11 Best CD Rates 2018

Certificates of deposit (CDs) are important savings tools that you can use to grow your savings by earning a prearranged interest rate over a set period of time. We’ve compared dozens of CD rates from banks and credit unions all around the United States to create a list of the best CD rates currently available.

Best CD Rates 2018

Updated August 2018

What CD Rates Are

Certificate of deposit rates are rates of interest that consumers earn on investments that they buy from a bank or credit union. Financial institutions change CD interest rates frequently, but they’re typically higher than traditional saving or money market interest rates because investors don’t have access to their money for the term of the CD.

CD rates are based primarily on the duration of the CD — the term — and prevailing interest rates in the market. Although CD rates can be loosely based on an underlying interest rate, CD rates vary by institution based mostly on how many CDs a bank wants to sell. For example, one month a bank may set a CD rate at prime rate — currently 5 percent — minus 3 percent. In the next month, they may want to sell fewer CDs and lower their interest rates to prime minus 3.5 percent.

In addition to CDs that investors can buy from banks, credit unions offer “share certificates,” which are essentially the same product. Share certificates from credit unions are often referred to as CDs, and both CD and share certificate interest rates are usually comparable.

CDs are ideal for consumers who want to start earning higher interest on their savings and are willing to lock up their money for a preset period of time. You should typically have at least a few hundred to a few thousand dollars before investing in CDs and want to earn interest without the volatility of riskier investments.

CD Payout Example

Certificate of deposit rates are typically higher than other savings products. In many cases, CD rates are even higher than high-yield savings rates. However, CDs don’t typically pay interest on a schedule — interest accrues in the account and is released when the CD matures.

Consider the following example of $10,000 invested in a 5-year CD at 3.25%:

CD Investment Example

In addition to delayed interest payments, most banks also charge early withdrawal penalties for accessing your money early. Depending on the amount you withdraw, these penalties can greatly reduce or even eliminate any profit you make in a CD.

“Once a hallmark of traditional savings, certificates of deposit fell out of favor with many savers over the past decade as they were not offering enough interest to justify the penalty for early withdrawals. However, as with other savings vehicles, some are now paying relatively high interest in exchange for your ‘time-deposit.’ The longer you can park your cash without the need to access it, the higher the offered interest rate.”

— Drew Kellerman, Founder, Phase 2 Wealth Advisors

How We Evaluated the Best CD Rates

Many financial institutions offer Federal Deposit Insurance Corporation (FDIC)-insured CDs, but terms and interest rates vary widely. Longer-term CD rates are usually higher than short-term CDs or other types of savings because investors lock up funds for longer. We researched dozens of providers to identify the best CD rates for the most common terms of one month and 10 years.

To evaluate the best CD rates we considered the following factors:

• Certificate of deposit rates: The interest rates paid on CDs and share certificates
• Minimum deposit: How much you have to deposit to purchase a CD
• CD term: How long a CD lasts before you can access your money
• Eligibility restrictions: Whether you have to live in certain states or qualify for credit union membership to purchase a particular CD or share certificate
• Fees: Costs for customers to withdraw money early or transfer money into CDs
• Online vs. branch only: How quickly and easily you can purchase a CD online

Your best CD rate will depend largely on how long you’re willing to have your money tied up. For example, the best rate for a 10-year CD term is currently Apple Federal Credit Union. Apple is a credit union in Northern Virginia offering a 10-year CD that pays annual interest of 3.15 percent. If you’re thinking of buying a long-term CD and want the biggest bang for your buck, consider Apple Federal Credit Union.

Apple Federal Credit Union: Best 10-year CD Rate

Apple Federal Credit Union has the best 10-year CD interest rate because they pay 3.15 percent, which is the highest rate available on a 10-year CD. Apple Federal customers also get access to about two dozen physical branches, more than 53,000 ATMs nationwide and online and mobile banking. The credit union offers a number of different share certificates in addition to checking, savings and money market accounts.

