Summary of Best No-Penalty CD Rates for March 2020
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Citizens Access CD
Ally Bank CD
CIT Bank CD
PurePoint® Financial CD
Marcus by Goldman Sachs CD
No-penalty CDs: Pros and cons
No-penalty CDs can be a solid option, but see if the positives outweigh the negatives.
- High rates without penalty: CDs typically have higher rates than savings accounts, but most CDs make you commit to keeping your money locked up for a set period. No-penalty CDs give you the flexibility to withdraw early without losing any money.
- Opportunity to withdraw fee-free if rates go up: CD rates tend to be fixed once you open a CD, so you can miss out if a bank starts offering higher rates. But you don’t have to wait for a no-penalty CD to end its term to put your money into another CD with a higher rate.
» Want to see more CD options? Check out our list of the best CD rates overall
- Not the highest CD rates: You can find much better yields by comparing the best six-month and one-year CD rates.
- No partial withdrawals generally: If you withdraw early from a no-penalty CD, you might have to withdraw the entire balance and close the account.
- No multiple deposits: This is standard for all CDs, but if you find the flexibility of no-penalty CDs appealing but want to keep contributing savings, your best bet is a high-yield savings account. See the best online options.
Last updated on March 2, 2020
We featured easy-to-join financial institutions that NerdWallet has vetted and reviewed with the highest rates for no-penalty CDs. Higher rates might be available elsewhere.