Best CD Rates in Seattle, Washington

Seattle, Washington, can be a golden opportunity for savers looking to securely grow their funds. With the ever-changing financial landscape, investors are always on the lookout for the most attractive interest rates that banks and credit unions have to offer.

Moreover, Seattle’s diverse banking scene offers a variety of options to suit different financial strategies.

The following guide aims to navigate through the bustling financial aspects of the city. It will help you to lock in the best CD rates and make your savings work harder for you.

Overall Best CD rates in Seattle, Washington

No.	Name of the Bank	APY %	Term Length	Address
1	O Bee Credit Union	5.30%	9-month	3900 Cleveland Ave, Olympia, WA 98501
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	Beneficial State Bank	5.00%	12-month	1605 Martin Luther King Jr Way, Tacoma, WA 98405
6	HSBC Bank USA, National Association	4.80%	12-month	800 5th Ave, Seattle, WA 98104
7	Harborstone Credit Union	4.55%	12-month	901 S 348th St, Federal Way, WA 98003
8	PenFed Credit Union	4.50%	12-month	13215 SE Mill Plain Blvd, Vancouver, WA 98684
9	Alaska USA Federal Credit Union	4.45%	12-month	5615 Pacific Hwy E, Fife, WA 98424
10	Sound Credit Union	4.21%	12-month	1521 1st Ave S, Seattle, WA 98134
11	First Sound Bank	4.20%	12-month	925 4th Ave #2350, Seattle, WA 98104
12	First Technology Federal Credit Union	4.07%	12-month	404 6th Ave N, Seattle, WA 98109
13	Coastal Community Bank	4.05%	12-month	105 5th St, Wenatchee, WA 98801
14	Timberland Bank	4.01%	12-month	624 Simpson Ave, Hoquiam, WA 98550
15	Columbia State Bank	4.01%	24-month	1301 A St #800, Tacoma, WA 98402
16	Beneficial State Bank	4.00%	12-month	2600 Tenth St, Berkeley, CA 94710
17	Seattle Metropolitan Credit Union	4.00%	12-month	801 2nd Ave #800, Seattle, WA 98104
18	Washington Trust Bank	4.00%	18-month	720 Olive Way, Seattle, WA 98101
19	Gesa Credit Union	4.00%	36-month	51 Gage Blvd, Richland, WA 99352
20	Columbia Credit Union	4.00%	18-month	200 SE Park Plaza Dr #100, Vancouver, WA 98684
21	Peoples Bank	3.98%	3-month	418 Grover St, Lynden, WA 98264
22	Verity Credit Union	3.93%	12-month	11027 Meridian Ave N, Seattle, WA 98133
23	Mountain Pacific Bank	3.92%	12-month	3733 Broadway #101, Everett, WA 98201
24	1st Security Bank	3.76%	3-month	6920 220th St SW, Mountlake Terrace, WA 98043
25	HomeStreet Bank	3.65%	6-month	601 Union St, Seattle, WA 98101
26	Denali Federal Credit Union	3.50%	12-month	4000 Credit Union Dr, Anchorage, AK 99503
27	Sound Community Bank	3.50%	12-month	2005 5th Ave, Seattle, WA 98121
28	Home Federal Bank	3.45%	24-month	500 W Front St, Boise, ID 83702
29	First Financial Northwest Bank	3.45%	12-month	1017 S 3rd St, Renton, WA 98057
30	Washington Trust Bank	3.25%	12-month	720 Olive Way, Seattle, WA 98101
31	First Tech Federal Credit Union	3.09%	24-month	Online
32	Union Bank	3.02%	18-month	Online
33	Union Bank of California	3.01%	24-month	Online
34	Sound Community Bank	3.00%	24-month	2005 5th Ave, Seattle, WA 98121
35	Opus Bank	3.00%	18-month	Online
36	Homestreet Bank	2.75%	36-month	601 Union St, Seattle, WA 98101
37	Mutual of Omaha Bank	2.68%	24-month	500 108th Ave NE #100, Bellevue, WA 98004
38	AmericanWest Bank	2.66%	24-month	41 W Riverside Ave, Spokane, WA 99201
39	Evergreen Home Loans	2.50%	6-month	5701 Sixth Ave S, Seattle, WA 98108
40	Watermark Credit Union	2.00%	24-month	302 W Reynolds Ave, Centralia, WA 98531
41	Solarity Credit Union	2.00%	18-month	110 N 5th Ave, Yakima, WA 98901
42	First Sound Bank	1.98%	13-month	925 4th Ave #2350, Seattle, WA 98104
43	Seattle Bank	1.89%	12-month	600 University St #2300, Seattle, WA 98101
44	People’s Bank	1.00%	12-month	418 Grover St, Lynden, WA 98264

Current CD Rates of Seattle, Washington

As banks and credit unions in the region compete for customers, they offer varied rates on CDs. It can be a crucial component for individuals looking to diversify their investment portfolios or secure a steady return on their savings without the volatility associated with the stock market.

