Best CD Rates in Idaho

When it comes to maximizing your savings in Idaho, finding the best certificate of deposit (CD) rates is a credible move that is taken up by the investors. CDs offer a secure way to grow your money over a fixed period. It makes them an attractive option for savers looking for a low-risk investment.

With interest rates varying significantly from one financial institution to another, it’s essential to shop around to find the most competitive rates available. Let’s dive into how you can secure the best CD rates in this Gem State.

Overall Best CD Rates in Idaho

No.	Name of the Bank	APY %	Term Length	Address
1	Bank of Commerce	5.25%	6-month	859 S Yellowstone Hwy Rexburg, ID 83440
2	Les Bois Credit Union	5.25%	6-month	7906 W Marigold St PO Box 140809 Garden City, ID 83714
3	Mountain America Federal Credit Union	5.25%	6-month	18 N 2nd E Rexburg, ID 83440
4	Twin River Bank	5.25%	6-month	3330 10th St Lewiston, ID 83501
5	America First Federal Credit Union	5.18%	6-month	510 N 2nd E Rexburg, ID 83440
6	P1FCU	5%	6-month	5425 W Chinden Blvd Garden City, ID 83714
7	Mountain Gem Credit Union	5.00%	6-month	421 11th Ave S PO Box 309 Nampa, ID 83651
8	Zions First National Bank	5.00%	9-month	500 8th Ave Lewiston, ID 83501
9	Northwest Bank	5.00%	3-month	1750 W Front St Boise, ID 83702
10	St. Alphonsus Credit Union	5.00%	6-month	Online
11	Cutting Edge Federal Credit Union	4.91%	6-month	2200 1st St Lewiston, ID 83501
12	Northwest Bank	4.89%	6-month	1750 W Front St Boise, ID 83702
13	Pine Tree Community Credit Union	4.85%	6-month	603 N Main St Riggins, ID 83539
14	Farmers Bank	4.80%	6-month	317 Pole Line Rd Twin Falls, ID 83301
15	Bank of Idaho	4.75%	36-month	399 N Capital Ave, Idaho Falls, ID 83402
16	Cottonwood Community Federal Credit Union	4.75%	60-month	203 S Main St, Cottonwood, ID 83522
17	Washington Trust Bank	4.65%	6-month	948 W Pullman Rd Moscow, ID 83843
18	Zions First National Bank	4.59%	3-month	1910 University Dr Boise, ID 83725
19	Wells Fargo Bank, National Association	4.50%	3-month	507 N Washington Ave Emmett, ID 83617
20	RiverFall Credit Union	4.45%	12-month	2520 6th St, Tuscaloosa, AL 35401
21	Bankcda	4.25%	6-month	162 W Hayden Ave Hayden, ID 83835
22	Washington Trust Bank	4.25%	3-month	6010 E Franklin Rd Nampa, ID 83687
23	First Technology Federal Credit Union	4.22%	6-month	11311 W Chinden Blvd Boise, ID 83714
24	First Federal Savings Bank	4.05%	24-month	317 Pole Line Road, Twin Falls, ID 83301​
25	Syringa Bank	4.01%	18-month	Online
26	Freedom Northwest Credit Union	4.00%	12-month	303 Main St, Kamiah, ID 83536
27	Coeur d’Alene Credit Union	4.00%	18-month	1000 Northwest Blvd, Coeur d’Alene, ID 83814
28	Premier Federal Credit Union	4.00%	24-month	1400 Yanceyville St, Greensboro, NC 27405
29	Magic Valley Bank	4.00%	12-month	Online
30	SunWest Federal Credit Union	3.93%	12-month	Online
31	Horizon Credit Union	3.93%	36-month	101 W Ironwood Dr, Coeur D Alene, ID 83814
32	The Bank of Commerce	3.93%	24-month	311 S Phelps Ave, Rockford, IL 61108
33	Twin River National Bank	3.86%	18-month	Online
34	Vallivue Credit Union	3.86%	12-month	Online
35	Connections Credit Union	3.75%	12-month	1150 N 8th Ave, Pocatello, ID 83201
36	Citizens Community Bank	3.75%	6-month	280 S Arthur Ave, Pocatello, ID 83204
37	First Bank of Idaho	3.67%	12-month	Online
38	Sterling Bank	3.65%	60-month	Online
39	Ireland Bank	3.61%	6-month	20449 N Main St Carey, ID 83320
40	AmericanWest Bank	3.50%	6-month	255 W Hayden Ave Hayden, ID 83835
41	Pocatello Railroad Federal Credit Union	3.50%	3-month	216 W Whitman St, Pocatello, ID 83204
42	BankCDA	3.44%	24-month	1620 Northwest Blvd, Coeur d’Alene, ID 83814
43	Summit National Bank	3.25%	6-month	102 Courthouse Dr Salmon, ID 83467
44	Bank of the West	3.10%	48-month	Online
45	Beehive Federal Credit Union	3.10%	18-month	1087 Erikson Dr, Rexburg, ID 83440
46	Clarity Credit Union	3.09%	24-month	1822 N Midland Blvd, Nampa, ID 83651
47	Farmers National Bank	3.02%	18-month	1750 W Front St, Boise, ID 83702
48	PenFed Credit Union	3.00%	6-month	Online
49	Global Credit Union	3.00%	24-month	1520 W 3rd Ave, Spokane, WA 99201
50	Simplot Employees Credit Union	2.91%	36-month	915 N 7th Ave, Pocatello, ID 83201
51	Washington Federal Bank	2.86%	18-month	Online
52	Panhandle State Bank	2.70%	24-month	Online
53	Northwest Christian Credit Union	2.66%	24-month	716 E Colorado Ave, Nampa, ID 83686
54	Silverado Credit Union	2.50%	3-month	1350 N Kings Rd PO Box 130 Nampa, ID 83687
55	Lewis Clark Credit Union	2.50%	6-month	1626 17th St, Lewiston, ID 83501
56	Idaho First Bank	2.50%	3-month	475 E Deinhard Ln, McCall, ID 83638
57	Home Federal Bank	2.50%	12-month	Online
58	Idaho Trust Bank	2.00%	12-month	888 W Broad St, Boise, ID 83702
59	Icon Credit Union	1.89%	13-month	485 W Overland Rd, Meridian, ID 83642
60	Mountain Gem Credit Union	1.25%	3-month	421 11th Ave S PO Box 309 Nampa, ID 83651
61	Lewiston State Bank	1.00%	36-month	Online

