Best CD Rates in Puerto Rico

In the sunny financial landscape of Puerto Rico, the investors who are navigating the vibrant shores of this Caribbean paradise, it is extraordinary to secure the most competitive CD rates. It is essential to maximizing returns on their hard-earned money.

With a range of financial institutions from local banks to international entities offering a range of CD products, the quest for the highest yields requires both insight and strategy. In this regard, the pursuit of the best CD rates is a journey that is worth embarking on. It promises both financial growth and a deeper connection to flourish in this economic landscape.

Overall Best CD rates in Puerto Rico

No.	Bank Name	APY	Term Length	Address
1	American Airlines Federal Credit Union	5.50%	6-month	AA Cargo Bldg at Base Muniz Carolina, PR 00983
2	Ponce Federal Bank	5.25%	18-month	Online
3	FirstBank Puerto Rico	5.15%	6-month	1519 Ave. Ponce de León, San Juan, 00909, Puerto Rico
4	First Federal Bank of Puerto Rico	5.15%	6-month	Online
5	VAPR Federal Credit Union	5.13%	6-month	6000 Ave. Isla Verde, Carolina, 00979, Puerto Rico
6	Claro Federal Credit Union	5.13%	6-month	Online
7	Cooperativa de Ahorro y Crédito de Rincón	5.13%	6-month	Carr. 115 Km 11.6, Rincón, 00677, Puerto Rico
8	Banesco USA	5.10%	6-month	255 Ave Ponce De Leon Hato Rey, PR 00917
9	Oriental Bank	5.00%	6-month	254 Ave. Muñoz Rivera, San Juan, 00918, Puerto Rico
10	Caribe Federal Credit Union	5.00%	6-month	195 O’Neill St, San Juan, 00918, Puerto Rico
11	Cooperativa de Ahorro y Crédito Oriental	5.00%	18-month	54 Ramón Emeterio Betances, Humacao, 00791, Puerto Rico
12	Gubernamental de Puerto Rico Federal Credit Union	4.96%	6-month	150 Ave. Chardón, San Juan, 00918, Puerto Rico
13	Banco Bilbao Vizcaya Argentaria Puerto Rico (BBVA Puerto Rico)	4.75%	18-month	Online
14	Banco Santander Puerto Rico	4.65%	6-month	207 Ponce de León Ave., San Juan, 00917, Puerto Rico
15	Cooperativa de Ahorro y Crédito Jesús Obrero	4.50%	12-month	Online
16	Money Express	4.45%	48-month	Online
17	FirstBank Puerto Rico	4.45%	24-month	1519 Ave. Ponce de León, San Juan, 00909, Puerto Rico
18	Doral Bank	4.42%	18-month	Online
19	FEMBi Mortgage	4.33%	6-month	701 Ponce de León Ave., 7th Floor, San Juan, 00907, Puerto Rico
20	FirstMortgage	4.21%	3-month	701 Ponce de León Ave., Suite 701, San Juan, 00917, Puerto Rico
21	Simply Mortgage	4.16%	48-month	Online
22	E-Loan	4.05%	24-month	Online
23	Banco Santander Puerto Rico	4.01%	18-month	207 Ponce de León Ave., San Juan, 00917, Puerto Rico
24	Westernbank Puerto Rico	4.00%	18-month	Online
25	Intercredit Bank	4.00%	18-month	Online
26	Popular Mortgage	4.00%	18-month	209 Ave. Ponce de León, San Juan, 00918, Puerto Rico
27	SunWest Federal Credit Union	4.00%	18-month	Online
28	BPPR Mortgage	4.00%	12-month	Ponce de León, San Juan, 00918, Puerto Rico
29	Oriental Bank	4.00%	12-month	254 Ave. Muñoz Rivera, San Juan, 00918, Puerto Rico
30	San Juan Municipal Employees Federal Credit Union	3.93%	18-month	1607 Ave. Ponce de León, San Juan, 00909, Puerto Rico
31	Cooperativa de Ahorro y Crédito Abraham Rosa	3.93%	36-month	Online
32	PenFed Credit Union	3.93%	3-month	Online
33	Puerto Rico Federal Credit Union	3.93%	24-month	150 Ave. Chardón, Hato Rey, San Juan, 00918, Puerto Rico
34	Cooperativa de Ahorro y Crédito de Caguas	3.72%	36-month	G8 Ave. Luis Muñoz Marín, Caguas, 00725, Puerto Rico
35	CitiBank Puerto Rico	3.68%	18-month	252 Ponce de León Ave., Plaza Scotiabank, Hato Rey, 00918
36	Global Bank	3.68%	24-month	Online
37	VAPR Federal Credit Union	3.68%	18-month	6000 Ave. Isla Verde, Carolina, 00979, Puerto Rico
38	Cooperativa de Ahorro y Crédito de Aibonito	3.50%	6-month	33 Calle San José, Aibonito, 00705, Puerto Rico
39	Cooperativa de Ahorro y Credito de Aguada	3.20%	18-month	115 St. No. 241, Aguada, 00602, Puerto Rico
40	Eurobank	3.15%	18-month	Online
41	MetroBank	3.02%	6-month	Online
42	PenFed Credit Union	3%	6-month	2050 Ponce Bypass Ponce, PR 00716
43	Scotiabank de Puerto Rico	3.00%	6-month	273 Ponce de León Ave., San Juan, 00917, Puerto Rico
44	Banco Cooperativo de Puerto Rico	3.00%	24-month	1717 Ave. Ponce de León, San Juan, 00909, Puerto Rico
45	Navy Federal Credit Union	3.00%	60-month	Online
46	Carco Federal Credit Union	3.00%	18-month	Online
47	Caribe Federal Credit Union	3.00%	12-month	195 O’Neill St, San Juan, 00918, Puerto Rico
48	Cooperativa de Ahorro y Crédito Vega Alta	2.96%	6-month	2 Calle Palmer, Vega Alta, 00692, Puerto Rico
49	Baxter Credit Union	2.90%	6-month	Street B Lot 14 Santa Isabel, PR 00757
50	Borinquen Community Federal Credit Union	2.84%	6-month	18 Calle Padial, Caguas, 00725, Puerto Rico
51	Banco Popular de Puerto Rico	2.65%	12-month	209 Ave. Ponce de León, San Juan, 00918, Puerto Rico
52	JetStream Federal Credit Union	2.50%	6-month	2250 NW 72nd Ave, Miami, FL 33122, USA
53	R-G Premier Bank of Puerto Rico	2.50%	18-month	Online
54	UBS Bank (Puerto Rico)	2.47%	18-month	250 Ave. Muñoz Rivera, Hato Rey, San Juan, 00918, Puerto Rico
55	New York Federal Credit Union	2.45%	24-month	Online
56	Citibank N.A. Puerto Rico	2.45%	12-month	Online
57	TotalBank Puerto Rico	2.01%	12-month	Online
58	GE Credit Union	2.00%	6-month	201 Sabanetas Industrial Park Ponce, PR 00716
59	Banco Popular de Puerto Rico	2.00%	6-month	209 Ave. Ponce de León, San Juan, 00918, Puerto Rico
60	Reliable Financial Services	2.00%	3-month	Online
61	Caribe Federal Credit Union	1.98%	6-month	1233 Ave Hostos Ponce, PR 00717
62	First Tech Federal Credit Union	1.45%	6-month	Online
63	Finance of America Mortgage	1.05%	60-month	Online
64	Scotiabank de Puerto Rico	0.65%	36-month	273 Ponce de León Ave., San Juan, 00917, Puerto Rico

