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10 Best CD Rates for April 2019

April 1, 2019
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

4.0 NerdWallet rating

• 1-year: 2.70% APY
• 3-year: 2.70% APY
• 5-year: 3.00% APY
• $500 minimum deposit
• Terms: Six months to six years; other details

Barclays

4.0 NerdWallet rating

• 1-year: 2.70% APY
• 3-year: 2.80% APY
• 5-year: 3.05% APY
• No minimum deposit
• Terms: Three months to five years; other details

Capital One 360

4.5 NerdWallet rating

• 1-year: 2.70% APY
• 3-year: 2.85% APY
• 5-year: 3.10% APY
No minimum deposit
Terms: Six months to five years; other details

Vio Bank

Vio Bank

at Vio Bank,

Member, FDIC

4.0 NerdWallet rating

• 1-year: 2.35% APY
• 3-year: 2.50% APY
• 5-year: 2.70% APY
• $500 minimum deposit
• Terms: Six months to ten years; other details

TIAA Bank

3.5 NerdWallet rating

• 1-year: 2.75% APY
• 3-year: 2.83% APY
• 5-year: 2.95% APY
• $5,000 minimum deposit
• Terms: Three months to five years; other details

Alliant Credit Union

4.5 NerdWallet rating

• 1-year: 2.70% APY
• 3-year: 2.75% APY
• 5-year: 3.00% APY
• $1,000 minimum deposit
• Terms: One year to five years; other details

PurePoint

3.0 NerdWallet rating

• 1-year: 2.80% APY
• 3-year: 3.00% APY
• 5-year: 3.10% APY
• $10,000 minimum deposit
• Terms: Six months to five years; other details

Citizens Access

4.0 NerdWallet rating

• 1-year: 2.85% APY
• 3-year: 2.90% APY
• 5-year: 3.00% APY
• $5,000 minimum deposit
• Terms: Six months to five years; other details

Synchrony Bank

4.0 NerdWallet rating

• 1-year: 2.80% APY
• 3-year: 2.90% APY
• 5-year: 3.10% APY
• $2,000 minimum deposit
• Terms: Three months to five years; other details

 

The best CD rates can generally be found at online banks and credit unions. If you don’t need immediate access to some of your money, high-yield CDs can be a great way to build your savings.

» Curious about other savings options? Check out NerdWallet’s best high-yield online savings accounts

The following banks offer some of the highest CD rates available in April. With rates on the rise, a six-month or one-year CD might be a better option than a long-term CD; you’ll be able to access your cash in months and potentially reinvest at higher rates. (See the best six-month rates or the best one-year rates.) If you’re looking for an even shorter term, see some of the best three-month rates. Although CDs with five-year terms offer greater yields, you’ll need to keep your money locked away longer. (If that’s appealing, check out more five-year CDs. And if you’re in the middle, consider three-year CD rates.)

Here’s a closer look at some of the best CD rates on the market. Keep in mind that the average annual percentage yield (APY) on one-year CDs is 0.66%. (Or skip ahead to CD alternatives.)

Compare CD rates for April 2019

Marcus by Goldman Sachs, 0.60%–3.05% APY

Terms: 6 months to 6 years
Minimum deposit: $500

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 2.70% APY. And the bank pays 3.00% 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, 0.35%–3.05% APY

Terms: 3 months to 5 years
Minimum deposit: None

People looking to open a CD have plenty to choose from at Barclays. The online-only bank’s five-year option comes with a 3.05% APY, and its one-year CD pays 2.70%. Barclays’ savings account is just as competitive, offering one of the highest APYs on the market. The bank, however, does not offer checking accounts.

Capital One 360, 0.60%–3.10% APY

Terms: 6 months to 5 years
Minimum deposit: None

Along with stellar long-term CD options, Capital One 360 has a one-year CD with an APY of 2.70%. Its five-year CD earns a competitive APY of 3.10%. The bank also offers excellent checking and savings accounts, making Capital One 360 a good choice for customers looking to keep all of their accounts with the same institution.

Vio Bank, 2.00%–2.90% APY

Terms: 6 months to 10 years
Minimum deposit: $500

Vio Bank

at Vio Bank,

Member, FDIC

Unlike most online banks, Vio provides a long range of CD terms, from six months to 10 years. And you only need $500 to open an account. Rates are yet another strength: its one-year CD has an APY of 2.35% and its three-year CD features an APY of 2.50%.

