Earn More on Your Savings – Compare Today’s Best CD Rates
By: Conor Keenan Last updated February 09, 2026
Conor Keenan is the Co-Founder of CompareAccounts and an Accredited Wealth Management Advisor candidate. He has covered consumer banking & investing trends for over a decade, his work has appeared in The Wall Street Journal, Reuters & Yahoo Finance.
Editorial Independence: Our opinions, reviews, and recommendations are our own. Partner commissions keep our site free, but our content remains independent.
You’re in the right place. Every day, we help thousands of people cut through the noise to open FDIC-insured accounts we trust for our own families and friends. Compare CD rates and high-yield savings accounts side-by-side to find your best return right now.
Short Term CDs:
3.60% APY
On Raisin's Secure Site
for Western Alliance Bank,
FDIC Insured
Best For: Short Term + High APY From a Top Bank
Term: 3 Months
Western Alliance Bank offers 3.60% APY exclusively through the Raisin Platform on their 3 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.
The Raisin platform also offers you the opportunity to access up to $10 million in federal deposit insurance through its network, all from a single secure login.
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.
See Raisin's Secure Site for Western Alliance Bank to Get More Details.
3.75% APY
On CIT Bank's Secure Site,
Member FDIC
Best For: High APY + Shorter Term
Term: 6 Months
CIT Bank currently offers 3.75% APY on their 6 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 6 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.
6 Month CD Disclosure
1 Annual Percentage Yields (APYs) for all Term CDs are accurate as of January 9, 2026. A penalty may be imposed for early withdrawal of principal, and any early withdrawal (principal or interest) will reduce earnings.
2 Upon maturity, CDs are renewed for the same term automatically. The exception to this are the 13-Month CD and the 18-Month CD; upon maturity, the 13-Month CD will be automatically renewed as a 1-Year Term CD at the then-published APY, and the 18-Month CD will be automatically renewed as a 2-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
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.
3.65% APY
On Raisin's Secure Site
for Sallie Mae, Member FDIC
Best For: High Interest Rates
Term: 10 Months
APY: 3.65%
Earn 3.65% 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.
See Raisin's Secure Site for Sallie Mae® Bank For More Details.
Longer Term CDs:
Annual Percentage Yield (APY)
3.75% APY
APY as of February 09, 2026
On CIT Bank's Secure Site,
Member FDIC
Best For: No Penalty Fees
Term: 11 Months
APY: 3.75%
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 3.75% APY1 on their 11 Month No Penalty CD with no monthly fees.
There is no penalty to access funds if needed before maturity.2
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
1 APY — Annual Percentage Yield is accurate as of January 9, 2026. $1,000 minimum to open the account.
2 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
3.80% APY
On Synchrony Bank's
Secure Site, Member FDIC
Best For: High APY From a Fortune 500 Bank
Term: 12 Months
APY: 3.80%
Synchrony Bank’s 12-Month CD combines a competitive APY with the security of a fixed term, all with no minimum deposit required to open. Whether you’re saving for a big purchase, a tax bill, or just want your money working harder than in a savings account, this CD delivers a guaranteed return.
Interest is compounded daily and credited monthly, so your balance grows steadily. With terms available from 3 months to 5 years, Synchrony gives you the flexibility to align your savings with your financial goals.
You’ll never pay monthly maintenance fees and accessing your account is simple through Synchrony’s online banking and mobile app, giving you control at your fingertips.
Synchrony is a Member FDIC which means your deposits are federally insured up to $250,000 per depositor.
Founded in 2003, Synchrony is a Fortune 500 company and ranked among the nation’s leading consumer banks, Synchrony has built a reputation for helping customers grow their money with competitive rates and dependable service. Terms Applyⓘ
See Synchrony Bank's Secure Site For More Details.
Annual Percentage Yield (APY) is subject to change at any time without notice. Offer applies to personal non-IRA accounts only. Fees may reduce earnings. For CD accounts, a penalty may be imposed for early withdrawals. After maturity, if your CD rolls over, you will earn the offered rate of interest in effect at that time. Visit synchrony.com/banking for current rates, terms and account requirements. Member FDIC.
3.75% APY
On Raisin's Secure Site
for Sallie Mae, Member FDIC
Best For: Good Term + High APY
Term: 14 Months
APY: 3.75%
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 3.75% 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.
High APY
4.00% APY
On Synchrony Bank's
Secure Site, Member FDIC
Best For: High APY From a Fortune 500 Bank
Term: 14 Months
APY: 4.00%
Synchrony Bank’s 14-Month CD combines a competitive APY with the security of a fixed term, all with no minimum deposit required to open. Whether you’re saving for a big purchase, a tax bill, or just want your money working harder than in a savings account, this CD delivers a guaranteed return.
Interest is compounded daily and credited monthly, so your balance grows steadily. With terms available from 3 months to 5 years, Synchrony gives you the flexibility to align your savings with your financial goals.
