Best CD Rates in Portland, Oregon

Portland, Oregon, is not just known for its lush landscapes it is also a hotspot for savvy investors who are looking to grow their savings. In this regard, finding the best CD rates can be like discovering a hidden gem in this City.

For residents and investors, securing a competitive CD rate is key to ensuring their hard-earned money works as diligently as they do. In this guide, we will navigate through the best CD rates in Portland, Oregon, that are helping you make informed decisions. It aligns with your savings goals and financial well-being.

Overall Best CD rates in Portland, Oregon

No.	Name of the Bank	APY %	Term Length	Address
1	IQ Credit Union	5.50%	3-month	Online
2	Fibre Federal Credit Union	5.13%	3-month	Online
3	Marion & Polk Schools Credit Union	5.13%	3-month	3055 Lancaster Dr NE, Salem, OR 97305
4	Advantis Credit Union	5.00%	3-month	10501 SE Main St, Portland, OR 97216
5	Trailhead Credit Union	4.91%	3-month	1980 NW 9th St, Corvallis, OR 97330
6	Bank of America	4.85%	7 months	121 SW Morrison St, Portland, OR 97204
7	Wells Fargo	4.75%	7 months	1300 SW 5th Ave, Portland, OR 97201
8	U.S. Bank	4.50%	7 months	101 SW Main St, Portland, OR 97204
9	Unitus Community Credit Union	4.45%	6-month	1300 SW 6th Ave, Portland, OR 97201
10	First Tech Federal Credit Union	4.45%	6-month	5100 SW Macadam Ave, Portland, OR 97239
11	Providence Federal Credit Union	4.05%	24-month	5515 NE 139th Ave, Vancouver, WA 98682
12	Providence Federal Credit Union	4.05%	24-month	5515 NE 139th Ave, Vancouver, WA 98682
13	Bank of Eastern Oregon	4.04%	18-month	905 NW Kings Blvd, Redmond, OR 97756
14	Bank of Eastern Oregon	4.04%	18-month	905 NW Kings Blvd, Redmond, OR 97756
15	Advantis Credit Union	4.00%	24-month	10501 SE Main St, Portland, OR 97216
16	Bank of the Cascades	4.00%	24-month	5335 SW Meadows Rd, Lake Oswego, OR 97035
17	Clackamas Federal Credit Union	4.00%	24-month	18600 SE Mcloughlin Blvd, Milwaukie, OR 97267
18	Pacific West Bank	4.00%	24-month	510 SW 5th Ave, Suite 100, Portland, OR 97204
19	OnPoint Community Credit Union	3.93%	18-month	301 SW 12th Ave, Portland, OR 97205
20	Evergreen Federal Bank	3.89%	12-month	1818 SW 1st Ave, Suite 225, Portland, OR 97201
21	Willamette Community Bank	3.89%	12-month	333 SW 5th Ave, Suite 100, Portland, OR 97204
22	Oregon Community Credit Union	3.68%	12-month	202 Division Ave, Eugene, OR 97404
23	Point West Credit Union	3.50%	3-month	718 NE 12th Ave, Portland, OR 97232
24	Consolidated Community Credit Union	3.50%	3-month	2021 NE Sandy Blvd, Portland, OR 97232
25	KeyBank	3.35%	6-month	1211 SW 5th Ave, Portland, OR 97204
26	Chase Bank	3.00%	6 months	1205 NW 185th Ave, Beaverton, OR 97006
27	Columbia Bank	3.00%	36-month	111 SW 5th Ave, Portland, OR 97204
28	Rivermark Community Credit Union	3.00%	24-month	1001 SW 5th Ave, Suite 100, Portland, OR 97204
29	Pacific West Bank	3.00%	18-month	510 SW 5th Ave, Suite 100, Portland, OR 97204
30	Bank of the West	3.00%	12-month	1001 SW 5th Ave, Portland, OR 97204
31	SELCO Community Credit Union	3.00%	36-month	333 SW 5th Ave, Suite 100, Portland, OR 97204
32	Unitus Community Credit Union	3.00%	24-month	1300 SW 6th Ave, Portland, OR 97201
33	Liberty Savings Bank, FSB	3.00%	18-month	7 NE Broadway St, Portland, OR 97232
34	Community Bank	3.00%	12-month	920 NW 17th Ave, Portland, OR 97209
35	MBank	3.00%	36-month	111 SW 5th Ave, Suite 3000, Portland, OR 97204
36	Northwest Community Credit Union	2.52%	3-month	3660 Gateway St, Springfield, OR 97477
37	Columbia Credit Union	2.00%	36-month	200 SE Park Plaza Dr, Suite 100, Vancouver, WA 98684
38	Albina Community Bank	1.98%	24-month	2002 NE Martin Luther King Jr Blvd, Portland, OR 97212
39	Centennial Bank	1.98%	24-month	16200 SW Pacific Hwy, Suite 200, Tigard, OR 97224
40	First Tech Federal Credit Union	1.28%	36-month	5100 SW Macadam Ave, Portland, OR 97239
41	Rivermark Community Credit Union	1.06%	36-month	1001 SW 5th Ave, Suite 100, Portland, OR 97204

