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Best CD Rates
- EverBank, 2.65% APY
- Marcus by Goldman Sachs, 2.60% APY
- Capital One 360, 2.65% APY
- Barclays, 2.55% APY
- Synchrony Bank, 2.50% APY
- Ally Bank, 2.50% APY
- Discover Bank, 2.45% APY
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’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
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
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
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
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
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’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: email@example.com. Twitter: @tonystrongarm.
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.