Best CD Rates in Florida
Vikram Singh
Best 6-Month CD Rates in Florida

Bank or Credit Union Name: Bask Bank
Minimum Amount: $1000.00
APY / Rate: 4.45% APY
Pros:
- FDIC Approved Bank
- Terms available from 6-24 months
- Top-tier APY rate with secured return guaranteed
- Customer-friendly terms
Rules:
- New customers have to open an account with the bank before investing in Bask Bank’s CDs.
- CDs can be opened at the bank as well as online
- The minimum deposit amount of $1000 must be deposited to the account within 10 days of account opening
- Early withdrawal is subject to a penalty.
- Investors can withdraw the interest credited to the account without any penalty.
- There is a 10 days grace period after maturity to make additional deposits to the CD.

Bank or Credit Union Name: 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.

Bank or Credit Union Name: 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.
Best 12-Month CD Rates in Florida

Bank or Credit Union Name : Quontic
Minimum Amount: $500.00
APY / Rate: 4.45% APY
Pros:
- An APY that’s over 3x higher than the national average2
- Guaranteed returns – Once your CD is opened, the rate is locked in for the full year
- Interest compounded daily
- No monthly service fee
- FDIC insured to the maximum legal limits
Rules:
- Minimum balance: Some Quontic Bank accounts may require you to maintain a certain minimum balance to earn the advertised interest rate. If your balance falls below the minimum, you may earn a lower interest rate or be subject to monthly fees.
- Direct deposit: Some Quontic Bank accounts may require you to set up direct deposit to qualify for the best interest rates.
- Transactions: Some Quontic Bank accounts may have transaction requirements. For example, you may need to make a certain number of transactions each month to earn the advertised interest rate.
- Fees: Some Quontic Bank accounts may charge fees, such as monthly maintenance fees or transaction fees. You’ll want to review the account terms to understand any fees that may apply.

Bank or Credit Union Name: Synchrony Bank
Minimum Amount: $0.00
APY / Rate: 4.30% APY
Pros:
- Best APY rate
- No minimum balance required
- High-yield savings options
- No penalty on premature interest withdrawal
- 10 days grace period after maturity to add more funds to the CD
Rules:
- The interest is compounded monthly and added to the account at the end of the month.
- There is no minimum balance required to earn interest.
- Also no penalty on premature withdrawals.

Bank or Credit Union Name: BMO Harris
Minimum Amount: $1000
APY / Rate: 4.50%
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 2 Years CD Rates in Florida

Bank or Credit Union Name: America First Credit Union
Minimum Amount: $500.00
APY / Rate: 4.75% APY
Pros:
- Low minimum deposits and high yields
- Automatic renewals
- NCUA insured up to $250,000
- Terms from three months to five years
Rules:
- To open a CD with AFCU, you must deposit a minimum amount of money, which varies depending on the term length of the CD. For example, as of February 2023, the minimum deposit for a 6-month CD is $500, while the minimum deposit for a 60-month CD is $1,000.
- AFCU offers CDs with terms ranging from 6 months to 60 months. The longer the term, the higher the interest rate you’ll earn on your deposit.
- Interest rates: AFCU offers competitive interest rates on its CDs, with rates varying depending on the term length and the amount of the deposit. Interest is compounded and paid monthly, and the rate is fixed for the term of the CD.
- Early withdrawal penalties: If you withdraw money from your CD before the maturity date, you’ll be subject to an early withdrawal penalty, which varies depending on the term length of the CD. For example, as of February 2023, the penalty for withdrawing money from a 60-month CD before maturity is 365 days of interest.
- Automatic renewal: Unless you specify otherwise, your CD will automatically renew at maturity for another term of the same length. You’ll have a 10-day grace period after maturity to withdraw the funds without penalty.
- FDIC insurance: AFCU is a federally insured credit union, which means that your deposits are insured by the National Credit Union Administration (NCUA) up to $250,000 per depositor.

Bank or Credit Union Name: Quorum Federal Credit Union
Minimum Amount: $1000
APY / Rate: 4.60% APY
Pros:
- Extremely safe investment insured by NCUA
- Low maintenance fee
- High-interest rate than regular saving accounts.
Rules:
- Account deposits of $100,000 earn an additional 0.10% APY.
- The penalty will be imposed if funds are withdrawn before maturity.

Bank or Credit Union Name: Armed Forces Bank, N.A.
Minimum Amount: $500
APY / Rate: 4.580% APY
Pros:
- Military Early Pay.
- Free e.Statements or $5 paper statements.
- Free incoming wire transfers.
- Online Banking with Bill Pay.
- Mobile Banking with account alerts, including the mobile app, mobile browser, and Text Banking.
- Free Visa® debit card with EMV chip technology.
- No fee money orders for existing clients
Rules:
- A fixed rate of interest is earned on the entire balance.
- A minimum opening balance of $500 is required to obtain the disclosed annual percentage yield.There are penalties for withdrawing funds before the set term.
- The amount depends on the length of the account term.
- You must deposit $1,000 to open this account.
- A total of six (6) withdrawals are allowed per month or statement cycle.
- Fees charged to the account could reduce the earnings on the account.
Best 5 Years CD Rates in Florida

Bank or Credit Union Name: 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.

Bank or Credit Union Name: 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.

Bank or Credit Union Name: BMO Harris
Minimum Amount: $1000
APY / Rate: 4.50%
Pros:
- Reasonable minimum balance obligation
- FDIC-Insured banking options
- Excellent customer support
- Online and at-branch banking options are available
Rules:
- CDs can be opened online or by contacting the branch in person or telephonically
- Interest is compounded monthly and credited to the account every month
- On maturity, during the 10 days grace period, an investor can alter the CD term to renew
- CD gets auto-renewed after 10 days post maturity
- The final amount is transferred to a BMO Harris account or paid via check