You’ll never pay monthly maintenance fees and accessing your account is simple through Synchrony’s online banking and mobile app, giving you control at your fingertips.
Synchrony is a Member FDIC which means your deposits are federally insured up to $250,000 per depositor.
Founded in 2003, Synchrony is a Fortune 500 company and ranked among the nation’s leading consumer banks, Synchrony has built a reputation for helping customers grow their money with competitive rates and dependable service. Terms Applyⓘ
See Synchrony Bank's Secure Site For More Details.
Annual Percentage Yield (APY) is subject to change at any time without notice. Offer applies to personal non-IRA accounts only. Fees may reduce earnings. For CD accounts, a penalty may be imposed for early withdrawals. After maturity, if your CD rolls over, you will earn the offered rate of interest in effect at that time. Visit synchrony.com/banking for current rates, terms and account requirements. Member FDIC.
High Yield Savings Accounts:
Best For: High APY Interest Rates
Western Alliance Bank offers 3.80% APYⓘ on their High-Yield Savings Premier account.
In addition to this high APY, Western Alliance offers $0 account activity or maintenance fees and is insured by the FDIC for up to $250,000 per depositor.
The minimum deposit required to open an individual or joint account is $500 & a minimum balance of $0.01 is required to earn the advertised APY.
U.S.-based customer service support is available from 6 a.m. to 6 p.m. PDT Monday - Friday.
Western Alliance Bank was founded in 1994, has over $80 billion in assets and is consistently ranked among the top banks.
They were ranked #1 Top-Performing Large Bank with Assets $50 billion and Above in 2021, 2022, & 2023 by American Banker. They were ranked again by American Banker and Bank Director as a top U.S. bank in 2022, 2023 and 2024.
See Western Alliance Bank's Secure Site For More Details.
Western Alliance Bank APY Disclosure
ⓘ The annual percentage yield (APY) is accurate as of January 20, 2026 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.Best For: High APY Interest Rates
Western Alliance Bank offers 3.80% APYⓘ on their High-Yield Savings Premier account.
In addition to this high APY, Western Alliance offers $0 account activity or maintenance fees and is insured by the FDIC for up to $250,000 per depositor.
The minimum deposit required to open an individual or joint account is $500 & a minimum balance of $0.01 is required to earn the advertised APY.
U.S.-based customer service support is available from 6 a.m. to 6 p.m. PDT Monday - Friday.
Western Alliance Bank was founded in 1994, has over $80 billion in assets and is consistently ranked among the top banks.
They were ranked #1 Top-Performing Large Bank with Assets $50 billion and Above in 2021, 2022, & 2023 by American Banker. They were ranked again by American Banker and Bank Director as a top U.S. bank in 2022, 2023 and 2024.
See Western Alliance Bank's Secure Site For More Details.
Western Alliance Bank APY Disclosure
ⓘ The annual percentage yield (APY) is accurate as of January 20, 2026 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Annual Percentage Yield (APY)
3.75% APY
On CIT Bank®'s Secure Site,
Member FDIC
Best For: Customer Experience + High APY Interest Rates
CIT Bank ranked #1 in the nation for humanizing the customer experience in a recent survey conducted by American Banker of more than 5,000 consumers covering 50 financial institutions.
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 3.75% APY1 on their Platinum Savings account with no monthly fees. Minimum Balance for this APY is $5,000.
You can open a CIT Bank platinum savings account in as little as 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. Terms Applyⓘ
See CIT Bank's Secure Site For More Details.
Platinum Savings Account Disclosure
1 Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. *APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
For complete list of account details and fees, see our Personal Account disclosures.” (link:https://cit-fcb-t.cit.com/cit-bank/resources/forms)
Annual Percentage Yield (APY)
3.30% APY
APY as of February 09, 2026
On American Express® National Bank's
Secure Site, Member FDIC
Best For: High Yield Savings + Award-Winning Service
Earn a competitive 3.30% Annual Percentage Yield1 (APY) as of February 09, 2026 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 requirements2, 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. Terms Apply.ⓘ
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.
SeeAmerican Express National Bank's Secure Site For More Details.
Terms Disclosure:
1. The Annual Percentage Yield (APY) as advertised is accurate as of February 09, 2026. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. Interest Rate and APY of a Certificate of Deposit account is fixed once the account is funded
2. There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you.
3. iOS and Android only. See app store listings for operating system info.
4. For purposes of transferring funds to or from an external bank, business days are Monday through Friday, excluding federal holidays. Transfers can be initiated 24/7 via the website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business days will begin processing on the next business day. Funds deposited into your account may be subject to holds. See the Funds Availability section of your Consumer Deposit Account Agreement and Savings Schedules for more information.