Apple Federal Credit Union CD Rates

Apple Federal Credit Union currently offers the following CD rates:

• 10-year CD: 3.15% APY
• 7-year CD: 3.10%
• 5-year CD: 3.00%
• 4-year CD: 2.50%
• 3-year CD: 2.30%
• 2-year CD: 2.00%
• 15-month CD: 1.75%
• 12-month CD: 1.75%
• 6-month CD: 1.30%

Apple Federal Credit Union has some of the best CD rates available for eligible credit union members. Its 10-year CD rate is the best overall CD rate we found. In addition to its normal CDs, Apple Federal also offers 1-, 3- and 5- year Jumbo Certificates that pay 0.05 percent higher interest but have higher minimum deposit requirements.

Apple Federal Credit Union Minimum Deposit Requirements

Apple Federal Credit Union CDs have the minimum deposits including:

• Apple Federal Credit Union share certificates: $500
• Jumbo certificates: $50,000

Apple Federal Credit Union Fees

Apple Federal Credit Union charges the following fees for CDs:

• Early withdrawal fee: Dividends earned up to 90 to 1,065 days of dividends based on CD term
• Incoming wire transfer fee: None
• Paper statement fee: $2 per statement

Apple Federal charges CD holders early withdrawal fees that vary according to their CD term. If the term is 6 months or less, early withdrawals fees are either dividends paid since they bought the CD or 90 days of dividends, whichever is less. If the CD term is over 6 to 60 months, early withdrawal fees equal the lesser of dividends earned since issuance or 180 days dividends. If the term is longer than 5 years, early withdrawal fees equal dividends earned since issuance or 3 years’ of dividends, whichever is less. Early withdrawal fees are waived if the CD owner dies or if the certificate is redeemed within 10 days of renewal.

Apple Federal Credit Union Eligibility Restrictions

Apple Federal Credit Union eligibility restrictions include:

• Residents: Anyone who lives, works, volunteers, is a student or attends church in the cities of Fairfax, Manassas or Manassas Park or the counties of Fairfax, Frederick or Prince William
• Employees: Faculty at George Mason University, Shenandoah University, Northern Virginia Community College or select businesses in the region
• Members: Supporters of certain organizations including the Northern Virginia Athletic Directors, Administrators and Coaches Association (NVADACA)
• Family: Immediate family or people living with current members

What Apple Federal Credit Union Is Missing

Apple Federal Credit Union offers some of the highest CD rates available for long-term CDs. However, while you can buy Apple Federal CDs online, they have no branches outside Northern Virginia, and you have to qualify for membership with the credit union in order to purchase a CD. Apple also imposes penalties for early withdrawals with some exceptions.

Apple Federal Credit Union Customer Reviews

Apple Federal Credit Union has mixed customer reviews online. Reviews are generally positive, but there have been some complaints related to in-branch transactions and customer service. Online customers tend to like the good interest rates including CD interest rates. There are a few dated complaints about online functionality with Apple’s website, but these appear to have been resolved with system updates.

How to Apply with Apple Federal Credit Union

Apple Federal Credit Union only has a dozen branches but makes it easy for qualifying credit union members to purchase CDs online. To purchase one of Apple’s CDs, start by visiting its website to see whether you’re eligible to join the credit union. If you qualify for membership, you can join Apple in just 15 minutes by completing an online application and fund your account.

Visit Apple Federal Credit Union

Air Force Federal Credit Union: Best 7-year CD Rate

Air Force Federal Credit Union is a credit union that pays the highest 7-year certificate of deposit interest rate of 3.20 percent. AFFCU is a well-established credit union that serves active and retired military service members and contractors along with their families as well as members and employees at several churches, businesses and nonprofits in the greater San Antonio area.

Air Force Federal Credit Union CD Rates

Air Force Federal Credit Union offers the following certificate of deposit rates:

• 7-year CD rate: 3.20% APY
• 5-year CD rate: 2.90%
• 3-year CD rate: 2.60%
• 2-year CD rate: 2.55%
• 1-year CD rate: 2.30%
• 6-month CD rate: 1.30%

AFFCU offers CDs ranging from 6-month to 7-year terms. Its 7-year CD is among the best CD rates we found.

Air Force Federal Credit Union Minimum Deposit Requirements

Air Force Federal Credit Union has the following minimum deposit requirements:

• 7-year CDs: $2,500
• 5-year CDs: $2,500
• All other CDS: $1,000

Air Force Federal Credit Union Fees

Air Force Federal Credit Union fees for CDs include:

• Early withdrawal fee: Half of the dividends that are left would be paid on the withdrawn amount
• Incoming wire transfer fee: $5
• Paper statement fee: $3 per statement

AFFCU’s disclosures indicate that they may impose penalties for funds withdrawn before the maturity date. The penalty will be half the dividends that would be paid on the withdrawn amount between the date of the withdrawal and the maturity date.