Current CD Rates of Idaho

In Idaho, the current Certificate of Deposit (CD) rates indicate a favorable environment for savers in Idaho. The versatile financial institutions in the state provide various options to earn more on deposits through CDs, which are traditionally considered safe and reliable investment vehicles.

Best 6-Month CD Rates

For savers seeking short-term investments with a quick return, 6-month CDs offer an ideal balance between accessibility and earning potential.

1. CommunityWide Federal Credit Union

Minimum Amount: $1000.00

APY / Rate: 3.25% APY

Pros:

• NCUA Insured to at least $250,000
•  Dividend can be compounded in certificates / deposited to another share/ transferred to another institution
•  Option to renew on maturity

Rules:

• Any withdrawal before maturity is charged with a penalty
• Penalty= amount of the withdrawal x  the remaining term (days) of the certificate at the rate of 2x the current APR (divided by 365).

2. Quontic Bank

Minimum Amount: $500.00

APY Rate: 2.25% APY

Pros:

• High-interest rates.
• Offer mobile and online banking.
• Access to more than 99,000 surcharge-free ATMs.
• Competitive interest rates on checking, savings, and CDs

Rules:

• FDIC insured and protected
•  If the account is closed before interest is credited
• Must have a Bank account for online banking
• Withdrawals before the maturity date are subject to penalties

3. PenFed Credit Union

Minimum Amount: $1,000

APY / Rate: 2.00% APY

Pros:

• Easy renewal without any conditions
• Can be accessed at the branch, mobile or online
• Insured by NCUA insurance

Rules:

• Dividends are calculated on a simple interest basis
• Monthly dividends are paid on CD maturity

Best 1-Year CD Rates

A 1-year CD is a perfect middle ground for those who want higher interest rates without committing their funds for an extended period.

