---
title: Best Banks for CD Rates for 2027
description: Our picks for the 12 best banks offering leading CD rates for 2027, including Bread Savings, Bask Bank and Synchrony.
authors:
  - name: Mallika Mitra
    role: Contributing Editor
    url: https://money.com/author/mallika-mitra/
    bio: Mallika Mitra is a contributing editor for Money, based in Chicago. She has covered investing and retirement for seven years and her work has appeared in CNBC, Bloomberg, Kiplinger, AARP, Barron’s, Bankrate, The Daily Upside, ETF.com, The Bond Buyer, PLANADVISER, PLANSPONSOR and Investopedia.
    education: Craig Newmark Graduate School of Journalism at CUNY Kalamazoo College
    at_money_since: 2020
    articles: 398
    covers:
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      - Business
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    social:
      - https://twitter.com/mitra_mallika
      - https://www.linkedin.com/in/mallika-mitra-4577a386/
editors:
  - name: Jordan Chussler
    role: Editor, Investing and Banking
    url: https://money.com/author/jordan-chussler/
    bio: Jordan is an investment editor who specializes in topics ranging from traditional equities, retirement savings and income investing to alternative assets and commodities, specifically focusing on gold and other precious metals. He combines his personal interests and professional experience in finance and education to help readers increase their financial literacy and make better investment choices. Jordan is a Certified Personal Finance Counselor.
    education: Lynn University
    certifications: Certified Personal Finance Counselor
    at_money_since: 2023
    articles: 133
    covers:
      - Banking
      - Credit
      - Credit Cards
      - Economy and Politics
      - Housing
      - Identity Theft
      - Insurance
      - Investing
      - Loans
      - Mortgages
      - Personal Finance
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    also_seen_in:
      - Weiss Ratings
      - 24/7 Wall Street
      - Better Investing
      - Yahoo Finance
      - Nasdaq
      - Investing.com
      - Marketbeat
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    social:
      - https://www.linkedin.com/in/jordan-chussler-b3597811/
updaters:
  - name: Liliana Hall
    role: Reporter
    url: https://money.com/author/liliana-hall/
    bio: Liliana Hall joined Money in 2025. She is an Austin-based reporter for Money, where she covers a range of topics, including financial news, policy, banking, investing, passive income, financial planning and student loan debt.
    education: University of Texas at Austin
    at_money_since: 2025
    articles: 141
    covers:
      - Banking
      - Business
      - Career Advice
      - Credit
      - Credit Cards
      - Debt
      - Economy and Politics
      - Education
      - Health and Wellness
      - Housing
      - Insurance
      - Investing
      - Lifestyle
      - Loans
      - Mortgages
      - Personal Finance
      - Pets
      - Retirement
      - Shopping
      - Taxes
    social:
      - https://x.com/lilihallllllll
      - https://www.linkedin.com/in/liliana-hall/
published: '2026-10-14T14:32:26.000Z'
modified: '2026-10-14T18:00:56.000Z'
section: Banking
tags:
  - Best
  - Best Banks 2025–2026
word_count: 3513
canonical: https://money.com/best-cd-rates/
type: Article
source: structured-blocks
---

> **Disclosure:** We may earn a fee if you click on the links below. Compensation does not determine ranking. Not all brands are included. [Learn more](https://money.com/page/disclaimer/).

![Best Banks for CD Rates for 2027](https://img.money.com/2025/11/Best-Banks-2026-CDs-blue-mbci_est04__pxu54y.jpg?quality=85&w=1012&h=569&crop=1)

## Our Partners

![See Offer](https://s3.consumersadvocate.org/prd/image/image/40323/medium_d7cfad4d-110c-4c10-97f2-3dd8f2fbfc6b.webp)

Our Partner

[See Offer](https://money.com/go/59284e11ffb0?ap_referrer=%2Fbest-cd-rates%2F&bidid=4222797999&pmeta=p129-c636-u16308&ptid=683286358&ptoken=4cadacad5e313d36c6fec8674a330740&ua=Mozilla%2F5.0+AppleWebKit%2F537.36+%28KHTML%2C+like+Gecko%3B+compatible%3B+ClaudeBot%2F1.0%3B+%2Bclaudebot%40anthropic.com%29&zip=43215&apxa1=banking-trends-2026-2027)

-   **4.20% APY\* 3-Month CD**
    
-   New Customers can earn up to **$1000 with code STACK**
    
-   $1 minimum deposit. 24/7 online access.
-   FDIC Insured.

