Please ensure Javascript is enabled for purposes of website accessibility

This device is too small

If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience.

Skip to main content

Best CD Rates of April 2024 (Up to 5.15%)

Review Updated
Kailey Hagen
Matt Frankel, CFP®
By: Kailey Hagen and Matt Frankel, CFP®

Our Banking Experts

Nathan Alderman
Check IconFact Checked Nathan Alderman
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

The best certificate of deposit (CD) rates help your money grow in a stable, FDIC-insured environment. And don't tell your savings account, but CD rates are often competitive with the best savings account rates.

However, there is a trade-off: To get these great CD interest rates, you have to agree not to withdraw your money for a certain amount of time. Keep reading to compare the best CD rates and get answers to your top CD questions.

Short on time? Here are a few of our favorite CDs:

Ratings Methodology
Rates as of April 12, 2024
Best CD rates of April 2024
Bank & CD Offer APY Term Min. Deposit Next Steps
APY: 5.10% Term: 10 Months Min. Deposit:  $0
APY: 5.00% Term: 1 Year Min. Deposit:  $0
APY: 4.40% Term: 1.5 Year Min. Deposit:  $2,500
APY: 5.05% Term: 1 Year Min. Deposit:  $1
Member FDIC.
APY: 4.50% Term: 1 Year Min. Deposit:  $500
APY: 5.15% Term: 6 Months Min. Deposit:  $0
APY: 4.60% Term: 1.5 Year Min. Deposit:  $500
Member FDIC.
APY: 4.65% Term: 2 Year Min. Deposit:  $1,500
APY: 3.90% Term: 5 Year Min. Deposit:  $0
Member FDIC.
APY: 4.90% Term: 1.5 Year Min. Deposit:  $1,000
APY: 3.90% Term: 5 Year Min. Deposit:  $0
APY: 4.95% Term: 6 Months Min. Deposit:  $500
Member FDIC.
APY: 5.15% Term: 1 Year Min. Deposit:  $2,500
Huntington Bank Standard CD
Member FDIC.
APY: 0.05% Term: 1 Months Min. Deposit:  $1,000
APY: 5.06% Term: 1 Months Min. Deposit:  $500
APY: 3.00% Term: 1 Months Min. Deposit: 
APY: 3.00% Term: 2 Months Min. Deposit: 
Huntington Bank Standard CD
Member FDIC.
APY: 0.05% Term: 3 Months Min. Deposit:  $1,000
APY: Up to 4.51% Term: 3 Months Min. Deposit:  $2,500
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: 3.00% Term: 3 Months Min. Deposit:  $0
APY: 5.00% Term: 3 Months Min. Deposit:  $500
APY: 5.26% Term: 3 Months Min. Deposit:  $1
APY: 3.50% Term: 3 Months Min. Deposit: 
APY: 3.00% Term: 3 Months Min. Deposit:  $500
APY: 4.90% Term: 5 Months Min. Deposit: 
Member FDIC.
APY: 4.76% Term: 6 Months Min. Deposit:  $1,000
Valley Bank CD
Member FDIC.
APY: 4.75% Term: 6 Months Min. Deposit:  $500
All America Bank CD
Member FDIC.
APY: 4.75% Term: 6 Months Min. Deposit: 
APY: 5.10% Term: 6 Months Min. Deposit:  $500
APY: Up to 2.51% Term: 6 Months Min. Deposit:  $2,500
Vanguard Brokered CD
Member FDIC.
APY: 5.30% Term: 6 Months Min. Deposit:  $1,000
Republic Bank of Chicago CD
Member FDIC.
APY: 0.50% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 1.00% - 5.00% Term: 6 Months Min. Deposit:  $250.00
APY: 5.10% Term: 6 Months Min. Deposit:  $2,500
Salem Five Bank CD
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $10,000
Member FDIC.
APY: 3.00% Term: 6 Months Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 5.25% Term: 6 Months Min. Deposit:  $1,000
APY: 3.00% Term: 6 Months Min. Deposit:  $500
APY: 5.23% Term: 6 Months Min. Deposit:  $1
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $500
Generations Bank CD
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $1,000