1. Blue FCU

Minimum Amount: $1k

APY / Rate: 4.60% APY

Pros:

• No monthly fee, ATM charges & minimum deposit needed
• Pay bills to anyone through the United States
•  Offers an annual percentage yield of up to 2%

Rules:

• Limit one per social security number.
• A minimum daily balance of $25.00 is required to earn dividends.
• The rate changes once the balance exceeds $5,000.
• Dividends are compounded daily and paid quarterly.

2. CommunityWide FCU

Minimum Amount: $1.000.00

APY / Rate: 3.50% APY

Pros:

• NCUA Insured to at least $250,000
•  Dividends can be compounded in certificates / deposited to another share/ transferred to another institution
•  Option to renew on maturity

Rules:

• Any withdrawal before maturity is charged with a penalty
• Penalty= amount of the withdrawal x  the remaining term (days) of the certificate at the rate of 2x the current APR (divided by 365)
• Dividends are paid at the end of the month

3. Bread Savings

Minimum Amount: $1500

APY / Rate: 4.00% APY

Pros:

• Excellent for earning a competitive interest rate on a savings account or CD, making this one of the best CD rates in Idaho.
• Without monthly services.
• Free domestic incoming wire transfers on savings account

Rules:

• APYs are subject to change at any time without notice
•  The penalty will be applied for early withdrawals on CDs
• At maturity, your CD will automatically renew and earn the base interest rate

Best 2-Year CD Rates

Investing in a 2-year CD can be a wise choice for individuals looking to benefit from higher interest rates while maintaining a relatively short investment horizon.

1. Skyla Credit Union

Minimum Amount: $500.00

APY Rate: 4.75% APY

Pros:

• Low minimum balance requirement
• Insured up to $500,000 by National Credit Union Administration (NCUA) and Excess Share Insurance Corporation (ESI)
• No monthly fees

Rules:

• The dividend is compounded and credited on a monthly basis
• Complete the term to avoid penalties

2. Bread Savings

Minimum Amount: $1,500.00

APY / Rate: 4.00% APY

Pros:

• Hassle-free account opening
• Best reinvestment options available
• $1 million per account and $10 million limit per customer maximum deposit limit
• No hidden fees
• Free monthly maintenance
• Auto-renew facility available

Rules:

• Interest is accrued and compounded on daily basis and credited to the account on a monthly basis

3. Synchrony Bank

Minimum Amount: $0

APY / Rate: 4.26% APY

Pros:

• No minimum balance
• Low penalty on early withdrawal
• Anytime interest withdrawal without penalty
• FDIC insured up to $250,000

Rules:

• Interest is calculated on a monthly basis and credited to the account at end of every month
• Premature withdrawal is charged with a penalty

Best 3-Year CD Rates

A 3-year CD provides a favorable option for savers aiming to lock in competitive rates. It offers a blend of security and enhanced earning potential over time.

1. Quontic Bank

Minimum Amount: $500.00

APY / Rate: 3.75% APY

Pros:

• High-interest rates.
• Offer mobile and online banking.
• Access to more than 99,000 surcharge-free ATMs.
• Competitive interest rates on checking, savings, and CDs

Rules:

• FDIC insured and protected
•  If the account is closed before interest is credited
• Must have a Bank account for online banking
• Withdrawals before the maturity date are subject to penalties

2. Bread Savings

Minimum Amount: $1,500.00

APY / Rate: 4.00% APY

Pros:

• Hassle-free account opening
• Best reinvestment options available
• $1 million per account and $10 million limit per customer maximum deposit limit
• No hidden fees
• Free monthly maintenance
• Auto-renew facility available

Rules:

• Interest is accrued and compounded on daily basis and credited to the account on a monthly basis

3. PenFed Credit Union

Minimum Amount: $1000.00

APY / Rate: 4.35% APY

Pros:

• Easy online and mobile access.
• Checking account dividends are compounded daily and paid monthly
• 85,000 free ATM network access nationwide.
• Competitive APY rates.

