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Best 5-Year CD Rates of June 2024

Review Updated
Steven Porrello
By: Steven Porrello

Our Banking Expert

Ashley Maready
Check IconFact Checked Ashley Maready
Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

Five-year CD rates allow you to earn a guaranteed interest rate long term. While shorter CDs in 2024 have higher APYs and offer more flexibility, 5-year CDs could let you ride out today's high interest rates for a potentially longer period.

Here are some of the best 5-year CDs we've found.

  • We pride ourselves on being able to confidently say that these CDs are chosen by personal finance experts that operate independently of our Partnerships team, meaning the picks on this page are not and never have been influenced by advertising deals.

    Our Ratings team:

Our picks for the best 5-year CDs

Barclays Online CD
Bottom Line

Barclays offers competitive rates on most common CD terms with no minimum balance requirements. There are no monthly fees, so you likely won't lose money unless you try to withdraw your funds early. Those interested in building longer-term CD ladders will find plenty to like here.

Minimum Deposit $0

6 Mo. APY 1 Yr. APY 1.5 Yr. APY 2 Yr. APY 3 Yr. APY 4 Yr. APY 5 Yr. APY
4.85% 5.00% 4.50% 4.00% 3.50% 3.50% 3.75%
APY = Annual Percentage Yield
Discover® Bank CD
Bottom Line

Discover has a higher minimum balance requirement than some of its competitors, but its rates are competitive and you don't have to worry about getting hit with any fees unless you withdraw funds via wire transfer or choose to withdraw from your CD before it reaches its maturity date. It also offers some unique term lengths, including CDs as short as three months and as long as 10 years.

Minimum Deposit $2,500

3 Mo. APY 6 Mo. APY 9 Mo. APY 1 Yr. APY 1.5 Yr. APY 2 Yr. APY 30 Mo. APY 3 Yr. APY 4 Yr. APY 5 Yr. APY 7 Yr. APY 10 Yr. APY
2.00% 4.25% 4.25% 4.70% 4.40% 4.00% 3.75% 3.75% 3.75% 3.75% 3.75% 3.75%
APY = Annual Percentage Yield
Quontic CD
Bottom Line

Quontic Bank offers CDs with terms ranging from six months to five years. It offers most of the terms one would expect, though it is missing a four-year CD, so it may not be ideal for those hoping to build a CD ladder. Its rates are competitive, especially on its longer term CDs, and its minimum deposit is more affordable than what you see with some other top banks.

Minimum Deposit $500

6 Mo. APY 1 Yr. APY 2 Yr. APY 3 Yr. APY 5 Yr. APY
5.05% 4.50% 4.50% 4.40% 4.30%
APY = Annual Percentage Yield
LendingClub CD
Bottom Line

LendingClub CDs don't skimp on interest, offering competitive APYs for all six of their CD terms, from six months to five years. They're also FDIC insured. One downside is that you'll need to commit at least $2,500 to open an account.

Minimum Deposit $2,500

6 Mo. APY 1 Yr. APY 1.5 Yr. APY 2 Yr. APY 3 Yr. APY 5 Yr. APY
5.00% 5.15% 5.00% 4.50% 4.30% 4.00%
APY = Annual Percentage Yield
Synchrony Online CD
Bottom Line

Perhaps one of the lesser-known names on the list, Synchrony is a full-line bank with a 90-year history. Synchrony's CDs are notable for competitive rates at most term lengths, plus low or no minimum deposits.

Minimum Deposit $0

6 Mo. APY 9 Mo. APY 1 Yr. APY 1.5 Yr. APY 2 Yr. APY 3 Yr. APY 4 Yr. APY 5 Yr. APY
4.80% 5.10% 4.80% 4.50% 4.20% 4.15% 4.00% 4.00%
APY = Annual Percentage Yield
Ally High Yield CD
Bottom Line

Ally High Yield CDs are notable for saver-friendly features like no minimum deposits and lower-than-average withdrawal penalties (though you're still better off holding through your CD term!). The rates are generally not at the very top of the market, but they tend to not be far off.

Minimum Deposit $0

3 Mo. APY 6 Mo. APY 9 Mo. APY 1 Yr. APY 1.5 Yr. APY 3 Yr. APY 5 Yr. APY
3.00% 4.40% 4.25% 4.50% 4.25% 4.00% 3.90%
APY = Annual Percentage Yield
Bread Savings CD
Bottom Line

Comenity Direct CDs (the bank behind Bread Savings) are available in many of the most popular terms, making it a flexible high-yield CD to consider for differing needs. There's also no monthly maintenance fee. But its $1,500 minimum deposit is a little steeper than what some of its competitors charge.

