17 Best 1-Year CD Rates for April 2024 (Up to 5.27%)
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ALSO CONSIDER: Best online savings || Best checking || Best high-interest accounts
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 18, 2024. All other information is current as of March 25, 2024.
ALSO CONSIDER: Best online savings || Best checking || Best high-interest accounts
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 18, 2024. All other information is current as of March 25, 2024.
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.
Best 1-Year CD Rates for April 2024 (Up to 5.27%)
Bank/institution | NerdWallet rating | Minimum deposit | APY | Learn more |
---|---|---|---|---|
Barclays Online CD Learn more at Barclays, Member FDIC | Best for 1-Year CD Rates | $0 Member FDIC | APY 5.00% | Learn more at Barclays, Member FDIC |
Alliant Credit Union Certificate Learn more at Alliant Credit Union, Federally insured by NCUA | Best for 1-Year CD Rates | $1,000 Federally insured by NCUA | APY 5.15% | Learn more at Alliant Credit Union, Federally insured by NCUA |
Bask Bank CD Learn more at Bask Bank, Member FDIC | Best for 1-Year CD Rates | $1,000 Member FDIC | APY 5.20% | Learn more at Bask Bank, Member FDIC |
BMO Alto Certificate of Deposit Learn more at BMO Alto, Deposits are FDIC Insured | Best for 1-Year CD Rates | $0 Deposits are FDIC Insured | APY 5.05% | Learn more at BMO Alto, Deposits are FDIC Insured |
Popular Direct CD | Best for 1-Year CD Rates | $10,000 Member FDIC | APY 5.15% | Read review |
Quontic Bank CD | Best for 1-Year CD Rates | $500 Member FDIC | APY 4.50% | Read review |
Bread Savings™️ CD | Best for 1-Year CD Rates | $1,500 Member FDIC | APY 5.25% | Read review |
TAB Bank CD | Best for 1-Year CD Rates | $1,000 Member FDIC | APY 5.27% | Read review |
Live Oak Bank CD | Best for 1-Year CD Rates | $2,500 Member FDIC | APY 5.00% | Read review |
BrioDirect High-Yield CD | Best for 1-Year CD Rates | $500 Deposits are FDIC Insured | APY 5.00% | Read review |
Service Credit Union Share Certificate | Best for 1-Year CD Rates | $500 Federally insured by NCUA | APY 5.10% | Read review |
LendingClub CD | Best for 1-Year CD Rates | $2,500 Member FDIC | APY 5.15% | Read review |
Connexus Credit Union Certificate | Best for 1-Year CD Rates | $5,000 Federally insured by NCUA | APY 5.01% | Read review |
Vio Bank CD | Best for 1-Year CD Rates | $500 Member FDIC | APY 5.00% | Read review |
Ivy Bank CD | Best for 1-Year CD Rates | $1,000 Member FDIC | APY 5.00% | Read review |
Andrews Federal Credit Union Fixed Rate Share Certificates | Best for 1-Year CD Rates | $1,000 Federally insured by NCUA | APY 5.00% | Read review |
Citizens Online CD | Best for 1-Year CD Rates | $5,000 Member FDIC | APY 5.00% | Read review |
Our pick for
1-Year CD Rates
$0
Member FDIC
5.00%
Why We Like It
Barclays offers solid online CD rates for one-year terms and longer, with no opening minimum requirement.
$1,000
Federally insured by NCUA
5.15%
Why We Like It
The online-focused Alliant Credit Union has strong rates and a lower opening minimum than some competitors. Membership is open nationwide to anyone who agrees to be an advocate of the Alliant Credit Union Foundation, which involves the credit union making a $5 contribution on your behalf.
$1,000
Member FDIC
5.20%
Why We Like It
Bask Bank is the online-only bank division of Texas Capital Bank. Its one-year CD has a competitive rate and a somewhat low minimum of $1,000.
$0
Deposits are FDIC Insured
5.05%
Why We Like It
BMO Alto is the online-only division of BMO with a competitive one-year CD rate and no minimum deposit requirement.
$500
Member FDIC
4.50%
Why We Like It
Quontic Bank is a digital bank with a low minimum of $500 and a competitive rate on its one-year CD.
$1,500
Member FDIC
5.25%
Why We Like It
Bread Savings offers CDs with a somewhat high minimum of $1,500.