TIAA Bank, 2.00%–2.95% APY

Terms: 3 months to 5 years
Minimum deposit: $5,000

TIAA Bank has high rates across its wide range of CD terms, including three-month CDs with 2.00% APY and five-year CDs with 2.95% APY. The minimum to open is steep compared to some banks, but the rates can be worthwhile. Although there are some branches, TIAA Bank mainly functions as an online bank with mobile apps and 24/7 customer service by phone.

Terms: 3 months to 5 years
Minimum deposit: $10,000

Popular Direct has one of the higher opening minimum requirements, $10,000, but it may be worthwhile. The online bank’s rates stand out with a five-year term at 3.00% APY and a three-year term at 2.90% APY. Popular Direct has 24/7 phone support, but a minimal app and no branches.

Alliant Credit Union, 2.70%–3.00% APY

Terms: 1 year to 5 years
Minimum deposit: $1,000

The online-focused Alliant Credit Union has an impressive selection of share certificate rates. Its five-year rate of 3.00% is competitive with online bank CDs, as are its one- and three-year rates, and the credit union has a relatively low opening minimum of $1,000. To become a member, you can agree to support Alliant’s partner charity Foster Care to Success; Alliant will make a $5 donation on your behalf. There are also a few other ways to join the credit union.

PurePoint, 2.20%–3.05% APY

Terms: 6 months to 5 years
Minimum deposit: $10,000

PurePoint, online bank division of Union Bank, offers high rates hand-in-hand with a high opening deposit minimum of $10,000. Rates are competitive across the board, especially its 3.00% APY for a three-year term. Customer service by phone is available on weekdays, and the bank has a handful of branches in four states.

Citizens Access, 2.35%–3.00% APY

• Terms: 6 months to 5 years
• Minimum deposit: $5,000

Citizens Access, the online-only offshoot of Citizens Bank, has a variety of high-yield CDs, including its one-year CD with an APY of 2.85%, and a five-year CD at 3.00% APY. The bank has CD term lengths starting at six months. Like other online banks with stellar CD options, it doesn’t have checking, but Citizens’ savings account is a top contender when it comes to APY.

Synchrony Bank, 0.75%–3.10% APY

• Terms: 3 months to 5 years
• Minimum deposit: $2,000

An online bank, Synchrony has a one-year CD with an APY of 2.80%. For the five-year option, the APY is 3.10%. Although the bank doesn’t offer checking accounts, its savings account is one of the most impressive of its kind, making Synchrony a great choice for customers looking to separate their spending money from their savings.

Alternatives to CDs

Let’s say you have an emergency fund that consists of enough cash to cover about three to six months’ worth of living expenses. To grow your long-term savings, consider opening an online brokerage account. Although these financial products come with more risk than CDs, they could lead to higher returns.

Picking the right broker comes down to your priorities. Some investors are willing to pay more for a top-notch platform; others count costs above all else. With brokerage accounts, you don’t have to worry about early withdrawal penalties, but your funds may be more difficult to access in a pinch, given that you’ll likely need to sell some investment shares before you can devote that money to anything else.

» For in-depth guidance, check out NerdWallet’s best online stock brokers for beginners

CD rates | April 2019

BankAPYTermMinimum deposit
Popular Direct 2.05%-3.00%3 months - 5 years$10,000
Citizens Access2.35% - 3.00%6 months - 5 years$5,000
Marcus by Goldman Sachs0.60%-3.05%6 months - 6 years$500
Vio Bank2.00%-2.90%6 months - 10 years$500
PurePoint2.20%-3.10%6 months - 5 years$10,000
TIAA Bank2.00% - 2.95% APY3 months - 5 years$5,000
Capital One 3600.60% - 3.10%6 months - 5 yearsNo minimum
Synchrony Bank0.75%-3.10%3 months - 5 years$2,000
Barclays0.35%-3.05%3 months - 5 yearsNo minimum
Alliant Credit Union


2.70%-3.00% 1 - 5 years


$1,000



METHODOLOGY

We featured easy-to-join financial institutions that we’ve reviewed with the highest rates currently listed on NerdWallet’s CD rates tool. For the ZIP code and minimum deposit requirement, we used 94103 and $10,000, respectively. We also included select, standout rates from other trusted online financial institutions that we have reviewed. Higher rates might be available elsewhere.