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14 Best 1-Year CD Rates December 2019

Spencer TierneyDecember 1, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Summary of Best 1-Year CD Rates December 2019

BankAPYMinimum DepositLearn More
Goldman Sachs Bank USA

Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

Member, FDIC

2.05%

$500

at Goldman Sachs Bank USA,

Member, FDIC

Discover Bank

Discover Bank

at Discover Bank,

Member, FDIC

2.00%

$2,500

at Discover Bank,

Member, FDIC

Connexus Credit Union

Connexus Credit Union

2.01%

$5,000

Citizens Access

Citizens Access

2.10%

$5,000

Barclays

Barclays

2.00%

$0

Ally Bank

Ally Bank

2.00%

$0

Synchrony Bank

Synchrony Bank

2.00%

$2,000

TIAA Bank

TIAA Bank

2.10%

$5,000

Alliant Credit Union

Alliant Credit Union

1.95%

$1,000

Sallie Mae Bank

Sallie Mae Bank

2.10%

$2,500

Capital One

Capital One

2.10%

$0

First Tech Federal Credit Union

First Tech Federal Credit Union

2.10%

$500

PurePoint® Financial

PurePoint® Financial

1.95%

$10,000

Bank5 Connect

Bank5 Connect

2.00%

$500

BankAPYMinimum DepositLearn More
Goldman Sachs Bank USA

Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

Member, FDIC

2.05%

$500

at Goldman Sachs Bank USA,

Member, FDIC

Discover Bank

Discover Bank

at Discover Bank,

Member, FDIC

2.00%

$2,500

at Discover Bank,

Member, FDIC

Connexus Credit Union

Connexus Credit Union

2.01%

$5,000

Citizens Access

Citizens Access

2.10%

$5,000

Barclays

Barclays

2.00%

$0

Ally Bank

Ally Bank

2.00%

$0

Synchrony Bank

Synchrony Bank

2.00%

$2,000

TIAA Bank

TIAA Bank

2.10%

$5,000

Alliant Credit Union

Alliant Credit Union

1.95%

$1,000

Sallie Mae Bank

Sallie Mae Bank

2.10%

$2,500

Capital One

Capital One

2.10%

$0

First Tech Federal Credit Union

First Tech Federal Credit Union

2.10%

$500

PurePoint® Financial

PurePoint® Financial

1.95%

$10,000

Bank5 Connect

Bank5 Connect

2.00%

$500

Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

Member, FDIC

Goldman Sachs Bank USA

Goldman Sachs Bank USA

APY

2.05%

With $500 minimum balance

Minimum Balance

$500

Member, FDIC

at Goldman Sachs Bank USA,

Member, FDIC


Why we like it

The Wall Street firm's online bank offers a competitive rate for its 12-month CD term with a low minimum requirement.

Read Full Review
Discover Bank

at Discover Bank,

Member, FDIC

Discover Bank

Discover Bank

APY

2.00%

With $2500 minimum balance

Minimum Balance

$2,500

Member, FDIC

at Discover Bank,

Member, FDIC


Why we like it

You can find competitive CD rates at Discover, though its deposit requirement is somewhat higher than at some banks.

Read Full Review

Connexus Credit Union

Connexus Credit Union

APY

2.01%

With $5000 minimum balance

Minimum Balance

$5,000

Member, NCUA


Why we like it

Connexus Credit Union offers a competitive 12-month rate, though its minimum is higher than some other online banks. Anyone can join with a one-time $5 donation to its partner nonprofit, Connexus Association.

Read Full Review

Citizens Access

Citizens Access

APY

2.10%

With $5000 minimum balance

Minimum Balance

$5,000

Member, FDIC


Why we like it

Citizens Access, Citizens Bank's new online division, has some of the highest rates for savings accounts and CDs. The minimum amount to open is hefty for both, though.

