CD Rates Summary
Federal Reserve, the Economy and CD Rate Forecast - May 10, 2022
Fed Meeting: 50-bp Rate Hike with More To Come - Strategy for SaversCD Rates Summary
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, 2022Under 1-Year CD Rates
| Institution | Rates | Notes |
|---|---|---|
| NASA Federal Credit Union | 1.60% ($10k) 9-month Share Certificate Special | Easy membership Account review |
| Fidelity Brokered CD | 1.55% (APR) 9-month non-callable CD | Issued by BCLY, BoC, BoH, PWB* |
| The Vanguard Group Brokered CD | 1.55% (APR) 7-9 month non-callable CD | Issued by BoC, BCLY, GSB, PWB* |
| Department of Commerce Federal Credit Union | 1.54 ($25k), 1.44% ($500) 6-11 month CD (**NTS) | Easy membership See review |
| USALLIANCE Financial | 1.25% ($500) 11-month No-Penalty CD | Easy membership Account review |
| Live Oak Bank | 1.25% ($2.5k) 6-month CD | Account review |
| Bellco Credit Union | 1.15% ($2.5k) 36-month Smart Move CD | Easy membership - one partial withdrawal allowed, $1k min must be maintained See review |
| The Vanguard Group Brokered CD | 1.15% (APR) 4-6 month non-callable CD | Issued by BoC, F3rdB, O1stB, SAFB* |
| Fidelity Brokered CD | 1.15% (APR) 6-month non-callable CD | Issued by BoC, BoH, O1stB, PWB, WEB* |
| The State Exchange Bank (via SaveBetter.com) | 1.10% ($1) 7-month CD | Account review |
| CFG Bank | 1.07% ($500) 13-month Penalty Free CD | Account review |
| Luana Savings Bank | 1.06% ($100k), 0.95% ($50k) 6-month Certificate Special | Account review |
| Lafayette Federal Credit Union | 1.01% ($500) 7-month Fixed CD | Easy membership - See review |
| Credit Human | 1.00% ($5k) 12-month Liquid CD | Easy membership See review |
| Michigan State University Federal Credit Union | 0.95% ($100k) 6-month Jumbo CD (**NTS) | Easy membership See review |
| CommunityWide Federal Credit Union | 0.95% ($1k) 6-month Share Certificate | Easy membership Account review |
| Merrick Bank | 0.91% ($25k) 6-month CD | Account review |
| The Vanguard Group Brokered CD | 0.90% (APR) 1-3 month non-callable CD | Issued by DIS, MFB, PWB, WEB* |
| CIBC Bank USA | 0.85% ($25k),0.80% ($1k) 9-month Agility CD | Account review |
| Fidelity Brokered CD | 0.80% (APR) 3-month non-callable CD | Issued by BoH, FCMB, MFB, MZTB, WEB* |
| CFSB | 0.75% ($5k) 11-month No Penalty CD | Account review |
| Marcus by Goldman Sachs | 0.75% ($500) 8-month No-Penalty CD | Available to active AAPR members only Account review |
| MainStreet Bank | 0.70% ($500) 1-year No Penalty CD | Account review |
| Synchrony Bank | 0.70% (no min) 11-month No-Penalty CD (**NTS) | Account review |
| Ally Bank | 0.60% ($25k) 11-month No-Penalty CD | Account review |
| Marcus by Goldman Sachs | 0.45% ($500) 7-month No-Penalty CD | Account review |
Noteworthy Local Deals - Under 1-Year CDs
| OU Federal Credit Union | 1.51% ($1k) 6-month Share Certificate | Faculty, staff, students of Oklahoma University; members of Oklahoma University Alumni Association |
| Woodlands National Bank | 1.21% ($50k) 9-month CD Special | Minneapolis metro area See review |
| Michigan Schools and Government Credit Union | 1.20% ($500) 9-month CD Special | Michigan See review |
| Riverside Bank of Dublin | 1.01% ($500) 6-month CD | Columbus, Ohio metro area See review |
| TEXAR Federal Credit Union | 1.00% ($1k) 6-month Share Certificate | 4 Texas and 2 Arkansas counties See review |
1-Year CD Rates
| Department of Commerce Federal Credit Union | 2.25 ($25k), 2.15% ($500) 12-23 month CD (**NTS) | Easy membership See review |