APY: 4.00% Term: 6 Months Min. Deposit: 
APY: 3.80% Term: 6 Months Min. Deposit: 
APY: 4.40% Term: 6 Months Min. Deposit:  $0
APY: 4.25% Term: 6 Months Min. Deposit:  $0
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 6 Months Min. Deposit:  $500
First Internet Bank of Indiana CD
Member FDIC.
APY: 5.18% Term: 6 Months Min. Deposit:  $1,000
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.50% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 5.30% Term: 6 Months Min. Deposit:  $1,000
APY: 4.25% Term: 6 Months Min. Deposit:  $2,500
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $2,500
APY: 4.80% Term: 6 Months Min. Deposit:  $500
Member FDIC.
APY: 0.05% Term: 6 Months Min. Deposit:  $1,000
Generations Bank High-Yield CD from Raisin
Member FDIC.
APY: 5.21% Term: 6 Months Min. Deposit:  $1
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 5.37% Term: 6 Months Min. Deposit: 
Member FDIC.
APY: Up to 5.05% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 5.05% Term: 6 Months Min. Deposit:  $500
Member FDIC.
APY: 5.15% Term: 6 Months Min. Deposit:  $1,000
APY: 4.00% Term: 6 Months Min. Deposit:  $1,000
First Tech CD
APY: up to 4.91% Term: 6 Months Min. Deposit:  $500
Member FDIC.
APY: 5.01% Term: 7 Months Min. Deposit:  $500
APY: Up to 5.01% Term: 7 Months Min. Deposit:  $2,500
First National Bank Special CD
Member FDIC.
APY: 5.20% Term: 7 Months Min. Deposit:  Up to $10,000
APY: 5.00% Term: 7 Months Min. Deposit: 
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
APY: 4.25% Term: 9 Months Min. Deposit:  $2,500
APY: 4.90% Term: 9 Months Min. Deposit:  $500
Salem Five Bank CD
Member FDIC.
APY: 5.00% Term: 9 Months Min. Deposit:  $10,000
NASA Federal Credit Union High-Yield Certificate
Federally insured by NCUA.
APY: 5.55% Term: 9 Months Min. Deposit:  $10,000
APY: 4.45% Term: 9 Months Min. Deposit:  $0
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 9 Months Min. Deposit:  $1,000
APY: 4.85% Term: 9 Months Min. Deposit:  $1
APY: 4.90% Term: 9 Months Min. Deposit:  $0
APY: 5.15% Term: 9 Months Min. Deposit:  $2,500
APY: 5.15% Term: 9 Months Min. Deposit:  $1
Member FDIC.
APY: 5.30% Term: 9 Months Min. Deposit:  $500
Member FDIC.
APY: 3.75% Term: 9 Months Min. Deposit:  $500
Generations Bank High-Yield CD from Raisin
Member FDIC.
APY: 5.31% Term: 10 Months Min. Deposit:  $1
APY: 4.75% Term: 11 Months Min. Deposit:  $0
Huntington Bank Promotional CD
Member FDIC.
APY: 4.86% Term: 11 Months Min. Deposit:  $1,000
APY: 3.50% Term: 11 Months Min. Deposit:  $1,000
APY: 4.00% Term: 1 Year Min. Deposit:  $0
Member FDIC.
APY: 5.25% Term: 1 Year Min. Deposit:  $1,500
APY: 4.80% Term: 1 Year Min. Deposit:  $0
Member FDIC.
APY: 4.76% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.75% to 3.75% Term: 1 Year Min. Deposit:  $500
Valley Bank CD
Member FDIC.
APY: 4.50% Term: 1 Year Min. Deposit:  $500
APY: 4.25% Term: 1 Year Min. Deposit: 
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 1 Year Min. Deposit:  $500
First Internet Bank of Indiana CD
Member FDIC.
APY: 5.31% Term: 1 Year Min. Deposit:  $1,000
APY: 4.65% Term: 1 Year Min. Deposit:  $0
APY: 4.80% Term: 1 Year Min. Deposit:  $0
APY: 5.25% Term: 1 Year Min. Deposit:  $2,500
Member FDIC.
APY: 5.05% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.20% Term: 1 Year Min. Deposit:  $1,000
Flushing Bank CD
Member FDIC.
