Current CD Rates: June 2023
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The best CD rates have surpassed 4.30% annual percentage yields for six-month through five-year terms. This milestone hasn’t happened in quite a few years.
Online-only banks and credit unions continue to raise interest rates on certificates of deposit, especially since the Federal Reserve raised the federal funds rate ten times since March 2022. Learn more about what factors impact bank account rates mid-2023.
» Learn more: How Fed rate increases affect CDs
National average CD rates have also gone up, though still remain far lower than CDs at online institutions. The gradual rise of online high-yield CD rates started in July 2021, after a relatively low-rate environment in 2020 and 2021. (See more details about historical CD rates as you consider what to expect in the near future.)
High-yield CD rates today can be several times the national average of 1.37% APY for five-year terms and the national average of 1.59% APY for one-year terms. Unlike regular savings accounts, most CDs have fixed rates, so you can lock in a higher rate while it lasts.
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 promotional CD rates
The following promotional CD rates stand out based on NerdWallet’s data analysis in April 2023. Expiration dates for a promo are shown when available.
In general, promotional rates tend to be for irregular CD terms and are featured on banking websites as a “promotional rate” or “CD special.” (For more details, see how promotional CD rates work.)
Name (click to see our review) | CD rate (or certificate rate) |
|---|---|
Marcus by Goldman Sachs: 10-month CD | 5.05% APY (annual percentage yield) as of 03/28/2023. Special Offer Expires 09/15/2023. |
Consumers Credit Union: 10-month Certificate | 5.00% APY. |
Ally Bank: 13-month CD | 4.75% APY (expires 6/13/23). |
NBKC Bank: 15-month CD | 4.50% APY. |
Connexus Credit Union: 15-month Certificate | 5.05% APY. |
PenFed Credit Union: 15-month Certificate | 4.65% APY. |
Service Credit Union: 15-month Certificate | 4.40% APY. |
U.S. Bank: 19-month CD | Up to 4.45% APY (Varies by location). |
Current online CD rates by term
Here’s a sample of five high-yield CD rates per term at various banks and credit unions.
CURRENT CD RATES: 3-month | |
Popular Direct. | 4.50% APY. |
Citibank. | 0.05% APY. |
Synchrony Bank. | 2.25% APY. |
TIAA Bank. | 4.00% APY. |
Ally Bank. | 2.50% APY. |
» See more best 3-month CD rates | |
CURRENT CD RATES: 6-month | |
Popular Direct. | 5.10% APY. |
Live Oak Bank. | 4.80% APY. |
Bask Bank. | 5.10% APY. |
CIT Bank. | 5.00% APY. |
Vio Bank. | 5.05% APY. |
» See more best 6-month CD rates | |
CURRENT CD RATES: 1-year | |
Alliant Credit Union. | 5.00% APY. |
PenFed Credit Union. | 4.60% APY. |
Live Oak Bank. | 5.00% APY. |
Connexus Credit Union. | 5.01% APY. |
Bread Savings. | 5.20% APY. |
» See more best 1-year CD rates | |
CURRENT CD RATES: 3-year | |
Bread Savings. | 4.50% APY. |
Sallie Mae Bank. | 4.00% APY. |
Ally Bank. | 4.25% APY. |
Capital One. | 4.30% APY. |
Synchrony Bank. | 4.30% APY. |
» See more best 3-year CD rates | |
CURRENT CD RATES: 5-year | |
Popular Direct. | 4.53% APY. |
Bread Savings. | 4.25% APY. |
Quontic Bank. | 4.30% APY. |
Discover Bank. | 4.00% APY. |
Capital One. | 4.10% APY. |
» See more best 5-year CD rates | |
Member FDIC
Marcus by Goldman Sachs High-Yield 10-Month CD
5.05%
10 months
Member FDIC
CIT Bank CD
5.00%
6 months
Current CD Rates: Compare high-yield to national average rates
3-MONTH CD RATES | |
Online bank. | 2.25% APY. |
National average. | 0.62% APY. |
6-MONTH CD RATES | |
Online bank. | 2.25% APY. |
National average. | 1.19% APY. |
1-YEAR CD RATES | |
Online bank. | 4.75% APY. |
National average. | 1.59% APY. |
3-YEAR CD RATES | |
Online bank. | 4.30% APY. |
National average. | 1.36% APY. |
5-YEAR CD RATES | |
Online bank. | 4.30% APY. |
National average. | 1.37% APY. |
Online bank used for comparison is Synchrony Bank. “National average” refers to the Federal Deposit Insurance Corp. 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 choosing CDs, understanding CD rates, and opening and closing CDs.
For choosing CDs:
For understanding CD rates:
For opening CDs:
For closing CDs:
See CD rates by term and type
Compare the best rates for various CD terms and types:
See CD rates by bank
Here’s a quick list of CD rates at traditional and online banks and a brokerage:
» Want to take a quiz? See what bank is best for you below (or read full quiz instructions here)
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