Best CD Rates in Washington

Washington‘s diverse financial landscape offers a variety of options to fit your financial goals.

From local credit unions known for their personalized service and community focus to large national banks offering the security of widespread recognition, finding the best CD rate is a crucial step towards maximizing your savings potential.

As interest rates fluctuate in response to economic trends, staying informed about the latest offerings in this Evergreen State can ensure your investments grow steadily. Let’s explore the details in the most comprehensive way possible.

Overall Best CD rates in Washington

No.	Name of the Bank	APY	Term Length	Address
1	Twin River Bank	5.25%	6-month	650 N 5th St, Shelton, WA 98584
2	Northwest Bank	5.13%	12-month	5726 E Lake Sammamish Pkwy SE, Issaquah, WA 98029
3	Salal Credit Union	5.13%	12-month	520 Pike St #2500, Seattle, WA 98101
4	Seattle Bank	5.12%	12-month	600 University St #2300, Seattle, WA 98101
5	Beal Bank USA	5.01%	6-month	OnLine
6	Pacific NW Federal Credit Union	5.00%	6-month	33616 Pacific Hwy S, Federal Way, WA 98003
7	Beneficial State Bank	5.00%	12-month	1605 Martin Luther King Jr Way, Tacoma, WA 98405
8	Grandpoint Bank	4.93%	6-month	Online
9	Opus Bank	4.93%	6-month	Online
10	Lighthouse Community Credit Union	4.88%	6-month	501 N F St, Aberdeen, WA 98520
11	Fibre Federal Credit Union	4.87%	6-month	822 Commerce Ave, Longview, WA 98632
12	Wauna Federal Credit Union	4.86%	6-month	101 E Sterling St, Rockaway Beach, OR 97136
13	Northwest Bank	4.85%	10-month	5726 E Lake Sammamish Pkwy SE, Issaquah, WA 98029
14	P1FCU	4.85%	6-month	2020 Jennie Lee Dr, Lewiston, ID 83501
15	HSBC Bank USA, National Association	4.80%	12-month	800 5th Ave, Seattle, WA 98104
16	Kitsap Credit Union	4.77%	6-month	155 Washington Ave, Bremerton, WA 98337
17	Alaska Airlines/Horizon Air Employees FCU	4.75%	6-month	19530 International Blvd, Seattle, WA 98188
18	Harborstone Credit Union	4.55%	12-month	901 S 348th St, Federal Way, WA 98003
19	Navy Federal Credit Union	4.50%	18-month	1833 S 320th St, Federal Way, WA 98003
20	PenFed Credit Union	4.50%	12-month	13215 SE Mill Plain Blvd, Vancouver, WA 98684
21	Sound Credit Union	4.45%	18-month	1521 1st Ave S, Seattle, WA 98134
22	Alaska USA Federal Credit Union	4.45%	12-month	5615 Pacific Hwy E, Fife, WA 98424
23	Sound Credit Union	4.44%	6-month	1521 1st Ave S, Seattle, WA 98134
24	PenFed Credit Union	4.30%	18-month	13215 SE Mill Plain Blvd, Vancouver, WA 98684
25	First Technology Federal Credit Union	4.22%	6-month	404 6th Ave N, Seattle, WA 98109
26	Sound Credit Union	4.21%	12-month	1521 1st Ave S, Seattle, WA 98134
27	First Sound Bank	4.20%	12-month	925 4th Ave #2350, Seattle, WA 98104
28	Olympia Federal Savings and Loan Association	4.15%	18-month	421 Capitol Way S, Olympia, WA 98501
29	First Technology Federal Credit Union	4.07%	12-month	404 6th Ave N, Seattle, WA 98109
30	Seattle Credit Union	4.05%	18-month	1521 1st Ave S, Seattle, WA 98134
31	HSBC Bank USA, National Association	4.00%	6-month	800 5th Ave, Seattle, WA 98104
32	Spokane Teachers Credit Union (STCU)	4.00%	18-month	1620 N Signal Dr, Liberty Lake, WA 99019
33	BECU (Boeing Employees Credit Union)	4.00%	12-month	12770 Gateway Dr S, Tukwila, WA 98168
34	Beneficial State Bank	4.00%	12-month	2600 Tenth St, Berkeley, CA 94710
35	Seattle Metropolitan Credit Union	4.00%	12-month	801 2nd Ave #800, Seattle, WA 98104
36	First Federal Savings and Loan Association of Port Angeles	3.97%	6-month	105 W 8th St, Port Angeles, WA 98362
37	Numerica Credit Union	3.93%	18-month	14610 E Sprague Ave, Spokane Valley, WA 99216
38	Mountain Pacific Bank	3.92%	12-month	3733 Broadway #101, Everett, WA 98201
39	Boeing Employees Credit Union	3.56%	18-month	12770 Gateway Dr S, Tukwila, WA 98168
40	Umpqua Bank	3.50%	6-month	255 108th Ave NE #100, Bellevue, WA 98004
41	Generations Credit Union	3.50%	18-month	415 W Main St, Spokane, WA 99201
42	Denali Federal Credit Union	3.50%	12-month	4000 Credit Union Dr, Anchorage, AK 99503
43	Sound Community Bank	3.50%	12-month	2005 5th Ave, Seattle, WA 98121
44	Thurston First Bank	3.46%	18-month	600 Franklin St SE, Olympia, WA 98501
45	Harborstone Credit Union	3.40%	18-month	901 S 348th St, Federal Way, WA 98003
46	Washington Trust Bank	3.25%	12-month	720 Olive Way, Seattle, WA 98101
47	Washington State Employees Credit Union	3.10%	18-month	330 Union Ave SE, Olympia, WA 98501
48	Security State Bank	3.05%	18-month	122 W Main St, Chehalis, WA 98532
49	PenFed Credit Union	3.00%	6-month	13215 SE Mill Plain Blvd, Vancouver, WA 98684
50	Gesa Credit Union	3.00%	18-month	51 Gage Blvd, Richland, WA 99352
51	TwinStar Credit Union	3.00%	18-month	711 Capitol Way S, Olympia, WA 98501
52	WSECU (Washington State Employees Credit Union)	3.00%	12-month	330 Union Ave SE, Olympia, WA 98501
53	Banner Bank	3.00%	36-month	10 S 1st Ave, Walla Walla, WA 99362
54	Alaska USA Federal Credit Union	2.70%	18-month	5615 Pacific Hwy E, Fife, WA 98424
55	Wells Fargo Bank, National Association	2.50%	6-month	999 3rd Ave, Seattle, WA 98104
56	South Sound Bank	2.10%	18-month	6725 Martin Way E, Olympia, WA 98516
57	Timberland Bank	2.10%	18-month	624 Simpson Ave, Hoquiam, WA 98550
58	Kitsap Credit Union	1.98%	18-month	155 Washington Ave, Bremerton, WA 98337
59	Sound Credit Union	1.88%	18-month	1521 1st Ave S, Seattle, WA 98134
60	Verity Credit Union	1.28%	18-month	11027 Meridian Ave N, Seattle, WA 98133
61	Bank of America, National Association	0.03%	6-month	701 5th Ave, Seattle, WA 98104