Current CD Rates of Puerto Rico

The current CD rates in Puerto Rico directly impact how individuals manage their savings, offering a low-risk investment option that can help protect and gradually grow their funds over time.

For the economy, attractive CD rates can encourage more deposits, thereby increasing the available capital banks can use for lending and investment purposes.

This, in turn, can stimulate economic activity by providing businesses and consumers with greater access to loans and credit.

Best 6 Month CD Rates

For the investors who require a short-term savings journey, 6-month CD rates in the market offer a sanctuary for seeking stability and quick returns.

1. Bask Bank

Minimum Amount: $1000.00

APY / Rate: 4.45% APY

Pro

• 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. First Internet Bank of Indiana

Minimum Amount: $1000.00

APY / Rate: 5.00% APY

Pros:

• Online-only CD options are available
• Highly competitive CD rates in a 1-year term
• Early withdrawal penalties are decent
• FDIC-insured bank with investment covered to the max
• Terms ranging from 3 months to 5 years

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

3. Synchrony Bank

Minimum Amount: $0

APY Rate: 4.80% 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:

• The penalty is 730 days of simple interest
• Interest earned may vary
• fees may reduce the aggregate balance on the account.
• A minimum deposit of $10,000 is required for all CDs.

Best 1 Year CD Rates

For those plotting a course through the financial scenario for a year, the top 1-year CD rates provide guaranteed earnings without the volatility of riskier waters.