Air Force Federal Credit Union Eligibility Restrictions

Air Force Federal Credit Union eligibility restrictions are:

• Service members: Military personnel, reservists and contractors enlisted or stationed in Texas, Oklahoma, Arkansas, Louisiana or Mississippi
• Employees: Nonmilitary employees at a military facility in Texas, Oklahoma, Arkansas, Louisiana or Mississippi as well as employees at certain businesses in Texas
• Students: Cadets at US military academies and members of ROTC programs
• Retirees: Anyone currently retired who would’ve previously qualified for membership
• Family: Immediate family of anyone who qualifies for membership
• Churches: Members at certain Texas churches

What Air Force Federal Credit Union Is Missing

Air Force Federal Credit Union offers the best 7-year CD interest rates available and competitive rates for a number of other CDs. However, to purchase a CD from AFFCU, you must be eligible for credit union membership, which is limited to current and former military service members, contractors, their families, employees at certain business and members in certain churches. While you can buy Air Force Credit Union products online, it only has branches in Texas.

Air Force Federal Credit Union Customer Reviews

Air Force Federal Credit Union has mixed customer reviews. There have been some complaints about loan products and many complaints about poor customer service resolving account issues. Many CD customers are able to avoid these customer issues by handling their banking needs online, but you may not get customer service if you need assistance.

How to Apply with Air Force Federal Credit Union

To buy a CD from Air Force Federal Credit Union, you must be eligible for membership with the credit union. However, if you qualify for membership, you can apply for an account with AFFCU online in about 15 to 20 minutes. Once you’re approved, you can open and fund your account online and start earning some of the top CD rates available.

Visit Air Force Federal Credit Union

M.Y. Safra Bank: Another Great 7-year CD Rate Option

M.Y. Safra Bank is a private, Manhattan-based bank that pays 3.20 percent on 7-year CDs, which is the best currently available. The bank also offers competitive CD rates from 1-month to 7-year terms plus deposit accounts, lending, currency conversions and a variety of other financial services. M.Y. Safra is owned and operated by the Safra international banking family and considered very stable.

M.Y. Safra Bank CD Rates

M.Y. Safra Bank offers the following CD interest rates:

• 7-year CD rate: 3.20% APY
• 5-year CD rate: 2.65%
• 4-year CD rate: 2.35%
• 3-year CD rate: 2.30%
• 2-year CD rate: 2.10%
• 18-month CD rate: 1.60%
• 12-month CD rate: 1.70%
• 9-month CD rate: 1.30%
• 6-month CD rate: 1.20%
• 3-month CD rate: 1.10%
• 1-month CD rate: 0.75%

M.Y. Safra Bank offers competitive 7-year certificate of deposit rates for customers who don’t qualify for membership at Air Force Federal Credit Union.

M.Y. Safra Bank Minimum Deposit Requirements

M.Y. Safra Bank CDs have the minimum deposits including:

• CDs: $5,000
• Jumbo CDs: $100,000 (earn 0.05 percent more for 90-day CDs and higher)

M.Y. Safra Fees

M.Y. Safra charges fees for CDs including:

• Early withdrawal fee: Credit interest or 90 days interest, whichever is greater
• Incoming wire transfer fee: None
• Paper statement fee: $5 per statement

M.Y. Safra Eligibility Restrictions

M.Y. Safra is a bank and has no eligibility restrictions.

What M.Y. Safra Bank Is Missing

M.Y. Safra Bank is a great private bank that offers very competitive CD rates. However, the bank is very small and has just one office in New York City. Its offerings are very strong, but there are virtually no physical branches or ATMs.

M.Y. Safra Bank Customer Reviews

M.Y. Safra Bank is a private institution that serves mostly wealth individual and families. Because it’s smaller and relatively discrete, there aren’t many M.Y. Safra Bank customer reviews online. What reviews are available are mostly positive, and the bank is generally regarded as a sound institution.