Minimum Deposit $1,500

1 Yr. APY 2 Yr. APY 3 Yr. APY 4 Yr. APY 5 Yr. APY
5.25% 4.65% 4.25% 4.15% 4.15%
APY = Annual Percentage Yield
Sallie Mae CD
Bottom Line

Sallie Mae may not be well-known for its banking services, but it offers CDs with competitive rates and the typically available terms. But the $2,500 required minimum deposit to open one will make them out of reach for many savers.

Minimum Deposit $2,500

6 Mo. APY 9 Mo. APY 1 Yr. APY 1.5 Yr. APY 2 Yr. APY 3 Yr. APY 5 Yr. APY
5.10% 5.15% 5.25% 4.90% 4.50% 4.00% 4.00%
APY = Annual Percentage Yield
Capital One 360 CD
Bottom Line

Backed by Capital One's well-known brand, the Capital One 360 CDs offer competitive rates across many common terms, though they're stronger in durations of a year or longer. There's no minimum deposit, so savers can benefit even if they don't have a large sum to deposit. Check Capital One's web site for the most up-to-date rates.

Minimum Deposit $0

6 Mo. APY 9 Mo. APY 1 Yr. APY 1.5 Yr. APY 2 Yr. APY 3 Yr. APY 4 Yr. APY 5 Yr. APY
4.25% 4.25% 5.00% 4.45% 4.00% 4.00% 3.95% 3.90%
APY = Annual Percentage Yield
Alliant CD
Bottom Line

Alliant offers CD rates across common terms that stack up well with other banks on this list. The credit union's rates hold up better than most though over the longer terms, so for savers interested in locking in rates for multiple years, Alliant could be a good home for your money. Note that the minimum of $1,000 is on the higher end for this list.

Minimum Deposit $1,000

6 Mo. APY 1 Yr. APY 1.5 Yr. APY 2 Yr. APY 3 Yr. APY 4 Yr. APY 5 Yr. APY
4.75% 5.15% 4.90% 4.30% 4.20% 4.05% 4.00%
APY = Annual Percentage Yield

How to compare the best 5-year CD rates

Most 5-year CDs offer the ability to earn a high APY. Right now you'll find top rates of between 3.75% and 4.35% APY.