These rates not only reflect the current state of the local economy but also offer insight into broader national financial trends. This makes them a key indicator for anyone aiming to optimize their savings strategy.

Best 6 Month CD Rates

In the dynamic financial landscape of Seattle, Washington, finding the best 6-month CD rates is a smart move for short-term savers looking for a safe haven for their funds.

1. Bask Bank

Minimum Amount: $0

APY / Rate: 4.00%

Pros:

• Excellent customer support
• Leading 6-month interest rate across the nation
• FDIC insurance with max coverage
• CD terms available from 6 months to 24 months

Rules:

• Both online and at-branch CD opening options are available
• The account becomes functional after $1000 is deposited within 10 days
• Terms can be altered within 10 days grace period at maturity
• Interest is added to the account monthly which can be withdrawn without penalty

2. HSBC Bank USA, National Association

Minimum Amount: $1000

APY / Rate: 3.50%

Pros:

• CDs for all existing HSBC Premier customers
• 6, 12, and 24 months CD options available
• Online account opening facility
• $0 Liability Online, Guarantee from bank
• FDIC-insured to the max

Rules:

• CD starts earning interest immediately after funding
• Daily compounding of interest with account credit at the end of the month
• The CD term can be altered or more funds can be added to it during the grace period after maturity

3. Merrick Bank

Minimum Amount: $25000

APY / Rate: 4.40%

Pros:

• Top-tier APY on CD
• 24/7 access to the account through online banking
• CD options ranging from 3 to 6 months
• FDIC-insured banking

Rules:

• CD can be booked in the name of one person or joint accounts in the names of more than one person
• Truth-in-Savings disclosure with detailed information about the CD is shared with the customer
• Interest is accrued and credited to the account monthly.

Best 1 Year CD Rates

The best 1-year CD rates in Seattle offer an attractive balance between yield and time commitment. It is appealing to those who wish to enhance their savings growth over a moderate period.

1. First Internet Bank of Indiana

Minimum Amount: $1000

APY / Rate: 4.59%

Pros:

• Low early withdrawal penalty
• 3 months to 5 years CD option available
• Premium APY rate on CDs
• FDIC insured banking

Rules:

• CD earns compounded interest on a monthly basis
• The interest is added to the account at the month’s end
• Premature withdrawal of funds or termination of CD is penalized.
• The penalty amount depends on the term and funds invested;
• 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

2. Bread Savings

Minimum Amount: $1500

APY / Rate: 4.50%

Pros:

• Quick and hassle-free account opening process
• Top-tier APY with different CD terms
• $1 million deposit limit per account
• $10 million deposit limit per customer

Rules:

• CD earns daily interest on a compounding basis
• The interest is added to the account at the end of the month
• Any changes to the term can be only made post maturity; during the 10-day grace period

3. BMO Harris

Minimum Amount: $1000

APY / Rate: 4.50%

Pros:

• Reasonable minimum balance obligation
• FDIC-Insured banking options
• Excellent customer support
• Online and at-branch banking options are available

Rules:

• CDs can be opened online or by contacting the branch in person or telephonically
• Interest is compounded monthly and credited to the account every month
• On maturity, during the 10 days grace period, an investor can alter the CD term to renew
• CD gets auto-renewed after 10 days post maturity
• The final amount is transferred to a BMO Harris account or paid via check

Best 2 Year CD Rates

For savers who are aiming for a middle ground in investment duration, the 2-year CD rates in Seattle present a compelling choice.

1. HSBC Direct

Minimum Amount: $1000

APY / Rate: 4.50%

Pros:

• Competitive APY on a 2-year CD
• Hasslefree account opening with excellent customer support
• $0 Liability Online Coverage
• Daily compounding of interest

Rules:

• Investors can open a website through the bank’s website.
• Interest is compounded daily and credited to the account every month
• The CD makes interest as soon as funds are added to the account
• The grace period at maturity allows alteration in CD terms. Investors can consume the CD or add more money and renew

2. Popular Direct

Minimum Amount: $10000

APY / Rate: 4.50%

Pros:

• Best-in-class APY rates
• No maintenance charges or monthly fees
• Internet banking and personal banking option
• FDIC-Insured banking to the maximum permitted by law

Rules:

• The CD earns daily interest, compounded monthly and added to the account at month’s end
• Premature withdrawal from CD has been penalized with an amount equal to 90-days simple interest for a CD less than 12 months and 180-days simple interest for CD more than 12 months

3. Sallie Mae

Minimum Amount: $2500

APY / Rate: 4.50%

Pros:

• CD terms available from 6-months to 5 years
• CDs get auto-renewed after the grace period
• No hidden charges or monthly fee
• FDIC-insured banking

Rules:

• The bank offers monthly, quarterly, yearly, or at-maturity interest disbursement choice
• 90 days simple interest is charged as a penalty for early withdrawal of a CD with a term less than 12 months, the penalty is 180-days interest in case of a CD with a term of more than 12 months
• Any changes to the CD term and funds can be done during the grace period only

Best 3 Year CD Rates

3-year CD rates in Seattle can significantly bolster an investor’s portfolio with relatively stable returns over a manageable period.

