Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.
The average rate for a 3-month CD is 0.19% APY, and 0.83% APY for a 5-year CD, according to the FDIC.
Online banks and credit unions generally offer higher interest rates on CDs than large brick-and-mortar banks. One of the best online institutions for earning a high interest rate on CDs is Signature Federal Credit Union. Signature Federal Credit Union pays 1.50% to 4.50% on CD terms ranging from three months to five years. In comparison, Bank of America offers 0.03% on all fixed-term CD accounts.
We’ve reviewed over a dozen financial institutions to keep up with the newest rate offerings. Our best CDs guide can be a great resource for learning about CDs and their various features. But if you prioritize finding a competitive CD rate above all else, this list is for you.
Average CD rates vs. highest CD rates
The FDIC keeps tabs on national rates for bank accounts that pay interest, like savings accounts and CDs. For CDs, the average interest rate depends on the term you choose. You can use the table below to see how the most competitive CD rates compare to average CD rates.
Best CD interest rates
Comparing the highest CD rates
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Learn more
On Signature Federal Credit Union’s website
Learn more
On First National Bank of America’s website
Learn more
On First Internet Bank of Indiana’s website
Learn more
On Quorum Federal Credit Union’s website
Some of the institutions on our list are also top picks in our best CD guides. If you’re looking for a specific CD term, consider reviewing these posts, too:
That said, if you’re comfortable with a high initial deposit or becoming a member of a credit union, the following two CD options also might be suitable contenders — even though they aren’t featured in our best-of guides.
Signature Federal Credit Union Certificate
Annual Percentage Yield (APY)
1.50% to 4.50%
Minimum Deposit Amount
$500
Signature Federal Credit Union Certificate
Annual Percentage Yield (APY)
1.50% to 4.50%
Minimum Deposit Amount
$500
On Signature Federal Credit Union’s website
Details
Annual Percentage Yield (APY)
1.50% to 4.50%
Minimum Deposit Amount
$500
Pros & Cons
Highlights
Signature Federal Credit Union may be a good option if you’re specifically searching for a 3-year CD. The credit union has a limited-time offer where you can earn 4.50% APY on a 3-year term. If you’re looking for other CD terms, though, you might consider one of the other institutions on our list.
To open a Signature Federal Credit Union CD, you’ll have to become a member of the credit union. The easiest way to become a member is to enroll in the American Consumer Council. Then you’ll just need to open a savings account with $5.
Popular Direct Certificate of Deposit
Annual Percentage Yield (APY)
2.00% to 4.00%
Minimum Deposit Amount
$10,000
Popular Direct Certificate of Deposit
Annual Percentage Yield (APY)
2.00% to 4.00%
Minimum Deposit Amount
$10,000
On Popular Direct’s website
Details
Annual Percentage Yield (APY)
2.00% to 4.00%
Minimum Deposit Amount
$10,000
Pros & Cons
Highlights
Popular Direct CDs stand out because these accounts offer high interest rates on 3-month to 5-year CDs.
You’ll need at least $10,000 to open a CD. You’ll want to pay attention to the CD early withdrawal penalties, though, because some terms have high penalties.
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Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.
The average rate for a 3-month CD is 0.19% APY, and 0.83% APY for a 5-year CD, according to the FDIC.
Online banks and credit unions generally offer higher interest rates on CDs than large brick-and-mortar banks. One of the best online institutions for earning a high interest rate on CDs is Signature Federal Credit Union. Signature Federal Credit Union pays 1.50% to 4.50% on CD terms ranging from three months to five years. In comparison, Bank of America offers 0.03% on all fixed-term CD accounts.
We’ve reviewed over a dozen financial institutions to keep up with the newest rate offerings. Our best CDs guide can be a great resource for learning about CDs and their various features. But if you prioritize finding a competitive CD rate above all else, this list is for you.
Average CD rates vs. highest CD rates
The FDIC keeps tabs on national rates for bank accounts that pay interest, like savings accounts and CDs. For CDs, the average interest rate depends on the term you choose. You can use the table below to see how the most competitive CD rates compare to average CD rates.
Best CD interest rates
Comparing the highest CD rates
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Editor’s rating
Learn more
On Signature Federal Credit Union’s website
Learn more
On First National Bank of America’s website
Learn more
On First Internet Bank of Indiana’s website
Learn more
On Quorum Federal Credit Union’s website
Some of the institutions on our list are also top picks in our best CD guides. If you’re looking for a specific CD term, consider reviewing these posts, too:
That said, if you’re comfortable with a high initial deposit or becoming a member of a credit union, the following two CD options also might be suitable contenders — even though they aren’t featured in our best-of guides.
Signature Federal Credit Union Certificate
Annual Percentage Yield (APY)
1.50% to 4.50%
Minimum Deposit Amount
$500
Signature Federal Credit Union Certificate
Annual Percentage Yield (APY)
1.50% to 4.50%
Minimum Deposit Amount
$500
On Signature Federal Credit Union’s website
Details
Annual Percentage Yield (APY)
1.50% to 4.50%
Minimum Deposit Amount
$500
Pros & Cons
Highlights
Signature Federal Credit Union may be a good option if you’re specifically searching for a 3-year CD. The credit union has a limited-time offer where you can earn 4.50% APY on a 3-year term. If you’re looking for other CD terms, though, you might consider one of the other institutions on our list.
To open a Signature Federal Credit Union CD, you’ll have to become a member of the credit union. The easiest way to become a member is to enroll in the American Consumer Council. Then you’ll just need to open a savings account with $5.
Popular Direct Certificate of Deposit
Annual Percentage Yield (APY)
2.00% to 4.00%
Minimum Deposit Amount
$10,000
Popular Direct Certificate of Deposit
Annual Percentage Yield (APY)
2.00% to 4.00%
Minimum Deposit Amount
$10,000
On Popular Direct’s website
Details
Annual Percentage Yield (APY)
2.00% to 4.00%
Minimum Deposit Amount
$10,000
Pros & Cons
Highlights
Popular Direct CDs stand out because these accounts offer high interest rates on 3-month to 5-year CDs.
You’ll need at least $10,000 to open a CD. You’ll want to pay attention to the CD early withdrawal penalties, though, because some terms have high penalties.