Ratings Methodology
Rates as of June 7, 2024
Best Certificates of Deposits (CDs) of June 2024 picks.
Bank & CD Offer APY Term Min. Deposit Next Steps
APY: 3.75% Term: 5 Year Min. Deposit:  $0
APY: 3.75% Term: 5 Year Min. Deposit:  $2,500
Member FDIC.
APY: 4.30% Term: 5 Year Min. Deposit:  $500
Member FDIC.
APY: 4.00% Term: 5 Year Min. Deposit:  $2,500
APY: 4.00% Term: 5 Year Min. Deposit:  $0
APY: 3.90% Term: 5 Year Min. Deposit:  $0
Member FDIC.
APY: 4.15% Term: 5 Year Min. Deposit:  $1,500
APY: 4.00% Term: 5 Year Min. Deposit:  $2,500
APY: 3.90% Term: 5 Year Min. Deposit:  $0
Member FDIC.
APY: 4.00% Term: 5 Year Min. Deposit:  $1,000
Huntington Bank Standard CD
Member FDIC.
APY: 0.05% Term: 1 Months Min. Deposit:  $1,000
Member FDIC.
APY: 3.00% Term: 1 Months Min. Deposit:  $500 or $1,000, depending on CD term
APY: 5.06% Term: 1 Months Min. Deposit:  $500
Member FDIC.
APY: 3.00% Term: 2 Months Min. Deposit:  $500 or $1,000, depending on CD term
APY: 2.00% Term: 3 Months Min. Deposit:  $2,500
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 3 Months Min. Deposit:  $500
APY: 5.00% Term: 3 Months Min. Deposit:  $500
APY: up to 2.51% Term: 3 Months Min. Deposit:  $2,500
APY: 3.00% Term: 3 Months Min. Deposit:  $500
APY: 3.00% Term: 3 Months Min. Deposit:  $0
Member FDIC.
APY: 3.50% Term: 3 Months Min. Deposit:  $500 or $1,000, depending on CD term
APY: 5.26% Term: 3 Months Min. Deposit:  $1
Huntington Bank Standard CD
Member FDIC.
APY: 0.05% Term: 3 Months Min. Deposit:  $1,000
APY: 4.80% Term: 3 Months Min. Deposit:  $10,000
Member FDIC.
APY: 5.51% Term: 3 Months Min. Deposit:  $1,000
APY: 4.90% Term: 5 Months Min. Deposit: 
APY: 5.50% Term: 5 Months Min. Deposit:  $2,500
APY: 4.40% Term: 6 Months Min. Deposit:  $0
APY: 3.00% Term: 6 Months Min. Deposit:  $500
Member FDIC.
APY: 5.30% Term: 6 Months Min. Deposit:  $1,000
Generations Bank CD
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $1,000
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 6 Months Min. Deposit:  $1,000
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 6 Months Min. Deposit:  $500
Vanguard Brokered CD
Member FDIC.
APY: 5.25% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $2,500
APY: 5.10% Term: 6 Months Min. Deposit:  $500
Member FDIC.
APY: 5.35% Term: 6 Months Min. Deposit:  $1,000
APY: 5.10% Term: 6 Months Min. Deposit:  $500
All America Bank CD
Member FDIC.
APY: 4.75% Term: 6 Months Min. Deposit: 
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.50% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 5.27 Term: 6 Months Min. Deposit:  $1,000
Valley Bank CD
Member FDIC.
APY: 4.75% Term: 6 Months Min. Deposit:  $500
APY: 5.23% Term: 6 Months Min. Deposit:  $1
Member FDIC.
APY: 0.05% Term: 6 Months Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 5.25% Term: 6 Months Min. Deposit:  $1,000
APY: 4.00% Term: 6 Months Min. Deposit:  $1
Generations Bank High-Yield CD from Raisin
Member FDIC.
APY: 5.21% Term: 6 Months Min. Deposit:  $1
APY: up to 2.51% Term: 6 Months Min. Deposit:  $2,500
Member FDIC.
APY: 3.80% Term: 6 Months Min. Deposit:  $500 or $1,000, depending on CD term
Member FDIC.
APY: 4.75% Term: 6 Months Min. Deposit:  $500
Member FDIC.
APY: 5.47% Term: 6 Months Min. Deposit:  $1,000
First Tech CD
APY: up to 4.91% Term: 6 Months Min. Deposit:  $500
Member FDIC.
APY: Up to 5.05% Term: 6 Months Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 5.18% Term: 6 Months Min. Deposit:  $1,000
APY: 4.95% Term: 6 Months Min. Deposit:  $500
APY: 4.00% Term: 6 Months Min. Deposit:  $1,000
Republic Bank of Chicago CD
Member FDIC.
APY: 0.50% Term: 6 Months Min. Deposit:  $1,000
APY: 5.25% Term: 6 Months Min. Deposit:  $10,000
APY: 4.25% Term: 6 Months Min. Deposit:  $0
APY: 4.80% Term: 6 Months Min. Deposit:  $0
Member FDIC.
APY: 5.05% Term: 6 Months Min. Deposit:  $500
Member FDIC.
APY: 1.00% - 5.00% Term: 6 Months Min. Deposit:  $250.00
APY: 5.10% Term: 6 Months Min. Deposit:  $2,500
Member FDIC.
