Current CD Rates: October 2021

Spencer TierneyOct 1, 2021
current-cd-rates

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Interest rates on some of the more competitive certificates of deposit have started to rise since July, while national average rates have seen slight upticks or have 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.

What hasn't changed is that you can find high-yield CDs with today's rates at least double the national average of 0.27% for five-year terms and triple the national average of 0.14% 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

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

0.40% APY

Sallie Mae Bank

0.30% APY

CURRENT CD RATES: 1-year

Comenity Direct

0.65% APY

Connexus Credit Union

0.61% APY

Quontic Bank

0.60% APY

Live Oak Bank

0.60% APY

Ally Bank

0.55% APY

CURRENT CD RATES: 3-year

Pentagon Federal Credit Union

0.85% APY

Connexus Credit Union

0.81% APY

TIAA Bank

0.70% APY

Synchrony

0.75% APY

Ally Bank

0.65% APY

CURRENT CD RATES: 5-YEAR

Quontic Bank

1.11% APY

Comenity Direct

0.85% APY

Lake Michigan Credit Union

0.85% APY

Alliant Credit Union

0.65% APY

Marcus by Goldman Sachs

0.80% APY

Comenity Direct logo
Learn More

Member FDIC

Comenity Direct CD

Comenity Direct logo
APY

0.65%

Term

1 year

Discover Bank logo
Learn More

Member FDIC

Discover Bank CD

Discover Bank logo
APY

0.50%

Term

1 year

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 0.14% APY, and the average rate for a five-year CD is 0.27% 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

0.14% APY

3-YEAR CD RATE

Online bank

0.65% APY

All banks

0.20% APY

5-YEAR CD RATE

Online bank

0.80% APY

All banks

0.27% 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

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