Best CD Rates of September 2024

With peace of mind that allows you to set it and forget it, a certificate of deposit (CD) is a solid place to invest your short-term savings. And while capital market participants have to endure volatility to earn a higher return, CDs can help grow your money without taking any risk.

Why Should You Trust ElitePersonalFinance?

With accuracy and accountability in mind, we pride ourselves on presenting the latest information from the most trusted sources. And our goal is to help you find the best products available in the marketplace. Moreover, we hope that our study will make it easier to determine where you should invest your hard-earned savings.

To do so, we analyzed hundreds of CD accounts and organized our findings by those that offer the highest annual percentage yields (APYs). However, what’s the point of a high-interest rate if you can’t depend on your institution? That’s why we ensured that all of the institutions on our list reported being insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA).

As a result, the U.S. federal government guarantees all of our recommended CDs up to $250,000 per person, per account.

Best CD Rates of September 2024

We felt it was best to present the institutions that offer the highest APYs for long-term CDs to begin our study. However, if you’re looking for the best options over a shorter time horizon, we’ll cover those details soon. Also, please note that some of the institutions on our list don’t offer CDs across all maturities. As a result, some tables have more or less data, depending on how many institutions offer the selected terms.

In addition, please consider that some of the options on our list are only available in select states. And if you’re curious about whether your region qualifies, please read our full reviews for all of the essential details.

Up first, Edward Jones (1.75%), Ardent Credit Union (1.50%), and Ashland Credit Union/Credit Human (1.40%) have the highest 5-year APYs in the marketplace. And with minimum deposit requirements of $500 or less, they’re solid options if you’re in the market for a long-term CD.

Best 3-Month CD Rates

Some banks and credit unions have higher CD APYs depending on their maturities. For example, you might assume that if an institution offers the highest 5-year CD APY, it would also provide the highest 3-month and 3-year CD APYs. However, we found that it doesn’t always work that way. As a result, we organized the data by maturity to help you make the most informed decision.

To that point, we found that Bethpage Federal Credit Union (0.40%), TIAA Bank (0.35%), and Ardent Credit Union (0.25%) have the highest 3-month APYs in the marketplace. Moreover, if you need help determining which product is right for you, we cover the pros and cons in our reviews.

Best 6-Month CD Rates

Quontic Bank (0.55%), Credit Human (0.50%), and Live Oak Bank (0.50%) have the highest 6-month APYs in the marketplace. Moreover, with many of the best high-yield savings accounts offering APYs in the 0.50% range, purchasing a 6-month CD from Quontic Bank results in a solid interest rate and the ability to avoid locking up your funds for too long.

Best 1-Year CD Rates

For CDs that reach the annual milestone, Pentagon Federal Credit Union (0.85%), Live Oak Bank (0.75%), and First National Bank of America (0.65%) have the highest 1-year APYs in the marketplace. As a result, if you don’t need to access your funds and can tolerate the 12-month duration, the options below may be suitable for you.

Best 2-Year CD Rates

If we extend the investment time horizon, Quontic Bank (0.95%), Edward Jones (0.90%), and Pentagon Federal Credit Union (0.85%) have the highest 2-year APYs in the marketplace. However, please note that fixed-rate CDs often have early withdrawal penalties. As a result, it’s essential to determine whether or not you’ll need to access your funds during the term. If not, one of the options below can fulfill your needs. If so, a high-yield savings account or a CD with a shorter maturity is likely more appropriate.

Best 3-Year CD Rates

Moving further out along the CD curve, Edward Jones (1.25%), Quontic Bank (1.10%), and Ashland Credit Union (1.05%) have the highest 3-year APYs in the marketplace. But as mentioned, some of the options below are not available in all regions. However, we will cover all of the details in our reviews.

Best 4-Year CD Rates

Finally, Edward Jones (1.45%), Ardent Credit Union (1.25%), and Ashland Credit Union (1.20%) have the highest 4-year APYs in the marketplace. However, with their 5-year APYs 0.20% to 0.30% higher than their 4-year APYs, it’s probably wise to opt for a 5-year CD if your investment time horizon stretches this far.

