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181 of the Best CD Accounts of 2017

181 of the Best CD Accounts of 2017

In our Best CD Accounts review, we have highlighted the Certificates Of Deposit offered by 22 companies. There is a total of 181 different CD accounts you may try. Each has its own term, rate and starting amount. We have added a very large table that features all 181 CDs. You may then read a small review on each of the 22 companies/banks/credit unions that provide the CDs. Finally, we offer instructions on how to save with CDs, such as how to take advantage of the popular phenomenon called CD laddering.

We have not judged the banks, credit unions or money companies on anything other than the CDs they offer. Since a certificate of deposit is such a simple creature, we were unable to eliminate a great deal of them. For example, when we normally review a company or product, we can eliminate them for poor service or terrible technology. However, in this case, of all the CDs we tested, we were only able to eliminate a minority of CD accounts. That is why we have had to mention 181 CDs in this article–because we couldn’t find anything wrong with them. They are available to most people in most states, they are fair, they offer reasonably good rates, and they are all insured.

Name Of The CD ProviderLength Of CD (Term)Minimum Deposit To Earn APYAnnual Percentage Yield (APY)
BBVA Compass  3 months
$10.05%
BBVA Compass  6 months
$10.10%
BBVA Compass 12 months$10.10%
BBVA Compass 18 months$10.25%
BBVA Compass 24 months$10.30%
BBVA Compass 30 months$10.30%
BBVA Compass 36 months$10.40%
BBVA Compass 48 months$10.50%
BBVA Compass 60 months$10.50%
MyCBB  3 months$10000.60%
MyCBB  6 months$10000.65%
MyCBB 12 months$10000.86%
MyCBB 18 months$10000.86%
MyCBB 24 months$10000.86%
First Internet Bank  3 months$10001.21%
First Internet Bank  6 months$10001.37%
First Internet Bank 12 months$10001.52%
First Internet Bank 18 months$10001.66%
First Internet Bank 24 months$10001.81%
First Internet Bank 36 months$10001.94%
First Internet Bank 48 months$10002.07%
First Internet Bank 60 months$10002.30%
Discover120 months$25002.35%
Discover 84 months$25002.30%
Discover 60 months$25002.25%
Discover 48 months$25001.70%
Discover 36 months$25001.60%
Discover 30 months$25001.55%
Discover 24 months$25001.50%
Discover 18 months$25001.40%
Discover 12 months$25001.35%
Discover  9 months$25000.70%
Discover  6 months$25000.65%
Discover  3 months$25000.35%
USAA Federal  3 months$10000.30%
USAA Federal  6 months$10000.56%
USAA Federal  7 months$10000.56%
USAA Federal  9 months$10000.66%
USAA Federal 12 months$10000.71%
USAA Federal 15 months$10000.71%
USAA Federal 18 months$10000.76%
USAA Federal 24 months$10000.81%
USAA Federal 30 months$10000.85%
USAA Federal 36 months$10000.91%
USAA Federal 48 months$10000.95%
USAA Federal 60 months$10001.06%
USAA Federal 84 months$10001.06%
First Republic Bank  3 months
$10,000
0.25%
First Republic Bank  6 months$10,000
0.50%
First Republic Bank 12 months$10,0000.60%
First Republic Bank 18 months$10,0000.85%
First Republic Bank 24 months$10,0001.00%
First Republic Bank 36 months$10,0001.20%
First Republic Bank 48 months$10,0001.25%
First Republic Bank 60 months$10,0001.50%
Bank5 Connect  6 months$5000.85%
Bank5 Connect 12 months$5001.00%
Bank5 Connect 18 months$5001.05%
Bank5 Connect 24 months$5001.30%
Bank5 Connect 36 months$5001.50%
Goldman Sachs  6 months$5000.60%
Goldman Sachs  9 months$5000.70%
Goldman Sachs 12 months$5001.40%
Goldman Sachs 18 months$5001.45%
Goldman Sachs 24 months$5001.55%
Goldman Sachs 36 months$5001.90%
