The top 4-year CDs have something in common. They offer:

Finding the best 4-year CD rates will require some research. Comparing deals offered by online financial institutions is a good place to start.

The best 4-year CDs available from banks and credit unions pay more than 2.5 times the national average of 0.79 percent APY, according to Bankrate’s most recent national survey of banks and thrifts.

Today’s top nationally available 4-year CDs pay 2.16 percent APY. This may be a good place to invest for long-term financial obligations, like starting a business.

As you compare rates, pay attention to details. An account that doesn’t require you to fork over too much money upfront is ideal. Consider finding offers that don’t force you to jump through extra hoops — such as opening a new checking account — before you can purchase a CD.

Finding the best 4-year CD rates

Here are the top nationally available 4-year CD rates. Evaluate these offers, then calculate how much interest you would earn when your CD matures.

Best 4-year CD rates
Institution APY Minimum deposit
M.Y. Safra Bank 2.16% $5,000
Northern Bank Direct 2.15% $500
EverBank 2.12% $5,000
First Internet Bank of Indiana 2.07% $1,000
Barclays 2.05% $0

Top account details

  • M.Y. Safra Bank is headquartered in New York City. Initially established as T. Rowe Price Savings Bank, it changed its name in 2013 and moved from Baltimore, Maryland. The bank earned four out of five stars on Bankrate’s latest Safe & Sound Ratings, which measures the financial health of banks and credit unions throughout the United States.
  • Northern Bank Direct operates as the online division of Northern Bank. The FDIC-insured institution is headquartered in Woburn, Massachusetts. It earned five out of five stars from Safe & Sound.
  • EverBank, a division of TIAA, offers banking and investment products and other financial services. The bank is based in Jacksonville, Florida and earned three out of five stars from Safe & Sound.
  • Based in Fishers, Indiana, First Internet Bank of Indiana opened in February 1999. It was the first state-chartered, FDIC-insured financial institution to operate entirely online. The bank earned four out of five stars from Safe & Sound.
  • Barclays’ online banking division operates out of Wilmington, Delaware. Its parent company is based in London, England and serves customers worldwide. The bank earned four out of five stars from Safe & Sound.

Factor in flexibility

With the Federal Reserve gradually raising its benchmark interest rate, investing in a long-term CD may not seem like the best idea. You risk losing out on better deals as banks and credit unions slowly increase their rates.

A typical CD comes with an early withdrawal penalty of six months’ interest. Looking for a deal that isn’t too expensive to exit may be worth it, especially if you may ditch your 4-year CD before it matures. Another option is to look for institutions giving savers a one-time rate increase over the course of their terms.

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