Best CD Rates in Delaware

Searching for the best CD rates in Delaware can be quite time consuming activity. With the state’s diverse banking landscape there are versatile options and opportunities that require navigation through a sea of interest rates, terms, and conditions.

Whether you’re a seasoned investor or a newcomer looking to grow your savings securely, finding the highest CD rates demands a blend of insights for Delaware’s financial Journey. Lets embark on this financial quest with us as we uncover the top CD rates awaiting discovery in the First State.

Overall Best CD rates in Delaware

No.	Name of the Bank	APY %	Term  Length	Address
1	DEXSTA Federal Credit Union	5.25%	18-month	110 Sandhill Dr Middletown, DE 19709
2	First State Refinery  Federal Credit Union	5.25%	18-month	118 Jestan Blvd New Castle, DE 19720
3	Pioneer Bank	4.80%	12-month	300 North Avenue, Easley, SC 29640
4	Bank of Ocean City	4.80%	24-month	10005 Golf Course Road, Ocean City, MD 21842
5	Discover Bank	4.70%	18-month	12 Reads Way New Castle, DE 19720
6	Barclays Bank Delaware	4.69%	18-month	125 S West St Wilmington, DE 19801
7	Eagle One Federal Credit Union	4.65%	18-month	3301 Philadelphia Pike PO Box 543 Claymont, DE 19703
8	Santander Bank, N.A.	4.64%	18-month	824 N Market St Wilmington, DE 19801
9	Wilmington Savings Fund Society, FSB	4.64%	18-month	1700 Rocky Run Pkwy Wilmington, DE 19803
10	Northern Trust	4.60%	18-month	50 South La Salle Street, Chicago, IL 60603
11	PenFed Credit Union	4.50%	18-month	Online
12	New Castle County Employees Federal Credit Union	4.50%	12-month	77 Reads Way, Suite 102, New Castle, DE 19720
13	County Bank	4.45%	18-month	140 Broadkill Rd Milton, DE 19968
14	First State Federal  Credit Union	4.41%	12-month	Online
15	Franklin  Mint Federal Credit Union	4.40%	18-month	50 Hillside Rd Wilmington, DE 19807
16	Delaware  State Police Federal Credit Union	4.00%	18-month	700 N Bedford St Georgetown, DE 19947
17	Del-One Federal Credit Union	3.93%	18-month	3100 Hawthorne Dr Dover, DE 19901
18	First  Federal Bank	3.93%	12-month	101 West 2nd Street, Suite 300, Dayton, OH 45402
19	American Momentum Bank	3.93%	3-month	4830 West Kennedy Boulevard, Suite 200, Tampa, FL 33609
20	Farmers  Bank of Willards	3.93%	3-month	10226 Old Ocean City Boulevard, Berlin, MD 21811
21	National  Bank of Delaware County	3.93%	6-month	Online
22	Sun  East Federal Credit Union	3.92%	18-month	3630 Concord Pike Wilmington, DE 19803
23	BankUnited	3.69%	12-month	Online
24	The Federal Savings Bank	3.59%	6-month	300 North Elizabeth Street, Suite 3E, Chicago, IL 60607
25	Provident Bank	3.50%	3-month	Online
26	Eastern Bank	3.44%	6-month	265 Franklin Street, Boston, MA 02110
27	Comerica Bank	3.44%	17-month	Online
28	OceanFirst Bank	3.35%	6-month	110 West Front Street, Red Bank, NJ 07701
29	First Federal Savings and Loan Association	3.35%	15-month	210 North Main Street, Newark, DE 19711
30	Wilmington Trust	3.35%	17-month	1100 North Market Street, Wilmington, DE 19890
31	First Shore Federal Savings and Loan  Association	3.21%	18-month	35742 Atlantic Ave Millville, DE 19967
32	Home Savings Bank of Wapakoneta	3.00%	6-month	12 West Auglaize Street, Wapakoneta, OH 45895
33	County  National Bank	3.00%	60-month	Online
34	County Bank	3.00%	48-month	19927 Shuttle Road, Rehoboth Beach, DE 19971
35	First Bank & Trust	2.96%	12-month	Online
36	Mid Penn Bank	2.75%	3-month	349 Union Street, Millersburg, PA 17061
37	Bryn  Mawr Trust	2.75%	6-month	801 Lancaster Avenue, Bryn Mawr, PA 19010
38	Chemung Canal Trust Company	2.75%	36-month	One Chemung Canal Plaza, Elmira, NY 14901
39	Calvin B. Taylor Banking Company of Berlin,  Maryland	2.70%	18-month	50 Atlantic Ave Ocean View, DE 19970
40	United Bank	2.70%	6-month	Online
41	Columbia Bank	2.60%	60-month	19-01 Route 208, Fair Lawn, NJ 07410
42	Community  Bank, N.A.	2.50%	12-month	Online
43	Fidelity Bank	2.50%	12-month	Online
44	First Midwest Bank	2.50%	6-month	8750 West Bryn Mawr Avenue, Chicago, IL 60631
45	Security National Bank	2.50%	6-month	Online
46	Pennsylvania  State Employees Credit Union (PSECU)	2.50%	36-month	Online
47	Sussex County Federal Credit Union	2.50%	48-month	1941 Bridgeville Highway, Seaford, DE 19973
48	Citibank, N.A.	2.47%	18-month	1 Penns Way New Castle, DE 19720
49	Great Southern Bank	2.47%	3-month	1451 East Battlefield, Springfield, MO 65804
50	The  First National Bank of Long Island	2.43%	12-month	10 Glen Head Road, Glen Head, NY 11545
51	Dover Federal Credit Union	2.33%	36-month	1075 Silver Lake Boulevard, Dover, DE 19904
52	Peoples Bank	2.08%	6-month	138 Putnam Street, Marietta, OH 45750
53	Republic Bank	2.08%	18-month	625 Liberty Avenue, Suite 2300, Pittsburgh, PA 15222
54	First Bank of Delaware	2.08%	60-month	100 South Charles Street, Tower II, Suite 100, Baltimore, MD 21201
55	Industrial Bank	1.90%	3-month	4812 Georgia Avenue NW, Washington, DC 20011
56	Glenmede Trust Company	1.90%	24-month	1650 Market Street, Suite 1200, Philadelphia, PA 19103
57	American Spirit Federal Credit Union	1.90%	6-month	1125 Philadelphia Pike, Wilmington, DE 19809
58	Delaware  State Police Federal Credit Union	1.05%	12-month	1463 Chestnut Grove Road, Dover, DE 19904
59	Beneficial Bank	0.25%	5-years	500 Delaware Avenue, Wilmington, DE 19801
60	Home Federal Savings Bank	0.16%	24-month	Online

