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CD Rates Summary

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As today’s April CPI numbers show, inflation continues to run hot. The numbers today exceeded forecasts, and adds to the concerns that the Fed won’t be able to pull inflation back to normal levels. The Fed’s rate hikes have been impacting CD rates, but CD rates are still well below the inflation rate. Also, with many more Fed rate hikes likely, it’s hard to find CDs attractive. For balances under $10k, the Series I Savings Bond is clearly superior since it’s indexed with inflation. The May I bond interest rate is 9.62% which will apply to all I bonds for six months. Please see my I bond review for more details.

For larger balances, Treasury bills and notes currently have a rate advantage, although the rate advantages have been shrinking. At today’s market close, the Treasury Par Yield Curve lists 3-month, 6-month, 1-year, 2-year and 5-year yields of 0.91%, 1.43%, 1.99%, 2.66% and 2.89%, respectively. We now have a couple of direct CDs that have comparable rates to these for similar maturities.

The primary downside with T-bills and T-notes is that they can decline in value when rates are rising. This isn’t an issue if you hold them until maturity, but if you sell them before maturity, you can lose money. The more yields rise, the larger the loss. Direct CDs, on the other hand, typically have defined early withdrawal penalties (EWPs). You can use our CD EWP calculator to see what early withdrawals will cost you. For some banks with mild EWPs, the cost isn’t too bad.

Increases in Direct CD yields have accelerated. In fact, several banks had two rounds of CD rate increases in the last two weeks, which made this CD summary challenging to put together.

For the popular online banks, the most noteworthy CD rate increases were at Live Oak Bank and Synchrony Bank.

Live Oak Bank increased its CD rates from 50 to 75 bps. Its 5-year CD yield increased 75 bps to 2.75%. Its 18-month CD yield has reached 2%, and its 1-year CD isn’t far behind with a yield of 1.75%.

Synchrony Bank increased rates on several of its CDs, including its 16-month CD Special. Its yield increased 15 bps today to 1.85%.

Like Synchrony, Ally Bank has been most aggressive with its special CDs, what Ally calls Select CDs. Its Select CD yields increased 25 bps, resulting in a yield of 1.50% for the 14-month term and a yield of 1.75% for the 20-month term.

The small online banks have generally been offering higher CD rates than most of the large ones. KS StateBank currently has one of the best nationally available CD rates for banks. Its 5-year CD yield has reached 3.00% after a 30-bp rate increase. Its 2-year CD yield isn’t far behind with a yield of 2.60%, and its 1-year CD yield has climbed to 2%.

A few credit unions which have fields of membership that allow people from any state to join have increased rates to even higher levels. The highest rates are at the Department of Commerce FCU. Its 5-year CD yield was increased to 3.05%, and its 1-year CD yield was increased to 2.15%. Even its 6-month CD had a yield increase that moved it to a rate-leading level of 1.44%. With a $25k minimum deposit, an extra 10 bps are added to the standard CD yields.

NASA Federal Credit Union came out with higher yields on its three Special certificates: 2.35% (49-month), 1.85% (15-month) and 1.60% (9-month). The 9-month Special CD tops the “under 1-year” category”.

USALLIANCE Financial Credit Union also increased rates of its Certificate Specials. Its 18-month CD yield increased 20 bps to 1.95%, and its 11-month No-Penalty CD yield increased 60 bps to 1.25%.

The online CD average yields surged in April. The gains were the largest since I started tracking these averages in 2017.

In April, the average online 1-year CD yield increased 27.5 bps to 1.010%. For the first four months of 2022, the average online 1-year CD yield has almost doubled, rising from 0.508% to 1.010% (a gain of 50.2 bps.)

The average online 5-year CD yield increased even more. In April, the average increased 46.5 bps to 1.696%. For the first four months of 2022, the average online 5-year CD yield has almost doubled, rising from 0.857% to 1.696% (a gain of 83.9 bps.)

These averages are based on the 5-year Online CD Index and 1-year Online CD Index which are the average yields of ten online CD accounts from well-established online banks.

Noteworthy CD rate changes from the last two weeks are included below (All percentages are APYs).

I’ve separated them into three groups: 1) the popular banks, 2) the less well known banks that have been rate leaders, and 3) the credit unions with easy membership requirements.

Popular Online Banks:

  • Live Oak Bank (5y 2.00% → 2.75%, 18m 1.40% → 2.00%, 1y 1.25% → 1.75%)
  • Marcus by Goldman Sachs (5y 2.15% → 2.55%, 2y 1.60% → 2.00%, 1y 1.20% → 1.30%)
  • Synchrony Bank (5y 2.25% → 2.40%, 16m Spc 1.50% → 1.85%, 1y 1.00% → 1.30%)
  • TIAA Bank (5y 2.00% → 2.30%, 18m 1.30% → 1.60%)
  • Capital One (5y 2.15% → 2.25%, 2y 1.60% → 1.70%)
  • Barclays (5y 1.30% → 2.25%, 1y 0.80% → 1.30%)
  • Citizens Access (5y 0.25% → 2.20%, 1y 0.10% → 1.30%)
  • Discover Bank (5y 1.30% → 2.15%, 18m 0.90% → 1.50%, 1y 0.80% → 1.20%)
  • Ally Bank (5y 1.50% → 2.00%, 14m 1.25% → 1.50%, 11m NP 0.50% → 0.60%)
  • American Express (5y 1.25% → 2.00%, 2y 1.00% → 1.60%, 1y 0.20% → 1.00%)

Less well known banks that have been rate leaders in the past:

