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16 Best 5-Year CD Rates for November 2024

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Written by Spencer Tierney
Senior Writer
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Edited by Sara Clarke
Assistant Assigning Editor
Fact Checked

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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.

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.

More than 90 financial institutions surveyed by our team of experts.

More than 50 data points considered for each bank and credit union to be eligible for our lists. For this CD list, three data points were considered per institution.

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.

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.

More than 90 financial institutions surveyed by our team of experts.

More than 50 data points considered for each bank and credit union to be eligible for our lists. For this CD list, three data points were considered per institution.

🤓Nerdy Tip

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

NerdWallet rating 

4.4

/5
Bread Savings™️ CD
Learn more

at Bread Savings, Member FDIC

Minimum deposit

$1,500

Member FDIC

APY

3.50%

Why We Like It

Bread Savings offers an attractive rate on its CD, though the minimum is somewhat high.

NerdWallet rating 

4.2

/5
Alliant Credit Union Certificate
Learn more

at Alliant Credit Union, Federally insured by NCUA

Minimum deposit

$1,000

Federally insured by NCUA

APY

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.

NerdWallet rating 

4.5

/5
BMO Alto Certificate of Deposit
Minimum deposit

$0

Deposits are FDIC Insured

APY

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.

NerdWallet rating 

4.8

/5
Marcus by Goldman Sachs High-Yield CD
Minimum deposit

$500

Member FDIC

APY

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.

NerdWallet rating 

4.7

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

$1,000

Federally insured by NCUA

APY

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.

NerdWallet rating 

4.2

/5
EverBank Performance℠ CD
Minimum deposit

$1,000

Member FDIC

APY

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.

NerdWallet rating 

4.4

/5
NASA Federal Credit Union Share Certificate
Minimum deposit

$1,000

Federally insured by NCUA

APY

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.

NerdWallet rating 

3.9

/5
First Internet Bank CD
Minimum deposit

$1,000

Member FDIC

APY

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.

NerdWallet rating 

3.6

/5
Customers Bank CD
Minimum deposit

$500

APY

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.

NerdWallet rating 

3.8

/5
E*TRADE CD
Minimum deposit

$0

Member FDIC

APY

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.

NerdWallet rating 

4.5

/5
Connexus Credit Union Certificate
Minimum deposit

$5,000

Federally insured by NCUA

APY

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.

A green bank that has a coin slot at the top where a hand is depositing a coin.

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.

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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.

Frequently asked questions