Annual Percentage Yield (APY)
3.30% APY
APY as of February 09, 2026
On American Express® National Bank's
Secure Site, Member FDIC
Best For: High Yield Savings + Award-Winning Service
Earn a competitive 3.30% Annual Percentage Yield1 (APY) as of February 09, 2026 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 requirements2, 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. Terms Apply.ⓘ
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.
Terms Disclosure:
1. The Annual Percentage Yield (APY) as advertised is accurate as of February 09, 2026. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. Interest Rate and APY of a Certificate of Deposit account is fixed once the account is funded
2. There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you.
3. iOS and Android only. See app store listings for operating system info.
4. For purposes of transferring funds to or from an external bank, business days are Monday through Friday, excluding federal holidays. Transfers can be initiated 24/7 via the website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business days will begin processing on the next business day. Funds deposited into your account may be subject to holds. See the Funds Availability section of your Consumer Deposit Account Agreement and Savings Schedules for more information.
3.50% APY
On Synchrony Bank's
Secure Site, Member FDIC
Best For: High APY From a Fortune 500 Bank
Synchrony Bank is offering a 3.50% APY (annual percentage yield) on its High Yield Savings Account, that’s many times the national average. With no minimum balance to open and no monthly service fees, you can start earning more on your savings today.
Interest compounds daily and posts monthly, so your money is always working harder for you. Unlike CDs, you’ll still have full access to your cash whenever you need it. Perfect for an emergency fund or short-term goals.
Synchrony also makes managing your account easy: their mobile app gives you 24/7 access to your balance and transactions. And with FDIC insurance up to $250,000 per depositor, you’ll have peace of mind while your savings grow.
Founded in 2003, Synchrony is a Fortune 500 company and one of the largest consumer banks in the U.S., serving millions of customers nationwide. Terms Applyⓘ
See Synchrony Bank's Secure Site For More Details.
Annual Percentage Yield (APY) is subject to change at any time without notice. Offer applies to personal accounts only. Fees may reduce earnings. For High Yield Savings accounts, the rate may change after the account is opened. Visit synchrony.com/banking for current rates, terms and account requirements. Member FDIC.
To recap our recommendations.
Best Certificate of Deposits According To CompareAccounts™
Western Alliance Bank® High-Yield CD: 3.60% APY - 3 Month Term
CIT Bank® Certificate of Deposit Account: 3.75% APY - 6 Month Term
Sallie Mae® Bank Certificate of Deposit: 3.65% APY - 10 Month Term
CIT Bank® No Penalty Certificate of Deposit Account: 3.75% APY - 11 Month Term
Synchrony Bank Certificate of Deposit Account: 3.80% APY - 12 Month Term
Sallie Mae® Bank Certificate of Deposit: 3.75% APY - 14 Month Term
Synchrony Bank Certificate of Deposit Account: 4.00% APY - 14 Month Term
To recap our recommendations.
Best Savings Accounts According To CompareAccounts™
CIT Bank® Platinum Savings Account: 3.75% APY
American Express® High Yield Savings Account: 3.30% APY as of February 09, 2026
American Express® High Yield Savings Account: 3.30% APY as of February 09, 2026
Don't Miss This High Yield Savings Account
American Express® Savings
3.30% Annual Percentage Yield
as of February 09, 2026
Member FDIC
On American Express National Bank's
Secure Site, Member FDIC
Customers Also Viewed These Checking Accounts
Up to $300 Bonus
Annual Percentage Yield (APY)
4.00% 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 4.00% 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 or $5,000+ in qualifying deposits during the 31-day evaluation period is 1.00%. Although this is still higher than the national average, if you don't plan on setting up direct deposit or depositing $5,000+, 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. Earn a $50 or $300 bonus with direct deposit, terms apply.
Limited Time Offer: New account holders earn +0.70% boost to 4.00% 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 12/31/2026. 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 3.30% 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 3.30% 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 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
2. APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
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 Bank 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
may be incurred when using out-of-network ATMs. 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 a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
8. 0.70% Savings APY Boost
Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 3/30/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
$500 Bonus
On KeyBank's Secure Site,
Member FDIC
Best For: Mobile Banking + Big Bonus
This account offers an additional $100 cash bonus year after year with qualifying activities, available overdraft protection services & access to Free KeyBank and Allpoint® ATM access nationwide with your KeyBank Debit Mastercard®.
This account also offers relationship benefits like better interest rates on savings and money market accounts, more cash back, loan discounts and more.
Early Pay means you could get paid up to two days early with eligible direct deposits to a KeyBank account.
With secure online & mobile banking you can deposit checks in the mobile app, pay bills, send money, lock/unlock cards and more.
Easy direct deposit set up can have your paychecks or other recurring payments automatically deposited to your KeyBank account quickly and securely.
Accounts are subject to approval. Terms and conditions apply.
Overall, this is an excellent account from a respected bank with over $187 Billion in assets.
See KeyBank'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