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13 Best 5-Year CD Rates June 2021

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The best five-year CD rates tend to be much higher than the national average rate of 0.27% APY. These CDs can help you work toward your individual savings goals.

» Want to see a wider pool of high rates? See our list of the best high-interest accounts

Summary of Best 5-Year CD Rates June 2021

Comenity Direct CD
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at Comenity Direct, Member FDIC

Comenity Direct CD

4.5

NerdWallet rating 
Comenity Direct CD

Minimum Balance

$1,500

Member FDIC

APY

0.90%

With $1,500 minimum balance

Learn more

at Comenity Direct, Member FDIC


Why we like it

Comenity Direct has a somewhat hefty minimum for its high-yield CDs but stellar rates.

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Discover Bank CD
Learn more

at Discover Bank, Member FDIC

Discover Bank CD

4.0

NerdWallet rating 
Discover Bank CD

Minimum Balance

$2,500

Member FDIC

APY

0.60%

With $2,500 minimum balance

Learn more

at Discover Bank, Member FDIC


Why we like it

Discover offers a wide range of CD terms with solid rates. The minimum deposit is somewhat hefty, though.

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Consumers Credit Union CD

4.0

NerdWallet rating 
Consumers Credit Union CD

Minimum Balance

$250

Federally insured by the NCUA

APY

0.70%

With $250 minimum balance


Why we like it

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

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Live Oak Bank CD

4.0

NerdWallet rating 
Live Oak Bank CD

Minimum Balance

$2,500

Member FDIC

APY

0.70%

With $2,500 minimum balance


Why we like it

Live Oak Bank has competitive CD rates, though they come with a relatively high opening minimum.

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PenFed Credit Union Money Market Certificate

4.0

NerdWallet rating 
PenFed Credit Union Money Market Certificate

Minimum Balance

$1,000

Federally insured by the NCUA

APY

0.70%

With $1,000 minimum balance


Why we like it

Pentagon Federal Credit Union offers money market certificates, which are its CD equivalent, with a lower opening minimum than many online banks' CDs.

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TAB Bank CD

5.0

NerdWallet rating 
TAB Bank CD

Minimum Balance

$1,000

Member FDIC

APY

0.75%

With $1,000 minimum balance


Why we like it

The Utah-based TAB Bank offers a range of CDs online, including a competitive five-year term. Its opening minimum is on the lower end.

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Alliant Credit Union CD

4.0

NerdWallet rating 
Alliant Credit Union CD

Minimum Balance

$1,000

Federally insured by the NCUA

APY

0.65%

With $1,000 minimum balance


Why we like it

The online-focused credit union has a more favorable minimum opening requirement than many online banks and a competitive yield.

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Popular Direct CD

3.0

NerdWallet rating 
Popular Direct CD

Minimum Balance

$10,000

Member FDIC

APY

0.85%

With $10,000 minimum balance


Why we like it

The online bank has a steeper minimum balance requirement than most banks, but its rate is competitive.

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Synchrony Bank CD

4.5

NerdWallet rating 
Synchrony Bank CD

Minimum Balance

$0

Member FDIC

APY

0.80%

With $0 minimum balance


Why we like it

Synchrony has no minimum to open its CDs.

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Ally Bank High Yield CD

5.0

NerdWallet rating 
Ally Bank High Yield CD

Minimum Balance

$0

Member FDIC

APY

0.80%

With $0 minimum balance


Why we like it

Online bank Ally has no minimum to open its CDs.

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TIAA Bank Basic CD

3.5

NerdWallet rating 
TIAA Bank Basic CD

Minimum Balance

$1,000

Member FDIC

APY

0.85%

With $1,000 minimum balance


Why we like it

TIAA Bank is an online bank with a minimum lower than that of many competitors.

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Connexus Credit Union CD

4.5

NerdWallet rating 
Connexus Credit Union CD

Minimum Balance

$5,000

Federally insured by the NCUA

APY

1.00%

With $5,000 minimum balance


Why we like it

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

Read Full Review

Marcus by Goldman Sachs High-Yield CD

4.5

NerdWallet rating 
Marcus by Goldman Sachs High-Yield CD

Minimum Balance

$500

Member FDIC

APY

0.60%

With $500 minimum balance


Why we like it

The online-only bank requires $500 to open one of its high-yield CDs, which is relatively low.

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 June 2021

  • Connexus Credit Union: 1.00% APY.

  • Comenity Direct: 0.90% APY.

  • TIAA Bank: 0.85% APY.

  • Popular Direct: 0.85% APY.

  • Ally Bank: 0.80% APY.

  • Synchrony Bank: 0.80% APY.

  • TAB Bank: 0.75% APY.

  • Consumers Credit Union: 0.70% APY.

  • Pentagon Federal Credit Union: 0.70% APY.

  • Live Oak Bank: 0.70% APY.

  • Alliant Credit Union: 0.65% APY.

  • Marcus by Goldman Sachs: 0.60% APY.

  • Discover Bank: 0.60% APY.

Last updated on June 1, 2021

Methodology

On a monthly basis, we compare rates at over 20 financial institutions, taken from our full list, which we’ve seen to be consistently competitive. On a quarterly basis, we take 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 National Bank, Associated Bank, Axos Bank, Bank5 Connect, Bank7, Bank of America, Bank of the West, Barclays, BB&T, BBVA, BMO Harris, Boeing Employees Credit Union, Capital One 360, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, Comenity Bank, Comerica Bank, Commerce Bank, Connexus Credit Union, Consumers Credit Union, Discover Bank, E*TRADE Bank, Fifth Third Bank, First Foundation Bank, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, GoBank, Golden 1 Credit Union, Goldman Sachs Bank USA, HSBC Bank, Huntington Bank, KeyBank, Live Oak Bank, M&T Bank, Nationwide Bank, Navy Federal Credit Union, NBKC Bank, Pentagon Federal Credit Union, PNC, Popular Direct, PurePoint Financial, Quontic Bank, Radius, Redneck Bank, Regions Bank, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Service Credit Union, State Employees' Credit Union of North Carolina, Suncoast Credit Union, SunTrust Bank, Synchrony Bank, TAB Bank, TCF Bank, TD Bank, TIAA Bank, U.S. Bank, UFB Direct, Union Bank, USAA, Varo, Vio Bank, Wells Fargo, Woodforest National Bank and Zions Bank.

To recap our selections...

NerdWallet's Best 5-Year CD Rates June 2021

Frequently asked questions