Goldman Sachs 48 months$5001.80%
Goldman Sachs 60 months$5002.25%
Goldman Sachs 72 months$5002.30%
Bank of America  3 months
$1,000
0.03%
Bank of America  6 months
$1,0000.03%
Bank of America 12 months$1,0000.05%
Bank of America 18 months$1,0000.07%
Bank of America 24 months$1,0000.10%
Bank of America 30 months$1,0000.10%
Bank of America 36 months$1,0000.12%
Bank of America 48 months$1,0000.15%
Bank of America 60 months$1,0000.15%
Synchrony Bank  3 months
$2,0000.25%
Synchrony Bank  6 months
$2,0000.41%
Synchrony Bank  9 months
$2,0000.45%
Synchrony Bank 12 months$2,0001.40%
Synchrony Bank 15 months$2,0001.55%
Synchrony Bank 18 months$2,0001.45%
Synchrony Bank 24 months$2,0001.65%
Synchrony Bank 36 months$2,0001.80%
Synchrony Bank 48 months$2,0001.95%
Synchrony Bank 60 months$2,0002.30%
HSBC  6 months
$1,0000.75%
HSBC 12 months$1,0000.95%
HSBC 24 months$1,0001.30%
Ally Bank  3 months
$1000.30%
Ally Bank  6 months
$1000.60%
Ally Bank  9 months
$1001.00%
Ally Bank 12 months$1001.35%
Ally Bank 18 months$1001.20%
Ally Bank 36 months$1001.50%
Ally Bank 60 months$1002.25%
Citibank  3 months
$1,000
0.05%
Citibank  6 months
$1,0000.07%
Citibank 12 months$1,0000.15%
Citibank 18 months$1,0000.25%
Citibank 24 months$1,0000.25%
Citibank 30 months$1,0000.25%
Citibank 36 months$1,0000.35%
Citibank 48 months$1,0000.35%
Citibank 60 months$1,0000.50%
Chase  3 months
$1,0000.01%
Chase  6 months
$1,0000.01%
Chase 12 months$1,0000.01%
Chase 18 months$1,0000.05%
Chase 24 months$1,0000.05%
Chase 30 months$1,0000.05%
Chase 36 months$1,0000.05%
Chase 48 months$1,0000.10%
Chase 60 months$1,0000.25%
OneUnited Bank  3 months
$1,0000.20%
OneUnited Bank 18 months$1,0001.00%
OneUnited Bank 24 months$1,0001.05%
OneUnited Bank 36 months$1,0001.20%
OneUnited Bank 48 months$1,0001.30%
Barclays  3 months
$10.35%
Barclays  6 months
$10.55%
Barclays  9 months
$10.60%
Barclays 12 months
$11.40%
Barclays 18 months$11.40%
Barclays 24 months$11.60%
Barclays 36 months$11.65%
Barclays 48 months$11.75%
Barclays 60 months$12.25%
US Bank  1 month
$5000.05%
US Bank  2 months
$5000.05%
US Bank  3 months
$5000.05%
US Bank  6 months
$5000.05%
US Bank  9 months
$5000.05%
US Bank 12 months
$5000.10%
US Bank 18 months$5000.15%
US Bank 24 months$5000.20%
US Bank 36 months$5000.35%
US Bank 48 months$5000.50%
US Bank 60 months$5000.75%
Sallie Mae 12 months$25001.40%
Sallie Mae 36 months$25001.90%
Sallie Mae 60 months$25001.80%
Union Bank  3 months
$10,000
0.05%
Union Bank  6 months
$10,0000.05%
Union Bank 12 months$10,0000.15%
Union Bank 18 months$10,0000.15%
Union Bank 24 months$10,0000.20%
Union Bank 30 months$10,0000.20%
Union Bank 36 months$10,0000.35%
Union Bank 48 months$10,0000.40%
Union Bank 60 months$10,0000.50%
Provident  6 months
$10000.15%
Provident 12 months
$10000.25%
Provident 24 months
$10000.40%
Provident 36 months
$10000.65%
Provident 48 months
$10000.95%
Provident 60 months
$10001.20%
EverBank  3 months
$5,0000.80%
EverBank  6 months$5,0000.85%
EverBank  9 months$5,0000.93%
EverBank 12 months
$5,000
1.45%
EverBank 18 months$5,0001.52%
EverBank 24 months
$5,0001.70%
EverBank 30 months$5,0001.50%
EverBank 36 months
$5,0001.92%
EverBank 48 months
$5,0002.00%
EverBank 60 months$5,0002.25%
Wells Fargo  3 months
$2,500
0.01%
Wells Fargo  6 months
$2,500
0.01%
Wells Fargo 12 months
$2,500
0.05%
Capital One  6 months
$10000.40%
Capital One  9 months
$10000.60%
Capital One 12 months
$10000.90%
Capital One 18 months$10001.10%
Capital One 24 months
$10001.60%
Capital One 30 months$10001.60%
Capital One 36 months
$10001.60%
Capital One 48 months
$10001.80%
Capital One 60 months$10002.10%