  • KS StateBank (5y 2.70% → 3.00%, 2y 1.35% → 2.60%, 1y 0.85% → 2.00%)
  • First National Bank of America (5y 2.05% → 2.80%, 1y 1.30% → 1.76%)
  • Merrick Bank (5y 2.16% → 2.81%, 2y 1.66% → 2.26%, 1y 1.46% → 1.76%)
  • Popular Direct (5y 2.06% → 2.70%, 2y 1.50% → 2.10%, 1y 0.90% → 1.55%)
  • Seattle Bank (5y 1.20% → 2.53%, 1y 0.75% → 1.71%)
  • CFG Bank (5y 2.25% → 2.52%, 1y 1.35% → 1.52%, 13m PF 0.87% → 1.07%)
  • ConnectOne Bank (58m 1.75% → 2.45%, 34m 1.75% → 2.25%, 13m 1.20% → 1.60%)
  • Rising Bank (3y 1.90% → 2.35%, 2y Jbo 1.10% → 2.25%, 1y 1.10% → 1.45%)
  • Credit One Bank NA (5y 2.20% → 2.30%, 1y 1.30% → 1.75%)
  • CFG Bank (5y 2.00% → 2.25%, 12m 1.25% → 1.35%)
  • MY Safra Bank (3y 2.07% → 2.24%, 2y 1.12% → 2.02%, 1y 1.01% → 1.52%)
  • My eBanc (3y 1.45% → 2.22%, 1.00% → 1.31%, 11m Flex 0.55% → 0.85%)
  • TAB Bank (5y 1.26% → 2.15%, 1y 0.85% → 1.30%, 9m 0.65% → 1.05%)
  • Luana Savings Bank (5y 1.97% → 2.07%, 1y 1.41% → 1.51%)
  • First Internet Bank (5y 1.81% → 2.02%, 1y 1.11% → 1.26%)
  • Salem Five Direct (2y 1.00% → 2.00%, New 18m 1.50%, 1y 0.35% → 1.00%)
  • Limelight Bank (3y 1.40% → 2.00%, 1y 1.10% → 1.50%, 6m 0.70% → 1.00%)
  • CFBank (2y 1.55% → 1.75%, 1y 1.25% → 1.35%)
  • My Banking Direct (3y 1.40% → 1.70%, 1y 1.05% → 1.50%)
  • TotalDirectBank (5y 0.50% → 1.70%, 1y 0.50% → 1.30%)
  • BankUnitedDirect (3y 0.10% → 1.65%, 2y 0.10% → 1.65%, 1y 0.15% → 1.20%)
  • The State Exchange Bank via SaveBetter (New 13m 1.55%, 7m 0.65% → 1.10%)
  • State Bank of Texas (1y 1.15% → 1.35%)
  • LendingClub Bank (1y 1.00% → 1.30%)
  • HSBC (2y 1.01% → 1.26%, 1y 0.75% → 1.01%, 6m 0.50% → 0.65%)
  • Ivy Bank (1y 0.60% → 1.15%)

Credit unions that have easy membership requirements:

  • Dept of Commerce FCU (5y 2.03% → 3.05%, 1y 1.21% → 2.15%)
  • Latino CU (5y Jbo 2.85% → 2.90%, 2y Jbo 2.35% → 2.60%, 1y Jbo 1.65% → 1.95%)
  • Teachers FCU (5y 2.00% → 2.50%, 18m 1.00% → 1.25%)
  • Langley FCU (5y 1.90% → 2.40%, New 27m Spc 2.25%, 1y 0.90% → 1.15%)
  • NASA FCU (49m Spc 1.80% → 2.35%, 15m Spc 1.20% → 1.85%, 9m Spc 0.90% → 1.60%)
  • Alliant CU (5y 2.00% → 2.25%, 18m 1.10% → 1.75%, 1y 1.00% → 1.25%)
  • AgFed CU (2.00% → 2.25%, 1y 0.90% → 1.05%)
  • Evansville Teachers FCU (5y 2.00% → 2.15%, 2y 1.40% → 1.50%)
  • Interior FCU (5y Jbo 1.53% → 2.08%, 1y Jbo 0.95% → 1.28%)
  • Credit Human CU (5y 1.90% → 2.00%, 1y 1.20% → 1.30%, 1y Liq 0.90% → 1.00%)
  • AgFed CU (5y 1.85% → 2.00%, 1y 0.85% → 0.90%)
  • Abound CU (New 35m Spc 2.00%, 26m Spc 1.40% → 1.60%, 13m Spc 1.15% → 1.40%)
  • USALLIANCE Financial CU (18m Spc 1.25% → 1.95%, 11m NP 0.65% → 1.25%)
  • Consumers CU (New: 22m SupJbo 1.90%, New 11m SupJbo 1.35%)
  • Credit Human CU (5y 1.80% → 1.90%, 1y Liq 0.80% → 0.90%)
  • Service CU (5y 0.85% → 1.90%, 18m 0.50% → 1.40%, 1y 0.50% → 1.00%)
  • CommunityWide FCU (5y 1.35% → 1.80%, 6m 0.90% → 0.95%)
  • Michigan State Univ FCU (4y 1.55% → 1.60%, 6m Jbo 0.80% → 0.95%)

Brokered CD Rates

For non-callable brokered CDs, all top CDs with maturities from 3 months to 5 years had rate gains in the last two weeks.

The 6-month CD rates finally reached 1%. The top 6-month rate at both Fidelity and Vanguard was 1.15%.

The 1-year CD rates finally reached 2%, and these were issued by several banks, including Ally, Barclays and Goldman Sachs.

In my last CD summary two weeks ago, we had our first 3% rate for 5-year non-callable brokered CDs. The 3% rate now extends down to 3-year terms. The top 3-, 4- and 5-year CD rates are 3.15%, 3.20% and 3.25%, respectively. At 2.95%, the top 2-year CD rate is not far behind. One interesting thing to note is that the issuing bank at Fidelity for this 2.95% 2-year CD was Ally.

One surprising thing this year has been the absence of non-callable 7-year and 10-year brokered CDs at both Fidelity or Vanguard. That condition changed today with the 10-year non-callable CD that Goldman Sachs Bank USA was listing at both Fidelity and Vanguard. The rate is only 3.00%, which is lower than the 3-, 4- and 5-year rates.