How to Apply with M.Y. Safra Bank

M.Y. Safra Bank makes it very easy to enroll and purchase CDs online. The application process only takes about 20 minutes, and there are no eligibility requirements like joining a credit union. If you want to buy a CD from M.Y. Safra, visit its website to open and fund your account online.

Visit M.Y. Safra Bank

Marcus by Goldman Sachs: Best 6-year CD Rate

Marcus is a retail banking arm of Goldman Sachs, one of the largest investment banks in the world and the fifth-largest bank in the United States by assets. Marcus offers competitive CD rates including 3.10 percent for 6-year CDs, which is one of the best CD rates available. It also offers personal loans and other products to help people save.

Marcus CD Rates

Goldman Sachs Marcus CDs have the following rates:

• 6-year CD rate: 3.10% APY
• 5-year CD rate: 3.00%
• 4-year CD rate: 2.60%
• 3-year CD rate: 2.55%
• 2-year CD rate: 2.45%
• 18-month CD rate: 2.35%
• 12-month CD rate: 2.30%
• 9-month CD rate: 0.70%
• 6-month CD rate: 0.60%

Marcus Minimum Deposit Requirements

Marcus CDs have a minimum deposit of $500.

Marcus Fees

Marcus charges the CD fees including:

• Early withdrawal fee: 90 – 365 days of interest depending on CD term
• Incoming wire transfer fee: None
• Paper statement fee: None

Marcus charges penalties for withdrawing money from CDs before maturity. If the CD has less than a 12-month term, the penalty equals 90 days of interest on the principal at the CD rate. If the term is between 12 months to 5 years, the early withdrawal penalty is 270 days of interest. If the term is longer than 5 years, the penalty is 1 year of interest.

Marcus Eligibility Restrictions

Marcus is a bank and has no eligibility restrictions.

What Marcus Is Missing

Marcus is a subsidiary of one of the largest and most established financial institutions in the world. However, neither Marcus nor Goldman have branch offices. Instead, banking services are provided online and by mail. If you want to work access to physical branches, you may want to use one of the other providers of best CD rates, especially a credit union or community bank.

Marcus Customer Reviews

As the largest and most-established institution represented on this list, Marcus has excellent customer reviews. There have been a few customer complaints that have affected Marcus’s Better Business Bureau rating. Generally, however, customer reviews are extremely positive.

How to Apply with Marcus

Marcus by Goldman Sachs is a huge provider of some of the highest CD rates and has none of the eligibility restrictions of credit unions. If you want to buy a high-yield CD from Marcus, you can do so online in just 10 to 15 minutes. Once your account is open, you can fund it with as little as $500, and start earning some of the top CD rates available.

Visit Marcus

Communitywide Federal Credit Union: Best 5-year CD Rate

Communitywide Federal Credit Union is a credit union that pays 3.30 percent on 5-year CDs, which is the best available for that CD term. Based in South Bend, Indiana, Communitywide has is a small credit union that only has about a dozen branches across Northern Indiana but is generally considered a stable institution.

Communitywide Federal Credit Union CD Rates

Communitywide Federal Credit Union has the following CD rates:

• 5-year CD rate: 3.30% APY
• 4-year CD rate: 3.20%
• 3-year CD rate: 3.00%
• 30-month CD rate: 2.95%
• 2-year CD rate: 2.90%
• 18-month CD rate: 2.65%
• 1-year CD rate: 2.50%
• 6-month CD rate: 2.15%

Communitywide has the best CD rates for several different terms. In addition, having the best 5-year CD rate, Communitywide offers the best 3- and 4-year CD rates of 3.20 percent and 3.00 percent, respectively.

Communitywide Federal Credit Union Minimum Deposit Requirements

Communitywide Federal Credit Union CDs have a minimum deposit of $2,000.

Communitywide Federal Credit Union Fees

Communitywide Federal Credit Union CD fees include:

• Early withdrawal fee: Twice the unearned interest on the amount withdrawn
• Incoming wire transfer fee: $10 each
• Paper statement fee: $1 per page

Communitywide CD holders are prohibited from withdrawing money from their CDs before the end of the CD term. If money is withdrawn early, a penalty will be assessed equal to twice the CD interest rate for the amount of time remaining on the withdrawn amount.

