Best High Yield CD Accounts of 2023
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- National 1 Year CD Rate Average*: 1.72%
- See almost 5x higher rates from our partners
APY
5.40%
3 Month Term
- High Yield CD
- Term: 3 Month
- 5.40% APY
- Min. initial deposit: $1
- FDIC Insured up to $250,000
- No Monthly Fees
- 24 /7 Access to Funds
- Certified Community Development Financial Institution
- Interest Compounded Daily
- See Site for Details
On Raisin's Secure Site for
Ponce Bank, FDIC Insured
APY
5.70%
6 Month Term
- High Yield CD
- Min. initial deposit: $1
- Term: 6 Months
- 5.70% APY
- FDIC Insured up to $250,000
- No Monthly Fees
- Interest Compounded Daily
- Ranked #1 Top-Performing Bank with Assets Greater Than $50 Billion in 2021
- Exclusive Offer Powered by The Raisin Platform
- 13.9x the National Avg. APY
- See Site for Details
On Raisin's Secure Site for Western Alliance Bank,
FDIC Insured
APY
4.90%
6 Month Term
Details
- CD Account
- Term: 6 Months
- $0 minimum balance
- 4.90% APY
- See Site for Details
On Synchrony Bank’s Secure Site, Member FDIC
APY
4.20%
7 Month Term
- High Yield CD
- Term: 7 Months
- APY up to 4.20%
- Min. initial deposit: $1,000
- No Maintenance Fees
- Interest Compounded Daily
- FDIC Insured up to $250,000
- Rates Vary by State & Zip Code
- See Site for Details
On U.S. Bank National Association's Secure Site, Member FDIC
No Penalty CD
APY
4.90%
11 Month Term
- High Yield No Penalty CD
- Term: 11 Months
- 4.90% APY
- Min. initial deposit: $1,000
- No Maintenance Fees
- No Penalty to Access Funds if Needed Before Maturity
- Daily Compounding Interest to Maximize Your Earning Potential
- FDIC Insured up to $250,000
- Sign up in under 5 Minutes
- See Site for Details
On CIT Bank's Secure Site, Member FDIC
APY
4.85%
12 Month CD
Details
- CD Account
- Term: 12 Months
- $1 Minimum balance
- 4.85% APY
On Capital One’s, Secure Site, Member FDIC
APY
5.20%
12 Month CD
- High Yield CD
- Term: 12 Months
- Min. Initial Deposit: $2,500
- 5.20% APY
- No Monthly Fees
- Lock in Your CD Rate & Earn Guaranteed Interest
- 100% U.S.-based Customer Service Available 24/7
- Interest Compounded Daily
- FDIC Insured up to $250,000
- See Site For Details
On Discover Bank's Secure Site, Member FDIC
High APY Rate
APY
5.51%
12 Month Term
- High Yield CD
- Min. initial deposit: $1
- Term: 12 Months
- 5.51% APY
- FDIC Insured up to $250,000
- No Monthly Fees
- Interest Compounded Daily
- Ranked #1 Top-Performing Bank with Assets Greater Than $50 Billion in 2021
- Exclusive Offer Powered by The Raisin Platform
- 14.8x the National Avg. APY
- See Site for Details
On Raisin's Secure Site for Western Alliance Bank,
FDIC Insured
High APY Rate
APY
5.25%
15 Month Term
- High Yield Certificate of Deposit
- Term: 15 Months
- 5.25% APY
- Min. initial deposit: $1
- Blue FCU is Federally Insured by NCUA, the National Credit Union Administration
- NCUA Insured up to $250,000
- No Monthly Fees
- 24 /7 Online Access to Funds
- 2.0x National Avg. APY
- Interest Compounded Daily
- Blue FCU Has Served Its Members for Over 70 Years
- See Site for Details
On Raisin's Secure Site for Blue FCU, NCUA Insured
APY
4.40%
24 Month CD
- High Yield CD
- Term: 24 Months
- Min. Initial Deposit: $2,500
- 4.40% APY
- No Monthly Fees
- Lock in Your CD Rate & Earn Guaranteed Interest
- 100% U.S.-based Customer Service Available 24/7
- Interest Compounded Daily
- FDIC Insured up to $250,000
- See Site For Details
On Discover Bank's Secure Site, Member FDIC
APY
4.30%
36 Month CD
Details
- CD Account
- $500 Minimum balance
- Term: 36 Months
- 4.30% APY
- Contact Center Available 24/7
- 10-Day CD Rate Guarantee. Details on Site.
On Marcus by Goldman Sachs’ Secure Site, Member FDIC
Customers Also Viewed These High Yield Savings Accounts:
APY
4.30%
- High Yield Savings Account
- Min. to Earn APY: $1
- Min. Initial Deposit: $0
- 4.30% APY
- APY as of December 04, 2023
- Interest Compounded Daily
- No Monthly Fees
- 24/7 Customer Service
- FDIC Insured up to $250,000
- Backed by the Service & Reliability of American Express
- Terms Apply
- See Site for Details
On American Express National Bank's Secure Site, Member FDIC
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 withdrawl 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 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