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Best 5-Year CD Rates July 2019

July 1, 2019
Banking, CDs
best-5-year-cd-rates
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The best five-year CD rates tend to be among the highest CD rates available. See our picks below.

Best 5-year CD interest rates | July 2019
Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

Member, FDIC

Marcus by Goldman Sachs

4.0 NerdWallet rating

2.80% APY
$500 minimum deposit

Discover

at Discover,

Member, FDIC

Discover Bank

4.5 NerdWallet rating

• 2.85% APY
• $2,500 minimum deposit

Connexus Credit Union

4.0 NerdWallet rating

• 2.80% APY
• $5,000 minimum deposit

Popular Direct

3.5 NerdWallet rating

• 2.80% APY
• $10,000 minimum deposit

Citizens Access Bank

4.0 NerdWallet rating

• 2.70% APY
• $5,000 minimum deposit

Alliant Credit Union

4.5 NerdWallet rating

• 2.70% APY
• $1,000 minimum deposit

Ally Bank

4.5 NerdWallet rating

• 2.75% APY
• $0 minimum deposit

Synchrony Bank

4.0 NerdWallet rating

• 2.80% APY
• $2,000 minimum deposit

American Express

4.0 NerdWallet rating

• 2.70% APY
• $0 minimum deposit

Barclays

4.0 NerdWallet rating

• 2.85% APY
• No minimum deposit

TIAA Bank

4.0 NerdWallet rating

• 2.70% APY
• $5,000 minimum deposit

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

Are CDs worth it right now?

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.)

» Want to know more? Read our full article on whether CDs are worth it

How do CD rates work?

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

When should you get a CD?

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

What’s better: CDs or high-yield savings accounts?

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.

What’s better: CDs or investment accounts?

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.

Best 5-year CD rates, July 2019

BankAPYMinimum deposit
Connexus Credit Union2.80%$5,000
American Express2.70%$0
Synchrony Bank2.80%$2,000
Ally Bank2.75%$0
Barclays2.85%$0
Alliant Credit Union2.70%$1,000
Discover Bank2.85%$2,500
Marcus by Goldman Sachs2.80%$500
Citizens Access2.70%$5,000
Popular Direct2.80%$10,000
TIAA Bank2.70%$5,000

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.

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