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Best CD Rates of October 2024

Review Updated
Kailey Hagen
Matt Frankel, CFP®

Our Banking Experts

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. APYs are subject to change at any time without notice.

While CD rates aren't directly linked to the federal funds rate, they tend to move in the same direction. Since the Fed cut rates at its Sept. 18th meeting, CD rates have begun falling slightly as well, but by a rather small amount.

This is likely the first of several rate cuts over the next year, meaning CD yields are unlikely to get any higher in the next few months. If you have cash sitting on the sidelines, now is a great time to lock into a high-yield CD.

We've evaluated over 100 banking institutions and found 9 CDs that we think are the best choice for you. See our top picks below.

  • Our team of experts assessed 100+ banking institutions
  • We evaluate all banking institutions across the same 4 key criteria: annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks
  • Our bank ratings are never influenced by our advertising partners
  • We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased

Robin Hartill, CFP®, is The Ascent’s Head of Product Ratings and has worked for The Motley Fool since 2020. Her work has appeared in various national publications, including Yahoo! Finance, NerdWallet, Investopedia, CNN Underscored, MSNBC, USA Today, and CNET Money. She previously wrote The Penny Hoarder’s syndicated “Dear Penny” personal finance advice column.

Here are three of our favorite CDs on the market. Click the links below to go straight to the issuer's website to learn more.

Ratings Methodology
Rates as of Oct. 15, 2024
Best CD rates of October 2024
Bank & CD Offer APY Term Min. Deposit Next Steps
APY: 3.80% Term: 1.5 Year Min. Deposit:  $2,500
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

APY: 3.75% Term: 1 Year Min. Deposit:  $0
Open Account for Barclays Online CD

On Barclays' Secure Website.

Member FDIC.
APY: 4.00% Term: 1 Year Min. Deposit:  $500
Open Account for

On Secure Website.

Member FDIC.
APY: 4.10% Term: 1 Year Min. Deposit:  $2,500
Open Account for LendingClub CD

On LendingClub's Secure Website.

APY: 4.10% Term: 1.5 Year Min. Deposit:  $500
Member FDIC.
APY: 3.85% Term: 2 Year Min. Deposit:  $1,500
Member FDIC.
APY: 4.25% Term: 1.5 Year Min. Deposit:  $1,000
APY: 3.50% Term: 5 Year Min. Deposit:  $0
APY: 4.95% Term: 6 Months Min. Deposit:  $500
APY: 5.02% Term: 1 Months Min. Deposit:  $1
Huntington Bank Standard CD
Member FDIC.
APY: 0.05% Term: 1 Months Min. Deposit:  $1,000
APY: 4.45% Term: 1 Months Min. Deposit:  $1
Flushing Bank CD
Member FDIC.
APY: 4.75% Term: 3 Months Min. Deposit:  $1,000
Member FDIC.
APY: 5.51% Term: 3 Months Min. Deposit:  $1,000
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 3 Months Min. Deposit:  $500
APY: 3.71% Term: 3 Months Min. Deposit:  $10,000
APY: 3.00% Term: 3 Months Min. Deposit:  $0
APY: 3.00% Term: 3 Months Min. Deposit:  $500
APY: 2.00% Term: 3 Months Min. Deposit:  $2,500
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

Huntington Bank Standard CD
Member FDIC.
APY: 0.05% Term: 3 Months Min. Deposit:  $1,000
APY: 5.02% Term: 3 Months Min. Deposit:  $1
APY: 4.45% Term: 3 Months Min. Deposit:  $1
APY: 4.05% Term: 3 Months Min. Deposit:  $1
Open Account for

On Secure Website.

