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Best 1-Year CD Rates Today, March 11, 2024: Up to 5.50%

8 months ago
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<p>Alice Morgan / Investopedia</p>

Alice Morgan / Investopedia

Reviewed by Michael J BoyleFact checked by Brian Abbott

The best 1-year CD rate is 5.50% APY from T Bank for 13 months. To find you the highest 1-year CD rates nationwide, we review CD rates from hundreds of banks and credit unions every day. Investopedia has been tracking CD rates since 2019. We look at factors that will help readers choose the best CD, like term, early withdrawal penalty, and minimum opening deposit.

CD terms of 10 to 14 months are eligible for our 1-year rankings, with minimum deposit requirements of up to $25,000. The CDs in this list may be a good fit if you’re looking to reach a short-term savings or investment goal. If a 1-year CD is too much of a commitment though, you can always consider the best CD rates for shorter terms or even a top-paying high-yield savings account.

Below are the top CD rates available from our partners, followed by the best CD rates that we’ve found from our research that are available to U.S. customers everywhere.

In the News

CD rates reached higher in 2023 than we’d seen in more than 20 years, pushed up by the Federal Reserve’s rate-hike campaign that began in March 2022 to tame decades-high inflation. For its last four meetings, however, the Fed has held the federal funds rate steady, and signaled on Jan. 31 that the committee’s rate-hike cycle has almost certainly ended. While most Fed members expect two to four rate decreases will occur in 2024, the Fed has cautioned that it could be some time before the first cut is implemented. CD yields closely follow the fed funds rate, so the Fed’s holding pattern has caused CD rates to plateau. But once it appears the Fed is ready to make a rate cut, CD rates are expected to fall.

You can find our ranking of the highest CD rates with terms of 10-14 months below. In cases where more than one institution pays the same annual percentage yield, we’ve prioritized CDs by the shortest term, then the CD requiring a smaller minimum deposit, and if still a tie, alphabetically by institution name.

The top 1-year CD rates listed below are current as of the previous business day.

Best 1-Year CD Rates

Our full ranking of the top-paying nationally available 1-year CDs is listed below, including details about minimum deposits and early withdrawal penalty. For credit union CDs, information is also provided on how to easily join the credit union.

Looking for a wider selection of CDs? See our picks for the best CD rates to see terms ranging from three months to 10 years.

T Bank – 5.50% APY

  • Term (months): 13
  • Minimum deposit: $1,000
  • Early withdrawal penalty: 3 months of interest
  • Overview: Headquartered in Dallas, T Bank is part of Tectonic Financial and was established in 2004.

Financial Resources Federal Credit Union – 5.43% APY

  • Term (months): 13
  • Minimum deposit: $500
  • Early withdrawal penalty: 6 months of interest
  • Membership: Anyone can join Financial Resources by signing up for a free membership in the American Consumer Council and holding $10 or more in an FRFCU savings account. Headquartered in Bridgewater, New Jersey, Financial Resources FCU dates back more than a century.

My eBanc – 5.41% APY

  • Term (months): 12
  • Minimum deposit: $5,000
  • Early withdrawal penalty: 3 months of interest
  • Overview: My eBanc is an online banking arm of the brick-and-mortar institution BAC Florida Bank, established in 1973.

ConnectOne Bank – 5.40% APY

  • Term (months): 11
  • Minimum deposit: $500
  • Early withdrawal penalty: 6 months of interest
  • About: Established in 2005 in Englewood Cliffs, New Jersey, ConnectOne operates more than two dozen branches in New Jersey and New York, while also serving nationwide customers online.

Apple Federal Credit Union – 5.40% APY

  • Term (months): 12
  • Minimum deposit: $500
  • Early-withdrawal penalty: All earned interest (6 months maximum)
  • About: Anyone can join Apple Federal by signing up for a $20 membership in the Northern Virginia Athletic Directors, Administrators, and Coaches Association, as well as keeping at least $5 in a savings account. Apple Federal was founded in 1956 in Virginia, where it operates more than 20 branches.

CFG Bank – 5.40% APY

  • Term (months): 12
  • Minimum deposit: $500
  • Early withdrawal penalty: 6 months of interest
  • About: Headquartered in Baltimore with two brick-and-mortar branches in that area, CFG offers select banking products online to customers throughout the country. It dates back to 1927.