MyCBB

They offer terms of 3 months, 6 months, 12 months, 18 months and 24 months. The minimum you are allowed to open your CD with is $1000. When we did our review, these were the rates: 0.65%, 0.86%, 0.93% and 1.00%. However, it now appears that the APY rate only goes up to 0.86%, but this may change again, so do a little digging when you sign up for an account. It only says you are able to open a 1-year CD when you visit the website, but if you get an account, you can choose a term other than the 1-year term. They have FDIC insurance for amounts up to $250,000.

First Internet Bank

They offer terms of 3 months, 6 months, 12 months, 18 months, 24 months, 36 months, 48 months and 60 months. The minimum you are allowed to open your CD with is $1000. First Internet Bank offers APY rates between 1.20% and 2.28%. You need to open a CD with at least $1000 to earn any interest. The rates apply to all balance levels because the rates are based on term lengths and not how much you have deposited. If you withdraw your money early, they have a withdrawal penalty where they strip you of a certain number of days of interest. They have FDIC insurance for amounts up to $250,000.

Discover

They offer terms of that run from a three-month term to a full ten year term. The minimum you are allowed to open your CD with is $2500. You may deposit between $2500 and $750,000. The Discover website has a very groovy interest calculator. It shows you how much interest you will earn if you keep your money in your account for the full length of the term. The ten-year term looks very attractive. For example, even with the $2500 minimum deposit, you will earn $652.78 for leaving it in your CD for 10 years. They have FDIC insurance for amounts up to $250,000.

USAA Federal Savings Bank

There are variable rate certificates of deposit, there are adjustable rate CDs, and fixed rate CDs. The smallest CD you can buy is $1000, but you may also buy jumbo CDs of $95,000 and Super Jumbo CDs for $175,000. The best rates are the fixed rates, which is why that is the one we have added to our Best CD Accounts review. They offer terms of between 91 days and 7 years. Rates do alter depending upon if you pick a Standard, Jumbo or Super Jumbo certificate of deposit. The minimum you are allowed to open your CD with is $1000.

They have FDIC insurance for amounts up to $250,000. Rates do alter depending upon if you pick a Standard, Jumbo or Super Jumbo certificate of deposit. That is why we have added an image of their Jumbo and Super Jumbo rates below for people who are looking to deposit more than $94,999.

USAA Federal Savings Bank CD APY rates

First Republic Bank

They offer terms of 3 months, 6 months, 12 months, 18 months, 24 months, 36 months, 48 months and 60 months. The minimum you are allowed to open your CD with is $10,000, and the maximum is $1,000,000. The company says you have to invest $10,000 in order to earn interest, and yet they do not have the highest APY on this article. Obviously, you should pick the CD that is best for you, but you may be able to get a higher APY for your $10,000. Still, the choice is yours. They have FDIC insurance for amounts up to $250,000.

Bank5 Connect

They offer terms of 6 months, 12 months, 18 months, 24 months, and 36 months. The minimum you are allowed to open your CD with is $500. The rates are pretty good, but Bank5Connect is in the habit of creating promotional rates to draw people in. If their rates have fallen by the time you check their account, then add them to your favorites and nip back in a few months to see if they are offering sexier rates again. They have FDIC insurance for amounts up to $250,000.

