8 US Banks with the Best CD Rates Right Now
Certificates of Deposit (CDs) are still one of the safest ways to earn a fixed return on your savings. A bunch of banks and credit unions are offering decent rates right now, so it’s worth shopping around. When you pick a CD, look at the term length, the annual percentage yield (APY), and the minimum deposit required. Here are eight institutions with some of the highest CD rates this month, along with links to their websites.
First Internet Bank of Indiana has CD rates from 3.72% to 4.49% APY, with terms from 3 months to 5 years. You need $1,000 to open one. It’s an online bank, so you can manage everything from your phone or computer.
Rising Bank offers CDs from 6 months to 3 years, with APYs between 2.70% and 4.41%. Minimum deposit is $1,000. Their online platform is easy to use.
Limelight Bank has CDs from 6 months to 3 years, with APYs from 3.80% to 4.40%. You need $1,000 to start. They also highlight environmentally conscious banking practices, if that matters to you.
Popular Direct offers CDs from 3 months to 5 years, with APYs between 4.10% and 4.40%. The catch is the $10,000 minimum deposit. Good if you have a chunk of cash to park.
Salem Five Direct has CDs from 6 months to 5 years, with APYs from 2.00% to 4.40%. Minimum deposit is $10,000. It’s the online branch of Salem Five Bank, so you get a traditional bank’s backing with digital access.
Newtek Bank has a 9-month CD at 4.60% APY and a 6-month CD at 4.50%. If you want short-term options with strong rates, this is worth a look.
OMB Bank offers a 9-month CD at 4.50% APY and a 13-month CD at 4.40% APY. Solid medium-term options if you don’t want to lock in for years.
TAB Bank has an 18-month CD at 4.16% APY, with a $1,000 minimum. A good middle ground if you want something longer than a year but not too long.
