Best 10-year CD rates - October 2023
Best available rates across different account types for Wednesday, October 04, 2023
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What To Know First
Compared to savings accounts and short-term time deposits, 10-year certificates of deposit may offer more competitive interest rates.
They’re also virtually risk-free and guarantee a specific rate of return. But given the long return horizon, a 10-year CD isn’t a good fit for every saver. Before buying one, consider whether locking up your savings in a long-term CD is a smart move for you.
Bankrate’s top picks for the top 10-year CD rates
- Discover Bank: 3.80% APY; $2,500 minimum deposit to open
- Vio Bank: 2.75% APY; $500 minimum deposit to open
- EmigrantDirect: 2.75% APY; $1,000 minimum deposit to open
- MySavingsDirect: 2.00% APY; $1,000 minimum deposit to open
Note: Annual percentage yields (APYs) shown are as of Oct. 2, 2023. Bankrate’s editorial team updates this information regularly. APYs may have changed since they were last updated and may vary by region for some products.
Today’s top, widely available 10-year CD pays 3.8 percent APY, which, given the length of term, isn’t a competitive rate. You may be better off investing in a shorter-term CD that pays a higher yield. For example, you can currently lock in up to 4.65 percent APY on a five-year CD.