APY: up to 2.51% Term: 3 Months Min. Deposit:  $2,500
Member FDIC.
APY: up to 4.75% Term: 3 Months Min. Deposit:  $1,000
Member FDIC.
APY: 5.10% Term: 3 Months Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 5.25% Term: 5 Months Min. Deposit:  $5,000 or $10,000, depending on term
APY: 4.90% Term: 5 Months Min. Deposit: 
APY: 5.50% Term: 5 Months Min. Deposit:  $2,500
Generations Bank CD
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $1,000
APY: 4.75% Term: 6 Months Min. Deposit: 
Member FDIC.
APY: 0.05% Term: 6 Months Min. Deposit:  $1,000
APY: 5.21% Term: 6 Months Min. Deposit:  $1
Fidelity CD
Member FDIC.
APY: 5.25% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $500
APY: 3.00% Term: 6 Months Min. Deposit:  $500
Valley Bank CD
Member FDIC.
APY: 4.75% Term: 6 Months Min. Deposit:  $500
Member FDIC.
APY: Up to 4.80% Term: 6 Months Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.35% Term: 6 Months Min. Deposit:  $1,000
APY: 4.20% Term: 6 Months Min. Deposit:  $0
APY: 4.00% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 3.00% Term: 6 Months Min. Deposit:  $1,000
APY: 4.24% Term: 6 Months Min. Deposit:  $10,000
APY: 4.20% Term: 6 Months Min. Deposit:  $0
Vanguard Brokered CD
Member FDIC.
APY: 5.25% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 4.80% Term: 6 Months Min. Deposit:  $2,500
Open Account for LendingClub CD

On LendingClub's Secure Website.

APY: 3.90% Term: 6 Months Min. Deposit:  $2,500
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

Member FDIC.
APY: 4.60% Term: 6 Months Min. Deposit:  $500
Open Account for

On Secure Website.

APY: 4.30% Term: 6 Months Min. Deposit:  $500
APY: 4.92% Term: 6 Months Min. Deposit:  $1
Member FDIC.
APY: 5.00% Term: 6 Months Min. Deposit:  $1,000
APY: 4.70% Term: 6 Months Min. Deposit:  $500
APY: 4.50% Term: 6 Months Min. Deposit:  $10,000
APY: 4.00% Term: 6 Months Min. Deposit:  $1
Member FDIC.
APY: 3.00% Term: 6 Months Min. Deposit:  $1,000
Open Account for CIT Bank CD

On CIT's Secure Website.

APY: 4.20% Term: 6 Months Min. Deposit:  $1
APY: 4.60% Term: 6 Months Min. Deposit:  $0
Republic Bank of Chicago CD
Member FDIC.
APY: 0.50% Term: 6 Months Min. Deposit:  $1,000
APY: 4.55% Term: 6 Months Min. Deposit:  $2,500
First Tech CD
APY: up to 4.91% Term: 6 Months Min. Deposit:  $500
Member FDIC.
APY: 5.47% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 1.00% - 5.00% Term: 6 Months Min. Deposit:  $250.00
APY: up to 2.51% Term: 6 Months Min. Deposit:  $2,500
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 6 Months Min. Deposit:  $1,000
APY: 3.75% Term: 6 Months Min. Deposit:  $1
Open Account for

On Secure Website.

NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.80% Term: 6 Months Min. Deposit:  $1,000
Member FDIC.
APY: 5.30% Term: 6 Months Min. Deposit:  $1,000
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 6 Months Min. Deposit:  $500
First National Bank Special CD
Member FDIC.
APY: 5.00% Term: 7 Months Min. Deposit:  $5,000 or $10,000, depending on term
APY: 5.00% Term: 7 Months Min. Deposit: 
Member FDIC.
APY: 5.01% Term: 7 Months Min. Deposit:  $500
Huntington Bank Promotional CD
Member FDIC.
APY: 5.13% Term: 7 Months Min. Deposit:  $1,000
APY: 4.75% Term: 7 Months Min. Deposit:  $500
Member FDIC.
APY: 5.25% Term: 7 Months Min. Deposit:  $1,000
Open Account for Ponce Bank CDs

On Ponce Bank's Secure Website.

