Best 5-Year CD Rates of July 2025

When you open a 5-year CD, you’re guaranteed to receive a fixed interest rate for five years. It’s a long commitment, but the stable interest payments can be appealing, especially if interest rates fall.

The rate table below ranks CDs by the highest 5-year CD rates. Most of the CDs have terms of 60 months (five years), but the table also includes CDs with slightly longer and shorter terms. The filter box above the table can help you customize your results.

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ONLINE BANKING
Gainbridge
3 or 4 Years FastBreak™ Annuity
APY
5.45%
Service Charge
Svc Charge
$0
Minimum to Earn
Min to Earn
$1k
Min to Open
Min to Open
$1k
Sponsored Note: Earn 5.45% APY on balances under $100,000. Earn 5.75% APY on balances $100,000 and greater.
APY
5.45%
Service Charge
$0
Min. to Earn
$1k
Min to Open
$1k
Gainbridge
3 or 4 Years FastBreak™ Annuity
ONLINE BANKING
View Details
Sponsored Note: Earn 5.45% APY on balances under $100,000. Earn 5.75% APY on balances $100,000 and greater.

Compare top 5-year CD rates nationwide

Search our robust database of banks and credit unions to find your perfect account.

Location
Deposit Amount
Filters
Institution
APY
Early Withdrawal Penalty (Days)
Min. to Earn
Min. Deposit
Keys Federal Credit Union
NCUA Insured
60 Month Share Certificate
4.0 Our Rating
4.50%
182 Days
$500
$500
View
60 Month Share Certificate
View
4.0 Our Rating NCUA Insured
APY
4.50%
Early Withdrawal Penalty (Days) 182 Days
Minimum to Earn $500
Minimum Deposit $500
Metro Credit Union
NCUA Insured
60 Month CD
4.9 Our Rating
4.35%
90 Days
$0
$500
View
60 Month CD
View
4.9 Our Rating NCUA Insured
APY
4.35%
Early Withdrawal Penalty (Days) 90 Days
Minimum to Earn $0
Minimum Deposit $500
Copper Basin Federal Credit Union
NCUA Insured
60 Month CD
4.1 Our Rating
4.34%
$1k
View
4.1 Our Rating NCUA Insured
APY
4.34%
Early Withdrawal Penalty (Days)
Minimum to Earn $1k
Minimum Deposit
Tulare County Federal Credit Union
NCUA Insured
60 Month CD
3.8 Our Rating
4.34%
180 Days
$1k
$1k
View
3.8 Our Rating NCUA Insured
APY
4.34%
Early Withdrawal Penalty (Days) 180 Days
Minimum to Earn $1k
Minimum Deposit $1k
Grant County State Bank (IN)
Member FDIC
60 Month CD
4.1 Our Rating
4.32%
$1k
View
View
4.1 Our Rating Member FDIC
APY
4.32%
Early Withdrawal Penalty (Days)
Minimum to Earn $1k
Minimum Deposit
Lafayette Federal Credit Union
NCUA Insured
5 Year Fixed CD
3.7 Our Rating
4.28%
600 Days
$500
$500
View
View
3.7 Our Rating NCUA Insured
APY
4.28%
Early Withdrawal Penalty (Days) 600 Days
Minimum to Earn $500
Minimum Deposit $500
Citizens Bank & Trust Company (KY)
Member FDIC
5 Year CD
5.0 Our Rating
4.25%
$500
View
5.0 Our Rating Member FDIC
APY
4.25%
Early Withdrawal Penalty (Days)
Minimum to Earn $500
Minimum Deposit
Credit Union of Atlanta
NCUA Insured
60 Months Share Certificate
5.0 Our Rating
4.25%
$500
View
60 Months Share Certificate
View
5.0 Our Rating NCUA Insured
APY
4.25%
Early Withdrawal Penalty (Days)
Minimum to Earn $500
Minimum Deposit
Heartland Credit Union (KS)
NCUA Insured
60 Month Certificate
4.0 Our Rating
4.25%
$500
$500
View
60 Month Certificate
View
4.0 Our Rating NCUA Insured
APY
4.25%
Early Withdrawal Penalty (Days)
Minimum to Earn $500
Minimum Deposit $500
Knoxville TVA Employees Credit Union
NCUA Insured
60 Month CD
5.0 Our Rating
4.25%
$500
View
5.0 Our Rating NCUA Insured
APY
4.25%
Early Withdrawal Penalty (Days)
Minimum to Earn $500
Minimum Deposit
MIDFLORIDA Credit Union
NCUA Insured
60 Month Certificate Special
4.1 Our Rating
4.25%
$1k
View
60 Month Certificate Special
View
4.1 Our Rating NCUA Insured
APY
4.25%
Early Withdrawal Penalty (Days)
Minimum to Earn $1k
Minimum Deposit
Utah Community Credit Union
NCUA Insured
60 Month CD
4.0 Our Rating
4.25%
$500
$500
View
View
4.0 Our Rating NCUA Insured
APY
4.25%
Early Withdrawal Penalty (Days)
Minimum to Earn $500
Minimum Deposit $500
Community Bank & Trust (GA)
Member FDIC
60 Month CD
5.0 Our Rating
4.24%
$500
View
View
5.0 Our Rating Member FDIC
APY
4.24%
Early Withdrawal Penalty (Days)
Minimum to Earn $500
Minimum Deposit
Impact Credit Union
NCUA Insured
60 Month CD
5.0 Our Rating
4.24%
$500
View
60 Month CD
View
5.0 Our Rating NCUA Insured
APY
4.24%
Early Withdrawal Penalty (Days)
Minimum to Earn $500
Minimum Deposit
Kings Peak Credit Union
NCUA Insured
60 Month Share Certificate
4.1 Our Rating
4.23%
$1k
View
60 Month Share Certificate
View
4.1 Our Rating NCUA Insured
APY
4.23%
Early Withdrawal Penalty (Days)
Minimum to Earn $1k
Minimum Deposit
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On this page