Communitywide Federal Credit Union Eligibility Restrictions

Communitywide Federal Credit Union eligibility restrictions are:

• Members: Michiana Goodwill Boosters or members of the Marine Corps. League of St. Joseph Valley
• Employees: Current or former employees of more than two dozen Indiana businesses
• Family: Immediate family of anyone who’s qualified for membership

What Communitywide Federal Credit Union Is Missing

Communitywide Federal Credit Union has the best certificate of deposit rates for multiple different CD terms. However, the credit union has only a dozen branches in Northern Indiana. What’s more, you can only buy a Communitywide CD if you’re an eligible employee, retiree or donor to one of several organizations in North Indiana or a spouse or family member of someone who’s eligible.

Communitywide Federal Credit Union Customer Reviews

Communitywide Federal Credit Union has fairly positive customer reviews. There have been a few complaints about poor customer service, but Communitywide has an A+ rating from the Better Business Bureau and reviews are generally positive.

How to Apply with Communitywide Federal Credit Union

If you want to buy a CD from Communitywide Federal Credit Union, start by visiting its website. You can see whether you’re eligible to join the credit union and apply for an account. If your account is approved, you can open and fund your account online in less than 30 minutes.

Visit Communitywide Federal Credit Union

Mountain America Credit Union: Best 5-year CD Rate for Low Minimum Deposit

Mountain America Credit Union is one of the largest credit unions in the United States with over $7 billion in assets. It has the lowest 5-year CD rate for lower deposits because it pays 3.25 percent but only requires a $500 minimum deposit. In addition to some of the best CD rates, Mountain America also offers a full line-up of banking services including lending and investments.

Mountain America Credit Union CD Rates

Mountain America Credit Union offers the following APY CD rates:

• 5-year CD rate: 3.25% APY
• 4-year CD rate: 2.75%
• 3-year CD rate: 2.60%
• 30-month CD rate: 2.50%
• 24-month CD rate: 2.40%
• 18-month CD rate: 2.30%
• 12-month CD rate: 2.25%
• 6-month CD rate: 1.25%

Mountain America Credit Union Minimum Deposit Requirements

Mountain America Credit Union certificates of deposit have minimum deposit:

• CDs: $500
• Adding additional funds: $5

Mountain America Credit Union Fees

Mountain America Credit Union CD fees are:

• Early withdrawal fee: 90 to 365 days of interest on the full CD amount
• Incoming wire transfer fee: $10
• Paper statement fee: $2, which is waived for clients age 60 and older with checking accounts

Mountain America charges penalties for early CD withdrawals that vary by CD term. If the term of your CD is 1 year or less, the penalty is 90 days dividends on the full amount of the CD amount. If your CD term is between 12 and 48 months, the penalty is 180 days of interest on the full amount of the term deposit. If the CD term is 4 years or greater, then the penalty is 1 year of interest on the full amount of the CD.

Mountain America Credit Union Eligibility Restrictions

Mountain America Credit Union has eligibility restrictions including:

• Residents: Residents of Salt Lake, Duchesne, Wasatch or Uintah counties
• Employees: Employees of certain businesses in Utah
• Family: Immediate family or roommates of Mountain America members

What Mountain America Credit Union Is Missing

Mountain America is one of the largest credit unions in the U.S. but only has branches in five states. It also has limited credit union eligibility including residents of select counties in Utah, employees or volunteers of certain businesses or associations and family members of account holders and eligible members.

Mountain America Credit Union Customer Reviews

Mountain America Credit Union has extremely positive customer reviews online. Most customers like its customer service. Mountain America also has an A+ rating from the Better Business Bureau and is generally regarded as a great credit union.

How to Apply with Mountain America Credit Union

You can apply for an account with Mountain America Credit Union directly through its website. The process only takes about 15 minutes and, once you’re approved, you can fund your account online. After you open an account, you can buy Mountain America CDs with as little as $500 and get access to other services.

Visit Mountain America Credit Union

KS StateBank: Best 2-year CD Rate

KS StateBank has been around for nearly half a century and is considered very stable. They also have the best CD rates for 2-year CDs, with a rate of 2.85 percent. In addition to some of the best CD-rates for midterm CDs, KS StateBank also offers a lineup of personal and business banking services and specializes in government financing.

