Best CD Rates (Updated!)
With online savings accounts interest rates falling lower by the minute, I decided to put together a list of the best certificate of deposit (CD) rates. Based upon my experiences and reader feedback, I’ve put together a list of the best / most popular cd rates (certificate of deposit rates) in my original post below. I’ll continue to update that list.
But you can also compare the highest cd rates in this table which displays the highest interest rates across 200+ banks. This table is updated daily.
| Institution | Type | Rate | APY | Min. To Earn APY | Details |
|---|---|---|---|---|---|
| Navy Federal Credit Union Rates as of Jun. 19th |
2.96% | 3.00% | $50 | Special Easy Start Certificate – $3,000 maximum balance – must have direct deposit of net pay – Navy FCU checking and monthly automatic deposit of at least $300 – See site for membership eligibility details. | |
| Northwest Savings Bank Rates as of Jun. 19th |
1.20% | $500 | Promotion CD – only available to existing Northwest Savings Bank customers, limited to local western New York market area | ||
| Farmers and Merchants National Bank Rates as of Jun. 19th |
0.20% | 1.20% | $1,000 | 12 Month CD | |
| Connexus Credit Union Rates as of Jun. 12th |
1.10% | $10,000 | Rate available with active checking account – membership is available nationwide – may become a member and open account online – contact credit union for details – credit union located in Wisconsin | ||
| First Mariner Bank Rates as of Jun. 19th |
0.99% | 1.00% | $500 | Not available to residents of NY, NV, or OR – apply online | |
| Doral Direct Rates as of Jun. 19th |
0.96% | 0.96% | $500 | 12-Month CD – Internet only bank – apply online or by mail – product available to all 50 states | |
| State Bank of India Rates as of Jun. 19th |
0.95% | $5,000 | |||
| EH National Bank Rates as of Jun. 19th |
0.95% | 0.95% | $10,000 | Personal CD – APY for balances under 100K | |
| Colorado Federal Savings Bank Rates as of Jun. 12th |
0.95% | 0.95% | $5,000 | Online CD | |
| OneWest Bank Rates as of Jun. 19th |
0.95% | 0.95% | $1,000 | Online CD | |
| Ally Bank Rates as of Jun. 19th |
0.94% | 0.94% | $1 | High-Yield CD – Apply online | |
| AloStar Bank of Commerce Rates as of Jun. 19th |
0.90% | $1,000 | APY for balances $1,000 – $49,999 – apply online | ||
| Nationwide Bank Rates as of Jun. 19th |
0.90% | $500 | CD Tier $0-$9,999 | ||
| Barclays Rates as of Jun. 12th |
0.90% | $0 | 12 Month Online CD | ||
| CIT Bank Rates as of Jun. 19th |
0.90% | $1,000 | Term CD – apply online | ||
| The National Republic Bank of Chicago Rates as of Jun. 19th |
0.90% | 0.90% | $1,000 | Online CD. | |
| Sallie Mae Bank Rates as of Jun. 19th |
0.90% | $2,500 | Nationwide – apply online | ||
| Biscayne Bank Rates as of Jun. 12th |
0.90% | $20,000 | 12 Month CD Time Deposit Account – APY for balances between $20,000 to $99,999 – Miami-Dade County, Florida market area only | ||
| Virtual Bank Rates as of Jun. 19th |
0.90% | 0.90% | $10,000 | eCD rates for online account only | |
| California First National Bank Rates as of Jun. 19th |
0.87% | 0.87% | $5,000 | ||
| Discover Bank Rates as of Jun. 19th |
0.85% | 0.85% | $2,500 | ||
| Melrose Credit Union Rates as of Jun. 19th |
0.85% | 0.85% | $5,000 | Share Certificate – contact Melrose CU for opening paperwork | |
| G E Capital Retail Bank Rates as of Jun. 19th |
0.85% | $2,000 | CD – APY for balances between $2,000 – $14,999 | ||
| OneWest Bank Rates as of Jun. 19th |
0.85% | 0.85% | $1,000 | Branch and Call Center CD Rates/Southern CA residents only | |
| E-Loan Rates as of Jun. 19th |
0.81% | 0.81% | $10,000 | ||
| First National Bank Rates as of Jun. 19th |
0.80% | 0.80% | $1,000 | 12 Month CD – Located in Oklahoma | |
| Ascencia Bank Rates as of Jun. 12th |
0.80% | 0.80% | $500 | ||
| Amboy Direct Rates as of Jun. 19th |
0.75% | 0.75% | $100 | eSavings CD – Earn 0.75% APY for 12 months if you maintain $10,000 balance, $100 to open | |
| Beal Bank Rates as of Jun. 12th |
0.71% | 0.71% | $1,000 | Must be opened online to get this rate. Rate may vary by location. Rate collected within: 94104 (CA) Beal Bank, SSB | |
| Beal Bank, USA Rates as of Jun. 12th |
0.71% | 0.71% | $1,000 | Rate may vary by location. Rate collected within: 94104 (CA) | |
| USAA Bank Rates as of Jun. 19th |