APY: up to 4.75% Term: 7 Months Min. Deposit:  $2,500
APY: 4.30% Term: 9 Months Min. Deposit:  $500
APY: 4.86% Term: 9 Months Min. Deposit:  $1
APY: 4.00% Term: 9 Months Min. Deposit:  $2,500
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

Member FDIC.
APY: 5.30% Term: 9 Months Min. Deposit:  $1,000
APY: 4.25% Term: 9 Months Min. Deposit:  $10,000
APY: 3.65% Term: 9 Months Min. Deposit:  $1
Member FDIC.
APY: 4.90% Term: 9 Months Min. Deposit:  $1,000
NASA Federal Credit Union High-Yield Certificate
Federally insured by NCUA.
APY: 4.99% Term: 9 Months Min. Deposit:  $10,000
APY: 4.60% Term: 9 Months Min. Deposit:  $2,500
Member FDIC.
APY: up to 4.50% Term: 9 Months Min. Deposit:  $1,000
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 9 Months Min. Deposit:  $1,000
Member FDIC.
APY: 3.75% Term: 9 Months Min. Deposit:  $500
APY: 3.00% Term: 9 Months Min. Deposit:  $1
Open Account for

On Secure Website.

APY: 4.50% Term: 9 Months Min. Deposit:  $0
Flushing Bank CD
Member FDIC.
APY: 3.75% Term: 9 Months Min. Deposit:  $1,000
Member FDIC.
APY: 4.70% Term: 10 Months Min. Deposit:  $2,500
Open Account for

On Secure Website.

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: 4.37% Term: 1 Year Min. Deposit:  $10,000
APY: 4.35% Term: 1 Year Min. Deposit:  $0
APY: 4.30% Term: 1 Year Min. Deposit:  $500
APY: 4.76% Term: 1 Year Min. Deposit:  $1
Member FDIC.
APY: 4.50% Term: 1 Year Min. Deposit:  $500
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 1 Year Min. Deposit:  $500
APY: 4.50% Term: 1 Year Min. Deposit:  $500
APY: 4.40% Term: 1 Year Min. Deposit:  $0
Member FDIC.
APY: 5.05% Term: 1 Year Min. Deposit:  $1,000
Generations Bank CD
Member FDIC.
APY: 5.20% Term: 1 Year Min. Deposit:  $1,000
APY: 4.70% Term: 1 Year Min. Deposit:  $2,500
APY: 4.10% Term: 1 Year Min. Deposit:  $2,500
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

Member FDIC.
APY: 1.00% - 4.75% Term: 1 Year Min. Deposit:  $250.00
APY: 4.20% Term: 1 Year Min. Deposit:  $500
Connexus Credit Union Share CD
APY: up to 4.96% Term: 1 Year Min. Deposit:  $5,000
APY: 4.00% Term: 1 Year Min. Deposit:  $1
Member FDIC.
APY: 4.90% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.25% Term: 1 Year Min. Deposit:  $1,000
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.40% Term: 1 Year Min. Deposit:  $1,000
Republic Bank of Chicago CD
Member FDIC.
APY: 0.75% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.40% Term: 1 Year Min. Deposit:  $1,500
Vanguard Brokered CD
Member FDIC.
APY: 5.40% Term: 1 Year Min. Deposit:  $1,000
First Tech CD
APY: up to 4.55% Term: 1 Year Min. Deposit:  $500
Member FDIC.
APY: 5.00% Term: 1 Year Min. Deposit:  $5,000
Flushing Bank CD
Member FDIC.
APY: 4.00% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.00% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.75% to 3.75% Term: 1 Year Min. Deposit:  $500
APY: 4.10% Term: 1 Year Min. Deposit:  $1,000
APY: 3.75% Term: 1 Year Min. Deposit:  $1
Member FDIC.
APY: 2.00% Term: 1 Year Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 5.05% Term: 1 Year Min. Deposit:  $1,000
APY: 4.75% Term: 1 Year Min. Deposit: 
APY: 1.50% 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:  $0
APY: 4.00% Term: 1 Year Min. Deposit:  $10,000
Member FDIC.
APY: 4.25% Term: 1 Year Min. Deposit:  $1,000
APY: 4.20% Term: 1 Year Min. Deposit:  $0
APY: 3.00% Term: 1 Year Min. Deposit:  $1
Open Account for

On Secure Website.

