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Best CD Rates (Updated!)

Written by Nickel - 20 Comments

Bank Deal: Earn 1.00% APY on an FDIC-insured savings account at Barclays.

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.

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
Synchrony Bank 1.25% $2,000
EverBank 1.10% $1,500
Ally Bank 1.05% $1
Bank of Internet 1.00% $1,000
Discover Bank 1.15% $2,500
HSBC – Online CD 0.95% $1,000
Citibank 0.15%* $500

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 5.25% and 8.57%. It’s free to open an account, and you can get started with as little as $25. Rate as of 7/31/2016.

*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 - 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!

Comments (scroll down to add your own):

  1. 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….

    Comment by Anonymous — Jul 15th 2009 @ 11:38 am
  2. 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.

    Comment by Anonymous — May 5th 2010 @ 8:07 pm
  3. 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.

    Comment by Anonymous — Jun 3rd 2010 @ 8:54 am
  4. 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?

    Comment by Anonymous — Sep 13th 2010 @ 7:39 pm
  5. 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.

    Comment by Anonymous — Nov 1st 2010 @ 3:10 pm
  6. 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.

    Comment by Anonymous — Dec 1st 2010 @ 11:39 am
  7. To Amber –

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

    Comment by Anonymous — Feb 5th 2011 @ 9:19 pm
  8. Go to 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.

    Comment by Anonymous — Feb 16th 2011 @ 1:04 am
  9. 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.

    Comment by Anonymous — Feb 17th 2011 @ 9:58 am
  10. 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.

    Comment by Anonymous — Feb 18th 2011 @ 11:41 pm
  11. 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.

    Comment by Anonymous — Feb 21st 2011 @ 2:53 pm
  12. I am seeking jumbo monthly CD rates in which yield 10-15%.I do know they exhist.Anybody with info please email me.


    Comment by Anonymous — Aug 27th 2011 @ 8:33 pm
  13. Man, it’s too bad CD rates suck so bad now. I used to love it, but now I’m investing my money elsewhere.


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