Best Certificate of Deposit & High Yield Savings Accounts
By: Conor Keenan Last updated September 14, 2025
Conor Keenan, co-founder of CompareAccounts, is a notable personal finance expert with work seen in Wall Street Journal, CNN, Fox News, MSN & Yahoo Finance.
Editorial Independence: Our opinions, reviews, and recommendations are our own and not influenced by financial institutions or partners. Partner commissions keep our site free, but our content remains independent and is not commissioned by any partner or financial institution.
Compare high yield savings + short & longer term CDs to see which account is right for you now.
High Yield Savings Accounts:
Annual Percentage Yield (APY)
3.50% APY
APY as of September 14, 2025
On American Express® National Bank's
Secure Site, Member FDIC
Best For: High Yield Savings + Award-Winning Service
Earn a competitive 3.50% Annual Percentage Yield (APY) as of September 14, 2025 with the American Express® High Yield Savings Account — a top-tier rate from a brand known for trust, stability, and exceptional service.
Interest compounds daily and is deposited monthly, helping your savings grow effortlessly.
Enjoy no monthly fees, no minimum balance requirements, and 24/7 U.S.-based customer support.
Your deposits are FDIC insured up to $250,000 per depositor, offering you complete peace of mind.
Manage your savings easily through the American Express® App, where you can check balances, deposit funds, track transactions, and stay in control — anytime, anywhere.
If you're looking for a secure, reliable place to grow your savings — backed by award-winning service — the American Express® High Yield Savings Account is a clear standout.
See American Express National Bank's Secure Site For More Details.
Best For: High APY Interest Rates
Western Alliance Bank offers 4.30% APY exclusively through the Raisin Platform.
This APY is substantially higher than what you’ll find at most brick-and-mortar banks and even most online banks.
In addition to this high APY, Western Alliance offers $0 monthly maintenance fees, unlimited withdrawals, and is insured by the FDIC for up to $250,000 per depositor.
Customer service is located in New York, NY and is available via email and phone. You'll have online access to your funds 24/7.
Western Alliance Bank is consistenly ranked among the top banks. The bank has over $80 Billion in Assets and were ranked #1 top-performing large bank with assets greater than $50 billion in 2021, 2022, 2023 & 2024 by American Banker. Serving clients across the country wherever business happens.
Limited Time Offer: New customers can earn a $75 bonus for $10K, $250 bonus for $25K, $500 bonus for $50K deposited or $1,000 bonus for $100K deposited or more. Use promo code EASY at sign-up.
See Raisin's Secure Site for Western Alliance Bank For More Details.
4.20% APY
On Openbank By Santander Bank, N.A.
Secure Site, Member FDIC
Best For: High APY From An Online Bank
Openbank was built by Santander, a top global bank with nearly 170 million customers worldwide and is best for consumers looking for an online bank with a highly competitive yield on a savings account without monthly fees or transaction fees.
This high yield savings account offers 4.20% APY with a minimum opening deposit of $500. Terms Applyⓘ
As of 2023, Santander’s total assets were almost $2 trillion (USD) worldwide.
As the biggest 100% digital bank in Europe, Openbank was created to make banking simple & seamless. Join millions around the world & start earning a higher APY now.
See Openbank by Santander's Secure Site For More Details.
State Disclosure
• Openbank High Yield Savings is currently available to individuals who reside in the 50
states and the District of Columbia.
General Disclosure:
• *Interest Rates and Annual Percentage Yields (APYs) are accurate as of 12:01 AM ET
as of September 14, 2025. The products and rates we offer may vary between
locations, are available in select markets only, and are subject to change without notice.
Rate for this product will be based on the residential ZIP code entered when account is
opened within online application process. This is a variable-rate account and the rate
applicable may change at our discretion any time without notice. A minimum deposit of
$500 is required to open a Openbank High Yield Savings account. Personal accounts
only.
