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Best CD rate for High yield CD

Published 1/7/09 (Modified 6/9/15)
By MoneyBlueBook

Updated list of certificate of deposit rates

If you're searching for a definitive and regularly updated list of the best CD rates currently available in the market, you've come to the right place. In the CD rate table below, I've compiled a list of the top nationally available certificate of deposit bank offers featuring the highest annual percentage yields (APY). While CD rates and certificate of deposit offers rise and fall with market interest changes, they tend to promote much higher interest rates of return than other forms of bank or credit union deposits, such as high yield savings or money market accounts. The trade off in order to enjoy the higher interest rates that CDs afford, is a certain degree of liquidity and access to your money. When you put your savings in a CD account, the money is momentarily locked up for the duration of an agreed upon fixed CD term period. In exchange, banks are willing to pay you a much higher interest rate for your savings than they'd otherwise compensate you for a regular savings account. Typically for certificate of deposits, the longer the CD term you are willing to lock yourself into, the higher the CD interest rate you will receive in return.

For the sake of brevity, I have chosen to only list the best CD rates for 12 month certificate of deposits. Along with the top CD rates, I have also provided comparative rate offers from popular brick and mortar retail banks as well, since many consumers have a lazy tendency to automatically buy CDs from their local banks or credit unions rather than take the time to conduct a thorough online search for better deals. One thing to note when it comes to CDs is that the best CD rates are rarely offered by large retail banking giants like Citibank, Bank of America, JP Morgan Chase, or even Wells Fargo. Usually it's the small to medium size, or even online banks that market the best CD rate offers.

Comparison Shop For The Best CD Rates and High Yield Savings Accounts

While I believe the updated CD rate chart below reflects the best CD rates available, I also believe in the importance of thorough price comparisons and digestion of all CD rate reviews and bank rate alternatives. Currently there is a rather highly touted online service that's growing in popularity called - Lending Club, where consumers can engage in peer to peer lending and the historical returns for Lending Club notes are between 4.74% and 7.98% for grade A-C notes as verified on Lending Club website on 2/16/2015. While not fully protected by the FDIC the way ordinary bank CD's are, the impressive rates of return of Lending Club are at the very least worth some consideration by CD rate chasers.

List Of The Highest Yield Bank CD Rates For 12 Month Deposits (1 Year) 

Bank Name APY Rates* Minimum Deposit CD Offers and Notes
Lending Club TBD% $25  Rate as of 6/08/2015
Ally Bank 1.05% $1  Rate as of 6/08/2015
Discover Bank 0.95% $2,500  Rate as of 6/08/2015
Pacific Mercantile Bank (365 Day CD) 0.80% $1,000  Rate as of 6/08/2015
E-Loan 0.85% $10,000  Rate as of 6/08/2015
EverBank 0.75%* $1,500  Rate as of 6/08/2015
CIT Bank (Term CD)
1.25% $1,000  Rate as of 6/08/2015
Synchrony Bank 1.25% $2,000  Rate as of 6/08/2015

*Additional Notes:

These rates and terms are subject to change at any time by the respective banks. Check the banks website for current rates, fees, terms and additional information before applying.

*EverBank APY shown for balances up to $1 million


High Yield CDs and Savings Accounts Are Protected By FDIC Insurance

CDs and certificate of deposits are sought out by savvy investors primarily because of the higher interest rate of return that they offer in comparison to other types of bank account deposits. While investments such as stocks and mutual funds usually offer higher rates of return over the long haul during ideal economic times, during periods of major recession or credit-crisis-induced financial turmoil, the benefits of FDIC insured bank deposits really shine. Bank deposits and CD accounts are fully protected from loss in the event of a catastrophic bank failure by the federal government's FDIC insurance up to the current individual maximum FDIC coverage limit of $250,000 per bank. Backed by the full faith and credit of the U.S. government, bank savings and CDs offer the maximum amount of financial protection afforded in the market today.

Keep Your CD Deposits Accessible and Liquid By Setting Up A CD Ladder

As is generally the case, the longer you are willing to have your CD investment locked up, the higher the CD interest rate your bank will offer you. When you buy a certificate of deposit through a bank or credit union, you transfer money into a CD savings account for a fixed amount of time and agree not to pull the amount out until the time period matures or expires. In the event of a premature CD withdraw before the term limit is up, there is a hefty penalty fee you must pay to the bank. So long as there's no early CD pullout though, upon maturation, you are free to withdraw your money out along with the accrued interest and decide whether you want to roll it over into another CD deposit or walk away.

However, the best way to maximize your CD rate of return and ensure a reasonable degree of accessibility to your CD money is to set up a CD ladder. A CD ladder is simply an expense-free investment strategy used to manage CDs that both maximizes liquidity and interest rate (by managing multiple long duration CDs utilizing smaller amounts), and at the same time minimizes risk and the potential drawbacks of freezing up your savings for an extended period of time. The process of laddering CDs requires the bank account holder to initially purchase multiple CD's with different term limits so that they ultimately mature at fixed regular intervals. By staggering multiple CD deposits so that each individual CD account matures at set intervals, this affords the deposit holder additional liquidity, allowing him or her to take advantage of rising interest rates and still be able to continuously seek out the best banks with the highest CD rates possible.

