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16 Best 5-Year CD Rates December 2019

Spencer TierneyDecember 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 December 2019

BankAPYMinimum DepositLearn More
Goldman Sachs Bank USA

Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

Member, FDIC

2.15%

$500

at Goldman Sachs Bank USA,

Member, FDIC

Barclays

Barclays

2.20%

$0

PurePoint® Financial

PurePoint® Financial

2.05%

$10,000

Popular Direct

Popular Direct

2.15%

$10,000

Sallie Mae Bank

Sallie Mae Bank

2.20%

$2,500

Ally Bank

Ally Bank

2.25%

$0

First Tech Federal Credit Union

First Tech Federal Credit Union

2.20%

$500

TIAA Bank

TIAA Bank

2.20%

$5,000

Citizens Access

Citizens Access

2.25%

$5,000

Synchrony Bank

Synchrony Bank

2.25%

$2,000

Alliant Credit Union

Alliant Credit Union

2.10%

$1,000

Connexus Credit Union

Connexus Credit Union

2.41%

$5,000

Consumers Credit Union

Consumers Credit Union

2.15%

$250

Axos Bank™

Axos Bank™

2.25%

$1,000

Radius Bank

Radius Bank

at Radius Bank,

Member, FDIC

2.20%

$500

at Radius Bank,

Member, FDIC

American Express National Bank

American Express National Bank

2.15%

$0

BankAPYMinimum DepositLearn More
Goldman Sachs Bank USA

Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

Member, FDIC

2.15%

$500

at Goldman Sachs Bank USA,

Member, FDIC

Barclays

Barclays

2.20%

$0

PurePoint® Financial

PurePoint® Financial

2.05%

$10,000

Popular Direct

Popular Direct

2.15%

$10,000

Sallie Mae Bank

Sallie Mae Bank

2.20%

$2,500

Ally Bank

Ally Bank

2.25%

$0

First Tech Federal Credit Union

First Tech Federal Credit Union

2.20%

$500

TIAA Bank

TIAA Bank

2.20%

$5,000

Citizens Access

Citizens Access

2.25%

$5,000

Synchrony Bank

Synchrony Bank

2.25%

$2,000

Alliant Credit Union

Alliant Credit Union

2.10%

$1,000

Connexus Credit Union

Connexus Credit Union

2.41%

$5,000

Consumers Credit Union

Consumers Credit Union

2.15%

$250

Axos Bank™

Axos Bank™

2.25%

$1,000

Radius Bank

Radius Bank

at Radius Bank,

Member, FDIC

2.20%

$500

at Radius Bank,

Member, FDIC

American Express National Bank

American Express National Bank

2.15%

$0

Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

Member, FDIC

Goldman Sachs Bank USA

Goldman Sachs Bank USA

APY

2.15%

With $500 minimum balance

Minimum Balance

$500

Member, FDIC

at Goldman Sachs Bank USA,

Member, FDIC


Why we like it

The online-only bank requires $500 to open one of its high-yield CDs, which is low for CD minimum opening requirements.

Read Full Review

Barclays

Barclays

APY

2.20%

With $0 minimum balance

Minimum Balance

$0

Member, FDIC


Why we like it

Barclays has solid rates. It also beats competitors by not having a minimum deposit requirement.

Read Full Review

PurePoint® Financial

PurePoint® Financial

APY

2.05%

With $10000 minimum balance

Minimum Balance

$10,000

Member, FDIC


Why we like it

PurePoint requires one of the highest minimums to open. Its rates are in line with some competitors.

Read Full Review

Popular Direct

Popular Direct

APY

2.15%

With $10000 minimum balance

Minimum Balance

$10,000

Member, FDIC


Why we like it

The online bank features a top-of-the-line rate for its five-year term, along with a steeper minimum balance requirement than most banks have.

Read Full Review

Sallie Mae Bank

Sallie Mae Bank

APY

2.20%

With $2500 minimum balance

Minimum Balance

$2,500

Member, FDIC


Why we like it

Student loan provider Sallie Mae has competitive rates for its online CDs, including its 5-year, though it requires an opening minimum that's higher than at some banks.

Read Full Review

Ally Bank

Ally Bank

APY

2.25%

With $0 minimum balance

Minimum Balance

$0

Member, FDIC


Why we like it

Online bank Ally's CD rates are solid, and in the case of its five-year term, there's no minimum to open.

Read Full Review

First Tech Federal Credit Union

First Tech Federal Credit Union

APY

2.20%

With $500 minimum balance

Minimum Balance

$500

Member, NCUA


Why we like it

First Tech Federal is a credit union opened to anyone who joins the nonprofit Financial Fitness Association for $8, or works for certain technology-driven companies. Its high five-year rate and low minimum make an attractive combination.

Read Full Review

TIAA Bank

TIAA Bank

APY

2.20%

With $5000 minimum balance

Minimum Balance

$5,000

Member, FDIC


Why we like it

TIAA Bank is an online bank with solid CD rates across the board, including its 5-year term. Its minimum is higher than some online banks.