| Crescent Bank | 2.10% ($1k) 12-month CD (**NTS) | Rate may change on May 13, 2022 Account review |
| KS StateBank | 2.00% ($500) 1-year CD (**NTS) | Account review |
| The Vanguard Group Brokered CD | 2.00% (APR) 1-year non-callable CD | Issued by GSB, MSB, MSPB, UBS* |
| Fidelity Brokered CD | 2.00% (APR) 1-year non-callable CD | Issued by ALLY, BCLY, MSB, MSPB, SAND, UBS* |
| Latino Credit Union | 1.95% ($200k), 1.50% ($100k) 12-month Jumbo CD | Easy membership See review |
| Merrick Bank | 1.76% ($25k) 12-month CD | Account review |
| Live Oak Bank | 1.75% ($2.5k) 1-year CD (**NTS) | Account review |
| Credit One Bank, N.A. | 1.75% ($100k) 12-month Jumbo CD (**NTS) | Account review |
| Seattle Bank | 1.71% ($1k) 12-month CD (**NTS) | Account review |
| Abound Credit Union | 1.40% ($500) 13-month CD Special | Easy membership See review |
| Credit Human | 1.30% ($1k) 12-17 month CD (**NTS) | Easy membership See review |
| Interior Federal Credit Union | 1.28% ($100k) 12-month Jumbo Share Certificate (**NTS) | Easy membership See review |
Noteworthy Local Deals - 1-Year CDs
| Schools Federal Credit Union | 2.50% APY ($5k min/$50k max; additional deposits throughout term up to $50k max) Special 12-month Relationship CD | Employees and students of Los Angeles Unified School District and Los Angeles Community College District |
| Sunlight Federal Credit Union | 1.77% ($500) 1-year CD | Wyoming, Montana, and Colorado |
| Heritage Community Credit Union | 1.75% ($1k) 12-month Share Certificate Special (**NTS) | Easy membership for California residents See review |
| Old Missouri Bank | 1.62% ($1k) 13-month Special Share Certificate (**NTS) | Southwest Missouri |
| BLC Community Bank | 1.51% ($1k) 12-month CD Special | NE Wisconsin |
18-month CD Rates
| The Vanguard Group Brokered CD | 2.40% (APR) 13-18 month non-callable CD | Issued by MSB, MSPB* |
| Fidelity Brokered CD | 2.40% (APR) 18-month non-callable CD | Issued by MSB, MSPB* |
| Crescent Bank | 2.30% ($1k) 18-month CD (**NTS) | Rate may change on May 13, 2022 Account review |
| KS StateBank | 2.30% ($100k) 18-month Jumbo CD (**NTS) | Account review |
| Department of Commerce Federal Credit Union | 2.25 ($25k), 2.15% ($500) 12-23 month CD (**NTS) | Easy membership See review |
| Latino Credit Union | 2.10% ($200k), 1.60% ($100k) 18-month Jumbo CD | Easy membership See review |
| Merrick Bank | 2.01% ($25k) 18-month CD | Account review |
| Live Oak Bank | 2.00% ($2.5k) 18-month CD (**NTS) | Account review |
| USALLIANCE Financial | 1.95% ($500) 18-month Certificate Special | Easy membership Account review |
| Synchrony Bank | 1.85% (no min) 16-month CD Special | Account review |
| Ally Bank | 1.75% (no min) 20-month Select CD (**NTS) | Account review |
| Alliant Credit Union | 1.75% ($25k) 18-23 month Jumbo Share CD (**NTS) | Easy membership See review |
| PenFed Credit Union | 1.60% ($1k) 18-month Money Market Certificate | Easy membership See review |
Noteworthy Local Deals - 18-Month CDs
| Hingham Institution for Savings | 1.66% ($5k) 18-month CD (**NTS) | Greater Boston metro area |
| NextMark Credit Union | 1.51% ($500) 18-month Share Certificate Special (**NTS) | 7 northern Virgina counties and 5 cities |
| Bogota Savings Bank | 1.51% ($20k) 18-month CD | New Jersey See review |
| Institution for Savings | 1.50% ($500) 20-month CD | Massachusetts North Shore See review |
| TEXAR Federal Credit Union | 1.50% ($1k) 18-month Share Certificate | 4 Texas and 2 Arkansas counties See review |
