Best CD Rates in West Virginia

West Virginia, investors explore the financial landscape for the most rewarding CD rates.

Whether you’re planning for a short-term goal or a long-term investment, the right CD can provide a secure and stable return on your savings, much like the enduring strength of the mountain ranges.

In this quest for financial growth, let’s explore the top CD rates in the Mountain State, offering you a pathway to secure and enhance your financial future.

Overall Best CD rates in West Virginia

No.	Bank Name	APY	Term Length	Address
1	Citizens Bank of Weston, Inc.	5.25%	6-month	201 Main Ave, Weston, WV 26452
2	West Virginia University Employees Federal Credit Union	5.25%	18-month	One Waterfront Pl, Morgantown, WV 26505
3	Progressive Bank, National Association	5.18%	6-month	817 Fifth Ave, Huntington, WV 25701
4	Able Federal Credit Union	5.00%	6-month	20 Ferguson Dr, Charleston, WV 25301
5	Bank of Mingo	5.00%	6-month	1 Mingo Plaza, Williamson, WV 25661
6	First Peoples Community Federal Credit Union	5.00%	6-month	72 Walnut St, Huntington, WV 25705
7	WEE Federal Credit Union	5.00%	6-month	216 N 3rd St, Clarksburg, WV 26301
8	Huntington Federal Savings Bank	4.85%	6-month	1049 Fifth Ave, Huntington, WV 25701
9	One Community Federal Credit Union	4.75%	6-month	531 29th St, Huntington, WV 25702
10	CNB Bank	4.68%	3-month	101 N 3rd St, Clearfield, PA 16830
11	Unify Financial Credit Union	4.50%	6-month	2000 E McFadden Ave, Santa Ana, CA 92705
12	Members Choice WV Federal Credit Union	4.50%	12-month	105 N Queen St, Martinsburg, WV 25401
13	Star USA Federal Credit Union	4.45%	24-month	2500 Grier Ave, Wilmington, DE 19804
14	Monongahela Valley Association of Health Centers Federal Credit Union	4.45%	24-month	1163 Van Voorhis Rd #100, Morgantown, WV 26505
15	Peoples Bank	4.45%	3-month	138 Putnam St, Marietta, OH 45750
16	Union Bank, Inc.	4.35%	6-month	101 W Washington St, Charles Town, WV 25414
17	Ohio Valley Community Credit Union	4.30%	3-month	Online
18	Bayer Heritage Federal Credit Union	4.25%	3-month	Online
19	WV Central Credit Union	4.21%	3-month	809 Greenbag Rd, Morgantown, WV 26501
20	Pendleton Community Bank	4.16%	48-month	408 Thorn Creek Rd, Franklin, WV 26807
21	Poca Valley Bank, Inc.	4.14%	6-month	7033 Charleston Rd, Ripley, WV 25271
22	Mon HealthCare Federal Credit Union	4.05%	24-month	1200 J D Anderson Dr, Morgantown, WV 26505
23	West Virginia Federal Credit Union	4.01%	18-month	200 Virginia St E, Charleston, WV 25301
24	Centra Bank	4.01%	3-month	990 Washington St E, Charleston, WV 25301
25	First Neighborhood Bank	4.00%	6-month	2878 Robert C Byrd Dr, Beckley, WV 25801
26	One Community Federal Credit Union	4.00%	18-month	531 29th St, Huntington, WV 25702
27	Ohio Valley Community Federal Credit Union	4.00%	18-month	2716 Sunset Blvd, Steubenville, OH 43952
28	Woodco Federal Credit Union	4.00%	12-month	801 Jefferson Ave, Moundsville, WV 26041