Goldman Sachs

They offer terms of 6 months, 9 months, 12 months, 18 months, 24 months, 36 months, 48 months, 60 months and 72 months. The minimum you are allowed to open your CD with is $500. Their rates are really good, especially when you get past the 12-month mark, but a good rate is hardly a surprise from a company with the reputation that GS Bank has. They have FDIC insurance for amounts up to $250,000.

Bank of America

They offer terms of 3 months, 6 months, 12 months, 18 months, 24 months, 30 months, 36 months, 48 months and 60 months. The minimum you are allowed to open your CD with is $1000. The APY rate is pretty darn low, but they have fairly flexible conditions that may suit some people. If anything, it is a nice place to lock your money away for a while, even if you are not going to see much interest from it. They have FDIC insurance for amounts up to $250,000.

Synchrony Bank

They offer terms of 3 months, 6 months, 9 months, 12 months, 15 months, 18 months, 24 months, 36 months, 48 months and 60 months. The minimum you are allowed to open your CD with is $2000. They have FDIC insurance for amounts up to $250,000. The rates on our table are for amounts between $2000 and $24,999. If you have more to invest, then you may enjoy better rates on their CDs for amounts between $25,000 and $99,999. There are also better APY rates if you have more than $100,000 to invest. We have added an image of their rates for higher deposits on the image below.

Synchrony Bank CD rates

BBVA Compass

They offer terms of 3 months, 6 months, 12 months, 18 months, 24 months, 36 months, 48 months and 60 months. The minimum you are allowed to open your CD with is $1. In other words, you earn interest on whatever amount of money you put into your CD, but the company recommends that you put in at least $500 so that it is worth your while putting the money in there. They have FDIC insurance for amounts up to $250,000.

HSBC

They offer terms of 6 months, 12 months, and 24 months. The minimum you are allowed to open your CD with is $1000. There isn’t much to play with, but they are a big bank and it may be easier and more convenient to put your money into a HSBC certificate of deposit if you are already a HSBC account holder. They have FDIC insurance for amounts up to $250,000.

Ally Bank

They offer terms of 3 months, 6 months, 9 months, 12 months, 18 months, 36 months, and 60 months. The minimum you are allowed to open your CD with as little as $1, but to start earning interest, you really need at least $100. The APY rate you receive will depend on the amount you put in. If you put in higher amounts, then you may qualify for a higher APY rate. They have FDIC insurance for amounts up to $250,000.

Citibank

They offer terms of 3 months, 6 months, 12 months, 18 months, 24 months, 30 months, 36 months, 48 months and 60 months. The minimum you are allowed to open your CD with is $1000. Citibank may offer you different rates based on which state you are living in, but most states come with the APY rates we have shown in our rates table. They have FDIC insurance for amounts up to $250,000.

Chase

They offer terms of 3 months, 6 months, 12 months, 18 months, 24 months, 30 months, 36 months, 48 months and 60 months. The minimum you are allowed to open your CD with is $1000. Chase has less-than-exciting rates on offer. I can only recommend their certificates of deposit under two circumstances. The first is if you are already a Chase customer and you cannot be bothered to open up a new account with a different CD provider. The second reason is to take advantage of one of their promotional offers that they run every now and again. They have FDIC insurance for amounts up to $250,000.

OneUnited Bank

They offer terms of 3 months, 18 months, 24 months, 36 months, and 48 months. The minimum you are allowed to open your CD with is $1000. The OneUnited Bank website is pretty bad, but this article on the best CD accounts is only about the CDs themselves and not the quality of the banks that offer them. There are a few different certificate of deposit options for people with larger amounts of money. The rates shown on our table are their standard CD APY rates. They have FDIC insurance for amounts up to $250,000.

Barclays

They offer terms of 3 months, 6 months, 9 months, 12 months, 18 months, 24 months, 36 months, 48 months and 60 months. The minimum you are allowed to open your CD with is $1. Barclays have made the process of buying CDs very easy, and their rates are very reasonable when you remember that you are allowed to invest in a CD with as much or as little money as you desire. They have FDIC insurance for amounts up to $250,000.

