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Best CD Rates (Updated!)

Written by Nickel - 20 Comments

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 the table below which displays the highest interest rates across 200+ banks.

Type Rate APY Min. To Earn APY Details
Navy Federal Credit Union
Rates as of Apr. 23rd
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.
Doral Bank
Rates as of Apr. 23rd
1.20% $500 12 Month CD – Rates may vary based on location – Rate collected within: NY
Melrose Credit Union
Rates as of Apr. 23rd
1.15% 1.15% $5,000 Share Certificate – contact Melrose CU for opening paperwork – Must be a member
Amboy Direct
Rates as of Apr. 23rd
1.15% 1.15% $10,000 Anytime Access CD – Simple Interest $10,000 Minimum Opening Balance
Connexus Credit Union
Rates as of Apr. 23rd
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
Virtual Bank
Rates as of Apr. 23rd
1.06% 1.07% $10,000 eCD rates for online account only
ableBanking
Rates as of Apr. 23rd
1.05% $1,000
CIT Bank
Rates as of Apr. 23rd
1.05% $25,000 Achiever CD – Option to increase your rate and add additional funds once during CD term – apply online
AmTrust Direct
Rates as of Apr. 23rd
1.04% 1.05% $1,000 12 Month CD
GE Capital Bank
Rates as of Apr. 23rd
1.04% 1.05% $500 Open online- Maximum deposit amount $1,000,000
CIT Bank
Rates as of Apr. 23rd
1.02% $1,000 Term CD – Apply online
Beal Bank, USA
Rates as of Apr. 23rd
1.01% 1.01% $1,000 Rate may vary by location. Rate collected within: 94104 (CA)
Colorado Federal Savings Bank
Rates as of Apr. 23rd
1.00% 1.00% $5,000 Online CD
AloStar Bank of Commerce
Rates as of Apr. 23rd
1.00% $1,000 APY for balances $1,000 – $49,999 – apply online
Ally Bank
Rates as of Apr. 23rd
0.99% 0.99% $100 High-Yield CD – Apply online
California First National Bank
Rates as of Apr. 23rd
0.98% 0.98% $5,000
Discover Bank
Rates as of Apr. 23rd
0.95% 0.95% $2,500 12 Month CD
Doral Bank Direct
Rates as of Apr. 23rd
0.95% $500 12 Month CD – Online Bank – apply online or by mail – product available to all 50 states
Doral Direct
Rates as of Apr. 23rd
0.94% $500 12-Month CD – Internet only bank – apply online or by mail – product available to all 50 states
E-Loan
Rates as of Apr. 23rd
0.91% 0.91% $10,000
Nationwide Bank
Rates as of Apr. 23rd
0.91% $500 12 Month CD – for balances in Tier $0-$9,999
Sallie Mae Bank
Rates as of Apr. 23rd
0.90% $2,500 Nationwide – apply online
OneUnited Bank
Rates as of Apr. 23rd
0.90% 0.90% $1,000 UNITY Gold One Year E-CD – Tier $1,000 – $99,999.99 – Available Online only
OneWest Bank
Rates as of Apr. 23rd
0.90% 0.90% $1,000 Online CD
Grand Bank
Rates as of Apr. 23rd
0.85% 0.85% $1,000
First Internet Bank
Rates as of Apr. 23rd
0.85% 0.85% $1,000 12 month CD
The National Republic Bank of Chicago
Rates as of Apr. 23rd
0.85% 0.85% $1,000 Online CD.
Biscayne Bank
Rates as of Apr. 23rd
0.85% $20,000 12 Month CD Time Deposit Account – APY for balances between $20,000 to $99,999 – Miami-Dade County, Florida market area only
Barclays
Rates as of Apr. 23rd
0.80% 0.80% $0 12 Month Online CD
Pentagon Federal Credit Union
Rates as of Apr. 23rd
0.80% 0.80% $1,000 Money Market CD-membership is open to U.S. military
State Bank of India
Rates as of Apr. 23rd
0.80% $5,000 Certificate of Deposit Accounts, New York Branch
OneWest Bank
Rates as of Apr. 23rd
0.80% 0.80% $1,000 Branch and Call Center CD Rates/Southern CA residents only
EH National Bank
Rates as of Apr. 23rd
0.80% 0.80% $10,000 Personal CD – APY for balances under 100K
Giantbank
Rates as of Apr. 23rd
0.75% 0.75% $2,500 Giant Personal CD
USAA Bank
Rates as of Apr. 23rd
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.
Stonebridge Bank
Rates as of Apr. 23rd
0.70% $500 12 Month CD
Customers Bank
Rates as of Apr. 23rd
0.70% $500 12 Month CD – Apply online – Limited to Pennsylvania, New Jersey and New York market area
EverBank
Rates as of Apr. 23rd
0.70% 0.70% $1,500 Yield Pledge CD
CapitalSource Bank
Rates as of Apr. 9th
0.70% 0.70% $1,000 Classic CD – $1,000-9,999
Beal Bank
Rates as of Apr. 23rd
0.66% 0.66% $1,000 Must be opened online to get this rate. Rate may vary by location. Rate collected within: 94104 (CA) Beal Bank, SSB
Transportation Alliance Bank
Rates as of Apr. 23rd
0.65% 0.65% $1,000 12 Month CD
Wings Financial Credit Union
Rates as of Apr. 23rd
0.65% 0.65% $500 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
Pacific Mercantile Bank
Rates as of Apr. 23rd
0.65% 0.65% $10,000 12 month CD
Atlas Bank
Rates as of Apr. 23rd
0.65% 0.65% $2,500 Must open account in person – NY market area
Rhinebeck Savings Bank
Rates as of Apr. 23rd
0.60% 0.60% $2,000 APY on balances of $10,000 or more.
First Southern State Bank
Rates as of Apr. 23rd
0.60% 0.60% $500 12 Month CD
Community Bank (cbbristow.com)
Rates as of Apr. 23rd
0.60% 0.60% $2,500 Located in Bristow, OK
Warsaw Federal Savings and Loan
Rates as of Apr. 23rd
0.60% 0.60% $1,000
Black River Country Bank
Rates as of Apr. 23rd
0.60% 0.60% $1,000
Vist Financial
Rates as of Apr. 23rd
0.60% 0.60% $500 12-24 month CD

