Whether you’re saving up for a business project or gender affirming care, a CD is a great option to accelerate your savings goals and make your money work for you.
A Certificate of Deposit (CD) is a type of high yield savings account that requires a specific amount of holding time with a promised percentage of interest to grow your money. To encourage you to commit to saving, CD’s may come with penalties if you withdraw your money before the agreed upon date.
Note: APY rates may vary from month to month. APY percentages listed are as of September 3, 2024.
All options listed are from FDIC insured banks and credit unions.
Bank Name: Alliant
Check it out: Alliant is one of the largest not-for-profit credit unions in the US. Customers can automatically become a member by opening a certificate and unlocking a high rate savings account. 12 month certificates yield a 4.75% APY with a 1000$ deposit.
Bank Name: Bread Savings
Check it out: Bread Savings offers a 5.% 1 year APY with a $1500 deposit minimum, and offers even higher renewal rate of 5.05% so you can continue to grow your savings.
Bank Name: Quontic
Check it out: For those wanting a shorter contract, Quontic bank offers a 6 month CD with a 5.10% APY while only requiring a $500 minimum deposit.
Bank Name: Lending Club
Check it out: Lending Club offers a 5.10% APY for a 10 month CD with a minimum balance of $2,500
Bank Name: Tab Bank
Check it out: Tab Bank offers a 5.02% APY for a 12 month CD with a minimum balance of $1000.
Bank Name: Sallie Mae
Check it out: Sallie Mae offers a 4.90% APY for a 13 month CD with a minimum $2,500 deposit.
Bank Name: Andrews Federal Credit Union
Check it out: Andrews Federal Credit Union offers a 4.89% APY for a one year CD with a minimum $1000 deposit
Still looking? Here are more CDs for you to check out:
Bank Name: Synchrony
APY: 4.85%
Minimum Balance: 0
Withdraw Penalty:90 days interest for deposits under 12 months.
Transfer Time: 3 business days
Bank Name: Patelco (Credit Union)
APY: 4.41% for their 14 month promo
Minimum Balance: $250
Transfer Time: 1-3 business days
Bank Name: Customer’s Bank
APY: 4.35%
Minimum Balance: $500
Bank Name: Bask Bank
APY: 5.1%
Minimum Balance: $1,000
Withdraw Penalty: CDs with terms of 6 months up to and including 1 year are subject to a fee of 90 days of simple interest based on the principal amount withdrawn.
*CDs with terms greater than 12 months are subject to a fee of 180 days of interest based on the principal amount withdrawn.
Transfer Time: 3-5 Days
Extra Perks: 25k miles for referral
Bank Name: Ally Bank
APY: 4.9%
Minimum Balance: N/A
Withdraw Penalty: 24 months or less, 60 days of interest
25 months – 36 months-90 days of interest
37 months – 48 months-120 days of interest
48 months or longer-150 days of interest
Transfer Time: 3 Days
