Best 1-month CD rates - March 2023
Best available rates across different account types for Monday, March 27, 2023
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What To Know First
A one-month certificate of deposit matures in the span of just four quick weeks. Interest rates on these CDs typically are low, mostly because banks want account holders to lock up their money for longer periods. But you may prefer a one-month CD if you need to protect some cash for the short term and think you’d be tempted to spend it.
Many savings accounts and money market accounts, however, offer higher annual percentage yields (APYs) than one-month CDs. But savings deposit accounts usually have variable APYs while term CDs generally have fixed APYs for the term.
Though one-month CD rates are typically low, you may be able to find accounts offering competitive yields. Here are the best one-month CDs, providing the highest possible fixed return for this term.
Bankrate’s picks for the top 1-month CD rates
- SchoolsFirst Federal Credit Union: 0.85% APY; $20,000 minimum deposit to earn APY
- Zions Bank: 0.30% APY; $1,000 minimum deposit
- BrioDirect: 0.05% APY; $500 minimum deposit
- U.S. Bank: 0.05% APY; $500 minimum deposit
- Huntington National Bank: 0.05% APY; $1,000 minimum deposit
- KeyBank: 0.05% APY; $2,500 minimum deposit
- Union Bank: 0.05% APY; $2,500 minimum deposit
Note: Annual percentage yields (APYs) shown are as of Feb. 27, 2023. Bankrate’s editorial team updates this information regularly, typically biweekly. APYs may have changed since the last update and may vary by region for some products.
The following accounts can be found at most banks and credit unions. They’re federally insured for up to $250,000 and offer a safe place to put your money while earning interest.
Certificate of Deposit (CD)
CDs are best for individuals looking for a guaranteed rate of return that’s typically higher than a savings account. In exchange for a higher rate, funds are tied up for a set period of time and early withdrawal penalties may apply.
Checking accounts are best for individuals who want to keep their money safe while still having easy, day-to-day access to their funds. ATM and other transactional fees may apply.
Savings / Money Market Accounts (MMA)
Savings and MMAs are good options for individuals looking to save for shorter-term goals. They’re a safe way to separate your savings from everyday cash, but may require larger minimum balances and have transfer limitations.