Edward Jones

5-Year CD APY:	1.75%
Min. Deposit:	$100
Monthly Service Fee:	$0
FDIC/NCUA Insured:	Yes
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Edward Jones has CDs with terms that range from three months to 10 years and listed APYs that range from 0.15% to 1.75%. Moreover, there are no monthly account fees, and your deposits are FDIC-insured up to $250,000 per person, per account. However, Edward Jones’ disclosures state that certain APYs and maturities “may not be available in all states.” Thus, while the firm doesn’t specifically list any exempt states, certain areas may have restrictions.

In addition, purchasing a CD must be done through an Edward Jones financial advisor. As a result, while some firms allow you to buy online, the option isn’t available at Edward Jones. However, the firm has nearly 19,000 financial advisors across the United States, and its search directory is easy to navigate. Moreover, with more than 15,000 branches in North America, you shouldn’t have any trouble reaching a representative.

However, please note that Edward Jones’ CDs are subject to interest rate risk. For example, if the Fed raises interest rates, the value of your CD will decline. However, this is only a concern if you withdraw your funds before maturity. Conversely, you can’t lose any principal or interest if you hold the CD until the term is up. In addition, Edward Jones may restrict early withdrawals for certain CDs. And when early withdrawals are permitted, you will likely incur a fee to end the agreement early.

Pros:

• For maturities of three years to five years, Edward Jones has the highest APYs in the marketplace.

Cons:

• Some of Edward Jones’ CDs may not be available in all states.

Who is the account best suited for?

• If you want to earn the highest APY, a long-term Edward Jones CD may be right for you.
• An Edward Jones advisor can help you manage your money more efficiently.

The impact of COVID-19:

With stock markets hitting all-time highs during the pandemic, Edward Jones’ financial advisory service should have prospered. For example, financial advisors charge commissions or earn fees on a percentage of clients’ assets. As a result, Edward Jones’ team should have benefited from record stock market inflows.

Ardent Credit Union

5-Year CD APY:	1.50%
Min. Deposit:	$100
Monthly Service Fee:	$0
FDIC/NCUA Insured:	Yes
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Ardent Credit Union has CDs with terms ranging from three months to five years and APYs ranging from 0.25% to 1.50%. Moreover, there are no monthly account fees, and your deposits are NCUA-insured up to $250,000 per person, per account. However, please consider that the offer is only available to residents of Pennsylvania. For context, Ardent Credit Union has branches in the Philadelphia area and has more than 85,000 fee-free ATMs in the region.

Moreover, the firm’s disclosures state that early withdrawal penalties can have a substantial impact on your return. For example, if you withdraw a portion of your funds before maturity, you forfeit the interest received up until that date, or 180 days’ worth of interest on the withdrawn amount, whichever is less. Moreover, Ardent Credit Union may require you to provide, in writing, 60 days’ notice of your intention to withdraw the funds. As a result, it’s prudent to choose your maturity wisely to avoid the potential headache.

Also, please note that you have to become a member of Ardent Credit Union to purchase any of its products. For example, you must be a community member in the Philadelphia, Bucks, Chester, Delaware, or Montgomery counties to be eligible. You can also be a relative of a member or a qualified business owner.

Pros:

• Ardent Credit Union’s 5-year CD has one of the highest APYs in the marketplace.

Cons:

• The offer is only available in Pennsylvania.

Who is the account best suited for?

• If you live in Pennsylvania and want to purchase a long-term CD, Ardent Credit Union is a solid choice.

The impact of COVID-19:

Ardent Credit Union has less exposure to capital market activity as a regional institution. As a result, the firm likely focused on providing support and forbearance options during the pandemic.

Ashland Credit Union

5-Year CD APY:	1.40%
Min. Deposit:	$500
Monthly Service Fee:	$0
FDIC/NCUA Insured:	Yes
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At Ashland Credit Union, you can invest in CDs with terms that range from six months to five years, with APYs that range from 0.35% to 1.40%. Moreover, there are no monthly account fees, and your deposits are NCUA-insured up to $250,000 per person, per account. However, unlike the options above, you need at least $500 to invest. Also, Ashland Credit Union has branches in three states — Kentucky, Minnesota, and Ohio. And you have to live, work, worship, or attend school in one of these areas to be eligible for membership. As a result, the offer isn’t available nationwide.