USAlliance Financial – 5.40% APY

  • Term (months): 12
  • Minimum deposit: $500
  • Early withdrawal penalty: 6 months of interest
  • Overview: Anyone can join USAlliance by agreeing to a free membership in the nonprofit American Consumer Council and keeping at least $1 in a savings account. Established in 1966 to serve IBM employees, USAlliance is headquartered in Rye, New York.

Alliant Credit Union – 5.40% APY

  • Term (months): 12
  • Minimum deposit: $1,000
  • Early-withdrawal penalty: Number of days CD is open (3 months maximum)
  • About: Anyone can join Alliant by agreeing to a free membership in the nonprofit Foster Care to Success. Alliant originally was founded in 1935 to serve employees of United Airlines. It is headquartered in Chicago.

Expedition Credit Union – 5.40% APY

  • Term (months): 12
  • Minimum deposit: $2,500
  • Early-withdrawal penalty: 3 months of interest
  • Overview: Anyone is eligible for membership by joining the Expedition Foundation for a one-time, tax-deductible donation of $5. Founded in 1957, Expedition Credit Union is headquartered in Minnesota.

NexBank – 5.40% APY

  • Term (months): 12
  • Minimum deposit: $25,000
  • Early withdrawal penalty: 6 months of interest
  • About: Chartered in 1922, NexBank operates three branches in Dallas and serves customers nationwide with online banking.

CIBC Agility – 5.36% APY

  • Term (months): 12
  • Minimum deposit: $1,000
  • Early withdrawal penalty: 1 month of interest
  • About: Headquartered in Toronto, CIBC’s U.S. operations were established in 1991. CIBC Agility is the bank’s online banking arm.

MTC Federal Credit Union – 5.35% APY

  • Term (months): 11
  • Minimum deposit: $5,000
  • Early-withdrawal penalty: 1% of amount withdrawn plus $25
  • Membership: Anyone can join MTC by making a $25 donation to the South Carolina Koi & Water Garden Society and keeping at least $50 in a member savings account. The credit union was founded in 1976 to serve employees of Michelin and is headquartered in Greenville, South Carolina.

BrioDirect – 5.35% APY

  • Term (months): 12
  • Minimum deposit: $500
  • Early withdrawal penalty: 3 months of interest
  • About: BrioDirect is an online-only bank operated by Webster Bank, which merged with Sterling National Bank in 2022. It is headquartered in Stamford, Connecticut.

Bread Savings – 5.35% APY

  • Term (months): 12
  • Minimum deposit: $1,500
  • Early withdrawal penalty: 6 months of interest
  • About: Bread Savings is the online consumer deposits bank operated by credit card issuer Comenity Capital Bank.

TotalDirectBank – 5.35% APY

  • Term (months): 12
  • Minimum deposit: $25,000
  • Early withdrawal penalty: 3 months of interest
  • About: TotalDirectBank is an online-only operation of City National Bank of Florida, established in Miami in 1946.

Not available in Florida and California

Elements Financial – 5.35% APY

  • Term (months): 12
  • Minimum deposit: $1,000
  • Early withdrawal penalty: 
  • Overview: Elements Financial is a credit union anyone can join by signing up for a $5 membership in the nonprofit Tru Direction and holding at least $5 in a savings account. Founded in 1930, Elements is headquartered in Indianapolis.

Why You Can Trust Our Recommendations for the Best 1-Year CD Rates

Investopedia collects thousands of CD rates from hundreds of banks and credit unions every weekday. When ranking CD rates, we look at factors that will help readers choose the best CD, like term, early withdrawal penalty, and minimum opening deposit. We also research banks and credit unions to provide unbiased, comprehensive reviews to ensure our readers make the right decisions for their needs. Investopedia launched in 1999 and has been helping readers find the best CD rates since 2019.

The CDs we recommend must be available nationwide and these certificates typically pay three to five times as much as the national average—or even more. To be eligible for our 1-year D rankings, each CD’s minimum opening deposit requirement cannot exceed $25,000 and must be offered by an FDIC-insured bank or NCUA-insured credit union (which covers up to $250,000 per depositor). Terms of 10 to 14 months are included in our 1-year CD rankings.

What Is a 1-Year CD and How Does It Work?

Certificates of deposit (CD) with a 1-year term are special types of accounts with interest rates that are usually higher than other savings accounts. In exchange for the high rate, you must keep your funds locked up for about 10 to 14 months. This may be good for your short-term savings since you can access the money by next year. The reason banks and credit unions are willing to pay higher rates on 1-year CDs is because they can generally count on those funds staying in the account, unlike funds that can unpredictably come and go in a savings, money market, or checking account.

