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Best 1-month CD rates for March 2024

Best available rates across different account types for Tuesday, March 19, 2024

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Current savings trends
Bankrate Partner average
4.79% APY
National average
0.57% APY

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Bankrate’s picks for the top 1-month CD rates

Note: Annual percentage yields (APYs) shown are as of Feb. 19, 2024. Bankrate's editorial team validates this information regularly, typically biweekly. APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes only FDIC banks or NCUA credit unions in its listings.

SchoolsFirst Federal Credit Union: 3.00% APY; $20,000 minimum deposit to earn APY

SchoolsFirst serves the education community in California. Certain school employees, certain retired school employees and immediate family members of SchoolsFirst Federal Credit Union members are eligible to join.

SchoolsFirst offers CDs ranging from 30 days to five years. To open a CD, a $500 minimum deposit is required. If you put in more money you may be rewarded with a higher APY, as SchoolsFirst has four rate tiers: $500, $20,000, $50,000 and $100,000.

Zions Bank: 0.30% APY; $1,000 minimum deposit

Zions Bank has 121 full-service branches in Utah, Idaho and Wyoming. The bank offers 10 terms of CDs ranging from one month to five years. CDs are only available for those in Utah or Idaho.

Zions Bank also offers checking, savings and money market accounts, personal loans, mortgages and credit cards. It features mobile and online banking.

BrioDirect: 0.05% APY; $500 minimum deposit

BrioDirect is the online division of Webster Bank. Its CDs, savings account and money market account earn competitive yields.

BrioDirect offers 11 terms of CDs, ranging from one month to five years. A $500 deposit is required to open a CD. BrioDirect’s offers its highest APY on a promotional one-year CD.

U.S. Bank: 0.05% APY; $500 minimum deposit

U.S. Bank is one of the 10 largest commercial banks in the U.S.

It offers 11 terms of CDs, ranging from one month to five years. U.S. Bank also offers a Step Up CD and a Trade Up CD. To open any of the standard CDs, a minimum deposit of $500 is required, but you can’t deposit more than $250,000.

Huntington National Bank: 0.05% APY; $1,000 minimum deposit

Huntington National Bank maintains more than 1,200 branches, which are located mostly in the Midwest and South. The bank offers CD terms ranging from one month to six years. The minimum amount required to open a CD is $1,000.

KeyBank: 0.05% APY; $2,500 minimum deposit

KeyBank has a network of over 1,000 branches and more than 40,00 ATMs. KeyBank has CDs with terms ranging from seven days to 10 years. KeyBank CDs are available to consumers and businesses in 15 states.

When should you get a 1-month CD?

If you’re looking for a safe place to temporarily park your savings, and earn a bit of interest in the process, a one-month CD offered at a federally-insured bank might be worth opening.

But if you’re looking for a higher interest rate for your short-term savings, consider opening a high-yield savings account at an FDIC-insured online-only bank, where you can find accounts that offer the most competitive interest rates.

Pros and cons of a 1-month CD

Pros of a 1-month CD

  • Checkmark

    Your money isn’t locked away for long.

  • Checkmark

    It gives you the flexibility to either keep your money in the CD for another term when it matures or withdraw it when the term ends.

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    Generally, a term CD will give you a fixed APY during the CD’s term.

Cons of a 1-month CD

  • Unlike a savings account, a one-month CD may incur an early withdrawal penalty if you take money out before the term ends.

  • A savings account or a no-penalty CD may earn a higher APY than a one-month CD.

  • The APYs might not be competitive compared with other, longer-term CDs.

1-month CD FAQs

Research methodology

At Bankrate, we strive to help you make smarter financial decisions. We follow strict guidelines to ensure that our editorial content is unbiased and not influenced by advertisers. Our editorial team receives no direct compensation from advertisers and our content is thoroughly fact-checked to ensure accuracy.

Bankrate regularly surveys around 70 widely available financial institutions, made up of the biggest banks and credit unions, as well as a number of popular online banks.

To find the best CDs, our editorial team analyzes various factors, such as: annual percentage yield (APY), the minimum needed to earn that APY (or to open the CD) and whether or not it is broadly available. All of the accounts on this page are insured by the Federal Deposit Insurance Corp. or the National Credit Union Share Insurance Fund.

When selecting the best CD for you, consider the purpose of the money and when you’ll need access to these funds to help you avoid early withdrawal penalties.