Best CD Rates for November 2024: Up to 4.75%

Overview: Bread Savings (formerly Comenity Direct) is an online-only banking division of Bread Financial (formerly Comenity Bank). Despite the unusual name, the bank has a lineup of online CD rates worth considering. Terms range from three months to five years. The $1,500 minimum balance is somewhat high among online banks.

Fees: No monthly or opening fees, which is standard for CDs. Bread Savings charges a penalty for early withdrawals that’s a little steeper than some online banks: about six months of interest for CD terms from one to three years and one year of interest for four- and five-year CDs.

Other products: Bread Savings also features a high-yield savings account, but no checking account, so it’s a bank for savers.

Bread Savings™️ CD rates:

1-year CD: 4.30% APY

3-year CD: 3.90% APY

5-year CD: 3.85% APY

Overview: An online bank owned by a Fortune 500 company, Synchrony Bank has a stellar lineup of CDs with terms ranging from three months to five years. The range of terms is fairly standard, but Synchrony stands out for offering more variety of CD types than the typical bank. It offers a no-penalty CD, which allows you to withdraw the full amount early at no cost, and a bump-up CD, which lets you raise your rate once during the term. Unlike many banks, Synchrony has no minimum opening requirement.

Fees: Early withdrawal penalties include: three months of interest for CDs of one-year terms or shorter; six months of interest for CDs of terms longer than one year and shorter than four years; and one year of interest for four-year CDs and longer. These penalties are on the higher side among online banks. No monthly or opening costs outside of these penalties exist, which is standard for CDs.

Other products: Synchrony Bank offers IRA CDs for the retirement-minded as well as a money market account and high-yield savings account. It doesn’t have checking accounts, though, so Synchrony is best for saving money.

Synchrony Bank CD rates:

9-month CD: 4.05% APY

1-year CD: 4.00% APY

3-year CD: 3.75% APY

5-year CD: 4.00% APY

Overview: BMO Alto is the U.S. online-only division of BMO, all under the Canada-based parent bank BMO Financial Group. BMO Alto's online CDs have high rates and no minimum opening deposit requirement, whereas many online banks have minimum deposits such as $500 or $1,000. CD terms go from six months to five years, which is a standard range. Note that all the money you have across divisions of BMO Financial Group (including BMO and Bank of the West) counts toward the same FDIC insurance limit for one institution.

Fees: No monthly or opening fees, which is normal for CDs. BMO Alto’s early withdrawal penalties include three months of interest for CD terms of 11 months or shorter and six months of interest for CD terms of one year or longer. These penalties are low.

Other products: BMO Alto also offers a high-yield savings account, but no checking account, so the bank is best for saving money.

BMO Alto CD rates:

1-year CD: 4.30% APY

3-year CD: 3.90% APY

5-year CD: 4.00% APY

Overview: Marcus is the Goldman Sachs branch launched in 2016 that handles online banking products, including an extensive lineup of CDs with terms from six months to six years. Six years is unusual; most banks’ CD terms stop at five years. Rates include its one-year CD with 4.10% APY (annual percentage yield) as of 11/08/2024. The minimum of $500 is lower than at many banks, though some have no minimum. The bank has two specialty types of CDs: a 20-month bump-up CD and three no-penalty CD terms, which include seven months, 11 months and 13 months. These specialty CDs are rare and have perks beyond the typical CD, such as the ability to request a rate increase for a bump-up CD and the freedom to redeem a no-penalty CD earlier than maturity at no cost.

Fees: No monthly or opening fees, which is normal for CDs. If you withdraw early from a standard Marcus CD, the penalty is the following: three months’ worth of interest earned for CD terms up to a year, six months of interest for CD terms of one to five years and nine month’s worth of interest for the six-year CD. These penalties are lower than at some online banks.

Other products: Its savings account’s rate is solid. The bank doesn't, however, offer mobile apps, ATMs, branches or checking accounts, so it’s best for letting the interest on your money grow.

Marcus CD rates:

1-year CD: 4.10% APY

3-year CD: 3.65% APY

5-year CD: 3.60% APY

Overview: Started in 2016, Popular Direct is the online branch of the New York-chartered Popular Bank. It has one of the highest opening minimum requirements to open a CD among online banks, $10,000, but it may be worthwhile. Terms range from three months to five years.

Fees: No monthly or opening fees. Its early withdrawal penalties include four months of interest for six-month CDs, nine months of interest for CD terms of one- and two-year CDs and one year of interest for CD terms of three and four years. The five-year CD penalty is two years of interest.

Other products: Popular Direct has a high-yield savings account and a minimal mobile app but no branches, ATM network or checking account.

Popular Direct CD rates:

1-year CD: 4.35% APY

3-year CD: 3.40% APY

5-year CD: 3.35% APY

Overview: The online banking arm of student loan provider Sallie Mae provides nearly a dozen CD terms from six months to five years, with a focus on short-term CDs. It’s unusual for a bank to have as many high-yield CD terms as Sallie Mae does, and that can be helpful if you’re looking for that period between one- and two-year savings. The $2,500 minimum is somewhat hefty.

Fees: Withdrawing early results in a penalty, either 90 days of interest for CDs of one year or shorter or 180 days of interest for CDs of longer terms. These penalties are in line with those at other online banks. There are no monthly or opening fees, which is normal for CDs.