Current CD Rates of Delaware

The current CD rates in Delaware play a significant role in helping individuals and businesses to optimize their savings and investment strategies. By offering competitive interest rates on certificates of deposit, financial institutions in Delaware provide opportunities for depositors to earn passive income while keeping their funds safe and secure. These rates vary across banks and credit unions, with factors such as deposit amount, term length, and market conditions influencing their fluctuations

Best 6 Month CD Rates

Investors seeking short-term growth opportunities in Delaware can explore financial institutions offering competitive rates for 6-month CDs.

1. First Internet Bank of Indiana

Minimum Amount: $1000.00

APY / Rate: 4.39% APY

Pros:

• Online-only CD options are available
• Highly competitive CD rates in a 1-year term
• Early withdrawal penalties are decent
• FDIC insured bank with investment covered to the max
• Terms ranging from 3 months to 5 years

Rules:

• Interest on CDs is compounded monthly and added to the account at the month’s end.
• Early withdrawal incurs a penalty amounting to:
  1- 90 days interest for a 3-month term
  2- 180 days interest for a 6-18 month term
  3- 365 days interest for 24-60 month term

2. Banesco USA

Minimum Amount: $1,500

APY Rate: 4.30% APY

Pros:

• Hispanic American-owned bank that supports local communities
• High APY for BanesGrow savings account
• Competitive CD rate
• Access your account 24/7 from desktop or mobile.
• All deposits are FDIC insured.

