Best CD Rates in North Carolina

Finding the best CD (Certificate of Deposit) rates in North Carolina can be a smart way to grow your savings. It can be helpful at times when you are in need of aspects with a fixed interest rate over a specific term.

With a variety of financial institutions, North Carolina offers competitive CD rates that can help maximize your returns with minimal risk.

The following guide will help you to navigate the landscape of CD rates in this state. It ensures you to make an informed decision to boost your savings.

Overall Best CD rates in North Carolina

No.	Name of the Bank	APY %	Term Length	Address
1	American Airlines Federal Credit Union	5.50%	6-month	4800 Hangar Rd Charlotte, NC 28208
2	Deere Employees Credit Union	5.29%	6-month	2000 John Deere Run Cary, NC 27513
3	Atlanta Postal Credit Union	5.25%	6-month	591 Brevard Rd PO Box 6515 Asheville, NC 28810
4	Local Government Federal Credit Union	5.25%	6-month	323 W Jones St Raleigh, NC 27603
5	Live Oak Banking Company	5.20%	6-month	1741 Tiburon Dr Wilmington, NC 28403
6	Blue Flame Credit Union	5.13%	18-month	1521 Dowd St, Charlotte, NC 28208
7	Carolina Community Federal Credit Union	5.10%	6-month	1207 Bessemer City Rd Gastonia, NC 28052
8	Proponent Federal Credit Union	5.08%	6-month	3504 Forestdale Dr  Burlington, NC 27215
9	Charlotte Metro Federal Credit Union	5.00%	18-month	718 Central Ave, Charlotte, NC 28204
10	North State Bank	4.95%	24-month	6200 Falls of Neuse Rd, Raleigh, NC 27609
11	ServisFirst Bank	4.91%	6-month	1200 Ridgefield Blvd Asheville, NC 28806
12	High Point Bank and Trust	4.91%	12-month	Online
13	Coastal Bank & Trust	4.75%	6-month	300 US Highway 17 N Holly Ridge, NC 28445
14	Champion Credit Union	4.57%	18-month	1 Academy St, Canton, NC 28716
15	INOVA Federal Credit Union	4.50%	6-month	127 Pony Farm Rd PO Box 568 Clayton, NC 27520
16	Select Bank & Trust	4.50%	24-month	700 W Cumberland St, Dunn, NC 28334
17	Yadkin Bank	4.45%	6-month	Online
18	R T P Federal Credit Union	4.25%	6-month	21 Park Dr Research Triangle Park, NC 27709
19	New Republic Savings Bank	4.20%	6-month	521 E Morehead St Charlotte, NC 28202
20	Freedom Federal Credit Union	4.20%	24-month	4840 W Market St, Greensboro, NC 27407
21	NewBridge Bank	4.05%	24-month	Online
22	Members Credit Union	4.04%	18-month	2098 Frontis Plaza Blvd, Winston-Salem, NC 27103
23	Towne Bank	4.02%	3-month	137 Mt Pleasant Rd, Chesapeake, VA 23322
24	First Bank	4.00%	24-month	300 SW Broad St, Southern Pines, NC 28387
25	Self-Help Credit Union	4.00%	24-month	301 W Main St, Durham, NC 27701
26	First South Bank	4.00%	24-month	Online
27	Southern Bank and Trust Company	4.00%	3-month	100 N Center St, Mount Olive, NC 28365
28	United Federal Credit Union	4.00%	18-month	3670 Hendersonville Rd, Fletcher, NC 28732
29	Coastal Federal Credit Union	3.93%	18-month	1000 St Albans Dr, Raleigh, NC 27609
30	Union Bank	3.93%	12-month	5121 Zebulon Rd, Zebulon, NC 27597
31	Telco Community Credit Union	3.93%	24-month	712 New Leicester Hwy, Asheville, NC 28806
32	Vision Financial Federal Credit Union	3.93%	24-month	214 Pacific Ave, Durham, NC 27704
33	Roxboro Savings Bank, SSB	3.92%	6-month	5420 Durham Rd Roxboro, NC 27573
34	Local Government Federal Credit Union	3.89%	12-month	323 West Jones Street, Suite 600, Raleigh, NC 27603
35	Carolina Premier Bank	3.75%	24-month	Online
36	Summit Credit Union	3.68%	12-month	8210 West Market Street, Greensboro, NC 27409
37	Jackson Savings Bank, SSB	3.50%	6-month	741 W Main St Sylva, NC 28779
38	Southern First Bank	3.50%	6-month	4700 Falls of Neuse Rd Raleigh, NC 27609
39	American Partners Federal Credit Union	3.50%	18-month	618 N Scales St, Reidsville, NC 27320
40	Woodforest National Bank	3.35%	6-month	11145 Bryton Town Center Dr Huntersville, NC 28078
41	First Federal Savings Bank of Lincolnton	3.25%	6-month	4461 W Hwy 27 Vale, NC 28168
42	PenFed Credit Union	3.00%	6-month	1800 Skibo Rd Fayetteville, NC 28303
43	State Employees’ Credit Union	3.00%	36-month	1000 Wade Ave, Raleigh, NC 27605
44	Fidelity Bank	3.00%	24-month	100 S Main St, Fuquay-Varina, NC 27526
45	Park Sterling Bank	3.00%	18-month	Online
46	Piedmont Federal Savings Bank	3.00%	12-month	1399 Silas Creek Pkwy, Winston-Salem, NC 27127
47	Latino Community Credit Union	3.00%	36-month	100 W Morgan St, Durham, NC 27701
48	Mountain Credit Union	2.96%	12-month	38 Maple St, Waynesville, NC 28786
49	Piedmont Advantage Credit Union	2.96%	24-month	3530 Advantage Way, Winston-Salem, NC 27103
50	Heritage Trust Federal Credit Union	2.75%	18-month	Online
51	Premier Federal Credit Union	2.72%	24-month	1400 Yanceyville St, Greensboro, NC 27405
52	Wells Fargo Bank, National Association	2.50%	6-month	550 S Tryon St Charlotte, NC 28202
53	Entegra Bank	2.14%	24-month	Online
54	Capital Bank (part of First Horizon National Corporation)	2.14%	18-month	333 Fayetteville St, Raleigh, NC 27601
55	First Flight Federal Credit Union	2.14%	18-month	1815 Kildaire Farm Rd, Suite A, Cary, NC 27518
56	RBC Bank (USA)	2.14%	24-month	Acquired by PNC Bank; was in Raleigh, NC
57	Carolina Trust Bank	2.00%	36-month	901 East Main Street, Lincolnton, NC 28092
58	Gateway Bank & Trust Co.	2.00%	18-month	Online
59	Allegacy Federal Credit Union	1.98%	24-month	1691 Westbrook Plaza Dr, Winston-Salem, NC 27103
60	Mechanics & Farmers Bank	1.28%	36-month	116 W Parrish St, Durham, NC 27701
61	HomeTrust Bank	1.00%	48-month	10 Woodfin St, Asheville, NC 28801