Current CD Rates of Washington

Understanding the current CD rates is essential for making informed decisions that align with one’s financial goals and risk tolerance.

With rates influenced by factors such as the Federal Reserve’s monetary policy, inflation expectations, and the overall demand for credit, the interest rates determine how much return savers can expect on their deposits.

Higher rates typically indicate a more attractive savings environment, encouraging individuals to lock in their funds for set periods, while lower rates might push savers to explore alternative investment opportunities.

Best 6 Month CD Rates

6-month CD rates in Washington stand out for those aiming to earn a decent return over a brief period.

1. First Technology Federal Credit Union

Minimum Amount: $500

APY Rate: 2.30% APY

Pros:

• NCUA insured
• Less risky investment
• Free Online and Mobile Banking

Rules:

• Share Certificate Account will automatically renew upon the Maturity Date
• Need to instruct us prior to the expiration of ten days grace period to renew or close the Share Certificate Account
• Reserve the right to change the terms without notice

2. Wings Financial

Minimum Amount: $500.00

APY Rate: 1.10% APY

Pros:

• Pay high-interest rates
• No monthly charges
• Easy to become a member of the credit union

Rules:

• Membership required
• Penalty for early withdrawal
• Insured by NCUA
• Quarterly compounding for amounts less than $100,000
• Monthly compounding for amounts of $100,000

3. Kitsap Bank

Minimum Amount: $500.00

APY Rate: 0.50% APY

Pros:

• No annual fee.
• Multiple credit card perks.
• Extended warranty on purchases.
• Travel accident insurance.

Rules:

• Interest Crediting quarterly
• Penalty charged for any early withdrawal or redemption.

Best 1 Year CD Rates

For individuals aiming to balance a moderate term of investment with competitive returns, 1-year CD rates in Washington offer an appealing compromise.

1. Wings Financial

Minimum Amount: $500

APY Rate: 1.51% APY

Pros:

• No monthly service fees
• Pays high-interest rates on accounts
• Easy to become a member of a credit union and bank online

Rules:

• Interest compounded monthly or quarterly
• Penalties apply for early withdrawals from certificate accounts.

2. Blue FCU

Minimum Amount: $0

APY Rate: 4.60% APY

Pros:

• No monthly fee, ATM charges & minimum deposit needed
• Pay bills to anyone through the United States
•  Offers an annual percentage yield of up to 2%

Rules:

• Limit one per social security number.
• A minimum daily balance of $25.00 is required to earn dividends.
• The rate changes once the balance exceeds $5,000.
• Dividends are compounded daily and paid quarterly.

3. First National Bank of America

Minimum Amount: $1000

APY Rate: 4.40% APY

Pros:

• Competitive APYs 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 2 Year CD Rates

Investors looking to stretch their investment horizon a bit further will find 2-year CD rates in Washington an attractive option.

1. Lafayette State Bank

Minimum Amount: $500

APY Rate: 4.11% APY

Pros:

• The minimum balance required is low.
• All CD terms have competitive rates.
• Online and mobile banking are both free.