2-Year CD Rates
| Department of Commerce Federal Credit Union | 2.91% ($25k), 2.81% ($500) 24-35 month CD (**NTS) | Easy membership See review |
| Fidelity Brokered CD | 2.95% (APR) 2-year non-callable CD | Issued by ALLY* |
| The Vanguard Group Brokered CD | 2.90% (APR) 2-year non-callable CD | Issued by MSB, MSPB* |
| KS StateBank | 2.60% ($1k) 2-year CD (**NTS) | Account review |
| Latino Credit Union | 2.60% ($200k), 2.20% ($100k) 24-month Jumbo CD | Easy membership See review |
| Crescent Bank | 2.50% ($1k) 24-month CD (**NTS) | Rate may change on May 13, 2022 Account review |
| Merrick Bank | 2.26% ($25k) 24-month CD | Account review |
| Langley Federal Credit Union | 2.25% ($500) 27-month CD Special (**NTS) | Easy membership See review |
| Rising Bank | 2.25% ($100k) 2-year Jumbo CD (**NTS) | Account review |
| First National Bank of America | 2.25% ($1k) 24-month CD | Account review |
| Live Oak Bank | 2.20% ($2.5k) 2-year CD (**NTS) | Account review |
| Connexus Credit Union | 2.00% ($5k) 24-month Certificate | Easy membership See review |
| Veridian Credit Union | 1.90% ($100k) 24-month Jumbo CD Special | Easy membership See review |
Noteworthy Local Deals - 2-Year CDs
| Old Missouri Bank | 2.28% ($1k) 17-month Special Share Certificate (**NTS) | Southwest Missouri |
| Lubbock National Bank | 2.15% ($1k) 2-year CD | Major Texas metro areas |
| Bayport Credit Union | 2.00% ($5k) 25-month Flex Share Certificate (**NTS) | 7 Virginia counties and Hampton Roads area, 2 North Carolina counties |
| Family First Federal Credit Union | 2.00% ($500) 22-month CD Special (**NTS) | 5 New York Finger Lakes counties See review |
| First Financial Credit Union | 2.00% ($1k) 22-month Promo CD (**NTS) | Chicagoland See review |
3-Year CD Rates
| Fidelity Brokered CD | 3.15% (APR) 3-year non-callable CD | Issued by MSB, MSPB* |
| The Vanguard Group Brokered CD | 3.15% (APR) 3-year non-callable CD | Issued by MSB, MSPB* |
| Department of Commerce Federal Credit Union | 3.09% ($25k), 2.99% ($500) 36-47 month CD (**NTS) | Easy membership See review |
| Crescent Bank | 2.90% ($1k) 36-month CD (**NTS) | Rate may change on May 13, 2022 Account review |
| KS StateBank | 2.85% ($100k) 3-year CD (**NTS)td> | Account review |
| Latino Credit Union | 2.80% ($200k), 2.20% ($100k) 36-month Jumbo CD | Easy membership See review |
| Rising Bank | 2.35% ($1k) 3-year Term CD | Account review |
| First National Bank of America | 2.35% ($1k) 36-month CD (**NTS) | Account review |
| Merrick Bank | 2.36% ($25k) 36-month CD | Account review |
| Seattle Bank | 2.33% ($1k) 36-month CD (**NTS) | Account review |
| Connexus Credit Union | 2.20% ($5k) 36-month Certificate | Easy membership See review |
| Veridian Credit Union | 2.15% ($100k) 36-month Jumbo CD Special | Easy membership See review |
| PenFed Credit Union | 2.10% ($1k) 3-year Money Market Certificate | Easy membership See review |
Noteworthy Local Deals - 3-Year CDs
| National Bank of New York City | 2.50% ($2.5k) 42-47 month CD (**NTS) | NYC Tri-state area See review |
| Sunlight Federal Credit Union | 2.28% ($500) 3-year CD | Wyoming, Montana, and Colorado |
| Granite Credit Union | 2.25% ($500) 40-month CD Special (**NTS) | Salt Lake County, Utah See review |
| The Pioneer Savings Bank | 2.25% ($500) 3-year CD Special (**NTS) | Greater Cleveland metro area See review |
| Heritage Credit Union | 2.20% ($5k) 36-month CD (*NTS) | 17 Wisconsin and 8 Illinois counties |
4-Year CD Rates
| The Vanguard Group Brokered CD | 3.20% (APR) 4-year non-callable CD | Issued by MSB, MSPB* |