Current CD Rates of North Carolina

Finding competitive CD rates in North California can make a noticeable difference in the growth of your savings. In North Carolina, the variety of financial institutions means that CD rates can vary widely, offering an opportunity for investors to lock in higher yields than standard savings accounts.

All is done without the risks associated with more volatile investment options. This makes CDs a valuable tool for both short-term savings plans and long-term financial strategies.

Best 6 Month CD Rates

Securing the best 6-month CD rates is ideal for individuals looking for a short-term investment to earn more than a regular savings account without committing their funds for an extended period.

1. 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.

2. Live Oak Banking Company

Minimum Amount: $2500.00

APY / Rate: 4.15% APY

Pros:

• Insured by FDIC
• No online banking or monthly maintenance fees
• Interest can be automatically disbursed monthly
• Manage your renewal preferences online

Rules:

• The minimum deposit required to open an account is $2,500 and the maximum amount is $250,000 per account.
• Penalties may apply to early withdrawals.
•  Penalties may apply to early withdrawals.
• As a Live Oak Bank customer, your Live Oak Bank deposits are insured by the FDIC up to $250,000 per depositor, for each account ownership category.

Best 1 Year CD Rates

1-year CD rates allow investors to benefit from higher interest earnings than many shorter-term CDs. It provides a perfect balance between accessibility and growth.