APY: 5.00% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.31% Term: 1 Year Min. Deposit: 
Member FDIC.
APY: 1.00% - 4.75% Term: 1 Year Min. Deposit:  $250.00
Vanguard Brokered CD
Member FDIC.
APY: 5.40% 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
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 1 Year Min. Deposit:  $1,000
APY: 4.70% Term: 1 Year Min. Deposit:  $2,500
APY: 4.75% 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: 0.05% Term: 1 Year Min. Deposit:  $1,000
All America Bank CD
Member FDIC.
APY: 4.75% Term: 1 Year Min. Deposit: 
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
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.60% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.75% Term: 1 Year Min. Deposit:  $500
Connexus Credit Union Share CD
APY: Up to 4.81 Term: 1 Year Min. Deposit:  $5,000
APY: 1.50% Term: 1 Year Min. Deposit:  $500
APY: 5.00% Term: 1 Year Min. Deposit:  $5,000
APY: 4.90% Term: 1 Year Min. Deposit:  $500
SchoolsFirst Federal Credit Union CD
Federally insured by NCUA.
APY: 5.00% Term: 13 Months Min. Deposit:  $500
APY: 5.15% Term: 13 Months Min. Deposit: 
Member FDIC.
APY: 5.25% Term: 13 Months Min. Deposit:  $1,000
Republic Bank of Chicago CD
Member FDIC.
APY: 4.33% Term: 13 Months Min. Deposit:  $1,000
APY: 5.25% Term: 13 Months Min. Deposit: 
Member FDIC.
APY: 3.50% Term: 13 Months Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 5.00% Term: 13 Months Min. Deposit:  Up to $10,000
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
Member FDIC.
APY: 5.10% Term: 1.5 Year Min. Deposit: 
Member FDIC.
APY: 3.00% 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
APY: 4.27% Term: 1.5 Year Min. Deposit: 
APY: 4.75% Term: 1.5 Year Min. Deposit:  $500
Member FDIC.
APY: 4.60% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.85% Term: 1.5 Year Min. Deposit:  $500
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 1.5 Year Min. Deposit:  $500
APY: 4.50% Term: 1.5 Year Min. Deposit:  $0
Member FDIC.
APY: 2.00% Term: 1.5 Year Min. Deposit:  $500
Member FDIC.
APY: 4.50% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.05% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.00% Term: 1.5 Year Min. Deposit:  $2,500
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
First Internet Bank of Indiana CD
Member FDIC.
APY: 5.04% Term: 1.5 Year Min. Deposit:  $1,000
APY: 4.90% Term: 1.5 Year Min. Deposit:  $2,500
APY: 4.50% Term: 1.5 Year Min. Deposit:  $0
Fidelity CD
Member FDIC.
APY: 5.00% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.00% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.05% Term: 1.5 Year Min. Deposit:  $250.00
Vanguard Brokered CD
Member FDIC.
APY: 5.30% Term: 1.5 Year Min. Deposit:  $1,000
Republic Bank of Chicago CD
Member FDIC.
APY: 1.00% Term: 1.5 Year Min. Deposit:  $1,000
APY: 3.25% Term: 1.5 Year Min. Deposit:  $0
APY: 4.45% Term: 1.5 Year Min. Deposit:  $0
APY: 1.50% Term: 1.5 Year Min. Deposit:  $500
APY: 4.60% 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
APY: 4.20% Term: 2 Year Min. Deposit:  $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
APY: 3.30% Term: 2 Year Min. Deposit:  $5,000
APY: 4.00% Term: 2 Year Min. Deposit:  $2,500
Member FDIC.
APY: 4.50% Term: 2 Year Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.82% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.50% Term: 2 Year Min. Deposit:  $2,500
Member FDIC.
APY: 4.50% Term: 2 Year Min. Deposit:  $500
