Current CD Rates: October 2020

Spencer TierneyOctober 1, 2020
current-cd-rates

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As the COVID-19 pandemic enters its eighth month, interest rates on certificates of deposit continue to drop across all terms. But you can still find high-yield CD rates double the national average of 0.36% for five-year terms and triple the national average of 0.18% for one-year terms.

Unlike regular savings accounts, most CDs have fixed rates, so you can lock in a high rates while they last. (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

Popular Direct

0.15% APY

TIAA Bank

0.35% APY

Radius Bank

0.25% APY

CURRENT CD RATES: 6-month

Pentagon Federal

0.30% APY

TIAA Bank

0.35% APY

Vio Bank

0.15% APY

CURRENT CD RATES: 1-year

Ally Bank

0.65% APY

Capital One 360

0.20% APY

PurePoint

0.25% APY

CURRENT CD RATES: 3-year

Barclays

0.40% APY

Connexus Credit Union

0.80% APY

Synchrony

0.75% APY

CURRENT CD RATES: 5-YEAR

Alliant Credit Union

0.65% APY

Citizens Access

0.75% APY

Marcus by Goldman Sachs

0.70% APY

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. Let's compare national averages with an online example.

1-YEAR RATE

Online bank

0.65% APY

All banks

0.18% APY

3-YEAR RATE

Online bank

0.65% APY

All banks

0.27% APY

5-YEAR RATE

Online bank

0.70% APY

All banks

0.36% APY

Online bank used for comparison is Marcus by Goldman Sachs.

» Interested in where CD rates have been? See our explainer on historical CD rates

Compare current CD rates at some online banks

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1-year APY

0.65%

With $500 minimum balance

1-year APY

0.60%

With $2,500 minimum balance

1-year APY

0.60%

With $5,000 minimum balance

3-year APY

0.65%

With $500 minimum balance

3-year APY

0.70%

With $2,500 minimum balance

3-year APY

0.65%

With $5,000 minimum balance

5-year APY

0.70%

With $500 minimum balance

5-year APY

0.80%

With $2,500 minimum balance

5-year APY

0.75%

With $5,000 minimum balance

Minimum Balance

$500

Member FDIC

Minimum Balance

$2,500

Member FDIC

Minimum Balance

$5,000

Member FDIC

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