Banks and credit unions offer CDs in a variety of terms, from 1 month up to 10 years, so you can choose how long you’re willing to lock up your funds. The most common CD terms, however, range from 6 months to 5 years, with 1-year certificates being the most widely available of all.

The date your CD ends is called its maturity date, and although it’s not impossible to withdraw your funds before maturity, you’ll incur a financial penalty if you do so.

Fast Fact

When asked in January what they would invest in if they had an extra $10,000, 9% of Investopedia readers said they would open a CD, in fourth place behind individual stocks, ETFs, and stock index funds. That’s down from 11% in December.

Advisor Insight

“We got two 1-year CDs because the interest rates were better than what we were earning on our savings accounts. It was very simple to sign up and only took a few minutes at the bank. The timeframe for the CD was good; short-term worked for us in case we need the money. The rate was definitely better than our savings rate too, and we’ll most likely roll them over when the time comes,” said Helen Koby, a retired New Jersey resident who opened two 1-year CDs with her husband in 2023.

Pros and Cons of 1-Year CDs

Pros

  • Fixed interest rate for a full year: Once you open a CD, you lock in the rate you’ll receive for the full term, no matter what the Federal Reserve does or how other interest rates move. This is a big advantage if rates are predicted to fall, and it can help you stay on track toward your short-term savings goals.
  • Higher APY than liquid accounts: Banks and credit unions are willing to pay higher rates on CDs, where they know the money will stay put, than on savings, money market, and checking accounts, where you can withdraw funds more often.  
  • Fully predictable earnings and date of withdrawal: Since a CD’s rate and term are fixed, you know exactly when you’ll be able to withdraw the funds and exactly how much interest you’ll have earned by that date. 
  • Extremely safe, with almost no risk: When you open a CD at an FDIC-insured bank or NCUA-insured credit union, you are federally protected on up to $250,000 in deposits, even if the institution fails.
  • Potential deterrent to spending temptations: If you find it hard not to dip into your savings, the early withdrawal penalty on CDs can serve as a useful roadblock to unwanted spending.

Cons

  • Early withdrawal of the funds will incur a penalty: If you find you need the funds in your CD sooner than the maturity date, you’ll be hit with an early withdrawal penalty that will reduce your earnings.
  • You can’t add to your deposit: Once you decide on your initial deposit amount for a CD, that’s a final decision. You cannot make additional deposits or add money.
  • If rates rise, you may miss out on a higher rate: If rates go up while you own your CD, it means you may have been able to score a higher rate if you had locked in later.
  • If rates drop, you may wish you’d chosen a longer CD: Alternatively, if rates begin declining, you may regret not locking in your great rate for a much longer duration.

Tip

Be sure to carefully review the terms of your prospective CD before signing off on it and funding the account. But if you find you’ve changed your mind about the CD within the first few days of opening it, some banks offer a grace period enabling you to quickly exit penalty-free.

When Is the Best Time to Get a 1-Year CD?

The best time to get a 1-year CD is right before interest rates drop. There’s no easy way to know when that will happen, though, so you’ll have to decide when the time is right for you. For example, if the 1-year CD you’re planning to open has a rate of 5.50% APY right now, and you believe the Fed will lower the fed funds rate in the next month or two, then now might be the best time to get that CD. That’s because CD rates typically follow the fed funds rate, so if the Fed lowers rates, your choice of 1-year CD could also see its rate fall. Of course, the best time to get a CD will also depend on your situation—you may need to have a certain amount for the deposit, as well.

