The Highest CD Rates Today: Oct. 17, 2022 | up to 3.95% APY on 1-Year CD
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The highest CD rates today: 1-year CDs paying up to 3.95% APY
Insider's experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.
The average rate for a 3-month CD is 0.19% APY, and 0.83% APY for a 5-year CD, according to the FDIC.
Online banks and credit unions generally offer higher interest rates on CDs than large brick-and-mortar banks. One of the best online institutions for earning a high interest rate on CDs is Bread Savings. Bread Savings pays 3.60% to 4.25% APY on CD terms ranging from one to five years. In comparison, US Bank offers 0.05% to 0.25% APY for CD terms from one month to five years.
We've reviewed over a dozen financial institutions to keep up with the newest rate offerings. Our best CDs guide can be a great resource for learning about CDs and their various features. But if you prioritize finding a competitive CD rate above all else, this list is for you.
Average CD rates vs. highest CD rates
The FDIC keeps tabs on national rates for bank accounts that pay interest, like savings accounts and CDs. For CDs, the average interest rate depends on the term you choose. You can use the table below to see how the most competitive CD rates compare to average CD rates.
| CD Term | Average interest rate | Most competitive interest rates |
| 3 months | 0.19% APY | Up to 1.75% APY |
| 6 months | 0.42% APY | Up to 3.56% APY |
| 1 year | 0.71% APY | Up to 3.95% APY |
| 2 years | 0.77% APY | Up to 3.97% APY |
| 3 years | 0.77% APY | Up to 4.50% APY |
| 4 years | 0.73% APY | Up to 4.15% APY |
| 5 years | 0.83% APY | Up to 4.25% APY |
Best CD interest rates
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Signature Federal Credit Union Certificate
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Bread Savings High-Yield CD
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Crescent Bank CD
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Term Savings
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CFG Bank Certificate of Deposit
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Rising Bank Certificate of Deposit
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Synchrony CD
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Popular Direct Certificate of Deposit
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First National Bank of America Certificate of Deposit
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Connexus Credit Union Share Certificate
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LendingClub Certificate of Deposit
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First Internet Bank of Indiana Certificate of Deposit
Some of the institutions on our list are also top picks in our best CD guides. If you're looking for a specific CD term, consider reviewing these posts, too:
That said, if you're comfortable with a high initial deposit or don't mind limited terms options, the following four CD options also might be suitable contenders — even though they aren't in our best-of guides.
Signature Federal Credit Union Certificate
Deposit Details
Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.Signature Federal Credit Union may be a good option if you're specifically searching for a 3-year CD. The credit union has a limited-time offer where you can earn 4.50% APY on a 3-year term. If you're looking for other CD terms, though, you might consider one of the other institutions on our list.
To open a Signature Federal Credit Union CD, you'll have to become a member of the credit union. The easiest way to become a member is to enroll in the American Consumer Council. Then you'll just need to open a savings account with $5.
Popular Direct Certificate of Deposit
Deposit Details
Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.While the Popular Direct Certificate of Deposit didn't make it into any of our best CD guides, it still could be great if you already intend to open a CD with more than $10,000. You'll want to pay attention to the CD early withdrawal penalties, though, because some terms have high penalties.
Connexus Credit Union Share Certificate
Deposit Details
Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.Additional Reading
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.Connexus offers competitive interest rates on its 1-year, 2-year, and 3-year CDs. It might be a good option if you have at least $5,000 for an initial deposit.
Alliant Credit Union might be worth considering if you're searching for CD terms between one and five years. You'll need a minimum of $1,000 to open a CD.
LendingClub Certificate of Deposit
Deposit Details
Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.LendingClub offers competitive interest rates and could be worthwhile if you have at least $2,500 for a minimum opening deposit. However, if you're worried about the standard-to-high early withdrawal penalties, then you may want to open a CD elsewhere.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
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