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A business certificate of deposit can be a smart savings vehicle for business owners to park cash they don't need for at least six months. The best business CDs earn a fixed annual percentage yield of 3.5% or higher. The catch: You'll pay a penalty if you withdraw that money before your CD term ends.
» Want interest without the commitment? See the best high-yield business savings accounts.
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American Express National Bank American Express® Business Checking
Bonus Amount
30,000 Points Best business CD rates
We scoped out business CDs from dozens of online, national and regional banks to find the best business CD rates. As interest rates fall nationwide, we've lowered our threshold to 3.50% for the accounts we include on this list.
(Note: Interest rates and APYs may vary depending on your location.)
| Term | APY | Minimum deposit | |
|---|---|---|---|
| TAB Bank Business CD | 36 months | 4.15% | $1,000 |
| Live Oak Business CD | 12 months | 4.10% | $2,500 |
| Prime Alliance Bank CD | 6 months | 3.85% | $500 |
| America First Credit Union Certificate Account | 6-11 months | 3.80% | $500 |
| First Internet Bank Business CD | 6 months | 3.76% | $1,000 |
| Citizens Bank Business CD | 3 months | 3.75% | $25,000 |
| Wells Fargo Special Fixed Rate Business CD | 4 months | 3.75% | $5,000 |
| EverBank Business CD | 6 months | 3.70% | $1,500 |
| Regions Promotional Business CD | 9 months | 3.50% (relationship APY) or 3.25% (standard APY) | $500 |
Keep a close eye on the term if you opt for a promotional CD rate. When your CD’s promotional rate term ends, the certificate may automatically renew at a much lower rate. Instead, set your CD to automatically transfer funds to another high-yield account when your term ends.
🤓 Nerdy Tip
Use NerdWallet’s compound interest calculator to see how much you could earn with our picks for best business CDs. Dive deeper: NerdWallet's picks for best business CDs
TAB Bank Business CD
TAB Bank’s business CD terms range from 12 months to 5 years. Historically, the bank’s 12-month CD offered the best rate. But TAB has bumped up rates across the board. As of June 2026, the bank's best rate is 4.15% on a 36-month business CD. That's the longest term on this list; it's also the highest APY.
- Term: 36 months.
- Minimum deposit: $1,000.
- APY: 4.15%.
- Early withdrawal penalty: 90 days of interest.
Live Oak Business CD
The Live Oak Bank 12 Month Business CD earns 4.10% APY. That's up from 4% APY in May. Live Oak's business savings account also earns 2.85% APY and has unlimited transactions.
- Term: 12 months.
- Minimum deposit: $2,500.
- APY: 4.10% APY.
- Early withdrawal penalty: 90 days of interest.
Live Oak Bank Live Oak Bank 12 Month Business CD
APY
4.10% America First Credit Union Certificate Account
You have to be a America First Credit Union member to open a certificate account (learn more), and you have to apply for this account in person at one of their branch locations in Utah, Arizona, Idaho, Nevada or New Mexico. But the APY is very competitive.
- Term: 6-11 months.
- Minimum deposit: $500.
- APY: 3.95%.
- Early withdrawal penalty: Terms under 12 months: 60 days of interest. Over 12 months: 180 days of interest.
Prime Alliance Bank Business CD
Prime Alliance Bank offers a strong APY on its 6-month business CD: 3.85%. Prime Alliance has a single branch location near Salt Lake City, and opening an account isn’t as straightforward as it is at other banks — you’ll have to email Prime Alliance. But that minor inconvenience may be worth the major yield.
- Term: 6 months.
- Minimum deposit: $500.
- APY: 3.85%.
- Early withdrawal penalty: Not disclosed.
First Internet Bank Business CD
First Internet Bank is known for offering some of the best rates on business savings accounts, and its business CD is no different. You can choose term lengths ranging from three months to five years, but you’ll get the best rate with the bank’s 6-month business CD, which earns 3.76% APY.
- Term: 6 months.
- Minimum deposit: $1,000.
- APY: 3.76% APY.
- Early withdrawal penalty: 180 days of interest.
Citizens Bank Business CD
Citizens Bank business CDs require a large deposit — $25,000 — but the payoff is worth it if you have the cash reserves. The bank's 3-month business CD currently offers the best rate: 3.75% APY. That's down from 4% APY in May.
- Term: 3 months.
- Minimum deposit: $25,000.
- APY: 3.75%.
- Early withdrawal penalty: $50 penalty, plus the greater of (a) 90 days' interest on the amount withdrawn, or (b) half the remaining interest owed on that amount.
Wells Fargo Special Fixed Rate Business CD
Wells Fargo offers its highest APY on its 4-month Special Fixed Rate Business CD. Longer terms are available, but rates for certain terms are much lower. You need a minimum deposit of at least $5,000 to qualify for a Special Fixed Rate Business CD.