Openbank is a division of Santander Bank, N.A. Member FDIC. There is a maximum of
$250,000 of deposit insurance from the FDIC per depositor for each category of account
ownership. Visit FDIC.gov for details. Deposits at Santander Bank, N.A., and Openbank
are combined for the purposes of calculating FDIC insurance limits (FDIC Cert #29950)
and are not separately insured.
Openbank Customer Service Phone Support is available to help Monday-Saturday, 8:00 AM
to 8:00 PM ET or visit www.openbank.us/help.
4.20% APY
On Openbank By Santander Bank, N.A.
Secure Site, Member FDIC
Best For: High APY From An Online Bank
Openbank was built by Santander, a top global bank with nearly 170 million customers worldwide and is best for consumers looking for an online bank with a highly competitive yield on a savings account without monthly fees or transaction fees.
This high yield savings account offers 4.20% APY with a minimum opening deposit of $500. Terms Applyⓘ
As of 2023, Santander’s total assets were almost $2 trillion (USD) worldwide.
As the biggest 100% digital bank in Europe, Openbank was created to make banking simple & seamless. Join millions around the world & start earning a higher APY now.
See Openbank by Santander's Secure Site For More Details.
State Disclosure
• Openbank High Yield Savings is currently available to individuals who reside in the 50
states and the District of Columbia.
General Disclosure:
• *Interest Rates and Annual Percentage Yields (APYs) are accurate as of 12:01 AM ET
as of September 14, 2025. The products and rates we offer may vary between
locations, are available in select markets only, and are subject to change without notice.
Rate for this product will be based on the residential ZIP code entered when account is
opened within online application process. This is a variable-rate account and the rate
applicable may change at our discretion any time without notice. A minimum deposit of
$500 is required to open a Openbank High Yield Savings account. Personal accounts
only.
Openbank is a division of Santander Bank, N.A. Member FDIC. There is a maximum of
$250,000 of deposit insurance from the FDIC per depositor for each category of account
ownership. Visit FDIC.gov for details. Deposits at Santander Bank, N.A., and Openbank
are combined for the purposes of calculating FDIC insurance limits (FDIC Cert #29950)
and are not separately insured.
Openbank Customer Service Phone Support is available to help Monday-Saturday, 8:00 AM
to 8:00 PM ET or visit www.openbank.us/help.
4.20% APY
On Openbank By Santander Bank, N.A.
Secure Site, Member FDIC
Best For: High APY From An Online Bank
Openbank was built by Santander, a top global bank with nearly 170 million customers worldwide and is best for consumers looking for an online bank with a highly competitive yield on a savings account without monthly fees or transaction fees.
This high yield savings account offers 4.20% APY with a minimum opening deposit of $500. Terms Applyⓘ
As of 2023, Santander’s total assets were almost $2 trillion (USD) worldwide.
As the biggest 100% digital bank in Europe, Openbank was created to make banking simple & seamless. Join millions around the world & start earning a higher APY now.
See Openbank by Santander's Secure Site For More Details.
State Disclosure
• Openbank High Yield Savings is currently available to individuals who reside in the 50
states and the District of Columbia.
General Disclosure:
• *Interest Rates and Annual Percentage Yields (APYs) are accurate as of 12:01 AM ET
as of September 14, 2025. The products and rates we offer may vary between
locations, are available in select markets only, and are subject to change without notice.
Rate for this product will be based on the residential ZIP code entered when account is
opened within online application process. This is a variable-rate account and the rate
applicable may change at our discretion any time without notice. A minimum deposit of
$500 is required to open a Openbank High Yield Savings account. Personal accounts
only.
Openbank is a division of Santander Bank, N.A. Member FDIC. There is a maximum of
$250,000 of deposit insurance from the FDIC per depositor for each category of account
ownership. Visit FDIC.gov for details. Deposits at Santander Bank, N.A., and Openbank
are combined for the purposes of calculating FDIC insurance limits (FDIC Cert #29950)
and are not separately insured.
Openbank Customer Service Phone Support is available to help Monday-Saturday, 8:00 AM
to 8:00 PM ET or visit www.openbank.us/help.