Read Full Review

Barclays

Barclays

APY

2.00%

With $0 minimum balance

Minimum Balance

$0

Member, FDIC


Why we like it

The online bank offers a solid combo: no minimum and a high one-year rate.

Read Full Review

Ally Bank

Ally Bank

APY

2.00%

With $0 minimum balance

Minimum Balance

$0

Member, FDIC


Why we like it

Ally boasts a competitive rate and lets you open with any amount.

Read Full Review

Synchrony Bank

Synchrony Bank

APY

2.00%

With $2000 minimum balance

Minimum Balance

$2,000

Member, FDIC


Why we like it

Synchrony requires a high minimum but earns a great rate and has no monthly fee.

Read Full Review

TIAA Bank

TIAA Bank

APY

2.10%

With $5000 minimum balance

Minimum Balance

$5,000

Member, FDIC


Why we like it

The online bank has competitive rates for a range of its CDs, though it requires a high opening minimum.

Read Full Review

Alliant Credit Union

Alliant Credit Union

APY

1.95%

With $1000 minimum balance

Minimum Balance

$1,000

Member, NCUA


Why we like it

The online-focused credit union has a high 12-month CD rate and lower opening minimum than some competitors.

Read Full Review

Sallie Mae Bank

Sallie Mae Bank

APY

2.10%

With $2500 minimum balance

Minimum Balance

$2,500

Member, FDIC


Why we like it

Student loan provider Sallie Mae has one-year CDs with high rates, though its minimum is higher than at some online banks.

Read Full Review

Capital One

Capital One

APY

2.10%

With $0 minimum balance

Minimum Balance

$0

Member, FDIC


Why we like it

Capital One has an impressive array of high-yield CDs, including its 12-month term, and there's no minimum to open.

Read Full Review

First Tech Federal Credit Union

First Tech Federal Credit Union

APY

2.10%

With $500 minimum balance

Minimum Balance

$500

Member, NCUA


Why we like it

First Tech Federal has a competitive one-year rate at a lower minimum deposit than many banks.

Read Full Review

PurePoint® Financial

PurePoint® Financial

APY

1.95%

With $10000 minimum balance

Minimum Balance

$10,000

Member, FDIC


Why we like it

PurePoint, online division of Union Bank, offers a stellar rate for its one-year CD, though it also has one of the highest minimums.

Read Full Review

Bank5 Connect

Bank5 Connect

APY

2.00%

With $500 minimum balance

Minimum Balance

$500

Member, FDIC


Why we like it

Bank5 Connect, an online bank division of Massachusetts-based BankFive, offers a competitive one-year CD rate and low minimum to open.

Read Full Review

» 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:

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 UnionAlliant Credit UnionAlly BankAmerica First Credit UnionAmerican ExpressAspirationAssociated BankAxos BankBank5 Connect, Bank7, Bank of AmericaBank of the WestBarclays, BB&T, BBVABoeing Employees Credit Union, BMO HarrisCapital One 360Charles Schwab BankChaseChimeCIBC U.S., CITCitibankCitizens AccessCitizens Bank, Comerica Bank, Commerce BankConnexus Credit UnionConsumers Credit UnionDiscover Bank, E-Trade, FidelityFifth Third BankFirst National BankFirst Tech Federal Credit UnionGoBankGolden 1 Credit UnionGS BankHSBC Bank USAHuntington BankKeyBankM&T BankMovenNavy Federal Credit UnionPentagon Federal Credit UnionPNC, Popular DirectPurePoint FinancialRadius Bank, Redneck Bank, Regions BankSallie Mae BankSantander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit UnionSimpleState Employees’ Credit Union of North CarolinaState Farm BankSuncoast Credit Union, SunTrust Bank, Synchrony BankTCF BankTD BankTIAA BankUnion BankUFB DirectUSAAU.S. BankVaro, Vio BankWells Fargo and Zions Bank.

To recap our selections...

NerdWallet's Best 1-Year CD Rates December 2019

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.