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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.
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Bank | Terms | APY | CTA |
|---|---|---|---|
 NerdWallet rating | 1 year $1500 minimum balance | APY 0.70% | At Comenity Direct, Member FDIC |
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 NerdWallet rating | 9 months $500 minimum balance | APY 0.65% | At Marcus by Goldman Sachs, Member FDIC |
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How we rate banks and credit unions
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.
*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.
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.
