Best of

13 Best 5-Year CD Rates October 2019

Spencer TierneyOctober 1, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Summary of Best 5-Year CD Rates October 2019

BankAPYMinimum DepositLearn More
Goldman Sachs Bank USA

Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

Member, FDIC

2.25%

$500

at Goldman Sachs Bank USA,

Member, FDIC

Discover

Discover

at Discover,

Member, FDIC

2.30%

$2,500

at Discover,

Member, FDIC

Barclays

Barclays

2.20%

$0

PurePoint® Financial

PurePoint® Financial

2.25%

$10,000

Popular Direct

Popular Direct

2.30%

$10,000

Sallie Mae Bank

Sallie Mae Bank

2.35%

$2,500

Ally Bank

Ally Bank

2.30%

$0

First Tech Federal Credit Union

First Tech Federal Credit Union

2.40%

$500

TIAA Bank

TIAA Bank

2.35%

$5,000

Citizens Access

Citizens Access

2.45%

$5,000

Synchrony Bank

Synchrony Bank

2.45%

$2,000

Alliant Credit Union

Alliant Credit Union

2.30%

$1,000

Connexus Credit Union

Connexus Credit Union

2.60%

$5,000

BankAPYMinimum DepositLearn More
Goldman Sachs Bank USA

Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

Member, FDIC

2.25%

$500

at Goldman Sachs Bank USA,

Member, FDIC

Discover

Discover

at Discover,

Member, FDIC

2.30%

$2,500

at Discover,

Member, FDIC

Barclays

Barclays

2.20%

$0

PurePoint® Financial

PurePoint® Financial

2.25%

$10,000

Popular Direct

Popular Direct

2.30%

$10,000

Sallie Mae Bank

Sallie Mae Bank

2.35%

$2,500

Ally Bank

Ally Bank

2.30%

$0

First Tech Federal Credit Union

First Tech Federal Credit Union

2.40%

$500

TIAA Bank

TIAA Bank

2.35%

$5,000

Citizens Access

Citizens Access

2.45%

$5,000

Synchrony Bank

Synchrony Bank

2.45%

$2,000

Alliant Credit Union

Alliant Credit Union

2.30%

$1,000

Connexus Credit Union

Connexus Credit Union

2.60%

$5,000

Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

Member, FDIC

at Goldman Sachs Bank USA,

Member, FDIC

APY

2.25%

Minimum Deposit

$500

Discover

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

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.)

See this month’s top rates for 5-year 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.

» 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.

See this month’s top rates for 5-year CDs.