However, if you meet the eligibility requirements, you can increase your APY. For example, $35,000 or more investments qualify for jumbo dividend rates. And here, APYs range from 0.45% (three months) to 1.50% (five years). As a result, if you have a large amount to invest, there is a 0.10% increase in APYs across all maturities. Again though, Ashland Credit Union charges a penalty fee if you withdraw your funds before the CD matures. As a result, please consider your time horizon before taking the plunge.

Pros:

• Ashland Credit Union’s 5-year CD has the third-highest APY on our list.

Cons:

• The offer is only available in three states.

Who is the account best suited for?

• If you live in Kentucky, Minnesota, or Ohio, Ashland Credit Union’s 5-year CD offers plenty of value.

The impact of COVID-19:

With its business focused on deposit accounts and loans, the pandemic may have been immaterial to Ashland Credit Union. However, given the material increase in the money supply, the firm should have increased its asset base.

Credit Human

5-Year CD APY:	1.40%
Min. Deposit:	$500
Monthly Service Fee:	$0
FDIC/NCUA Insured:	Yes
Learn More

At Credit Human, you can choose from CDs with terms ranging from six months to 10 years and APYs ranging from 0.50% to 1.40%. Moreover, there are no monthly account fees, and your deposits are NCUA-insured up to $250,000 per person, per account. Also, at 0.50%, Credit Human has the second-highest 6-month APY on our list. As a result, investing your money in a Share Certificate is a wise short-term decision until you figure out your long-term goals.

However, please note that Credit Human’s services are only available in Texas. As a result, you need to be active in local communities to qualify for membership. For context, roughly 33% of Credit Human’s members reside outside Texas. However, they’re housed under brands like CU Factory Built Lending, Mountainside Financial, and Credit Acquisition Resources Systems (or CARS). As a result, the CDs above are best for individuals in The Lone Star State.

Moreover, with a relatively low minimum deposit requirement of $500, you don’t need a large sum to purchase a CD. However, like the other options on our list, Credit Human imposes penalties if you withdraw your funds before maturity, and these charges can be “substantial” for tax-deferred alternatives. As a result, please consider the pros and cons before investing.

Pros:

• Credit Human’s 6-month CD has the second-highest APY in the marketplace.

Cons:

• The offer is only available in Texas.

Who is the account best suited for?

• If you live in Texas and have short-term savings to invest, Credit Human checks off all the boxes.

The impact of COVID-19:

With its business structured around deposits and loans, Credit Human is less active in the capital markets. However, the firm helped ease Americans’ burden during the pandemic by offering loan extensions and processing deferment requests.

Keesler Federal Credit Union

5-Year CD APY:	1.35%
Min. Deposit:	$1,000
Monthly Service Fee:	$0
FDIC/NCUA Insured:	Yes
Learn More

Keesler Federal Credit Union offers CDs with terms that range from three months to five years, with APYs that range from 0.25% to 1.35%. Moreover, there are no monthly account fees, and your deposits are NCUA-insured up to $250,000 per person, per account. However, the group requires a minimum of $1,000 to purchase a CD. Conversely, CDs held within IRA accounts have no minimum deposit requirements. As a result, if you open a retirement account at Keesler Federal Credit Union, you should be able to avoid the $1,000 condition. Also noteworthy, individuals who invest $100,000 or more receive a 0.10% APY increase across all maturities. However, early withdrawal penalties apply if you have a change of heart, so please consider this before investing.

Also, Keesler Federal Credit Union has 39 branches across Mississippi, Louisiana, Alabama, and the United Kingdom. And to obtain membership, you need to be an active community member in one of these regions. As a result, the group’s products are not available nationwide.

Pros:

• Keesler Federal Credit Union’s 5-year CD has one of the highest APYs on our list.

Cons:

• The offer is only available in three states.

Who is the account best suited for?

• If you live in Mississippi, Louisiana, or Alabama, Keesler Federal Credit Union can help you earn a high CD return.

The impact of COVID-19:

Keesler Federal Credit Union has a wide range of financial products and provided clients with loan assistance during the pandemic. In addition, with financial markets buoyed by unprecedented stimulus measures, the firm’s wealth management division likely benefited from the increased activity.