How to Find the Best 1-Year CD

  1. Shop around to learn where the highest 1-year CD rates are offered. You may find CD options at banks, credit unions, or even brokerage accounts.
  2. The best 1-year CD for you will be where you feel most comfortable stashing your cash and leaving it for 12 months. While 12 months can feel like a long time, it may help you reach your short-term savings goals faster.
  3. Look at the early withdrawal penalty. If you need the money sooner than the term’s end, you’ll likely pay this penalty (though there are some CDs with no penalties).
  4. Compare your options, review the terms, and then deposit the money to start earning interest.
Institution Rate (APY) Term Minimum Deposit Early Withdrawal Penalty
T Bank 5.50% 13 months $1,000 3 months of interest
Financial Resources Federal Credit Union 5.43% 13 months $500 6 months of interest
My eBanc 5.41% 12 months $5,000 3 months of interest
ConnectOne Bank 5.40% 11 months $500 6 months of interest
Apple Federal Credit Union 5.40% 12 months $500 All earned interest (6 months maximum)
CFG Bank 5.40% 12 months $500 6 months of interest
USAlliance Financial 5.40% 12 months $500 6 months of interest
Alliant Credit Union 5.40% 12 months $1,000 Number of days CD is open (3 months maximum)
Expedition Credit Union 5.40% 12 months $2,500 3 months of interest
NexBank 5.40% 12 months $25,000 6 months of interest
CIBC Agility 5.36% 13 months $1,000 1 month of interest
MTC Federal Credit Union 5.35% 11 months $5,000 1% of withdrawal (plus $25)
BrioDirect 5.35% 12 months $500 3 months of interest
Bread Savings 5.35% 12 months $1,500 6 months of interest
TotalDirectBank 5.35% 12 months $25,000 3 months of interest
Elements Financial 5.35% 13 months $1,000 6 months of interest

How To Open a CD

Opening a CD is generally no more difficult than opening a savings or checking account. Follow these steps—almost all of the certificates in our rankings of the top nationally available CD rates can be opened online within 10 or 15 minutes.

  1. Provide personal information and identify yourself via the application—online or in person.
  2. Specify how you’ll fund the new CD. The most common approach is with an electronic transfer from another financial institution. But options to send a check or wire money may be available, depending on the institution.
  3. Read the written terms of your CD agreement, which will stipulate the interest rate you’ll be paid, the date of the CD’s maturity, the frequency with which your interest will be paid and compounded, and the specific penalty calculation that will be used if you request to withdraw your funds before maturity.

Note

If you are funding the new certificate with a very large deposit, you’ll want to check with the institution on any external transfer limits that could be an obstacle. 

Once your CD is open and funded, it’s generally a “set it and forget it” product. You’ll receive monthly or quarterly statements showing your certificate’s growth, but hopefully, you can leave the funds untouched until the maturity date rolls around.

Although the bank or credit union will notify you in advance of the CD maturing, it’s wise to set a calendar reminder for yourself so you can be ready with a decision on what to do with the funds when the CD expires.

Alternatives to a 1-Year CD

A 1-year CD won’t be the best savings option in all cases, of course. Fortunately, there is no shortage of alternatives, depending on your situation:

1-Year CDs vs. Longer-Term CDs

If you can leave your funds untouched for longer than a year, it’s worth shopping the longer CD terms, such as 18-month, 2-year, or 3-year. You may be able to score a higher rate on one of those CDs. Or you may want to opt for a CD rate that’s not quite as high, but that will last further into the future. 

1-Year CDs vs. Shorter-Term CDs

If you want to move some of your money from regular savings into a CD, but you just don’t feel comfortable with the year-long commitment, 3-month and 6-month CD terms are available from most banks and credit unions that sell CDs.

1-Year CDs vs. Savings Accounts

If a 1-year CD isn’t right for you, a savings account may be an option. But don’t just open any savings account—a high-yield savings account that pays a competitive interest rate is best. While you may not be able to earn as much as the highest rate on a 1-year CD, you will still earn more than you would in a traditional savings account. Plus, the money is accessible whenever you need it (up to certain limits per month, so check with your institution).

1-Year CDs vs. Money Market Accounts

Another option is a money market account, which acts like a savings account, but allows check-writing privileges. Money market accounts also pay high interest rates compared to traditional savings accounts and allow more flexibility with withdrawals than a CD.

Note

Remember that the interest rates on liquid accounts, like savings and money market accounts, can change at any time.

1-Year CDs vs. Investing Accounts

Investing accounts can help you save and invest money in stocks, bonds, ETFs, index funds, and more. However, when you invest money like this, usually with a brokerage, it’s not as easy to withdraw it if you should need it. While CDs also come with early withdrawal penalties and taxes on the earnings, investing accounts work differently. If you sell investments you may be selling them for more or less than you bought them for. You may have to pay capital gains taxes, which vary depending on how long you invested the money. It may take a few days to get your money from the broker and into your bank account.

With a CD, you know exactly when you get the money back after the term ends. You may also be able to open a CD right at your current bank or credit union. You’ll also be taxed on the CD’s earnings, but it’s taxed as ordinary income, not as capital gains taxes.

