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Best CD Rates June 2018

June 20, 2018
Banking, CDs
nerdwallets-best-cd-rates
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Top CD interest rates
Marcus by Goldman Sachs
Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

Member, FDIC

Overall bank rating:

• 5-year: 2.90% APY
• 1-year: 2.30% APY
$500 minimum deposit; other details

Barclays
Barclays

at Barclays,

Member, FDIC

Overall bank rating:

• 5-year: 2.85% APY
• 1-year: 2.25% APY
No minimum deposit; other details

Connexus Credit Union
Overall bank rating:

• 5-year: 3.25% APY
• 1-year: 2.50% APY
$5,000 minimum deposit; other details

Synchrony Bank
Synchrony Bank

at Synchrony Bank,

Member, FDIC

Overall bank rating:

• 5-year: 2.85% APY
• 1-year: 2.25% APY
$2,000 minimum deposit; other details

TIAA Bank*
Overall bank rating:

• 5-year: 2.90% APY
• 1-year: 2.35% APY
$5,000 minimum deposit; other details

*formerly EverBank
Capital One 360
Overall bank rating:

• 5-year: 2.80% APY
• 1-year: 2.25% APY
No minimum deposit; other details

You’ll typically find better rates on CDs than you will on savings accounts — and CDs rarely have monthly fees. If you don’t need to use some of your money for several years, compare CDs with high annual percentage yields, or APYs.

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

Best CD Rates June 2018

Marcus by Goldman Sachs, 2.90% APY

$500 MINIMUM DEPOSIT

Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

Member, FDIC


Marcus, the Goldman Sachs branch that handles banking products, has a one-year CD that earns 2.30% APY. And the bank pays 2.90%% APY on its five-year CD. Its savings account has a similarly impressive rate. The bank does not, however, offer ATMs, branches or checking accounts.

Barclays, 2.85% APY

No Minimum Deposit

Barclays

at Barclays,

Member, FDIC

People looking to open a CD have plenty to choose from at Barclays. The online-only bank’s five-year option comes with a 2.85% APY, and its one-year CD pays 2.25%. Barclays’ savings account is just as competitive, offering one of the highest APYs on the market. The bank, however, does not offer checking accounts.

Connexus Credit Union, 3.25% APY

$5,000 MINIMUM DEPOSIT

All of Connexus’s CD rates are impressive — its rate on a one-year CD (2.50% APY) is higher than many banks’ rates for five-year CDs. You’ll have to put down a hefty amount to take advantage, but you won’t have a hard time qualifying to be a member of the credit union. Just make a one-time $5 donation to the Connexus Association, a charitable organization.

Synchrony Bank, 2.85% APY

$2,000 MINIMUM DEPOSIT

Synchrony Bank

at Synchrony Bank,

Member, FDIC

An online bank, Synchrony has a one-year CD with an APY of 2.25%. For the five-year option, the APY is 2.85%. Although the bank doesn’t offer checking accounts, 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.

TIAA Bank, 2.90% APY

$5,000 MINIMUM DEPOSIT

TIAA Bank, formerly EverBank, offers not only its five-year CD at 2.90% APY, but also short-term certificates of deposit with three-, six- and nine-month terms. You’ll also find a solid introductory rate on the bank’s money market account, although its savings account has a lower yield.

Capital One 360, 2.80% APY

No Minimum Deposit

Along with stellar long-term CD options, Capital One 360 has a one-year CD with an APY of 2.25%. Its five-year CD earns an APY of 2.80%. 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.

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

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

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 that we’ve reviewed 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. We also included select, standout rates from other trusted online financial institutions that we have reviewed. Higher rates might be available elsewhere.