KS StateBank CD Rates

KS StateBank offers CD interest rates including:

• 7-year CD rate: 3.39% APY
• 5-year CD rate: 3.37%
• 4-year CD rate: 3.29%
• 3-year CD rate: 3.10%
• 2-year CD rate: 2.85%
• 1-year CD rate: 2.40%

KS StateBank offers the best 2-year CD rate of 2.85 percent as well as the best 4-year CD rate of 3.29 percent.

KS StateBank Minimum Deposit Requirements

KS StateBank CDs have the following minimum deposits:

• CDs: $500
• Jumbo CDs: $100,000; pay the same APYs as 12-, 18-, 24-, 36-, 48- and 60-month CDs

KS StateBank Fees

KS StateBank charges the following fees for CDs:

• Early withdrawal fee: 3 to 18 months interest on the amount withdrawn
• Incoming wire transfer fee: None
• Paper statement fee: $2 per statement

KS StateBank charges penalties for withdrawing money early from CDs that vary according to CD term. These penalties range from 3 to 18 months of interest on the amount withdrawn from a CD and are debited against the interest earned on your account or if the penalty exceeds earned interest, your account principal.

KS StateBank Eligibility Restrictions

KS StateBank is a bank and has no eligibility restrictions.

What KS StateBank Is Missing

KS StateBank is a state-chartered bank with great midterm CD rates. However, while you can buy KS StateBank CDs online, you must first open an account with the bank before you can purchase CDs. The bank’s physical branches are limited almost entirely to Kansas.

KS StateBank Customer Reviews

KS StateBank is a small family-owned state bank. While there aren’t many customer reviews online, those that are available are generally positive. There have been a few complaints about loan products, but some of those seem to be due to a lack of understanding about the bank’s offerings or being turned down for a loan.

How to Apply with KS StateBank

In order to buy a CD from KS StateBank, you first have to open an account with the bank. However, you can view a demo or set up an account online in less than 30 minutes. Once your account is open, you can fund your account online and start earning among the best 2- or 4-year certificate of deposit rates.

Visit KS StateBank

Interior Federal Credit Union: Best 18-month CD Rate

Interior Federal Credit Union is a credit union that offers the best 18-month CD rate of 2.68 percent. IFCU is considered a stable credit union but only serves employees and contractors of the U.S. Department of the Interior along with their families. Credit union customers have access to a full line of banking services, more than 5,600 branches nationwide as well as free use of more than 55,000 ATMs nationwide.

Interior Federal Credit Union CD Rates

Interior Federal Credit Union has the following CD rates:

• 5-year CD rate: 3.29% APY
• 5-year jumbo CD rate: 3.39%
• 4-year CD rate: 2.73%
• 4-year jumbo CD rate: 2.83%
• 3-year CD rate: 2.53%
• 3-year jumbo CD rate: 2.57%
• 2-year CD rate: 2.22%
• 2-year jumbo CD rate: 2.37%
• 18-month CD rate: 2.68%
• 18-month jumbo CD rate: 2.78%
• 12-month CD rate: 1.97%
• 12-month jumbo CD rate: 2.22%
• 6-month CD rate: 1.21%
• 6-month jumbo CD rate: 1.71%

Interior Federal Credit Union offers a wide variety of CDs with terms ranging from 6 months to 5 years. It also offers jumbo CDs for every term.

Interior Federal Credit Union Minimum Deposit Requirements

Interior Federal Credit Union CDs have minimum deposit requirements including:

• Jumbo CDs: $100,000
• All other CDs: $500

Interior Federal Credit Union Fees

Interior Federal Credit Union charges CD fees that include:

• Early withdrawal fee: 1 to 12 months of interest, based on CD term
• Incoming wire transfer fee: None
• Paper statement fee: $5

Interior Federal Credit Union CD holders who withdraw money early face early withdrawal penalties that vary by CD term. For CDs that last less than 12 months, the early withdrawal penalty is 30 days of interest. For CDs with a term of 12 to 24 months, the penalty is 90 days of interest. CDs with 24- to 48-month terms have an early withdrawal penalty equal to 180 days of interest. CDs with terms longer than 4 years have an early withdrawal penalty equal to 1 year of interest.