Note

Some brokerage and robo-advisor accounts also offer cash management accounts that pay high interest rates and can house your uninvested cash, much like a savings account.

1-Year CDs vs. I Bonds

These U.S. government bonds are designed to protect your savings against inflation, hence the name I bonds. But while they sometimes pay rates much better than CDs, sometimes the rate is inferior. Also, you absolutely cannot withdraw your funds until one year passes, not even with a penalty. For example, I bonds issued between Nov. 1, 2023, and April 30, 2024, the interest rate is 5.27%.

1-Year CDs vs. U.S. Treasuries

These allow you to lend money to the U.S. government for a fixed amount of time. Considered one of the safest investments in the world, a T-Bill is a note with a duration of up to 1 year. 

1-Year CDs vs. Bond Funds

Though it is difficult to research individual bonds, such as corporate offerings, you can easily invest in a bond mutual fund or ETF, which is diversified across many different bond issues. You can also enter and exit the fund at any time.

1-Year CDs vs. Money Market Funds or Cash Reserve Accounts

If you have a brokerage account, you can also hold savings in the brokerage’s cash reserve account or their money market fund. Just be sure to research what rate you’ll earn because in many cases, it will be far less than what you can earn in an outside CD, savings account, or money market account.

Frequently Asked Questions

Who Has the Best 1-Year CD Rate?

The highest 1-year CD rate today is 5.50% APY from T Bank for 13 months.

What Is the Best Place to Open a CD?

The rates banks and credit unions choose to pay on CDs varies widely, with the top rates in the country typically sitting three to five times higher than the national average, and sometimes even more. So the CD shopper who does their homework stands to earn considerably more interest than if they limit themselves to a CD from their existing bank.

In fact, some of the biggest banks pay among the worst rates. In contrast, smaller brick-and-mortar banks, online-only banks, and credit unions tend to offer substantially higher returns. Shopping from our daily rankings of the best CD rates is an easy way to ensure you’re scoring a top nationwide rate.

If you’ve never held an account at a different institution than where you have your primary checking account, you may be concerned about bank safety. But that’s easy to lay to rest. Any bank that is FDIC-insured, or credit union that is NCUA-insured, carries the same coverage on $250,000 in deposits, per individual and per institution. So if you see that an institution is an FDIC or NCUA member, your protection is the same, whether the institution is big or small, physical or online-only.

You may also wonder about the inconvenience of having your funds at more than one bank. With CDs, however, this is essentially a non-factor, since you won’t be regularly interacting with your CD account. Even with a savings or money market account, internet transfers between institutions are easy these days. But you won’t be making transfers to or from your CD account until you cash out.

Are 1-Year CDs a Good Short-Term Investment?

A 1-year CD will be a good short-term investment for you if you can deposit money and leave it untouched for 10 to 14 months. If so, finding a 1-year CD with a high interest rate can offer returns of 5.00% or more. For example, if you deposit $5,000 in a 1-year CD (12 months) with a 5.50% interest rate, you’d earn $275 by the end of the term. If you need the money sooner than that, consider a 6-month CD.

Should You Consider Short-Term or Long-Term CDs?

Anyone looking to reach a savings or investment goal should consider both short-term and long-term CDs. Short-term CDs, like 3-, 6-, or 12-month CDs may help you stay on track toward your goal by locking up your money for a period of time and then earning you interest at the maturity date. This could help prevent you from spending that money since it’s locked up for a short time. Long-term CDs may also fit into your savings strategy if you want to lock in a high CD rate now before rates drop in the future. To make the most of short-term and long-term CDs, consider a CD ladder.

What If I Need to Withdraw My Money Early?

Early withdrawal penalties, or EWPs, differ greatly among banks and credit unions. For a one-year term, the most common EWP is three or six months’ worth of interest. What that means is, if you cash in your CD before its maturity date, the funds returned to you will be docked by the amount of interest the CD would have earned in three or six months.

But don’t assume all EWPs are similar, or even reasonable. You may find one that charges a whole year’s worth of interest, while another assesses a mild 30 days’ interest. Still others have more complicated or onerous policies that can even eat into your principal. That’s why due diligence is critical before funding any CD. You want to be sure you understand what you’re signing up for. And when two choices are relatively equal, choose the CD with the milder penalty.

Are CDs Safe?