The callable feature gives the bank the right to redeem a CD early. That can save the bank money when interest rates fall. However, the CD holder loses out if rates fall and the CD is called early. When banks offer more callable long-term CDs and fewer non-callable long-term CDs, it’s a sign that they think rates are heading down.

Direct CD Rates and Deals

Crescent Bank’s CDs are new-to-summary (NTS), and their rates are currently near or equal to the rate leaders for terms from one to five years. These CDs are nationally available via an online application. The only problem is that the Bank is warning that these rates will only last through May 12th. Crescent Bank has been heavily advertising its CDs with similar limited-time warnings. So I wouldn’t be surprised if these rates continue after the 12th.

The highest CD rates for most terms are at the Department of Commerce FCU. Balances of at least $25k qualify for an additional 10 bps The APYs of these CDs with a $25k+ deposits are as follows:

  • 5-year: 3.15% APY
  • 4-year: 3.11% APY
  • 3-year: 3.09% APY
  • 2-year: 2.91% APY
  • 1-year: 2.25% APY
  • 6-month: 1.54% APY

For short-term CDs, NASA FCU has the highest rate with a 9-month Certificate Special that has a 1.60% APY.

If that is too long, USALLIANCE Financial Credit Union has a good deal on its 11-month No-Penalty CD (1.25% APY). The no-penalty feature allows customers to make the term anything they want from seven days to 11 months.

New Category - Nationally Available Add-On CDs

In August, a new category for nationally available add-on CDs was added near the bottom of the tables. These are CDs in which you can make one or more additional deposits during the term. Add-on CDs are most valuable when rates are falling.

The best deal now for add-on CDs is the 24-month Asset Builder Certificate at AgFed Credit Union. It has a 1.40% APY and a minimum deposit of only $25. Unlimited additional deposits are allowed.

The best add-on CDs have long terms, small minimum deposits, no maximum initial deposits and allow add-on deposits with no limits on the number of deposits or the size of deposits. These types of add-on CDs can be a great hedge against a long low-rate environment in which rates stay low or fall even lower. Deposit the minimum, and use the add-on CD as a back-up CD when your other CDs mature. If you can’t find a higher rate when the CD matures, you can always deposit the funds into the add-on CD.

Note, add-on CDs do have a risk that the institution could refuse to allow add-on deposits or may limit the amount of add-on deposits in contradiction to the original CD disclosure. A few credit unions in the past have failed to honor their add-on terms. I described one example in this 2014 blog post.

Savings and Money Market Accounts

We now have two liquid bank accounts that have yields of 1.25%. The first to offer this was SoFi Bank. Its Checking and Savings combo account has a 1.25% APY on all balances when the customer maintains direct deposit. Without direct deposit, the APY falls to 0.70% for all balances.

The other bank that also offers 1.25% APY is Bask Bank. It recently raised the yield of its Interest Savings Account from 0.80% to 1.25% for all balances. Unlike SoFi Bank, there are no direct deposit requirements to qualify for the 1.25% APY.

For more details about these three accounts, please refer to my latest liquid account summary.

Federal Reserve and Interest Rate Summary

The Fed and economy review is now split off on a separate blog post. My weekly summaries will now be focused entirely on deposit rates and deals. Please keep all discussion about the Fed, the economy and politics to my Fed/Economy review blog post.

Here's the link to last week's savings/checking account summary. You can always get the latest rates for savings/checking accounts and CDs by using our rate tables, available via the navigational menu on top.

Yields Accurate as of May 11, 2022

Under 1-Year CD Rates

InstitutionRatesNotes
NASA Federal Credit Union1.60% ($10k) 9-month Share Certificate SpecialEasy membership Account review
Fidelity Brokered CD1.55% (APR) 9-month non-callable CDIssued by BCLY, BoC, BoH, PWB*
The Vanguard Group Brokered CD1.55% (APR) 7-9 month non-callable CDIssued by BoC, BCLY, GSB, PWB*
Department of Commerce Federal Credit Union1.54 ($25k), 1.44% ($500) 6-11 month CD (**NTS)Easy membership See review
USALLIANCE Financial1.25% ($500) 11-month No-Penalty CD Easy membership Account review
Live Oak Bank1.25% ($2.5k) 6-month CDAccount review
Bellco Credit Union1.15% ($2.5k) 36-month Smart Move CDEasy membership - one partial withdrawal allowed, $1k min must be maintained See review
The Vanguard Group Brokered CD1.15% (APR) 4-6 month non-callable CDIssued by BoC, F3rdB, O1stB, SAFB*
Fidelity Brokered CD1.15% (APR) 6-month non-callable CDIssued by BoC, BoH, O1stB, PWB, WEB*
The State Exchange Bank (via SaveBetter.com)1.10% ($1) 7-month CDAccount review
CFG Bank1.07% ($500) 13-month Penalty Free CDAccount review
Luana Savings Bank1.06% ($100k), 0.95% ($50k) 6-month Certificate SpecialAccount review
Lafayette Federal Credit Union1.01% ($500) 7-month Fixed CD Easy membership - See review
Credit Human1.00% ($5k) 12-month Liquid CDEasy membership See review
Michigan State University Federal Credit Union0.95% ($100k) 6-month Jumbo CD (**NTS)Easy membership See review
CommunityWide Federal Credit Union0.95% ($1k) 6-month Share CertificateEasy membership Account review
Merrick Bank0.91% ($25k) 6-month CDAccount review
The Vanguard Group Brokered CD0.90% (APR) 1-3 month non-callable CDIssued by DIS, MFB, PWB, WEB*
CIBC Bank USA0.85% ($25k),0.80% ($1k) 9-month Agility CDAccount review
Fidelity Brokered CD0.80% (APR) 3-month non-callable CDIssued by BoH, FCMB, MFB, MZTB, WEB*
CFSB0.75% ($5k) 11-month No Penalty CDAccount review
Marcus by Goldman Sachs0.75% ($500) 8-month No-Penalty CD Available to active AAPR members only Account review
MainStreet Bank0.70% ($500) 1-year No Penalty CDAccount review
Synchrony Bank0.70% (no min) 11-month No-Penalty CD (**NTS)Account review
Ally Bank0.60% ($25k) 11-month No-Penalty CD Account review
Marcus by Goldman Sachs0.45% ($500) 7-month No-Penalty CD Account review