| Fidelity Brokered CD | 3.20% (APR) 4-year non-callable CD | Issued by MSB, MSPB* |
| Department of Commerce Federal Credit Union | 3.11% ($25k), 3.01% ($500) 48-59 month CD (**NTS) | Easy membership See review |
| Crescent Bank | 3.00% ($1k) 48-month CD (**NTS) | Rate may change on May 13, 2022 Account review |
| KS StateBank | 2.90% ($500) 4-year CD | Account review |
| Latino Credit Union | 2.85% ($100k), 2.25% ($100k) 48-month Jumbo CD | Easy membership See review |
| Merrick Bank | 2.56% ($25k) 48-month CD | Account review |
| First National Bank of America | 2.55% ($1k) 48-month CD (**NTS) | Account review |
| Live Oak Bank | 2.50% ($2.5k) 4-year CD (**NTS) | Account review |
| Seattle Bank | 2.43% ($1k) 48-month CD (**NTS) | Account review |
| Connexus Credit Union | 2.40% ($5k) 48-month Certificate | Easy membership See review |
| NASA Federal Credit Union | 2.35% ($10k) 49-month Share Certificate Special | Easy membership Account review |
| PenFed Credit Union | 2.25% ($1k) 4-year Money Market Certificate | Easy membership See review |
Noteworthy Local Deals - 4-Year CDs
| National Bank of New York City | 2.90% ($2.5k) 54-59 month CD | NYC Tri-state area See review |
| National Bank of New York City | 2.80% ($2.5k) 48-53 month CD | NYC Tri-state area See review |
| Heritage Credit Union | 2.40% ($5k) 48-month CD (**NTS) | 17 Wisconsin and 8 Illinois counties |
| First Bank of the Lake | 2.25% ($5k) 42-month CD Special (**NTS) | Lake Ozark, Missouri area See review |
| First Financial Credit Union | 2.15% ($1k) 48-month Certificate (**NTS) | Chicagoland See review |
5-Year CD Rates
| Fidelity Brokered CD | 3.25% (APR) 5-year non-callable CD | Issued by MSB, MSPB* |
| The Vanguard Group Brokered CD | 3.25% (APR) 5-year non-callable CD | Issued by MSB, MSPB* |
| Department of Commerce Federal Credit Union | 3.15% ($25k), 3.05% ($500) 60-84 month CD (**NTS) | Easy membership See review |
| Crescent Bank | 3.10% ($1k) 60-month CD (**NTS) | Rate may change on May 13, 2022 Account review |
| KS StateBank | 3.00% ($500) 5-year CD (**NTS) | Account review |
| Latino Credit Union | 2.90% ($200k), 2.35% ($100k) 60-month Jumbo CD | Easy membership See review |
| Merrick Bank | 2.81% ($25k) 60-month CD | Account review |
| First National Bank of America | 2.80% ($1k) 60-month CD (**NTS) | Account review |
| Live Oak Bank | 2.75% ($2.5k) 5-year CD (**NTS) | Account review |
| Connexus Credit Union | 2.60% ($5k) 60-month Certificate | Easy membership See review |
| Marcus by Goldman Sachs | 2.55% ($500) High-Yield 5 Year CD | Account review |
| PenFed Credit Union | 2.50% ($1k) 5-year Money Market Certificate | Easy membership See review |
| Teachers Federal Credit Union | 2.50% ($1k) 60-month CD | Easy membership See review |
Noteworthy Local Deals - 5-Year CDs
| National Bank of New York City | 3.00% ($2.5k) 60-month CD | NYC Tri-state area See review |
| Sunlight Federal Credit Union | 2.79% ($500) 5-year CD | Wyoming, Montana, and Colorado |
| Heritage Credit Union | 2.60% ($5k) 60-month CD (**NTS) | 17 Wisconsin and 8 Illinois counties |
| Suffolk Federal Credit Union | 2.50% ($500) 60-month Certificate (**NTS) | Nassau and Suffolk Counties, New York |
| Woodlands National Bank | 2.43% ($50k) 54-month CD Special | Minneapolis metro area See review |
Over 5-Year CD Rates
| Department of Commerce Federal Credit Union | 3.15% ($25k), 3.05% ($500) 60-84 month CD (**NTS) | Easy membership See review |