US Bank

They offer terms of 1 month, 2 months, 3 months, 6 months, 9 months, 12 months, 18 months, 24 months, 36 months, 48 months and 60 months. The minimum you are allowed to open your CD with is $500, and the maximum is $249,999. If you have more money to invest, then the US Bank has other CD products for you. They have FDIC insurance for amounts up to $250,000.

Sallie Mae

They offer terms of 12 months, 36 months, and 60 months. The minimum you are allowed to open your CD with is $2500. One of our issues with the Sallie Mae Bank is that they changed their APY rates this year. Their APY rates actually went up this year, which is fine, but you have to assume their rates may go down as readily as they go up. If their rates have gone down by the time you visit their website, then consider another bank or CD provider instead. They have FDIC insurance for amounts up to $250,000.

Union Bank

They offer terms of 3 months, 6 months, 12 months, 18 months, 24 months, 30 months, 36 months, 48 months and 60 months. The minimum you are allowed to open your CD with is $10,000.You may be able to choose a CD with a lower opening deposit of just $2500. There is a Certificates of Deposit tool that allows you to calculate the interest you can earn from your CD, and you can set up account alerts with your online account. They have FDIC insurance for amounts up to $250,000.

Provident Credit Union

They offer terms of 6 months, 12 months, 24 months, 36 months, 48 months and 60 months. The minimum you are allowed to open your CD with is $1000. There are various options that you may try that do not require a $1000 deposit. For example, they have different terms, rates and minimum deposits for their youth accounts. The table on their website doesn’t make it easy to understand, but explore it a little because there are some interesting CD choices on there. Your money is federally insured by the NCUA .

EverBank

They offer terms of 3 months, 6 months, 9 months, 12 months, 18 months, 24 months, 30 months, 36 months, 48 months and 60 months. The minimum you are allowed to open your CD with is $5000. The interest earnings calculator on the website will help you figure out how much you will earn from your certificate of deposit. They have FDIC insurance for amounts up to $250,000.

Wells Fargo

They offer terms of 3 months, 6 months, and 12 months. The minimum you are allowed to open your CD with is $2500. The rates are pretty terrible, but it is a big bank and the CD itself isn’t terrible, it is just that you can probably get a better rate with many other banks and credit unions. They have FDIC insurance for amounts up to $250,000.

Capital One 360

They offer terms of 6 months, 9 months, 12 months, 18 months, 24 months, 30 months, 36 months, 48 months and 60 months. The minimum you are allowed to open your CD with is $1000. The APY rates they offer are pretty good, and their CDs are especially convenient if you already have an online account with Capital One. They have FDIC insurance for amounts up to $250,000.

What Is CD Laddering And What Is All The Fuss About?

CD Laddering is now so common that CD providers often mention them on their websites. If you use CD Laddering, then you will be able to gain access to your funds at least one time per year.

You may like the idea of saving, but not like the idea of putting your money away for a long time where you cannot get at it. There may be times during the year when you need your money, and the last thing you want to do is withdraw the money because you will suffer some ugly penalties.

If you ladder your CDs, then every year you are going to gain access to your money. That way, you may examine whether you will need the money or not before you re-invest it. If you are concerned that you may need the money for a big expense this year, then you can hold off re-investing it until you are sure you will not need the money urgently. The image below shows how CD laddering works.

CD laddering

As you can see by the image above, there is at least one occasion every year where you are able to gain access to your money. After a while, you are able to set up 5-year CDs, which tend to be the most profitable, and yet you still gain access to your money once per year.

Bulking Up Your Savings By Making No Withdrawals

CD Laddering is the sort of thing you should do if you need access to your money at least once per year. If you are saving for the sake of wealth building, and you are sure you are not going to need your money any time soon, then why not try this bulking/bundling trick.

CD Bundle

The goal is to buy a certificate of deposit every year. On the first year, you buy a five year CD, then a four year, three year, two year and one year. On year five, all of your CDs should mature.

When you reach year number five, all of your CDs should eventually mature. Collect together all the money and put it into a 5 year CD. You then begin the process again.

