Best CD Rates of 2024

Compare Certificate of Deposit Accounts
  • Compare our recommended CD accounts from our partners
  • Certificate of Deposit account independent ratings & reviews
  • National 1 Month CD Rate Average*: 0.23%
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Compare high yield certificate of deposit accounts with ease, find the right one for you, and open your account in minutes.

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

Fund your new account & take advantage of the power of compound interest today!

Rating:

APY

4.40%

7 Month Term

  • High Yield CD
  • Term: 7 Months
  • APY up to 4.40%
  • 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

Western Alliance Bank Powered by Raisin

Rating:

APY

5.23%

6 Month Term

  • High Yield CD
  • Min. initial deposit: $1
  • Term: 6 Months
  • 5.23% 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
  • 3.5x the National Avg. APY
  • See Site for Details

On Raisin's Secure Site for Western Alliance Bank,
FDIC Insured

Discover Bank Logo

Rating:

APY

4.25%

9 Month CD

  • High Yield CD
  • Term: 9 Months
  • Min. Initial Deposit: $2,500
  • 4.25% 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

Chase Bank Logo

Rating:

APY

0.05%

6 Month Term

Chase Bank Details

  • Certificate of Deposit
  • Term: 6 Months
  • Minimum Opening Deposit: $10,000 for APY
  • 0.05% APY
  • Offers lower minimum deposit of $1,000 for 0.02% APY
  • Must have a linked Chase personal checking account to receive these rates. Otherwise, you'll receive 0.01% APY

Not Recommended.
Shown For Comparison Purposes Only.

 

Sun Canyon Bank Powered By Raisin

Rating:

APY

5.18%

11 Month Term

  • High Yield CD
  • Min. initial deposit: $1
  • Term:  11 Months
  • 5.18% APY
  • FDIC Insured up to $250,000
  • No Monthly Fees
  • Interest Compounded Daily
  • Exclusive Offer Powered by The Raisin Platform
  • 3.6x the National Avg. APY
  • Sun Canyon BankTM is a division of Banterra® Bank, which has $3 billion in assets & is ranked in the Top 10% of U.S. Charter Banks.
  • See Site for Details

On Raisin's Secure Site
for Sun Canyon Bank,
FDIC Insured

Discover Bank Logo

Rating:

APY

4.90%

12 Month CD

  • High Yield CD
  • Term: 12 Months
  • Min. Initial Deposit: $2,500
  • 4.90% 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

 

Western Alliance Bank Powered by Raisin

Rating:

APY

4.71%

12 Month Term

  • High Yield CD
  • Min. initial deposit: $1
  • Term: 12 Months
  • 4.71% 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
  • 2.7x the National Avg. APY
  • See Site for Details

On Raisin's Secure Site for Western Alliance Bank,
FDIC Insured

 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.

 

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

 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.

 

Discover Bank Logo

Rating:

APY

4.20%

24 Month CD

  • High Yield CD
  • Term: 24 Months
  • Min. Initial Deposit: $2,500
  • 4.20% 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

 

To recap our recommendations.

Best Certificate of Deposits According To CompareAccounts™

U.S. Bank® Certificate of Deposit Account: up to 4.40% APY - 7 Month Term

Western Alliance Bank® High Yield CD: 4.71% APY - 12 Month Term

Explore More Options:
Haven't found the right rate yet? We've got you covered. Raisin.com, our trusted partner, connects you to a vast network of over 50 financial institutions, each with competitive rates to suit your savings needs & offers you the opportunity to get millions in federal deposit insurance through its network. See more certificate of deposit offers now.

Customers Also Viewed These High Yield Savings Accounts

4.50% APY

Rating:

On U.S. Bank National Association's
Secure Site, Member FDIC

Best For: Branch Access

U.S. Bank offers new Elite Money Market Account clients up to 4.50% APY with a $25,000 deposit. 

A minimum $100 initial deposit is required to open the account.

U.S. Bank has over 2,000 branch locations in more than half of U.S. states.

Deposits are insured through the FDIC for up to $250,000 per depositor and if you have any questions U.S. Bank offers "24-Hour Banking" meaning a customer service representative is available 24/7.

In order to earn the 4.50% APY, you must have a balance of $25,000 or more. If you're planning on depositing less than $25,000, we recommend choosing a different account.

Avoid maintence fees with an average daily balance of $10,000 or more.

See U.S. Bank's Secure Site For More Details.

American Express High Yield Savings Account Logo

Annual Percentage Yield (APY)

4.35% APY

APY as of February 20, 2024

Rating:

 On American Express National Bank's Secure Site, Member FDIC

Best For: Competitive APY From An Online Bank

American Express is best known for their suite of incredibly rewarding credit cards. They also offer a high yield savings account with a competitive Annual Percentage Yield (APY) of 4.35% as of February 20, 2024.

Other benefits of this account include $0 monthly fees, 24/7 Customer Service, FDIC insurance up to $250,000 per depositor and the fact it's backed by the service & reliability of American Express, it's a no brainer as to why so many people are signing up.

To top it off, you can easily check balance and transaction history, deposit funds, and more within the American Express® App.

See American Express National Bank's Secure Site For More Details.

Discover Bank Logo

4.30% APY

Rating:

On Discover Bank's Secure Site,
Member FDIC

Best For: Online Banking Experience + No Fees

Discover Bank offers 4.30% APY with no monthly fees and $0 initial deposit.

Discover Bank is one of the first online focused banks to offer no monthly fees and what they call "No. Fees. Period."

Whereas other banks may charge you a fee for certain services, Discover won't charge you a fee on any of the following items: monthly maintenance, official bank check, expedited delivery for official bank checks, deposited item returned, stop payment order, insufficient funds, or for closing your account.

If you're looking for a competitive APY with "No. Fees. Period." this account is for you.

See Discover Bank's Secure Site For More Details.

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.

*National Savings Rate Average as published by FDIC