29	Fairmont Federal Employees Federal Credit Union	4.00%	12-month	301 Traction St, Fairmont, WV 26554
30	Tri State Federal Credit Union	4.00%	12-month	300 1st Ave, South Charleston, WV 25303
31	STAR Bank	4.00%	3-month	1301 A St #800, Tacoma, WA 98402
32	Citizens Savings Bank	3.94%	3-month	Online
33	First National Bank of Powhatan Point	3.94%	3-month	Online
34	Fairmont Federal Credit Union	3.93%	36-month	202 Gaston Ave, Fairmont, WV 26554
35	United Federal Credit Union	3.93%	3-month	2807 S State St, St Joseph, MI 49085
36	Huntington City Employees Federal Credit Union	3.93%	24-month	900 6th Ave, Huntington, WV 25701
37	City of Charleston Federal Credit Union	3.93%	48-month	510 Virginia St E, Charleston, WV 25301
38	West Virginia State University Federal Credit Union	3.93%	12-month	2910 Kanawha Terrace, Saint Albans, WV 25177
39	Community Bank of Parkersburg	3.93%	3-month	631 Juliana St, Parkersburg, WV 26101
40	Capon Valley Bank	3.93%	18-month	2873 Northwestern Pike, Capon Bridge, WV 26711
41	First Exchange Bank	3.84%	6-month	996 Main St, Mannington, WV 26582
42	Citizens Bank of Morgantown, Inc.	3.75%	6-month	265 High St, Morgantown, WV 26505
43	The Bank of Romney	3.72%	36-month	98 W Main St, Romney, WV 26757
44	Mountaineer Federal Credit Union	3.68%	24-month	300 Galleria Plaza, Beckley, WV 25801
45	Mountain Valley Bank, N.A.	3.50%	6-month	1065 E Main St, Moorefield, WV 26836
46	Huntington Firemen’s Federal Credit Union	3.35%	18-month	536 9th St, Huntington, WV 25701
47	Parkersburg Federal Credit Union	3.02%	6-month	1305 Murdoch Ave, Parkersburg, WV 26101
48	PenFed Credit Union	3%	6-month	1900 17th St, Bldg 2800, Tysons, VA 22102
49	Woodforest National Bank	3.00%	3-month	13331 Midlothian Turnpike, Midlothian, VA 23113
50	Advantage One Federal Credit Union	3.00%	60-month	Online
51	Charleston Postal Federal Credit Union	3.00%	18-month	300 Kanawha Blvd E, Charleston, WV 25301
52	Sheet Metal Workers Federal Credit Union	3.00%	24-month	420 Ferguson Dr, Charleston, WV 25301
53	First Exchange Bank	3.00%	3-month	996 Main St, Mannington, WV 26582
54	Premier Bank	3.00%	3-month	316 Adams St, Fairmont, WV 26554
55	Chessie Federal Credit Union	2.75%	6-month	5607 13th St, Vienna, WV 26105
56	Telbec Federal Credit Union	2.72%	36-month	1123 Blaine St, Bluefield, WV 24701
57	WVA Central Credit Union	2.65%	12-month	809 Greenbag Rd, Morgantown, WV 26501
58	Transcend Credit Union	2.60%	6-month	Online
59	Weirton Steel Federal Credit Union	2.45%	24-month	125 N 4th St, Weirton, WV 26062
60	First Choice America Community Federal Credit Union	1.45%	6-month	3501 Jacob St, Wheeling, WV 26003
61	Charleston Area Medical Center Federal Credit Union	1.28%	24-month	3200 MacCorkle Ave SE, Charleston, WV 25304
62	Summit Community Federal Credit Union	1.05%	60-month	3801 Emerson Ave, Parkersburg, WV 26104