First Tech CD
APY: up to 2.25% Term: 2 Year Min. Deposit:  $500
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
All America Bank CD
Member FDIC.
APY: 4.25% Term: 2 Year Min. Deposit: 
Valley Bank CD
Member FDIC.
APY: 4.00% Term: 2 Year Min. Deposit:  $500
Member FDIC.
APY: 4.90% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.00% Term: 2 Year Min. Deposit:  $500
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 2 Year Min. Deposit:  $1,000
Salem Five Bank CD
Member FDIC.
APY: 3.25% Term: 2 Year Min. Deposit:  $10,000
Republic Bank of Chicago CD
Member FDIC.
APY: 1.25% Term: 2 Year Min. Deposit:  $1,000
APY: 4.30% Term: 2 Year Min. Deposit: 
APY: 4.50% Term: 2 Year Min. Deposit:  $500
APY: 1.50% Term: 2 Year Min. Deposit:  $500
APY: 4.00% Term: 2 Year Min. Deposit:  $0
Member FDIC.
APY: 4.25% Term: 2 Year Min. Deposit:  $1,000
Vanguard Brokered CD
Member FDIC.
APY: 5.20% Term: 2 Year Min. Deposit:  $1,000
APY: 4.20% Term: 2 Year Min. Deposit:  $0
Generations Bank CD
Member FDIC.
APY: 4.24% Term: 2 Year Min. Deposit:  $1,000
APY: 4.40% Term: 2 Year Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 4.90% Term: 2 Year Min. Deposit:  $1,000
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 2 Year Min. Deposit:  $500
Member FDIC.
APY: 5.20% Term: 2 Year Min. Deposit: 
Member FDIC.
APY: 0.05% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.05% Term: 2 Year Min. Deposit:  $250.00
APY: 4.50% Term: 2 Year Min. Deposit:  $2,500
APY: 4.00% Term: 2 Year Min. Deposit:  $0
First National Bank Special CD
Member FDIC.
APY: 3.50% Term: 25 Months Min. Deposit:  Up to $10,000
Member FDIC.
APY: 5.00% Term: 25 Months Min. Deposit:  $1,000
APY: 1.50% Term: 30 Months Min. Deposit:  $500
APY: 3.75% Term: 30 Months Min. Deposit:  $2,500
Member FDIC.
APY: 4.75% Term: 35 Months Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 35 Months Min. Deposit:  Up to $10,000
APY: 4.15% Term: 3 Year Min. Deposit:  $500
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.66% Term: 3 Year Min. Deposit:  $1,000
Vanguard Brokered CD
Member FDIC.
APY: 5.15% Term: 3 Year Min. Deposit:  $1,000
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: 4.15% Term: 3 Year Min. Deposit:  $0
APY: 4.00% Term: 3 Year Min. Deposit:  $2,500
APY: 4.00% Term: 3 Year Min. Deposit:  $0
Member FDIC.
APY: 4.15% Term: 3 Year Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 4.80% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.40% Term: 3 Year Min. Deposit:  $500
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
APY: 3.35% Term: 3 Year Min. Deposit:  $5,000
Member FDIC.
APY: 0.10% Term: 3 Year Min. Deposit:  $1,000
All America Bank CD
Member FDIC.
APY: 3.75% Term: 3 Year Min. Deposit: 
APY: 1.50% Term: 3 Year Min. Deposit:  $500
Member FDIC.
APY: 5.15% Term: 3 Year Min. Deposit: 
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: 4.30% Term: 3 Year Min. Deposit:  $2,500
APY: 2.85% Term: 3 Year Min. Deposit: 
APY: 3.50% Term: 3 Year Min. Deposit:  $0
APY: 3.00% Term: 3 Year Min. Deposit:  $0
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.35% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.25% Term: 3 Year Min. Deposit:  $1,500
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 3 Year Min. Deposit:  $500
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
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 4 Year Min. Deposit:  $500