Noteworthy Local Deals - Under 1-Year CDs

OU Federal Credit Union1.51% ($1k) 6-month Share CertificateFaculty, staff, students of Oklahoma University; members of Oklahoma University Alumni Association
Woodlands National Bank1.21% ($50k) 9-month CD SpecialMinneapolis metro area See review
Michigan Schools and Government Credit Union1.20% ($500) 9-month CD Special Michigan See review
Riverside Bank of Dublin1.01% ($500) 6-month CD Columbus, Ohio metro area See review
TEXAR Federal Credit Union1.00% ($1k) 6-month Share Certificate4 Texas and 2 Arkansas counties See review

1-Year CD Rates

Department of Commerce Federal Credit Union2.25 ($25k), 2.15% ($500) 12-23 month CD (**NTS)Easy membership See review
Crescent Bank2.10% ($1k) 12-month CD (**NTS) Rate may change on May 13, 2022 Account review
KS StateBank2.00% ($500) 1-year CD (**NTS)Account review
The Vanguard Group Brokered CD2.00% (APR) 1-year non-callable CDIssued by GSB, MSB, MSPB, UBS*
Fidelity Brokered CD2.00% (APR) 1-year non-callable CDIssued by ALLY, BCLY, MSB, MSPB, SAND, UBS*
Latino Credit Union1.95% ($200k), 1.50% ($100k) 12-month Jumbo CDEasy membership See review
Merrick Bank1.76% ($25k) 12-month CDAccount review
Live Oak Bank1.75% ($2.5k) 1-year CD (**NTS)Account review
Credit One Bank, N.A.1.75% ($100k) 12-month Jumbo CD (**NTS)Account review
Seattle Bank1.71% ($1k) 12-month CD (**NTS)Account review
Abound Credit Union1.40% ($500) 13-month CD SpecialEasy membership See review
Credit Human1.30% ($1k) 12-17 month CD (**NTS)Easy membership See review
Interior Federal Credit Union1.28% ($100k) 12-month Jumbo Share Certificate (**NTS)Easy membership See review

Noteworthy Local Deals - 1-Year CDs

Schools Federal Credit Union2.50% APY ($5k min/$50k max; additional deposits throughout term up to $50k max) Special 12-month Relationship CDEmployees and students of Los Angeles Unified School District and Los Angeles Community College District
Sunlight Federal Credit Union1.77% ($500) 1-year CD Wyoming, Montana, and Colorado
Heritage Community Credit Union1.75% ($1k) 12-month Share Certificate Special (**NTS)Easy membership for California residents See review
Old Missouri Bank1.62% ($1k) 13-month Special Share Certificate (**NTS)Southwest Missouri
BLC Community Bank1.51% ($1k) 12-month CD Special NE Wisconsin

18-month CD Rates

The Vanguard Group Brokered CD2.40% (APR) 13-18 month non-callable CDIssued by MSB, MSPB*
Fidelity Brokered CD2.40% (APR) 18-month non-callable CDIssued by MSB, MSPB*
Crescent Bank2.30% ($1k) 18-month CD (**NTS) Rate may change on May 13, 2022 Account review
KS StateBank2.30% ($100k) 18-month Jumbo CD (**NTS)Account review
Department of Commerce Federal Credit Union2.25 ($25k), 2.15% ($500) 12-23 month CD (**NTS)Easy membership See review
Latino Credit Union2.10% ($200k), 1.60% ($100k) 18-month Jumbo CDEasy membership See review
Merrick Bank2.01% ($25k) 18-month CD Account review
Live Oak Bank2.00% ($2.5k) 18-month CD (**NTS)Account review
USALLIANCE Financial1.95% ($500) 18-month Certificate Special Easy membership Account review
Synchrony Bank1.85% (no min) 16-month CD SpecialAccount review
Ally Bank1.75% (no min) 20-month Select CD (**NTS) Account review
Alliant Credit Union1.75% ($25k) 18-23 month Jumbo Share CD (**NTS)Easy membership See review
PenFed Credit Union1.60% ($1k) 18-month Money Market Certificate Easy membership See review

Noteworthy Local Deals - 18-Month CDs

Hingham Institution for Savings1.66% ($5k) 18-month CD (**NTS)Greater Boston metro area
NextMark Credit Union1.51% ($500) 18-month Share Certificate Special (**NTS)7 northern Virgina counties and 5 cities
Bogota Savings Bank1.51% ($20k) 18-month CDNew Jersey See review
Institution for Savings1.50% ($500) 20-month CD Massachusetts North Shore See review
TEXAR Federal Credit Union1.50% ($1k) 18-month Share Certificate4 Texas and 2 Arkansas counties See review

2-Year CD Rates

Department of Commerce Federal Credit Union2.91% ($25k), 2.81% ($500) 24-35 month CD (**NTS)Easy membership See review
Fidelity Brokered CD2.95% (APR) 2-year non-callable CDIssued by ALLY*
The Vanguard Group Brokered CD2.90% (APR) 2-year non-callable CDIssued by MSB, MSPB*
KS StateBank2.60% ($1k) 2-year CD (**NTS)Account review
Latino Credit Union2.60% ($200k), 2.20% ($100k) 24-month Jumbo CDEasy membership See review
Crescent Bank2.50% ($1k) 24-month CD (**NTS) Rate may change on May 13, 2022 Account review
Merrick Bank2.26% ($25k) 24-month CD Account review
Langley Federal Credit Union2.25% ($500) 27-month CD Special (**NTS)Easy membership See review
Rising Bank2.25% ($100k) 2-year Jumbo CD (**NTS)Account review
First National Bank of America2.25% ($1k) 24-month CD Account review
Live Oak Bank2.20% ($2.5k) 2-year CD (**NTS)Account review
Connexus Credit Union2.00% ($5k) 24-month Certificate Easy membership See review
Veridian Credit Union1.90% ($100k) 24-month Jumbo CD Special Easy membership See review

