD | Review |
| NBKC | 2.85% | $10K | --- | 10-Month CD | Review |
| Service Credit Union | 2.50% | $1K | --- | 9-Month CD | Review |
| TIAA Bank | 2.50% | $5K | --- | 9-Month CD | Review |
| Vio Bank | 2.45% | $500 | --- | 9-Month CD | Review |
| VirtualBank | 2.45% | $10K | --- | 9-Month CD | Review |
| CD Bank | 2.45% | $10K | --- | 9-Month CD | Review |
| Fidelity | 2.40% | $1K | --- | 9-Month CD | Review |
| The Vanguard Group | 2.40% | $10K | --- | 9-Month Non-Callable CD | Review |
Best 9-Month CD Rates – State/Local
| Bank | State(s) | APY | Min | Max | Account Name | Review |
|---|---|---|---|---|---|---|
| Evergreen Bank Group | IL | 2.60% | $10K | --- | 9-Month CD | Review |
| First Peoples Community Federal Credit Union | MD, PA, WV | 2.60% | $500 | --- | 9-Month CD | Review |
| Family First Federal Credit Union | NY | 2.55% | $500 | --- | 8-Month CD | Review |
| America First Credit Union | AZ, ID, NV, OR, UT | 2.50% | $500 | --- | 6-11 Month CD | Review |
| Kellogg Community Credit Union | MI | 2.50% | $500 | --- | 9-Month CD | Review |
| PathFinder Bank | NY | 2.50% | $1k | --- | 9-Month CD | Review |
| Providence Bank | IL, MO | 2.50% | $2.5K | --- | 9-Month CD | Review |
| Westbury Bank | WI | 2.30% | $500 | --- | 9-Month CD | Review |
| Members Choice Credit Union | TX | 2.20% | $50K | --- | 9-Month CD | Review |
| Bogota Savings Bank | NJ | 2.20% | $1K | --- | 8-Month CD | Review |
Best 1-Year CD Rates – Nationwide
| Bank | APY | Min | Max | Account Name | Review |
|---|---|---|---|---|---|
| CD Bank | 3.00% | $10k | --- | 12-Month CD | Review |
| State Bank of India Illinois | 2.89% | $2.5k | --- | 12-Month CD | Review |
| State Bank of India | 2.88% | $25K | --- | 12-Month CD | Review |
| Merrick Bank | 2.87% | $25K | --- | 12-Month CD | Review |
| Comenity Direct | 2.86% | $1.5k | --- | 12-Month CD | Review |
| Rising Bank | 2.85% | $1K | $500K | 12-Month CD | Review |
| Limelight Bank | 2.85% | $1K | --- | 12-Month CD | Review |
| Quontic Bank | 2.85% | $1K | --- | 12-Month CD | Review |
| Banesco | 2.85% | $1.5K | $250k | 12-Month CD | Review |
| NBKC | 2.85% | $10k | --- | 10-Month CD | Review |
| TotalDirectBank | 2.82% | $25k | --- | 12-Month CD | Review |
| Colorado Federal Savings Bank | 2.80% | $5k | --- | 12-Month CD | Review |
| PurePoint Financial | 2.75% | $10K | --- | 12-Month CD | Review |
| BankUnitedDirect | 2.60% | $1k | --- | 12-Month CD | Review |
Best 1-Year CD Rates – State/Local
| Bank/Credit Union | State(s) | APY | Min | Max | Account Name | Review |
|---|---|---|---|---|---|---|
| Granite Federal Credit Union | UT | 3.05% | $500 | --- | 11-Month CD | Review |
| Cyprus Credit Union | UT | 3.05% | $500 | --- | 13-Month CD | Review |
| Prince George's Community Federal Credit Union | MD | 3.04% | $1k | --- | 13-Month CD | Review |
| Town & Country FCU | ME | 3.04% | $500 | --- | 12-Month CD | Review |
| Red Rocks Credit Union | CO | 3.00% | $1k | --- | 12-Month CD | Review |
| PathFinder Bank | NY | 3.00% | $1K | --- | 11-Month CD | Review |
| Jefferson Financial Credit Union | AL, LA | 2.96% | $10K | --- | 12-Month CD | Review |
