BEST OF - Virginia

17 Best 1-Year CD Rates for April 2024 (Up to 5.27%)

Spencer Tierney
By Spencer Tierney 
Edited by Sara Clarke

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The best one-year CD rates can help boost some of your short-term savings.

Why trust NerdWallet: Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our coverage to help you choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.

APY research methodology: The APYs shown are current as of the publication date of this page. Each weekday, we review account rates to make sure we have the most up-to-date APYs.

Rates featured on this page are far above the national average of 1.81% APY for one-year CDs. These rates apply to 12-month CDs starting when you open and fund them. Here's a list of our picks.

» Want to see a wider pool of high rates? See our list of the best high-interest accounts

APYs shown are current as of April 12, 2024. All other information is current as of March 25, 2024.

🤓Nerdy Tip

Some banks have started lowering CD yields, though overall rates remain high. With a CD, you can lock in high rates while they’re still around.

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Best 1-Year CD Rates for April 2024 (Up to 5.27%)

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Just answer a few questions to compare bank accounts that meet your needs.

Our pick for

1-Year CD Rates

NerdWallet rating 

5.0

/5
Barclays Online CD
Learn more

at Barclays, Member FDIC

Minimum deposit

$0

Member FDIC

APY

5.00%

NerdWallet rating 

5.0

/5
Alliant Credit Union Certificate
Minimum deposit

$1,000

Federally insured by NCUA

APY

5.15%

NerdWallet rating 

5.0

/5
Bread Savings™️ CD
Minimum deposit

$1,500

Member FDIC

APY

5.25%

NerdWallet rating 

5.0

/5
BMO Alto Certificate of Deposit
Learn more

at BMO Alto, Deposits are FDIC Insured

Minimum deposit

$0

Deposits are FDIC Insured

APY

5.05%

NerdWallet rating 

5.0

/5
Quontic Bank CD
Minimum deposit

$500

Member FDIC

APY

4.50%

NerdWallet rating 

2.5

/5
Bask Bank CD
Minimum deposit

$1,000

Member FDIC

APY

5.20%

NerdWallet rating 

4.0

/5
TAB Bank CD
Minimum deposit

$1,000

Member FDIC

APY

5.27%

NerdWallet rating 

3.0

/5
Live Oak Bank CD
Minimum deposit

$2,500

Member FDIC

APY

5.00%

NerdWallet rating 

3.0

/5
BrioDirect High-Yield CD
Minimum deposit

$500

Deposits are FDIC Insured

APY

5.00%

NerdWallet rating 

3.0

/5
Service Credit Union Share Certificate
Minimum deposit

$500

Federally insured by NCUA

APY

5.10%

NerdWallet rating 

4.0

/5
LendingClub CD
Minimum deposit

$2,500

Member FDIC

APY

5.15%

NerdWallet rating 

4.0

/5
Connexus Credit Union Certificate
Minimum deposit

$5,000

Federally insured by NCUA

APY

5.01%

NerdWallet rating 

3.5

/5
Vio Bank CD
Minimum deposit

$500

Member FDIC

APY

5.00%

NerdWallet rating 

3.0

/5
Ivy Bank CD
Minimum deposit

$1,000

Member FDIC

APY

5.00%

NerdWallet rating 

4.0

/5
Andrews Federal Credit Union Fixed Rate Share Certificates
Minimum deposit

$1,000

Federally insured by NCUA

APY

5.00%

NerdWallet rating 

3.0

/5
Citizens Online CD
Minimum deposit

$5,000

Member FDIC

APY

5.00%

Want to compare more options? Here are our other top picks:

» Want to see more options? Check out our list of the best CD rates overall

What is a 1-year CD?

A 1-year CD, or certificate of deposit, is a type of savings account that keeps money locked up for 12 months at a fixed rate. (You can find even shorter terms, such as six-month CDs.)

Best 1-year CD rates for April 2024

  • BMO Alto: 5.05% APY, no minimum to open.

  • Bread Savings: 5.25% APY, $1,500 minimum to open.

  • Popular Direct: 5.15% APY, $10,000 minimum to open.

  • Bask Bank: 5.20% APY, $1,000 minimum to open.

  • Quontic Bank: 4.50% APY, $500 minimum to open.

  • TAB Bank: 5.27% APY, $1,000 minimum to open.

  • Barclays: 5.00% APY, no minimum to open.

  • Live Oak Bank: 5.00% APY, $2,500 minimum to open.

  • BrioDirect: 5.00% APY, $500 minimum deposit.

  • Alliant Credit Union: 5.15% APY, $1,000 minimum deposit.

  • Service Credit Union: 5.10% APY, $500 minimum deposit.

  • LendingClub Bank: 5.15% APY, $500 minimum deposit.

  • Connexus Credit Union: 5.01% APY, $5,000 minimum deposit.

  • Vio Bank: 5.00% APY, $500 minimum deposit.

  • Ivy Bank: 5.00% APY, $1,000 minimum deposit.

  • Andrews Federal Credit Union: 5.00% APY, $1,000 minimum deposit.

  • Citizens: 5.00% APY, $5,000 minimum deposit.

» Thinking of a longer term for higher yields? Check out the best three-year CD rates

What's involved in opening a CD?

You'll need to decide on what term and type of CD to get and whether to open a single or joint account. To see all five steps, check out this guide to opening a CD account.

Are CDs safe?

Yes. Most banks and credit unions insure your money in a CD up to $250,000 per person per account type, such as single-owned and joint accounts. Plus, your returns are guaranteed as long as you don’t withdraw early, in which case you may have to pay a penalty. For more details, see our article on the safety of CDs.

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 (click each link to read the full review):

Last updated on April 12, 2024

Methodology

On a monthly basis, we compare rates at over 40 financial institutions, pulled from our full list, that we’ve seen to be consistently competitive. On a quarterly basis, we analyzed our full list, excluding banks that offered brokered CDs, since those accounts work differently from standard bank CDs. Higher rates might be available elsewhere.

We took a close look at over 90 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; 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.

Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Amalgamated Bank, America First Credit Union, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Bank7, Barclays, Bask Bank, Bethpage Federal Credit Union, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Carver Federal Savings Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Climate First Bank, Commerce Bank, Community First Credit Union of Florida, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Delta Community Credit Union, Discover® Bank, E*TRADE, EverBank (formerly TIAA Bank), Fifth Third Bank, First Foundation, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, Global Credit Union, GO2bank, Golden 1 Credit Union, Greenwood, Hope Credit Union, Huntington Bank, Industrial Bank, Ivy Bank, Jenius Bank, KeyBank, Lake Michigan Credit Union, Laurel Road Bank, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo and Zynlo Bank.

To recap our selections...

NerdWallet's Best 1-Year CD Rates for April 2024 (Up to 5.27%)

Frequently asked questions