What follows is a list of the best CD rates at several 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 dates noted below)

Bank CD APY Minimum
EverBank Rate as of 4/22/2014 0.70% $1,500
Ally Bank Rate as of 4/22/2014 0.99% $1
Bank of Internet Rate as of 4/22/2014 0.55% $1,000
Discover Bank Rate as of 4/22/2014 0.95% $2,500
HSBC – Online CD Rate as of 4/22/2014 0.01% $1,000
Citibank Rate as of 4/22/2014 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 4.77% and 8.24%. It’s free to open an account, and you can get started with as little as $25. Rate as of 4/22/2014

*Citibank Rate may vary by state, rate collected within NY.

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.

Published on July 15th, 2009
Modified on April 23rd, 2014 - 20 Comments
Filed under: Banking, Saving & Investing

About the author: 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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20 Responses to “Best CD Rates (Updated!)”

  1. 1
    GaelicWench Says:

    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….

  2. 2
    no brainer Says:

    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.

  3. 3
    Carol Says:

    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.

  4. 4
    Isaac Says:

    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?

  5. 5
    Amber Says:

    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.

  6. 6
    Amber Says:

    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.

  7. 7
    Jay Says:

    To Amber -

    After fees you’re only making about 1.5% annually.

  8. 8
    Newlyfrugal Says:

    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.

  9. 9
    Amber Says:

    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.

  10. 10
    Jay Says:

    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.

  11. 11
    Amber Says:

    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.

  12. 12
    Vincent Peil Says:

    I am seeking jumbo monthly CD rates in which yield 10-15%.I do know they exhist.Anybody with info please email me.

    Thanks

  13. 13
    Financial Samurai Says:

    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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