\* Rate as of 8/26/2026

* * *

![See Offer](https://s3.consumersadvocate.org/prd/image/image/30940/medium_e0ee0f2a-b328-4621-959e-7f13ab79ad23.webp)

Our Partner

[See Offer](https://money.com/go/2bbb529ec41a?ap_referrer=%2Fbest-cd-rates%2F&bidid=4222797996&pmeta=p129-c636-u16308&ptid=683286358&ptoken=9f8a76d1cb26c424cbc2e2fd459b084a&ua=Mozilla%2F5.0+AppleWebKit%2F537.36+%28KHTML%2C+like+Gecko%3B+compatible%3B+ClaudeBot%2F1.0%3B+%2Bclaudebot%40anthropic.com%29&zip=43215&apxa1=banking-trends-2026-2027)

-   **Earn 3.90% APY\* with CIT's No-Penalty CD**
-   Term: 11 months
-   Min. deposit required: $1,000

\* APY as of 7/1/2026

* * *

![See Offer](https://s3.consumersadvocate.org/prd/image/image/40411/medium_fd9f5381-fa41-465a-8a77-25b5dfc398a8.webp)

Our Partner

[See Offer](https://money.com/go/631dd7e9107c?ap_referrer=%2Fbest-cd-rates%2F&bidid=4222798005&pmeta=p129-c636-u16308&ptid=683286358&ptoken=6bc4a92cf282dc36a6ec5211166476b9&ua=Mozilla%2F5.0+AppleWebKit%2F537.36+%28KHTML%2C+like+Gecko%3B+compatible%3B+ClaudeBot%2F1.0%3B+%2Bclaudebot%40anthropic.com%29&zip=43215&apxa1=banking-trends-2026-2027)

**3-Month CD Earning 4.25% APY\***

-   Up to $1,000 for new customers with code **STACK**
-   $1 minimum deposit.
-   No platform or maintenance fees
-   FDIC insured through NexBank

\* Rate as of 9/25/2026

* * *

![See Offer](https://s3.consumersadvocate.org/prd/image/image/35195/medium_063089d6-bdf6-473d-81e7-628841b2b4ac.webp)

Our Partner

[See Offer](https://money.com/go/6acd78e34622?ap_referrer=%2Fbest-cd-rates%2F&bidid=4222798002&pmeta=p129-c636-u16308&ptid=683286358&ptoken=b1aa8ce5e7c43ff89282e19522f08014&ua=Mozilla%2F5.0+AppleWebKit%2F537.36+%28KHTML%2C+like+Gecko%3B+compatible%3B+ClaudeBot%2F1.0%3B+%2Bclaudebot%40anthropic.com%29&zip=43215&apxa1=banking-trends-2026-2027)

-   **Earn 4.35% - 4.40% on 9-Month and** **4.75%** **12-Month CD Products**
-   Manage your money anywhere with their mobile app
    
-   No minimum initial deposit4 & no monthly account fees
-   FDIC-Insured up to $250,0003 once certain conditions have been satisfied

## Best Banks for CD Rates Key Takeaways

- The best banks for CD rates include Bask Bank, Bread Savings, Happen Bank, Goldman Sachs and Newtek Bank, which stand out for consistently competitive yields, strong annual percentage yields (APYs) across multiple terms and low minimum deposit requirements
- CD rates fluctuate over time as banks and credit unions adjust their yields in response to Federal Reserve rate changes. However, once you open a CD, your rate is locked in for the full term, regardless of market shifts.
- The APY on a CD reflects the total interest earned over one year and is the standard figure used to compare CDs, while the interest rate is the percentage of interest you’d earn on the account before compounding.
- Online banks and credit unions often offer higher CD rates than traditional banks due to lower overhead costs, though credit unions typically require a membership to open an account.
- Methodology: We tested 60 online banks and credit unions, prioritizing competitive CD rates while also evaluating term offerings, minimum deposit requirements and early withdrawal penalties.

## Our top picks for the best CD rates for 2027

Listed alphabetically, these are the banks offering top CD rates right now:

-   **[Accordia Bank](#accordia)**
-   **[Bask Bank](#bask)**
-   **[Bread Savings](#Bread)**
-   [**BTG Pactual Bank**](#btg)
-   **[E\* Trade](#etrade)**
-   **[Happen Bank](#happen)**
-   **[Marcus by Goldman Sachs](#marcus)**
-   **[NASA Federal Credit Union](#nasa)**
-   **[Popular Direct](#popular)**
-   **[Quorum Federal Credit Union](#quorum)**
-   **[Synchrony](#synchrony)**
-   **[Tab Bank](#tab)**

*\*Rates and APYs are subject to change. All information provided here is accurate as of Oct. 2,* *2026*.

To better understand how we chose the best banks and credit unions for CD rates, read our full methodology [here](#methodology).

## Save More with a CD

### Start building your savings today with a Certificate of Deposit (CD).

[VIEW RATES](https://money.com/pr/kad7b6ffa769?ap_referrer=%2Fbest-cd-rates%2F&apxa1=banking-trends-2026-2027)

## Accordia

![](https://s3.consumersadvocate.org/prd/image/image/39944/large_414cb3f7-074b-4ae3-a978-a73b17f59835.webp)

[APPLY NOW](https://money.com/pr/i2f02388870a?ap_referrer=%2Fbest-cd-rates%2F&url=&apxa1=banking-trends-2026-2027)

**Pros**
- Competitive rates for a wide range of CD terms
- Range of CD terms between 6 months and 5 years

**Cons**
- No 3-month CDs
- No special CD types, such as bump-up CDs

### HIGHLIGHTS

APY

3.30% - 4.30%

Term

6, 18 mo.; 1, 2, 3, 5 yr.