| University Federal Credit Union | UT | 2.95% | $500 | --- | 12-Month CD | Review |
| Rhinebeck Bank | NY | 2.95% | $10K | --- | 14-Month CD | Review |
| Cross River Bank | NJ | 2.90% | $500 | --- | 12-Month CD | Review |
| Linn Area Credit Union | IA | 2.85% | $1,000 | --- | 12-Month CD | Review |
Best 18-Month CD Rates – Nationwide
| Bank | APY | Min | Max | Account Name | Review |
|---|---|---|---|---|---|
| CD Bank | 3.10% | $10k | --- | 18-Month CD | Review |
| Security Bank | 3.02% | $2k | --- | 18-Month CD | Review |
| Hanscom Federal Credit Union | 3.00% | $1K | --- | 19-Month CD | Review |
| Andrews Federal Credit Union | 2.95% | $1K | --- | 17-Month CD | Review |
| Limelight Bank | 2.95% | $1K | --- | 18-Month CD | Review |
| State Bank of India Illinois | 2.89% | $2.5K | --- | 15-Month CD | Review |
| First Internet Bank | 2.88% | $1K | --- | 18-Month CD | Review |
| Advancial | 2.86% | $50k | --- | 18-Month CD | Review |
| Veridian Credit Union | 2.85% | $1K | --- | 18-Month CD | Review |
| Rising Bank | 2.85% | $25K | --- | 18-Month CD | Review |
Best 18-Month CD Rates – State/Local
| Bank | State(s) | APY | Min | Max | Account Name | Review |
|---|---|---|---|---|---|---|
| Royal Credit Union | MN, WI | 3.04% | --- | --- | 18-Month CD | Review |
| 1st Nor Cal Credit Union | CA | 3.04% | --- | --- | 20-Month CD | Review |
| Bank of Franklin County | MO | 3.04% | $50K | --- | 20-Month CD | Review |
| STCU | ID, WA | 3.04% | $500 | --- | 20-Month CD | Review |
| Members First Credit Union | MI | 3.01% | $1,000 | --- | 15-Month CD | Review |
| FORUM Credit Union | IN | 3.00% | $500 | --- | 18-Month CD | Review |
| Community 1st Credit Union | IA, MO | 3.00% | $1,000 | --- | 18-Month CD | Review |
| Homeland Credit Union | OH | 3.00% | $75K | --- | 18-Month CD | Review |
| Kellogg Community Credit Union | MI | 3.00% | $500 | --- | 19-Month CD | Review |
| Cornerstone Financial Credit Union | TN | 3.00% | $500 | --- | 19-Month CD | Review |
| Sooper Credit Union | CO | 3.00% | $500 | --- | 20-Month CD | Review |
Best 2-Year CD Rates – Nationwide
| Bank/Credit Union | APY | Min | Max | Account Name | Review |
|---|---|---|---|---|---|
| US Postal Service FCU | 3.25% | $10K | --- | 24-Month CD | Review |
| CD Bank | 3.20% | $10K | --- | 24-Month CD | Review |
| Community Financial Services Bank | 3.19% | $1K | --- | 29-Month CD | Review |
| State Bank of India | 3.09% | $25K | --- | 2-Year Senior Citizen CD | Review |
| Georgia Banking Company | 2.95% | $500 | --- | 2-Year CD | Review |
| Rising Bank | 2.95% | $1K | --- | 2-Year CD | Review |
| Colorado Federal Savings Bank | 2.95% | $5K | --- | 2-Year CD | Review |
| Quontic Bank | 2.90% | $1K | --- | 24-Month CD | Review |
| First Internet Bank | 2.88% | $1K | --- | 24-Month CD | Review |
Best 2-Year CD Rates – State/Local
| Bank/Credit Union | State(s) | APY | Min | Max | Account Name | Review |
|---|---|---|---|---|---|---|
| Dort Federal Credit Union | MI | 4.00% | $50K | --- | 25-Month CD | Review |
| Red Rocks Credit Union | CO | 3.30% | $5K | --- | 24-Month CD | Review |
| Jefferson Financial Credit Union | AL, LA | 3.26% | $10k | --- | 24-Month CD | Review |
