Best CD Rates by Term
All terms compared. Scraped fresh every morning.
| Bank | APY | |
|---|---|---|
| Top RateBread Savings | 4.50% | Open account → |
| Synchrony Bank | 4.30% | Open account → |
| Ally Bank | 4.10% | Open account → |
| Capital One 360 | 4.10% | Open account → |
| Marcus by Goldman Sachs | 1.00% | Open account → |
What is a Certificate of Deposit (CD)?
A CD locks your deposit for a fixed term — typically 3 months to 5 years — in exchange for a guaranteed interest rate. Because you commit to leaving the money untouched, banks offer higher rates than savings accounts.
All CDs listed on RatePorch are at FDIC-insured institutions. Early withdrawal is allowed but typically incurs a penalty of 60–180 days of interest, depending on the bank and term.
CD vs. HYSA: Which Is Right for You?
| CD | HYSA | |
|---|---|---|
| Rate type | Fixed | Variable |
| Can withdraw anytime | ✗ (penalty) | ✓ |
| FDIC insured | ✓ | ✓ |
| Best for | Locking in a rate | Flexibility / emergency fund |
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Frequently Asked Questions
What is a certificate of deposit (CD)? +
A CD locks your deposit for a fixed term — typically 3 months to 5 years — in exchange for a guaranteed interest rate. Because you commit to leaving the money untouched, banks offer higher rates than savings accounts.
What CD term should I choose? +
It depends on when you need the money. If you don't need access for 12+ months, a 12-month CD often offers the best rate-to-flexibility balance. If rates are falling, locking in a longer term can protect your yield.
What happens when my CD matures? +
When a CD matures you can withdraw the funds, roll into a new CD at the current rate, or move to a HYSA. Most banks give you a 7–10 day grace period before auto-renewing.
Are CDs FDIC insured? +
Yes. All CDs at FDIC-insured banks are protected up to $250,000 per depositor, per institution — the same as a savings account.
HYSA vs CD: which is better? +
HYSAs are better for emergency funds or money you may need soon, since you can withdraw anytime. CDs are better when you know you won't need the money for a set period and want to lock in the current rate.
How often are CD rates updated on RatePorch? +
Our scraper runs every morning and pulls the latest rates directly from each bank's website. You're always seeing current rates, not stale figures.