4.20% APY
On Openbank By Santander Bank, N.A.
Secure Site, Member FDIC
Best For: High APY From An Online Bank
Openbank was built by Santander, a top global bank with nearly 170 million customers worldwide and is best for consumers looking for an online bank with a highly competitive yield on a savings account without monthly fees or transaction fees.
This high yield savings account offers 4.20% APY with a minimum opening deposit of $500. Terms Applyⓘ
As of 2023, Santander’s total assets were almost $2 trillion (USD) worldwide.
As the biggest 100% digital bank in Europe, Openbank was created to make banking simple & seamless. Join millions around the world & start earning a higher APY now.
See Openbank by Santander's Secure Site For More Details.
State Disclosure
• Openbank High Yield Savings is currently available to individuals who reside in the 50
states and the District of Columbia.
General Disclosure:
• *Interest Rates and Annual Percentage Yields (APYs) are accurate as of 12:01 AM ET
as of September 14, 2025. The products and rates we offer may vary between
locations, are available in select markets only, and are subject to change without notice.
Rate for this product will be based on the residential ZIP code entered when account is
opened within online application process. This is a variable-rate account and the rate
applicable may change at our discretion any time without notice. A minimum deposit of
$500 is required to open a Openbank High Yield Savings account. Personal accounts
only.
Openbank is a division of Santander Bank, N.A. Member FDIC. There is a maximum of
$250,000 of deposit insurance from the FDIC per depositor for each category of account
ownership. Visit FDIC.gov for details. Deposits at Santander Bank, N.A., and Openbank
are combined for the purposes of calculating FDIC insurance limits (FDIC Cert #29950)
and are not separately insured.
Openbank Customer Service Phone Support is available to help Monday-Saturday, 8:00 AM
to 8:00 PM ET or visit www.openbank.us/help.
Up to $300 Bonus
Annual Percentage Yield (APY)
4.50% APY
with qualifying activities
On SoFi®'s Secure Site,
Member FDIC
Best For: Bonus + Large Deposits
SoFi redefines banking with a commitment to no fees—no monthly fees, no overdraft fees, and no account minimums.
Bonus: up to $300 with direct deposit.ⓘ
In addition to the bonus, you'll enjoy up to 4.50% annual percentage yield (APY) on savings balances with qualifying activities and 0.50% APY on checking balances, fee-free overdraft coverage up to $50 and access your direct deposit funds up to two days early, giving you greater financial flexibility. Terms apply.
The current savings APY without direct deposit is 1.00%. Although this is still higher than the national average, if you don't plan on setting up direct deposit, you should look at the other offers on this list unless you want more FDIC insurance.
Your deposits are FDIC-insured up to $250,000 per depositor and you can also access up to $3,000,000 of additional FDIC insurance through a network of participating banks. Ensuring your money stays safe and secure.
Limited Time Offer: New account holders earn +0.70% boost to 4.50% on their Savings APY for up to 6 months with eligible direct deposit. Terms apply.
1. Up to $300 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 4.50% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
2. APY disclosures
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 4.50% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
3. Fee Policy
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/receivingbanks
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.
8. 0.70% Savings APY Boost
Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Short Term CDs:
Best For: High APY + Bonus
Term: 4 Months
APY: 4.31%
Western Alliance Bank offers 4.31% APY exclusively through the Raisin Platform on their 4 month CD.
Interest compounds daily and is posted to your account monthly.
This CD is a great fit if you're looking for a high APY but want access to your money sooner than other CD terms.
In addition to this high APY, Western Alliance offers $0 monthly maintenance fees and is insured by the FDIC for up to $250,000 per depositor.
Customer service is located in New York, they are available via phone or email. You'll also have 24/7 access to your account and funds.
Western Alliance Bank was founded in 1994 and is consistenly ranked among the top banks. They were ranked #1 top-performing large bank with assets greater than $50 billion in 2021 by both American Banker and Bank Director. Serving clients across the country wherever business happens.
