Summary List Placement
This post was most recently reviewed and updated on February 22, 2021.
The best CD rates for February 2021
Best rates for a 1-year term
CD account
APY
Minimum deposit
Marcus High-Yield CD
0.55%
$500
Ally High Yield CD
0.60%
$0
Discover CD
0.50%
$2,500
Synchrony Bank CD
0.55%
$2,000
Best rates for a 2-year term
CD account
APY
Minimum deposit
Marcus High-Yield CD
0.55%
$500
Ally Raise Your Rate CD
0.60%
$0
Discover CD
0.50%
$2,500
Synchrony Bank CD
0.60%
$2,000
Best rates for a 3-year term
CD account
APY
Minimum deposit
Discover CD
0.55%
$2,500
Synchrony Bank CD
0.65%
$2,000
Ally High Yield CD
0.65%
$0
TIAA Basic CD
0.70%
$1,000
Marcus High-Yield CD
0.55%
$500
Best rates for a 4-year term
CD account
APY
Minimum deposit
TIAA Basic CD
0.75%
$1,000
Discover CD
0.55%
$2,500
Synchrony Bank CD
0.65%
$2,000
Ally Raise Your Rate CD
0.60%
$0
Marcus High-Yield CD
0.55%
$500
Best rates for a 5-year term
CD account
APY
Minimum deposit
Ally High Yield CD
0.85%
$0
Synchrony Bank CD
0.80%
$2,000
Discover CD
0.60%
$2,500
TIAA Basic CD
0.80%
$1,000
Marcus High-Yield CD
0.60%
$500
Best rates for a no-penalty CD
CD account
APY
Minimum deposit
Ally No Penalty CD
0.50%
$0
Marcus by Goldman Sachs No-Penalty CD
0.25% to 0.45%
$500
CIT Bank No-Penalty CD
0.30%
$1,000
America First Flexible Certificate
0.30%
$500
Best rates for no opening deposit
CD account
APY
Minimum deposit
Ally High Yield CD
0.20% to 0.85%
$0
Capital One 360 CD
0.20% to 0.40%
$0
American Express Certificates of Deposit (CDs)
0.10% to 0.55%
$0
Barclays Online CD
0.10% to 0.25%
$0
CD rates at the largest US banks
Bank
APY
Next steps
Citibank
0.05% to 0.15%
Citibank Citibank Fixed Rate Certificates of Deposit (CDs)
Capital One
0.20% to 0.40%
Capital One Capital One 360 CDs®
PNC Bank
0.01% to 0.10%
PNC Bank PNC Fixed Rate Certificate of Deposit
TD Bank
0.05% to 0.10%
TD Bank TD Bank Choice Promotional Certificate of Deposit
Bank of America
0.03% to 0.05%
Bank of America Bank of America Standard Term Certificate of Deposit
Chase Bank
0.01% to 0.05%
Chase Chase Certificate of Deposit (CD)
US Bank
0.05% to 0.25%
US Bank US Bank Certificate of Deposit
Charles Schwab Bank
0.02% to 0.15%
Charles Schwab Bank Charles Schwab Bank Certificate of Deposit
Wells Fargo
0.01% to 0.05%
Wells Fargo Bank Wells Fargo Step Rate Certificate of Deposit
BB&T Bank
0.01% to 0.04%
BB&T Bank BB&T Personal Certificate of Deposit
If you want to grow your money but keep it safe from the turbulence of the stock market, a certificate of deposit (CD) may be a good option.
Generally, a CD should be fee-free and as easy to open as any checking or savings account. Since you’re locking in an interest rate, it’s smart to look for the highest one. But it’s also important to consider minimum deposit requirements and penalties for early withdrawals in case you need the money in a pinch.
Below you’ll find our picks for the best CD rates right now. There’s no CD that will work for everyone, but we combed through offerings at around a dozen national banks as well as popular comparison sites, like Bankrate and NerdWallet, to find the strongest options available right now.
Table of Contents: Masthead StickyOur expert panel for this guide
We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best CDs for your needs. You can read their insights at the bottom of this post.
We’re focusing on what will make a CD most useful, including high APY, low costs, term lengths, and more.
Keep reading to learn more about our top picks
Marcus High-Yield CD
Why it stands out: Marcus by Goldman Sachs offers a variety of CDs, including High-Yield CDs and No-Penalty CDs. The bank pays some of the highest rates in the industry, and its mandatory $500 minimum deposit is lower than most …read more
Source:: Business Insider
