Updated May 6, 2025
Some 10-year certificates of deposit (CDs) offer yields above current national averages for savings accounts and shorter-term CDs. They’re also virtually risk free and guarantee a set rate of return. A 10-year CD isn’t a good fit for every saver, however, given their considerable term length. Before committing to a long-term CD, compare your options and consider whether it’s the right move for you.
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.
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 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.
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Note: Annual percentage yields (APYs) shown are as of May 6. 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.
First National Bank of America’s 10-year CD earns a high rate. The bank also offers the same APY on terms between six and nine years. Each CD requires a minimum opening deposit of $1,000.
Few well-known banks offer 10-year CDs. One exception is Discover Bank, which offers CDs across all standard terms, all of which earn yields well above national averages. No minimum deposit amount is required to open this CD.
In addition to its 10-year CD, Vio Bank offers nine additional terms of CDs, with terms between four and ten years all earning the same APY. Each CD requires a minimum opening deposit of $500.
EmigrantDirect is the online division of Emigrant Bank. Its CD terms range from six months to 10 years, each requiring a $1,000 minimum deposit. You must have a savings account at EmigrantDirect in order to be eligible to open a CD.
MySavingsDirect, a division of Emigrant Bank, offers a wide range of CD terms, with terms between 60 and 120 months all earning the same APY. All CDs require a minimum opening deposit of $1,000. You must have a MySavingsDirect savings account to open a CD at this bank.
Because few banks and credit unions offer 10-year CDs, finding the best rates may be challenging. Compare offers with deposits backed by the federal government. Look closely at deals from online financial institutions.
Be sure to consider the opportunity cost. Don’t purchase a 10-year CD without evaluating other low-risk investment products such as online high-yield savings accounts. Alan Dole, a wealth manager with Legacy Advisor Group, says it pays to ask, “Where else could you put that money that would earn you more?”
Savers could buy a 10-year CD and close the account before it matures. Just make sure the benefit of an early exit outweighs the cost of the withdrawal penalty.
A CD ladder can help reduce risk by spreading your investment over several CDs with different due dates. This offers consistent access to money and enables reinvestment in CDs with better yields in the event that interest rates rise.Dré Villeroy, CEO, Beyorch
A 10-year CD should be considered if you want to earn a fixed yield and have money that you’re willing to sock away for a decade, untouched. The guaranteed rate and the safety of this account — as long as it’s within federal insurance guidelines — can be a good option in some situations. But 10 years is a long time, so review the early withdrawal penalties so that you know the worst-case scenario for breaking this CD.
The Federal Reserve has been in a holding pattern in 2025 when it comes to its benchmark federal funds rate. Officials have left the rate untouched during meetings in March and January, after having lowered the rate three times in late 2024. It remains to be seen what the Fed will do with rates in the remainder of this year, and how that could impact CD APYs. For now, at least, the leading rates on 10-year CDs are outpacing inflation.
Written by: Karen Bennett, Senior Consumer Banking Reporter
Karen is a senior consumer banking reporter with three decades of writing experience, including in the financial services industry. Topics she's covered include savings accounts, CDs, budgeting and emergency funds, as well as legislation and government regulation. In addition to Bankrate, her work has also appeared in USA Today, Illinois Legal Times and various newspapers in Chicago, Milwaukee and Washington, D.C. Karen is a member of the Society for Advancing Business Editing and Writing (SABEW) and has a master's degree in journalism from Columbia College Chicago.
Edited by: Yuliya Goldshteyn, Editor II, Banking
Yuliya has more than 15 years experience in editing, including four years in personal finance content, concentrating on the consumer banking sector. She specializes in the ins and outs of deposit accounts, including savings, certificates of deposits and checking accounts, as well as what consumers should weigh when deciding on where to bank. She holds a master's degree in social sciences from the University of Chicago and a bachelor's degree in history from the University of California, Berkeley.
Read more from Yuliya Goldshteyn
Reviewed by: Robert R. Johnson
Robert R. Johnson, Ph.D., CFA, CAIA is a Professor of Finance at Creighton University’s Heider College of Business. He is also Chairman and CEO of Economic Index Associates, LLC.
He has over 80 refereed articles in leading finance and investment journals. His publications have appeared in the Journal of Finance, Journal of Financial Economics, Journal of Portfolio Management, and the Financial Analysts Journal, among others. He has extensive media relations experience both in the United States and abroad. He has been quoted in The Wall Street Journal, Financial Times, Barron's, Forbes, Globe and Mail, and The South China Morning Post, among others.
Bankrate researches over 100 banks and credit unions, including some of the largest financial institutions, online-only banks, regional banks and credit unions with both open and restrictive membership policies.
To find the best ten-year CD rates, we regularly survey ten-year CD offerings from the banks and credit unions that offer this rare CD term. The banks and credit unions on this page are selected based on the APY for their ten-year CD and minimum deposit requirements. Learn more about how we choose the best banking products and our methodology for reviewing banks.