Member FDIC.
APY: 4.90% Term: 4 Year Min. Deposit: 
Member FDIC.
APY: 4.55% Term: 4 Year Min. Deposit:  $1,000
APY: 3.50% Term: 4 Year Min. Deposit:  $0
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.20% Term: 4 Year Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 4.55% Term: 4 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.15% Term: 4 Year Min. Deposit:  $1,000
APY: 4.05% Term: 4 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.00% Term: 4 Year Min. Deposit:  $500
Member FDIC.
APY: 3.95% Term: 4 Year Min. Deposit:  $1,000
All America Bank CD
Member FDIC.
APY: 3.49% Term: 4 Year Min. Deposit: 
APY: 2.50% Term: 4 Year Min. Deposit: 
Member FDIC.
APY: 4.15% Term: 4 Year Min. Deposit:  $1,500
APY: 4.00% Term: 4 Year Min. Deposit:  $500
APY: 4.05% Term: 4 Year Min. Deposit:  $500
Republic Bank of Chicago CD
Member FDIC.
APY: 1.50% Term: 4 Year Min. Deposit:  $1,000
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 4 Year Min. Deposit:  $1,000
APY: 3.75% Term: 4 Year Min. Deposit:  $2,500
APY: 1.61% Term: 4 Year Min. Deposit: 
APY: 3.95% Term: 4 Year Min. Deposit:  $0
Vanguard Brokered CD
Member FDIC.
APY: 4.30% Term: 4 Year Min. Deposit:  $1,000
APY: 3.40% Term: 4 Year Min. Deposit:  $5,000
APY: 3.00% Term: 4 Year Min. Deposit:  $0
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
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
Member FDIC.
APY: 4.15% Term: 5 Year Min. Deposit:  $1,500
Member FDIC.
APY: 4.50% Term: 5 Year Min. Deposit:  $1,000
APY: 4.00% Term: 5 Year Min. Deposit:  $500
Member FDIC.
APY: 4.80% Term: 5 Year Min. Deposit: 
First National Bank Standard CD
Member FDIC.
APY: 1.50% Term: 5 Year Min. Deposit:  $500
APY: 1.50% Term: 5 Year Min. Deposit:  $500
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.10% Term: 5 Year Min. Deposit:  $1,000
All America Bank CD
Member FDIC.
APY: 3.49% Term: 5 Year Min. Deposit: 
APY: 3.45% Term: 5 Year Min. Deposit:  $5,000
Member FDIC.
APY: 4.00% Term: 5 Year Min. Deposit:  $2,500
Member FDIC.
APY: 0.25% Term: 5 Year Min. Deposit:  $1,000
APY: 4.00% Term: 5 Year Min. Deposit:  $500
APY: 4.00% Term: 5 Year Min. Deposit:  $0
First Tech CD
APY: up to 3.55% Term: 5 Year Min. Deposit:  $500
Republic Bank of Chicago CD
Member FDIC.
APY: 1.50% Term: 5 Year Min. Deposit:  $1,000
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.05% Term: 5 Year Min. Deposit:  $250.00
Vanguard Brokered CD
Member FDIC.
APY: 5.15% Term: 5 Year Min. Deposit:  $1,000
APY: 3.00% Term: 5 Year Min. Deposit:  $0
APY: 3.95% Term: 5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.00% Term: 5 Year Min. Deposit:  $500
Fidelity CD
Member FDIC.
APY: 4.50% Term: 5 Year Min. Deposit:  $1,000
APY: 4.00% Term: 5 Year Min. Deposit:  $2,500
Member FDIC.
APY: 4.30% Term: 5 Year Min. Deposit:  $500
Salem Five Bank CD
Member FDIC.
APY: 2.25% Term: 5 Year Min. Deposit:  $10,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.55% Term: 5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 3.90% Term: 5 Year Min. Deposit:  $1,000
APY: 3.75% Term: 5 Year Min. Deposit:  $2,500
APY: 3.25% Term: 5 Year Min. Deposit: 
APY: 3.75% Term: 5 Year Min. Deposit:  $0
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
APY: 3.90% Term: 6 Year Min. Deposit:  $500
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: 3.75% Term: 7 Year Min. Deposit:  $2,500
APY: 3.75% Term: 10 Year Min. Deposit:  $2,500

