May 10, 2016 in CDs

2016 rising-rate CD survey: Liquid CDs

Rates on certificates of deposit are among the lowest they’ve been since Bankrate began tracking rates in 1984. As a consequence, CD deposits have fallen precipitously in the past 5 years. A rising-rate CD gives the accountholder the option of withdrawing some of the money without penalty, or provides a mechanism for raising the interest rate.

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There are various types of rising-rate CDs, and the better deals tend to be on deposits with longer maturities. Most depositors can get a higher overall return, while meeting their liquidity needs, by keeping part of their savings in a high-yielding savings account and part of it in a high-yielding traditional CD

Liquid/no-penalty CDs
Institution name Market Maturity APY Conditions
Institution name: America First FCU Market: Top 50 CU Maturity: 12-month APY: 0.8% Conditions: Flexible CD – $500 minimum; withdrawal or deposit up to $10,000 during the first 5 days of each quarterly month (Jan., April, July, Oct.) without penalty.
Institution name: American Airlines FCU Market: Top 50 CU Maturity: 60-month APY: 2.02% Conditions: Dream Plan Share Certificate – $25 minimum. Minimum $25 monthly recurring automatic deposit required in order to keep account open. Recurring deposit must continue until maturity date. No penalty for early withdrawal if funds are used as a down payment for a home financed with AACU. Maximum balance of $50,000.
Institution name: Astoria Bank Market: New York Metro Maturity: 3-month APY: 0.05% Conditions: Liquid CD – $5,000 minimum. You may make withdrawals ($500 minimum) without penalty if you maintain a balance of at least $5,000 and have not made a deposit or withdrawal within the past 7 days. Otherwise, early withdrawal penalties apply.
Institution name: Bank of America Market: New York Metro Maturity: 9-month APY: 0.04% Conditions: Risk Free CD – $5,000 minimum. The early withdrawal penalty is waived any time 6 days after account opening. Must wait 6 days between withdrawals to avoid early withdrawal penalty.
Institution name: Bank of America Market: Los Angeles Maturity: 9-month APY: 0.04% Conditions: Risk Free CD – $5,000 minimum. The early withdrawal penalty is waived any time 6 days after account opening. Must wait 6 days between withdrawals to avoid early withdrawal penalty.
Institution name: Bank of America Market: San Francisco Maturity: 9-month APY: 0.04% Conditions: Risk Free CD – $5,000 minimum. The early withdrawal penalty is waived any time 6 days after account opening. Must wait 6 days between withdrawals to avoid early withdrawal penalty.
Institution name: Bank of America Market: Philadelphia Maturity: 9-month APY: 0.04% Conditions: Risk Free CD – $5,000 minimum. The early withdrawal penalty is waived any time 6 days after account opening. Must wait 6 days between withdrawals to avoid early withdrawal penalty.
Institution name: Bank of America Market: Detroit Maturity: 9-month APY: 0.01% Conditions: Risk Free CD – $5,000 minimum. The early withdrawal penalty is waived any time 6 days after account opening. Must wait 6 days between withdrawals to avoid early withdrawal penalty.
Institution name: Bank of America Market: Boston Maturity: 9-month APY: 0.04% Conditions: Risk Free CD – $5,000 minimum. The early withdrawal penalty is waived any time 6 days after account opening. Must wait 6 days between withdrawals to avoid early withdrawal penalty.
Institution name: Bank of America Market: Houston Maturity: 9-month APY: 0.04% Conditions: Risk Free CD – $5,000 minimum. The early withdrawal penalty is waived any time 6 days after account opening. Must wait 6 days between withdrawals to avoid early withdrawal penalty.
Institution name: Bank of America Market: Dallas Maturity: 9-month APY: 0.04% Conditions: Risk Free CD – $5,000 minimum. The early withdrawal penalty is waived any time 6 days after account opening. Must wait 6 days between withdrawals to avoid early withdrawal penalty.
