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Best 2-year CD rates for December 2025

Written by
Matthew Goldberg
Edited by
Marc Wojno, MBA
Reviewed by
Robert R. Johnson
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Rates updated between Nov. 27 and Dec. 3

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A two-year certificate of deposit (CD) can be a useful financial tool for those looking to secure a higher interest rate on their savings without committing to locking up their money long term. It may also pay a higher rate of return than a high-yield savings account.

Current 2-year CD trends

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Bankrate Partner average
3.47% APY
National average
1.71% APY
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CD rates remain high, but are projected to move lower.
The Fed is predicted to continue cutting rates in 2025. Read more from Bankrate's experts in our CD rates forecast.
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Table of contents

Bankrate's picks for the top 2-year CD rates

Note: Annual percentage yields (APYs) shown were updated between Nov. 27 and Dec. 3. 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.

The Federal Savings Bank_logo

The Federal Savings Bank

Rating: 3.7 stars out of 5
3.7 Bankrate CD score

  • Annual percentage yield

    4.00%

  • Min. deposit to open

    $5,000

  • Term

    2 years

Why The Federal Savings Bank?

The Federal Savings Bank offers six CD terms ranging from one to five years, all with strong APYs. The APYs are valid only on new money deposited into the bank or on any CD renewals. But take note that the early withdrawal penalties are steeper than most competitors impose: You'll lose 365 days worth of interest on an early withdrawal from a two-year CD. And at maturity, you can receive your money from the bank via a check. The bank doesn't offer wires or automated clearinghouse (ACH) transfers for cashing out a CD.

Marcus by Goldman Sachs_logo

Marcus by Goldman Sachs

Rating: 4.5 stars out of 5
4.5 Bankrate CD score

  • Annual percentage yield

    3.95%

  • Min. deposit to open

    $500

  • Term

    2 years

Why Marcus by Goldman Sachs?

A minimum deposit of $500 is required to open any CD and earn the posted APY. In addition to its many regular CDs, Marcus also offers three no-penalty CD terms and a rate bump CD. If you withdraw your funds early from the two-year CD, you'll pay a withdrawal penalty equal to 180 days' worth of interest. Marcus by Goldman Sachs is the online-only banking arm of Goldman Sachs Bank USA.

M.Y. Safra Bank_logo

M.Y. Safra Bank

Rating: 4.4 stars out of 5
4.4 Bankrate CD score

  • Annual percentage yield

    3.85%

  • Min. deposit to open

    $500

  • Term

    2 years

Why M.Y. Safra Bank?

M.Y. Safra offers stellar rates on most of its online CDs, including its two-year CD, which you can find in the "Online Offers" section of its website. You’ll find a wide range of terms here if you’re looking to open a CD ladder: from three months to five years. However, if you withdraw your money after more than 90 days, you will lose all interest earned — one of the stiffest penalties out there. If that doesn't work for you, check out M.Y. Safra's great rate on a 13-month no-penalty CD.

TAB Bank_logo

TAB Bank

Rating: 4.1 stars out of 5
4.1 Bankrate CD score

  • Annual percentage yield

    3.82%

  • Min. deposit to open

    $1,000

  • Term

    2 years

Why TAB Bank?

Transportation Alliance Bank (TAB Bank) offers six terms of CDs and all earn competitive rates. Those CD terms range from one to five years. You’ll need at least $1,000 to open one of these CDs. In addition to these CDs, TAB Bank also offers an interest-bearing checking account and a high-yield savings account. The early withdrawal penalty on a two-year CD is a middle-of-the-road 180 days' worth of interest.

Colorado Federal Savings Bank_logo

Colorado Federal Savings Bank

Rating: 4.5 stars out of 5
4.5 Bankrate CD score

  • Annual percentage yield

    3.80%

  • Min. deposit to open

    $5,000

  • Term

    2 years

Why Colorado Federal Savings Bank?

Colorado Federal Savings Bank offers competitive rates across its seven CD terms, including the two-year CD. The early withdrawal penalty is six months' worth of interest, comparable to many in the industry. It also offers a no-penalty 11-month CD. However, with a $5,000 minimum deposit, this option may not be a good fit for a CD ladder.

Bread Savings_logo

Bread Savings

Rating: 3.9 stars out of 5
3.9 Bankrate CD score

  • Annual percentage yield

    3.75%

  • Min. deposit to open

    $1,500

  • Term

    2 years

Why Bread Savings?

Bread Savings is an online bank that offers high-yield savings products and nine terms of CDs ranging from three months to five years. All of the terms have decent to competitive APYs, and with a required deposit of just $1,500, this bank could be a great place to build a CD ladder. Its early withdrawal penalty could be worse — you'll pay 180 days' worth of simple interest.

Connexus Credit Union_logo

Connexus Credit Union

Rating: 3.4 stars out of 5
3.4 Bankrate CD score

  • Annual percentage yield

    3.75%

  • Min. deposit to open

    $5,000

  • Term

    2 years

Why Connexus Credit Union?