| KS StateBank | 3.00% ($500) 7-year CD | Account review |
| The Vanguard Group Brokered CD | 3.00% (APR) 10-year non-callable CD | Issued by GSB* |
| Fidelity Brokered CD | 3.00% (APR) 10-year non-callable CD | Issued by GSB* |
| First National Bank of America | 2.90% ($1k) 84-month CD | Account review |
| First National Bank of America | 2.85% ($1k) 72-month CD | Account review |
| PenFed Credit Union | 2.75% ($1k) 7-year Money Market Certificate | Easy membership See review |
| Marcus by Goldman Sachs | 2.55% ($500) High-Yield 6 Year CD | Account review |
| Evansville Teachers Federal Credit Union | 2.25% ($1k) 6-year CD | Easy membership See review |
| Luana Savings Bank | 2.22% ($100k), 2.02% ($50k) 7-year CD | Account review |
| Credit Human | 2.20% ($1k) 120-month CD | Easy membership See review |
| Luana Savings Bank | 2.17% ($100k), 2.07% ($50k) 6-year CD | Account review |
| AFFCU | 1.50% ($1k) 7-year Share Certificate | Easy membership See review |
Noteworthy Local Deals - Over 5-year CDs
| PeoplesChoice Credit Union | 2.53% ($500) 84-month CD Special | York and Cumberland Counties, Maine See review |
| First Central Savings Bank | 2.12% ($500) 84-month In-branch CD (**NTS) | Queens and Long Island, New York |
| Security Service Federal Credit Union | 2.00% ($50k), 1.95% ($25k), 1.90% ($500) 7-year CD | Colorado, Texas, and Utah See review |
| Bayport Credit Union | 1.79% ($100k) 84-month Share Certificate Special (**NTS) | 7 Virginia counties and Hampton Roads area, 2 North Carolina counties |
| Argentine Federal Savings | 1.77% ($1k) 120-month CD | Kansas 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
| Institution | Rates | Notes |
|---|---|---|
| Navy Federal Credit Union | 3.00% ($50 min/$3k max) 12-month Special Easy Start CD | Unlimited deposits throughout term, checking relationship, direct deposit Account review |
| My Banking Direct | 1.50% ($500) 12-month CD | Unlimited additional deposits See review |
| AgFed Credit Union | 1.40% ($25) 24-month Asset Builder Certificate | Unlimited additional deposits of any amount See review |
| Rising Bank | 1.25% ($25k min) 36-month Rising CD | Two additional deposits during term Account review |
| Rising Bank | 1.25% ($5k min) 18-month Rising CD | One additional deposit during term Account review |
| Bellco Credit Union | 1.15% ($2.5k) 36-month Smart Move CD | One-time additional deposit of $100+, one partial withdrawal allowed, $1k min must be maintained See review |
| Evansville Teachers Federal Credit Union | 1.05% ($25) 1-year Save to Win Certificate | Unlimited deposits throughout term See review |
| Achieva Credit Union | 1.05% ($75k), 0.95 ($500) 42-month Promotional CD | Unlimited additional deposits See review |
| Michigan State University Federal Credit Union | 1.05% ($100k) 1-year Add-On Jumbo CD | A total of $10k in additional deposits per member Account review |
| Credit Human | 1.00% ($5k) 12-month Liquid CD | Easy membership See review |
| AgFed Credit Union | 0.99% ($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 CD | Unlimited deposits ($500 min) throughout term Account review |
| Mountain America Credit Union | 1.00% ($5 min/$100k max) 60-month Growth CD | Unlimited deposits throughout term, min $10 automatic monthly deposit See review |
| Mountain America Credit Union | 0.85% ($5 min/$100k max) 48-month Growth CD | Unlimited deposits throughout term, min $10 automatic monthly deposit See review |
| AgFed Credit Union | 0.80% ($25) 12-month Asset Builder Certificate | Unlimited additional deposits of any amount See review |