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Reasonable efforts are made to maintain accurate information. See the Discover online credit card application for full terms and conditions on offers and rewards.

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20 Responses to “CD Interest Rates|Certificate of Deposits|Certificate of Deposit rates ” 

  1. Gaby says:

    Everyone who opens a CD with HSBC better make sure they are given the rate online. When I open my 12 and 18 month CD the APY was 3% for both as of 1/7/09. My two CDs showed up online today but the rates were wrong. The 12 month showed 2.99% and the 18 months showed 2.5% APY. I went back to the website and it still has the same information and at the bottom says the APY is accurate as of 1/9/09. I called customer service but they say the rate was changed in 1/7. I kept telling them the information online still said 3% for both CDs so finally one of the customer service rep went online and saw that the CDs had a 3% APY. They say they will change the rate to 3%.

  2. Isaac Yassar says:

    This is very interesting. I'm not familiar in the numbers of CoD so I find this article like a first vacation to a new land. Exciting. I love to read things I'm not yet familiar with.

  3. Daniel M says:

    The best CD rates these days are not all the great anymore it seems. I think there are better alternatives for those looking to generate some extra cash flow, such as using peer to peer lending services like Lending Club or even Prosper. Of course there is a bit of more risk taking with P2P services and they are not fully ensured by FDIC insurance the way CD's and bank savings accounts are - but they do offer much better interest rates of return.

    But with the way interest rates are getting cut, the best CD rates and the top high yield savings account rates are definitely not as attractive as they once were. Thoughts?

  4. Raymond says:


    I agree....P2P lending services like Lending Club and Prosper may be better investments in terms of getting a high interest rate of return at the moment, but then they are not fully protected from loss in the event of a business failure or bankruptcy. With Lending Club type loans, you always have to contend with the possibility of debt defaults on the part of the borrower. I think P2P lending is a good way to diversify one's investment portfolio, but peer loan investments shouldn't wind up being the bread and butter of one's investment approach. U.S. Treasuries and Notes, along with FDIC insured high yield savings accounts and bank certificate of deposits should make up the crux of one's "safe and secure" money.

  5. Steve Brown says:


    Found a 7.5% APY rate on a one-year CD. One week only! Check it out: (view link)


  6. Raymond says:

    Steve Brown,

    I took a look at the 7.5% APY CD rate offer and the terms are rather ridiculous. At first blush the high CD rate is admittedly quite amazing, however the terms and conditions are extremely restrictive. For one thing, the maximum deposit limit is only a mere $1,000 and only the first 350 people can qualify. One would have to be a hardcore, obsessive rate chaser to find this offer even remotely attractive.

    The offer also caps the CD limit at $250 for those between the ages of 13 and 25...what a terrible sucker deal for younger folks.

    I'm sure the credit union bank got what they wanted out of this particular promotion however - lots of hype and publicity. But once customers examine the detailed conditions of this particular CD rate offer, they'll realize that it's all talk and no substance..... Guess we'll have to keep searching for the best CD rates.

  7. Henry says:

    Is it just me or are CD rates constantly changing? They seem to be falling like a brick due to the economy? When will the FED boost rates again? I know they have to keep rates low to fix this economic recession but when will it be our turn again to reap FDIC insured profits! The best CD rates simply aren't all that great anymore. Some very good offers are still out there, but you really need to search and search for the top CD rates.....thanks for the list btw!

  8. Raymond says:


    Yes CD deposit rates have continuously ebbed and flowed with the economy and with FED interest rates rather stagnant these days, even the top national CD rates are not as high as they once were. They still offer the best in terms of interest rate of returns for FDIC minded investors however.

  9. Jim says:

    Ah great...you finally updated the new CD rates. Wow, a big drop in certificate of deposit interest rates across the board. Such a stunning turn of events for us FDIC insured account folks. Please update the CD deposit rates more frequently please. Us bank interest rate seekers need continuous feedback!

  10. Raymond says:


    I'll try to update the CD deposit rates as often as possible, particularly after major moves by the Federal Reserve. If they are out of date, please let me know. And yes, even the highest CD rates are not as lucrative as they once were. Bank rates have been dropping rather dramatically lately.

  11. LV-Joanne says:

    Are GMAC CD or savings accounts safe? What's the fate of GMAC Bank? GMAC has great CD rates and look quite impressive as noted above, but I'm very concerned that the online bank isn't safe and might fold sometime in the near future.? Is GMAC's CDs safe to invest in for the long haul? I don't want to sleep uneasy at night

    What's the current situation and future condition of GMAC Bank? My understanding is that the bank is the financial arm of GM and that it's been experiencing major problems lately due to the mortgage crisis. Even with possible FDIC insurance, I am still wary of GMAC deposits...what do you guys think?

