Advertiser Disclosure
Q

Your Financial Well-Being Comes First.

We believe everyone should have free access to the right information to make smart financial decisions. Although our site doesn’t showcase every financial institution and its products available we're confident in our recommendations to help guide you on your financial journey. Free of charge for you.

Instead of charging you money, we're compensated by our partners and third-party advertisers. This compensation, along with our proprietary algorithms, may, at times, influence the products we decide to review, discuss, and their position on our site or the order in which they appear. Trust that these actions are taken to benefit you the consumer ultimately make the right decision for you.

Best 1-Year Certificate of Deposit Accounts

  • Compare our recommended short term CD & rates from our partners
  • Independent CD ratings & reviews
  • National Savings Rate Average*: 0.33%
  • See 10x & higher rates from our partners

Compare CD terms with ease, find the right one for you, and open your account in minutes.

Open your new short term CD with confidence. Each of our recommendations is federally insured up to $250,000 per depositor.

Fund your new short term CD as soon as possible & take advantage of the power of compound interest today!

 

 No Penalty CD 

Cit Bank Logo

Rating:

APY

4.15%

11 Month Term

  • High Yield No Penalty CD
  • Term: 11 Months
  • 4.15% 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

High Yield CD

American First High Yield Money Market Savings Account Logo

Rating:

APY

4.50%

12 Month Term

  • High Yield CD
  • Min. initial deposit: $1
  • 4.50% APY
  • American First is Federally Insured by NCUA, the National Credit Union Administration
  • NCUA Insured up to $250,000
  • No Monthly Fees
  • 4.9x National Avg. APY
  • Interest Compounded Daily
  • American First Has Served Its Members for Over 70 Years
  • Not-For-Profit Financial Institution
  • See Site for Details

On American First Federal Credit Union's Secure Site, NCUA Insured

 

Idabel National Bank Logo

Rating:

12 Month Term

APY

4.90%

  • High Yield CD Account
  • Min. initial deposit: $1
  • 4.90% APY
  • FDIC Insured up to $250,000
  • No Monthly Fees
  • 24 /7 Access to Funds
  • 3.6x National Avg. APY
  • Interest Compounded Daily
  • An Independent Community Bank Since 1921
  • See Site for Details

On Idabel National Bank's Secure Site, FDIC Insured

 Compare With

Bank of America Logo

Rating:

APY

0.03%

12 Month Term

Bank of America® Details

  • Certificate of Deposit
  • Term: 12 Months
  • Minimum Opening Deposit: $10,000
  • 0.03% APY

Not Recommended.
Shown For Comparison Purposes Only.

 

Logo for ponce bank savings account

Rating:

10 Month Term

APY

2.90%

mph.bank CD Details

  • High Yield Certificate of Deposit
  • Term: 10 Months
  • 2.90% APY
  • 3.2x National Average
  • Min. initial deposit: $1
  • No Maintenance Fees
  • Interest Compounds Daily
  • FDIC Insured up to $250,000
  • See Site for Details

On MPH Bank's Secure Site, FDIC Insured

 High APY Rate 

Cit Bank Logo

Rating:

APY

4.65%

13 Month Term

CIT Bank® CD Details

  • High Yield CD
  • Term: 13 Months
  • 4.65% APY
  • Min. initial deposit: $1,000
  • No Maintenance Fees
  • Interest Compounded Daily
  • FDIC Insured up to $250,000
  • Sign up in under 5 Minutes
  • See Site for Details

On CIT Bank's Secure Site, Member FDIC

Discover Bank Logo

Rating:

APY

4.50%

12 Month CD

  • High Yield CD
  • Term: 12 Months
  • Min. Initial Deposit: $2,500
  • 4.50% 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

 

 Compare With

Wells Fargo Logo

Rating:

APY

1.50%

12 Month Term

Wells Fargo Details

  • Certificate of Deposit
  • Term: 12 Months
  • Minimum Opening Deposit: $2,500
  • 1.50% APY
  • Interest Rates Vary from State to State
  • For Terms of 12 Months+, Interest May Be Paid Monthly, Quarterly, Semi-Annually, or Annually.

Not Recommended.
Shown For Comparison Purposes Only.

 

SkyOne Logo

Rating:

12 Month Term

APY

4.20%

  • High Yield Certificate of Deposit
  • Term: 12 Months
  • 4.20% APY
  • Min. initial deposit: $1
  • No Maintenance Fees
  • 24/7 Online Access to Your Account & Funds.
  • Interest Compounded Daily
  • Federally Insured up to $250,000
  • 4.6x higher than National Average
  • See Site for Details

On SkyOne Federal Credit Union's Secure Site, NCUA Insured

Patriot Bank Logo

Rating:

APY

2.75%

13 Month Term

Patriot Bank CD Details

  • High Yield CD
  • Term: 13 Months
  • 2.75% APY
  • Min. initial deposit: $1
  • No Maintenance Fees
  • Interest Compounds Daily
  • Founded in 1994
  • FDIC Insured up to $250,000
  • See Site for Details

On Patriot Bank's Secure Site, FDIC Insured

Discover Bank Logo

Rating:

APY

4.30%

24 Month CD

  • High Yield CD
  • Term: 24 Months
  • Min. Initial Deposit: $2,500
  • 4.30% 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

 

To recap our recommendations.