Read Full Review

Citizens Access

Citizens Access

APY

2.25%

With $5000 minimum balance

Minimum Balance

$5,000

Member, FDIC


Why we like it

The Citizens Access five-year CD rate is highly competitive, as are its rates on other deposit accounts. The minimum deposit is higher than that of most banks.

Read Full Review

Synchrony Bank

Synchrony Bank

APY

2.25%

With $2000 minimum balance

Minimum Balance

$2,000

Member, FDIC


Why we like it

Synchrony requires a hefty minimum but earns a good rate for its five-year term.

Read Full Review

Alliant Credit Union

Alliant Credit Union

APY

2.10%

With $1000 minimum balance

Minimum Balance

$1,000

Member, NCUA


Why we like it

The online-focused credit union has a strong line-up of CD rates, especially for its five-year term, with a better minimum opening than many online banks.

Read Full Review

Connexus Credit Union

Connexus Credit Union

APY

2.41%

With $5000 minimum balance

Minimum Balance

$5,000

Member, NCUA


Why we like it

Connexus offers share certificates, the credit union equivalent of certificates of deposit, with top-of-the-line rates, but the minimum to open is steep. To join the credit union, you just have to donate $5 to its charitable organization, the Connexus Association.

Read Full Review

Consumers Credit Union

Consumers Credit Union

APY

2.15%

With $250 minimum balance

Minimum Balance

$250

Member, NCUA


Why we like it

Consumers Credit Union’s five-year rate plus a low opening minimum of $250 makes it a solid offering.

Read Full Review

Axos Bank™

Axos Bank™

APY

2.25%

With $1000 minimum balance

Minimum Balance

$1,000

Member, FDIC


Why we like it

The online bank offers a solid five-year rate and a low opening minimum of $1,000.

Read Full Review
Radius Bank

at Radius Bank,

Member, FDIC

Radius Bank

Radius Bank

APY

2.20%

With $500 minimum balance

Minimum Balance

$500

Member, FDIC

at Radius Bank,

Member, FDIC


Why we like it

The five-year rate for Radius Bank is competitive and the minimum of $500 is low.

Read Full Review

American Express National Bank

American Express National Bank

APY

2.15%

With $0 minimum balance

Minimum Balance

$0

Member, FDIC


Why we like it

American Express offers high rates for CD terms higher than one year, and there's no minimum deposit required.

Read Full Review

» Want to see more options? Check out our list of the best CD rates overall

NerdWallet's best 5-year CD rates December 2019

  • Best Overall: Connexus Credit Union: 2.41% APY.
  • High Rate: Ally Bank: 2.25% APY.
  • High Rate: Axos Bank: 2.25% APY.
  • High Rate: Synchrony Bank: 2.25% APY.
  • High Rate: Citizens Access: 2.25% APY.
  • High Rate: PurePoint Financial: 2.05% APY.
  • High Rate: Barclays: 2.20% APY.
  • High Rate: First Tech Federal Credit Union: 2.20% APY.
  • High Rate: Alliant Credit Union: 2.10% APY.
  • High Rate: Sallie Mae Bank: 2.20% APY.
  • High Rate: TIAA Bank: 2.20% APY.
  • High Rate: Radius Bank: 2.20% APY.
  • High Rate: American Express Bank: 2.15% APY.
  • High Rate: Consumers Credit Union: 2.15% APY.
  • High Rate: Marcus by Goldman Sachs: 2.15% APY.
  • High Rate: Popular Direct: 2.15% APY.

Last updated on December 1, 2019

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 UnionAlliant Credit UnionAlly BankAmerica First Credit UnionAmerican ExpressAspirationAssociated BankAxos BankBank5 Connect, Bank7, Bank of AmericaBank of the WestBarclays, BB&T, BBVABoeing Employees Credit Union, BMO HarrisCapital One 360Charles Schwab BankChaseChimeCIBC U.S., CITCitibankCitizens AccessCitizens Bank, Comerica Bank, Commerce BankConnexus Credit UnionConsumers Credit UnionDiscover Bank, E-Trade, FidelityFifth Third BankFirst National BankFirst Tech Federal Credit UnionGoBankGolden 1 Credit UnionGS BankHSBC Bank USAHuntington BankKeyBankM&T BankMovenNavy Federal Credit UnionPentagon Federal Credit UnionPNC, Popular DirectPurePoint FinancialRadius Bank, Redneck Bank, Regions BankSallie Mae BankSantander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit UnionSimpleState Employees’ Credit Union of North CarolinaState Farm BankSuncoast Credit Union, SunTrust Bank, Synchrony BankTCF BankTD BankTIAA BankUnion BankUFB DirectUSAAU.S. BankVaro, Vio BankWells Fargo and Zions Bank.

To recap our selections...

NerdWallet's Best 5-Year CD Rates December 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.