Minimum deposit to open

$1,000

Grace period

10 days

[Accordia Bank](https://money.com/pr/if54a25cbe58?data-trk-company=accordia-bank-cds&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=if54a25cbe58&encoded_id=&apxa1=banking-trends-2026-2027) (formerly Limelight Bank) offers six CDs with terms of between six months and five years that have APYs of 3.3% to 4.3% — extremely attractive rates for savers. The Utah-based online bank offers a 10-day grace period after the maturity date to withdraw funds without penalty.

If you have to withdraw the money early, there's a penalty of 90 days of interest for the six-, 12- and 18-month CDs, and 180 days interest for the 36-month CD.

## Bask Bank

![](https://s3.consumersadvocate.org/prd/image/image/17846/large_b44c891e-3593-4aaa-bf1f-373d3dda598a.png)

[See Offer](https://money.com/pr/if9c53ba4ffd?ap_referrer=%2Fbest-cd-rates%2F&url=&apxa1=banking-trends-2026-2027)

**Pros**
- Among the top APYs for terms of one year or less

**Cons**
- No terms longer than two years

### HIGHLIGHTS

APY

3.90% - 4.35%

Term

3, 6, 9, 18 mo.; 1, 2 yr.

Minimum deposit to open

$1,000

Grace period

10 days

As an online-only bank, [Bask](https://money.com/pr/a3a13babae41?data-trk-company=bask-bank&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=a3a13babae41&encoded_id=&ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-cd-rates%252F&apxa1=banking-trends-2026-2027) is able to offer its customers attractive rates on savings products, including CDs. It offers some of the highest APYs on three-month CD and one-year CDs among the institutions on our list at 4.1% and 4.35%, respectively, as well as 4.3% on its two-year CD.

At maturity, Bask will automatically roll your funds over to a CD of the same term length with the current interest rate, unless you opt to redeem and close your account. The bank will remind you 30 days before the term ends. Once it does, you’ll have 10 days to add funds, make a partial withdrawal or close out the account without facing a penalty. If you need to withdraw early, the fee is 90 days' worth of interest for CDs with terms of one year or shorter, and 180 days of interest for those greater than one year.

If you’re looking for a longer-term CD, you may want to look elsewhere: Bask doesn't offer CDs with terms of longer than two years.

## Bread Savings

![](https://s3.consumersadvocate.org/prd/image/image/15950/large_f5c8298d-31aa-4a14-9f8f-1487afb694d0.png)

[See Offer](https://money.com/pr/qdcdd18e10a0?ap_referrer=%2Fbest-cd-rates%2F&apxa1=banking-trends-2026-2027)

**Pros**
- Top APY for 6-month CDs
- Competitive rates for other short-term CDs, especially 6-month CDs
- Wide range of CD terms

**Cons**
- Minimum deposit requirement of $1,500 is higher than most
- High early-withdrawal penalty for long-term CDs

### HIGHLIGHTS

APY

3.90% - 4.50%

Term

3, 6, 9, 18 mo.; 1, 2, 3, 4, 5 yr.

Minimum deposit to open

$1,500

Grace period

10 days

[Bread Savings](https://money.com/pr/t5c3efe39cf1?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-cd-rates%252F&apxa1=banking-trends-2026-2027) has become a go-to for high-yield savings accounts and CDs — and for good reason. The online-only bank offers an alluring 4.5% APY on its 18-month CDs, a 4.4% APY on its nine-month CDs and 4.25% APY on its one-year CDs. But the $1,500 minimum deposit requirement is higher than the $500 or $1,000 you’ll typically see.

As usual, there is an early-withdrawal penalty: 90 days of interest for terms shorter than one year, 180 days of interest for terms between one and three years, and 365 days of interest for terms of four years and more. CDs automatically renew unless you close the account or notify the company that you don’t want to renew. Bread Savings has the typical 10-day grace period.

## BTG Pactual Bank

![](https://s3.consumersadvocate.org/prd/image/image/40736/large_7a912b27-e552-4e09-b71e-43cfff2d0987.webp)

[APPLY NOW](https://money.com/pr/q99daaef01ef?ap_referrer=%2Fbest-cd-rates%2F&url=&apxa1=banking-trends-2026-2027)

**Pros**
- Competitive APYs across most CD terms
- Low minimum deposit requirement of $500 on standard terms

**Cons**
- $5,000 minimum for the no-penalty CD

### HIGHLIGHTS

APY

4.00% - 4.55%

Term

3, 6, 9, 18 mo.; 1, 2, 3, 4, 5 yr.

Minimum deposit to open

$500

Grace period

Undisclosed online

[BTG Pactual Bank](https://money.com/pr/nc9c43d1544b?data-trk-company=btg-cds&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=nc9c43d1544b&encoded_id=&apxa1=banking-trends-2026-2027) offers competitive APYs across most of its terms, ranging from three months to five years. It's one-year and 18-month CDs offer 4.45% APY, while its three-, four- and five-year CDs offer 4.55% APY. The minimum deposit is just $500, making these CDs relatively accessible.

BTG Pactual acquired M.Y. Safra Bank in January, giving the Brazil-based financial institution a U.S. banking license and expanding its U.S. banking offerings. It also offers a 13-month no-penalty CD, though that account requires a $5,000 minimum deposit while offering 3.5% APY. You can make up to two withdrawals from the no-penalty CD without an early withdrawal fee. After a third, the account will be closed.

## E\*TRADE

![](https://s3.consumersadvocate.org/prd/image/image/35195/large_063089d6-bdf6-473d-81e7-628841b2b4ac.webp)

[SEE OFFER](https://money.com/pr/o8c25e8d3e5d?ap_referrer=%2Fbest-cd-rates%2F&url=&apxa1=banking-trends-2026-2027)

**Pros**
- Range of CD terms between 6 months and 5 years
- Top APYs across all terms
- No minimum deposit requirement

**Cons**
- No specialty CDs
- High early withdrawal penalty for long-term CDs

### Highlights

APY

4.20% - 4.40%

Term

6, 9, 18 mo.: 1, 2, 3, 5 yr.

Minimum deposit to open

$0

Grace period

7 days

[E\*Trade](https://money.com/pr/jd678e039589?data-trk-company=etrade-bank-cds-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=jd678e039589&encoded_id=&apxa1=banking-trends-2026-2027) is an online brokerage and banking platform owned by Morgan Stanley that offers seven traditional CD term lengths, ranging from six months to five years. E\*Trade's CDs stand out for their competitive rates and a [10-day rate guarantee](https://us.etrade.com/bank/certificate-of-deposit). If you fund your CD within 10 days of opening the account, you'll receive the higher of the interest rate available when you opened the account or the rate available on your settlement date.

The bank currently offers 4.4% APY on all CD terms ranging from nine-months to five-years, except its six-month CD, which yields 4.2% APY. E\*Trade's CDs require no minimum deposit, which we like because it makes them accessible to a wider range of savers. However, as with most traditional CDs, you'll pay a penalty if you withdraw money before the CD reaches maturity. If approved, the penalty is based on the CD term and ranges from 45 days of simple interest for six-month CDs to 450 days of simple interest for five-year CDs. Customers can make a full withdrawal without penalty during the seven-day grace period after the CD matures.

## Happen Bank

![](https://s3.consumersadvocate.org/prd/image/image/39497/large_4a9e75f3-8a42-4775-9a5f-67d361286a43.webp)

[See Offer](https://money.com/pr/q9912a497453?ap_referrer=%2Fbest-cd-rates%2F&url=&apxa1=banking-trends-2026-2027)

**Pros**
- Competitive rates on short and long-term CDs
- Relatively low required minimum balance of $500

**Cons**
- Only six term options
- No special CD types, such as bump-up CDs

### HIGHLIGHTS

APY

3.40% - 4.40%

Term

6, 11, 14 mo.; 1, 2, 5 yr.

Minimum deposit to open

$500

Grace period

10 days

[Happen Bank](https://money.com/pr/b60437bb8307?data-trk-company=happen-bank-cds&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=b60437bb8307&encoded_id=&apxa1=banking-trends-2026-2027) (formerly LendingClub) offers a simple lineup of six CD terms ranging from six months to five years, with a low $500 minimum deposit and competitive yields. Its 11-month CD and 6-month CD both offer a 4.2% APY. Longer terms, including one-year, 14-month, two-year and five-year CDs, range from 3.4% to 4.4% APY.

If you have to withdraw money early, you may be subject to an early withdrawal penalty, including 90 days of simple interest for terms of one year or less and 180 days for terms longer than one year.

## Marcus by Goldman Sachs

![](https://s3.consumersadvocate.org/prd/image/image/7764/large_4ac38d51-ad2f-4fdf-8bc8-8cf32300c0fc.png)

[See Offer](https://money.com/pr/i30985de0af7?ap_referrer=%2Fbest-cd-rates%2F&apxa1=banking-trends-2026-2027)

**Pros**
- Offers no-penalty and rate-bump CDs
- Relatively low required minimum balance of $500

**Cons**
- Penalty of 270 days interest for CDs with terms of more than five years
- No 3-month CD

### HIGHLIGHTS

APY

3.90% - 4.40%

Term

6, 7, 9, 11, 13, 18, 20 mo.; 1, 2, 3, 4, 5, 6 yr.

Minimum deposit to open

$500

Grace period

10 days

[Marcus](https://money.com/pr/me7e049f6427?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-cd-rates%252F&apxa1=banking-trends-2026-2027) has become a go-to for high-yield savings accounts — but the online banking platform from Goldman Sachs also has a wide variety of CDs with attractive yields.

The bank offers APYs up to 4.4% on its CDs with term lengths ranging from six months to six years. The $500 minimum deposit requirement is lower than the more standard $1,000, making Marcus’ CDs even more accessible.

There’s an early-withdrawal fee of 90 days interest for CDs with terms a year or less, a fee of 180 days interest for those with terms of one to five years, and a fee of 270 days interest for those with terms of more than five years. When your CD matures, you will have 10 days to withdraw your balance without a penalty, renew your CD with the same term at the current APY or close your CD and open a new one with a different term.

## NASA Federal Credit Union

![](https://s3.consumersadvocate.org/prd/image/image/29323/large_2e01ee0a-b7d1-4472-b7cd-ca47246e393f.png)

[See Offer](https://money.com/pr/va44b45070cb?ap_referrer=%2Fbest-cd-rates%2F&url=&apxa1=banking-trends-2026-2027)

**Pros**
- Competitive rates for short-term CDs, especially 6-month CDs
- Wide range of CD terms, including bump-up CDs
- Special 1-year CD for young savers with $50 minimum requirement

**Cons**
- No 3-month CDs
- Need to be a member of the credit union

### HIGHLIGHTS

APY

4.25% - 4.55%

Term

6, 9, 15, 49 mo.; 1, 2, 3, 4,5 yr.

Minimum deposit to open

$1,000 (for most)

Grace period

10 days

If you're looking for options, [NASA Federal Credit Union](https://money.com/pr/bae584a8bc15?data-trk-company=nasa-federal-credit-union-cds-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=bae584a8bc15&encoded_id=&ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-cd-rates%252F&apxa1=banking-trends-2026-2027) is the place to go. The credit union has a wide range of terms, including those you may not see elsewhere like 15 and 49 months (though these come with a high $10,000 minimum deposit requirement). There are also bump-up CD options for two- and three-year CDs, and a one-year add-on CD with a minimum deposit requirement of $250 that allows you to deposit up to $2,500 more each month. For savers age 23 and below, the one-year "Early Savers" CD has a minimum deposit requirement of just $50.

Its highest rate at the moment is an attractive 4.55% APY on a 49-month CD. If you don't want to lock up your money for more than four years, the bank also offers competitive rates on shorter-term CDs, ranging from 4.3% APY on a six-month CD to 4.35% APY on a one-year CD.

The early-withdrawal penalties are 182 days of interest for terms of less than two years and 365 days of dividends for terms of two years or more. The grace period is 10 days, and CDs will be automatically renewed unless you opt out. You need to be a member of the credit union, which began as a banking institution for NASA employees, to open a CD. Today, though, non-astronauts can join if they first become members of the National Space Society (NSS), which will give you eligibility.

## Popular Direct

![](https://s3.consumersadvocate.org/prd/image/image/25576/large_b1b48e07-82d0-4890-b207-98cc3d3b6866.webp)

[See Offer](https://money.com/pr/s843fd376309?ap_referrer=%2Fbest-cd-rates%2F&url=&apxa1=banking-trends-2026-2027)

**Pros**
- Wide variety of terms, including for less than one year
- Top APY for 3-month CD and 1-year CDs

**Cons**
- Very high minimum balance requirement
- Higher early-withdrawal penalties for longer terms compared to other banks

### HIGHLIGHTS

APY

4.15% - 4.95%

Term

3, 6,18 mo.; 1, 2, 3, 4, 5 yr.

Minimum deposit to open

$10,000

Grace period

10 days

[Popular Direct](https://money.com/pr/k301ef5030cc?data-trk-company=popular-direct-cds-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=k301ef5030cc&encoded_id=&ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-cd-rates%252F&apxa1=banking-trends-2026-2027) offers competitive rates on eight different CDs ranging from three months to five years, making this a good pick if you plan to create a CD ladder. The bank offers a 4.25% APY on its six-month CD and a 4.4% APY on its one-year CD. However, its highest rates are reserved for longer-term CDs: the 36-, 48- and 60-month earn an attractive 4.8%, 4.85% and 4.95% APY, respectively. The online-only platform makes it easy to access your account via mobile or desktop any time of the day, and you can easily open an account online.

The bank will automatically renew your CD once it matures after a 10-day grace period, though it will send reminders that the maturity date is coming up so you can opt out of the renewal ahead of time (and you can do so even before Popular Direct starts sending you reminders).

The fee for early withdrawal is 89 days of interest for terms less than 91 days, 120 days of interest for terms between 91 and 364 days, 270 days of interest for terms of one to three years, 365 days of interest for terms three to five years and 730 days for terms of more than five years. Most of our other top picks only impose an early-withdrawal penalty of 180 days’ worth interest on their long CD terms. The biggest downside to Popular Bank's CD offerings, though, is that all terms have a very high required minimum balance of $10,000.

## Quorum Federal Credit Union

![](https://s3.consumersadvocate.org/prd/image/image/40738/large_043f63cb-a8cd-4da0-bf44-39099ce0d874.webp)

[APPLY NOW](https://money.com/pr/i7b29e122a43?ap_referrer=%2Fbest-cd-rates%2F&url=&apxa1=banking-trends-2026-2027)

**Pros**
- Top APYs for 6-and 12-month CDs
- Low minimum balance requirement of $100

**Cons**
- Low APY on 3-month CDs
- No specialty CDs

### HIGHLIGHTS

Term

3, 6, 18 mo.; 1, 2, 3, 4, 5 yr.

APY

1.75% - 4.50%

Minimum deposit to open

$100

Grace period

7 days

[Quorum Federal Credit Union](https://money.com/pr/sa73ebee5fc4?data-trk-company=quorum-federal-credit-union-cds&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=sa73ebee5fc4&encoded_id=&apxa1=banking-trends-2026-2027) offers competitive rates on several of its CD terms, with particularly attractive yields on six- and 12-month terms. The credit union currently offers 4.4% APY on its six-month CD and 4.5% APY on its 12-month CD, while its 48- and 60-month CDs both earn 4.15% APY. All of these CDs require $100 to open, which is lower than the $500 or $1,000 minimums common among some of our top picks.

Quorum is available nationwide and as with other credit unions, you'll need to become a member to open an account. Memberships are free and can be completed through the online application. Lastly, CDs automatically renew at maturity unless you choose otherwise during the seven-day grace period. If you withdraw funds before maturity, Quorum charges a penalty of 1% of the amount withdrawn for terms of two to 11 months, 2% for terms of 12 to 24 months and 3% for terms of 25 months or longer.

## Synchrony Bank

![](https://s3.consumersadvocate.org/prd/image/image/7847/large_04b6f464-5aa9-4e19-b9ca-ed294d6f6dcb.png)

[See Offer](https://money.com/pr/j0f7650c0900?ap_referrer=%2Fbest-cd-rates%2F&apxa1=banking-trends-2026-2027)

**Pros**
- Competitive rates for a wide range of CD terms
- No minimum deposit requirement

**Cons**
- Lower rates for 3-month and 11-month no penalty CDs
- High early withdrawal penalty for long-term CDs

### HIGHLIGHTS

APY

0.25% - 4.50%

Term

3, 6, 9, 11, 14 mo.; 1, 2, 3, 4, 5 yr.

Minimum deposit to open

$0

Grace period

10 days

[Synchrony Bank](https://money.com/pr/i24cfccef3f5?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-cd-rates%252F&apxa1=banking-trends-2026-2027) is an online-only bank that offers 14 different traditional CD term lengths, ranging from three months to five years. Aside from its short-term three-month CD (which yields just 0.25%), Synchrony's rates are pretty competitive — and we like that there's no minimum deposit required to open one.

The bank currently offers a 4.15% APY on its nine-month CD, 4.2% APY on its one-year CD and 4.5% APY on its five-year CD. Synchrony also has a few specialty CDs, including an 11-month no-penalty CD and a 24-month bump up CD, though both pay relatively low rates compared with the bank's standard offerings. Additionally, Synchrony offers traditional and Roth IRA CDs for those looking to save for retirement.

As with most CDs, you'll pay an early withdrawal penalty if you take money out before it reaches maturity. The fee for early withdrawal on terms of 12 months or less is equal to 90 days of interest; for terms over 12 months but under 48 months, it's 180 days of interest; and for terms of 48 months or more, the penalty increases to 365 days of interest. While the last tier is on the steeper side, it's still within the typical range for long-term CDs.

* * *

## Tab Bank

![](https://s3.consumersadvocate.org/prd/image/image/29321/large_0957c330-0b22-4316-9bb8-da404365c2d4.png)

[See Offer](https://money.com/pr/y2d3583c636d?ap_referrer=%2Fbest-cd-rates%2F&url=&apxa1=banking-trends-2026-2027)

**Pros**
- Range of CD terms between 6 months and 5 years
- Offer high-yield business CDs as well

**Cons**
- No terms less than a year
- Information on penalties and grace periods is not easily found on site

### HIGHLIGHTS

APY

4.05% - 4.20%

Term

18 mo.; 1, 2, 3, 4, 5 yr.

Minimum deposit to open

$1,000

Grace period

10 days

[Tab Bank](https://money.com/pr/k4d4333565db?data-trk-company=tab-bank-cds-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=k4d4333565db&encoded_id=&ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-cd-rates%252F&apxa1=banking-trends-2026-2027) offers competitive APYs on all of its CDs, with the highest being the 4.2% APY on a five-year CD. The bank also offers a 4.05% APY on its one-year CD, a 4.1% APY on its 18-month CD and a 4.2% on its 36- and 48-month CDs. If you're looking for a shorter-term CD, however, you won't find that at Tab. The bank doesn't offer any CDs with terms shorter than a year.

Like at other banks, you'll face an early-withdrawal penalty if you withdraw your money before the term ends and the CD matures. The penalty on the one-year CD is 90 days of interest, while it’s 180 days on the CDs with longer terms. Tab offers the typical 10-day grace period once your CD matures to withdraw your money, but you’ll have to notify the bank via email within that 10-day period if you don’t want your CD to renew automatically. You can receive interest payments via check, transfer or compounding.

## Other CDs we considered

We looked at an array of financial institutions to find the best CD rates. The following list includes some of the companies we reviewed that, while they didn’t make the final cut, we still consider noteworthy.

We assessed many CDs at major banks and credit unions that ultimately did not make our list. Below are several CDs that were not named here, but may have what you’re looking for.