0.71% | $1,000 | Fixed Rate Standard CD Tier $1,000 – $94,999 – USAA Bank is a member based bank providing services to active and retired military personnel and their families. Most banking products are available to the general public. See website for details. | ||
| Mile High Banks Rates as of Jun. 19th |
0.65% | 0.65% | $1,000 | Available in Colorado Market area only | |
| Grand Bank Rates as of Jun. 19th |
0.65% | 0.65% | $1,000 | ||
| Transportation Alliance Bank Rates as of Jun. 19th |
0.65% | 0.65% | $1,000 | ||
| Wings Financial Credit Union Rates as of Jun. 12th |
0.65% | 0.65% | $500 | Quarterly APY, membership is limited to employees of the Air Transportation Industry, as well as those who live or work in select counties of the Minneapolis/St. Paul, MN, metro area | |
| Rhinebeck Savings Bank Rates as of Jun. 19th |
0.65% | 0.65% | $2,000 | APY on balances of $10,000 or more. | |
| First State Bank of Wyoming Rates as of Jun. 19th |
0.65% | 0.65% | $1,000 | 12 Month Relationship CD – requires a First State Bank of Wyoming checking account | |
| First Southern State Bank Rates as of Jun. 19th |
0.60% | 0.60% | $500 | 12 Month CD | |
| Brunswick State Bank Rates as of Jun. 12th |
0.60% | 0.60% | $1,000 | 12 Month CD – Limited to local Nebraska market area | |
| Black River Country Bank Rates as of Jun. 12th |
0.60% | 0.60% | $1,000 | ||
| Monument Bank Rates as of Jun. 19th |
0.60% | 0.60% | $500 | ||
| First City Bank (firstcitybank.com) Rates as of Jun. 19th |
0.60% | 0.60% | $1,000 | 12-17 Month CD – Located in Florida | |
| NewDominion Bank Rates as of Jun. 19th |
0.59% | 0.60% | $1,000 | ||
| Vist Financial Rates as of Jun. 19th |
0.60% | 0.60% | $500 | 12-24 month CD | |
| AmTrust Direct Rates as of Jun. 12th |
0.60% | 0.60% | $1,000 | ||
| Metropolitan National Bank Rates as of Jun. 19th |
0.60% | $1,000 | Rate/APY may vary by location | ||
| Quantum National Bank Rates as of Jun. 19th |
0.60% | 0.60% | $1,000 | Relationship CD – Limited to Georgia customers only | |
| EverBank Rates as of Jun. 19th |
0.60% | 0.60% | $1,500 | Yield Pledge CD | |
| Alliance Bank (alliancebank.us) Rates as of Jun. 19th |
0.57% | 0.57% | $500 | 12 Month CD – Located in Wisconsin | |
| American Express Rates as of Jun. 12th |
0.55% | $0 | Bank by phone or online only |
What follows is a list of the best CD rates at ten well-known, nationally-available banks. Rates are for 12 months CDs unless otherwise indicated, and I have also indicated the minimum deposit to open a CD.
Best CD Rates (12 Month Term)
(CD rates current as of 6/18/2013)
| Bank | CD APY | Minimum |
|---|---|---|
| EverBank Rate as of 6/18/2013 | 0.60% | $1,500 |
| Capital One 360 Rate as of 6/18/2013 | 0.40% | $1 |
| Ally Bank Rate as of 6/18/2013 | 0.94% | $1 |
| Bank of Internet Rate as of 6/18/2013 | 0.55% | $1,000 |
| Discover Bank Rate as of 6/18/2013 | 0.80% | $2,500 |
| HSBC – Online CD Rate as of 6/18/2013 | 0.01% | $1,000 |
| Citibank Rate as of 6/18/2013 | 0.20%* | $1,000 |
For the sake of comparison, check out my list of the best online savings account interest rates. Right now, there’s not a whole lot of difference. However, the CD rates listed here can be locked in such that they won’t drop over the next year. With savings accounts, things may well get worse before they get better.
Finally, if you’re looking for a higher yield and don’t mind taking on some additional risk, you might want to check out Lending Club. It’s not FDIC-insured, but average net annualized return for notes by grade A to C is between 5.47% and 10.27%. It’s free to open an account, and you can get started with as little as $25. Rate as of 6/18/2013
*Citibank Rate may vary by state, rate collected within CA.
Disclaimer: Discover is a paid advertiser of this site.
Reasonable efforts are made to maintain accurate information. See the Discover online credit card application for full terms and conditions on offers and rewards.
Modified on June 18th, 2013 - 18 Comments
Filed under: Banking, Saving & Investing
About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
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18 Responses to “Best CD Rates (Updated!)”
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July 15th, 2009 at 11:38 am
I didn’t look to see if one would be better over the other, but wouldn’t it make more sense to invest in the savings installment-type of savings account, such as what Wilshire Bank offers? I know there’s always the possibility of rates getting cut, but if you go with one year, like you mentioned in your post, the risk is low.