Current CD Rates of Portland, Oregon

In Portland, Oregon, the current CD rates hold significant importance for both conservative and strategic savers who require some safe investment avenues.

With the economic landscape constantly evolving, these rates offer a glimpse into the financial health and opportunities within the local banking sector. For residents, securing a favorable CD rate can mean the difference between modest savings growth and a more substantial return on investment. It provides a low-risk option for individuals aiming to bolster their financial stability or save towards specific goals in a city known for its dynamic economy and diverse banking options.

Best 6 Month CD Rates

For those looking to secure short-term investments without significant commitment, the best 6-month CD rates in Portland offer an enticing blend of flexibility and yield.

1. Merrick Bank

Minimum Amount: $25000

APY / Rate: 4.40%

Pros:

• High interest rate on CDs
• FDIC-insured investment up to maximum
• Easy access to the account round the clock
• Excellent customer support

Rules:

• A CD can be in the name of one person, or joint accounts in the names of more than one person, or payable on death.
• A Truth-in-Savings disclosure holds detailed information about the CD and is shared with the customer once the CD is registered
• Interest is compounded and credited to the account monthly.
• Premature withdrawal of the principal is charged with a penalty amount.

2. Department Of Commerce Federal Credit Union

Minimum Amount: $500

APY / Rate: 4.09%

Pros:

• NCUA insured investment
• No monthly service fees
• Relationship reward benefits of up to an additional 0.25% APY
• additional 0.10% APY on opening an account with a $25000 initial deposit

Rules:

• The dividends can be added to the CD or transferred to a savings or checking account.
• The credit union offers an additional.25% APY under the Relationship reward benefits program to customers with Gold, Silver, or Bronze status
• There is a grace period of 10 days on maturity that allows customers to add more funds or change the term of the CD.

3. First Internet Bank of Indiana

Minimum Amount: $1000

APY / Rate: 4.07%

Pros:

• Deals in online CD options exclusively
• Best CD rates for 6-month CD term
• Low early withdrawal penalty
• FDIC-insured

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

Best 1 Year CD Rates

One-year CDs strike a perfect balance for savers in Portland, combining a relatively short horizon with enhanced earning potential. This makes them an ideal choice for moderate savers.

1. Capital One

Minimum Amount: $0

APY / Rate: 4.00%

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. BMO Harris

Minimum Amount: $1000

APY / Rate: 4.50%

Pros:

• Competitive CD rates
• Decent minimum balance requirement
• Easy CD withdrawal methods
• 3-months to 60-month term available

Rules:

• A CD can be opened via mobile, online,, or telephone.
• The interest on the CD is compounded monthly and added to the account on a fixed date every month.
• There is a penalty for early withdrawal which depends on the term and amount of the CD.
• Any changes to the CD regarding the amount or term can be made within the grace period of penalty days post maturity.