How to compare the best CD rates

Ready to get started, but not sure how to compare CD rates? Here are some of the things to keep an eye out for:

  • A high APY: This is how much you'll earn in interest.
  • Daily compounding interest: Want more money in interest? Look for a high-yield CD account with daily compounding.
  • Low early withdrawal penalties: You'll pay a penalty to withdraw your funds ahead of schedule. The amount of this penalty should be outlined in a CD's fee schedule.
  • Low or no fees: Fees with high-yield CDs aren't common (except for early withdrawal penalties), but it's always good to check.

A deeper dive into the best CD rates

Capital One 360 CD: Best for banking convenience

Barclays Online CD: Best for no minimum deposits

Discover® Bank CD: Best for creating a CD ladder

Western Alliance Bank CDs: Best for maximum APY

Quontic CDs: Best for unique banking perks

Synchrony Online CD: Best for unique CDs

Marcus by Goldman Sachs High Yield CD: Best for variety of term lengths

Bread Savings CD: Best for high-balance CDs

Ally High Yield CD: Best for automatic renewal

Alliant CD: Best for a high APY

Prime Alliance Bank CD: Best for medium-term CDs

LendingClub CDs: Best for high balances

Recent news on CD rates

As of March 2024, CD rates are at their highest level in several years. The Federal Reserve increased the benchmark federal funds rate sharply from 2022 through 2023, and while CD rates aren't directly linked to the federal funds rate, they tend to move in the same direction.

You might also notice that shorter term (six-24 month) CD rates are generally higher than long-term CD rates right now. Historically, the opposite is typically the case. The short explanation is that shorter-term CD rates are more dependent on the current interest rate environment, while longer-term CD rates tend to reflect future expectations for interest rates. Since benchmark rates are widely expected to fall in 2024 and 2025, we're seeing this figured into the rates paid on longer-term CDs.

How will CD rates change in 2024?

To be perfectly clear, nobody can predict future CD rates with accuracy. They tend to move in the same direction as benchmark interest rates like the federal funds rate, but they aren't directly linked and banks have some discretion to set their own rates.

Having said that, the most recent projection from the policymakers at the Federal Reserve is for three 0.25% cuts to the federal funds rate in 2024 and several more in 2025. If this were to happen, it would likely put downward pressure on CD rates. In short, while nobody knows for sure, CD rates are likely to fall between now and the end of 2024.

What is a certificate of deposit (CD)?

A certificate of deposit (CD) is a type of FDIC-insured deposit account offered by many banks and credit unions that usually has a fixed interest rate over a certain number of months or years. CD interest rates are often higher than what you find with most savings accounts, but they carry the stipulation that you must not touch the money until the CD term is over. If you withdraw the funds early, you pay a penalty, though some banks allow a CD loan (a loan secured by the money you already have in your CD).

How does a CD work?

You deposit a certain amount of money into a high-yield CD and agree not to touch it for the length of the CD term in exchange for a high rate of interest that's usually locked in for the full term. Your bank pays that interest monthly or quarterly, and when the CD term is up, you may withdraw the funds and spend them, place them in a savings account, or put them in another high-interest CD. 

Withdrawing your funds before the CD term ends results in a penalty -- usually several months' worth of interest. The earlier you withdraw the funds, the larger your penalty will be.

Alternatives to CDs

CDs are appealing if you're trying to earn a high APY on your savings, but the fact that you cannot touch your money for a set amount of time can be too constraining for some people. If you don't think a high-yield CD is a great fit for you, perhaps one of these accounts would work better.

Savings accounts vs. CDs

High-yield savings accounts offer interest rates that are comparable to the highest CD rates. Plus, savings accounts have fewer restrictions on what you can do with your money. You're able to put money in, transfer it to a checking account, or withdraw it almost whenever you want (though withdrawals are often limited to six a month, per Regulation D).

Below are some examples of high-yield savings accounts.

Money market accounts vs. CDs

Money market accounts are a hybrid of checking and savings accounts. They offer interest rates similar to high-yield savings accounts and certificate of deposit rates. In addition, money market accounts often give you a debit card and check-writing capabilities. That means, with a money market account, you can directly withdraw funds from your account at your convenience.

This might be a better option than a high-yield savings account or a CD if you anticipate needing to take money directly out of your account.

You can find our top picks on our Best Money Market Accounts page.

High-yield savings account comparison

We recommend comparing high-yield savings account options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of standout accounts.