- Term: 4 months.
- Minimum deposit: $5,000.
- APY: 3.75%.
- Early withdrawal penalty: 90 days of interest.
EverBank Business CD
EverBank, formerly known as TIAA, offers business CDs with terms ranging from three months to five years. But the highest APY comes with the 6-month term. You’ll need a minimum deposit of $1,500 for all business CDs.
- Term: 6 months.
- Minimum deposit: $1,500.
- APY: 3.70%.
- Early withdrawal penalty: 91 days of interest.
Regions Business CD
Regions offers a 9-month business CD that earns a promotional rate of 3.50% APY to those who qualify for relationship pricing (primarily having a Regions checking account).
- Term: 9 months.
- Minimum deposit: $500.
- APY: 3.50% (relationship rate); 3.25% (non-relationship rate).
- Early withdrawal penalty: All interest earned on the amount withdrawn as of the date of withdrawal or 2% of the amount withdrawn, whichever is less.
What is a business CD?
A business CD is a high-yield account that locks your funds up for a designated term — anywhere from a few weeks to a few years. In exchange, certificates of deposit typically offer interest rates higher than traditional business savings or business checking accounts (though the options on our list of the best business checking accounts offer up to 2.5% APY as of this writing). Like other business bank accounts, business CDs are FDIC insured up to $250,000 per depositor.
Withdrawing funds from your CD early will result in a penalty of one month’s to one year’s interest, depending on your original term and the financial institution’s rules. You won’t lose any of your initial deposit, though.
» Not seeing a business CD you like? Browse NerdWallet's consumer CD rates.
Business CD vs. business money market account
Business CDs and business money market accounts are both low-risk, high-reward ways to invest longer-term savings, but there are a few key differences.
Interest rates: CDs typically yield a better return than money market accounts. A 12-month CD earns 1.55% APY, on average, compared with 0.57% APY for money market accounts, according to the latest data from the Federal Deposit Insurance Corp.
Business CDs also have a fixed rate for the term, while the rate on money market accounts is variable and can change as interest rates rise or fall.
That combo of higher rates and guaranteed returns makes business CDs a good tool to save for specific goals, like expansion plans or major equipment purchases, that are at least a year out.
Access to your money: Business money market accounts typically include check-writing and debit card access, so you can withdraw money as needed. With a business CD, your funds are tied up until the term ends and you’ll get hit with a penalty if you withdraw your money early.
Withdrawals on money market accounts are traditionally capped at six per month, per Regulation D, but those limits were relaxed during COVID-19 and some banks still don’t enforce them. The flexibility of a money market fund makes it a better choice than a CD for your emergency fund or excess operating funds.
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Average business CD rates
Business CD rates can vary widely depending on the business bank, the length of the CD term and where you live. In most cases, you’ll get the best yield with a 12-month CD — a departure from years past when a longer term equaled a higher rate.
Average rates largely held steady over the past month, with one exception: 6-month CDs fell from 1.44% to 1.35%.
Average APYs for CDs
The national average APY for a certificate of deposit, according to the most recent data from the FDIC:
- 1-month CD: 0.21%.
- 3-month CD: 1.24%.
- 6-month CD: 1.35%.
- 12-month CD: 1.55%.
- 24-month CD: 1.50%.
- 36-month CD: 1.32%.
- 48-month CD: 1.24%.
- 60-month CD: 1.34%.
Rates are current as of June 3, 2026.
Compare rates on 12-month business CDs
This table reflects the APY for a 12-month business CD across multiple business banks as of June 3, 2026. This may or may not be the highest rate the bank offers. Often shorter promotional terms have higher APYs.
| Term | APY | Opening deposit | |
|---|---|---|---|
| Bank of America Fixed Term Business CD | 12 months | 0.03% | $1,000 |
| Chase Business CD | 12 months | 0.50% | $1,000 |
| Citizens Bank Business CD | 12 months | 0.03% | $25,000 |
| EverBank Business CD | 12 months | 3.60% | $1,500 |
| First Internet Bank Business CD | 12 months | 3.67% | $1,000 |
| Live Oak Business CD | 12 months | 4.10% | $2,500 |
| NBKC Business CD | 12 months | 2.75% | $1,000 |
| Prime Alliance Business CD | 12 months | 3.85% | $500 |
| Regions Business CD (Non-Promotional) | 12 months | 0.01% | $500 |
| TAB Bank Business CD | 12 months | 4% | $1,000 |
| U.S. Bank Standard Business CD | 12 months | 0.05% | $500 |
| Wells Fargo Standard Fixed Rate Business CD | 12 months | 1.50% | $5,000 |
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- 1. Federal Deposit Insurance Corp.. National Rates and Rate Caps. Accessed Jun 3, 2026.