Member FDIC.
APY: 5.40% Term: 1 Year Min. Deposit:  $1,000
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: Up to 4.30% Term: 1 Year Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.42% Term: 1 Year Min. Deposit:  $1,000
SchoolsFirst Federal Credit Union CD
Federally insured by NCUA.
APY: 5.00% Term: 13 Months Min. Deposit:  $500
Republic Bank of Chicago CD
Member FDIC.
APY: 4.33% Term: 13 Months Min. Deposit:  $1,000
Member FDIC.
APY: 4.00% Term: 13 Months Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 4.60% Term: 13 Months Min. Deposit:  $5,000 or $10,000, depending on term
APY: 5.15% Term: 13 Months Min. Deposit: 
Member FDIC.
APY: 3.50% Term: 13 Months Min. Deposit:  $1,000
Open Account for CIT Bank CD

On CIT's Secure Website.

NASA Federal Credit Union High-Yield Certificate
Federally insured by NCUA.
APY: 4.54% Term: 15 Months Min. Deposit:  $10,000
Member FDIC.
APY: 4.00% Term: 15 Months Min. Deposit:  $500
Federally insured by NCUA.
APY: 5.10% Term: 16 Months Min. Deposit:  $500
Member FDIC.
APY: 3.95% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.15% Term: 1.5 Year Min. Deposit:  $1,000
APY: 3.25% Term: 1.5 Year Min. Deposit:  $0
APY: 4.10% Term: 1.5 Year Min. Deposit:  $0
Republic Bank of Chicago CD
Member FDIC.
APY: 1.00% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.75% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.50% 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
APY: 1.50% Term: 1.5 Year Min. Deposit:  $500
APY: 4.25% Term: 1.5 Year Min. Deposit:  $0
Member FDIC.
APY: 1.70% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.40% Term: 1.5 Year Min. Deposit:  $2,500
Open Account for LendingClub CD

On LendingClub's Secure Website.

APY: 4.50% Term: 1.5 Year Min. Deposit:  $500
APY: 3.50% Term: 1.5 Year Min. Deposit:  $10,000
APY: 4.35% Term: 1.5 Year Min. Deposit:  $2,500
Vanguard Brokered CD
Member FDIC.
APY: 5.40% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 3.00% Term: 1.5 Year Min. Deposit:  $1,000
Open Account for CIT Bank CD

On CIT's Secure Website.

APY: 4.24% Term: 1.5 Year Min. Deposit:  $1
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 1.5 Year Min. Deposit:  $500
APY: 3.98% Term: 1.5 Year Min. Deposit:  $10,000
Fidelity CD
Member FDIC.
APY: 5.00% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.00% Term: 1.5 Year Min. Deposit:  $500
APY: 3.25% Term: 1.5 Year Min. Deposit:  $0
Open Account for Barclays Online CD

On Barclays' Secure Website.

Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 1.5 Year Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 4.15% Term: 1.5 Year Min. Deposit:  $1,000
APY: 4.00% Term: 1.5 Year Min. Deposit:  $500
APY: 3.70% Term: 1.5 Year Min. Deposit:  $1,000
APY: 3.90% Term: 1.5 Year Min. Deposit:  $0
First National Bank Special CD
Member FDIC.
APY: 3.50% Term: 19 Months Min. Deposit:  $5,000 or $10,000, depending on term
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 2 Year Min. Deposit:  $1,000
APY: 3.90% Term: 2 Year Min. Deposit:  $500
APY: 3.75% Term: 2 Year Min. Deposit:  $500
APY: 3.60% Term: 2 Year Min. Deposit:  $2,500
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

APY: 4.15% Term: 2 Year Min. Deposit:  $500
APY: 3.00% Term: 2 Year Min. Deposit:  $0
Open Account for Barclays Online CD

On Barclays' Secure Website.

Member FDIC.
APY: 3.85% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 3.35% Term: 2 Year Min. Deposit:  $500
Open Account for

On Secure Website.

