4.0
Our Rating

Bank or Credit Union Name: 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  • Interest is added to the account monthly which can be withdrawn without penalty
4.0
Our Rating

Bank or Credit Union Name: 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
4.0
Our Rating

Bank or Credit Union Name: 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 12-Month CD Rates

4.0
Our Rating

Bank or Credit Union Name: 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
4.0
Our Rating

Bank or Credit Union Name: 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
4.0
Our Rating
BMO Harris Bank

Bank or Credit Union Name: 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

4.0
Our Rating

Bank or Credit Union Name: 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
4.0
Our Rating

Bank or Credit Union Name: 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
4.0
Our Rating

Bank or Credit Union Name: 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

4.0
Our Rating

Bank or Credit Union Name: 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
4.0
Our Rating

Bank or Credit Union Name: 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
4.0
Our Rating

Bank or Credit Union Name: 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

4.0
Our Rating

Bank or Credit Union Name: 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
4.0
Our Rating

Bank or Credit Union Name: 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.
4.0
Our Rating

Bank or Credit Union Name: 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.