APY: 3.00% Term: 6 Months Min. Deposit:  $1,000
Salem Five Bank CD
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $10,000
APY: 4.25% Term: 6 Months Min. Deposit:  $2,500
APY: 4.75% Term: 7 Months Min. Deposit:  $500
Huntington Bank Promotional CD
Member FDIC.
APY: 5.13% Term: 7 Months Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 5.20% Term: 7 Months Min. Deposit:  Up to $10,000
Member FDIC.
APY: 5.01% Term: 7 Months Min. Deposit:  $500
APY: up to 4.75% Term: 7 Months Min. Deposit:  $2,500
APY: 5.00% Term: 7 Months Min. Deposit: 
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 9 Months Min. Deposit:  $1,000
NASA Federal Credit Union High-Yield Certificate
Federally insured by NCUA.
APY: 5.55% Term: 9 Months Min. Deposit:  $10,000
Member FDIC.
APY: 5.30% Term: 9 Months Min. Deposit:  $1,000
APY: 4.25% Term: 9 Months Min. Deposit:  $0
Member FDIC.
APY: 5.27% Term: 9 Months Min. Deposit:  $1,000
APY: 4.25% Term: 9 Months Min. Deposit:  $2,500
Salem Five Bank CD
Member FDIC.
APY: 5.00% Term: 9 Months Min. Deposit:  $10,000
APY: 5.15% Term: 9 Months Min. Deposit:  $2,500
APY: 5.00% Term: 9 Months Min. Deposit:  $500
APY: 4.85% Term: 9 Months Min. Deposit:  $1
APY: 5.15% Term: 9 Months Min. Deposit:  $1
Member FDIC.
APY: 3.75% Term: 9 Months Min. Deposit:  $500
Member FDIC.
APY: 5.00% Term: 10 Months Min. Deposit:  $500
Generations Bank High-Yield CD from Raisin
Member FDIC.
APY: 5.31% Term: 10 Months Min. Deposit:  $1
APY: 4.50% Term: 11 Months Min. Deposit:  $0
APY: 3.50% Term: 11 Months Min. Deposit:  $1,000
Huntington Bank Promotional CD
Member FDIC.
APY: 4.86% Term: 11 Months Min. Deposit:  $1,000
APY: 5.05% Term: 1 Year Min. Deposit:  $1
Member FDIC.
APY: 5.05% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.50% Term: 1 Year Min. Deposit:  $500
Flushing Bank CD
Member FDIC.
APY: 5.00% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 1.00% - 4.75% Term: 1 Year Min. Deposit:  $250.00
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 1 Year Min. Deposit:  $500
APY: 5.35% Term: 1 Year Min. Deposit:  $10,000
Member FDIC.
APY: 5.27% Term: 1 Year Min. Deposit:  $1,000
Republic Bank of Chicago CD
Member FDIC.
APY: 0.75% Term: 1 Year Min. Deposit:  $1,000
Salem Five Bank CD
Member FDIC.
APY: 5.55% Term: 1 Year Min. Deposit:  $10,000
First Tech CD
APY: up to 4.55% Term: 1 Year Min. Deposit:  $500
Member FDIC.
APY: 4.25% Term: 1 Year Min. Deposit:  $500 or $1,000, depending on CD term
Member FDIC.
APY: 5.40% Term: 1 Year Min. Deposit:  $1,000
APY: 4.70% Term: 1 Year Min. Deposit:  $2,500
APY: 5.25% Term: 1 Year Min. Deposit:  $2,500
APY: 4.80% Term: 1 Year Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 5.05% Term: 1 Year Min. Deposit:  $1,000
APY: 4.85% Term: 1 Year Min. Deposit:  $1
Member FDIC.
APY: 5.30% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.25% Term: 1 Year Min. Deposit:  $1,000
APY: 4.50% Term: 1 Year Min. Deposit:  $0
Member FDIC.
APY: 2.75% to 3.75% Term: 1 Year Min. Deposit:  $500
APY: 5.00% Term: 1 Year Min. Deposit:  $0
Member FDIC.
APY: 0.05% Term: 1 Year Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 5.31% Term: 1 Year Min. Deposit:  $1,000
APY: 4.80% Term: 1 Year Min. Deposit:  $0
APY: 5.00% Term: 1 Year Min. Deposit:  $500
Vanguard Brokered CD
Member FDIC.
APY: 5.40% Term: 1 Year Min. Deposit:  $1,000
APY: 5.00% Term: 1 Year Min. Deposit:  $5,000
Member FDIC.
APY: 5.15% Term: 1 Year Min. Deposit:  $2,500
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.60% Term: 1 Year Min. Deposit:  $1,000
APY: 1.50% Term: 1 Year Min. Deposit:  $500
All America Bank CD
Member FDIC.
APY: 4.75% Term: 1 Year Min. Deposit: 
APY: 4.35% Term: 1 Year Min. Deposit:  $0
APY: 4.95% Term: 1 Year Min. Deposit:  $500
Member FDIC.
APY: Up to 4.80% Term: 1 Year Min. Deposit:  $1,000
Generations Bank CD
Member FDIC.
APY: 5.20% Term: 1 Year Min. Deposit:  $1,000
Valley Bank CD
Member FDIC.
APY: 4.50% Term: 1 Year Min. Deposit:  $500
Connexus Credit Union Share CD