CDs are safe because they are usually insured by the FDIC or NCUA when they are opened at a bank or credit union. If you open a CD at a brokerage, check to see what type of insurance the account has. As with other bank accounts, your money at a bank or credit union is insured for up to $250,000 (across all your accounts at that institution). Each time you open an account at a new bank or credit union, your money at that insitution is insured for up to $250,000 as well.

How Do 12-Month CD Rates Work?

A 12-month CD comes with a fixed interest rate that is an annual percentage yield. That means you’ll earn up to that amount on your deposit over 12 months—as long as you don’t withdraw it early. If you do, you may pay a penalty of three or more months’ worth of interest earned. CD rates usually increase and decrease when the fed funds rate does. When the Fed holds rates steady, banks and credit unions may do the same. If banks and credit unions think the Fed will lower the fed funds rate, they also may lower 12-month CD rates, along with rates on other terms.

Financial Institutions We Review

We researched and reviewed over 250 banks, credit unions, and financial institutions to find the best CD rates you see above on this list. While we write individual reviews for most, we do not always write reviews for those we would not recommend. Below are the banks, credit unions, and financial institutions we researched along with links to individual company reviews to help you learn more before making a decision:

1st Source Bank, 5star Bank, ableBanking, Abound Credit Union, Achieva Credit Union, Affinity Federal Credit Union, Affinity Plus Federal Credit Union, Air Force Federal Credit Union, Alabama Credit Union, Allegacy Federal Credit Union, Alliant Credit Union, Ally Bank, Amerant Bank, American 1 Credit Union, American Express, American Heritage Credit Union, Andrews Federal Credit Union, Apple Federal Credit Union, Banco do Brasil Americas, Banesco USA, Bank of Baroda, Bank5 Connect, Bank7, Texas Capital Bank, bankESB (Easthampton Savings Bank), BankUnitedDirect, Barclays, BBVA Bank, Bellco Credit Union, Blue Federal Credit Union, BMO, BMO Alto, BrioDirect, Cadets Federal Credit Union, California Coast Credit Union, Capital One, Capitol Federal Savings Bank, CD Bank, CFG Bank, Chase Bank, Chevron Federal Credit Union, CIBC (Agility Banking), CIT Bank, Citibank, Citizens Access, Citizens Trust Bank, Colorado Federal Savings Bank, Bread Savings, Communitywide Federal Credit Union, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Corporate America Federal Credit Union (CAFCU), Credit Union of Denver, Credit Union of the Rockies, Digital, Federal Credit Union, Discover Bank, DollarSavingsDirect, Dover Federal Credit Union, Dow Credit Union, Evergreen Bank Group, RocklandTrust Bank, Elements Financial, EmigrantDirect.com, Liberty Federal Credit Union, Fidelity Investments, Financial Partners Credit Union, Financial Resources Federal Credit Union, First Financial Credit Union, First Financial Northwest Bank, First Internet Bank, First National Bank of America, First Technology Federal Credit Union, Fort Bragg Federal Credit Union, Garden Savings Federal Credit Union, Georgia Banking Company, Georgia’s Own Credit Union, GreenState Credit Union, Greenwood Credit Union, Grow Financial Federal Credit Union, GTE Financial, Gulf Coast Bank & Trust Company, Hanscom Federal Credit Union, Heritage Bank, Hiway Federal Credit Union, Home Loan Investment Bank, Home Savings Bank, Hope Credit Union, HSBC Direct, Hughes Federal Credit Union, Hyperion Bank, Ideal Credit Union, iGObanking, Interior Federal Credit Union, Justice Federal Credit Union, Kinecta Federal Credit Union, KS State Bank, La Capitol Federal Credit Union, Lafayette Federal Credit Union, Lake Michigan Credit Union, Langley Federal Credit Union, Latino Community Credit Union, Limelight Bank, Live Oak Bank, Luther Burbank Savings, MYSB Direct, MAC Federal Credit Union, Main Street Bank, MainStreet Bank, MapleMark Bank, Marcus by Goldman Sachs, Market USA Federal Credit Union, Matadors Community Credit Union, MECU Credit Union, Merrick Bank, Michigan State University Federal Credit Union, Mills42 Federal Credit Union, Mountain America Credit Union, MTC Federal Credit Union, MutualOne Bank, My Banking Direct, My eBanc, My Savings Direct, NASA