| Hudson Valley Federal Credit Union | NY | 3.25% | $500 | --- | 24-Month Flex CD | Review |
| Suncoast Credit Union | FL | 3.25% | $100K | --- | 24-Month Jumbo CD | Review |
| Community Financial Service Bank | IN, IL, KY, MO, TN | 3.19% | $1K | --- | 29-Month CD | Review |
| Kellogg Community Credit Union | MI | 3.15% | $500 | --- | 29-Month CD | Review |
| Wright-Patt Credit Union | OH | 3.14% | $100K | --- | 27-Month CD | Review |
| Brightstar Credit Union | FL | 3.10% | $500 | --- | 23-Month CD | Review |
| Teachers Credit Union | ID, MI | 3.09% | $1,000 | --- | 25-Month CD | Review |
| STCU | ID, WA | 3.04% | $500 | --- | 20-Month CD | Review |
Best 3-Year CD Rates – Nationwide
| Bank/Credit Union | APY | Min | Max | Account Name | Review |
|---|---|---|---|---|---|
| Veridian Credit Union | 3.15% | $100K | --- | 41-Month Jumbo CD | Review |
| State Bank of India | 3.14% | $2.5K | --- | 36-Month Senior Citizens CD | Review |
| State Bank of India | 3.14% | $25K | --- | 3-Year CD | Review |
| University Federal Credit Union | 3.14% | $1K | --- | 36-Month CD | Review |
| State Bank of India | 3.09% | $2.5K | --- | 36-Month CD | Review |
| GTE Financial | 3.09% | $100K | --- | 36-Month Jumbo CD | Review |
| Comenity Direct | 3.05% | $1.5K | --- | 36-Month CD | Review |
| Veridian Credit Union | 3.05% | $1K | --- | 41-Month CD | Review |
| First National Bank of America | 3.05% | $1K | --- | 36-47 Month CD | Review |
| West End Bank | 3.00% | $500 | --- | 33-Month CD | Review |
Best 3-Year CD Rates – State/Local
| Bank/Credit Union | State(s) | APY | Min | Max | Account Name | Review |
|---|---|---|---|---|---|---|
| Arbor Financial Credit Union | MI | 3.65% | $250k | --- | 34-Month BOOST CD | Review |
| Money One Federal Credit Union | MD, VA | 3.60% | $25 | $250K | 36-Month CD | Review |
| Unitus Community Credit Union | OR, WA | 3.50% | $500 | --- | 36-Month CD | Review |
| AEA Federal Credit Union | AZ | 3.50% | $1,000 | --- | 35-Month CD | Review |
| EFCU | LA | 3.50% | $100K | --- | 36-Month Jumbo CD | Review |
| Jefferson Financial Credit Union | AL, LA | 3.40% | $100K | --- | 36-Month CD | Review |
| Red Rocks Credit Union | CO | 3.35% | $5K | --- | 36-Month CD | Review |
| Navy Army Community Credit Union | TX | 3.33% | $1K | --- | 30-Month CD | Review |
| Neighbors Federal Credit Union | LA | 3.30% | $1.5K | --- | 36-Month CD | Review |
Best 4-Year CD Rates – Nationwide
| Bank/Credit Union | APY | Min | Max | Account Name | Review |
|---|---|---|---|---|---|
| State Department Federal Credit Union | 3.24% | $500 | --- | 48-Month IRA | Review |
| State Bank of India | 3.24% | $25K | --- | 4-Year Senior Citizen CD | Review |
| University Federal Credit Union | 3.21% | $500 | --- | 48-Month CD | Review |
| First National Bank of America | 3.20% | $1K | --- | 48-59 Month CD | Review |
| Connexus Credit Union | 3.20% | $5K | --- | 42-Month CD | Review |
| GTE Financial | 3.20% | $100k | --- | 48-Month Jumbo CD | Review |
| MainStreet Bank | 3.15% | $500 | --- | 48-Month CD | Review |
| University Federal Credit Union | 3.14% | $100K | --- | 48-Month Jumbo CD | Review |
| Georgia Banking Company | 3.10% | $500 | --- | 48-Month CD | Review |