APY: Up to 4.81 Term: 1 Year Min. Deposit:  $5,000
Member FDIC.
APY: 4.75% Term: 1 Year Min. Deposit:  $500
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.25% Term: 1 Year Min. Deposit:  $1,500
APY: 5.00% Term: 1 Year Min. Deposit:  $0
Republic Bank of Chicago CD
Member FDIC.
APY: 4.33% Term: 13 Months Min. Deposit:  $1,000
APY: 5.15% Term: 13 Months Min. Deposit: 
First National Bank Special CD
Member FDIC.
APY: 5.00% Term: 13 Months Min. Deposit:  Up to $10,000
Member FDIC.
APY: 3.50% Term: 13 Months Min. Deposit:  $1,000
Member FDIC.
APY: 5.25% Term: 13 Months Min. Deposit:  $500 or $1,000, depending on CD term
Member FDIC.
APY: 5.25% Term: 13 Months Min. Deposit:  $1,000
SchoolsFirst Federal Credit Union CD
Federally insured by NCUA.
APY: 5.00% Term: 13 Months Min. Deposit:  $500
Member FDIC.
APY: 4.00% Term: 15 Months Min. Deposit:  $500
Flushing Bank CD
Member FDIC.
APY: 4.60% Term: 15 Months Min. Deposit:  $1,000
NASA Federal Credit Union High-Yield Certificate
Federally insured by NCUA.
APY: 5.30% Term: 15 Months Min. Deposit:  $10,000
Federally insured by NCUA.
APY: 5.10% Term: 16 Months Min. Deposit:  $500
APY: 4.75% Term: 1.5 Year Min. Deposit:  $10,000
APY: 3.25% Term: 1.5 Year Min. Deposit:  $0
Member FDIC.
APY: 2.00% Term: 1.5 Year Min. Deposit:  $500
Member FDIC.
APY: 4.27% Term: 1.5 Year Min. Deposit:  $500 or $1,000, depending on CD term
APY: 4.75% Term: 1.5 Year Min. Deposit:  $500
APY: 4.40% Term: 1.5 Year Min. Deposit:  $2,500
APY: 4.25% Term: 1.5 Year Min. Deposit:  $0
APY: 1.50% Term: 1.5 Year Min. Deposit:  $500
Member FDIC.
APY: 5.15% Term: 1.5 Year Min. Deposit:  $1,000
Vanguard Brokered CD
Member FDIC.
APY: 5.40% Term: 1.5 Year Min. Deposit:  $1,000
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.85% Term: 1.5 Year Min. Deposit:  $500
Member FDIC.
APY: 0.05% Term: 1.5 Year Min. Deposit:  $1,000
APY: 4.60% Term: 1.5 Year Min. Deposit:  $500
Member FDIC.
APY: 4.90% Term: 1.5 Year Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 5.00% Term: 1.5 Year Min. Deposit:  $1,000
APY: 4.50% Term: 1.5 Year Min. Deposit:  $0
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 1.5 Year Min. Deposit:  $500
Member FDIC.
APY: 3.00% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.00% Term: 1.5 Year Min. Deposit:  $2,500
Member FDIC.
APY: 5.00% Term: 1.5 Year Min. Deposit:  $1,000
APY: 4.50% Term: 1.5 Year Min. Deposit:  $0
APY: 4.90% Term: 1.5 Year Min. Deposit:  $2,500
Member FDIC.
APY: 0.05% Term: 1.5 Year Min. Deposit:  $250.00
APY: 4.45% Term: 1.5 Year Min. Deposit:  $0
Salem Five Bank CD
Member FDIC.
APY: 4.50% Term: 1.5 Year Min. Deposit:  $10,000
Republic Bank of Chicago CD
Member FDIC.
APY: 1.00% Term: 1.5 Year Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 5.04% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.00% Term: 1.5 Year Min. Deposit:  $1,000
APY: 4.30% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.00% Term: 1.5 Year Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 3.50% Term: 19 Months Min. Deposit:  Up to $10,000
All America Bank CD
Member FDIC.
APY: 4.25% Term: 2 Year Min. Deposit: 
Republic Bank of Chicago CD
Member FDIC.
APY: 1.25% Term: 2 Year Min. Deposit:  $1,000
APY: 4.00% Term: 2 Year Min. Deposit:  $5,000
APY: 4.20% Term: 2 Year Min. Deposit:  $500
Salem Five Bank CD
Member FDIC.
APY: 3.25% Term: 2 Year Min. Deposit:  $10,000
APY: 4.00% Term: 2 Year Min. Deposit:  $0
APY: 4.00% Term: 2 Year Min. Deposit:  $0
APY: 4.50% Term: 2 Year Min. Deposit:  $2,500
APY: 4.30% Term: 2 Year Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 4.90% Term: 2 Year Min. Deposit:  $1,000
Vanguard Brokered CD
Member FDIC.
APY: 5.35% Term: 2 Year Min. Deposit:  $1,000
APY: 4.00% Term: 2 Year Min. Deposit:  $0
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.45% Term: 2 Year Min. Deposit:  $1,000
First Tech CD
APY: up to 2.25% Term: 2 Year Min. Deposit:  $500
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 2 Year Min. Deposit:  $500