Current CD Rates of West Virginia

The current CD rates in West Virginia vary, offering a range of options for savers seeking competitive returns.

Rates mainly fluctuate depending on the financial institution and the deposit amount. These rates highlight the significance of comparing options across different banks to find the best fit for individual savings goals and investment strategies​

Best 6 Month CD Rates

For the best 6-month CD rates, savers are greeted with options that offer a quick return, ideal for those looking for short-term investments without long-term commitments.

1. Bask Bank

Minimum Amount: $1000.00

APY / Rate: 4.45% APY

Pros:

• 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: 4.39% 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: 3.50% 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

The 1-year CD rates cater to individuals seeking slightly longer horizons, balancing better yields with manageable access to their funds.

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.
• Premature withdrawal from the CD is subject to a penalty.

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. Ivy Bank

Minimum Amount: $1000

APY / Rate: 4.85% APY

Pros:

• FDIC insured bank up to maximum
• With a quick and easy application process,

Rules:

• Minimum opening deposit of $1,000.
• The Annual Percentage Yield (APY) is based on monthly compounding with funds held to maturity. $10 minimum daily balance required to earn APY.
• Additional deposits are not permitted. Substantial penalties for early withdrawal may be imposed.
• Ivy Bank and Cambridge Savings Bank are treated as the same entity for the purposes of calculating FDIC insurance limits.
• The national certificates of deposit average is calculated monthly by the Federal Deposit Insurance Corporation (FDIC).

Best 3 Year CD Rates

For those plotting a medium-term saving strategy, the 3-year CD rates present an attractive compromise between yield and time commitment.

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

5-year CD rates appeal to the long-term planners, offering the highest returns for those ready to commit their savings for an extended period, maximizing interest accumulation.

1. Freedom Credit Union

Minimum Amount: $500

APY / Rate: 4.85%

Pros:

• Free High-Yield Checking Accounts.
• Competitive Rates and Low Fees.
• Robust Online and Mobile Banking Options.
• 80,000+ No Fee ATMs.
• Skip-A-Pay Options on Your Loan
• Free Financial Seminars and Education
• Exclusive Discounts.
• Outstanding Customer Service that Only a Credit Union Can Offer.

Rules:

• $500 minimum requirement to open and a minimum balance requirement of $500 to earn the advertised annual percentage yield. A penalty will be imposed for early withdrawal. Effective fees may reduce dividends earned.
• 15 Month Special rate promotion subject to end without notice.
• There is a $5 minimum balance requirement to open the account and that minimum balance must be maintained to earn the advertised annual percentage yield.
• The dividend rate and annual percentage yield may change at any time, as determined by the Credit Union Board of Directors.

2. 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.

3. 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

West Virginia Economic Statistics

Investors in West Virginia face a unique economic landscape that requires a nuanced understanding of local statistics to navigate effectively.

The state’s population is approximately 1.77 million, with a median household income of $55,217 and a median home value of $145,800.

These figures are crucial for understanding the financial environment and potential investment returns, including CD rates​​​​.

On the other hand, the economic growth in West Virginia is expected to continue, and it keeps on emphasizing the importance of selecting financial products, like CDs. It aligns with both personal financial goals and the broader economic trajectory of the state.

Statistic	Value
Population	1,770,071
Median Household Income	$55,217
Median Home Value	$145,800

How to Get the Best CD Rates in West Virginia?

To secure the best CD (Certificate of Deposit) rates in West Virginia, it is essential to adopt a proactive and informed approach.

• Begin by conducting comprehensive research across a wide array of financial institutions, including both traditional banks and credit unions, as these entities often offer competitive rates to attract and retain depositors.
• Comparing rates online through financial comparison websites can also provide a broader view of the available options.
• It is important to consider not just the interest rate but also the term length, minimum deposit requirements, and early withdrawal penalties, as these factors can significantly affect the overall return on your investment.
• Additionally, building a relationship with your banking institution and negotiating terms may lead to better rates, especially for larger deposits or long-term customers.

Last but not the least, staying informed about the overall economic conditions and Federal Reserve policies is crucial since these factors influence interest rates on savings products, including CDs.

CD Rates Methodology

In determining the best CD rates in West Virginia, a methodology was applied that involved reviewing the CD rates from 90 banks across the state.

This comprehensive review aimed to cover a wide spectrum of banks, including large national banks, regional banks, and local credit unions, to ensure a broad representation of the available CD rates. From these 90 banks, 62 made the list for offering competitive CD rates.

The criteria for making the list included not only the competitiveness of the interest rates offered but also factors such as the terms of the CDs, the minimum deposit requirements, and the financial stability and customer service ratings of the institutions. This methodology ensures that the listed rates not only offer financial return but also come from reliable and customer-friendly banks.

Conclusion

Ultimately, the key to securing the best CD rates lies in being informed, exploring all options, and choosing a product that aligns with your financial objectives and risk tolerance.

Whether you are a new investor who is looking for a safe way to grow your funds or a more professional investor who is seeking to diversify your portfolio, CDs can be a beneficial component of your overall financial strategy in West Virginia.

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