Other products: Sallie Mae also has various savings accounts, but no checking account, so the bank is best as a place for savings.

Sallie Mae CD rates:

1-year CD: 4.10% APY

3-year CD: 3.60% APY

5-year CD: 3.75% APY

Overview: NASA Federal Credit Union is a credit union that serves NASA employees as well as anyone who joins the National Space Society. The credit union offers free one-year membership to the nonprofit. Credit unions with nationwide membership often require prospective members to join an affilitated association, but they don’t always make it free. NASA FCU’s share certificates (or certificates) have strong rates across its standard range of terms from six months to five years. The opening minimum is $1,000 for standard certificates and $10,000 for certificate specials, which have atypical term lengths such as 49 months. While certificate specials have higher rates, they tend to renew into certificates with lower rates at a term length close to the original certificate.

Fees: No monthly or opening fees, which is standard for certificates. Withdrawing funds early, not including dividends (or interest) earned, results in a penalty of about six months’ worth of dividends for terms of two years or shorter. Terms longer than two year have a penalty of one year’s worth of dividends.

Other products: NASA FCU also has checking, savings and loans.

NASA Federal Credit Union share certificate rates:

1-year share certificate: 4.30% APY

3-year share certificate: 4.00% APY

Overview: First Internet Bank, as its name suggests, is one of the earliest online banks, created in 1999. Its full name is First Internet Bank of Indiana, though the bank operates nationwide. The bank’s CDs have a standard range of terms from three months to five years and a somewhat low minimum deposit of $1,000. Rates are competitive across the board.

Fees: No monthly or opening fees, which is normal for CDs. Early withdrawal penalties are some of the steepest for online banks, such as 90 days of interest for three-month CDs and 180 days of interest for six-month CDs. The cost of withdrawing early from a CD shorter than one year is effectively all the interest earned. Longer terms have either a half or full year’s worth of interest as a penalty.

Other products: First Internet Bank provides checking and savings accounts as well as loans. Unlike some online banks, it doesn’t limit its offerings to savings-specific accounts.

First Internet Bank CD rates:

1-year CD: 4.42% APY

3-year CD: 3.77% APY

5-year CD: 3.67% APY

Overview: Ally Bank, an online-only institution originally founded by General Motors, offers a high-quality banking experience. It has an unusually diverse set of CDs, including a no-penalty CD and bump-rate CDs. There’s no minimum deposit.

Fees: If you withdraw early from a regular Ally CD, the penalty varies by term: About two months of interest for two-year terms and shorter, three months of interest for 18-month and three-year CDs, four months of interest for four-year CDs and five months of interest for five-year CDs.

Other products: Ally has a wide variety of accounts and loans.

List of Ally CD rates:

1-year: 4.00% APY

3-year: 3.40% APY

5-year: 3.40% APY

Overview: Andrews Federal Credit Union is a credit union that serves members of the military as well as anyone who joins the nonprofit American Consumer Council. Andrews’ fixed-rate share certificates have a somewhat low minimum deposit of $1,000 and a range of terms from six months to seven years. Yields are mostly competitive. The credit union also has other types of share certificates for higher minimums, retirement and other use cases.

Fees: No monthly or opening fees. Andrews charges an early withdrawal penalty of 90 days (3 months) of dividends for share certificates with terms shorter than two years and 180 days (6 months) of dividends for share certificates with terms of two years or longer, which aren’t too steep as far as certificates’ penalties go.

Other products: Andrews offers a standard range of bank accounts, investments, loans and insurance plans, among other accounts.

Andrews Federal fixed-rate share certificate rates:

1-year share certificate: 4.30% APY

3-year share certificate: 3.85% APY

Overview: Capital One, one of the biggest U.S. credit card issuers, is also an online bank with strong savings tools and CD options. Terms have a standard range from six months to five years, and there’s no minimum to open, which is an uncommon perk. Capital One has more customer service channels than most online banks thanks to its handful of cafes in major cities nationwide that function like branches, as well as phone support.

Fees: No monthly or opening fees, which is standard for CDs. The early withdrawal penalty for 1-year CDs and shorter terms is three months of interest and the penalty for longer terms is six months. These are lower penalties than at some banks.

Other products: Capital One boasts a strong selection of online accounts, including checking, savings and money market accounts.

Capital One CD rates:

1-year CD: 4.00% APY

3-year CD: 3.60% APY

5-year CD: 3.50% APY

Overview: E*TRADE is an online trading platform owned by Morgan Stanley Private Bank, but it also offers bank accounts, including a standard range of CDs. Terms go from six months to five years, and there’s no minimum to open, which is a nice perk. E*TRADE’s bank CDs are distinct from its CDs offered for brokerage accounts, which are brokered CDs.

Fees: Early withdrawal penalties vary by each CD term and tend to be steep among online banks. For example, withdrawing early from one-year CDs costs 90 days’ (3 months’) worth of interest and withdrawing from five-year CDs costs 450 days (15 months) of interest.

Other products: E*TRADE also has high-yield checking and savings accounts.

E*TRADE CD rates:

1-year CD: 4.25% APY

3-year CD: 3.60% APY