ADVERTISEMENT: Products from our partners

Standout CD rates

CDs are an excellent way to earn money for doing virtually nothing. They often pay more in interest than your average savings account — sometimes as much as 18 times more. And thankfully, it only takes minutes to find the best one for you. Check out the offers from our partners and start earning more interest today.

The key difference between CDs and savings accounts

CDs typically have a higher APY – though nowadays the differences are slim – but require you to leave your money untouched for the length of the CD term. Savings accounts, on the other hand, offer you access to your cash whenever you want. If you want instant access to your money, a savings account might be the better option.

Get personalized rates

CD rates hinge on a few basic inputs, so be sure to enter your info below.

Deposit amount

Length of CD

NerdWallet Rating

Bank

Terms

APY

CTA

NerdWallet rating

View Details

1 year
$500 minimum balance

APY

0.65%

At Marcus by Goldman Sachs, Member FDIC

View Details

How we rate banks and credit unions

View all CDs

Looking for a hands-off way to invest? Try an online financial advisor.

Vanguard Personal Advisor Services is an excellent choice for investors who can meet the $50,000 account minimum and want to use the computer algorithms of a robo-advisor with access to a live financial advisor at a low cost.

Broker

Highlights

Commissions

Account Minimum

Current Offers

Start Investing

NerdWallet rating

Show Details

Customized portfolios; access to financial advisors

Commissions

0.30%

management fee

Current Offers

None

no promotion available at this time

on Vanguard Personal Advisor Services's website

Show Details

Want an Online Broker For Stock Trading?

With standout features like low commission rates, impressive investing tools, easy-to-access research and more, these brokers offer something for every investor — from beginners to seasoned traders. And to help you find the one that’s right for you, we’ve highlighted their pros, cons and current offers.

Broker

Highlights

Commissions

Account Minimum

Current Offers

Start Investing

NerdWallet rating

Show Details

Breadth of research; strong educational offerings

Commissions

$0

per trade

Current Offers

Up to $600

cash credit with qualifying deposit

on Merrill Edge's website

Show Details

NerdWallet rating

Show Details

Large selection; low fees

Commissions

$0

per trade

Current Offers

None

no promotion available at this time

on E*TRADE's website

Show Details

NerdWallet rating

Show Details

SoFi Active Investing: Cryptocurrency trading; fractional shares.

Commissions

$0

per trade

Current Offers

Free

career counseling plus loan discounts with qualifying deposit

on SoFi Active Investing's website

Show Details

Standout Savings Accounts

Savings accounts offer you access to your cash whenever you want. If you want instant access to your money, a savings account might be the better option than a CD.

BankAPYMonthly FeeDetails
American Express® High Yield Savings Account's logo

at American Express National Bank,

Member FDIC

0.60%

With $0 minimum balance

$0

Pros

  • Customer service available 24/7
  • $0 minimum balance
  • No monthly fees

Cons

  • No checking account, mobile app or ATM cards
  • No branches

Why online banks dominate the list

The most important factor for virtually every CD-shopper is the APY. And, as it happens, online banks are offering massive APYs — as much as 18x the average APY* — plus, they also offer rock-bottom maintenance fees.

*18x more interest based on the national average annual percentage yield ("APY") of 0.05% (as reported by the Federal Deposit Insurance Corporation as of September 1, 2020) as compared to online banks with interest-bearing CD account APYs of 0.90% or more. Estimated annual earnings result assumes principal and interest remain on deposit for one year and interest rates and APY do not change. Estimated annual earnings are for informational purposes only. Interest rates and APY are subject to change and specific results cannot be guaranteed.

1 The national average annual percentage yield ("APY") is listed as 0.05% as reported by the Federal Deposit Insurance Corporation as of September 1, 2020.

Want to see more reviews like this? We’ve got it covered.

A little about us
At NerdWallet, we offer straightforward advice and tools to help you make the best possible financial decisions. All for free. So how do we make money? In most cases, when someone applies or gets approved for a financial product we get paid. But that doesn’t sway our opinions.