Best CD prices [Top Rates Updated Daily]


    Deposit Certificates (CDs) work like online savings accounts, money market accounts, and checking accounts to offer rewarding returns without risk. The difference is that CDs “lock up” your money for a period of time. In order to access your credit before the end of the term, you will have to pay a penalty.

    Although CDs offer less liquidity than a regular checking or savings account, you may get a higher return on this financial product. This is especially true if you are opening a CD account with a longer timeline. For example, a 60-month CD instead of a 12-month CD.

    According to the Federal Deposit Insurance Corporation (FDIC), national average CD rates range from 0.02% to 0.24% at the time of writing, depending on CD life.

    Quite a few banks, however, offer far better CD prices to consumers doing their research. We compared dozens of banks and financial institutions to find the best CD prices today. If you are looking for a high-yield CD, start your search here.

    Most important factors for CDs

    • CDs are used for long-term savings. Because CDs lock your credit on the account for a certain period of time (usually 12 to 60 months), they are not ideal for money that you may need short-term access.
    • CDs offer security for your money. Thanks to FDIC insurance, CD accounts are a safe place to keep your money and earn interest.
    • Check the CD fees. Most CDs charge fees if you need early access to your money. Make sure you understand these fees before opening this deposit account.
    • Online banks may offer better interest rates. Although brick and mortar banks have their own CDs, you may find better rates at online banks. Compare old banks and online institutions to find the best CD prices.

    The best CD prices of 2021

    If your goal is to secure a superior short-term investment, it is well worth exploring the best CD prices. To help you in your search, we compared many of the leading financial institutions and online banks to find options with the most attractive rates and terms. The banks listed below created our ranking based on the interest rates they offer and other characteristics.

    Best CD prices reviews

    There are a few factors to consider when choosing where to open a deposit slip. This includes whether you want to open your CD in person or online, the prices and terms that apply, and the fees required to get early access to your funds.

    The reviews below explain the CD prices for each of the top banks we profiled and other details that you should know about.


    BBVA offers a variety of popular banking products, including certificates of deposit. There are no monthly maintenance fees for the CDs and you can always monitor your account online or with the BBVA Mobile Banking app.

    CD maturities range from seven days to 15 years, and CDs with longer periods pay higher CD rates. Be aware that there will be penalties for accessing your funds early.

    If you cash out your CD early with a term of one year or less, you will pay $ 25 plus 1% of the amount withdrawn. If you pay out early on a CD with a longer term, you pay $ 25 plus 3% of the amount you pay out.

    CD prices: Online CDs with terms of 11 months to 36 months currently pay 0.05% APY.

    What is holding it back: In addition to the heavy fees charged for early withdrawal of your funds, BBVA has a minimum deposit amount of $ 500.

    CIT bank

    CIT Bank is known for its popular high-yield savings account known as the Savings Builder. However, it also offers a number of CDs with excellent conditions. The 11-month no-penalty CD is characterized by an excellent response rate. There are also no penalties for having to access your funds early.

    CIT Bank also offers Term CDs of various other lengths, as well as Jumbo CDs for deposits of USD 100,000 or more. None of the CDs contain fees for opening or maintaining an account.

    CD prices: The 11-month CD with no penalty from the CIT Bank pays 0.30% APY. Top prizes are offered on their four-year and five-year CDs that pay out 0.50% APY.

    What is holding it back: The CIT Bank has very few locations across the country. So the chances are that you need to open your account online. You also need to come up with a minimum of $ 1,000 to get started.


    With Discover you can open a CD that will last between three and 120 months. There are no fees for opening a CD, including account opening or maintenance fees.

    Discover also stands out for the reasonable penalties that are imposed if you need to access your funds early. CDs with a term of less than a year are punished with a penalty of three months of simple interest. For a CD that lasts one to four years, the early withdrawal penalty is only six months of simple interest.

    CD prices: The 120 month (10 year) CD is the most rewarding and currently offers 0.60% APY, but that’s a long wait. If you’re ready to part with your money for just two years, you can earn a rate of 0.50%.

    What is holding it back: The minimum deposit on Discover CDs is $ 2,500, which is a high barrier to entry.

    Marcus from Goldman Sachs

    Goldman Sachs’ Marcus is a popular online personal loan and high yield savings account bank, but they also offer great CDs. The term for the CDs ranges from six months to six years, with a minimum deposit of $ 500 required to get started.

    Goldman Sachs’s Marcus even offers a 10-day warranty that states that if the prices on the CD you purchased increase within 10 days, you can increase your price.

    CD prices: Some of the best Marcus by Goldman Sachs CD prices are for five- or six-year CDs that pay 0.60% APY. Goldman Sachs’s Marcus also has limited time specials on CD prices, such as: B. 0.65% on a nine month CD.

    What is holding it back: Goldman Sachs’ Marcus is an online bank only, so you will not have the option to open your CD in person.

    Synchronous bank

    We selected Synchrony Bank for our ranking because it does not impose a minimum balance requirement but has competitive CD prices. It offers a 15-day guarantee that allows you to increase your rate if the advertised rate increases within 15 days of purchasing your CD.

    The duration is three to 60 months. Early withdrawal fees for their CDs are also reasonable. For example, early disbursements on CDs with a term of 12 months or less charge 90 days simple interest at the current rate.

    CD prices: Five-year CDs (60 months) currently pay 0.80% APY, and four-year CDs (48 months) pay 0.65% APY.

    What is holding it back: Synchrony Bank CDs are designed to be opened and managed online. So you should consider another bank if you are hoping for a more personalized experience or if you prefer to do banking in person.

    How we found the best CD prices

    Finding the best CD rates is important if you are to maximize the return on your savings. However, there are other factors to consider before opening an account. In compiling this list of the banks with the best CD rates in 2021, we considered the following factors:

    CD prices and conditions

    Although we have preferred banks that apply the best interest rates on various CD terms, we have focused on banks that offer them at least a CD with an APY that is at least twice the average CD rate nationwide. BBVA didn’t do well in this category, but we did include it due to lack of account fees and reputation with major US financial institutions.

    Account fees

    We have only considered banks that do not charge any fees for opening a CD account. We have also selected banks that do not charge monthly account management fees.

    Early withdrawal penalties

    Most banks charge an early withdrawal fee when you withdraw your CD early. So we looked for banks with adequate penalties. We have also preferred accounts or CD options that have no early withdrawal fees.

    FDIC insurance

    After all, we have only included institutes in our ranking that offer FDIC insurance. This insurance secures CD funds up to $ 250,000 per account holder.

    What you need to know about payment slips

    If you’ve never opened a deposit slip, you may be wondering how they work and why people choose this option. Here are some important factors when considering a CD account.

    • CDs offer superior prices compared to other deposit products. According to the latest figures from the FDIC, the average national CD rate for a term of 60 months is approximately four times higher than the average national savings account rate.
    • Longer CDs offer better returns. Using your money for an extended period of time can result in significantly higher returns. FDIC data shows that the average annual rate for a month-long CD is only 0.02% – not much better than a basic savings account.
    • CD rates can go up or down over time. The CD rates are determined on the basis of the current interest rate environment including the reference interest rates. This means you may get a better CD rate every time the benchmark interest rates go up.
    • The CD rates may be higher for larger quantities. If you need to deposit $ 100,000 or more, you can qualify for a “Jumbo CD”. This type of CD requires a high minimum deposit, but banks are willing to pay higher APYs to tie up more money.

    Summary: Best CD Prices of 2021

    Best forAvailable CD conditionsBest price offered
    BBVALong term CD optionsSeven days to 15 years0.05% APY
    CIT bank11 month CD option with no penaltySix months to five years0.50% APY
    DiscoverReasonable penalties for early withdrawalsThree months to 10 years0.60% APY
    Marcus from Goldman SachsLow minimum deposit requirementSix months to six years0.65% APY
    Synchronous bank15 days tariff guaranteeThree months to five years0.80% APY


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