Institution name: Bank of America Market: DC Metro Maturity: 9-month APY: 0.04% Conditions: Risk Free CD – $5,000 minimum. The early withdrawal penalty is waived any time 6 days after account opening. Must wait 6 days between withdrawals to avoid early withdrawal penalty.
Institution name: Bank of America, NA Market: Chicago Maturity: 9-month APY: 0.04% Conditions: Risk Free CD – $5,000 minimum. The early withdrawal penalty is waived any time 6 days after account opening. Must wait 6 days between withdrawals to avoid early withdrawal penalty.
Institution name: BB&T Market: DC Metro Maturity: 36-month APY: 0.4% Conditions: Home Saver CD – $100 minimum. Withdraw the entire principal amount at any time after the first 7 days without penalty if the funds are used to buy a new home. Requirements: automatic deposit of $50 or more per month from a BB&T checking or savings account.
Institution name: BB&T Market: DC Metro Maturity: 30-month APY: 0.3% Conditions: Can’t Lose CD – $1,000 to open – After the first 12 months you can make 1 penalty-free withdrawal and 1 additional deposit up to $10,000.
Institution name: BB&T Market: DC Metro Maturity: 6-month APY: 0.05% Conditions: Treasury CD – $5,000 minimum; 1 penalty-free withdrawal each month; additional $100 deposits allowed at any time.
Institution name: BB&T Market: DC Metro Maturity: 48-month APY: 0.6%* Conditions: Stepped Rate CD – $1,000 to open; An additional deposit up to $10,000 is allowed once a year, every 12 months from the date of the initial deposit; 1 no-penalty withdrawal of all or part of the principal funds may be made after 24 months from the date; Rates: 1st year: 0.45%, 2nd year: 0.55%, 3rd year: 0.6%, 4th year: 0.8%.
Institution name: Citizens Bank of Pennsylvania Market: Philadelphia Maturity: 12-month APY: 0.05% Conditions: Breakable CD – $10,000 minimum. One-time full or partial withdrawal without penalty of funds during the term. APY 0.2% for Circle Gold customers (Circle Gold Checking and Circle Gold MMA).
Institution name: Citizens Bank of Pennsylvania Market: Philadelphia Maturity: 3-, 6-, 9-, 15-, 24-, 36- and 60-month APY: 0.01% Conditions: Breakable CD – $10,000 minimum. One-time full or partial withdrawal without penalty of funds during the term. APY .05% for Circle Gold customers (Circle Gold Checking and Circle Gold MMA).
Institution name: Citizens Bank, N.A. Market: Boston Maturity: 12-month APY: 0.05% Conditions: Breakable CD – $10,000 minimum. One-time full or partial withdrawal without penalty of funds during the term. APY .20% for Circle Gold customers (Circle Gold Checking and Circle Gold MMA).
Institution name: Citizens Bank, N.A. Market: Boston Maturity: 3-, 6-, 9-, 15-, 24-, 36- and 60-month APY: 0.01% Conditions: Breakable CD – $10,000 minimum. One-time full or partial withdrawal without penalty of funds during the term. APY .05% for Circle Gold customers (Circle Gold Checking and Circle Gold MMA).
Institution name: City National Bank Market: Los Angeles Maturity: 5-month APY: 0.05% Conditions: Liquid CD – $10,000 to open; 1 penalty-free withdrawal allowed 7 days after opening; unlimited additional deposit, but each deposit cannot exceed original deposited amount and must remain in account for at least 15 days. Cannot make additional deposit 15 days prior to maturity.
Institution name: Comerica Bank Market: Detroit Maturity: 12-month APY: 0.05% Conditions: Flexible Rate – $1,000 minimum to open and balance requirement. Interest can be automatically transferred into your Comerica Checking, Savings or MMA, or paid directly by check ($5,000 balance required). Additional deposits of $100 minimum may be made at any time. One-time withdrawal of up to 50% of the balance may be made into linked savings, checking or MMA without a penalty, any time after 7 days of the account opening. Tiered APY: $1-$9,999 = .05%; $10,000-$99,999 = .07%; $100,000+ = 0.1%.
Institution name: Community Savings Bank Market: Chicago Maturity: 5-year APY: 1.45%* Conditions: Five-in-One CD (NOW Checking or Savings account required) – $2,500 to open; 7-day grace period at each annual maturity to close CD or withdraw, but $2,500 is required to maintain CD; no additional deposits allowed after opening.