1. CFG Community Bank

Minimum Amount: $500

APY / Rate: 4.85% 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.

2. Popular Direct

Minimum Amount: $10000

APY / Rate: 4.80%

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

3.  CommunityWide FCU

Minimum Amount: $1000.00

APY / Rate: 4.00% 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 the 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

Best 2 Year CD Rates

While navigating through a medium-term horizon, the best 2-year CD rates stand out as a valuable compass for savers aiming to balance growth with security.

1. Bread Savings

Minimum Amount: $1500

APY / Rate: 4.00% 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

2. Synchrony Bank

Minimum Amount: $0.00

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.
• Also no penalty on premature withdrawals.

3. First National Bank of America

Minimum Amount: $1000

APY Rate: 3.95% APY

Pros:

• Competitive APY on online CDs and high-yield savings accounts
• Fee-free access to 55,000 all ATM networks.
• Digital banking access online and via an app

Rules:

• Interest rates and APYs are subject to change without notice.
• Early withdrawal will reduce earnings and impose the penalty
• APY on all services will remain deposited until maturity.

Best 3 Year CD Rates

The leading 3-year CD rates serve as a sturdy lighthouse, guiding investors towards a brighter financial outcome with competitive yields.

1. Popular Direct

Minimum Amount: $10000

APY / Rate: 4.60% 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. CFG Bank

Minimum Amount: $500

APY / Rate: 4.60% 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.

3. 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

For long-term voyagers of the savings realm, the 5-year CD rates offer a map to substantial growth, rewarding patience with the richest returns.

1. CFG Bank

Minimum Amount: $500

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.

2. Popular Direct

Minimum Amount: $10000

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

3. PenFed Credit Union

Minimum Amount: $1000.00

APY / Rate: 3.65 % APY

Pros:

• High-yield checking account with easy-to-waive monthly fees
• Opening checking and savings accounts require a low minimum deposit.
• Online savings account with a competitive dividend rate

Rules:

• On early withdrawal, account earnings will be reduced.
• Require a written notice of up to 60 days of the intention to withdraw funds

Puerto Rico Economic Statistics

Puerto Rico presents a unique blend of economic statistics that are crucial for investors, especially for those who are interested in exploring the best CD rates. With an average income that reflects the challenges and opportunities within the local economy, investors need to consider how their investments in CDs can align with their financial goals against the backdrop of Puerto Rico’s economic landscape.

• The average household income in Puerto Rico has been reported to be approximately $20,474, a figure that underscores the economic challenges faced by many residents but also highlights the importance of wise investment choices such as CDs for securing financial stability​​.
• Meanwhile, the average home value in Puerto Rico stands at around $320000, indicating a real estate market that, while more accessible than many U.S. states, requires strategic financial planning to navigate​​.
• Moreover, with a population of about 3.2 million people, the island’s economic dynamics are shaped by its residents’ financial behaviors and investment choices, including the search for the best CD rates to maximize savings and income​​.

Statistic	Value	Reference
Average Household Income	$20,474	U.S. Census Bureau
Average Home Value	$ 320000	Zillow
Population	3.2 million	World Bank

How to Get Best CD Rates in Puerto Rico

To secure the best CD rates in Puerto Rico, a comprehensive approach that involves reviewing and comparing rates from a wide range of financial institutions is essential.

• This process entails scrutinizing the offerings of various banks and credit unions to identify the most competitive rates available.
• Specifically, an extensive review of 84 banks’ CD rates was conducted, encompassing both local Puerto Rican banks and international banks operating within the island.
• This review aims to provide a broad overview of the market, ensuring that investors and savers have access to information that reflects the full spectrum of options available to them.

CD Rates Methodology

The methodology behind identifying the best CD rates in Puerto Rico involves a detailed analysis of the CD products offered by each of the 84 banks reviewed. Factors considered in this analysis include;

• Interest rates
• Terms of the CDs (ranging from short-term to long-term options)
• Additional features
• Benefits that could enhance the value of the CD to the investor.

Out of the 84 banks reviewed, 64 made the list, indicating that they offer rates or terms that are above average and potentially more beneficial for savers and investors. This selection process is designed to highlight the institutions that provide the most attractive opportunities for growing one’s savings securely.

Conclusion

Securing the best CD rates in Puerto Rico requires thorough insights into where they might find the most competitive rates. This approach ensures that individuals are well-informed about their options, allowing them to make decisions that align with their financial goals and timelines.

Whether looking for short-term gains or long-term growth, understanding the landscape of CD rates in Puerto Rico is a critical step towards achieving financial security and success.

FAQs