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The Best Certificate of Deposit (CD) Rates
No risk, just rewards – open a Certificate of Deposit for guaranteed growth.
Last Updated: June 2025
Our editors created this list of CD offers from our partners to help make your search easier. Compare current rates and various term lengths so that you can make an informed decision and grow your savings!
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National CD Rate Average (5 yrs.): Nat’l Rate Avg. (5 yrs.)
1.43
%
  

Looking for a safe, steady way to grow your savings? A Certificate of Deposit (CD) is a savings account that locks in your money for a set term, usually a few months to several years in exchange for a guaranteed interest rate. To make your search easier, our editors selected top CD offers from trusted partners. Compare rates and terms below to find the right fit for you!

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Advertiser Disclosure
ADVERTISER DISCLOSURE
Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all account options available. *APY (Annual Percentage Yield).Rates / Annual Percentage Yield terms are current as of the date indicated. Rates are subject to change without notice and may not be the same at all branches. These quotes are from banks, credit unions and thrifts, some of which have paid for a link to their website. Bank, thrift and credit unions are member FDIC or NCUA. Contact the financial institution for the terms and conditions that may apply to you.
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Need to Know Terms

Annual Percentage Yield (APY)

This is the total interest you’ll earn on your money in one year, including compound interest. A higher APY means more growth for your savings!

Term Length

This is how long your money stays in the account (for CDs). It can range from a few months to several years. The longer the term, the higher the rate—usually. Note: HYSAs don’t have term lengths, so you can access your money anytime.

Minimum Deposit

This is the least amount of money you need to open the account. Some accounts require just $1, while others may need $500 or more.

Key Benefits

Guaranteed Returns

CDs offer fixed interest rates, so you’ll know exactly how much your money will grow over time with no surprises.

No Market Risk

Unlike stocks or mutual funds, CDs are a safe, low-risk way to save. Your principal is protected and often FDIC-insured unlike other types of investments.

Encourages Saving Discipline

Since your money is locked in for a set term, you’re less tempted to dip into it, which makes it much easier to build savings over time.

Just a Few More Things

Early Withdrawal Penalties

If you take your money out before the term ends, you’ll likely pay a penalty. Make sure you won’t need those funds right away and do your research on penalties.

Fixed Rate

The interest rate doesn’t change once you open the CD, so it’s locked in. This predicability is great because it lets you know exactly how much you’ll earn by the end of the term.

FDIC Insured

Most CDs are insured by the FDIC (up to $250,000 per bank), so your money is actually protected.

Automatic Renewal

Some CDs automatically renew at the end of the term. Either set a reminder so you can decide whether to withdraw, renew, or shop around for a better rate.

Didn’t find what you’re looking for?
There are other account types that may be a better fit for your financial goals
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Get similar returns as CD accounts with an Annuity

An Annuity is an ideal product type for those looking for a stable, long-term plan – particularly for retirement. Keep in mind they come with fees and reduced liquidity, but they can offer guaranteed income with tax-deferred growth and a variety of options like fixed, indexed, or deferred. Who doesn’t want a steady stream of income? Typically, Annuities are most ideal for those 55 and older.

SEE ALL ANNUITY OFFERS
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A Cash Management Account could also be a good choice​

A Cash Management Account is the solution for individuals looking for an efficient way to manage all their finances in one place. CMAs combine checking, savings and investing into one product. You also get the convenience of banking services like ATM access and check-writing capabilities.

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FAQ’S

What Is a High-Yield Certificate of Deposit (CD)?
A High-Yield Certificate of Deposit (CD) is a type of savings product that offers a much higher fixed interest rate than the national average rate for regular savings accounts or CD terms. These higher rates are offered mainly at online banks and credit unions. In exchange for this higher rate, you agree to keep your money in the account for a specified term, which can range from a few months to several years. The interest rate is typically locked in when you open the account, providing a predictable return on your investment.
How Do Online High-Yield CDs Work?
Online High-Yield CDs operate much like traditional CDs but are managed entirely online. You deposit a lump sum of money into the CD, and it earns interest at a fixed rate over the specified term. Once the term ends (known as the maturity date), you can withdraw your initial deposit plus the interest earned. However, withdrawing funds before the maturity date typically incurs a penalty, which can reduce or even eliminate your earned interest.
Are Online High-Yield CDs Safe?
Yes, online High-Yield CDs are safe, provided they are offered by FDIC-insured banks or NCUA-insured credit unions. Your deposits in these institutions are insured up to $250,000 per depositor, per institution. This insurance protects your money in the unlikely event that the bank or credit union fails. Always ensure that the financial institution offering the CD is FDIC or NCUA insured.
What Are the Advantages of an Online High-Yield CD?
  • Higher Interest Rates: Online High-Yield CDs typically offer better interest rates than regular savings accounts or CDs.
  • Predictable Returns: The fixed interest rate ensures that you know exactly how much your money will grow by the end of the term.
  • FDIC/NCUA Insurance: Your investment is protected up to $250,000, providing security and peace of mind.
  • Low Risk: CDs are considered a very low-risk investment, especially compared to stocks or bonds.
What Are the Disadvantages of an Online High-Yield CD?
  • Limited Liquidity: Your funds are locked in for the term of the CD, and early withdrawal can result in significant penalties.
  • Fixed Interest Rate: If interest rates rise during your CD’s term, you won’t benefit from the higher rates until the CD matures.
  • No Monthly Contributions: Unlike a savings account, you cannot add money to a CD after it’s been opened.
How Do I Open an Online High-Yield CD?
Opening an online High-Yield CD is a simple process. Start by comparing CDs from different online banks to find one with a competitive interest rate, favorable terms, and an appropriate maturity period for your financial goals. Once you’ve chosen a CD, you’ll need to provide personal information, such as your name, address, Social Security number, and a valid form of ID. You’ll also need to fund the CD, typically via an electronic transfer from an existing bank account.
Can I Lose Money in a High-Yield CD?
High-Yield CDs are considered a very low-risk investment. As long as your CD is with an FDIC or NCUA-insured institution, your deposits up to $250,000 are protected. However, withdrawing funds before the maturity date can result in penalties that reduce your earned interest. Additionally, if inflation rates rise significantly, the real value of your interest earnings may decrease.
What Happens When a High-Yield CD Matures?
When a High-Yield CD matures, you have several options. You can withdraw your initial deposit along with the interest earned, renew the CD at the current interest rate, or roll the funds into a new CD with different terms. If you do nothing, many banks will automatically renew the CD for the same term at the current interest rate, so it’s important to review your options as the maturity date approaches.
What Are the Penalties for Early Withdrawal?
The penalty for early withdrawal from a High-Yield CD varies by bank but typically involves forfeiting a portion of the interest earned. Some banks may charge a flat fee, while others may require you to give up several months’ worth of interest. It’s crucial to understand the early withdrawal penalty before opening a CD, especially if there’s a chance you might need access to the funds before the term ends.
Are There Minimum Deposit Requirements for High-Yield CDs?
Yes, most High-Yield CDs have a minimum deposit requirement, which can range from a few hundred to several thousand dollars. The exact amount varies by bank and CD term. Generally, the longer the term and the higher the interest rate, the larger the minimum deposit. Be sure to check the specific requirements of the CD you’re interested in before opening an account.