Connexus Credit Union offers five share certificates (the credit union term for certificates of deposit) in standard terms from one to five years. The yield on its two-year CD is strong, while yields on the other terms are middling to low. And the minimum deposit is a bit steep at $5,000. Still, unlike at many credit unions that restrict membership, anyone is welcome to join Connexus through a one-time $5 donation.

First National Bank of America_logo

First National Bank of America

Rating: 4.1 stars out of 5
4.1 Bankrate CD score

  • Annual percentage yield

    3.70%

  • Min. deposit to open

    $1,000

  • Term

    2 years

Why First National Bank of America?

First National Bank of America offers competitive CD rates on 14 terms ranging from three months to 10 years. Its minimum deposit amount is a relatively low $1,000. However, the early withdrawal penalty for a two-year CD is 360 days of interest, which is on the steeper side. Other banks offer less severe penalties.

Morgan Stanley Private Bank_logo

Morgan Stanley Private Bank

Rating: 4.1 stars out of 5
4.1 Bankrate CD score

  • Annual percentage yield

    3.65%

  • Min. deposit to open

    $0

  • Term

    2 years

Why Morgan Stanley Private Bank?

In addition to offering a competitive APY on its two-year CD, E*TRADE from Morgan Stanley offers strong yields on a wide range of CDs from six months to five years. Plus, there is no minimum deposit requirement to open the certificate, which makes these CDs accessible to most savers.

Bask Bank_logo

Bask Bank

Rating: 4 stars out of 5
4.0 Bankrate CD score

  • Annual percentage yield

    3.65%

  • Min. deposit to open

    $1,000

  • Term

    2 years

Why Bask Bank?

Bask Bank offers six CD terms ranging from three months to two years and many of the CDs offer competitive APYs. The bank also offers a savings account with one of the best APYs and another savings account that earns American Airlines miles. Bask Bank has been around since 2020 and is a division of Texas Capital Bank.

Texas Capital Bank_logo

Texas Capital Bank

Rating: 4.5 stars out of 5
4.5 Bankrate CD score

  • Annual percentage yield

    3.60%

  • Min. deposit to open

    $1,000

  • Term

    2 years

Why Texas Capital Bank?

Texas Capital Bank offers six CDs, ranging from 30 days to two years — you'll have to look elsewhere if you want a longer term. APYs across most terms are competitive. The minimum deposit is a reasonable $1,000. Its early withdrawal penalty is an industry-standard 180 days of interest on the principal amount withdrawn.

What is a 2-year CD?

A two-year certificate of deposit is an account that you lock your money away in for two years, promising to not withdraw it until the term is up in exchange for a fixed annual percentage yield (APY). That APY is also maybe going to be higher than what you’d find on a savings account, even the highest-yielding savings accounts.

At the end of the term, you can renew the CD or shop around for another one, potentially with a higher yield, if the interest rate environment has improved. After a CD’s maturity date, it likely will renew automatically after a grace period, typically within seven to 10 days. Most CDs charge an early withdrawal penalty if you need access to the funds before the maturity date.

The best two-year CD rates pay far more than the national average of 1.71 percent APY, according to Bankrate’s national index survey of banks and thrifts on December 04, 2025. Use Bankrate’s CD calculator to see how much interest you could earn with one of the top two-year CDs listed on this page.

McBride stresses the importance of being sure you can part with the principal for two full years before locking the funds into a two-year CD. “If not, yields on shorter maturities are actually higher than what you’d get on a two-year CD. If you need to cash in that two-year CD early, you could give back six months’ worth of interest, which sets you even further behind where you would’ve been had you gone with a shorter maturity.”

Coming into 2025, there was a high expectation of further Fed rate cuts. As it stands today, it is hard to know when or if the Fed will cut amidst the trade and inflationary uncertainty, which puts savers in a position of strength. The real return on savings products, or the difference between the yield and inflation, is as high as it's been in years. Those who haven't put their money to work still have an opportunity to lock-in high rates now.
Bankrate logo Stephen Kates, CFP, Financial Analyst | Bankrate

2-year CD FAQs

Meet the Bankrate Experts

Matthew Goldberg
Written by
Matthew Goldberg Matthew Goldberg Arrow Right Icon
Former Senior Consumer Banking Reporter
Read more from Matthew
Matthew Goldberg is an award-winning writer who has been in financial services for more than 14 years. He uses his banking experience to help inform readers as they make important personal finance decisions.
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Credentials
  • Property (Colorado)
  • Life (Colorado)
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Expertise
  • Consumer banking
  • Savings accounts and CDs
Marc Wojno, MBA
Edited by
Marc Wojno, MBA
Former Senior Editor, Banking
Robert R. Johnson
Reviewed by
Robert R. Johnson
Professor of finance, Creighton University

Research methodology

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 two-year CD rates, we regularly survey two-year CD offerings from the banks and credit unions that continually offer the most competitive rates.

The banks and credit unions on this page are selected based on their current APY for a two-year CD and their minimum deposit requirements. Only banks and credit unions with broadly available CDs made the list. Learn more about how we choose the best banking products and our methodology for reviewing banks.

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