Best 2-year CD rates for May 2026

Written by

Karen Bennett

Edited by

Yuliya Goldshteyn

Reviewed by

Mark Hamrick

Expert verified

Rates updated between May 10 and May 16

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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.

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See how we pick our picks: Read our best 2-year CD rates research methodology

Table of contents

Bankrate's picks for the top 2-year CD rates
How the Fed affects 2-year CD rates
How to find the best 2-year CDs
Alternatives to CDs
2-year CD FAQs
Research methodology

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

Read review

BTG Pactual Bank

4.1 Bankrate CD score

Annual percentage yield

4.16%
Min. deposit to open

$500
Term

2 years

Why BTG Pactual Bank?

BTG Pactual (which acquired M.Y. Safra Bank) offers stellar rates on its online CDs, including its two-year CD. You’ll find a wide range of terms here — from three months to five years — if you’re looking to open a CD ladder. In addition to its standard CDs, BTG Pactual also offers a 13-month no-penalty CD.

Term	APY	Min. deposit
3 months	3.35% APY	$500
6 months	3.85% APY	$500
9 months	4.00% APY	$500
1 year	4.00% APY	$500
18 months	4.09% APY	$500
2 years	4.16% APY	$500
3 years	4.13% APY	$500
4 years	4.13% APY	$500
5 years	4.15% APY	$500

Read review

Bread Savings

4.1 Bankrate CD score

Annual percentage yield

3.85%
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, too — you'll pay 180 days' worth of simple interest.

Term	APY	Min. deposit
3 months	3.35% APY	$500
6 months	3.85% APY	$500
9 months	4.00% APY	$500
1 year	4.00% APY	$500
18 months	4.09% APY	$500
2 years	4.16% APY	$500
3 years	4.13% APY	$500
4 years	4.13% APY	$500
5 years	4.15% APY	$500

Term	APY	Min. deposit
3 months	3.80% APY	$1,500
6 months	4.00% APY	$1,500
9 months	4.15% APY	$1,500
1 year	3.85% APY	$1,500
18 months	3.85% APY	$1,500
2 years	3.85% APY	$1,500
3 years	3.85% APY	$1,500
4 years	3.85% APY	$1,500
5 years	3.85% APY	$1,500

Read review

Sallie Mae

4.2 Bankrate CD score

Annual percentage yield

3.85%
Min. deposit to open

$2,500
Term

2 years

Why Sallie Mae?

Most of Sallie Mae Bank’s 11 terms of CDs earn competitive yields, including its two-year option. The minimum deposit of $2,500 is a little on the higher side, compared with some other banks on this list. The two-year term carries an early withdrawal penalty of 180 days’ worth of simple interest, which is in line with what some other banks charge.

Term	APY	Min. deposit
3 months	3.35% APY	$500
6 months	3.85% APY	$500
9 months	4.00% APY	$500
1 year	4.00% APY	$500
18 months	4.09% APY	$500
2 years	4.16% APY	$500
3 years	4.13% APY	$500
4 years	4.13% APY	$500
5 years	4.15% APY	$500

Term	APY	Min. deposit
6 months	3.20% APY	$2,500
9 months	3.20% APY	$2,500
11 months	3.70% APY	$2,500
1 year	3.80% APY	$2,500
13 months	4.00% APY	$2,500
15 months	3.80% APY	$2,500
18 months	4.00% APY	$2,500
2 years	3.85% APY	$2,500
30 months	3.90% APY	$2,500
3 years	3.95% APY	$2,500
5 years	4.00% APY	$2,500

Read review

Popular Direct

3.5 Bankrate CD score

Annual percentage yield

3.85%
Min. deposit to open

$10,000
Term

2 years

Why Popular Direct?

Popular Direct CDs are for established savers, since the CDs have a $10,000 minimum deposit requirement. But if you can afford the minimum deposit, you’ll be rewarded with a high rate for its two-year CD. In total, Popular Direct offers eight fixed term CDs, ranging from three months to five years.