I suggest that you keep trying this trick until your CDs reach a value of $250,000. At that point, you need to find a new CD provider because you are not insured for more than $250,000 with just one company, bank or credit union.

Let’s do a little math to see how it goes. You invest two thousand dollars every year. Each CD comes with a different rate. At the end of the year we have a total of $10,607. Invest that money into a new 5 year CD and build up the size of your CD, while starting the whole process again.
CD Bundle with figures

What Is The Point Of A Bundling Up Your CDs In The Fashion We Just Explained?

As you can see by the image above, you are able to build up a sizeable nest egg within just five year, but what is the point? The point is to build up a large nest egg in an efficient manner, so that you may take advantage of CDs with larger APY rates.

There are CDs that give you a higher APY rate if you invest more money. Take the example of Synchrony bank. They give you a standard rate for amounts up to $25,000, and they give you a higher rate for amounts of $25,000 or over, and they give you an even higher rate for amounts over $100,000.

If you bundle together your CDs in the manner that has been explained above, then every five years you may be able to take advantage of a higher APY rate that is offered by a bank such as Synchrony. Not only are you able to do this, but you are also able to maintain your $2000 per year investment routine.

Methods For Avoiding Early Withdrawal Penalties If You Are Worried You May Need The Money

Avoid longer CDs if you are worried you are going to withdraw early. Withdrawal penalties are so steep and nasty that they make saving a waste of time if you incur them.

There are two ways that you may help yourself avoid early withdrawal fees and penalties. The key is to understand that you may need the money at some point, and to prepare yourself for that occasions.

The first method is to only invest in 3-month CDs. If you do this, then there is a bigger chance you will not have to withdraw early. You may be able to keep the floodwaters back long enough for your CD to mature.

The second method is to invest in numerous CDs rather than creating one nest egg. For example, if you take our advice and only invest in 3-month CDs, then invest in more than one. You may have a total of $6000 to invest. In which case, invest in 3 CDs, and invest only $2000 at a time. If you have some sort of trouble during the coming months, one of your $2000 CDs may mature soon enough to rescue you from your financial problem. If you do have to withdraw early, then you need only withdraw from one and leave the other two to mature, which may help lower your overall losses.

Are Fixed Rate CDs The Best? Or, Should I Try Bump Up Or Flexible CDs?

Yes, fixed-rate CDs are the best because they almost always have the best APY rates. There are numerous other types of CD, and each one comes with its own benefit, but in most cases, you have to pay for the extra benefit by taking a lower APY rate.

There are no real benefits to a fixed-rate CD other than its APY. You put in your money, and you do not see it again for a long while. That is the way a fixed-rate CD works. You may be tempted by other types of CD, but in most cases, you are better off with a fixed-rate CD.

Flexible CDs may allow you to add money to your CD while it is still running, or it may allow you to withdraw some of your money from your CD without a penalty. Such tools and functions are fine, but the trade off is a lower APY rate. Is a flexible CD with all its perks really worth the money you are going to lose because it comes with a lower APY rate?

You may like the idea of a Bump-Up CD. That is where the certificate of deposit provider says you are able to ask for a CD rate increase in the future if rate jump up between now and the time your CD matures. The only problem is that the CD provider offers you a slightly lower rate to begin with, which means any rises will have little effect on your final amount. If you can get a bump-up CD without any downsides or catches, then you should consider taking one.

Conclusion – Is There A Greatest Or Best Certificate Of Deposit?

As mentioned in the introduction, a certificate of deposit is such a simple creature that CD providers have a hard time getting it wrong. There is very little to dislike when you are picking your CD. You may be attracted to the CDs with the highest rates, and there is nothing wrong with that, but others may be attracted to special offers or CDs for people with special circumstances. Some people may prefer a CD with a high minimum deposit, and others may be looking for a CD that has special perks (such as bump-up options). There is no wrong answer when you are dealing with the CDs listed on this best CD accounts article because they are all pretty good.

About The Author

Ash The Great

After a varied career in different industries from the hospitality industry to the financial consultancy industry, Ash now spends his days working as a professional writer.

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