Teachers Federal Credit Union

5-Year CD APY:	1.35%
Min. Deposit:	$1,000
Monthly Service Fee:	$0
FDIC/NCUA Insured:	Yes
Learn More

With a solid slate of long-term CDs, Teachers Federal Credit Union offers terms that range from three months to five years, with APYs that range from 0.25% to 1.35%. Moreover, there are no monthly account fees, and your deposits are NCUA-insured up to $250,000 per person, per account. However, like Keesler Federal Credit Union, you need a minimum of $1,000 to start investing. Also, the firm has 32 branches across Long Island, Queens, and Manhattan, New York. However, Teachers Federal Credit Union’s website does not state that you have to live in these regions to become a member. Moreover, you can open other accounts online, and the firm has a mobile app. As a result, its CDs may be available nationwide. However, it’s prudent to double-check and see if your region qualifies.

Also, please note that Teachers Federal Credit Union’s CDs incur early withdrawal penalties depending on the maturity:

• For CDs with terms of one year or less, you forfeit all of your dividends or 180 days’ worth of interest, whichever is less.
• For CDs with terms of more than one year, you forfeit all of your dividends or 270 days’ worth of interest, whichever is less.

As a result, if you invest in a 1-year CD, six months’ worth of interest is gone if you withdraw your money three months before it matures. As a result, it’s crucial to determine how soon you will need your funds before you decide to invest.

Pros:

• Teachers Federal Credit Union’s 5-year CD has a solid APY, and may be available nationwide.

Cons:

• None.

Who is the account best suited for?

• If you live in New York State, Teachers Federal Credit Union offers several financial products with competitive rates.

The impact of COVID-19:

With a specialization in consumer and business banking, Teachers Federal Credit Union helped more than 375,000 members navigate the pandemic. Moreover, with its mobile app allowing customers to bank 24/7, the firm’s technological infrastructure helped offset the temporary closure of its branches.

Pentagon Federal Credit Union

5-Year CD APY:	1.30%
Min. Deposit:	$1,000
Monthly Service Fee:	$0
FDIC/NCUA Insured:	Yes
Learn More

Pentagon Federal’s Money Market Certificates should be on your radar. For context, they’re nearly identical to CDs: they require you to lock in your funds for a specified period, and early withdrawal penalties apply. Also, the minimum deposit is $1,000. However, Pentagon Federal’s MMCs have terms ranging from six months to seven years, and APYs ranging from 0.45% to 1.50%. To that point, its 1-year MMC has a 0.85% APY, and its 15-month MMC has a 1.00% APY. Moreover, there are no monthly account fees, and your deposits are NCUA-insured up to $250,000 per person, per account. As a result, the interest rates are attractive if you’re comfortable locking in your funds for these durations.

As for early withdrawal fees, the penalties are steep. For example, withdrawing your money within the first year results in the forfeiture of 365 days of dividends. And after one year, the penalty is 30% of potential gross rewards had the MMC reached maturity. However, while Pentagon Federal has roughly 50 branches in 13 states the firm’s products are available nationwide, and you can apply for membership online with only a $5 deposit. As a result, Pentagon Federal’s 1-year MMC — which has the highest APY in the marketplace for that category — is a solid option for all Americans.

Pros:

• Pentagon Federal’s 1-year MMC has the highest APY in the marketplace.
• The offer is available nationwide.

Cons:

• None.

Who is the account best suited for?

• If you’re comfortable banking online, Pentagon Federal’s 1-year MMC should be at the top of your list.

The impact of COVID-19:

While the coronavirus pandemic impacted some Pentagon Federal branches, its mobile app helped clients navigate the uncertainty. In addition, the credit union offered forbearance options that helped ease the burden. However, like the other institutions on our list, Pentagon Federal’s APY was impacted by the Fed’s monetary policy.

First National Bank of America

5-Year CD APY:	1.25%
Min. Deposit:	$1,000
Monthly Service Fee:	$0
FDIC/NCUA Insured:	Yes
Learn More

First National Bank of America has CDs with terms that range from one year to seven years and APYs that range from 0.65% to 1.35%. Moreover, there are no monthly account fees, and your deposits are FDIC-insured up to $250,000 per person, per account. However, you need to make a minimum deposit of $1,000 to start investing.