Limited Time Offer: New customers can earn a $75 bonus for $10K, $250 bonus for $25K, $500 bonus for $50K deposited or $1,000 bonus for $100K deposited or more. Use promo code EASY at sign-up.
See Raisin's Secure Site for Western Alliance Bank to Get More Details.
3.50% APY
On Discover Bank's Secure Site,
Member FDIC
Best For: Online Banking Experience + Customer Service
Term: 6 Months
APY: 3.50%
Discover Bank offers 3.50% APY with no monthly fees and no minimum deposit required to open an account on their 6 Month CD.
Discover Bank is one of the first online focused banks to offer no monthly fees and what they call "No. Fees. Period."
Deposits are insured through the FDIC for up to $250,000 per depositor and if you have any questions Discover offers 100% U.S.-based Customer Service Available 24/7.
Interest compounds daily on this offer so lock in your 6 Month CD rate today & start earning guaranteed interest now.
See Discover Bank's Secure Site For More Details.
3.75% APY
On Raisin's Secure Site
for Western Alliance Bank,
FDIC Insured
Best For: Shorter Term + High APY
Term: 6 Months
APY: 3.75%
Western Alliance Bank offers 3.75% APY exclusively through the Raisin Platform on their 6 month CD.
Interest compounds daily and is posted to your account monthly.
This CD is a great fit if you're looking for a high APY but want access to your money sooner than other CD terms.
In addition to this high APY, Western Alliance offers $0 monthly maintenance fees and is insured by the FDIC for up to $250,000 per depositor.
Customer service is located in New York, they are available via phone or email. You'll also have 24/7 access to your account and funds.
Western Alliance Bank was founded in 1994 and is consistenly ranked among the top banks. They were ranked #1 top-performing large bank with assets greater than $50 billion in 2021 by both American Banker and Bank Director. Serving clients across the country wherever business happens.
Limited Time Offer: New customers can earn a $75 bonus for $10K, $250 bonus for $25K, $500 bonus for $50K deposited or $1,000 bonus for $100K deposited or more. Use promo code EASY at sign-up.
See Raisin's Secure Site for Western Alliance Bank to Get More Details.
Compare With
Not Recommended
1.00% APY
Not Recommended. Shown For Comparison Purposes Only.
Term: 6 Months
APY: 1.00%
Chase Bank is one of the largest and most well known banks in the United States. Unfortunately, they offer a low 1.00% APY on their 6 month CD.
This is their "Relationship Rate."
You must have a linked Chase personal checking account to receive these rates. Otherwise, you'll receive 0.01% APY
Because of the bottom barrel APY and the need to link a personal checking account, we don't recommend you opening a CD with Chase Bank.
3.50% APY
On Discover Bank's Secure Site,
Member FDIC
Best For: Online Banking Experience + Customer Service
Term: 9 Months
APY: 3.50%
Discover Bank offers 3.50% APY with no monthly fees and no minimum deposit required to open an account on their 9 Month CD.
Discover Bank is one of the first online focused banks to offer no monthly fees and what they call "No. Fees. Period."
Deposits are insured through the FDIC for up to $250,000 per depositor and if you have any questions Discover offers 100% U.S.-based Customer Service Available 24/7.
Interest compounds daily on this offer so lock in your 9 Month CD rate today & start earning guaranteed interest now.
See Discover Bank's Secure Site For More Details.
Longer Term CDs:
3.90% APY
On Raisin's Secure Site
for Sallie Mae, Member FDIC
Best For: High Interest Rates
Term: 10 Months
APY: 3.90%
Earn 3.90% APY when you open a 10-month Certificate of Deposit from Sallie Mae® Bank, available exclusively through the secure Raisin platform.
This short-term CD gives you one of the most competitive rates on the market — perfect for savers who want strong returns without locking up funds for years.
Sallie Mae® Bank is a trusted name in finance, with more than $30 billion in assets and a legacy that dates back to 1972. Known for supporting educational and financial success, Sallie Mae brings decades of experience to your savings goals. Now, through Raisin, they’re offering an incredibly strong CD option with powerful perks.