1. Bask Bank

Minimum Amount: $1000.00

APY / Rate: 4.55% 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.

2. M.Y. Safra Bank

Minimum Amount: $500

APY / Rate: 4.52%

Pros:

• Monthly compounding interest
• Low minimum balance required
• Interest is calculated on deposit until maturity
• FDIC insured savings

Rules:

• Interest is compounded monthly and credited in account at months end
• A penalty is charged on early withdrawal

Best 3 Year CD Rates

Investing in the best 3-year CD rates can be a strategic move for those looking to lock in competitive interest rates for a medium term.

1. Alliant Credit Union

Minimum Amount: $1000.00

APY / Rate: 4.60% APY

Pros:

• Funds are insured up to $250,000 by NCUA
• Low minimum deposit of only $1,000; no maximum
• Great dividend rates

Rules:

• Dividends compounded every month and at maturity.
• Incur an early withdrawal penalty

2. Bread Savings

Minimum Amount: $1500

APY / Rate: 4.50% APY

Pros:

• Excellent for earning a competitive interest rate on a savings account or CD.
• 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 5 Year CD Rates

Choosing the best 5-year CD rates is a wise decision for long-term savers aiming to maximize their interest earnings with the safety and security of a fixed-rate investment.

1. Popular Direct

Minimum Amount: $10000.00

APY / Rate: 4.55% APY

Pros:

• Highly competitive rates for 6-month CDs
• 24/7 access to the bank account
• No hidden fees or charges
• Customer support for all sorts of queries and concerns
• FDIC insured bank up to maximum

Rules:

• APY can be earned assuming the interest and the principal remains on deposit until maturity.
• Interest is compounded monthly and added to the account at the end of the month.
• Early withdrawal fetches a penalty and there is a grace period after maturity to add additional funds to the CD

2.  Pentagon Federal Credit Union

Minimum Amount: $1000

APY / Rate: 4.45 % 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.

North Carolina Economic Statistics

North Carolina’s economy presents a dynamic landscape for investors. It is underpinned by robust economic statistics that shape financial decision-making.

As of 2023, the state boasts a diverse and growing economy, with significant implications for those interested in the best CD rates.

• The average household income in North Carolina is approximately $57,341, which plays a crucial role in savings and investment strategies, including the choice of CD rates.
• The average home value in the state stands at around $220,300, reflecting a stable real estate market that influences consumer confidence and savings behaviors.
• With a population of over 10.6 million people, the demand for competitive CD rates is high, as residents seek to maximize their savings potential amidst the economic conditions of the state.

Statistic	Value
Average Household Income	$57,341
Average Home Value	$220,300
Population	10.6 million

These statistics offer a glimpse into the financial environment in North Carolina that provide valuable insights for investors.

How to Get the Best CD Rates in North Carolina

To secure the best CD rates in North Carolina, it’s crucial to conduct thorough research and compare offerings from various financial institutions.

• Begin by reviewing local banks, credit unions, and online banks, as they can offer diverse rates and terms.
• Pay close attention to the fine print regarding minimum deposit requirements, early withdrawal penalties, and interest compounding methods.
• Leveraging online comparison tools can streamline this process, allowing you to easily contrast the rates and terms from different providers.
• Additionally, consider your financial goals and select a CD term that aligns with your savings strategy, whether it’s short-term growth or long-term security.

CD Rates Methodology

Our methodology for identifying the best CD rates in North Carolina involved an extensive review of 89 banks and credit unions.

This comprehensive analysis focused on the interest rates, terms, and conditions of their CD products. To make our list, financial institutions had to offer competitive rates, transparent terms, and accessible customer service.

Out of the 89 reviewed, 61 made our list, demonstrating they provide valuable opportunities for savers looking to maximize their returns. This selection process ensures that our recommendations cater to a wide range of financial needs and preferences.

Conclusion

The key to maximize your savings with CDs lies in selecting the right term and rate that aligns with your financial goals and ensures that you are comfortable with the associated terms and conditions. Overall, by considering a broad range of financial institutions and focusing on those that offer the most competitive rates and favorable terms, savers can significantly enhance their investment returns.

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