3. CFG Community Bank

Minimum Amount: $500

APY / Rate: 4.62%

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.

Best 2 Year CD Rates

Investors who are aiming for a middle ground between short-term accessibility and long-term yield will find the best 2-year CD rates in Portland a compelling option for boosting their savings strategy.

1. HSBC Direct

Minimum Amount: $1000

APY / Rate: 4.50%

Pros:

• 6-months, 12-month & 24-month CD options are available
• High APY on 2-year CDs
• Daily interest rates
• Easy online management
• $0 Liability Online, Guarantee

Rules:

• Customers can apply for  CVD online or at the branch.
• As soon as the account is opened and funded, it starts earning interest.
• Interest is compounded daily and credited to the account at the month’s end.
• CD can be renewed by calling the bank during the grace period.
• Early withdrawal penalties for premature withdrawal from the account.

2. CIT Bank

Minimum Amount: $1000

APY / Rate: 4.50%

Pros:

• Competitive CD rates and terms
• Different types of CDs; Term CDs, No-penalty 11-month CDs, Jumbo CDs, RampUp CDs
• FDIC-insured investment to the max

Rules:

• Open an account online or by reaching to the nearest branch.
• Fund the account with $1000 and wait for confirmation from the bank.
• Once confirmed, the CD starts earning interest on a daily compounding basis
• Early withdrawal of the principal amount will be charged with a penalty and will reduce the earnings.

3. Pentagon Federal Credit Union

Minimum Amount: $1000

APY / Rate: 4.35%

Pros:

• High APY ensures great returns
• Option to renew or close at maturity
• Tax-free earnings
• NCUA insured

Rules:

• All certificates earn interest on a daily compounding basis.
• The earned interest is credited to the account every month.
• Investors can choose to:
• 1-Add dividends to the certificate.
• 2- Transfer dividends to the account
• 3- Get a check with dividend amount
• Early withdrawal is subject to a penalty.

Best 3 Year CD Rates

With a slightly longer investment period, best 3-year CD rates in Portland appeal to those planning ahead, as it offers higher interest rates for a moderate wait.

1. Popular Direct

Minimum Amount: $10000

APY / Rate: 4.55%

Pros:

• High fixed interest rates
• CD calculator to compare CDs
• 24/7 access to the account via desktop, mobile,, or tablet
• Round-the-clock customer support

Rules:

• Choose the term for CD and apply online or at the branch
• Interest is compounded monthly and credited to the account at month’s end
• APY is earned when the principal and interest remain on deposit until maturity.
• A penalty is charged for any type of premature withdrawal.

2.  Alliant Credit Union

Minimum Amount: $1000

APY / Rate: 4.50%

Pros:

• Highly competitive CD rates
• No cap on the maximum deposit
• Variety of terms available; 12 months to 60 months
• NCUA insurance up to $250,000

Rules:

• Log in to the website or reach the branch to open a CD account.
• Dividends are posted to the account monthly, on the last day of the month,, and at maturity.
• If you have to withdraw funds early, there is a premature withdrawal penalty to pay.
• The premature penalty gets scrapped if you opt for the dividend withdrawal option.

3.  Prime Alliance Bank

Minimum Amount: $500

APY / Rate: 4.50%

Pros:

• Competitive APY and interest rates
• 24/7 customer support
• FDIC insured
• Competitive Interest rates

Rules:

• Interest is compounded monthly and credited to the account at month’s end.
• A penalty is charged on withdrawing the amount before maturity.
• CD gets auto renewed. To make any changes to the term or add more funds, there is a 10-days grace period on maturity.

Best 5 Year CD Rates

For the most patient investors in Portland, the 5-year CD rates reward long-term planning with the highest interest rates, locking in savings for substantial growth over time.

1. Bread Savings

Minimum Amount: $1500

APY / Rate: 4.75%

Pros:

• Top-tier interest rates across nation
• Hassle-free and less time consuming account opening
• High deposit limits per account and per customer
• FDIC-insured

Rules:

• The interest is compounded daily and credited to the account monthly.
• A notice is sent to the investor when the CD matures.
• There is a 10 days of grace period post maturity when customers can add more money or change the terms of the CD.
• CD gets auto-renewed if not consumed.