With $0 monthly maintenance fees and full FDIC insurance up to $250,000 per depositor, your savings are not only growing — they’re protected.
Raisin also gives you the option to expand your coverage up to $10 million in federal deposit insurance by spreading funds across its network of partner banks, all through a single secure login.
You’ll have 24/7 access to your account and funds online, and if you ever need assistance, the U.S.-based customer service team is available by phone Monday through Friday, from 9:00 a.m. to 4:00 p.m. ET. You can also reach out anytime via secure message or email.
Limited Time Offer: New customers can earn a $75 bonus for $10K, $250 bonus for $25K, $500 bonus for $50K deposited or $1,000 bonus for $100K deposited or more. Use promo code EASY at sign-up.
See Raisin's Secure Site for Sallie Mae® Bank For More Details.
Annual Percentage Yield (APY)
3.50% APY
APY as of September 14, 2025
On CIT Bank's Secure Site,
Member FDIC
Best For: No Penalty Fees
Term: 11 Months
APY: 3.50%
CIT Bank has been helping customers for over 100 years. Founded in 1908, CIT Bank is now part of First Citizens BancShares, Inc.
CIT Bank offers 3.50% APY on their 11 Month No Penalty CD with no monthly fees.
There is no penalty to access funds if needed before maturity.
You can open a CIT Bank 11 Month No Penalty CD with as little as $1,000 and it only takes about 5 minutes to complete the sign-up process.
Deposits are insured through the FDIC for up to $250,000 per depositor and interest compounds daily to maximize your earning potential. Terms Applyⓘ
See CIT Bank's Secure Site For More Details.
11 Month No Penalty CD Disclosure
APY — Annual Percentage Yield is accurate as of March 20, 2025. $1,000 minimum to open the account. With a No-Penalty CD, you may withdraw the total balance and interest earned, without penalty, beginning 7 days after funds have been received for your CD. No withdrawals are permitted during the first 6 days following the receipt of funds.
- For complete list of account details and fees, see our Personal Account disclosures. please visit: https://cit-fcb-t.cit.com/cit-
bank/resources/forms
Compare With
Not Recommended
2.00% APY
Not Recommended. Shown For Comparison Purposes Only.
Term: 12 Months
APY: 2.00%
Wells Fargo is also one of the largest banks in the United States and also offers a very low APY for their CD accounts.
They currently offer a sad 2.00% APY on their 12 Month CD.
They require a minimum opening deposit of $2,500 and depending on where you live, your interest rate may vary as rates vary from state to state.
Because of the bottom barrel APY and varying rates by state, we don't recommend you opening a savings account with Wells Fargo.
4.00% APY
On Discover Bank's Secure Site,
Member FDIC
Best For: Online Banking Experience + Customer Service
Term: 12 Months
APY: 4.00%
Discover Bank offers 4.00% APY with no monthly fees and no minimum deposit required to open an account on their 12 Month CD.
Discover Bank is one of the first online focused banks to offer no monthly fees and what they call "No. Fees. Period."
Deposits are insured through the FDIC for up to $250,000 per depositor and if you have any questions Discover offers 100% U.S.-based Customer Service Available 24/7.
Interest compounds daily so lock in your 12 Month CD rate today & start earning guaranteed interest now.
See Discover Bank's Secure Site For More Details.
Compare With
Not Recommended
0.03% APY
Not Recommended. Shown For Comparison Purposes Only.
Term: 12 Months
APY: 0.03%
Bank of America, another large bank that offers nearly nothing on their CDs.
They currently offer a regretful 0.03% APY on their 12 Month CD.
Bank of America requires a minimum opening deposit of $1,000 to earn this sad, low APY.
Because of there are better options on this page to earn a higher APY from trusted banks, we don't recommend you opening a CD with Bank of America.