What are the highest 5-year CD rates right now?

A high 5-year CD rate is one that’s well above the average CD rate, which was 1.33% annual percentage yield (APY) as of June 2025. At the time of writing, some of the highest 5-year CD rates are available from the following banks and credit unions:

How to find the best 5-year CD rates

Start your search for a great 5-year CD with online banks because they tend to offer some of the highest rates. They operate without the costs of brick-and-mortar locations, which often allows them to pay more. However, traditional banks sometimes feature CD specials with rates comparable to online bank CD rates.

Credit unions also tend to have higher rates than traditional banks. As not-for-profit institutions that are taxed less than banks, credit unions typically can afford to pay higher CD rates.

Regardless of the type of financial institution you go with, make sure your money is backed by the Federal Deposit Insurance Corp. (FDIC) or the National Credit Union Administration (NCUA).

Are 5-year CD rates going up?

CD rates have generally been falling or remaining stable, not rising. The Federal Reserve lowered rates three times in 2024, and expectations for further rate changes remain uncertain because of a cloudy economic outlook in 2025. At least for now, CD rates are still relatively high, but this can change if the Fed decides to cut rates this year.

How to choose a 5-year CD

The CD with the highest rate may not always be the best option for you. You might want to consider other factors, such as:

Tips on opening and managing a 5-year CD

Once you decide on a CD, be careful when opening and managing the CD to avoid any unpleasant — and potentially costly — surprises. Check out the tips below to ensure that your CD experience runs smoothly:

Pros and cons of a 5-year CD

A 5-year CD can help you save for medium-term goals. It can also be used as a part of your investment savings to provide stability and safety. Here are the pros and cons of a 5-year CD:

PROS

  • Safe: When the CD is directly held at FDIC-insured banks or NCUA-insured credit unions, the principal and all accrued interest are protected up to the insurance limits.
  • Relatively high interest rate: 5-year CDs generally have higher interest rates than checking or savings accounts.
  • Rate typically fixed: The interest rate for 5-year CDs is generally fixed for the entire term, which is beneficial if interest rates fall.
  • Predictable return: Banks often allow CD interest to be paid out regularly, providing a predictable source of income for the entire term length.
  • Good for spending discipline: Locking up your funds in a CD forces you to save, which can be helpful if impulse spending is a problem. The early withdrawal penalty discourages tapping into your savings for spending, which helps you grow your money faster.