Noteworthy Local Deals - 2-Year CDs

Old Missouri Bank2.28% ($1k) 17-month Special Share Certificate (**NTS)Southwest Missouri
Lubbock National Bank2.15% ($1k) 2-year CDMajor Texas metro areas
Bayport Credit Union2.00% ($5k) 25-month Flex Share Certificate (**NTS)7 Virginia counties and Hampton Roads area, 2 North Carolina counties
Family First Federal Credit Union2.00% ($500) 22-month CD Special (**NTS)5 New York Finger Lakes counties See review
First Financial Credit Union2.00% ($1k) 22-month Promo CD (**NTS)Chicagoland See review

3-Year CD Rates

Fidelity Brokered CD3.15% (APR) 3-year non-callable CDIssued by MSB, MSPB*
The Vanguard Group Brokered CD3.15% (APR) 3-year non-callable CDIssued by MSB, MSPB*
Department of Commerce Federal Credit Union3.09% ($25k), 2.99% ($500) 36-47 month CD (**NTS)Easy membership See review
Crescent Bank2.90% ($1k) 36-month CD (**NTS) Rate may change on May 13, 2022 Account review
KS StateBank2.85% ($100k) 3-year CD (**NTS)td>Account review
Latino Credit Union2.80% ($200k), 2.20% ($100k) 36-month Jumbo CDEasy membership See review
Rising Bank2.35% ($1k) 3-year Term CD Account review
First National Bank of America2.35% ($1k) 36-month CD (**NTS) Account review
Merrick Bank2.36% ($25k) 36-month CD Account review
Seattle Bank2.33% ($1k) 36-month CD (**NTS)Account review
Connexus Credit Union2.20% ($5k) 36-month Certificate Easy membership See review
Veridian Credit Union2.15% ($100k) 36-month Jumbo CD Special Easy membership See review
PenFed Credit Union2.10% ($1k) 3-year Money Market CertificateEasy membership See review

Noteworthy Local Deals - 3-Year CDs

National Bank of New York City2.50% ($2.5k) 42-47 month CD (**NTS)NYC Tri-state area See review
Sunlight Federal Credit Union2.28% ($500) 3-year CD Wyoming, Montana, and Colorado
Granite Credit Union2.25% ($500) 40-month CD Special (**NTS)Salt Lake County, Utah See review
The Pioneer Savings Bank2.25% ($500) 3-year CD Special (**NTS)Greater Cleveland metro area See review
Heritage Credit Union2.20% ($5k) 36-month CD (*NTS)17 Wisconsin and 8 Illinois counties

4-Year CD Rates

The Vanguard Group Brokered CD3.20% (APR) 4-year non-callable CDIssued by MSB, MSPB*
Fidelity Brokered CD3.20% (APR) 4-year non-callable CDIssued by MSB, MSPB*
Department of Commerce Federal Credit Union3.11% ($25k), 3.01% ($500) 48-59 month CD (**NTS)Easy membership See review
Crescent Bank3.00% ($1k) 48-month CD (**NTS) Rate may change on May 13, 2022 Account review
KS StateBank2.90% ($500) 4-year CDAccount review
Latino Credit Union2.85% ($100k), 2.25% ($100k) 48-month Jumbo CD Easy membership See review
Merrick Bank2.56% ($25k) 48-month CDAccount review
First National Bank of America2.55% ($1k) 48-month CD (**NTS) Account review
Live Oak Bank2.50% ($2.5k) 4-year CD (**NTS)Account review
Seattle Bank2.43% ($1k) 48-month CD (**NTS)Account review
Connexus Credit Union2.40% ($5k) 48-month Certificate Easy membership See review
NASA Federal Credit Union2.35% ($10k) 49-month Share Certificate Special Easy membership Account review
PenFed Credit Union2.25% ($1k) 4-year Money Market CertificateEasy membership See review

Noteworthy Local Deals - 4-Year CDs

National Bank of New York City2.90% ($2.5k) 54-59 month CDNYC Tri-state area See review
National Bank of New York City2.80% ($2.5k) 48-53 month CDNYC Tri-state area See review
Heritage Credit Union2.40% ($5k) 48-month CD (**NTS)17 Wisconsin and 8 Illinois counties
First Bank of the Lake2.25% ($5k) 42-month CD Special (**NTS)Lake Ozark, Missouri area See review
First Financial Credit Union2.15% ($1k) 48-month Certificate (**NTS)Chicagoland See review

5-Year CD Rates

Fidelity Brokered CD3.25% (APR) 5-year non-callable CDIssued by MSB, MSPB*
The Vanguard Group Brokered CD3.25% (APR) 5-year non-callable CDIssued by MSB, MSPB*
Department of Commerce Federal Credit Union3.15% ($25k), 3.05% ($500) 60-84 month CD (**NTS)Easy membership See review
Crescent Bank3.10% ($1k) 60-month CD (**NTS) Rate may change on May 13, 2022 Account review
KS StateBank3.00% ($500) 5-year CD (**NTS)Account review
Latino Credit Union2.90% ($200k), 2.35% ($100k) 60-month Jumbo CDEasy membership See review
Merrick Bank2.81% ($25k) 60-month CD Account review
First National Bank of America2.80% ($1k) 60-month CD (**NTS) Account review
Live Oak Bank2.75% ($2.5k) 5-year CD (**NTS)Account review
Connexus Credit Union2.60% ($5k) 60-month Certificate Easy membership See review
Marcus by Goldman Sachs2.55% ($500) High-Yield 5 Year CDAccount review
PenFed Credit Union2.50% ($1k) 5-year Money Market CertificateEasy membership See review
Teachers Federal Credit Union2.50% ($1k) 60-month CD Easy membership See review