Member FDIC.
APY: 5.25% Term: 2 Year Min. Deposit:  $1,000
APY: 4.80% Term: 2 Year Min. Deposit:  $10,000
APY: 4.20% Term: 2 Year Min. Deposit:  $0
Member FDIC.
APY: 3.00% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.50% Term: 2 Year Min. Deposit:  $2,500
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.82% Term: 2 Year Min. Deposit:  $1,000
Generations Bank CD
Member FDIC.
APY: 4.24% Term: 2 Year Min. Deposit:  $1,000
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.05% Term: 2 Year Min. Deposit:  $250.00
APY: 4.00% Term: 2 Year Min. Deposit:  $2,500
APY: 1.50% Term: 2 Year Min. Deposit:  $500
Member FDIC.
APY: 0.05% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.50% Term: 2 Year Min. Deposit:  $500
Member FDIC.
APY: 4.80% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.00% Term: 2 Year Min. Deposit:  $500
Member FDIC.
APY: 4.30% Term: 2 Year Min. Deposit:  $500 or $1,000, depending on CD term
Member FDIC.
APY: 4.65% Term: 2 Year Min. Deposit:  $1,500
Member FDIC.
APY: Up to 4.30% Term: 2 Year Min. Deposit:  $1,000
Connexus Credit Union Share CD
APY: Up to 4.56% Term: 2 Year Min. Deposit:  $5,000
Member FDIC.
APY: 4.90% Term: 2 Year Min. Deposit:  $1,000
Valley Bank CD
Member FDIC.
APY: 4.00% Term: 2 Year Min. Deposit:  $500
Member FDIC.
APY: 4.75% Term: 2 Year Min. Deposit:  $1,000
APY: 4.50% Term: 2 Year Min. Deposit:  $500
Member FDIC.
APY: 5.00% Term: 25 Months Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 3.50% Term: 25 Months Min. Deposit:  Up to $10,000
APY: 1.50% Term: 30 Months Min. Deposit:  $500
APY: 3.75% Term: 30 Months Min. Deposit:  $2,500
First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 35 Months Min. Deposit:  Up to $10,000
Member FDIC.
APY: 4.75% Term: 35 Months Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.66% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 3.00% Term: 3 Year Min. Deposit:  $1,000
APY: 4.00% Term: 3 Year Min. Deposit:  $0
APY: 4.00% Term: 3 Year Min. Deposit:  $0
Salem Five Bank CD
Member FDIC.
APY: 2.00% Term: 3 Year Min. Deposit:  $10,000
APY: 3.75% Term: 3 Year Min. Deposit:  $2,500
APY: 4.25% Term: 3 Year Min. Deposit:  $500
APY: 4.00% Term: 3 Year Min. Deposit:  $2,500
Member FDIC.
APY: 4.25% Term: 3 Year Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 4.80% Term: 3 Year Min. Deposit:  $1,000
Vanguard Brokered CD
Member FDIC.
APY: 5.35% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.80% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.05% Term: 3 Year Min. Deposit:  $250.00
Republic Bank of Chicago CD
Member FDIC.
APY: 1.50% Term: 3 Year Min. Deposit:  $1,000
First Tech CD
APY: up to 2.45% Term: 3 Year Min. Deposit:  $500
APY: 4.10% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.10% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.40% Term: 3 Year Min. Deposit:  $500
All America Bank CD
Member FDIC.
APY: 3.75% Term: 3 Year Min. Deposit: 
Member FDIC.
APY: 4.65% Term: 3 Year Min. Deposit:  $1,000
APY: 1.50% Term: 3 Year Min. Deposit:  $500
Member FDIC.
APY: 2.00% Term: 3 Year Min. Deposit:  $500
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.85% Term: 3 Year Min. Deposit:  $500 or $1,000, depending on CD term
APY: 3.50% Term: 3 Year Min. Deposit:  $0
APY: 3.00% Term: 3 Year Min. Deposit:  $0
Member FDIC.
APY: 4.30% Term: 3 Year Min. Deposit:  $2,500
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.35% Term: 3 Year Min. Deposit:  $1,000
APY: 4.15% Term: 3 Year Min. Deposit:  $500
Member FDIC.
APY: 4.25% Term: 3 Year Min. Deposit:  $1,500
APY: 3.35% Term: 3 Year Min. Deposit:  $5,000
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 3 Year Min. Deposit:  $500
APY: 4.55% Term: 3 Year Min. Deposit:  $10,000
APY: 4.15% Term: 3 Year Min. Deposit:  $0
Member FDIC.
APY: up to 1.75% Term: 37 Months Min. Deposit:  $1
Member FDIC.
APY: 4.75% Term: 45 Months Min. Deposit:  $1,000
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 4 Year Min. Deposit:  $1,000
