Current CD Rates: January 2022
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More online banks raised their interest rates on certificates of deposit in the last three months of 2021, compared to the previous three months. This rise of some online CD rates started in July, while national average rates had slight upticks or remained flat. This comes after a relatively frozen low-rate environment for the first half of 2021 that followed a steady sequence of rate drops throughout 2020.
Among high-yield CDs, five-year CD rates are showing the biggest increases with a few above 1% annual percentage yield.
What hasn't changed is that you can find high-yield CDs with today's rates at least double the national average of 0.28% for five-year terms and triple the national average of 0.13% for one-year terms.
Unlike regular savings accounts, most CDs have fixed rates, so you can lock in a higher rate while it lasts. (See more details about historical CD rates as you consider what to expect in the near future.)
Here's a look at current CD rates at some online banks and credit unions.
» Want to compare more CDs? Check out our best CD rates
CURRENT CD RATES: 3-month | |
TIAA Bank | 0.35% APY |
Discover Bank | 0.20% APY |
Ally Bank | 0.15% APY |
Popular Direct | 0.15% APY |
Synchrony Bank | 0.15% APY |
» See more best 3-month CD rates | |
CURRENT CD RATES: 6-month | |
Quontic Bank | 0.55% APY |
Consumers Credit Union | 0.40% APY |
TIAA Bank | 0.40% APY |
Pentagon Federal Credit Union | 0.45% APY |
Sallie Mae Bank | 0.30% APY |
» See more best 6-month CD rates | |
CURRENT CD RATES: 1-year | |
Live Oak Bank | 0.75% APY |
Comenity Direct | 0.65% APY |
Connexus Credit Union | 0.61% APY |
Ally Bank | 0.55% APY |
Quontic Bank | 0.60% APY |
» See more best 1-year CD rates | |
CURRENT CD RATES: 3-year | |
Pentagon Federal Credit Union | 1.00% APY |
Connexus Credit Union | 0.81% APY |
Synchrony | 0.75% APY |
TIAA Bank | 0.80% APY |
Ally Bank | 0.65% APY |
» See more best 3-year CD rates | |
CURRENT CD RATES: 5-year | |
Quontic Bank | 1.20% APY |
Comenity Direct | 1.10% APY |
Lake Michigan Credit Union | 0.85% APY |
Marcus by Goldman Sachs | 1.00% APY |
Alliant Credit Union | 0.80% APY |
» See more best 5-year CD rates | |
Member FDIC
Synchrony Bank CD
0.55%
1 year
Member FDIC
Quontic Bank CD
0.60%
1 year
Member FDIC
Synchrony Bank CD
0.70%
14 months
Current CD Rates: Compare high-yield to national average rates
Although rates aren't as high as in recent years, they're still head and shoulders above national averages. The average rate for a one-year CD is 0.13% APY, and the average rate for a five-year CD is 0.28% APY. Let's compare national averages with an online example.
3-MONTH CD RATE | |
Online bank | 0.35% APY |
All banks | 0.06% APY |
6-MONTH CD RATE | |
Online bank | 0.40% APY |
All banks | 0.09% APY |
1-YEAR CD RATE | |
Online bank | 0.55% APY |
All banks | 0.13% APY |
3-YEAR CD RATE | |
Online bank | 0.75% APY |
All banks | 0.21% APY |
5-YEAR CD RATE | |
Online bank | 1.00% APY |
All banks | 0.28% APY |
Online banks used for comparison are TIAA Bank for the three- and six-month terms and Marcus by Goldman Sachs for the other terms. "All banks" refers to the Federal Deposit Insurance Corporation national averages. | |
» Want to see a wider pool of high rates? See our list of the best high-interest accounts
How do CDs work?
Learn more about the journey of choosing, opening and closing CDs.
For choosing CDs:
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See CD rates by term and type
Compare the best rates on certificates of deposit for various CD terms and types:
See CD rates by bank
If you want to see CD rates at specific banks, here’s a quick list of both traditional and online banks’ CDs (and one brokerage’s offering):
