16 Best 5-Year CD Rates for November 2024
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ALSO CONSIDER: Best online savings || Best checking || Best high-interest accounts
The best five-year CD rates tend to be much higher than the national average rate of 1.37% APY. These CDs can help you work toward your individual savings goals.
Why trust NerdWallet
ALSO CONSIDER: Best online savings || Best checking || Best high-interest accounts
The best five-year CD rates tend to be much higher than the national average rate of 1.37% APY. These CDs can help you work toward your individual savings goals.
Why trust NerdWallet
The Fed lowered its benchmark rate multiple times in the second half of 2024. As a result, banks and credit unions have started lowering CD rates. With a CD, you can lock in high rates while they’re still around.
Best 5-Year CD Rates
Bank/institution | NerdWallet rating | Minimum deposit | APY | Learn more |
---|---|---|---|---|
Bread Savings™️ CD Learn more at Bread Savings, Member FDIC | $1,500 Member FDIC | APY 3.50% | Learn more at Bread Savings, Member FDIC | |
Alliant Credit Union Certificate Learn more at Alliant Credit Union, Federally insured by NCUA | $1,000 Federally insured by NCUA | APY 3.65% | Learn more at Alliant Credit Union, Federally insured by NCUA | |
BMO Alto Certificate of Deposit | $0 Deposits are FDIC Insured | APY 4.00% | Read review | |
Ally Bank High Yield CD | $0 Member FDIC | APY 3.50% | Read review | |
Popular Direct CD | $10,000 Member FDIC | APY 3.35% | Read review | |
Synchrony Bank CD | $0 Member FDIC | APY 4.00% | Read review | |
Capital One 360 CD | $0 Member FDIC | APY 3.50% | Read review | |
Sallie Mae Bank CD | $2,500 Member FDIC | APY 3.75% | Read review | |
Marcus by Goldman Sachs High-Yield CD | $500 Member FDIC | APY 3.60% | Read review | |
Andrews Federal Credit Union Fixed Rate Share Certificates | $1,000 Federally insured by NCUA | APY 3.65% | Read review | |
EverBank Performance℠ CD | $1,000 Member FDIC | APY 3.50% | Read review | |
NASA Federal Credit Union Share Certificate | $1,000 Federally insured by NCUA | APY 3.85% | Read review | |
First Internet Bank CD | $1,000 Member FDIC | APY 3.67% | Read review | |
Customers Bank CD | $500 | APY 3.70% | Read review | |
E*TRADE CD | $0 Member FDIC | APY 3.50% | Read review | |
Connexus Credit Union Certificate | $5,000 Federally insured by NCUA | APY 3.50% | Read review |
$1,500
Member FDIC
3.50%
Why We Like It
Bread Savings offers an attractive rate on its CD, though the minimum is somewhat high.
$1,000
Federally insured by NCUA
3.65%
Why We Like It
The online-focused credit union has a lower minimum opening requirement than many online banks and a competitive yield.
$0
Deposits are FDIC Insured
4.00%
Why We Like It
BMO Alto is the online-only division of BMO with a competitive five-year CD rate and no minimum deposit requirement.
$500
Member FDIC
3.60%
Why We Like It
Goldman Sachs’ online-only consumer bank has a competitive APY on its five-year CD term and a low opening minimum of $500.
$1,000
Federally insured by NCUA
3.65%
Why We Like It
Andrews Federal Credit Union focuses on serving the military, but its membership is available to anyone nationwide. Its share certificates have competitive yields and the somewhat low minimum of $1,000.
$1,000
Member FDIC
3.50%
Why We Like It
EverBank has a wide range of CD terms with competitive yields. The minimum of $1,000 is somewhat low compared to other online banks.
$1,000
Federally insured by NCUA
3.85%
Why We Like It
NASA Federal Credit Union focuses on NASA employees but lets anyone join by agreeing to a free membership to the National Space Society. The credit union’s five-year share certificate has a competitive yield and a somewhat low opening minimum of $1,000.
$1,000
Member FDIC
3.67%
Why We Like It
First Internet Bank, one of the oldest online banks, has a strong rate for its five-year CD term and a somewhat low minimum deposit of $1,000.