Institution name: Ent FCU Market: Top 50 CU Maturity: 24-29 month APY: 1.11% Conditions: Priority Certificates – $5,000 minimum; 1 rate increase per term; 1 additional deposit of $1,000 or more during the first year of the term; 1 penalty-free withdrawal of up to 50% of your certificate balance.
Institution name: Ent FCU Market: Top 50 CU Maturity: 30-35 month APY: 1.25% Conditions: Priority Certificates – $5,000 minimum; 1 rate increase per term; 1 additional deposit of $1,000 or more during the first year of the term; 1 penalty-free withdrawal of up to 50% of your certificate balance.
Institution name: Ent FCU Market: Top 50 CU Maturity: 36-month APY: 1.4% Conditions: Priority Certificates – $5,000 minimum; 1 rate increase per term; 1 additional deposit of $1,000 or more during the first year of the term; 1 penalty-free withdrawal of up to 50% of your certificate balance.
Institution name: First Republic Bank Market: San Francisco Maturity: 15-month APY: 0.15% Conditions: Liquid CD – $10,000 minimum; penalty-free withdrawals every 7 days.
Institution name: HomeStreet Bank Market: Los Angeles Maturity: 24-month APY: 0.35% Conditions: Home Purchase CD – $100 minimum; Can be closed early if the funds will be used directly for the down payment and closing costs of a home purchase; deposits of $25 or more allowed at any time.
Institution name: Kinecta FCU Market: Top 50 CU Maturity: 12-month APY: 0.3% Conditions: Access Plus Share CD – $1,000 minimum; penalty-free withdrawals of up to 50% of the start-of-day balance as of 12 a.m. on a daily basis. Withdrawals exceeding 50% of the start-of-day balance are subject to penalties. Unlimited deposits are accepted during the certificate term.
Institution name: Logix FCU Market: Top 50 CU Maturity: 12-month APY: 0.2% Conditions: Flex Rate CD – $5,000 minimum; 1 penalty-free withdrawal of up to 25% of the then-current blance at any time; 1 additional deposit at any time during the first 11 months.
Institution name: Malaga Bank FSB Market: Los Angeles Maturity: 5-month APY: 0.15% Conditions: Liquid CD – $5,000 minimum; 2 penalty-free withdrawals up to $50,000 of balance during each term; unlimited deposits allowed.
Institution name: Malaga Bank FSB Market: Los Angeles Maturity: 3-month APY: 0.05% Conditions: Liquid CD – $5,000 minimum; 1 penalty-free withdrawal up to 50% of balance during each term; unlimited deposits allowed.
Institution name: OnPoint Community CU Market: Top 50 CU Maturity: 60-month APY: 0.85% Conditions: Annual Withdrawal CD – $5,000 to open; up to 20% of initial deposit can be withdrawn each year without penalty.
Institution name: PNC Bank Market: Philadelphia Maturity: 3-month APY: 0.05% Conditions: Ready Access CD – $1,000 to open; no early withdrawal penalties after the first 7 days; partial withdrawals are not permitted.
Institution name: PNC Bank Market: Philadelphia Maturity: 12-month APY: 0.15% Conditions: Ready Access CD – $1,000 to open; no early withdrawal penalties after the first 7 days; partial withdrawals are not permitted.
Institution name: PNC Bank Market: Detroit Maturity: 3-month APY: 0.05% Conditions: Ready Access CD – $1,000 to open; no early withdrawal penalties after the first 7 days; partial withdrawals are not permitted.
Institution name: PNC Bank Market: Detroit Maturity: 12-month APY: 0.15% Conditions: Ready Access CD – $1,000 to open; no early withdrawal penalties after the first 7 days; partial withdrawals are not permitted.
Institution name: PNC Bank Market: DC Metro Maturity: 3-month APY: 0.05% Conditions: Ready Access CD – $1,000 to open; no early withdrawal penalties after the first 7 days; partial withdrawals are not permitted.
Institution name: PNC Bank Market: DC Metro Maturity: 12-month APY: 0.15% Conditions: Ready Access CD – $1,000 to open; no early withdrawal penalties after the first 7 days; partial withdrawals are not permitted.
Institution name: Queens County Savings Bank, a div of NYCB Market: New York Metro Maturity: 7-month APY: 0.7% Conditions: Liquid CD – $2,500 minimum; allowed to withdraw every 7 days without penalty; must maintain $2,500.
Institution name: Salem Five Market: Boston Maturity: 9-month APY: 0.2% Conditions: No Penalty CD – $10,000 minimum to open; entire balance must be cashed out; no partial withdrawals.