Show Best Offers Available in

Account APY Promotion Next Steps
up to 4.60%
Rate info Circle with letter I in it. You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
New customers can earn up to a $300 bonus with qualifying direct deposits!
5.05% APY for balances of $5,000 or more
Rate info Circle with letter I in it. 5.05% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $100 to open account, $5,000 for max APY
N/A
4.35%
Min. to earn: $0
New customers can earn a $200 bonus with a minimum $25,000 qualifying deposit. Terms apply.

How to compare CD rates

When you're looking for the best CD rates today, don't forget to consider these things:

CD term

The CD's term is the length of time you agree to not touch your money. It can range from one month on the short end to six years or more on the long end. Most range from six months to five years. You'll often find the longer the CD term, the higher the interest rate.

Minimum deposit

While some of the highest CD rates have no minimum deposit, others may require a few hundred to a few thousand dollars. Some jumbo CDs may have five-figure minimum deposit requirements.

How interest is paid to you

Most CDs add the interest you earn to your account balance, but some give you the option to have your interest paid directly to you. If you go this route, you can reap some of the benefits of your high-yield CD immediately. But bear in mind that if you leave the money in your account instead, you can earn interest on your interest, which leads to more money overall.

FDIC or NCUA insurance

CD accounts offered by banks should carry FDIC insurance so your money is protected up to $250,000 per person per account. NCUA does the same thing for share certificates offered by credit unions. Most high-yield CDs will have the appropriate insurance, but it pays to be sure.

How often rates are raised

Step-up and bump-up CDs occasionally raise your rates. If you're interested in one of these, pay attention to how often you or the bank can increase the rate when you compare CD rates.

Whether it's callable

Some CDs are callable, which means the bank can call it back from you at some point and reissue you a new CD, possibly at a lower rate.

TIP

What happens at the end of your CD term

Some banks automatically enroll you in a new CD of the same term length unless you specify that you want to do something different. It's usually a bad idea to let your bank open a new CD for you. Watch out for this and make sure you tell your bank what you want to do with your money instead.

Which banks have the best CD rates?

Online banks overwhelmingly offer the best CD interest rates when compared to larger brick-and-mortar traditional banks. In fact, some of our favorite online banks' current CD rates are multiple times higher than what you'd find with a national bank.

We've rarely seen a reason to invest in CDs with a brick-and-mortar national bank, especially when online banks offer the same FDIC insurance protection. CD interest rates at online banks tend to be higher.

If looking to compare CD rates, we suggest reviewing some of the current rates on CDs at the following financial institutions:

Who is a CD right for?

CDs can be smart choices for savers who won't need access to their cash anytime soon and want to lock in a high yield for a certain amount of time. A CD can be a better choice than a savings account for money you won't need anytime soon, as savings account yields can fluctuate significantly over time, while CD yields are guaranteed for the entire term.

Conversely, CDs are generally not a good idea for money that you might need in the near future. Most CDs assess a penalty if you decide to withdraw money before the maturity date, and they generally don't allow partial withdrawals.

Pros and cons of CDs

Like any financial product, there are advantages and disadvantages when it comes to putting money into a CD. Before deciding if a CD is a good idea for you, it's important to make sure the pros outweigh the cons, so here are lists of each.

Pros

  • CDs lock in a fixed interest rate for a certain amount of time.
  • CDs are FDIC insured for as much as $250,000 per person, per bank.
  • CDs often have higher interest rates than high-yield savings accounts.
  • Some CDs allow you to withdraw the interest paid at any time, as long as you leave your initial deposit in the account.
  • CDs come in a variety of term lengths.

Cons

  • CD interest is a form of taxable income.
  • You'll incur early withdrawal penalties if you need the money before the CD matures.
  • Many CDs automatically renew unless you act.

CD Industry Experts Weigh In

Amy Sabin, CEPA®

Amy Sabin, CEPA®

Managing Director & Wealth Advisor with The Sabin Group at Steward Partners

Amy previously she worked for Bear Stearns and remained with them through the acquisition by JP Morgan. She holds 4 investment licenses, an AAMS degree and the Certified Exit Planning Advisor CEPA® certification.

Who is a CD right for?