APY: 4.00% Term: 4 Year Min. Deposit:  $500
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 4 Year Min. Deposit:  $500
All America Bank CD
Member FDIC.
APY: 3.49% Term: 4 Year Min. Deposit: 
APY: 4.05% Term: 4 Year Min. Deposit:  $500
APY: 1.61% Term: 4 Year Min. Deposit:  $1
Member FDIC.
APY: 0.15% Term: 4 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.00% Term: 4 Year Min. Deposit:  $500
APY: 3.40% Term: 4 Year Min. Deposit:  $5,000
APY: 3.00% Term: 4 Year Min. Deposit:  $0
Republic Bank of Chicago CD
Member FDIC.
APY: 1.50% Term: 4 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.75% Term: 4 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.55% Term: 4 Year Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 4.55% Term: 4 Year Min. Deposit:  $1,000
APY: 3.75% Term: 4 Year Min. Deposit:  $2,500
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.20% Term: 4 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.15% Term: 4 Year Min. Deposit:  $1,500
Vanguard Brokered CD
Member FDIC.
APY: 5.25% Term: 4 Year Min. Deposit:  $1,000
APY: 3.90% Term: 4 Year Min. Deposit:  $1,000
APY: 3.95% Term: 4 Year Min. Deposit:  $0
APY: 4.45% Term: 4 Year Min. Deposit:  $10,000
Member FDIC.
APY: 4.05% Term: 4 Year Min. Deposit:  $1,000
Salem Five Bank CD
Member FDIC.
APY: 2.25% Term: 4 Year Min. Deposit:  $10,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.50% Term: 4 Year Min. Deposit:  $1,000
APY: 4.00% Term: 4 Year Min. Deposit:  $0
Member FDIC.
APY: 2.50% Term: 4 Year Min. Deposit:  $500 or $1,000, depending on CD term
APY: 3.50% Term: 4 Year Min. Deposit:  $0
NASA Federal Credit Union High-Yield Certificate
Federally insured by NCUA.
APY: 4.60% Term: 49 Months Min. Deposit:  $10,000
First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 52 Months Min. Deposit:  Up to $10,000
Member FDIC.
APY: 4.75% Term: 59 Months Min. Deposit:  $1,000
Vanguard Brokered CD
Member FDIC.
APY: 5.35% Term: 5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.05% Term: 5 Year Min. Deposit:  $250.00
Member FDIC.
APY: 3.25% Term: 5 Year Min. Deposit:  $500 or $1,000, depending on CD term
APY: 4.25% Term: 5 Year Min. Deposit:  $10,000
APY: 1.50% Term: 5 Year Min. Deposit:  $500
Member FDIC.
APY: 4.65% Term: 5 Year Min. Deposit:  $1,000
All America Bank CD
Member FDIC.
APY: 3.49% Term: 5 Year Min. Deposit: 
First Tech CD
APY: up to 3.55% Term: 5 Year Min. Deposit:  $500
APY: 3.90% Term: 5 Year Min. Deposit:  $1,000
Republic Bank of Chicago CD
Member FDIC.
APY: 1.50% Term: 5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 3.00% Term: 5 Year Min. Deposit:  $1,000
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.10% Term: 5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.00% Term: 5 Year Min. Deposit:  $500
APY: 4.00% Term: 5 Year Min. Deposit:  $500
APY: 3.45% Term: 5 Year Min. Deposit:  $5,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.55% Term: 5 Year Min. Deposit:  $1,000
APY: 3.00% Term: 5 Year Min. Deposit:  $0
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 5 Year Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 4.50% Term: 5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.25% Term: 5 Year Min. Deposit:  $1,000
APY: 4.00% Term: 5 Year Min. Deposit:  $500
Member FDIC.
APY: 4.00% Term: 5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.50% Term: 5 Year Min. Deposit:  $1,000
First National Bank Standard CD
Member FDIC.
APY: 1.50% Term: 5 Year Min. Deposit:  $500
Salem Five Bank CD
Member FDIC.
APY: 2.25% Term: 5 Year Min. Deposit:  $10,000
First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 61 Months Min. Deposit:  Up to $10,000
Member FDIC.
APY: up to 2.00% Term: 61 Months Min. Deposit:  $1
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 6 Year Min. Deposit:  $1,000
APY: 1.50% Term: 6 Year Min. Deposit:  $500
APY: 3.90% Term: 6 Year Min. Deposit:  $500
APY: 3.75% Term: 7 Year Min. Deposit:  $2,500
APY: 3.75% Term: 10 Year Min. Deposit:  $2,500