Institution name: San Antonio FCU Market: Top 50 CU Maturity: 12-month APY: 0.8% Conditions: Liquid Share CD – $5,000 to open; 2 no-penalty withdrawals permitted with a $5,000 minimum balance; unlimited deposits permitted; interest tiered: $1,000-$9,999.99: 0.8% APY, $10,000+: 0.9% APY.
Institution name: Security Service FCU Market: Top 50 CU Maturity: 12-month APY: 0.4% Conditions: Future Builder – $250 minimum. You may make additional deposits of any amount at any time after opening. Unlimited withdrawals of any amount up to 50% of the certificate balance per day. Penalty applies if withdrawal exceeds 50% of balance, provided the $250 minimum is maintained. APY for $25,000-$49,999 = 0.45%. APY for $50,000-$99,999 = 0.5%. APY for $100,000 + = 0.55%.
Institution name: TD Bank, N.A. Market: Philadelphia Maturity: 6-month APY: 0.15% Conditions: TD Bank No Catch CD – $250 to open; 1 penalty-free withdrawal per term; must maintain $250 balance.
Institution name: TD Bank, N.A. Market: Philadelphia Maturity: 12-month APY: 0.2% Conditions: TD Bank No Catch CD – $250 to open; 1 penalty-free withdrawal per term; must maintain $250 balance.
Institution name: TD Bank, N.A. Market: Boston Maturity: 6-month APY: 0.15% Conditions: TD Bank No Catch CD – $250 to open; 1 penalty-free withdrawal per term; must maintain $250 balance.
Institution name: TD Bank, N.A. Market: Boston Maturity: 12-month APY: 0.2% Conditions: TD Bank No Catch CD – $250 to open; 1 penalty free withdrawal per term; must maintain $250 balance.
Institution name: The Huntington National Bank Market: Detroit Maturity: 24-month APY: 0.13%* Conditions: Stepped CD – $1,000 minimum, $99,999.99 maximum; penalty-free withdrawal after 12 months (must withdraw entire balance); interest rate increases every 6 months: 1st 6: 0.05% APY, 2nd 6: 0.1% APY, 3rd 6: 0.15% APY, 4th 6: 0.2% APY.
Institution name: United Nations FCU Market: Top 50 CU Maturity: 3- to 18-month APY: 0.25% – 0.8% Conditions: CD terms 18 months or less; penalty-free withdrawals if funds are used toward a UNFCU U.S. or Kenya first mortgage or a UNFCU investment product.
Institution name: Wells Fargo Market: Los Angeles Maturity: 24-month APY: 0.16%* Conditions: Step Rate CD – $2,500 minimum. Can make withdrawal for 5 business days at each annual rate adjustment as long as $2,500 balance is maintained.
Institution name: Wells Fargo Market: San Francisco Maturity: 24-month APY: 0.16%* Conditions: Step Rate CD – $2,500 minimum. Can make withdrawal for 5 business days at each annual rate adjustment as long as $2,500 balance is maintained.
Institution name: Wells Fargo Market: Philadelphia Maturity: 24-month APY: 0.16%* Conditions: Step Rate CD – $2,500 minimum. Can make withdrawal for 5 business days at each annual rate adjustment as long as $2,500 balance is maintained.
Institution name: Wells Fargo Market: Houston Maturity: 24-month APY: 0.16 %* Conditions: Step Rate CD – $2,500 minimum. Can make withdrawal for 5 business days at each annual rate adjustment as long as $2,500 balance is maintained.
Institution name: Wells Fargo Market: Dallas Maturity: 24-month APY: 0.16%* Conditions: Step Rate CD – $2,500 minimum. Can make withdrawal for 5 business days at each annual rate adjustment as long as $2,500 balance is maintained.
Institution name: Wells Fargo Market: DC Metro Maturity: 24-month APY: 0.16%* Conditions: Step Rate CD – $2,500 minimum. Can make withdrawal for 5 business days at each annual rate adjustment as long as $2,500 balance is maintained.

* = Blended APY%

A total of 150 institutions — the 10 largest banks and largest thrifts in each of 10 U.S. markets, plus the nation’s 50 largest credit unions — were surveyed March 8-16, 2016, for their offerings on liquid CDs, bump-up CDs, step-up CDs and callable CDs. Some of the offers appear in more than 1 category if they contain features of more than 1 type of product.

Included in Bankrate’s CD survey results is a listing of the banks, their locations and their CDs’ maturities, initial annual percentage yield and yield to maturity. You also can find the best CD rates at Bankrate.com.