Best Certificate of Deposits According To CompareAccounts™

SkyOne Certificate of Deposit Account: 4.20% APY - 12 Month Term

Customers Also Viewed These High Yield Accounts

Logo for ponce bank savings account

Rating:

APY

4.50%

1 Month Term

  • High Yield CD
  • Term: 1 Month
  • 4.50% APY
  • Min. initial deposit: $1
  • FDIC Insured up to $250,000
  • No Monthly Fees
  • 24 /7 Access to Funds
  • 30x National Avg. APY vs. Other 1 Month CDs
  • Certified Community Development Financial Institution
  • Interest Compounded Daily
  • See Site for Details

On Ponce Bank's Secure Site, FDIC Insured

 

Discover Bank Logo

Rating:

APY

4.30%

24 Month CD

  • High Yield CD
  • Term: 24 Months
  • Min. Initial Deposit: $2,500
  • 4.30% 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

 

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 – 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.

Pros & Cons of a 1-Year CD:

A certificate of deposit (CD) is a type of deposit account that is offered by banks and credit unions. It typically requires you to deposit a sum of money for a set period of time, after which you can withdraw your funds plus any interest earned. A 1-year CD is a type of CD with a term of 1 year.

Benefits of a 1-year CD:

  • Low risk: CDs are considered a very low-risk investment. Your money is FDIC-insured up to $250,000 per depositor, per institution, so you can feel confident that your money is safe.
  • Predictable returns: With a 1-year CD, you know exactly what your interest rate will be for the term of the CD, so you can plan accordingly.
  • Flexibility: A 1-year CD may be a good option if you don’t want to commit to a longer term CD but still want to earn a higher interest rate than a savings account. You can also choose to ladder your CDs, which means you have CDs with different term lengths, so you have some that mature every year. This allows you to take advantage of potentially higher interest rates in the future.

Detriments of a 1-year CD:

  • Opportunity cost: If you invest your money in a 1-year CD, you won’t be able to access it for the term of the CD without paying an early withdrawal penalty. This means that if you need to use your money before the CD matures, you’ll lose out on some of the interest you would have earned.

    If you think you may need your money before 12 months, we recommend either a high yield savings account or a short term certificate of deposit.

  • Limited returns: The interest rates on CDs are generally lower than other types of investments, such as stocks or mutual funds. This means that you may not earn as much on your money as you would with other types of investments.

    CDs are low risk, lower reward investments. If you value a guarenteed return over a potentially higher return, they’re a good product for you.

*National Savings Rate Average as published by FDIC

Q

Before You Go, Don't Miss This High Yield CD

1 Month Term

Logo for ponce bank savings account

Rating:

APY

4.50%

On Ponce Bank's Secure Site, Member FDIC

Advertiser Disclosure
Q

Your Financial Well-Being Comes First.

We believe everyone should have free access to the right information to make smart financial decisions. Although our site doesn’t showcase every financial institution and its products available we're confident in our recommendations to help guide you on your financial journey. Free of charge for you.

Instead of charging you money, we're compensated by our partners and third-party advertisers. This compensation, along with our proprietary algorithms, may, at times, influence the products we decide to review, discuss, and their position on our site or the order in which they appear. Trust that these actions are taken to benefit you the consumer ultimately make the right decision for you.

Best 1-Year CD Accounts

Compare CD terms with ease, find the right one for you, and open your account in minutes.

Open your new short term CD with confidence. Each of our recommendations is federally insured up to $250,000 per depositor.

Fund your new short term CD as soon as possible & take advantage of the power of compound interest today!

 

High Yield CD

American First High Yield Money Market Savings Account Logo

Rating:

APY

4.50%

12 Month Term

  • High Yield CD
  • Min. initial deposit: $1
  • 4.50% APY
  • American First is Federally Insured by NCUA, the National Credit Union Administration
  • NCUA Insured up to $250,000
  • No Monthly Fees
  • 4.9x National Avg. APY
  • Interest Compounded Daily
  • American First Has Served Its Members for Over 70 Years
  • Not-For-Profit Financial Institution
  • See Site for Details

On American First Federal Credit Union's Secure Site, NCUA Insured

 

Idabel National Bank Logo

Rating:

12 Month Term

APY

4.90%

  • High Yield CD Account
  • Min. initial deposit: $1
  • 4.90% APY
  • FDIC Insured up to $250,000
  • No Monthly Fees
  • 24 /7 Access to Funds
  • 3.6x National Avg. APY
  • Interest Compounded Daily
  • An Independent Community Bank Since 1921
  • See Site for Details

On Idabel National Bank's Secure Site, FDIC Insured

 Compare With

Bank of America Logo

Rating:

APY

0.03%

12 Month Term

Bank of America® Details

  • Certificate of Deposit
  • Term: 12 Months
  • Minimum Opening Deposit: $10,000
  • 0.03% APY

Not Recommended.
Shown For Comparison Purposes Only.