Rules:

• Federally Insured by NCUA
•  Certificates will automatically renew upon maturity
• Early withdrawal penalties may apply.

2. Wings Financial

Minimum Amount: $500

APY Rate: 1.66% APY

Pros:

• No monthly service fees
• Pays high-interest rates on accounts
• Easy to become a member of a credit union and bank online

Rules:

• Interest compounded monthly or quarterly
• Membership with a $5 Share Account required.
• Rates are subject to change.
• Penalties apply for early withdrawals from certificate accounts.

3. Navy Federal Credit Union

Minimum Amount: $1000

APY Rate: 3.95% APY

Pros:

• Certificates at competitive prices
• Most savings and checking accounts have no monthly fees.
• A large network of fee-free ATMs

Rules:

• Five CD options available through Navy Federal
• Standard certificate rates are based on both term length and balance amount.

Best 3 Year CD Rates

With a view towards a more stable and slightly longer investment period, 3-year CD rates in Washington appeal to individuals seeking higher yields while still maintaining a relatively conservative risk profile.

1. Alliant Credit Union

Minimum Amount: $1000

APY Rate: 4.50% 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
• Without monthly services.
• Free domestic incoming wire transfers on savings account
• Interest Accrued and compounded daily & Credited and posted monthly

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

3. Sallie Mae Bank

Minimum Amount: $2500

APY Rate: 4.50% APY

Pros:

• No monthly fee
• Higher APY on CDs
• No minimum opening deposits on savings and money market accounts

Rules:

• Interest disbursements are available monthly, quarterly, annually or at maturity.
• Customers face fines if they remove money before the maturity date.

Best 5 Year CD Rates

For long-term savers and investors, 5-year CD rates in Washington offer the highest interest rates among standard CD terms. These are ideal for those with a long-term savings strategy and a desire for maximum interest accumulation.

1. Capital One

Minimum Amount: $0

APY Rate: 4.25% APY

Pros:

• No market risk.
• Easy to open.
• FDIC insured investment
• No minimum balance.

Rules:

• CD rates are fixed upon opening the account.
• interest that is accrued daily but paid and compounded monthly
• Actual earnings may vary.

2. Popular Direct

Minimum Amount: $10000

APY Rate: 4.35% 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:

• 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.

3. Ally Bank

Minimum Amount: $0

APY Rate: 4.10% APY

Pros:

• Easy to access bank services anytime, anywhere with the Ally Mobile app.
• Your money is secured by FDIC.
• No monthly maintenance fees.

Rules:

• Get the best rate for your CD term
• Ally Ten Day Best Rate Guarantee
• Money grows with interest compounded daily.

Washington Economic Statistics

Washington State presents a dynamic and robust economic landscape for investors. The state’s average income, home values, and population metrics are pivotal for understanding the investment environment, including the landscape for CD rates.

• Washington’s average household income is notably high, reflecting the state’s strong job market and the presence of major corporations. With median household income in Washington to be approximately $78,687, which is above the national average. This higher disposable income provides residents with more flexibility to invest in savings products, including CDs, potentially driving demand for more competitive rates.
• The real estate market in Washington has seen significant growth, the average home value in the state to be around $559,000. This growth is indicative of a strong economy but also highlights the importance of investing in CDs as a low-risk option to balance out more volatile investments like real estate.
• Last but not the least, with a population surpassing 7 million people, Washington’s demographic diversity and growth contribute to a vibrant banking sector.

For savers and investors, these statistics underline the importance of considering both the broader economic indicators and personal financial goals when choosing CD investments in Washington.

Metric	Value
Average Household Income	$78,687
Average Home Value	$559,000
Population	7.7 million

How to Get Best CD Rates in Washington?

To secure the best CD rates in Washington, it’s essential to adopt a comprehensive approach that involves researching and comparing offerings from a wide range of financial institutions.

• This process should include not only the state’s largest banks but also smaller community banks and credit unions, as they often offer more competitive rates to attract and retain customers.
• Savers should consider factors beyond the interest rate alone, such as the term length, minimum deposit requirements, and early withdrawal penalties, which can all affect the overall return on investment.
• Most importantly, staying informed about the broader economic environment, including Federal Reserve policy changes and inflation trends, can also provide insight into how CD rates might shift, helping investors time their decisions effectively.

CD Rates Methodology

In our analysis of CD rates in Washington, we reviewed offerings from a total of 89 banks, encompassing a diverse mix of large national banks, regional banks, and local credit unions.

This comprehensive review was aimed at providing a broad overview of the CD rate landscape in the state. Out of these, 61 financial institutions made our list, selected based on the competitiveness of their rates, the variety of term options available, and their overall reputation and reliability.

Our methodology focused on identifying institutions that offer the best combination of high interest rates and customer-friendly terms, ensuring savers can find options that best meet their financial goals and preferences.

Conclusion

As economic conditions evolve, staying informed and flexible can help investors adapt their strategies to benefit from the best CD rates available, ultimately achieving their saving and investment objectives. Our above-described review of 89 banks, leading to a refined list of 64, underscores the diversity and competitiveness of Washington’s banking landscape.

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