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 5 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.

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

1.00%

At Marcus by Goldman Sachs, Member FDIC

View Details

How we rate banks and credit unions

View all CDs

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 5x the average APY* — plus, they also offer rock-bottom maintenance fees.

*5x more interest based on the national average annual percentage yield ("APY") of 0.06% (as reported by the Federal Deposit Insurance Corporation as of May 27, 2020) as compared to online banks with interest-bearing CD account APYs of 0.40% 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 0.06% as reported by the Federal Deposit Insurance Corporation as of May 27, 2020.

EXAMPLE OF POTENTIAL SAVINGS

If your money is in an account that earns a high interest rate, your balance will grow faster without any additional effort on your part. After one year, a balance of $10,000 would earn about $10 in an account with a 0.10% APY. That same balance would earn about $150 in an account with a 1.50% APY.

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.