Noteworthy Local Deals - 5-Year CDs

National Bank of New York City3.00% ($2.5k) 60-month CDNYC Tri-state area See review
Sunlight Federal Credit Union2.79% ($500) 5-year CD Wyoming, Montana, and Colorado
Heritage Credit Union2.60% ($5k) 60-month CD (**NTS)17 Wisconsin and 8 Illinois counties
Suffolk Federal Credit Union2.50% ($500) 60-month Certificate (**NTS)Nassau and Suffolk Counties, New York
Woodlands National Bank2.43% ($50k) 54-month CD SpecialMinneapolis metro area See review

Over 5-Year CD Rates

Department of Commerce Federal Credit Union3.15% ($25k), 3.05% ($500) 60-84 month CD (**NTS)Easy membership See review
KS StateBank3.00% ($500) 7-year CDAccount review
The Vanguard Group Brokered CD3.00% (APR) 10-year non-callable CDIssued by GSB*
Fidelity Brokered CD3.00% (APR) 10-year non-callable CDIssued by GSB*
First National Bank of America2.90% ($1k) 84-month CD Account review
First National Bank of America2.85% ($1k) 72-month CD Account review
PenFed Credit Union2.75% ($1k) 7-year Money Market CertificateEasy membership See review
Marcus by Goldman Sachs2.55% ($500) High-Yield 6 Year CD Account review
Evansville Teachers Federal Credit Union2.25% ($1k) 6-year CDEasy membership See review
Luana Savings Bank2.22% ($100k), 2.02% ($50k) 7-year CD Account review
Credit Human2.20% ($1k) 120-month CDEasy membership See review
Luana Savings Bank2.17% ($100k), 2.07% ($50k) 6-year CD Account review
AFFCU1.50% ($1k) 7-year Share CertificateEasy membership See review

Noteworthy Local Deals - Over 5-year CDs

PeoplesChoice Credit Union2.53% ($500) 84-month CD SpecialYork and Cumberland Counties, Maine See review
First Central Savings Bank2.12% ($500) 84-month In-branch CD (**NTS)Queens and Long Island, New York
Security Service Federal Credit Union2.00% ($50k), 1.95% ($25k), 1.90% ($500) 7-year CDColorado, Texas, and Utah See review
Bayport Credit Union1.79% ($100k) 84-month Share Certificate Special (**NTS)7 Virginia counties and Hampton Roads area, 2 North Carolina counties
Argentine Federal Savings1.77% ($1k) 120-month CDKansas City metro area

*ALLY (Ally Bank), BCLY (Barclays Bank), BoC (Bank of China), BoH (Bank of Hope), DIS (Discover Bank), F3rdB (Fifth Third Bank), FCMB (First Commercial Bank), GCB (Goldman Sachs Bank), MFB (MidFirst Bank OK), MSB (Morgan Stanley Bank), MSPB (Morgan Stanley Private Bank), MZTB (Mizrahi Tefahot Bank), O1stB (OceanFirst Bank), PWB (Pacific Western Bank), SAFB (Safra Bank), SAND (Sandy Spring Bank), UBS (UBS Bank USA), WEB (WEB Bank)

**New To Summary, as of May 11, 2022

Nationally Available Add-On CD Rates

InstitutionRatesNotes
Navy Federal Credit Union3.00% ($50 min/$3k max) 12-month Special Easy Start CDUnlimited deposits throughout term, checking relationship, direct deposit Account review
My Banking Direct1.50% ($500) 12-month CDUnlimited additional deposits See review
AgFed Credit Union1.40% ($25) 24-month Asset Builder CertificateUnlimited additional deposits of any amount See review
Rising Bank1.25% ($25k min) 36-month Rising CDTwo additional deposits during term Account review
Rising Bank1.25% ($5k min) 18-month Rising CDOne additional deposit during term Account review
Bellco Credit Union1.15% ($2.5k) 36-month Smart Move CDOne-time additional deposit of $100+, one partial withdrawal allowed, $1k min must be maintained See review
Evansville Teachers Federal Credit Union1.05% ($25) 1-year Save to Win CertificateUnlimited deposits throughout term See review
Achieva Credit Union1.05% ($75k), 0.95 ($500) 42-month Promotional CDUnlimited additional deposits See review
Michigan State University Federal Credit Union1.05% ($100k) 1-year Add-On Jumbo CDA total of $10k in additional deposits per member Account review
Credit Human1.00% ($5k) 12-month Liquid CDEasy membership See review
AgFed Credit Union0.99% ($25) 18-month Asset Builder Certificate Unlimited additional deposits of any amount See review
Heartland Credit Union (KS)0.90% ($100k), 0.85% ($25k), 0.80% ($500 min) 30-Month Add-On CDUnlimited deposits ($500 min) throughout term Account review
Mountain America Credit Union1.00% ($5 min/$100k max) 60-month Growth CDUnlimited deposits throughout term, min $10 automatic monthly deposit See review
Mountain America Credit Union0.85% ($5 min/$100k max) 48-month Growth CDUnlimited deposits throughout term, min $10 automatic monthly deposit See review
AgFed Credit Union0.80% ($25) 12-month Asset Builder Certificate Unlimited additional deposits of any amount See review
Michigan State University Federal Credit Union0.80% ($50) 1-year Add-On CDA total of $10k in additional deposits per member) Account review
Vibrant Credit Union0.80% ($100 min) 5-Year Add-On CDUnlimited deposits throughout term Account review
Pen Air Federal Credit Union0.65% ($500 min) 15-month Add-On CDUnlimited deposits throughout term Account review
Blue Federal Credit Union0.60% ($100k), 0.55% ($50k), 0.50% ($2k) 30-month Expandable CDUnlimited deposits throughout term Account review
Bank5 Connect0.50% ($500 min) 24-month Investment CDUnlimited deposits throughout term Account review
Navy Federal Credit Union0.50% ($100 min) 12-month Easy Start CDUnlimited deposits throughout term Account review