Federal Credit Union, Nationwide by Axos Bank, Navy Federal Credit Union, nbkc, NexBank, North Country Savings Bank, Northern Bank Direct, Northfield Bank, Northpointe Bank, Nuvision Federal Credit Union, Oklahoma Central Credit Union, One American Bank, OneUnited Bank, Pacific National Bank, Paramount Bank, PARDA Federal Credit Union, Partner Colorado Credit Union, Patelco Credit Union, Pen Air Federal Credit Union, PenFed Credit Union, People’s Credit Union, First Service Credit Union, Pinnacle Federal Credit Union, Popular Direct, Premier America Credit Union, Presidential Bank, FSB, Prime Alliance Bank, PSECU (Pennsylvania State Employees Credit Union), Quontic Bank, Quorum Federal Credit Union, Rising Bank, Merrimack Valley Credit Union, Salal Credit Union, Sallie Mae Bank, Santa Clara County Federal Credit Union, Signature Federal Credit Union, Spectrum Credit Union, SRP Federal Credit Union, State Bank of India Chicago, State Bank of India New York, State Bank of Texas, State Department Federal Credit Union, Summit Credit Union, Sun East Federal Credit Union, Superior Choice Credit Union, Synchrony Bank, TAB Bank, Teachers Federal Credit Union, Technology Credit Union, The Federal Savings Bank, Third Federal Savings & Loan, EverBank, TotalDirectBank, Transportation Federal Credit Union, TruStone Financial Credit Union, UNIFY Financial Credit Union, Expedition Credit Union, United States Senate Federal Credit Union, United Texas Bank, University Federal Credit Union, US Bank, USAlliance Financial, USPS Federal Credit Union, Velocity Credit Union, VeraBank, Vio Bank, Virtual Bank, WebBank, Webster Bank, Wells Fargo, Western Vista Credit Union, Wings Financial Credit Union, XCEL Federal Credit Union, BankPurely, Umbrella Bank, giantbank.com, CapEd Credit Union, Zeal Credit Union, Finworth, Coastal1 Credit Union, Service Credit Union, National Cooperative Bank, Premier Members Credit Union, Bank of America, Flagstar Bank, 1st MidAmerica Credit Union, INOVA Federal Credit Union, Genisys Credit Union, Ivy Bank, Heartland Credit Union, Luana Savings Bank, Spectra Credit Union, Workers Credit Union, Credit Human, EFCU Financial, Poppy Bank, Credit One Bank, Vibrant Credit Union, CFBank, Department of Commerce Federal Credit Union, Seattle Bank, Crescent Bank, Pima Federal Credit Union, Cross River Bank, USAA, Great River Federal Credit Union, Brilliant Bank, Merchants Bank of Indiana, LendingClub, Chartway Credit Union, First Central Savings Bank, AgFed Credit Union, North American Savings Bank, Pelican State Credit Union, First Community Credit Union, Bask Bank, Skyla Credit Union, SkyOne Federal Credit Union, 3Rivers Federal Credit Union, Utah First Credit Union, Pasadena Federal Credit Union, Magnifi Financial, AloStar, Primis Bank, Farmers Insurance Federal Credit Union, Tampa Bay Federal Credit Union, Veridian Credit Union, Republic Bank, Salem Five Direct, All In Credit Union, Bethpage Federal Credit Union, Self-Help Federal Credit Union, Forbright Bank, Jovia Financial Credit Union, Sun Canyon Bank, Fortera Credit Union, Partners 1st Federal Credit Union, SouthEast Bank, American Bank, Newtek Bank, CBC Federal Credit Union, Vanguard, All America Bank, Amalgamated Bank, Citizens State Bank, AmBoy Direct, Republic Bank of Chicago, Oklahoma Community Credit Union, BluPeak Credit Union, Valley Direct, Bayer Heritage Federal Credit Union, First Harvest Credit Union, Orion Federal Credit Union, Wellby Financial, FedChoice Federal Credit Union, CoVantage Credit Union, Choice First Bank, Sandia Area Federal Credit Union, OMB Bank, Minnequa Works Credit Union, Securityplus Federal Credit Union, Bank of South Texas

How We Find the Best 1-Year CD Rates

Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs to customers nationwide, and determines daily rankings of the top-paying certificates in every major term. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), and the CD’s minimum initial deposit must not exceed $25,000.

Banks must be available in at least 40 states. And while some credit unions require you to donate to a specific charity or association to become a member if you don’t meet other eligibility criteria (e.g., you don’t live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, read our full methodology.

Your Guide to CDs

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