Best CD Rates in Pennsylvania

Investors are constantly on the lookout to find the most competitive CD. With options ranging from short-term commitments for those seeking flexibility, to longer-term investments, Pennsylvania’s financial institutions cater to a wide array of financial goals and timelines.

As we delve into the current landscape of CD rates in Pennsylvania, keep in mind that finding the best deal requires a combination of up-to-date research, and comparing offerings from various banks and credit unions. Most importantly it must align with your financial goals with the right investment term.

Let’s explore the precise overview about CD options as follows.

Overall Best CD rates in Pennsylvania

No.	Name of the Bank	APY %	Term Length	Address
1	American Airlines Federal Credit Union	5.50%	6-month	8500 Essington Ave Philadelphia, PA 19153
2	Harford Bank	5.39%	6-month	133 N Bridge St Elkton, MD 21921
3	Iron Workers Savings Bank	5.25%	3-month	100 Ridge Rd Chadds Ford, PA 19317
4	Iron Workers Savings Bank	5.25%	6-month	100 Ridge Rd Chadds Ford, PA 19317
5	Aberdeen Proving Ground Federal Credit Union	5.15%	6-month	2011 W Pulaski Hwy Elkton, MD 21921
6	Republic Bank	5.12%	3-month	8764 Frankford Ave Philadelphia, PA 19136
7	Beal Bank USA	5.05%	6-month	150 Allendale Rd King Of Prussia, PA 19406
8	Riverfront Federal Credit Union	5.00%	3-month	733 Lancaster Ave Reading, PA 19602
9	Woodlands Bank	5.00%	3-month	2 S Main St Hughesville, PA 17737
10	North Penn Federal Credit Union	5.00%	6-month	123 Bethlehem Pike Colmar, PA 18915
11	Santander Bank, N.A.	5.00%	6-month	1616 Walnut St Philadelphia, PA 19103
12	Hershey Federal Credit Union	5.00%	6-month	232 Hershey Road, Hummelstown, PA 17036
13	Franklin Mint Federal Credit Union	4.97%	6-month	826 E Baltimore Pike Kennett Square, PA 19348
14	Beal Bank, SSB	4.96%	3-month	1680 Washington Rd Pittsburgh, PA 15241
15	American Heritage Federal Credit Union	4.89%	6-month	547 S Oxford Valley Rd Fairless Hills, PA 19030
16	First Resource Bank	4.88%	6-month	844 Paoli Pike West Chester, PA 19380
17	Abacus Federal Savings Bank	4.85%	6-month	147-151 N 10th St Philadelphia, PA 19107
18	Wells Fargo Bank, National Association	4.50%	3-month	101 N Independence Mall E Philadelphia, PA 19106
19	Ally Bank	4.45%	3-month	4 Walnut Grove Dr Horsham, PA 19044
20	Ally Bank	4.45%	6-month	1100 Virginia Dr Fort Washington, PA 19034
21	Visionary Federal Credit Union	4.45%	12-month	201 Beram Avenue, Bridgeville, PA 15017
22	American Heritage Federal Credit Union	4.41%	3-month	200 Chestnut StPhiladelphia, PA 19106
23	Citadel Federal Credit Union	4.25%	6-month	762 W Street Rd Warminster, PA 18974
24	Discover Bank	4.25%	6-month	12 Reads Way New Castle, DE 19720
25	Freedom Credit Union	4.20%	24-month	626 Jacksonville Road, Suite 250, Warminster, PA 18974
26	Santander Bank, N.A.	4.16%	3-month	2103 Hamilton St Philadelphia, PA 19130
27	Utilities Employees Credit Union	4.15%	3-month	11 Meridian Blvd PO Box 14864 Wyomissing, PA 19610
28	Police and Fire Federal Credit Union	4.06%	24-month	901 Arch Street, Philadelphia, PA 19107
29	First Commonwealth Federal Credit Union	4.02%	12-month	257 Brodhead Road, Bethlehem, PA 18017