2. Sallie Mae Bank

Minimum Amount: $1000

APY / Rate: 4.55%

Pros:

• 12-month to 60-month CD terms
• Automatic renewal option
• FDIC insured banking
• No monthly charge or maintenance fees

Rules:

• The minimum amount for a 5-year CD is $1000.
• Interest can be disbursed monthly, quarterly, yearly, or at maturity.
• Premature withdrawal is penalized with penalty amount:
• 90 days of interest for CDs with a term less than 12 months
• 180 days of interest for CDs with terms more than 12 months
• CD gets auto renewed at maturity or customer can add more amount or alter the term during grace period.

3. BMO Harris

Minimum Amount: $1000

APY / Rate: 4.50%

Pros:

• Best CD rates nationwide
• Low minimum balance requirement
• Choices of CD withdrawal methods
• 3-months to 60-month term options

Rules:

• A CD can be opened via mobile, online,, or telephone.
• The interest on the CD is compounded monthly and added to the account on a fixed date every month.
• There is a penalty for early withdrawal that depends on the term and amount of the CD.
• Any changes to the CD regarding the amount or term can be made within the grace period of penalty days post maturity.

Portland, Oregon: Economic Statistics

Portland, Oregon, stands as a vibrant economic hub in the Pacific Northwest, characterized by its diverse and robust economy.

For investors who are looking into the best CD rates in Portland, the following economic statistics are crucial.

• An average household income of approximately $85,876, as noted in reports, suggests a community with a solid financial foundation capable of investing in CDs as a savings strategy.
• Along with an average home value hovering around $515,004, which underscores the city’s thriving real estate market, it’s clear that Portland’s economic environment is ripe for savers seeking favorable CD rates.
• Furthermore, with a population surpassing 650,000, the demand for diverse financial services, including competitive CD rates, is evident.

Statistic	Value
Average Household Income	$85,876
Average Home Value	$515,004
Population	>650,000

These figures not only reflect the economic stability and potential for growth in Portland but also highlight the importance of finding the best CD rates as a means to further financial goals in a city with a strong economic backdrop.

How to Get Best CD Rates in Portland, Oregon?

Securing the best CD rates in Portland, Oregon, requires a strategic approach, starting with thorough research and comparison.

• Prospective investors should begin by examining the offerings from a wide range of financial institutions, including both national banks with branches in Portland and local credit unions, as they often provide more competitive rates to local residents.
•  It is crucial to consider factors beyond just the interest rate; account fees, minimum deposit requirements, and early withdrawal penalties can all affect the overall return on your investment.
• Engaging with online financial comparison tools and consulting with financial advisors familiar with the Portland market can also offer valuable insights.
• Last but not the least, staying informed about the Federal Reserve’s interest rate decisions can provide additional context, as these rates influence the interest rates banks can offer on CDs.

CD Rates Methodology

In our analysis of CD rates in Portland, Oregon, we reviewed the offerings from a comprehensive list of 78 banks, including both local institutions and national chains with a significant presence in the area.

This broad approach ensures a wide snapshot of the market, capturing variations in rates, terms, and conditions.

Out of these, 41 banks made the list for offering the most competitive CD rates, based on a combination of factors including the annual percentage yield (APY), minimum deposit requirements, and the flexibility of terms.

This methodology underscores our commitment to providing a nuanced, in-depth look at the best CD rates available to Portland residents, reflecting a diverse range of options to suit different financial goals and timelines.

Conclusion

Finding the best CD rates in Portland, Oregon, is a process that casts a wide net and considers a variety of banks and credit unions. Investors can uncover the most advantageous rates that align with their savings goals and financial plans.

Ultimately, the key to maximize your CD investment lies in selecting a product that not only offers a competitive rate but also fits your financial situation and future aspirations.

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