$1,000
Member FDIC
5.27%
Why We Like It
TAB Bank offers a competitive yield on its one-year CD and a somewhat low minimum of $1,000 to open.
$2,500
Member FDIC
5.00%
Why We Like It
Live Oak Bank offers online CDs with strong rates, though there's a somewhat high minimum requirement of $2,500.
$500
Deposits are FDIC Insured
5.00%
Why We Like It
BrioDirect is the online bank division of Webster Bank, a national bank based in Connecticut. BrioDirect offers a high rate on its one-year CD term with a low minimum deposit of $500.
$500
Federally insured by NCUA
5.10%
Why We Like It
Service Credit Union provides a 12-month share certificate with a competitive rate and a low opening minimum of $500. Anyone can join by becoming a member of the American Consumer Council, with a promo code to bypass the membership fee.
$2,500
Member FDIC
5.15%
Why We Like It
LendingClub Bank is an online financial institution with a competitive rate and a somewhat high opening minimum of $2,500 on its one-year CD.
$5,000
Federally insured by NCUA
5.01%
Why We Like It
Connexus Credit Union offers a 12-month rate with a $5,000 minimum that's higher than at some other online banks. Anyone can join with a one-time $5 donation to its partner nonprofit, Connexus Association.
$500
Member FDIC
5.00%
Why We Like It
Vio Bank, the online bank division of MidFirst Bank, has high-yield CDs with competitive rates and a low opening minimum of $500.
$1,000
Member FDIC
5.00%
Why We Like It
Online-only Ivy Bank has few CD terms but a competitive one-year CD and a somewhat low opening minimum of $1,000.
$1,000
Federally insured by NCUA
5.00%
Why We Like It
Andrews Federal Credit Union offers high-yield share certificates with a somewhat low minimum deposit requirement of $1,000. Membership is available to members of the military as well as anyone who joins the nonprofit American Consumer Council.
$5,000
Member FDIC
5.00%
Why We Like It
Citizens, Citizens Bank's online division, offers relatively high-yield CDs, but the minimum amount to open is hefty.
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):
Ally Bank® (Member FDIC).
See CD rates by term and type
Compare the best rates for various CD terms and types:
How do CDs work?
Learn more about choosing CDs, understanding CD rates, and opening and closing CDs.
For choosing CDs:
Last updated on April 18, 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%)
- Barclays Online CD: Best for 1-Year CD Rates, 5.00% APY
- Alliant Credit Union Certificate: Best for 1-Year CD Rates, 5.15% APY
- Bask Bank CD: Best for 1-Year CD Rates, 5.20% APY
- BMO Alto Certificate of Deposit: Best for 1-Year CD Rates, 5.05% APY
- Popular Direct CD: Best for 1-Year CD Rates, 5.15% APY
- Quontic Bank CD: Best for 1-Year CD Rates, 4.50% APY
- Bread Savings™️ CD: Best for 1-Year CD Rates, 5.25% APY
- TAB Bank CD: Best for 1-Year CD Rates, 5.27% APY
- Live Oak Bank CD: Best for 1-Year CD Rates, 5.00% APY
- BrioDirect High-Yield CD: Best for 1-Year CD Rates, 5.00% APY
- Service Credit Union Share Certificate: Best for 1-Year CD Rates, 5.10% APY
- LendingClub CD: Best for 1-Year CD Rates, 5.15% APY
- Connexus Credit Union Certificate: Best for 1-Year CD Rates, 5.01% APY
- Vio Bank CD: Best for 1-Year CD Rates, 5.00% APY
- Ivy Bank CD: Best for 1-Year CD Rates, 5.00% APY
- Andrews Federal Credit Union Fixed Rate Share Certificates: Best for 1-Year CD Rates, 5.00% APY
- Citizens Online CD: Best for 1-Year CD Rates, 5.00% APY
Frequently asked questions
You should only get a 1-year CD if you know you won’t need those funds for a year. 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. See this month’s top rates.
It depends on your savings goals and how sure you are that you won't need your funds before the CD term expires. Having to pay an early withdrawal penalty, generally up to one year's worth of interest, can be a blow to your savings. Common CD terms range from six months to five years; if you want to play it safe, go for a shorter CD term or a no-penalty CD.
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
It depends on what's more important to you: rates or access to your money. Some of 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.