Valley Bank CD
Member FDIC.
APY: 4.00% Term: 2 Year Min. Deposit:  $500
First Internet Bank of Indiana CD
Member FDIC.
APY: 3.93% Term: 2 Year Min. Deposit:  $1,000
APY: 3.50% Term: 2 Year Min. Deposit:  $10,000
Flushing Bank CD
Member FDIC.
APY: 3.75% Term: 2 Year Min. Deposit:  $1,000
APY: 4.05% Term: 2 Year Min. Deposit:  $2,500
Member FDIC.
APY: 2.50% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: Up to 3.55% Term: 2 Year Min. Deposit:  $1,000
APY: 3.70% Term: 2 Year Min. Deposit:  $1,000
Republic Bank of Chicago CD
Member FDIC.
APY: 1.25% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.50% Term: 2 Year Min. Deposit:  $1,000
APY: 3.90% Term: 2 Year Min. Deposit:  $0
First Tech CD
APY: up to 2.25% Term: 2 Year Min. Deposit:  $500
Member FDIC.
APY: 0.05% Term: 2 Year Min. Deposit:  $250.00
Member FDIC.
APY: 4.15% Term: 2 Year Min. Deposit:  $2,500
Open Account for LendingClub CD

On LendingClub's Secure Website.

Fidelity CD
Member FDIC.
APY: 4.90% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.25% Term: 2 Year Min. Deposit:  $1,000
APY: 1.50% Term: 2 Year Min. Deposit:  $500
APY: 4.25% Term: 2 Year Min. Deposit: 
Connexus Credit Union Share CD
APY: up to 4.58% Term: 2 Year Min. Deposit:  $5,000
Generations Bank CD
Member FDIC.
APY: 4.24% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 1.50% Term: 2 Year Min. Deposit:  $1,000
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
APY: 3.70% Term: 2 Year Min. Deposit:  $0
APY: 4.00% Term: 2 Year Min. Deposit:  $0
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.10% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.00% Term: 2 Year Min. Deposit:  $5,000
Member FDIC.
APY: 3.00% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.00% Term: 2 Year Min. Deposit:  $500
Vanguard Brokered CD
Member FDIC.
APY: 5.35% Term: 2 Year Min. Deposit:  $1,000
APY: 3.55% Term: 2 Year Min. Deposit:  $10,000
APY: 4.03% Term: 2 Year Min. Deposit:  $1
Member FDIC.
APY: 3.75% Term: 25 Months Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 3.50% Term: 25 Months Min. Deposit:  $5,000 or $10,000, depending on term
APY: 1.50% Term: 30 Months Min. Deposit:  $500
APY: 3.50% Term: 30 Months Min. Deposit:  $1,000
APY: 3.50% Term: 30 Months Min. Deposit:  $2,500
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 35 Months Min. Deposit:  $5,000 or $10,000, depending on term
Member FDIC.
APY: 3.75% Term: 35 Months Min. Deposit:  $1,000
APY: 3.00% Term: 3 Year Min. Deposit:  $0
Member FDIC.
APY: 1.40% Term: 3 Year Min. Deposit:  $1,000
APY: 3.00% Term: 3 Year Min. Deposit:  $0
Open Account for Barclays Online CD

On Barclays' Secure Website.

NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.00% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 3.25% Term: 3 Year Min. Deposit:  $500
Open Account for

On Secure Website.

First Tech CD
APY: up to 2.45% Term: 3 Year Min. Deposit:  $500
APY: 3.90% Term: 3 Year Min. Deposit:  $500
Republic Bank of Chicago CD
Member FDIC.
APY: 1.50% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 3.50% Term: 3 Year Min. Deposit:  $1,500
Member FDIC.
APY: 3.00% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 0.05% Term: 3 Year Min. Deposit:  $250.00
Member FDIC.
APY: 4.80% Term: 3 Year Min. Deposit:  $1,000
APY: 3.50% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 3.35% Term: 3 Year Min. Deposit:  $5,000
Vanguard Brokered CD
Member FDIC.
APY: 5.35% Term: 3 Year Min. Deposit:  $1,000
Fidelity CD
Member FDIC.
APY: 4.80% Term: 3 Year Min. Deposit:  $1,000
APY: 3.60% Term: 3 Year Min. Deposit:  $0
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 3 Year Min. Deposit:  $500
APY: 4.00% Term: 3 Year Min. Deposit:  $500
APY: 4.00% Term: 3 Year Min. Deposit:  $2,500
APY: 3.44% Term: 3 Year Min. Deposit:  $10,000
APY: 4.00% Term: 3 Year Min. Deposit:  $0
APY: 3.50% Term: 3 Year Min. Deposit:  $2,500
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

