Best of
16 Best 5-Year CD Rates January 2020
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Summary of Best 5-Year CD Rates January 2020
| Bank | APY | Minimum Deposit | Learn More |
|---|---|---|---|
 Goldman Sachs Bank USA at Goldman Sachs Bank USA, Member, FDIC | 2.25% | $500 | at Goldman Sachs Bank USA, Member, FDIC |
 Citizens Access at Citizens Access, Member, FDIC | 2.25% | $5,000 | at Citizens Access, Member, FDIC |
 Barclays | 2.10% | $0 | |
 PurePoint® Financial | 2.05% | $10,000 | |
 Popular Direct | 2.26% | $10,000 | |
 Sallie Mae Bank | 2.20% | $2,500 | |
 Ally Bank | 2.15% | $0 | |
 First Tech Federal Credit Union | 2.20% | $500 | |
 TIAA Bank | 2.10% | $5,000 | |
 Synchrony Bank | 2.15% | $2,000 | |
 Alliant Credit Union | 2.05% | $1,000 | |
 Connexus Credit Union | 2.41% | $5,000 | |
 Consumers Credit Union | 2.15% | $250 | |
 Radius Bank at Radius Bank, Member, FDIC | 2.20% | $500 | at Radius Bank, Member, FDIC |
 American Express National Bank | 2.15% | $0 | |
 Discover Bank at Discover Bank, Member, FDIC | 2.10% | $2,500 | at Discover Bank, Member, FDIC |
| Bank | APY | Minimum Deposit | Learn More |
|---|---|---|---|
Goldman Sachs Bank USA at Goldman Sachs Bank USA, Member, FDIC | 2.25% | $500 | at Goldman Sachs Bank USA, Member, FDIC |
Citizens Access at Citizens Access, Member, FDIC | 2.25% | $5,000 | at Citizens Access, Member, FDIC |
Barclays | 2.10% | $0 | |
PurePoint® Financial | 2.05% | $10,000 | |
Popular Direct | 2.26% | $10,000 | |
Sallie Mae Bank | 2.20% | $2,500 | |
Ally Bank | 2.15% | $0 | |
First Tech Federal Credit Union | 2.20% | $500 | |
TIAA Bank | 2.10% | $5,000 | |
Synchrony Bank | 2.15% | $2,000 | |
Alliant Credit Union | 2.05% | $1,000 | |
Connexus Credit Union | 2.41% | $5,000 | |
Consumers Credit Union | 2.15% | $250 | |
Radius Bank at Radius Bank, Member, FDIC | 2.20% | $500 | at Radius Bank, Member, FDIC |
American Express National Bank | 2.15% | $0 | |
Discover Bank at Discover Bank, Member, FDIC | 2.10% | $2,500 | at Discover Bank, Member, FDIC |
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 Citizens Access,
Member, FDIC
Citizens Access
APY
With $5000 minimum balance
Minimum Balance
Member, FDIC
at Citizens Access,
Member, FDIC
Barclays
APY
With $0 minimum balance
Minimum Balance
Member, FDIC
PurePoint® Financial
APY
With $10000 minimum balance
Minimum Balance
Member, FDIC
Popular Direct
APY
With $10000 minimum balance
Minimum Balance
Member, FDIC
Sallie Mae Bank
APY
With $2500 minimum balance
Minimum Balance
Member, FDIC
Ally Bank
APY
With $0 minimum balance
Minimum Balance
Member, FDIC
First Tech Federal Credit Union
APY
With $500 minimum balance
Minimum Balance
Member, NCUA
TIAA Bank
APY
With $5000 minimum balance
Minimum Balance
Member, FDIC
Synchrony Bank
APY
With $2000 minimum balance
Minimum Balance
Member, FDIC
Alliant Credit Union
APY
With $1000 minimum balance
Minimum Balance
Member, NCUA
Connexus Credit Union
APY
With $5000 minimum balance
Minimum Balance
Member, NCUA
Consumers Credit Union
APY
With $250 minimum balance
Minimum Balance
Member, NCUA
at Radius Bank,
Member, FDIC
Radius Bank
APY
With $500 minimum balance
Minimum Balance
Member, FDIC
at Radius Bank,
Member, FDIC
American Express National Bank
APY
With $0 minimum balance
Minimum Balance
Member, FDIC
at Discover Bank,
Member, FDIC
Discover Bank
APY
With $2500 minimum balance
Minimum Balance
Member, FDIC
at Discover Bank,
Member, FDIC
» Want to see more options? Check out our list of the best CD rates overall
NerdWallet's best 5-year CD rates January 2020
- Best Overall: Connexus Credit Union: 2.41% APY.
- High Rate: Citizens Access: 2.25% APY.
- High Rate: First Tech Federal Credit Union: 2.20% APY.
- High Rate: Sallie Mae Bank: 2.20% APY.
- High Rate: TIAA Bank: 2.10% APY.
- High Rate: Radius Bank: 2.20% APY.
- High Rate: Ally Bank: 2.15% APY.
- High Rate: American Express Bank: 2.15% APY.
- High Rate: Consumers Credit Union: 2.15% APY.
- High Rate: Marcus by Goldman Sachs: 2.25% APY.
- High Rate: Synchrony Bank: 2.15% APY.
- High Rate: Popular Direct: 2.26% APY.
- High Rate: Barclays: 2.10% APY.
- High Rate: Alliant Credit Union: 2.05% APY.
- High Rate: Discover Bank: 2.10% APY.
- High Rate: PurePoint Financial: 2.05% APY.
Last updated on January 2, 2020
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 5-Year CD Rates January 2020
- Goldman Sachs Bank USA: 2.25% APY
- Citizens Access: 2.25% APY
- Barclays: 2.10% APY
- PurePoint® Financial: 2.05% APY
- Popular Direct: 2.26% APY
- Sallie Mae Bank: 2.20% APY
- Ally Bank: 2.15% APY
- First Tech Federal Credit Union: 2.20% APY
- TIAA Bank: 2.10% APY
- Synchrony Bank: 2.15% APY
- Alliant Credit Union: 2.05% APY
- Connexus Credit Union: 2.41% APY
- Consumers Credit Union: 2.15% APY
- Radius Bank: 2.20% APY
- American Express National Bank: 2.15% APY
- Discover Bank: 2.10% APY
Frequently asked questions
In an environment with climbing interest rates, you might question putting your money in a long-term 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. (Keep in mind that shorter-term CDs can also be part of your saving strategy; consider the best six-month CD 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 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.
» Want to know more? Read our full article on whether CDs are worth it
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.