Annual Percentage Yield (APY)
3.50% APY
APY as of September 14, 2025
On CIT Bank's Secure Site,
Member FDIC
Best For: High APY Interest Rates + Mobile App
Term: 13 Months
APY: 3.50%
CIT Bank offers 3.50% APY, as of September 14, 2025, on their 13 Month CD with no monthly fees.
CIT Bank’s mobile app give you 24/7 access to your CD account. The mobile app is available for both IOS & Android devices.
You can open a CIT Bank 13 Month CD with as little as $1,000 and it only takes about 5 minutes to complete the sign-up process.
Deposits are insured through the FDIC for up to $250,000 per depositor and interest compounds daily to maximize your earning potential. Terms Applyⓘ
See CIT Bank's Secure Site For More Details.
13- Month CD Disclosure
APY — Annual Percentage Yield is accurate as of March 20, 2025. $1,000 minimum deposit is required to open the account. A penalty may be imposed for early withdrawal of principal, and any early withdrawal (principal or interest) will reduce earnings. Upon maturity, the 13-Month CD will be automatically renewed as a 1-Year Term CD at the then-published APY.
- For complete list of account details and fees, see our Personal Account disclosures. please visit: https://cit-fcb-t.cit.com/cit-
bank/resources/forms
Best For: Good Term + High APY
Term: 14 Months
APY: 4.00%
Limited Time Offer: New customers can earn a $75 bonus for $10K, $250 bonus for $25K, $500 bonus for $50K deposited or $1,000 bonus for $100K deposited or more. Use promo code EASY at sign-up.
Sallie Mae Bank (Member FDIC) was founded in 1972 and has grown with almost $30 billion in total assets and has some of the highest CD rates around.
Sallie Mae bank currently offers 4.00% APY on their 14 month CD, exclusively through the Raisin Platform.
Customer service is located in New York with representatives available via phone Monday - Friday 9:00am - 4:00 pm ET. You can also email or send them a message through the secure message center at any time.
This account comes with $0 monthly maintenance fees and is insured by the FDIC for up to $250,000 per depositor.
You'll have 24/7 access to your account and funds.
Sallie Mae has been putting educational & financial success within reach for more than 50 years, let them help you today.
See Raisin's Secure Site for Sallie Mae® Bank For More Details.
3.60% APY
On Discover Bank's Secure Site,
Member FDIC
Best For: Longer Term + Customer Service
Term: 24 Months
APY: 3.60%
Discover Bank offers 3.60% APY with no monthly fees and no minimum deposit required to open an account on their 24 Month CD.
Discover Bank is one of the first online focused banks to offer no monthly fees and what they call "No. Fees. Period."
Deposits are insured through the FDIC for up to $250,000 per depositor and if you have any questions Discover offers 100% U.S.-based Customer Service Available 24/7.
Interest compounds daily so lock in your 24 Month CD rate today & start earning guaranteed interest now.
See Discover Bank's Secure Site For More Details.
To recap our recommendations.
Best Savings Accounts According To CompareAccounts™
American Express® High Yield Savings Account: 3.50% APY as of September 14, 2025
Western Alliance Bank® High Yield Savings Account: 4.30% APY - Earn up to $1,000 with Promo Code: EASY
SoFi® Checking and Savings: 4.50% APY & Earn up to $300 with qualifying activities
To recap our recommendations.