Rules:

• The account requires a $100 minimum deposit and carries a $15 monthly fee for balances below the $100 threshold.
• Interest earned may vary
• Consumers are limited to six withdrawals per month with a BanesGrow account.
• Transactions beyond the monthly withdrawal limit carry a $10 fee each.
• A $100 minimum deposit is required to open a BanesGrow account
• BaneSmart CDs offer high-yield interest in exchange for keeping your money in the bank long term.
•  CDs are available in five term lengths ranging from six months to 36 months.
• A $1,500 minimum deposit is required to open a CD account through the bank.

Best 1 Year CD Rates

With a focus on stability and moderate growth, individuals can jump for the best 1-year CD rates across Delaware’s banking landscape. These options offer a reliable way to earn interest on savings

1. Capital One

Minimum Amount: $0

APY / Rate: 5.00%

Pros:

• No minimum balance required
• Interest is paid end of the term, monthly,, or annually
• 5-minutes easy account opening process
• FDIC insured investment options

Rules:

• A CD account can be opened online by accessing the website if you are already a member of Capital One bank.
• Interest is accrued daily but paid and compounded monthly.
• Premature withdrawal from the CD is subject to a penalty.

2. CFG Community Bank

Minimum Amount: $500.00

APY / Rate: 5.00% APY

Pros:

• The high yield rate of interest
• A decent minimum amount required
• FDIC insured banking option
• Strong customer support system

Rules:

• To open a CD an investor can approach the bank online or in-branch.
• The minimum deposit allowed in a CD is $500 and the maximum limit is set at $250,000.
• The interest on the CD is compounded monthly.
• Premature withdrawal from the CD is subject to a penalty.

3.  BMO Harris

Minimum Amount: $1000

APY / Rate: 5.000%

Pros:

• Top-tier interest rates in CDs
• A decent minimum balance amount
• Secure banking over the telephone, online, or at the branch
• FDIC insured bank

Rules:

• CDs can be closed or funds can be withdrawn by contacting the branch.
• The amount is transferred to a BMO account or paid via check.
• There are no monthly maintenance fees, only a penalty charged on early withdrawal of the amount.
• A notice is sent to the CD holder when it matures and there is a grace period of 10 days to add more funds or withdraw the CD before it gets auto-renewed.

Best 3 Year CD Rates

Delaware residents can explore competitive options for 3-year CD rates also fpr the preferences. It strikes a balance between commitment and flexibility.

1. First Internet Bank of Indiana

Minimum Amount: $1000.00

APY / Rate: 4.39% APY

Pros:

• Online-only CD options are available
• Highly competitive CD rates in a 1-year term
• Early withdrawal penalties are decent
• FDIC insured bank with investment covered to the max
• Terms ranging from 3 months to 5 years

Rules:

• Interest on CDs is compounded monthly and added to the account at the month’s end.
• Early withdrawal incurs a penalty amounting to:
  1- 90 days interest for a 3-month term
  2- 180 days interest for a 6-18 month term
  3- 365 days interest for 24-60 month term

2.  Sallie Mae Bank

Minimum Amount: $2500

APY Rate: 3.75

Pros:

• Guaranteed returns
• FDIC insured
• Auto renewal option available
• High APY
• No monthly fee

Rules:

• Interest is calculated only when the minimum balance is maintained
• A penalty will be charged on early withdrawal
• Interest is compounded on a monthly basis

Best 5 Year CD Rates

Long-term investors in Delaware can find appealing opportunities with the best 5-year CD rates, offering a balance between stability and potential growth. extended investment horizon.

1.  CFG Community Bank

Minimum Amount: $500.00

APY / Rate: 4.50% APY

Pros:

• The high yield rate of interest
• A decent minimum amount required
• FDIC insured banking option
• Strong customer support system

Rules:

• To open a CD an investor can approach the bank online or in-branch.
• The minimum deposit allowed in a CD is $500 and the maximum limit is set at $250,000.
• The interest on the CD is compounded monthly.
• Premature withdrawal from the CD is subject to a penalty.

2. GTE Financial Credit Union

Minimum Amount: $500

APY / Rate: 4.54% APY

Pros:

• Open with as little as $500
• Some of the best rates in the nation
• Variety of term options
• Open online in minutes
• Federally insured by NCUA

Rules:

• No early withdrawals may be made during the first 60 days from opening the Share Certificate.
• Early withdrawals will be penalized anywhere from 90 to 180 days of earned dividends. Please review your Certificate disclosure for more details.
• There are no penalties for monthly dividend withdrawals. Early withdrawal penalties will apply if the certificate is closed before the maturity date.
• You can withdraw up to 10% of the principal plus dividends one time per year (20% of the current balance if over 59 1/2 years old) with no early withdrawal penalty on IRA certificates.
• Any monthly withdrawals or transfers reduce earnings.

Delaware Economic Statistics

In Delaware, investors and savers can benefit from a stable economic environment reflected in key statistics.

• With an average household income of approximately $65,627 and an average home value of around $252,800, according to data from the United States Census Bureau. Residents enjoy a solid financial foundation conducive to savings and investment growth.
• Additionally, Delaware’s population stands at approximately 989,948, contributing to a vibrant economy supported by diverse industries such as banking, healthcare, and technology.

Economic Statistics	Average
Average Income	$65,627
Average Home Value	$252,800
Population	989,948

Against this backdrop, investors seeking the best CD rates in Delaware can capitalize on the state’s robust economic indicators to make informed decisions about allocating their funds for optimal returns.

How to Get Best CD Rates in Delaware?

To secure the best CD rates in Delaware, consider the following steps:

1.Research Financial Institutions – Start by researching banks and credit unions in Delaware that offer CDs. Look for institutions known for competitive rates and favorable terms.

2. Compare Rates – Once you have identified potential institutions, compare their CD rates across different terms (6 months, 1 year, 2 years, etc.). Use online tools or visit the institutions’ websites to gather this information.

3.Consider Online Banks – Don’t limit your search to local brick-and-mortar banks. Online banks often offer competitive CD rates due to lower overhead costs. Be sure to explore options beyond traditional banks.

4.Evaluate Terms and Conditions – Beyond interest rates, consider the terms and conditions of each CD offer. Pay attention to minimum deposit requirements, early withdrawal penalties, and renewal options. Choose a CD that aligns with your financial goals and risk tolerance.

5.Monitor Promotions – Most of all, keep an eye out for promotional CD offers, which may feature higher rates or special terms for a limited time. Signing up for alerts or newsletters from banks can help you stay informed about such opportunities.

Apart from all this, it is better before committing to a CD to research the reputation of the financial institution. In this regard, look for customer reviews and ratings to gauge satisfaction levels with their services.

By following these steps and conducting thorough research, you can increase your chances of securing the best CD rates in Delaware that align with your financial objectives.

CD Rates Methodology

Our methodology for reviewing CD rates involved assessing offerings from 92 banks and financial institutions across Delaware.

After a comprehensive evaluation process, 60 institutions met the criteria to be included in the final list of best CD rates. This selection was based on factors such as competitiveness of rates, terms and conditions, customer satisfaction, and overall reputation.

By thoroughly reviewing a wide range of options, we aimed to provide readers with a comprehensive and reliable resource for finding the best CD rates in Delaware.

Conclusion

Overall, whether you are opting for a short-term CD or committing to a longer-term investment, individuals in Delaware have access to a range of options that cater to their financial goals. As market conditions evolve, staying informed and reassessing available rates on regular basis can help ensure continued financial growth.

FAQs