1. Popular Direct

Minimum Amount: $10000

APY / Rate: 4.55%

Pros:

• Best APY for 3 years CD term
• Easy access to the account
• Excellent customer support
• No maintenance or hidden charges
• FDIC-insured investment option

Rules:

• The guaranteed APY can be earned only when the amount and earned interest remain in the account till maturity
• Monthly compounding of interest with transfers during month end
• There is a penalty for withdrawing the funds from the CD before maturity
• The grace period post maturity allows the investor to make any changes to the term, add more amount and renew the CD

2. Alliant Credit Union

Minimum Amount: $1000

APY / Rate: 4.50%

Pros:

• No limit on the maximum deposit amount
• 12 months to 60 months CD options available
• NCUA-insured Credit union
• Dividends can be withdrawn without penalty

Rules:

• The CDs are booked online only.
• Dividends to the CD are added to the account every month, preferably on the last day of the month.
• A penalty is charged on premature withdrawal of CD

3. First Internet Bank of Indiana

Minimum Amount: $1000

APY / Rate: 4.44%

Pros:

• Best rate of interest
• 3-month to 5 years CD terms available
• FDIC-insured investment
• Robust customer support system

Rules:

• CD can be booked online exclusively
• Monthly compounding interest is 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 5 Year CD Rates

Long-term savers focused on maximizing their interest earnings will find the 5-year CD rates in Seattle particularly enticing.

1. Bread Savings

Minimum Amount: $1500

APY / Rate: 4.75%

Pros:

• Highest 5-year CD rate in Seattle
• Quick and hassle-free account opening
• $1 million maximum investment per account
• $10 million maximum investment per customer

Rules:

• Interest accrued and compounded daily and credited to the account at month’s end
• At maturity, the CD gets auto-renewed after a grace period of 10 days
• The investor can add more funds to the CD or change the terms during the grace period
• There is a penalty charged on early withdrawal

2. CFG Bank

Minimum Amount: $1500

APY / Rate: 4.60%

Pros:

• Highest APY with lowest minimum amount requirement
• FDIC insured investment
• Strong customer services

Rules:

• CD earns APY only on successful completion
• There is an early withdrawal penalty provision.
• Interest is compounded monthly and credited to the account at every month’s end.

3. Quontic Bank

Minimum Amount: $500

APY / Rate: 4.75%

Pros:

• Low minimum amount slab to invest
• Hassle-free and quick account opening
• FDIC insured
• One among the top 6 rates in the country

Rules:

• Interest on CD is compounded daily and added to the account at every month’s end.
• The daily balance method is used to calculate interest.
• A penalty is imposed on early withdrawal of the CD.

Seattle, Washington Economic Statistics

Seattle, Washington, stands as a vibrant economic hub with statistics that offer valuable insights for investors and savers looking to navigate the CD rates landscape.

• With an average household income estimated at $102,486, Seattle positions itself above the national average, reflecting the city’s strong job market and the presence of major corporations.
• The average home value in Seattle is also notable, sitting at approximately $815,858, showcasing the city’s robust real estate market and the high demand for housing in the area.
• Moreover, with a population of over 750,000 residents, Seattle’s diverse demographic contributes to a dynamic economic environment.

These factors combined provide a backdrop for understanding the competitive CD rates offered by financial institutions in Seattle.

Statistic	Value
Average Household Income	$102,486
Average Home Value	$815,858
Population	Over 750,000

How to Get Best CD Rates in Seattle, Washington?

To secure the best CD rates in Seattle, Washington, it’s crucial to adopt a proactive and informed approach.

• Start by researching and comparing rates from a broad range of financial institutions, including both local banks and credit unions.
• These entities often offer competitive rates to attract and retain customers within the local economy.
• Additionally, consider online banks, as they sometimes provide higher rates due to lower overhead costs.
• Engaging with financial advisors or using online comparison tools can further refine your search. It will help you to identify the best rates that align with your financial goals and the duration you’re comfortable with.

CD Rates Methodology

Our methodology for determining the best CD rates in Seattle involved an extensive review of CD rates from over 80 banks.

This comprehensive analysis included a mix of large national banks, local banks, and credit unions, ensuring a broad spectrum of options for potential investors.

Out of these, 44 financial institutions made our list, selected based on the competitiveness of their rates, the variety of terms they offer, and their accessibility to Seattle residents. This approach ensures that our recommendations reflect a balanced mix of high returns, flexibility, and reliability, catering to the diverse needs and preferences of savers in Seattle.

Conclusion

Finding the best CD rates in Seattle requires reviewing rates based on their superior offerings, and aims to provide a comprehensive guide for navigating this space. Remember, the best CD rate for you will align with your financial goals, investment timeframe, and the level of risk you’re willing to accept.

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