Best Certificate of Deposits According To CompareAccounts™
Western Alliance Bank® High-Yield CD: 4.31% APY - 4 Month Term - Earn up to $1,000 with Promo Code: EASY
Discover® Bank Certificate of Deposit Account: 3.50% APY - 6 Month Term
Western Alliance Bank® High-Yield CD: 3.75% APY - 6 Month Term - Earn up to $1,000 with Promo Code: EASY
Discover® Bank Certificate of Deposit Account: 3.50% APY - 9 Month Term
Sallie Mae® Bank Certificate of Deposit: 3.90% APY - 10 Month Term - Earn up to $1,000 with Promo Code: EASY
CIT Bank® No Penalty Certificate of Deposit Account: 3.50% APY - 11 Month Term
Discover® Bank Certificate of Deposit Account: 4.00% APY - 12 Month Term
CIT Bank® Certificate of Deposit Account: 3.50% APY - 13 Month Term
Sallie Mae® Bank Certificate of Deposit: 4.00% APY - 14 Month Term - Earn up to $1,000 with Promo Code: EASY
Discover® Bank Certificate of Deposit Account: 3.60% APY - 24 Month Term
Customers Also Viewed These Checking Accounts
Up to $300 Bonus
On SoFi's Secure Site,
Member FDIC
Best For: Bonus + Annual Percentage Yield
SoFi redefines banking with a commitment to no fees—no monthly fees, no overdraft fees, and no account minimums.
Bonus: up to $300 with direct deposit.ⓘ
In addition to the bonus, you'll enjoy up to 4.50% annual percentage yield (APY) on savings balances with qualifying activities and 0.50% APY on checking balances, fee-free overdraft coverage up to $50 and access your direct deposit funds up to two days early, giving you greater financial flexibility. Terms apply.
Withdraw cash without fees using your SoFi Debit Mastercard® from a network of 55,000+ ATMs, and make transactions seamless with SoFi’s intuitive, mobile-first banking. Use the app to transfer money, pay bills, deposit checks, or track your savings—all at your fingertips.
Your deposits are FDIC-insured up to $250,000 per depositor, ensuring your money stays safe and secure.
1. Up to $300 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 4.50% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
2. APY disclosures
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 4.50% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
3. Fee Policy
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at SoFi.com/banking/fdic/terms See list of participating banks at SoFi.com/banking/fdic/receivingbanks
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with Eligible Direct Deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.
8. 0.70% Savings APY Boost
Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Best For: No Monthly Fees + Bonus*
New BMO Smart Advantage Checking customers can earn a $400 Cash Bonus* when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening between 9/9/25 - 1/28/26.
This account offers no monthly fees with paperless statements, available overdraft protection services & access to 40,000+ fee-free ATMs nationwide.
You can easily transfer money using Zelle®, locate a nearby ATM, deposit checks & more with the BMO Digital Banking app.
The BMO Debit Mastercard® offers security & convenience with benefits like satisfaction guarantee, Mastercard Global Service® & more.
Open your account today and set up direct deposit to help you unlock this bonus.
*Conditions apply. Accounts are subject to approval and are provided in the U.S. by BMO Bank N.A., Member FDIC
See BMO Bank's Secure Site For More Details & Other Offers.
What to Look for in a Certificate of Deposit Account
It’s always wise to compare your options when opening a new certificate of deposit account.
Small differences in interest rates and fees can quickly add up over time, especially if you’re keeping a large balance in the account.
Here are the top features to look for and compare:
1. Interest Rate
The interest rate of a certificate of deposit is one of its most important features. However, a very high interest rate can get completely wiped out if you have to pay a penalty fee because you need to withdrawal your funds before the term is complete.
Besides interest rate, term length is the second most important factor. Other important features of your certificate of deposit account include the required initial deposit, and minimum balance required.
2. Term Length
Most banks will charge you what’s called a “penalty fee” for withdrawing your funds before the term length has been completed.
This means, that if you open a 12-month CD, but withdraw your funds within 6 months, then you’ll pay a penalty fee.
Therefore, you need to decide when you’ll need these funds again.
For any term less than a year, we recommend a high-yield savings account.
If this is your first CD account, we recommend starting with a 12 – 15 month term.
If you’ve opened a CD account in the past, then you choose which term is right for you and your unique situation.
3. Required Initial Deposit
Initial deposit is another important factor when deciding to open up a certificate of deposit. Most banks require at least a $500 initial deposit to open a CD account.
While others require much more than $500 to open the account.
Again, because the initial deposit is in the hundreds if not thousands, we recommend you open a high-yield savings account if you need these funds within a year.
*National Savings Rate Average as published by FDIC