30	Belco Community Credit Union	4.01%	18-month	449 Eisenhower Blvd, Harrisburg, PA 17111
31	FedChoice Federal Credit Union	4.00%	6-month	2970 Market St Philadelphia, PA 19104
32	HSBC Bank USA, National Association	4.00%	6-month	1515 Market St Philadelphia, PA 19102
33	Priority First Federal Credit Union	4.00%	18-month	550 Main Street, Brockway, PA 15824
34	Riverset Credit Union	4.00%	24-month	53 South 10th Street, Pittsburgh, PA 15203
35	Franklin Mint Federal Credit Union	4.00%	12-month	5 Hillman Drive, Suite 100, Chadds Ford, PA 19317
36	Bank of America, National Association	3.93%	3-month	1502 W Chester Pike West Chester, PA 19382
37	Omega Federal Credit Union	3.93%	12-month	104 Bettys Avenue, Pittsburgh, PA 15237
38	Valley 1st Community Federal Credit Union	3.93%	36-month	815 Schoonmaker Avenue, Monessen, PA 15062
39	Bradford Area Federal Credit Union	3.93%	24-month	48 Davis Street, Bradford, PA 16701
40	Patriot Federal Credit Union	3.93%	12-month	800 Wayne Avenue, Chambersburg, PA 17201
41	Widget Financial	3.86%	18-month	2154 East Lake Road, Erie, PA 16511
42	Central Pennsylvania Community Credit Union	3.86%	12-month	5137 Jonestown Road, Harrisburg, PA 17112
43	NET Credit Union	3.67%	12-month	1444 East Lackawanna Avenue, Olyphant, PA 18447
44	Citadel Federal Credit Union	3.50%	3-month	16 Campus Blvd Newtown Square, PA 19073
45	Diamond Credit Union	3.44%	24-month	1600 Medical Drive, Pottstown, PA 19464
46	Andrews Federal Credit Union	3.35%	6-month	3113 Rt 38 Mount Laurel, NJ 08054
47	First National Bank of Port Allegany	3.30%	3-month	118 E 2nd St Coudersport, PA 16915
48	Juniata Valley Bank	3.30%	3-month	Rt 522 S Lewistown, PA 17044
49	PenFed Credit Union	3.00%	6-month	Online
50	West Penn P&P Federal Credit Union	3.00%	24-month	14 South Main Street, Pittsburgh, PA 15220
51	Lancaster Red Rose Credit Union	3.00%	6-month	1010 New Holland Avenue, Lancaster, PA 17601
52	First Capital Federal Credit Union	2.96%	3-month	4500 Intermediate Ave Dover, PA 17315
53	Navy Federal Credit Union	2.75%	3-month	870 Jim Thorpe Rd Carlisle, PA 17013
54	Wells Fargo Bank, National Association	2.50%	6-month	555 E Lancaster Ave Radnor, PA 19087
55	Philadelphia Federal Credit Union	2.47%	24-month	12800 Townsend Road, Philadelphia, PA 19154
56	Merck Sharp & Dohme Federal Credit Union	2.47%	24-month	335 West Butler Ave, Chalfont, PA 18914
57	Transcend Credit Union	2.10%	3-month	Rd 1 Box 3H Colonial Dr Towanda, PA 18848
58	Pennsylvania Credit Union Association	2.05%	60-month	4309 North Front Street, Harrisburg, PA 17110
59	First Heritage Federal Credit Union	2.00%	3-month	1550 S Main St Mansfield, PA 16933
60	Clearview Federal Credit Union	2.00%	12-month	8805 University Blvd, Moon Township, PA 15108
61	Allegent Community Federal Credit Union	1.89%	13-month	1001 Liberty Avenue, Pittsburgh, PA 15222
62	Pennsylvania Central Federal Credit Union	1.76%	24-month	959 East Park Drive, Harrisburg, PA 17111
63	Pennsylvania State Employees Credit Union	1.49%	3-month	1858 Weber Way Selinsgrove, PA 17870
64	Belco Community Credit Union	1.41%	3-month	Harrisburg Hospital Harrisburg, PA 17105
65	Erie Federal Credit Union	1.00%	36-month	1109 East 38th Street, Erie, PA 16504

Current CD Rates of Pennsylvania

The current CD rates in Pennsylvania offer a secure and predictable way to grow savings over time. With the economic landscape continually evolving, these rates provide a glimpse into the financial health of the region. It influences decisions on where and how to allocate funds for optimal returns.

By locking in a rate, individuals can safeguard their investments against short-term market volatility, making CDs a cornerstone for those seeking stability in their financial planning.

Best 6 Month CD Rates

For those looking to dive into the world of savings without a long-term commitment, the 6-month CD rates in Pennsylvania offer a perfect starting point. It provides a safe haven for funds with a modest yield.

1. 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.

2. My Banking Direct

Minimum Amount: $2500.00

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
• $0 Monthly maintenance fee

Rules:

• To open a CD an investor can approach the bank online or in-branch.
• Less than six months: 30 days’ simple interest on the principal amount withdrawn
• 6 months up to and including 11 months: 90 days’ simple interest on the principal amount withdrawn
• 12 months up to and including 35 months: 180 days’ daily compound interest on the principal amount withdrawn
• The interest on the CD is compounded monthly.

Best 1 Year CD Rates

When it comes to the best 1-year CD rates, savers in Pennsylvania find a sweet spot between short-term flexibility and enhanced earnings potential, making it an attractive option for those looking to slightly extend their investment horizon.

1.  Synchrony Bank

Minimum Amount: $0

APY / Rate: 4.50%

Pros:

• No minimum balance required
• Higher interest rates
• Accurate saving solution with a CD ladder
• CD calculator available on the bank website

Rules:

• Withdrawing principal prior to the maturity date earns a penalty
  1. Term less than one year- 90 days of simple interest
  2. The term more than one year and less than 48 months- 180 days of simple interest
  3. The term more than 48 months: 365 days of simple interest
• Interest can be withdrawn anytime during the CD term without any penalty
• Interest can be transferred to Synchrony bank account or other bank saving accounts

2. BMO Harris

Minimum Amount: $1000

APY / Rate: 5.000%

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 3 Year CD Rates

The best 3-year CD rates in Pennsylvania cater to investors who are aiming for a balance between a decent yield and maintaining access to their funds within a reasonable timeframe.

1.  Armed Forces Bank, N.A.

Minimum Amount: $500

APY / Rate: 4.58% 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.

2. Alaska USA FCU

Minimum Amount: $500.00

APY / Rate: 4.55% 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.

Best 5 Year CD Rates

For long-term investors, the 5-year CD rates in Pennsylvania stand out as a beacon for maximizing returns. It offers superior interest rates in exchange for extended commitment.

1. 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.

2. 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.

Pennsylvania Economic Statistics

Navigating the financial landscape of Pennsylvania requires a keen understanding of its economic statistics, which are crucial for investors and savers looking to make informed decisions.

• Pennsylvania boasts a diverse and robust economy, with an average household income of approximately $78,055, reflecting the state’s economic stability and the potential for residents to invest in savings instruments like CDs.
• The average home value in Pennsylvania, around $253,76v, indicates a relatively affordable housing market compared to national averages, potentially leaving more room for households to allocate funds towards investments.
• With a population exceeding 12.8 million, the state presents a vast market for financial products, including competitive CD rates offered by banks and credit unions aiming to attract savers seeking secure and profitable havens for their money.

Statistic	Detail
Average Household Income	Approximately $78,055
Average Home Value	Around $253,762
Population	Exceeding 12.8 million

How to Get Best CD Rates in Pennsylvania?

Securing the best CD rates in Pennsylvania requires a strategic approach, beginning with thorough market research.

• Investors should start by comparing rates offered by a variety of financial institutions, including both large banks and local credit unions, as these entities often offer competitive rates to attract depositors.
• It is highly crucial to consider the term length that aligns with your financial goals, as longer terms typically offer higher interest rates.
• Additionally, looking into online banks is wise, as they sometimes offer higher rates due to lower overhead costs.
• Moreover, establishing a relationship with a financial institution by having multiple accounts might also unlock better rates.
• Lastly, having proper information about economic trends and Federal Reserve rate changes can help predict when rates might rise, allowing you to time your investment to maximize returns.

CD Rates Methodology

The methodology behind identifying the best CD rates in Pennsylvania involves a comprehensive review of the offerings from a wide array of banks.

In this process, CD rates from 90 banks were meticulously reviewed to determine which ones offer the most advantageous terms for savers and investors. Out of these, 65 banks made the list, distinguished by their competitive interest rates, variety of term options, minimum deposit requirements, and overall customer satisfaction.

This selection process ensures that the listed CD rates not only provide excellent return opportunities but also meet a high standard of reliability and service.

Conclusion

Finding the best CD rates in Pennsylvania is an exercise in diligence and timing. By leveraging a detailed methodology, the approach underscores the importance of thorough research and comparison shopping as essential steps in securing the best possible CD rates.

As economic conditions and interest rates evolve, staying informed and adaptable will continue to be key strategies for savers looking to maximize their returns in the dynamic landscape of personal finance.

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