Member FDIC.
APY: 3.60% Term: 3 Year Min. Deposit:  $1,000
APY: 3.60% Term: 3 Year Min. Deposit:  $0
APY: 3.75% Term: 3 Year Min. Deposit: 
APY: 2.00% Term: 3 Year Min. Deposit:  $10,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 3.77% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.50% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.00% Term: 3 Year Min. Deposit:  $2,500
Open Account for LendingClub CD

On LendingClub's Secure Website.

Huntington Bank Standard CD
Member FDIC.
APY: 0.10% 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
Member FDIC.
APY: 4.65% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: up to 1.75% Term: 37 Months Min. Deposit:  $1,000
Member FDIC.
APY: 3.80% Term: 45 Months Min. Deposit:  $1,000
Member FDIC.
APY: 3.50% Term: 4 Year Min. Deposit:  $1,500
APY: 2.25% Term: 4 Year Min. Deposit:  $10,000
Member FDIC.
APY: 3.40% Term: 4 Year Min. Deposit:  $5,000
APY: 3.50% Term: 4 Year Min. Deposit:  $1,000
APY: 1.61% Term: 4 Year Min. Deposit:  $1
APY: 3.75% Term: 4 Year Min. Deposit:  $500
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 3.85% Term: 4 Year Min. Deposit:  $1,000
APY: 3.00% Term: 4 Year Min. Deposit:  $0
APY: 3.40% Term: 4 Year Min. Deposit:  $2,500
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

First Internet Bank of Indiana CD
Member FDIC.
APY: 3.62% Term: 4 Year Min. Deposit:  $1,000
Vanguard Brokered CD
Member FDIC.
APY: 5.25% Term: 4 Year Min. Deposit:  $1,000
Republic Bank of Chicago CD
Member FDIC.
APY: 1.50% Term: 4 Year Min. Deposit:  $1,000
APY: 3.55% Term: 4 Year Min. Deposit:  $0
Member FDIC.
APY: 1.35% Term: 4 Year Min. Deposit:  $1,000
APY: 4.00% Term: 4 Year Min. Deposit:  $0
Member FDIC.
APY: 4.55% Term: 4 Year Min. Deposit:  $1,000
APY: 3.34% Term: 4 Year Min. Deposit:  $10,000
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 4 Year Min. Deposit:  $500
APY: 3.00% Term: 4 Year Min. Deposit:  $0
Open Account for Barclays Online CD

On Barclays' Secure Website.

Member FDIC.
APY: 4.75% Term: 4 Year Min. Deposit:  $1,000
APY: 3.85% Term: 4 Year Min. Deposit:  $500
Member FDIC.
APY: 3.40% Term: 4 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.50% Term: 4 Year Min. Deposit:  $1,000
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 4 Year Min. Deposit:  $1,000
APY: 3.49% Term: 4 Year Min. Deposit: 
Fidelity CD
Member FDIC.
APY: 4.55% Term: 4 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.00% Term: 4 Year Min. Deposit:  $500
NASA Federal Credit Union High-Yield Certificate
Federally insured by NCUA.
APY: 4.09% Term: 49 Months Min. Deposit:  $10,000
First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 52 Months Min. Deposit:  $5,000 or $10,000, depending on term
Member FDIC.
APY: 3.90% Term: 59 Months Min. Deposit:  $1,000
Member FDIC.
APY: 3.25% Term: 5 Year Min. Deposit:  $1,000
APY: 3.00% Term: 5 Year Min. Deposit:  $0
Member FDIC.
APY: 3.50% Term: 5 Year Min. Deposit:  $1,500
APY: 3.29% Term: 5 Year Min. Deposit:  $10,000
APY: 3.40% Term: 5 Year Min. Deposit:  $2,500
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

