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.
- 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.
- 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.
- 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.
- 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.
- 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
- 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.
- 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
- 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.
FAQs
For the best Certificate of Deposit (CD) rates among banks in North Carolina, North State Bank offers an attractive rate of 4.95% for a 24-month term.
American Airlines Federal Credit Union stands out with the best CD rates in North Carolina, offering an impressive rate of 5.50% for a 6-month term.