Advertiser Disclosure

Best CD Rates February 2018

Banking, CDs
You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved. Here's how we make money.
nerdwallets-best-cd-rates

 

Certificates of deposits usually have higher annual percentage yields, or APYs, than savings accounts. And they rarely charge monthly fees. The result: Your deposits earn more money.

These banks offer some of the best rates available in February for five-year CDs, as well as stellar shorter term options.

EverBank, 2.65% APY

$5,000 MINIMUM DEPOSIT

EverBank
Learn more
at EverBank
EverBank’s short-term CDs are especially impressive. Its Yield Pledge one-year CD, which requires a minimum deposit of $5,000, has a 2.00% APY. EverBank also has a five-year CD with a 2.65% APY, along with several short-term CDs — ranging from three to nine months — that earn APYs of 1.25% to 1.60%.

Marcus by Goldman Sachs, 2.60% APY

$500 MINIMUM DEPOSIT

GS Bank
Learn more
at Goldman Sachs Bank USA
Marcus, the Goldman Sachs branch that handles banking products, has a one-year CD that earns 2.05% APY. And the bank pays 2.60% APY on its five-year CD. Its savings account has a similarly impressive rate. The bank does not, however, offer ATMs, branches, checking accounts or a mobile app.

Capital One 360, 2.65% APY

No Minimum Deposit

Capital+One
Read full review
on NerdWallet
Along with stellar long-term CD options, Capital One 360 has a one-year CD with an APY of 2.00%. Its five-year CD earns an APY of 2.65%. The online bank also offers excellent checking and savings accounts, making Capital One 360 ideal for customers looking to keep all of their accounts with the same institution.

Barclays, 2.55% APY

No Minimum Deposit

Barclays
Learn more
at Barclays
People looking to open a CD have plenty to choose from at Barclays. The online-only bank’s five-year option comes with a 2.55% APY, and its one-year CD pays 2.00%. Barclays’ savings account is just as competitive, offering one of the highest APYs on the market. The bank, however, does not offer checking accounts or a mobile app for U.S. customers.

Synchrony Bank, 2.50% APY

$2,000 MINIMUM DEPOSIT

Synchrony+Bank
Learn more
at Synchrony
An online-only bank, Synchrony has a one-year CD with an APY of 1.95%. For the five-year model, the APY is 2.50%. Although the bank doesn’t offer checking accounts and has only one branch, its savings account is one of the best of its kind, making Synchrony a great choice for customers looking to separate their spending money from their savings.

Ally Bank, 2.50% APY

2.25% WITH NO MINIMUM DEPOSIT

Ally+Bank
Learn more
at Ally
This online bank’s one-year High Yield CD offers 1.75% APY with no minimum deposit. A deposit of $25,000 brings the APY up to 2.00%. With Ally’s five-year term, a buck will get you 2.25% APY; the rate ranges up to 2.40% with a $5,000 minimum deposit and 2.50% with a $25,000 deposit.  For maximum flexibility along with a decent return, customers may prefer Ally’s highly regarded savings account, which has an APY of 1.45%.

Discover Bank, 2.45% APY

$2,500 MINIMUM DEPOSIT

Discover
Learn more
at Discover
Discover’s one-year CD comes with a 1.90% APY while its three-year option brings in 2.05% and its five-year term 2.45%. Discover’s savings account, meanwhile, has one of the highest APYs on the market.

 » Want more CD options? Use NerdWallet’s CD rates tool

» Need more access to your funds? Check out our best high-yield savings accounts

Updated Feb. 1, 2018.

Tony Armstrong is a staff writer at NerdWallet, a personal finance website. Email: tony@nerdwallet.com. Twitter: @tonystrongarm.


METHODOLOGY

We featured easy-to-join financial institutions with the highest rates currently listed in NerdWallet’s CD rates tool for five-year CDs. For the ZIP code and minimum deposit requirement, we used 94103 and $5,000, respectively. Higher rates might be available elsewhere.