CDs Removed Due To Low Rates Or Expired Specials

CDs Removed, No Longer Available

Zing Credit Union (formerly Denver Community Credit Union)2.00% ($100) 17-month CD Special Easy membership in Colorado See review
Consumers Credit Union (IL)1.30% ($250k) 16-month Super Jumbo CD Easy membership See review

CDs Removed, Rate Too Low

Advancial0.92% ($50k) 6-month Jumbo CertificatePossible easy membership - membership and CD eligibility have been restricted in the past
EFCU Financial0.85% ($100k) 6-month Jumbo CDEasy membership See review
Hughes Federal Credit Union0.85% ($99k) 6-month Jumbo CD Easy membership See review
NexBank0.70% ($250k) 6-month Promotional Online Jumbo CD Account review
Luana Savings Bank1.51% ($100k), 1.41% ($1k) 12-month CDAccount review
M.Y. Safra Bank1.46% ($1k) 12 Month MYSB Direct Online CD See review
CFSB1.35% ($5k) 12-month CD Account review
Advancial1.35% ($50k) 1-year Jumbo CertificatePossible easy membership - membership and CD eligibility have been restricted in the past See review
Ponce Bank (via SaveBetter.com)1.31% ($1) 13-month High-Yield CD Account review
PenFed Credit Union1.25% ($1k) 12-month Money Market Certificate Easy membership See review
Connexus Credit Union1.25% ($5k) 12-month CertificateEasy membership See review
Lafayette Federal Credit Union1.21% ($500) 1-year Fixed CD Easy membership See review
Democracy Federal Credit Union1.51% ($500) 12-month IRA Share CertificateWashington, D.C. metro area See review
TEXAR Federal Credit Union1.35% ($1k) 12-month Share Certificate4 Texas and 2 Arkansas counties See review
Keesler Federal Credit Union1.05% ($25, unlimited deposits) 1-year FirstStep CDEasy membership in AL, LA, and MS See review
Luana Savings Bank1.66% ($100k), 1.56% ($1k) 18-month CD Account review
Advancial1.56% ($50k) 18-month Jumbo CertificatePossible easy membership - membership and CD eligibility have been restricted in the past See review
mph.bank (via SaveBetter.com)1.50% ($1) 15-month High-Yield CD Account review
Marcus by Goldman Sachs1.50% ($500) 18-month CD Account review
American Heritage Federal Credit Union1.45% ($1k) 18-month Share Certificate (Legacy Club)Easy membership See review
American Heritage Federal Credit Union1.35% ($1k) 18-month Share CertificateEasy membership See review
Alltrust Credit Union1.50% ($2.5k) 16-month Special Certificate 6 Massachusetts counties and all of Rhode Island See review
M.Y. Safra Bank2.02% ($1k) 24-month MYSB Direct Online CD See review
Luana Savings Bank1.82% ($100k), 1.71% ($1k) 24-month CDAccount review
Advancial1.77% ($50k) 2-year Jumbo CertificatePossible easy membership - membership and CD eligibility have been restricted in the past See review
PenFed Credit Union1.75% ($1k) 2-year Money Market Certificate Easy membership See review
CFSB1.70% ($5k) 24-month CDAccount review
Genisys Credit Union1.60% ($100k) 25-month Share Certificate Special Easy membership See review
Woodlands National Bank1.94% ($20k) 2-year CD Minneapolis metro area See review
Inspire Federal Credit Union1.81% ($500) 21-month Share Certificate Special Bucks County, Pennsylvania See review
First Financial Credit Union1.80% ($100k), 1.70% ($5k), 1.60% ($1k) 24-month Certificate Chicagoland See review
Frost Bank1.80% ($100k), 1.52% ($1k) 24-month CDMajor Texas metro areas
M.Y. Safra Bank2.07% ($1k) 36 Month MYSB Direct Online CD See review
MapleMark Bank2.05% ($25k) 36-month CDEasy membership See review
Credit One Bank2.00% ($100k) 36-month Jumbo CD Account review
Advancial1.99% ($50k) 3-year Jumbo CertificatePossible easy membership - membership and CD eligibility have been restricted in the past See review
CFSB1.90% ($5k) 36-month CDAccount review
Southwest Heritage Credit Union2.07% ($1k) 36-month CD 6 Texas counties
American National Bank & Trust2.02% ($1k) 3-year CDDenton, Fort Worth, and Wichita Falls, Texas
Northland Area Federal Credit Union2.02% ($500) 30-month Regular CD 21 Northern Michigan counties
Inspire Federal Credit Union2.01% ($500) 31-month Share Certificate SpecialBucks County, Pennsylvania See review
Bethpage Federal Credit Union2.00% ($50) 36-month Certificate Easy membership in CT, NJ, and NY See review
Hudson Valley Credit Union1.75% ($500) 24-month CD Special 12 Hudson Valley (NY) counties See review
M.Y. Safra Bank2.27% ($1k) 48-month MYSB Direct Online CD See review
Advancial2.04% ($50k) 4-year Jumbo Certificate Possible easy membership - membership and CD eligibility have been restricted in the past See review
Luana Savings Bank2.02% ($100k), 1.92% ($1k) 48-month CDAccount review
Third Federal Savings and Loan2.00% ($500) 49-month CD Special Account review
USALLIANCE Financial2.00% ($500) 48-month Certificate Special Easy membership Account review
State Bank of India1.92% ($25k) 4-year Senior Citizen CD Account review
American National Bank & Trust2.12% ($1k) 4-year CD Denton, Fort Worth, and Witchita Falls, Texas
First Financial Credit Union2.15% ($100k), 2.10% ($5k), 2.05% ($1k) 48-month Certificate Chicagoland See review
INOVA Federal Credit Union2.00% ($200) 4-year CD Northern Indiana and San Francisco Bay area See review
Credit One Bank2.30% ($100k) 60-month Jumbo CDAccount review
M.Y. Safra Bank2.27% ($1k) 60-month MYSB Direct Online CD See review
Synchrony Bank2.40% (no min) 60-month CDAccount review
Alliant Credit Union2.25% ($25k) 60-month Jumbo Share CD Easy membership See review
Marcus by Goldman Sachs2.15% ($500) High-Yield 5 Year CD Account review
CFSB2.15% ($1k) 60-month CD SpecialAccount review
Advancial2.09% ($50k) 5-year Jumbo CertificatePossible easy membership - membership and CD eligibility have been restricted in the past See review
INOVA Federal Credit Union2.25% ($200) 5-year CDNorthern Indiana and San Francisco Bay area See review
American National Bank & Trust2.22% ($1k) 5-year CDDenton, Fort Worth, and Witchita Falls, Texas
Superior Choice Credit Union1.50% ($2.5k) 7-year Share CertificateEasy membership See review
State Nebraska Bank & Trust1.75% ($25k) 10-year Bank 4Ward CD SpecialEastern Nebraska
Related Pages: 1-year CD rates, 5-year CD rates, nationwide deals, Internet banks
Comments
Shelby
  |     |   Comment #1
Where will 5yr. CD interest rates be in November if the 10y. treasury is at 3.25% to 3.50% in November as well? And after continued tightening by the fed. North of 4%?
Kaight
  |     |   Comment #2
It's difficult to make predictions, especially about the future and for November in particular. The election then could easily cause distortions during the runup which will not resolve until after voting is over. As for your 4% question:

Should inflation continue, between now and November, to be rampaging unabated then, sure, we could see 4% on five year CDs. But if inflation by then is showing signs of abating I doubt the financial institutions will make the same mistake some (e.g., Sharonview, Garden Savings) did back several years ago. It's a long time between now and November. And there are a great many unknowns.
deplorable_1
  |     |   Comment #3
I won't try and predict where 5 yr. CD rates will be in November because banks tend to drag their feet even longer than the FED when raising rates. I will say however I do believe we will see 5%+ 5-7 yr. CD's before this current rate hike cycle is over even if these are just short lived specials. To that end I'm keeping plenty of liquid cash available to take advantage of these higher rates once they become available. Looks like the market is headed down anyway and interest rates on saving/MMA's will be on the rise soon enough. Time for a shift in strategy.
P_D
  |     |   Comment #4
If the economy takes a nosedive and consumers stop borrowing and buying, and/or the real estate bubble bursts, there won't be much demand for cash. That could bring rates down in a hurry.

On the other hand the government has chosen to inflate its way out of the reckless spending spree it is now engaging in which puts upward pressure on rates and it is pushing for even more reckless spending which would lead to even more inflation.

I think rate forecasting is probably the most difficult it has been for a very long time. There is more turmoil in the country and in the world than there has been for many decades. Suddenly we went from a world at unprecedented peace and an American economy leading the way, to a world on the brink of world war and an American economy teetering on bankruptcy. That kind of turmoil makes predictions about interest rates very speculative.
Mak
  |     |   Comment #5
P_D... well said.
Look at the 10 year yield, down to 2.85% from 3.12%., I don't know how we'll see a 5% CD if the 10 year can't get above 3.25% but I'll keep my fingers crossed...;)
Robb
  |     |   Comment #10
Mak after breaking through our multi-decade downtrend line on the TNX near the 2.5% level it should not be a surprise if we were to go back and test that general area.
Mak
  |     |   Comment #13
Robb...agree with that but I have that trend line at about 2.3%, anyways 3.25% is the one I am watching.
Mak
  |     |   Comment #6
A lot of fear in the market, more than I've seen in quite a while. I've been expecting close to a 20% drop on the spx before we could get a big rally, we're there now so if we don't rally I will have to join the fear camp...;)
lostsoul
  |     |   Comment #7
lol.. Time to cut bait . I put everything I can into the safe boring stuff and holding on to cash like Deplorable stated.. We are going to be on one hell of a ride. I just wish they would just get it going instead of the temp prop ups. Lets do this...
Mak
  |     |   Comment #14
Just looking for a rally not anything else, think it eventually goes lower.
Human
  |     |   Comment #8
I have most of my funds at %3.30 with GTE until mid 2024. I hope the rates don't crash by then or at least be able to get another add on cd before then.
Choice
  |     |   Comment #9
And, at what rate would you consider redeeming that existing GTE CD (considering ewp) for a new 5 year term? Tempting? Or going to GTE and ask them to match___ with a add-on?
Robb
  |     |   Comment #11
Choice can’t see GTE matching a higher rate given their current 5 year CD offering is a paltry .20%. Once bitten twice shy applies here!
Human
  |     |   Comment #12
I didn't like to give them 6 month of penalty. I don't think they are in the mood to match anything. I just have to find another add on somewhere else.
111
  |     |   Comment #16
#9 - Choice, I suspect that requesting an FI today (GTE or otherwise) to "match" a CD, add-on or not, that was initiated from 2017 through early or even mid-2019 at a decent rate, is likely to elicit a negative response. Most of them just don't need our cash that much.

But sure, one can always try. Please let us know how it turns out.
Choice
  |     |   Comment #17
If they don’t need the cash…what are they going to do when the withdrawal run starts for higher rates?  Wait or preemptive strike…and fiduciary duties are owed to whom?  As to the CD holder…they should/could be crafting arguments to..!
Smokeboat
  |     |   Comment #18
Pull a Fort Knox, then change the name. Painted into the corner in 2008. Too much greed and corruption not enough love of country. Rat race is over, rats prevailed.
FirstNation
  |     |   Comment #15
Those Ally brokered CD's at Fidelity are not call protected.

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