Despite that, First National Bank of America doesn’t list any restrictions for its online CDs. For example, the community bank is headquartered in Michigan and serves customers in the surrounding areas. As a result, all of its branches are in the state. However, the firm doesn’t list any state restrictions for its online CDs. In addition, its FAQs reveal that online CDs have the same APYs as in-branch CDs. Thus, the offer should be available nationwide. However, please note that First National Bank of America provides a detailed breakdown of its early withdrawal fees. The charges are as follows:

• For CDs with terms that range from one to 11 months, the early withdrawal penalty is 90 days’ interest.
• For CDs with terms that range from 12 to 23 months, the early withdrawal penalty is 180 days’ interest.
• For CDs with terms that range from 24 to 47 months, the early withdrawal penalty is 360 days’ interest.
• For CDs with terms that range from 48 to 84 months, the early withdrawal penalty is 540 days’ interest.

Pros:

• First National Bank of America’s CDs have solid APYs and they should be available nationwide.

Cons:

• None.

Who is the account best suited for?

• First National Bank of America is a solid fallback option if you can’t obtain a CD with a higher APY.

The impact of COVID-19:

First National Bank of America likely benefited less than others during the pandemic since it doesn’t have a capital markets division. However, deposits should have increased, and its mobile app helped Americans keep track of their finances while mobility restrictions were in place.

Connexus Credit Union

5-Year CD APY:	1.21%
Min. Deposit:	$5,000
Monthly Service Fee:	$0
FDIC/NCUA Insured:	Yes
Learn More

With a smaller slate of maturities and mid-range APYs, Connexus Credit Union is neither hot nor cold. For example, its CDs have terms that range from one year to five years, and its APYs range from 0.61% to 1.21%. Moreover, there are no monthly account fees, and your deposits are NCUA-insured up to $250,000 per person, per account. However, with a $5,000 minimum deposit requirement, Connexus Credit Union has some of the highest eligibility standards on our list. As a result, other CDs in the marketplace have more value.

Despite that, you can open a Connexus Credit Union CD online, and the firm’s products are available across 50 states. And with 24/7 access to your account online or through Connexus Credit Union’s mobile app, it’s a solid backup plan if you don’t qualify for a CD elsewhere. As for early withdrawal penalties, the firm’s charges vary by maturity:

• For CDs with terms of one year or less, the early withdrawal penalty is 90 days’ interest on the amount withdrawn.
• For CDs with terms of more than one year and less than five years, the early withdrawal penalty is 180 days’ interest on the amount withdrawn.
• For CDs with terms of more than five years, the early withdrawal penalty is 365 days’ interest on the amount withdrawn.

Pros:

• Connexus Credit Union’s CDs have solid APYs and are available nationwide.

Cons:

• The minimum balance to start investing is $5,000.

Who is the account best suited for?

• Connexus Credit Union is a solid fallback option if you can’t obtain a CD with a higher APY.

The impact of COVID-19:

With financial markets uplifted during the pandemic, Connexus Credit Union’s free investment consultation service likely encouraged clients to invest and increased the firm’s fee income. In addition, the firm helped eligible clients obtain their advanced Child Tax Credit payments.

Quontic Bank

5-Year CD APY:	1.20%
Min. Deposit:	$500
Monthly Service Fee:	$0
FDIC/NCUA Insured:	Yes
Learn More

Quontic Bank is a solid digital solution for your short-term savings. However, all of your banking occurs online, and there is no in-person service. Despite that, its CD terms range from six months to five years, and its APYs range from 0.55% to 1.20%. More importantly, Quontic Bank’s 6-month and 2-year CDs have the highest APYs in the marketplace for their respective categories. And of course, there are no monthly account fees, and your deposits are FDIC-insured up to $250,000 per person, per account. As a result, if you’re comfortable managing your money online, then Quontic Bank is one of the best in the business.

Moreover, you only need $500 to get started, and you can open an account in as little as three minutes. However, please note that early withdrawals are only permissible if Quontic Bank grants the request. If not, you may have to wait until your CD matures to obtain your funds. In addition, approvals are subject to the following charges: