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Capital One Bank Branch in New York City
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Looking for a low-risk way to grow the funds you save? Opening a certificate of deposit, or CD, is one way to make your money earn money for you.

CDs are financial products that hold your deposits for a set period of time, generally ranging from one month to five years. In exchange, the bank you choose to open your account with pays you a fixed amount of interest. Typically, this means your savings will earn more than if they were just sitting in a basic savings account.

The national average annual percentage yield (APY) rate for CD accounts is 1.21%, according to the Federal Deposit Insurance Corporation. But the best CDs usually offer much higher than that, and rates right now are trending up thanks to a ripple effect from the recent rate hikes by the Federal Reserve.

In fact, there are a few banks offering CDs with APY rates hovering around 5%. That outpaces the APYs on high-yield savings accounts from places like Ally (3.4%) and Marcus (3.75%).

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Save and grow your money without incurring risk - open a CD Account.
If you want your money to work a little harder but aren't sure about investing in stocks or bonds, look into a Certificate of Deposit (CD). Click on your state to open a CD account today!
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Open a CD Account

Banks with high CD rates

Capital One, 5% APY

  • Duration: 11 months
  • Minimum deposit: none

BMO Harris, 5% APY

  • Duration: 12 months
  • Minimum deposit: $1,000

Popular Direct, 4.8% APY

  • Duration: 12 months
  • Minimum deposit: $10,000

Synchrony Bank, 4.6% APY

  • Duration: 14 months
  • Minimum deposit: none

Barclays, 4.35% APY

  • Duration: 24 months
  • Minimum deposit: none
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Opening a Certificate of Deposit (CD) account can be a safe way to grow your savings
A CD account is a great financial tool to build your savings for a short-term goal. Click below to open a CD account.
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