What is a 5-year CD?

A 5-year CD is a savings vehicle that locks your money up for 60 months in exchange for an annual percentage yield (APY). Normally, 5-year CDs have higher interest rates than CDs with shorter terms. But in today's high rate environment, which is more favorable to short-term CDs, 5-year CDs have slightly lower rates. That said, today's 5-year CD rates are very competitive compared to previous years.

Will 5-year CD rates increase in 2024?

It's unlikely that 5-year CD rates will increase in 2024. In fact, many projections suggest that CD rates will start dropping later this year. CD rates generally follow the direction of the Federal Reserve's federal funds rate, which is expected to be lowered sometime in 2024. If the Fed decides to change the funds rate in 2024, you can expect CD providers to adjust their rates accordingly.

Pros and cons of a 5-year CD

Opening a 5-year CD account can be a great investment, but it also has its drawbacks:

Pros of 5-year CDs Cons of 5-year CDs
Higher rates: 5-year CDs usually have higher interest rates than savings accounts. Potential to miss out on higher rates: If market interest rates skyrocket, your CD's interest rate will stay the same. Opening a 5-year CD may tie you into a low rate long term.
Fixed rates: Most CDs have fixed rates, which means your interest rate is locked in for the entire 5-year term. It won't change even if market rates drop. Early withdrawal penalties: You'll get hit with costly early withdrawal penalties if you touch your CD before it reaches maturity.
Predictable returns: Thanks to fixed rates, you can easily calculate how much interest you'll earn over five years. Inflation risk: There's always a chance that your earnings from a 5-year CD don't keep up with inflation.

Who is a 5-year CD right for?

A 5-year CD is right for people who won't need to withdraw funds before the term ends. You'll get hit with a penalty fee if you pull your funds before maturity. Some or all of the interest you've earned up until that point may disappear.

To recap, the highest 5-year CD rates

Offer APY Min. Deposit
3.75% - 5 Yr. $0
3.75% - 5 Yr. $2,500
4.30% - 5 Yr. $500
4.00% - 5 Yr. $2,500
4.00% - 5 Yr. $0
3.90% - 5 Yr. $0
4.15% - 5 Yr. $1,500
4.00% - 5 Yr. $2,500
3.90% - 5 Yr. $0
4.00% - 5 Yr. $1,000
APY = Annual Percentage Yield

Other CD term lengths to consider

Our CDs methodology

At The Motley Fool Ascent, our certificates of deposit (CDs) ratings primarily focus on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.

The Ascent tracks just standard CDs, not IRA, bump up, callable, and other less popular CD accounts. CD rates displayed on this Best 5-Year CD Rates pages are comprised of both the highest CD rates in The Ascent’s universe of tracked rates and featured placements from advertisers. Ordering within lists is influenced by advertiser compensation, including featured placements at the top of a given list.

Learn more about how The Motley Fool Ascent rates bank accounts.

Banks we monitor

  • Alliant, Ally, All America Bank, American First Credit Union, American Express® National Bank, Arvest Bank, Aspiration, Axos Bank, B2 Bank, Bank of America, Bank5 Connect, Bank7, Barclays, Bask Bank, Betterment, Bluevine, BMO, Bread Financial, Capital One, Carver Federal Savings Bank, Charles Schwab Bank, Chase, Chime, CIT, Citibank, Citizens Bank, Citizens Savings Bank, Columbia Bank, Connexus Credit Union, Consumers Credit Union, Copper, Cross River Bank, Customers Bank, Discover® Bank, E*TRADEEdward Jones, EverBank, Fidelity, Fifth Third Bank, First Foundation Bank, First Internet Bank of Indiana, First National Bank, First Tech Federal Credit Union, Flushing Bank, Freedom Bank, Generations Bank, GN Bank, Golden 1 Credit Union, Greenlight, Harborstone Credit Union, HSBC, Huntington Bank, Ivella, Kabbage by American Express, KeyBank, Laurel Road, LendingClub, Liberty Bank, Liberty Federal Credit Union, Marcus by Goldman Sachs, Mercury, Municipal Credit Union, Mutual of Omaha, NASA Federal Credit Union, Nationwide Bank, Navy Federal Credit Union, NBKC Bank, New York Community Bank, Northpointe Bank, Novo, OceanFirst Bank, Old National Bank, ONE Finance, OneUnited Bank, Oxygen, Pacific Western Bank, PNC Bank, Ponce Bank, Popular Direct, Presidential Bank, Prime Alliance Bank, Quontic, Radius, Raisin, Redneck Bank, Regions Bank, Relay, Republic Bank of Chicago, Revolut, Salem Five Bank, Sallie Mae, Santander Bank, SchoolsFirst Federal Credit Union, Simple, SoFi, Synchrony Bank, Tab Bank, TD Bank, Third Federal, Truist Bank, U.S. Bank, UFB, Upgrade, USAA, Valley Bank, Vanguard, Varo Bank, Vio Bank, Wealthfront, Wells Fargo, Western Alliance Bank, and Zeta.

FAQs

  • 5-year CDs typically offer a significantly higher APY than CDs with shorter terms. Depending on your initial deposit amount, you can earn more interest by opening a 5-year CD.

  • A 5-year CD is worth opening if you can afford to deposit funds and leave them untouched for that long. If not, then it's better to opt for a shorter term or reduce your risk through CD laddering.

  • Like other CD terms, you open a 5-year CD with an initial deposit in exchange for an interest rate. As long as you leave your deposit in the CD account for five years, your money will grow at the advertised rate. For instance, if you deposit $10,000 in a 5-year CD with an APY of 4.20%, you would earn roughly $2,284 in interest for a total of $12,284 at the end of your term.

Our Banking Experts