    Cerberus, one of GMAC's biggest investors had noted earlier in 2009 that "GMAC could run into substantial difficulty" if credit markets continue to decline. I know things have gotten better but are we out of the woods yet? I have major doubts!

  12. JohnsW says:

    Relax, why so serious? GMAC online bank CD's are FDIC insured. The recent approval of federal bailout loans to GM and GMAC parent bank have helped to secure the future of GMAC for now. Obviously, many of the banks that have hiked their best CD rates in the past few months and weeks have done so out of a desperate clamor for deposits in order to secure funding. GMAC Bank is no different. But I wouldn't worry so much because mainly.....of FDIC insurance.

    With FDIC limit backing, you can be sure that any CD investment within the current insured limits of ($250,000) will be safe. Your CD deposit, savings, or checking account investment is "safe" if you remain under the total FDIC limit for that bank. Trying to determine which banks or credit unions will fold and which ones won't is not a useful exercise IMO. They are not the biggest bank out there but I would think they get enough public and media coverage to fall under the category of "too big to fail"....not absolutely certain, but I would think so.

  13. Pete says:

    Well I like the idea of staying with CD accounts. I know some say it's stupid because of dropping rates, but I prefer the federal deposit insurance coverage that I get with good old fashioned bank accounts....CDs included. When do you think the CD rates will rise again? Do you think it makes sense to lock in a long term rate in the idea that rates may drop even further, or do you think this is it...that this is the lowest it will go for a long time.....

  14. Super CD Account says:

    I wish I had locked in higher CD rates earlier in the year and even from last year. My father locked in amazing CD deposit interest from 2 years ago..... I forgot what was the exact APY rate at which his CD account was at...but it was somewhere like 5 or 6% APY...insane rates of return. For those looking to buy into a CD, watch out for federal reserve interest rate changes - they fluctuate a lot. Locking yourself into a long term CD is a way to get around this. But the downside is that you end up on the outside looking in as a CD holder when Fed rates go up. High yield savings accounts may be better options during periods of high interest rate volatility!

  15. Travis says:

    As a long time CD account user, I think they are a great way to maximize rate of return while ensuring full FDIC insurance protection within its limits (thankfully they've been increased from $100,000 to $250,000).

    But one of the knocks on certificate of deposit rates have always been the restrictive terms and penalties for premature withdrawal.

    But have you guys checked out Ally Bank lately? Ally Bank's the new online name of GMAC Bank. For whatever reason, GMAC decided to switch its name to pursue a different marketing approach. But my point is - Ally Bank is currently offering No Penalty CD rates. Basically you can withdraw your money and put it anywhere WITHOUT A FEE. Currently the CD rate offered is 2.50% APY for a 9 month no penalty CD.

    Here's a snapshot from the no penalty fee CD account portion of the Ally Bank website:

    Get a fixed CD rate with the freedom of a no fee early withdrawal.

    - Open with $0
    - No fees whatsoever
    - Daily compounded interest for maximum earnings
    - FDIC insured Maximize your coverage
    - Automatic renewal at maturity
    - Ability to withdraw and receive earned interest as income – just let us know before the CD maturity date or by ten days after
    - Want a no fee early withdrawal? We'll hand over your full balance and interest any time after the first 6 days of funding your CD
    - Your term and rate will go into effect when you make your opening deposit

  16. Marly says:

    Ally CD rates look good....at least they are near the tops in the CD banking industry. No Penalty CD's are great for those who don't like committing for long term deposit deals. I haven't take a look at the disclaimers or terms...so still need to properly vet the offer before committing.

    I already have a new savings account with them and so far so good. Good interest deal..I hope it lasts and doesn't ultimately tank once Ally Bank is done trying to acquire new customers

  17. Kirkland says:

    Don't bother with CDs - the Fed and the economy have killed what use was left of certs of deposits. The interest rates aren't all that great anymore and why bother getting locked up into low fixed rates when rates may rebound anytime? Cd laddering probably could work but it requires too much micro managing. There ought to be an online site that automatically manages CD ladders for you....like they pre-package the several long term CD rates into a single savings account type fund. Somebody go out and build it please

  18. Johnathan says:

    I have a friend who just liquidated one of her CDs. She found a local real estate rehab/repair company who pays 11-15% on funds up to 1 year.

    They find cheap foreclosures in good neighborhoods and update and modernize them. What she liked the best is her money is secured with a house that is worth 2x what she lent and the cashflow and growth from the money seems a no brainer.

    We were a little on the fence too until we started seeing the properties they fixed up and turned out to be a group of hard working guys who liked what they did and gave families a place to call home when the bank wouldn't loan. A real win win for the community.

    I think they have a website...I'll look it up if any of you are interested.

    Merry Christmas!

  19. Beth says:

    I would like information regarding how to list our CD Rates on your site.

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