Best of
14 Best 1-Year CD Rates December 2019
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Summary of Best 1-Year CD Rates December 2019
| Bank | APY | Minimum Deposit | Learn More |
|---|---|---|---|
 Goldman Sachs Bank USA at Goldman Sachs Bank USA, Member, FDIC | 2.05% | $500 | at Goldman Sachs Bank USA, Member, FDIC |
 Discover Bank at Discover Bank, Member, FDIC | 2.00% | $2,500 | at Discover Bank, Member, FDIC |
 Connexus Credit Union | 2.01% | $5,000 | |
 Citizens Access | 2.10% | $5,000 | |
 Barclays | 2.00% | $0 | |
 Ally Bank | 2.00% | $0 | |
 Synchrony Bank | 2.00% | $2,000 | |
 TIAA Bank | 2.10% | $5,000 | |
 Alliant Credit Union | 1.95% | $1,000 | |
 Sallie Mae Bank | 2.10% | $2,500 | |
 Capital One | 2.10% | $0 | |
 First Tech Federal Credit Union | 2.10% | $500 | |
 PurePoint® Financial | 1.95% | $10,000 | |
 Bank5 Connect | 2.00% | $500 |
| Bank | APY | Minimum Deposit | Learn More |
|---|---|---|---|
Goldman Sachs Bank USA at Goldman Sachs Bank USA, Member, FDIC | 2.05% | $500 | at Goldman Sachs Bank USA, Member, FDIC |
Discover Bank at Discover Bank, Member, FDIC | 2.00% | $2,500 | at Discover Bank, Member, FDIC |
Connexus Credit Union | 2.01% | $5,000 | |
Citizens Access | 2.10% | $5,000 | |
Barclays | 2.00% | $0 | |
Ally Bank | 2.00% | $0 | |
Synchrony Bank | 2.00% | $2,000 | |
TIAA Bank | 2.10% | $5,000 | |
Alliant Credit Union | 1.95% | $1,000 | |
Sallie Mae Bank | 2.10% | $2,500 | |
Capital One | 2.10% | $0 | |
First Tech Federal Credit Union | 2.10% | $500 | |
PurePoint® Financial | 1.95% | $10,000 | |
Bank5 Connect | 2.00% | $500 |
at Goldman Sachs Bank USA,
Member, FDIC
Goldman Sachs Bank USA
APY
With $500 minimum balance
Minimum Balance
Member, FDIC
at Goldman Sachs Bank USA,
Member, FDIC
at Discover Bank,
Member, FDIC
Discover Bank
APY
With $2500 minimum balance
Minimum Balance
Member, FDIC
at Discover Bank,
Member, FDIC
Connexus Credit Union
APY
With $5000 minimum balance
Minimum Balance
Member, NCUA
Citizens Access
APY
With $5000 minimum balance
Minimum Balance
Member, FDIC
Barclays
APY
With $0 minimum balance
Minimum Balance
Member, FDIC
Ally Bank
APY
With $0 minimum balance
Minimum Balance
Member, FDIC
Synchrony Bank
APY
With $2000 minimum balance
Minimum Balance
Member, FDIC
TIAA Bank
APY
With $5000 minimum balance
Minimum Balance
Member, FDIC
Alliant Credit Union
APY
With $1000 minimum balance
Minimum Balance
Member, NCUA
Sallie Mae Bank
APY
With $2500 minimum balance
Minimum Balance
Member, FDIC
Capital One
APY
With $0 minimum balance
Minimum Balance
Member, FDIC
First Tech Federal Credit Union
APY
With $500 minimum balance
Minimum Balance
Member, NCUA
PurePoint® Financial
APY
With $10000 minimum balance
Minimum Balance
Member, FDIC
Bank5 Connect
APY
With $500 minimum balance
Minimum Balance
Member, FDIC
» Want to see more options? Check out our list of the best CD rates overall
No-penalty CDs offer more freedom
When you withdraw your money from a CD before the term expires, you generally pay a penalty of at least several months’ of interest earned.
Some providers, however, allow you to withdraw your money before the term expires, with no penalty. Keep in mind that rates may be a little lower for these no-penalty CDs.
The following three banks offer no-penalty CDs:
- Marcus by Goldman Sachs Bank (read NerdWallet's full review)
- CIT Bank (read NerdWallet's full review)
- Ally Bank (read NerdWallet's full review)
NerdWallet's best 1-year CD rates December 2019
- Connexus Credit Union: 2.01% APY.