Interior Federal Credit Union Eligibility Restrictions

Interior Federal Credit Union eligibility restrictions include:

• Employees: Current or retired employees of the U.S. Department of the Interior and its bureaus
• Contractors: Independent contractors who work for the Department of the Interior
• Family: Immediate family members or roommates of qualified employees or contractors

What Interior Federal Credit Union Is Missing

Interior Federal Credit Union offers great certificate of deposit rates. However, the credit union only serves employees and contractors of the Department of the Interior along with their families, so eligibility is limited.

Interior Federal Credit Union Customer Reviews

Interior Federal Credit Union has many more branches than other providers on this list, but it’s customer reviews are unfortunately negative. Even that customers have free access to thousands of free ATMs across the country, Interior Federal is not BBB-accredited and has many complaints online.

How to Apply with Interior Federal Credit Union

To buy a CD from Interior Federal Credit Union, you first have to set up an account. You can visit the credit union’s website to see if you’re eligible. If you’re eligible, you can apply for an account online in about 15 to 20 minutes. Approval can take a few days but, once you’re approved, you can fund your account online and start earning some of the top CD rates.

Visit Interior Federal Credit Union

ableBanking: Best 12-month CD Rate

ableBanking is a division of Northeast Bank, which is an incredibly stable bank that dates back to 1872. ableBanking operates as a subsidiary that offers online banking including some of the best CD rates to customers across the country. It currently pays 2.5 percent on 12-month CDs, which is the best rate available.

ableBanking CD Rates

ableBanking offers CDs with the following rates and terms:

• 4-year CD rate: 1.65% APY
• 3-year CD rate: 0.90%
• 2-year CD rate: 2.80%
• 1-year CD rate: 2.50%
• 6-month CD rate: 1.05%

ableBanking Minimum Deposit Requirements

ableBanking CDs have a minimum deposit of $1,000.

ableBanking Fees

ableBanking charges CD fees including:

• Early withdrawal fee: 90 to 180 days of interest
• Incoming wire transfer fee: Free
• Paper statement fee: $2

ableBanking charges penalties for early CD withdrawals that vary by CD term. For CDs with terms shorter than 3 years, the early withdrawal penalty is 90 days of interest on the on the amount withdrawn. For CDs with terms of 3 years or longer, the penalty is 180 days of interest on the amount withdrawn.

ableBanking Eligibility Restrictions

ableBanking is a bank and has no eligibility restrictions.

What ableBanking Is Missing

ableBanking is an online division of a very well-established bank that offers some of the best CD rates available for short-term CDs. However, ableBanking does not have physical branches or ATMs.

ableBanking Customer Reviews

ableBanking has mixed customer reviews online. Reviews of its parent company — Northeast Bank — are excellent. However, ableBanking has had some customer complaints, including a few about online functionality.

How to Apply with ableBanking

You can open an account ableBanking and buy short-term CDs with some of the best rates available online through their website. It only takes a few minutes to set up an account and eligibility is not limited like with many credit unions. Once your account is opened, you can fund it only and start investing in CDs.

Visit ableBanking

MySavingsDirect: Best 6-month CD Rate

MySavingsDirect is a division of Emigrant Bank, which was founded in 1850 and is the oldest savings bank in New York. Emigrant is also one of the 10 largest privately owned banks in the U.S. MySavingsDirect is a subsidiary focused on high-yield savings products that currently pays 2.15 percent on 6-month CDs, which is the best rate available for that CD term.

MySavingsDirect CD Rates

MySavingsDirect offers the following CD rates:

• 10-year CD rate: 1.65% APY
• 5-year CD rate: 1.65%
• 30-month CD rate: 1.30%
• 6-month CD rate: 2.15%

MySavingsDirect Minimum Deposit Requirements

MySavingsDirect have a minimum deposit of $1,000.

MySavingsDirect Fees

MySavingsDirect charges the following fees for CDs:

• Early withdrawal fee: 90 – 180 days of interest
• Incoming wire transfer fee: None
• Paper statement fee: $2

For CDs with a term of less than a year, MySavingsDirect charges an early withdrawal penalty equal to 90 days of interest. CDs with terms of 1 year or longer have an early withdrawal penalty equal to 180 days of interest.