**[First Internet Bank](https://money.com/pr/g4aa0036e904?data-trk-company=first-internet-bank-cds-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=g4aa0036e904&encoded_id=&apxa1=banking-trends-2026-2027)**

First Internet Bank offers CDs ranging from three months to five years, with no minimum deposit requirement. While the bank offers a wide selection of terms, including a three-month option that isn't commonly available, its APYs weren't high enough to earn a spot on our list.

**[Newtek Bank](https://money.com/pr/wb21eed1fff8?data-trk-company=newtek-bank-cds-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=wb21eed1fff8&encoded_id=&ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-cd-rates%252F&apxa1=banking-trends-2026-2027)**

Newtek Bank is an online-only bank offering CDs with terms from six months to five years. Its strongest rates are on the nine-month and one-year CDs, at 4% and 4.1%, respectively. However, rates drop to 2% APY for its four- and five-year CDs, and its $2,500 minimum deposit is higher than most of our top picks.

**[Live Oak](https://money.com/pr/za13903b6e77?ap_referrer=https%253A%252F%252Fmoney.com%252Fbest-cd-rates%252F&apxa1=banking-trends-2026-2027)**

Live Oak offers CDs with terms ranging from three months to five years, with its best rates on shorter-term CDs. Its one-year CD earns 4.3% APY, while its six- and nine-month CDs earn 4.1% and 4.2% APY, respectively. However, rates drop to 2% for terms longer than 18 months, and the $2,500 minimum deposit is higher than most of our picks.

## **What you need to know about CDs**

CDs can be a great place to park cash that you know you may not need for a certain period of time. For instance, if you’re planning to buy a house in three years, you can consider a three-year CD so that the money grows, but will be ready to withdraw once it’s time to make a downpayment.

CDs, like all savings and investing vehicles, come with their pros and cons.

### CD Pros

-   **Attractive rates****:** The APYs on CDs tend to be higher than those on even the most generous HYSAs.
-   **Low risk****:** Unlike investing in the stock market, CDs come with a guaranteed interest rate, no matter how interest rates move. At the end of the term, you’ll get your full deposit back.
-   **Federally-insured****:** These accounts are backed by the FDIC or NCUA as long as you open them with an insured bank or credit union.
-   **No fees****:** Unlike some savings accounts, CDs don’t tend to charge monthly fees.
-   **Easy to calculate your return****:** Because CDs have fixed rates, determining how much interest you’ll earn during the term is simple.

### CD Cons

-   **Lack of flexibility:** If you withdraw money from a CD early, you’ll face an early-withdrawal penalty, so make sure you can keep your money in them for the full term.
-   **Low investment return****:** Compared to stocks and bonds, CDs don’t earn as much (the highest currently offer APYs of just over 4%, which is much lower than the S&P 500’s average yearly return of roughly 10%).
-   **Fixed rate****:** While this will benefit you if interest rates fall during your term, you may miss out on better returns if they rise.
-   **Minimum deposit requirements****:** Some CDs have minimums of $1,000 or more.

### How do CDs work?

CDs are a savings vehicle in which you agree to lock up your money at a bank or credit union for a certain period of time — called the term — for a guaranteed, fixed rate of return.

Banks and credit unions offer a wide variety of terms, though most are between three months and five years, and not all banks offer the same terms. The CD may also have a required minimum deposit, like $500 or $1,000, you’ll have to agree to before you invest.

In most cases, interest accrues within the CD during the term, which contributes to your total return thanks to compounding. Some banks will have let you opt to get regular interest payments throughout the term, but this will reduce your total earnings at the end of the term.

When the term expires, you generally choose between rolling over the money into another CD or withdrawing the proceeds. If you pull your money out of a CD before the term is up, the bank will charge an early-withdrawal penalty (except in the case of no-penalty CDs), generally between 90 days and a year’s worth of interest.

### Types of CDs

Banks and credit unions offer different types of CDs. Here are some of the options you may come across:

-   **Traditional CD****:** These are most common, with fixed interest rates and early-withdrawal penalties.
-   **No-penalty CD****:** As the name implies, these CDs allow you to withdraw money before the term expires without facing a fee. However, they’re less common and often have lower interest rates.
-   **Bump-up CD****:** Also referred to as “raise-your-rate CDs,” these accounts typically allow you to ask for one rate increase during your term, so if interest rates jump, you won't miss out
-   **Jumbo CD****:** These CDs have higher minimum deposits than traditional CDs, often $50,000 or $100,000.
-   **IRA CD****:** These let you put pre-tax individual retirement account contributions into a CD.