CD’s are suitable for investors that:

  1. want the added safety of the FDIC insurance,
  2. comfortable with the issuing bank,
  3. don’t want to risk their principal
  4. comfortable investing their principal until the maturity of the CD (i.e. the maturity date).

What is a CD and what is it used for?

A CD stands for a “certificate of deposit” and are issued primarily by banks. They are financial instruments that pay either a fixed, variable or stepped up coupon. The most common CDs are those with a fixed coupon. The interest on a CD can be paid daily, monthly, quarterly or even annually. In the United States, CD’s are nearly always insured by the FDIC which is the Federal Deposit Insurance Corporation which is an agency of the federal government. CDs are used as an investment to offer security and a return of principal and the stated interest rate.

How do you know if CD rates will go up?

Nobody knows for certain if CD rates will increase. CD rates are determined by the bank or financial institution issuing the instrument and typically have a very tight correlation to the US bond market and the corresponding yield that is closest to the maturity of the CD.

How does CD laddering work?

CD laddering is the method of buying CD’s with consistent, staggering maturities. For example, if you would like to invest $1mm in a CD ladder, you could invest $200k in a CD that matures in 1 yr, another $200k that matures in 2 years, a third $200k that matures in 3 years, etc.

Rita-Soledad Fernández Paulino

Rita-Soledad Fernández Paulino

CEO of Wealth Para Todos

Rita-Soledad Fernández Paulino is the founder and CEO of Wealth Para Todos, a financial coaching and education platform dedicated to removing barriers to financial security for marginalized communities.

Who is a CD right for?

CDs are a great option for people who have already have at least 3 months of expenses in a high-yield savings account for an emergency fund, no debt with an interest rate above 9%, investment accounts funded for retirement, and who are saving for an upcoming expense that they don't plan to purchase for more than a year. People who meet this criteria will want to compare CD rates with HYSA rates and Series I Bond rates to ensure they get the highest interest rate possible.

What is a CD and what is it used for?

A Certificate of Deposit (CD) is a type of savings account that requires you to keep your money in there for a certain period of time in exchange for a guaranteed rate of return. CDs are a great way to earn some extra cash while you sleep without having to worry about the value of your savings ever going down (like you may do when investing in the stock market.) Depending on the CD's interest rates, they could potentially protect your short-term savings from losing its purchasing power due to inflation.

How do you know if CD rates will go up?

CD rates are impacted by the federal funds rates. When the Federal Reserve expects banks to have more cash reserves, banks try to incentivize people to save more. Since federal chairman Jerome Powell has expressed another upcoming federal fund rate hike, we can probably expect for CD rates to increase a little more.

How does CD laddering work?

CD laddering consists of opening multiple CDs at different times in order to have access to your money at different times. Instead of taking a lump sum of money and opening one CD, you decide to split that lump sum into multiple CDs opened at different time periods or with different term lengths so you can have access to your money potentially sooner.

Other CD term lengths to consider

Our CDs methodology

At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing 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 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.

See our full Ratings Methodology here.

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

  • Using a CD for an emergency fund is safer than putting it in the stock market. However, it's not as flexible as a savings account. If you withdraw money from a CD before the term is over, you will have to pay an early withdrawal penalty. Typically, it amounts to several months of interest earned, depending on the bank and the CD's term.

    Other options for an emergency fund are a savings account, high-yield savings account, or a money market account.

  • If you invest $10,000 in a 1-year CD at a 5.00% APY, it would make $500. The amount you will earn depends on your CD rate. To calculate this yourself, multiply the amount you plan to deposit by the APY that the CD offers.

  • A good CD rate in 2024 is about 4.50% or higher for a 1-year term. Some of the best CDs offer an APY of 5.00% or more on 1-year CDs. Rates like these are much higher than the national average, and you can normally only find them at online banks.

  • Yes. CD deposits are covered by FDIC insurance, which insures depositors for up to $250,000 per person per bank. In the event of a bank's insolvency, this insurance would kick in and cover any lost funds up to that amount.

  • Your CD rate is typically fixed for the term of the CD, unlike savings accounts, where your rate will adjust over time. Specialty CDs like bump-ups have rates that can adjust during the CD term.

Our Banking Experts