APY: 3.50% Term: 5 Year Min. Deposit:  $1,000
First Internet Bank of Indiana CD
Member FDIC.
APY: 3.67% Term: 5 Year Min. Deposit:  $1,000
APY: 3.80% Term: 5 Year Min. Deposit:  $500
Member FDIC.
APY: 2.00% Term: 5 Year Min. Deposit:  $500
APY: 3.85% Term: 5 Year Min. Deposit:  $2,500
APY: 3.49% Term: 5 Year Min. Deposit: 
Fidelity CD
Member FDIC.
APY: 4.50% Term: 5 Year Min. Deposit:  $1,000
APY: 3.60% Term: 5 Year Min. Deposit:  $0
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 3.75% Term: 5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 3.00% Term: 5 Year 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: 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
Member FDIC.
APY: 1.35% Term: 5 Year Min. Deposit:  $1,000
APY: 1.50% Term: 5 Year Min. Deposit:  $500
Member FDIC.
APY: 4.65% Term: 5 Year Min. Deposit:  $1,000
APY: 3.25% Term: 5 Year Min. Deposit:  $0
Open Account for Barclays Online CD

On Barclays' Secure Website.

Member FDIC.
APY: 2.50% Term: 5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 3.40% Term: 5 Year Min. Deposit:  $2,500
Open Account for LendingClub CD

On LendingClub's Secure Website.

APY: 2.25% Term: 5 Year Min. Deposit:  $10,000
Member FDIC.
APY: 3.00% Term: 5 Year Min. Deposit:  $500
Open Account for

On Secure Website.

Member FDIC.
APY: 3.45% Term: 5 Year Min. Deposit:  $5,000
APY: 3.75% Term: 5 Year Min. Deposit:  $500
First Tech CD
APY: up to 3.55% Term: 5 Year Min. Deposit:  $500
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 5 Year Min. Deposit:  $1,000
APY: 4.00% Term: 5 Year Min. Deposit:  $0
Republic Bank of Chicago CD
Member FDIC.
APY: 1.50% Term: 5 Year Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 61 Months Min. Deposit:  $5,000 or $10,000, depending on term
Member FDIC.
APY: up to 2.00% Term: 61 Months Min. Deposit:  $1,000
APY: 1.50% Term: 6 Year Min. Deposit:  $500
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 6 Year Min. Deposit:  $1,000
APY: 3.75% Term: 6 Year Min. Deposit:  $500
APY: 3.40% Term: 7 Year Min. Deposit:  $2,500
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

APY: 3.40% Term: 10 Year Min. Deposit:  $2,500
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

  • 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 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.

A closer look at our top CDs

Best for creating a CD ladder: Discover® Bank CD

Why we think this is best for creating a CD ladder: Discover offers a broader range of CD terms than many of its competitors. This gives you the flexibility to build CD ladders of just about any length, ranging from a few months to several years.

What you need to know before opening an account: Its $2,500 minimum deposit is a little steeper than what some of its competitors require. This could be a barrier to those with small sums to deposit.

Read our Discover® Bank CD Review

Best for high balances: LendingClub CD

Why we think this is best for high balances: LendingClub's $2,500 minimum deposit requirement is higher than what many of its competitors require. But those able to pull it off get rewarded with competitive rates on CDs of all term lengths.

What you need to know before opening an account: LendingClub CDs come with a 10-day grace period where you can withdraw your cash penalty free if you change your mind about the account.

Read our LendingClub CD Review

Best for no minimum deposits: Barclays Online CD

Why we think this is best for no minimum deposits: Barclays is one of the few top banks that doesn't require a minimum deposit to open a CD. That makes it a great option for people with all levels of savings, but especially those with only a few hundred dollars.

What you need to know before opening an account: Barclays rates are a little behind some of its competitors. However, they're still well above the national average.

Read our Barclays Online CD Review

Best for unique banking perks: Quontic CD

Why we think this is best for unique banking perks: Quontic offers strong online and mobile tools for managing your account, including the option to open your CD in three minutes or less. Its mobile app also comes with tools to help you manage many aspects of your financial life.