| Michigan State University Federal Credit Union | 0.80% ($50) 1-year Add-On CD | A total of $10k in additional deposits per member) Account review |
| Vibrant Credit Union | 0.80% ($100 min) 5-Year Add-On CD | Unlimited deposits throughout term Account review |
| Pen Air Federal Credit Union | 0.65% ($500 min) 15-month Add-On CD | Unlimited deposits throughout term Account review |
| Blue Federal Credit Union | 0.60% ($100k), 0.55% ($50k), 0.50% ($2k) 30-month Expandable CD | Unlimited deposits throughout term Account review |
| Bank5 Connect | 0.50% ($500 min) 24-month Investment CD | Unlimited deposits throughout term Account review |
| Navy Federal Credit Union | 0.50% ($100 min) 12-month Easy Start CD | Unlimited 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
| Advancial | 0.92% ($50k) 6-month Jumbo Certificate | Possible easy membership - membership and CD eligibility have been restricted in the past |
| EFCU Financial | 0.85% ($100k) 6-month Jumbo CD | Easy membership See review |
| Hughes Federal Credit Union | 0.85% ($99k) 6-month Jumbo CD | Easy membership See review |
| NexBank | 0.70% ($250k) 6-month Promotional Online Jumbo CD | Account review |
| Luana Savings Bank | 1.51% ($100k), 1.41% ($1k) 12-month CD | Account review |
| M.Y. Safra Bank | 1.46% ($1k) 12 Month MYSB Direct Online CD | See review |
| CFSB | 1.35% ($5k) 12-month CD | Account review |
| Advancial | 1.35% ($50k) 1-year Jumbo Certificate | Possible 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 Union | 1.25% ($1k) 12-month Money Market Certificate | Easy membership See review |
| Connexus Credit Union | 1.25% ($5k) 12-month Certificate | Easy membership See review |
| Lafayette Federal Credit Union | 1.21% ($500) 1-year Fixed CD | Easy membership See review |
| Democracy Federal Credit Union | 1.51% ($500) 12-month IRA Share Certificate | Washington, D.C. metro area See review |
| TEXAR Federal Credit Union | 1.35% ($1k) 12-month Share Certificate | 4 Texas and 2 Arkansas counties See review |
| Keesler Federal Credit Union | 1.05% ($25, unlimited deposits) 1-year FirstStep CD | Easy membership in AL, LA, and MS See review |
| Luana Savings Bank | 1.66% ($100k), 1.56% ($1k) 18-month CD | Account review |
| Advancial | 1.56% ($50k) 18-month Jumbo Certificate | Possible 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 Sachs | 1.50% ($500) 18-month CD | Account review |
| American Heritage Federal Credit Union | 1.45% ($1k) 18-month Share Certificate (Legacy Club) | Easy membership See review |
| American Heritage Federal Credit Union | 1.35% ($1k) 18-month Share Certificate | Easy membership See review |
| Alltrust Credit Union | 1.50% ($2.5k) 16-month Special Certificate | 6 Massachusetts counties and all of Rhode Island See review |
| M.Y. Safra Bank | 2.02% ($1k) 24-month MYSB Direct Online CD | See review |
| Luana Savings Bank | 1.82% ($100k), 1.71% ($1k) 24-month CD | Account review |
| Advancial | 1.77% ($50k) 2-year Jumbo Certificate | Possible easy membership - membership and CD eligibility have been restricted in the past See review |
| PenFed Credit Union | 1.75% ($1k) 2-year Money Market Certificate | Easy membership See review |
| CFSB | 1.70% ($5k) 24-month CD | Account review |
| Genisys Credit Union | 1.60% ($100k) 25-month Share Certificate Special | Easy membership See review |
| Woodlands National Bank | 1.94% ($20k) 2-year CD | Minneapolis metro area See review |