Rules:

• NCUA insured.
• Rates are the same and are subject to change.
• Penalties applied for early withdrawal.
• The penalty will be 30% of the gross amount of dividends after 365 days of the open date.

Best 5-Year CD Rates

For the highest interest rates available in the CD market, a 5-year term stands out as appealing to long-term savers who focus on maximizing their returns.

1. Bread Savings

Minimum Amount: $1500

APY / Rate: 4.25% APY

Pros:

• $1,500 minimum opening deposit
• FDIC insured
• Zero service charges
• Interest Accrued and compounded daily & Credited and posted monthly

Rules:

• APYs are subject to change at any time without notice
• The penalty will be applied for early withdrawals on CDs
• The penalty is calculated based on 365 days of simple interest.
• $25 per outgoing wire transfer
• Auto-renew at maturity or cash out without penalty within the 10-day grace period

2. Popular Direct

Minimum Amount: $10000

APY Rate: 4.35% APY

Pros:

• No monthly fees on savings account
• Competitive rates on savings and CDs
• Access your account 24/7 from desktop or mobile.
• All deposits are FDIC insured.

Rules:

• Penalty is 730 days of simple interest
• Interest earned may vary
• fees may reduce the aggregate balance on the account.

3. Synchrony Bank

Minimum Amount: $0

APY / Rate: 4.26% 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.

Idaho Economic Statistics

Idaho’s economic landscape presents a unique set of opportunities and challenges for investors. As of 2023, the state has witnessed a dynamic shift in its economic indicators. It reflects its growth and the potential for financial investments, including CD rates.

• Average Income – Idaho’s median household income was approximately $65,712, signaling a competitive economic environment with potential for savings and investments. This income level provides residents with the capacity to explore various savings instruments, including the best CD rates available in the state.
• Average Home Value – The average home value in Idaho has seen a significant increase, with values reaching around $460,900 as of 2023. This surge in home values indicates a robust real estate market, influencing the financial decisions of homeowners and investors.
• Population – With a population of over 1.8 million people, Idaho’s demographic growth contributes to its economic vibrancy and the demand for financial products, including certificates of deposit.

Statistic	Detail	Context
Average Income	$65,712.	Reflects potential for savings and investments in CDs.
Average Home Value	$460,900	Indicates a robust real estate market, influencing financial decisions.
Population	Over 1.8 million	Contributes to economic vibrancy and demand for financial products.

For investors and savers, these economic statistics underscore the importance of selecting the right financial instruments to maximize returns.

How to Get the Best CD Rates in Idaho

To secure the best CD (Certificate of Deposit) rates in Idaho, it’s crucial to engage in thorough research and comparison across various financial institutions.

• Start by reviewing local banks and credit unions, as these often offer competitive rates to attract and retain customers within the community.
• Online banking platforms should not be overlooked, as they can provide higher rates due to lower operational costs.
• Additionally, consider promotional offers and special terms that may offer higher interest rates.
• Staying informed about the national interest rate trends and understanding how they influence local rates can also provide leverage in finding the best CD rates. It’s essential to balance the desire for high returns with the institution’s reliability and the terms that best fit your financial situation and goals.

CD Rates Methodology

In the process of identifying the best CD rates in Idaho, an extensive review was conducted, encompassing 90 banks to ensure a comprehensive analysis of the available options.

Out of these, 62 banks made the list, having been selected based on their offer of superior CD rates, customer service, and other beneficial terms for depositors.

This methodology ensures that the recommendations are not only based on the highest interest rates but also consider factors that contribute to the overall value and satisfaction for customers. This rigorous selection process aims to provide savers with reliable and actionable information to make informed decisions.

Conclusion

Finding the best CD rates in Idaho, the thorough analysis ensures that individuals have access to up-to-date and relevant information, empowering them to maximize their savings potential.

Ultimately, by carefully considering their options and staying informed about the financial landscape, savers can effectively navigate the market to find CD rates that best meet their financial objectives.

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