MySavingsDirect Eligibility Restrictions

MySavingsDirect is an online bank that has no eligibility restrictions.

What MySavingsDirect Is Missing

MySavingsDirect is an online provider that offers some of the top CD rates for short-term CDs. However, the company has a very limited web presence and provides very little information online. MySavingsDirect also offers very few savings compared to their parent bank.

MySavingsDirect Customer Reviews

MySavingsDirect has generally positive customer reviews online. Its reviews are not as positive as those of its parent company, Emigrant Bank. However, reviews are mostly positive and complaints are minimal.

How to Apply with MySavingsDirect

MySavingsDirect is an online-only provider that offers customers high-yield savings and some of the highest CD rates available. To get more information about its offerings or buy CDs from MySavingsDirect, you can open an account online in about 20 minutes. Once your account is open, you can fund it online and start investing in certificates of deposit.

Visit MySavingsDirect

Third Federal Savings & Loan: Best 3-month CD Rate

Third Federal Savings & Loan is a Cleveland-based bank that currently pays 2.00 percent on 3-month CDs – the best rate available. Third Federal is a small bank but is considered fairly stable and well-established. Third Federal customers have access to other banking services including lending and retirement accounts and can access their accounts through Fifth Third Bank ATMs nationwide.

Third Federal Savings & Loan CD Rates

Third Federal Savings & Loan offers the following CD rates:

• 6-year CD rate: 2.75% APY
• 5-year CD rate: 2.85%
• 4-year CD rate: 1.25%
• 39-month CD rate: 2.75%
• 36-month CD rate: 1.00%
• 30-month CD rate: 0.80%
• 29-month CD rate: 2.50%
• 24-month CD rate: 0.70%
• 18-month CD rate: 0.60%
• 15-month CD rate: 2.25%
• 12-month CD rate: 0.50%
• 6-month CD rate: 0.25%
• 3-month CD rate: 2.00%
• 1-month rolling CD rate: 1.75%

Third Federal Savings & Loan offers the best 3-month CD rate of 2.00 percent as well as 1.75 percent for 1-month rolling CDs, which is a relatively rare product.

Third Federal Savings & Loan Minimum Deposit Requirements

Third Federal Savings & Loan CDs have a minimum deposit of $500.

Third Federal Savings & Loan Fees

Third Federal Savings & Loan charges CD fees including:

• Early withdrawal fee: 1 – 18 months of interest
• Incoming wire transfer fee: $15
• Paper statement fee: $5

Third Federal charges early withdrawal penalties that vary by CD term. For CDs with terms of 91 days or less, the early withdrawal penalty equals 1 month of interest on the amount withdrawn early. CDs with terms between 92 days and 1 year carry an early withdrawal penalty of 3 months of interest on the amount withdrawn. CDs with terms between 1 to3 years have an early withdrawal penalty of 6 months. The penalty for CDs with terms of 3 to 4 years is 12 months of interest. CDs with a term of 4 years or longer have an early withdrawal penalty equal to 18 months of interest.

Third Federal Savings & Loan Eligibility Restrictions

Third Federal Savings & Loan is a bank and has no eligibility restrictions.

What Third Federal Savings & Loan Is Missing

Third Federal offers some of the highest CD rates available for short-term CDs. However, the bank is very limited geographically with branches only in Ohio and Florida and offers limited ATM access. Its long-term CD rates are also far less attractive compared to other providers.

Third Federal Savings & Loan Customer Reviews

Third Federal Savings & Loan has fairly positive customer reviews online and an A+ rating from the Better Business Bureau. There have been a few customer complaints online, but most are related to lending products. CD investors through the bank do not seem to encounter many problems.

How to Apply with Third Federal Savings & Loan

Third Federal Savings & Loan only has branches in Ohio and Florida, but anyone can sign up for an account online. The process takes about 30 minutes to complete and, once your account is set up, you can fund your account online and start investing in CDs with some of the best short-term rates available.

Visit Third Federal Savings & Loan

Best Alternative CD Rates

Updated August 2018

The Bottom Line

Certificates of deposit are an important tool for savers and investors. CD rates are lower than many other types of investments, but the top CD rates help investors grow their savings with deposits that last between 1 month and 10 years. To start building your savings, consider one of the institutions offering the best CD rates.