CONS

  • Early withdrawal penalty: Accessing the principal before the CD matures can result in losing part or all of the accrued interest. It can even reduce the principal.
  • Earned interest is taxed as ordinary income: If the CD is held in a taxable account, interest earnings are taxed as ordinary income. This is a disadvantage compared with stocks and other investments. Stock returns come from capital gains and dividends, which are typically taxed at lower rates than ordinary income.
  • Opportunity cost if interest rates rise: If interest rates rise after you open a CD, your money is locked in, and you may miss out on earning higher rates.
  • May not keep up with inflation: CD rates may not always keep pace with inflation, which can reduce the purchasing power of your savings over time.
  • Less flexibility than savings accounts: Unlike savings accounts, CDs only allow an initial deposit. Additional deposits are not allowed during the CD’s term. Instead, you'll need to open a new CD.
  • Risk of forgetting CD maturity date: CDs are often set to automatically renew at maturity. If you forget the maturity date and the CD grace period expires, you may become locked into a lower-rate CD.

Is a 5-year CD right for you?

Ultimately, whether a 5-year CD is the right next step for you depends on your needs and wants.

If you’re looking for a safe place to earn predictable returns over a longer period of time, a 5-year CD is worth considering. It is a big commitment, though, and if you may need the money before the CD matures, you might be better off with a shorter-term CD or a high-yield savings account.

If you do get a 5-year CD, avoid putting all of your savings into it — keep a portion in a more liquid account, such as a savings account, for easy access in an emergency.

Alternatives to a 5-year CD

Frequently asked questions (FAQs)

Do you pay taxes on CD interest?

Yes, you will owe taxes each year on the interest earned from a 5-year CD. This is even the case if interest is added back to the CD and not paid out. Interest earned on a CD held in a taxable account is subject to federal income tax, and it may be subject to state and local income taxes. Interest is considered earned when it’s credited to your account. Most banks credit CD interest monthly, quarterly or annually, which results in annual tax liability.

What if I need to access my CD money early?

If you need access to any part of a traditional CD's initial deposit, or principal, before maturity, the bank typically allows the withdrawal but charges an early withdrawal penalty. The penalty is usually based on a certain number of months of interest. Most banks only allow a full early withdrawal, meaning you must remove the entire balance and the account will be closed.

How do I use 5-year CDs to build a CD ladder?

The basic method for building a CD ladder with 5-year CDs involves dividing a deposit into five equal parts. Each part is used to open a CD with a different term: 1 year, 2 years, 3 years, 4 years and 5 years. When each CD matures, the money is reinvested into a new 5-year CD. After the 4-year CD matures, all five CDs will have 5-year terms. From then on, one of the five 5-year CDs will mature each year, providing regular access to funds without penalty.

Will a jumbo 5-year CD have a higher rate?

Jumbo CDs have large minimum deposit requirements, typically ranging from $10,000 to $250,000. Banks and credit unions may offer higher interest rates on their jumbo CDs. However, many banks don’t, and sometimes, the highest CD rate is from a bank that offers CDs only with small minimum deposit requirements.

How will I receive interest payments for a 5-year CD?

Most banks provide multiple options for receiving CD interest. The basic option is to have the interest added back to the CD. Another common option is to have the interest paid out to you via check, ACH transfer or internal transfer. The regular interest payouts can be monthly, quarterly or yearly.

How much interest does a 5-year CD earn?

For a traditional CD with a fixed interest rate, it’s easy to calculate the total interest you’ll earn over a five-year period. You’ll need to know the initial deposit and the CD's APY. Use this compound interest calculator to calculate the total amount of CD interest you could earn.

What are the risks of a 5-year CD?

If you need to withdraw your initial deposit before the CD matures, your financial institution will likely charge an early withdrawal penalty, which can eat into your earnings. There’s also a risk of missing out on higher rates if interest rates rise during the five-year term.