### How to choose a CD

Putting your cash into a CD allows you to watch your money from on your terms. But it’s important to carefully decide which type of CD is right for you. Here’s how:

-   **Compare rates:** Comparison-shopping is important because CD rates vary widely. That’s where our list above should come in handy.
-   **Choose a type of CD:** Most banks and credit unions offer traditional CDs, but you may also be able to find no-penalty and bump-up CDs. If you’re specifically looking to save for retirement, look for a bank that offers IRA CDs.
-   **Pick the right term****:** Pick a term length based on your goals and how long you can have the money locked up for. It’s good if you can be flexible, since many banks offer special, higher-rate CDs with offbeat terms like seven or 11 months.
-   **Understand the terms:** Read through the terms of the CD to familiarize yourself with the early-withdrawal penalty, maturity date and grace period.
-   **Check the minimum deposit requirement:** Since many CDs come with a minimum deposit requirement, pick one that fits your budget.

### What is a CD ladder?

A CD ladder is a strategy that entails buying CDs with varying maturity dates so that you can take advantage of attractive interest rates while having access to money when you need it. Since longer-term CDs typically have higher rates than shorter-term CDs, a ladder lets you earn more interest and keep some access to your money.

For example, if you have $10,000, you could put $2,000 in a one-year CD, $2,000 in a two-year CD and so on. When each CD expires, you can either put the money into a new CD that ends after the last CD on your ladder, or take the cash.

## Best CD Rates FAQs

### Who has the highest CD rates right now?

Popular Direct currently offers the highest APY among Money’s picks, at 4.50% APY on its 36-, 48- and 60-month CD terms. Happen Bank follows with 4.40% APY on its two-year CD, while Bread Savings, E*Trade and Synchrony offer rates up to 4.35%. The highest APY available depends on the CD term, so compare rates for your preferred term before opening an account.

### Can you lose money on a CD?

You generally won’t lose your initial deposit with a CD from an FDIC-insured bank or an NCUA-insured credit union, as long as your deposits stay within insurance limits. However, an early withdrawal penalty can reduce your interest earnings and, in some cases, eat into your principal.

### What happens when a CD matures?

When a CD matures, you can withdraw your money without penalty, move it to another account or reinvest it in a new CD. Many banks give you a grace period, typically within 10 days, to make changes without an early withdrawal penalty. If you do nothing, your bank may automatically renew the CD at the current rate.

### How long should I put my money in a CD?

Choose a CD term that ends around the time you expect to need the money, since withdrawing early can trigger a penalty. Common CD terms range from a few months to several years, and the highest APY isn’t necessarily attached to the longest term.

### Are there fees associated with CDs?

Most CDs don’t charge monthly maintenance fees, but you may pay an early withdrawal penalty if you take out your money before the CD matures. The penalty varies by bank or credit union (and term), but it is often based on a certain number of days or months of interest. Some banks also offer no-penalty CDs, which let you withdraw funds early without facing a fee.

### Are CDs taxable?

Yes, the interest that you earn on a CD is considered taxable income by the IRS. The issuer of the CD will typically send you a Form 1099-INT with the details (assuming the interest was more than $10).

## **How we chose the best CD rates**

To find the best CD rates, we collected data on the various term lengths and rates from roughly 60 of large banks and credit unions. We focused on some of the most common term lengths: three-month, six-month, 12-month, one-year, two-year, three-year and five-year terms. Since many of the financial institutions have similarly attractive interest rates, we zeroed in on the one-year term when necessary, since that was a term offered by nearly all the banks and credit unions we assessed.

While we prioritized CD rates, we also considered the amount of terms companies offered, minimum balance requirements and early-withdrawal penalties. We eliminated some accounts offered by banks or credit unions that served niche communities, like those who live in one particular state.

AI was not used in the sourcing of Best Banks' data, the analysis of that data or the content subsequently produced by Money's editorial team. You can [read our full methodology here](https://money.com/best-banks/methodology/).

## **Latest CD rate news**

At its Sept. 16 meeting, the Federal Reserve raised its benchmark federal funds rate by 25 basis points to a range of 3.75% to 4%. It was the Fed's first rate hike since [July 2023](https://www.cnbc.com/2026/09/16/fed-rate-decision-september-2026.html), reversing course after holding rates steady for most of 2026.

The increase could put upward pressure on CD rates, since banks and credit unions often adjust the rates they pay on deposits when the Fed changes its benchmark. Short-term rates, such as those on CDs or credit cards, tend to respond more quickly, while longer-term borrowing costs — including mortgages or auto loans — often move more slowly.

As of press time, the best CD rates currently reach the mid-4% range, with a few outliers offering as much as 4.95% APY. The outlook for interest rates remains uncertain, particularly as the Fed weighs persistent inflation against other economic conditions. For those shopping for CDs, that means it's worth comparing current rates across banks and credit unions rather than assuming yields will move in lockstep with the Fed in the coming months.

## Grow Your Money with a CD

### Put your savings to work and enjoy the potential to earn more with a Certificate of Deposit (CD).

[See Offer](https://money.com/pr/a49b018a2227?ap_referrer=%2Fbest-cd-rates%2F&apxa1=banking-trends-2026-2027)

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          "sameAs": [
            "https://en.wikipedia.org/wiki/Bank"
          ]
        },
        {
          "@type": "Thing",
          "name": "Certificate of deposit",
          "sameAs": [
            "https://en.wikipedia.org/wiki/Certificate_of_deposit"
          ]
        }
      ]
    }
  ]
}
```