 

Logo for ponce bank savings account

Rating:

10 Month Term

APY

2.90%

mph.bank CD Details

  • High Yield Certificate of Deposit
  • Term: 10 Months
  • 2.90% APY
  • 3.2x National Average
  • Min. initial deposit: $1
  • No Maintenance Fees
  • Interest Compounds Daily
  • FDIC Insured up to $250,000
  • See Site for Details

On MPH Bank's Secure Site, FDIC Insured

Discover Bank Logo

Rating:

APY

4.50%

12 Month CD

  • High Yield CD
  • Term: 12 Months
  • Min. Initial Deposit: $2,500
  • 4.50% 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

 

 Compare With

Wells Fargo Logo

Rating:

APY

1.50%

12 Month Term

Wells Fargo Details

  • Certificate of Deposit
  • Term: 12 Months
  • Minimum Opening Deposit: $2,500
  • 1.50% APY
  • Interest Rates Vary from State to State
  • For Terms of 12 Months+, Interest May Be Paid Monthly, Quarterly, Semi-Annually, or Annually.

Not Recommended.
Shown For Comparison Purposes Only.

 

SkyOne Logo

Rating:

12 Month Term

APY

4.20%

  • High Yield Certificate of Deposit
  • Term: 12 Months
  • 4.20% APY
  • Min. initial deposit: $1
  • No Maintenance Fees
  • 24/7 Online Access to Your Account & Funds.
  • Interest Compounded Daily
  • Federally Insured up to $250,000
  • 4.6x higher than National Average
  • See Site for Details

On SkyOne Federal Credit Union's Secure Site, NCUA Insured

Patriot Bank Logo

Rating:

APY

2.75%

13 Month Term

Patriot Bank CD Details

  • High Yield CD
  • Term: 13 Months
  • 2.75% APY
  • Min. initial deposit: $1
  • No Maintenance Fees
  • Interest Compounds Daily
  • Founded in 1994
  • FDIC Insured up to $250,000
  • See Site for Details

On Patriot Bank's Secure Site, FDIC Insured

Discover Bank Logo

Rating:

APY

4.30%

24 Month CD

  • High Yield CD
  • Term: 24 Months
  • Min. Initial Deposit: $2,500
  • 4.30% 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

 

To recap our recommendations.

Best Certificate of Deposits According To CompareAccounts™

SkyOne Certificate of Deposit Account: 4.20% APY - 12 Month Term

Customers Also Viewed These High Yield Accounts

Logo for ponce bank savings account

Rating:

APY

4.50%

1 Month Term

  • High Yield CD
  • Term: 1 Month
  • 4.50% APY
  • Min. initial deposit: $1
  • FDIC Insured up to $250,000
  • No Monthly Fees
  • 24 /7 Access to Funds
  • 30x National Avg. APY vs. Other 1 Month CDs
  • Certified Community Development Financial Institution
  • Interest Compounded Daily
  • See Site for Details

On Ponce Bank's Secure Site, FDIC Insured

 

Discover Bank Logo

Rating:

APY

4.30%

24 Month CD

  • High Yield CD
  • Term: 24 Months
  • Min. Initial Deposit: $2,500
  • 4.30% 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

 

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 – 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.

Pros & Cons of a 1-Year CD:

A certificate of deposit (CD) is a type of deposit account that is offered by banks and credit unions. It typically requires you to deposit a sum of money for a set period of time, after which you can withdraw your funds plus any interest earned. A 1-year CD is a type of CD with a term of 1 year.

Benefits of a 1-year CD:

  • Low risk: CDs are considered a very low-risk investment. Your money is FDIC-insured up to $250,000 per depositor, per institution, so you can feel confident that your money is safe.
  • Predictable returns: With a 1-year CD, you know exactly what your interest rate will be for the term of the CD, so you can plan accordingly.
  • Flexibility: A 1-year CD may be a good option if you don’t want to commit to a longer term CD but still want to earn a higher interest rate than a savings account. You can also choose to ladder your CDs, which means you have CDs with different term lengths, so you have some that mature every year. This allows you to take advantage of potentially higher interest rates in the future.

Detriments of a 1-year CD:

  • Opportunity cost: If you invest your money in a 1-year CD, you won’t be able to access it for the term of the CD without paying an early withdrawal penalty. This means that if you need to use your money before the CD matures, you’ll lose out on some of the interest you would have earned.

    If you think you may need your money before 12 months, we recommend either a high yield savings account or a short term certificate of deposit.

  • Limited returns: The interest rates on CDs are generally lower than other types of investments, such as stocks or mutual funds. This means that you may not earn as much on your money as you would with other types of investments.

    CDs are low risk, lower reward investments. If you value a guarenteed return over a potentially higher return, they’re a good product for you.

*National Savings Rate Average as published by FDIC

Q

Don't Miss This High Yield CD

1 Month Term

Logo for ponce bank savings account

Rating:

APY

4.50%

On Ponce Bank's Secure Site, Member FDIC