| Inspire Federal Credit Union | 1.81% ($500) 21-month Share Certificate Special | Bucks County, Pennsylvania See review |
| First Financial Credit Union | 1.80% ($100k), 1.70% ($5k), 1.60% ($1k) 24-month Certificate | Chicagoland See review |
| Frost Bank | 1.80% ($100k), 1.52% ($1k) 24-month CD | Major Texas metro areas |
| M.Y. Safra Bank | 2.07% ($1k) 36 Month MYSB Direct Online CD | See review |
| MapleMark Bank | 2.05% ($25k) 36-month CD | Easy membership See review |
| Credit One Bank | 2.00% ($100k) 36-month Jumbo CD | Account review |
| Advancial | 1.99% ($50k) 3-year Jumbo Certificate | Possible easy membership - membership and CD eligibility have been restricted in the past See review |
| CFSB | 1.90% ($5k) 36-month CD | Account review |
| Southwest Heritage Credit Union | 2.07% ($1k) 36-month CD | 6 Texas counties |
| American National Bank & Trust | 2.02% ($1k) 3-year CD | Denton, Fort Worth, and Wichita Falls, Texas |
| Northland Area Federal Credit Union | 2.02% ($500) 30-month Regular CD | 21 Northern Michigan counties |
| Inspire Federal Credit Union | 2.01% ($500) 31-month Share Certificate Special | Bucks County, Pennsylvania See review |
| Bethpage Federal Credit Union | 2.00% ($50) 36-month Certificate | Easy membership in CT, NJ, and NY See review |
| Hudson Valley Credit Union | 1.75% ($500) 24-month CD Special | 12 Hudson Valley (NY) counties See review |
| M.Y. Safra Bank | 2.27% ($1k) 48-month MYSB Direct Online CD | See review |
| Advancial | 2.04% ($50k) 4-year Jumbo Certificate | Possible easy membership - membership and CD eligibility have been restricted in the past See review |
| Luana Savings Bank | 2.02% ($100k), 1.92% ($1k) 48-month CD | Account review |
| Third Federal Savings and Loan | 2.00% ($500) 49-month CD Special | Account review |
| USALLIANCE Financial | 2.00% ($500) 48-month Certificate Special | Easy membership Account review |
| State Bank of India | 1.92% ($25k) 4-year Senior Citizen CD | Account review |
| American National Bank & Trust | 2.12% ($1k) 4-year CD | Denton, Fort Worth, and Witchita Falls, Texas |
| First Financial Credit Union | 2.15% ($100k), 2.10% ($5k), 2.05% ($1k) 48-month Certificate | Chicagoland See review |
| INOVA Federal Credit Union | 2.00% ($200) 4-year CD | Northern Indiana and San Francisco Bay area See review |
| Credit One Bank | 2.30% ($100k) 60-month Jumbo CD | Account review |
| M.Y. Safra Bank | 2.27% ($1k) 60-month MYSB Direct Online CD | See review |
| Synchrony Bank | 2.40% (no min) 60-month CD | Account review |
| Alliant Credit Union | 2.25% ($25k) 60-month Jumbo Share CD | Easy membership See review |
| Marcus by Goldman Sachs | 2.15% ($500) High-Yield 5 Year CD | Account review |
| CFSB | 2.15% ($1k) 60-month CD Special | Account review |
| Advancial | 2.09% ($50k) 5-year Jumbo Certificate | Possible easy membership - membership and CD eligibility have been restricted in the past See review |
| INOVA Federal Credit Union | 2.25% ($200) 5-year CD | Northern Indiana and San Francisco Bay area See review |
| American National Bank & Trust | 2.22% ($1k) 5-year CD | Denton, Fort Worth, and Witchita Falls, Texas |
| Superior Choice Credit Union | 1.50% ($2.5k) 7-year Share Certificate | Easy membership See review |
| State Nebraska Bank & Trust | 1.75% ($25k) 10-year Bank 4Ward CD Special | Eastern Nebraska |
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.
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.
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...;)
But sure, one can always try. Please let us know how it turns out.