$500
3.70%
Why We Like It
Customers Bank, a Pennsylvannia-based bank with a nationwide online presence, has a solid yield on its five-year CD and a low minimum deposit of $500.
$0
Member FDIC
3.50%
Why We Like It
The online trading platform E*TRADE, owned by Morgan Stanley Private Bank, has solid rates on bank CDs, including five-year terms. There’s no minimum deposit required.
$5,000
Federally insured by NCUA
3.50%
Why We Like It
Connexus Credit Union has a strong rate on its three-year share certificate, the CD equivalent for a credit union, though the opening minimum of $5,000 is high.
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
Best 5-year CD rates for November 2024
BMO Alto: 4.00% APY.
Popular Direct: 3.35% APY.
Andrews Federal Credit Union: 3.65% APY.
Alliant Credit Union: 3.65% APY.
Ally Bank: 3.50% APY.
Bread Savings: 3.50% APY.
Marcus by Goldman Sachs: 3.60% APY.
Capital One: 3.50% APY.
EverBank: 3.50% APY.
Synchrony Bank: 4.00% APY.
Sallie Mae Bank: 3.75% APY.
NASA Federal Credit Union: 3.85% APY.
First Internet Bank: 3.67% APY.
Customers Bank: 3.70% APY.
E*TRADE: 3.50% APY.
Connexus Credit Union: 3.50% APY.
5-year CD trends
NerdWallet picks’ average:
3.60% APY
National average:
1.37%
What to know about the best five-year CD rates right now
Find a good deal. A five-year rate around 4% APY is currently competitive. These rates tend to be at various online banks and credit unions.
Don’t sweat higher short-term rates. One lingering trend in the current rate environment is that five-year rates remain lower than shorter-term rates for national averages and high-yield CDs. Even though the best one-year CD rates are closer to 5%, remember that five-year CDs have longer periods to compound interest and can result in higher returns than one-year CDs, even if they have higher rates. Use our CD calculator to try out specific scenarios.
Use a CD ladder to benefit from five-year rates
If putting one sum into a single five-year CD sounds like a big decision, you can make things easier by considering a CD ladder instead. Put multiple CDs into terms of different lengths, and when each CD matures, you can consider reinvesting money into new five-year CDs over time. Learn more about CD ladders.
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.
Choosing CDs:
Last updated on November 1, 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, Barclays, Bask Bank, Bethpage Federal Credit Union, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Carver Federal Savings Bank, CFG 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, Customers Bank, Delta Community Credit Union, Discover® Bank, E*TRADE, EverBank (formerly TIAA Bank), Fifth Third Bank, First Foundation, First Internet Bank, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, Forbright Bank, 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, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, 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, Western Alliance Bank and Zynlo Bank.
To recap our selections...
NerdWallet's Best 5-Year CD Rates for November 2024
- Bread Savings™️ CD: 3.50% APY
- Alliant Credit Union Certificate: 3.65% APY
- BMO Alto Certificate of Deposit: 4.00% APY
- Ally Bank High Yield CD: 3.50% APY
- Popular Direct CD: 3.35% APY
- Synchrony Bank CD: 4.00% APY
- Capital One 360 CD: 3.50% APY
- Sallie Mae Bank CD: 3.75% APY
- Marcus by Goldman Sachs High-Yield CD: 3.60% APY
- Andrews Federal Credit Union Fixed Rate Share Certificates: 3.65% APY
- EverBank Performance℠ CD: 3.50% APY
- NASA Federal Credit Union Share Certificate: 3.85% APY
- First Internet Bank CD: 3.67% APY
- Customers Bank CD: 3.70% APY
- E*TRADE CD: 3.50% APY
- Connexus Credit Union Certificate: 3.50% APY
Frequently asked questions
In an environment with rising interest rates, you might question putting your money in a long-term CD such as a five-year, or 60-month, CD. But getting a CD can still make sense if you're trying to spread out your investments, guarantee yourself a risk-free return, or want to ensure you won't spend a sum of your savings for a few years. For more on what uses CDs provide, see this explainer on when to choose CDs.
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 with our CD calculator
You should get a CD only 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.
» Looking for a shorter term? Check out our list of 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.
» Learn more about CDs vs. regular 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.