What you need to know before opening an account: Though Quontic offers most popular CD terms, it's missing a 4-year CD. So it may not be the best option for those seeking to build a long-term CD ladder.

Read our Quontic CD Review

Best for banking convenience: Capital One 360 CD

Why we think this is best for banking convenience: Capital One offers strong online and mobile tools, but it also has some branches for those who prefer traditional banking. Its CDs also don't have a minimum deposit requirement, so applying for one is pretty straightforward.

What you need to know before opening an account: Capital One has above-average rates on all of its CDs, but its long-term CD rates tend to be more competitive than its short-term rates.

Read our Capital One 360 CD Review

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

Why we think this is best for a variety of term lengths: Marcus by Goldman Sachs has CD term lengths ranging from six months to six years. This is a larger range than what most banks offer, making it a good fit for those seeking to build CD ladders.

What you need to know before opening an account: Marcus's CDs come with a 10-day rate guarantee. If rates increase within 10 days of account opening, Marcus will give you the higher rate.

Read our Marcus by Goldman Sachs High Yield CD Review

Best for high renewal rates: Bread Savings CD

Why we think this is best for high renewal rates: Bread Savings CDs incentivize customers to renew at the end of the term by offering renewal rates, which are higher than the rates for new CD owners. This could be the right fit for those who don't want to continually move their money between banks chasing after the highest rates.

What you need to know before opening an account: Its $1,500 minimum deposit requirement is a little steeper than what some other banks require. This could be a hindrance to those hoping to build a CD ladder.

Read our Bread Savings CD Review

Best for monthly dividend withdrawal option: Alliant CD

Why we think this is best for monthly dividend withdrawal option: Alliant is somewhat unique in allowing customers to receive their monthly interest payments as a dividend rather than waiting until the end of the term to get them. This may appeal to those who want more immediate rewards, especially on long-term CDs.

What you need to know before opening an account: Going with the dividend option will lead to lower interest payments overall. When you leave the interest in your account, you earn interest on that interest the following month. This won't happen if you're withdrawing that interest as dividends.

Read our Alliant CD Review

Best for medium-term CDs: Prime Alliance Bank CD

Why we think this is best for medium-term CDs: Prime Alliance Bank has strong CD rates on all term lengths, but its medium-term CDs -- those with terms between one and three years -- are some of its most competitive offers.

What you need to know before opening an account: There is a $500 minimum deposit requirement, but this is pretty reasonable compared to what some of its competitors require.

How to choose the right CD for you

Here are some of the things to keep an eye out for:

  • A high APY: This tells you 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 early. Check the CD's fee schedule to learn how big the penalty is.
  • Low or no fees: Fees with high-yield CDs aren't common (except for early withdrawal penalties), but it's always good to check.

Other CD term lengths to consider

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 in this case, as savings account yields fluctuate over time while CD yields are guaranteed for the entire term.

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

How will CD rates change in 2024?

To be clear, nobody can predict future CD rates with 100% 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 one possible 25 basis point (0.25%) cut in September 2024. 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 before the end of 2024, but the drop probably won't be substantial.

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. 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.

Pros and cons of CDs

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, per account ownership category.
  • 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.

Alternatives to CDs

CDs are appealing if you're trying to earn a high APY on your savings, but being unable to 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

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).

Money market accounts

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.

Compare savings rates

Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.

Account APY Promotion Next Steps
4.10%
Rate info Circle with letter I in it. 4.10% annual percentage yield as of October 15, 2024
Min. to earn: $0
N/A
Open Account for American Express® High Yield Savings

On American Express's Secure Website.

up to 4.30%²
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!¹
4.10%
Rate info Circle with letter I in it. See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Sept. 27, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
N/A

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 Bank, Bread Financial, Capital One, Carver Federal Savings Bank, Charles Schwab Bank, Chase, Chime, CIT, Citibank, Citizens, 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, Jenius Bank, 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, My Banking Direct, NASA Federal Credit Union, Nationwide Bank, Navy Federal Credit Union, NBKC Bank, New York Community Bank, NexBank, 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 4.50% APY, it would make $450. 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.