Just a thought….
May 5th, 2010 at 8:07 pm
I was shocked to see that American Express offer a 1.49%. I am going to try out for a year and see how the market is next year. Have you tried the Lending Club, it seems really good but it also seems very uncertain.
June 3rd, 2010 at 8:54 am
We’re definitely looking for ways to store our money at a better rate, now that our house is going to be paid off in a couple months. The money will start piling up once we’re no longer making a mortgage and extra principal payment every month. We have a pretty high savings rate right now – it’s one of those high rate checking accounts. But it maxes out at $30K; won’t pay interest on balances above that. We’ve already maxed out that account. But I had hopes that CD rates would be higher than the ones on here. Bummer.
September 13th, 2010 at 7:39 pm
I wonder why Sallie Mae Bank isnt listed as one of the best. Their CD rates seem to be better than most of, if not all of the rest. Is there a problem with this bank?
November 1st, 2010 at 3:10 pm
Has anyone tried the secured credit card offered by citibank? I was withdrawing some money to move to an Ally MM account @1.24%, and the banker suggested I try their secured credit card. It is supposedly set up for people with no credit to get credit, but it is tied to a CD that earns 4% over 18 months!!
How can this be possible? My only guess is that they will discover I have good credit and deny my account, but I’m going to try anyway.
December 1st, 2010 at 11:39 am
Just wanted to post an update to my above comment. I went ahead and applied for this card, sent my check in with the application (as instructed) and a couple weeks later, I am now the happy owner of a (useless) credit card that I never plan to use but also a $5,000 CD making 4% over 18 months. HAPPY ME. Downside: There is a $29 annual fee associated with the card (which of course, over 18 months, will be dinged 2x). Still – what I am making as compared to any regular CD seems ridiculous. The max you can invest is $5,000 at this time though.
February 5th, 2011 at 9:19 pm
To Amber -
After fees you’re only making about 1.5% annually.
February 16th, 2011 at 1:04 am
Go to checkingfinder.com and enter your zip code. The site will provide a list of credit unions and community banks which offer Rewards Checking Accounts. My RCA earns 4.01% interest up to $25k, requires no minimum, and has no monthly fee. I have one RCA in my name and one in my significant other’s name, so we get high interest on total of $50k if we choose this route. I leave $10k in each account because we get higher returns at Lending Club and in Vanguard and Schwab brokerage accounts.
To earn the high interest, we must accept online statements, make one ACH transaction (I pay my credit card bill) or have direct deposit, and make 10 debit transactions. I pay for canned veggies (59 cents each) or gum ten times. If I do not meet the requirements for that cycle, I earn only .25%. I find that an RCA is a great place to park money or an emergency fund.
I link my RCA to my Ally online accounts (savings account and Money Market.) THis way, I can use Ally to move funds between accounts in all my banks and brokerage firms.
February 17th, 2011 at 9:58 am
Re: Jay – I don’t follow your math.
A $5,000 CD early 4% interest over 18 months, even if compounded yearly (whereas Citibank claims they compound daily) will yield $303 interest. (Daily compound would yield $309). Deduct from the total the fee required that I mentioned for keeping this card ($29 annual, or $58 for the 18 months) and I still net $245. So yes, I see your point that the card fee deducts from the total interest, and that the actual final rate is closer to 3.25%. Still, if I were only earing 1.5% after fees, that would only yield $114. The satisfaction of the extra $130 is well worth the hassle it took to open this card, AND it is still earning more than any regular CD I could open today.
Re: Newly Frugal – thanks for the link – I checked it out but only found a max rate of 2% available from my zip code. Of course my state also doesn’t allow me to participate in Lending Club, so go figure.
February 18th, 2011 at 11:41 pm
Re: Amber – Hi Amber, my math was based off of what you said, “a $5,000 CD making 4% over 18 months.” . 4% of $5000 over 18 months = 11.11/month. 12(year) = $133.33 – $29(fee) you are left with $104.33 which comes to 2% annual return. I think I got 1.5% return because I accidently use $58 for the fee the first time.
I apologize for my mistake though, I took you literally when you said you’d get 4% over 18 months. Well done, and it’s a shame the limit was set at $5000.
February 21st, 2011 at 2:53 pm
Sorry Jay I see the confusion. 4.07% APY would have been a more exact way to say it, and the term is for 18 months. However, all of this discussion is moot, as I just checked their site and they have recently adjusted the rate down to the market rate of 1%. It was just a marketing error that was honored well past when it should have been adjusted.
August 27th, 2011 at 8:33 pm
I am seeking jumbo monthly CD rates in which yield 10-15%.I do know they exhist.Anybody with info please email me.
Thanks
December 2nd, 2012 at 3:22 pm
Man, it’s too bad CD rates suck so bad now. I used to love it, but now I’m investing my money elsewhere.
Sam
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