Compare today’s best CD rates now! Certificates of deposit are one of the safest ways to save money while earning a higher interest rate. FDIC insured up to $250,000, CDs are a great place to put your money because you never have to worry about losing a penny. We scour the country to list the top CD rates from all the major banks in every geographic region to give you rates that are both accurate and high. Need a 3 month CD? We have the best rates on those. Need a one year? Five year? We have those rates too.
Here are all of our available interest rate tables:
How CDs Work
As a refresher for how CDs work, you open a CD for a specified maturity period and earn interest over that period. If you need access to your funds, you must close the entire CD and will often incur an interest rate penalty. While this rate penalty differs from CD to CD and from bank to bank, a CD with a maturity period of less than twelve months will usually have a three month interest penalty. A CD of twelve months or greater will have a six month interest penalty. As you can see from the rate data, CDs usually have higher yields than savings accounts and money market accounts but lack the same flexibility.
They can play an important role in your financial planning as you won’t find a safer investment with a higher rate of return.