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
| 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.
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