---
title: The Best One-Year CD
description: Synchrony's Certificate of Deposit, the best one-year CD, has a best-in-class interest rate while requiring a modest deposit. Learn more.
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published: '2016-10-25T16:27:22.000Z'
modified: '2024-05-08T04:12:02.000Z'
section: Banking
canonical: https://money.com/collection-post/best-one-year-cd/
type: Article
source: structured-blocks
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> **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/).

![161019_bb_standalone_yr_cd](https://img.money.com/2016/10/161019_bb_standalone_yr_cd.png)

While 83% of the traditional banks we analyzed offer lower fees, higher rates, or other perks if you have money in multiple accounts, you may also profit by moving some cash elsewhere—particularly if you’re already above the minimum balance or your bank doesn’t offer such benefits. —*[Megan Leonhardt](https://money.com/author/Megan-Leonhardt) and [Alicia Adamczyk](https://money.com/author/Alicia-Adamczyk)*

Synchrony Certificate of Deposit

**WHY IT WINS:** [Synchrony’s](https://www.synchronybank.com/banking/products/cd/?UISCode=0000000) 1.25% interest rate is best in class while requiring a modest $2,000 deposit.

**CAVEAT:** Synchrony edged past some close contenders. Sallie Mae Bank, for instance, pays 1.24% on one-year CDs, and Goldman Sachs pays 1.19%.

**ACCOUNT TERMS:**  
• Minimum to open: $2,000  
• Interest: 1.25%  
• Early withdrawal penalty: It's the industry standard—90 days of simple interest on the amount drawn.

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