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13 Best 5-Year CD Rates October 2019
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Summary of Best 5-Year CD Rates October 2019
| 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 |
 Discover at Discover, Member, FDIC | 2.30% | $2,500 | at Discover, Member, FDIC |
 Barclays | 2.20% | $0 | |
 PurePoint® Financial | 2.25% | $10,000 | |
 Popular Direct | 2.30% | $10,000 | |
 Sallie Mae Bank | 2.35% | $2,500 | |
 Ally Bank | 2.30% | $0 | |
 First Tech Federal Credit Union | 2.40% | $500 | |
 TIAA Bank | 2.35% | $5,000 | |
 Citizens Access | 2.45% | $5,000 | |
 Synchrony Bank | 2.45% | $2,000 | |
 Alliant Credit Union | 2.30% | $1,000 | |
 Connexus Credit Union | 2.60% | $5,000 |
| 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 |
Discover at Discover, Member, FDIC | 2.30% | $2,500 | at Discover, Member, FDIC |
Barclays | 2.20% | $0 | |
PurePoint® Financial | 2.25% | $10,000 | |
Popular Direct | 2.30% | $10,000 | |
Sallie Mae Bank | 2.35% | $2,500 | |
Ally Bank | 2.30% | $0 | |
First Tech Federal Credit Union | 2.40% | $500 | |
TIAA Bank | 2.35% | $5,000 | |
Citizens Access | 2.45% | $5,000 | |
Synchrony Bank | 2.45% | $2,000 | |
Alliant Credit Union | 2.30% | $1,000 | |
Connexus Credit Union | 2.60% | $5,000 |
at Goldman Sachs Bank USA,
Member, FDIC
at Goldman Sachs Bank USA,
Member, FDIC
APY
2.25%
Minimum Deposit
$500
at Discover,
Member, FDIC
at Discover,
Member, FDIC
APY
2.30%
Minimum Deposit
$2,500
APY
2.20%
Minimum Deposit
$0
APY
2.25%
Minimum Deposit
$10,000
APY
2.30%
Minimum Deposit
$10,000
APY
2.35%
Minimum Deposit
$2,500
APY
2.30%
Minimum Deposit
$0
APY
2.40%
Minimum Deposit
$500
APY
2.35%
Minimum Deposit
$5,000
APY
2.45%
Minimum Deposit
$5,000
APY
2.45%
Minimum Deposit
$2,000
APY
2.30%
Minimum Deposit
$1,000
APY
2.60%
Minimum Deposit
$5,000
» Want to see more options? Check out our list of the best CD rates overall
Last updated on October 1, 2019
Methodology
We featured easy-to-join financial institutions that we've reviewed with the highest CD rates currently listed in NerdWallet's CD rates tool for 5-year CDs. For the ZIP code and minimum deposit requirement, we used 94103 and $5,000, respectively. We also included select, standout rates from other trusted online financial institutions that we have reviewed. Higher rates might be available elsewhere.
To recap our selections...
NerdWallet's Best 5-Year CD Rates October 2019
- Goldman Sachs Bank USA: 2.25% APY
- Discover: 2.30% APY
- Barclays: 2.20% APY
- PurePoint® Financial: 2.25% APY
- Popular Direct: 2.30% APY
- Sallie Mae Bank: 2.35% APY
- Ally Bank: 2.30% APY
- First Tech Federal Credit Union: 2.40% APY
- TIAA Bank: 2.35% APY
- Citizens Access: 2.45% APY
- Synchrony Bank: 2.45% APY
- Alliant Credit Union: 2.30% APY
- Connexus Credit Union: 2.60% 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.