Best 4-Year CD Rates – State/Local
| Bank/Credit Union | State(s) | APY | Min | Max | Account Name | Review |
|---|---|---|---|---|---|---|
| Front Wave Credit Union | CA | 4.00% | $1,000 | --- | 48-Month CD | Review |
| EFCU Financial | LA | 3.60% | $100K | --- | 48-Month Jumbo CD | Review |
| EFCU Financial | LA | 3.50% | $500 | --- | 48-Month IRA | Review |
| EFCU Financial | LA | 3.50% | $100K | --- | 48-Month CD | Review |
| EFCU Financial | LA | 3.40% | $500 | --- | 48-Month CD | Review |
| Jefferson Financial Credit Union | LA | 3.45% | $100K | --- | 4-Year CD | Review |
| Community Financial Services Bank | IN, IL, KY, MO, TN | 3.39% | $1k | --- | 49-Month | Review |
| Neighbors Federal Credit Union | LA | 3.30% | $1.5k | --- | 48-Month CD | Review |
| Lewis Clark Credit Union | ID, WA | 3.26% | $0 | --- | 48-Month CD | Review |
Best 5-Year CD Rates – Nationwide
| Bank/Credit Union | APY | Min | Max | Account Name | Review |
|---|---|---|---|---|---|
| Connexus Credit Union | 3.40% | $5K | --- | 60-Month CD | Review |
| State Department Federal Credit Union | 3.39% | $500 | --- | 60-Month CD | Review |
| First National Bank of America | 3.35% | $1k | --- | 60-Month CD | Review |
| State Bank of India IL | 3.35% | $2.5K | --- | 5-Year Senior Citizen CD | Review |
| State Bank of India NY | 3.34% | $25k | --- | 5-Year Term Deposit | Review |
| GTE Financial | 3.30% | $100k | --- | 60-Month Jumbo CD | Review |
| INOVA Federal Credit Union | 3.25% | $200 | --- | 60-Month IRA | Review |
| Affinity Plus Federal Credit Union | 3.25% | $500 | --- | 60-Month CD | Review |
| Main Street Bank | 3.25% | $500 | --- | 60-Month CD | Review |
| Superior Choice Credit Union | 3.25% | $10k | --- | 60-Month CD | Review |
Best 5-Year CD Rates – State/Local
| Bank/Credit Union | State(s) | APY | Min | Max | Account Name | Review |
|---|---|---|---|---|---|---|
| EFCU Financial | LA | 3.70% | $100k | --- | 60-Month IRA | Review |
| Jefferson Financial Federal Credit Union | LA | 3.61% | $100k | --- | 5-Year CD | Review |
| Bank of Utica | NY | 3.50% | $500 | --- | 5-Year CD | Review |
| LAFCU | MI | 3.50% | $10k | --- | 5-Year CD | Review |
| Suncoast Credit Union | FL | 3.50% | $100k | --- | 60-Month CD | Review |
| Glass City Federal Credit Union | OH | 3.50% | $500 | --- | 60-Month CD | Review |
| Financial One Credit Union | MN | 3.45% | $1K | --- | 58-Month CD | Review |
| Neighbors Federal Credit Union | LA | 3.45% | $1.5K | --- | 60-Month CD | Review |
| UNICO Bank | AR, MO | 3.45% | $1,000 | --- | 60-Month CD | Review |
| Lewis Clark Credit Union | ID, WA | 3.35% | $0 | --- | 60-Month CD | Review |
| P1FCU | ID, MT, OR, WA | 3.35% | $500 | --- | 60-Month CD | Review |
Other Bank Promotions You May Enjoy
Looking for other accounts banks offer? Check out our list of the best bank bonuses we’ve compiled, here on BankCheckingSavings. You can also find some of our helpful guides listed on there if you need any additional information. Plus, if you’re interested in applying for a credit card, see our list of the best credit card promotions and their respective reviews to find the best one that suits your needs!