- Barclays: 2.00% APY.
- Capital One: 2.10% APY.
- First Tech Federal Credit Union: 2.10% APY.
- Sallie Mae Bank: 2.10% APY.
- Citizens Access: 2.10% APY.
- TIAA Bank: 2.10% APY.
- Alliant Credit Union: 1.95% APY.
- PurePoint Financial: 1.95% APY.
- Ally Bank: 2.00% APY.
- Bank5 Connect: 2.00% APY.
- Marcus by Goldman Sachs: 2.05% APY.
- Synchrony: 2.00% APY.
- Discover: 2.00% APY.
Last updated on December 1, 2019
Methodology
We took a close look at over 70 financial institutions, including the largest U.S. banks based on assets, debit card volume, internet search traffic and other factors; the nation’s largest credit unions, based on deposits as well as broad-based membership requirements; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more; we favored those with the highest CD rates. We excluded banks that offered brokered CDs, since those accounts work differently from standard bank CDs. Higher rates might be available elsewhere. Financial institutions surveyed include: Alaska USA Federal Credit Union, Alliant Credit Union, Ally Bank, America First Credit Union, American Express, Aspiration, Associated Bank, Axos Bank, Bank5 Connect, Bank7, Bank of America, Bank of the West, Barclays, BB&T, BBVA, Boeing Employees Credit Union, BMO Harris, Capital One 360, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT, Citibank, Citizens Access, Citizens Bank, Comerica Bank, Commerce Bank, Connexus Credit Union, Consumers Credit Union, Discover Bank, E-Trade, Fidelity, Fifth Third Bank, First National Bank, First Tech Federal Credit Union, GoBank, Golden 1 Credit Union, GS Bank, HSBC Bank USA, Huntington Bank, KeyBank, M&T Bank, Moven, Navy Federal Credit Union, Pentagon Federal Credit Union, PNC, Popular Direct, PurePoint Financial, Radius Bank, Redneck Bank, Regions Bank, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit Union, Simple, State Employees’ Credit Union of North Carolina, State Farm Bank, Suncoast Credit Union, SunTrust Bank, Synchrony Bank, TCF Bank, TD Bank, TIAA Bank, Union Bank, UFB Direct, USAA, U.S. Bank, Varo, Vio Bank, Wells Fargo and Zions Bank.
To recap our selections...
NerdWallet's Best 1-Year CD Rates December 2019
- Goldman Sachs Bank USA: 2.05% APY
- Discover Bank: 2.00% APY
- Connexus Credit Union: 2.01% APY
- Citizens Access: 2.10% APY
- Barclays: 2.00% APY
- Ally Bank: 2.00% APY
- Synchrony Bank: 2.00% APY
- TIAA Bank: 2.10% APY
- Alliant Credit Union: 1.95% APY
- Sallie Mae Bank: 2.10% APY
- Capital One: 2.10% APY
- First Tech Federal Credit Union: 2.10% APY
- PurePoint® Financial: 1.95% APY
- Bank5 Connect: 2.00% APY
Frequently asked questions
A CD, or certificate of deposit, is a type of savings account that keeps money locked up for a set period or term, generally three months to five years. The longer the CD term, the higher the rate. See this month’s top rates.
CD rates are quoted as an annual percentage yield, or APY, which is how much the account earns in one year including compound interest. Banks generally compound interest monthly or daily.
» See what CDs can earn you with our CD calculator
You should only get a CD if you know you won’t need those funds during its term. Pulling money out of a CD before its expiration date will likely result in an early withdrawal fee, which is typically a percentage of the interest earned. (You can find even shorter terms such as six-month CDs too.)
» Thinking of a longer term for higher yields? Check out the best three-year CD rates
It depends on what's more important to you: rates or access to your money. The current CD rates tend to be higher than the best savings account rates, but you sacrifice access to money in CDs. If that doesn't work for you, check out our list of best online savings accounts.
It depends on the level of risk you want to take. Investment, or brokerage, accounts can have higher returns than CDs, but CDs guarantee returns. They're typically federally insured for up to $250,000 and offer fixed interest rates. Brokerage accounts can be riskier, since you aren’t protected against losses. See this month’s top rates for 1-year CDs.