Term	APY	Min. deposit
3 months	3.35% APY	$500
6 months	3.85% APY	$500
9 months	4.00% APY	$500
1 year	4.00% APY	$500
18 months	4.09% APY	$500
2 years	4.16% APY	$500
3 years	4.13% APY	$500
4 years	4.13% APY	$500
5 years	4.15% APY	$500

Term	APY	Min. deposit
3 months	3.90% APY	$10,000
6 months	4.10% APY	$10,000
1 year	4.05% APY	$10,000
18 months	3.90% APY	$10,000
2 years	3.85% APY	$10,000
3 years	3.85% APY	$10,000
4 years	3.30% APY	$10,000
5 years	3.30% APY	$10,000

Read review

TAB Bank

4.4 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. The early withdrawal penalty on a two-year CD is a middle-of-the-road 180 days' worth of interest.

Term	APY	Min. deposit
3 months	3.35% APY	$500
6 months	3.85% APY	$500
9 months	4.00% APY	$500
1 year	4.00% APY	$500
18 months	4.09% APY	$500
2 years	4.16% APY	$500
3 years	4.13% APY	$500
4 years	4.13% APY	$500
5 years	4.15% APY	$500

Term	APY	Min. deposit
1 year	3.90% APY	$1,000
18 months	3.87% APY	$1,000
2 years	3.82% APY	$1,000
3 years	3.75% APY	$1,000
4 years	3.75% APY	$1,000
5 years	3.75% APY	$1,000

Read review

Limelight Bank

4.1 Bankrate CD score

Annual percentage yield

3.80%
Min. deposit to open

$1,000
Term

2 years

Why Limelight Bank?

Limelight Bank is an online-only bank that supports solar initiatives. It offers a competitive two-year CD and five other high-yield terms, all of which require a $1,000 minimum deposit. It also provides a high-yield savings account with a top-notch APY and a $100 minimum opening deposit.

Term	APY	Min. deposit
3 months	3.35% APY	$500
6 months	3.85% APY	$500
9 months	4.00% APY	$500
1 year	4.00% APY	$500
18 months	4.09% APY	$500
2 years	4.16% APY	$500
3 years	4.13% APY	$500
4 years	4.13% APY	$500
5 years	4.15% APY	$500

Term	APY	Min. deposit
6 months	4.08% APY	$1,000
1 year	4.03% APY	$1,000
18 months	3.90% APY	$1,000
2 years	3.80% APY	$1,000
3 years	3.65% APY	$1,000
5 years	3.30% APY	$1,000

Read review

First National Bank of America

4.3 Bankrate CD score

Annual percentage yield

3.80%
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 have less severe penalties.

Term	APY	Min. deposit
3 months	3.35% APY	$500
6 months	3.85% APY	$500
9 months	4.00% APY	$500
1 year	4.00% APY	$500
18 months	4.09% APY	$500
2 years	4.16% APY	$500
3 years	4.13% APY	$500
4 years	4.13% APY	$500
5 years	4.15% APY	$500

Term	APY	Min. deposit
3 months	3.60% APY	$1,000
6 months	3.85% APY	$1,000
7 months	4.05% APY	$1,000
1 year	3.95% APY	$1,000
18 months	3.80% APY	$1,000
2 years	3.80% APY	$1,000
3 years	3.80% APY	$1,000
4 years	3.80% APY	$1,000
5 years	3.80% APY	$1,000
6 years	4.00% APY	$1,000
7 years	4.10% APY	$1,000
8 years	4.10% APY	$1,000
9 years	4.10% APY	$1,000
10 years	4.20% APY	$1,000

Read review

The Federal Savings Bank

4.4 Bankrate CD score

Annual percentage yield

3.80%
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.

Term	APY	Min. deposit
3 months	3.35% APY	$500
6 months	3.85% APY	$500
9 months	4.00% APY	$500
1 year	4.00% APY	$500
18 months	4.09% APY	$500
2 years	4.16% APY	$500
3 years	4.13% APY	$500
4 years	4.13% APY	$500
5 years	4.15% APY	$500

Term	APY	Min. deposit
3 months	0.20% APY	$500
6 months	0.25% APY	$500
1 year	3.90% APY	$5,000
2 years	3.80% APY	$5,000
3 years	3.50% APY	$5,000
4 years	3.50% APY	$5,000
5 years	3.50% APY	$5,000

Read review

Colorado Federal Savings Bank

4.2 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, Colorado Federal may not be a good fit for a CD ladder.

Term	APY	Min. deposit
3 months	3.35% APY	$500
6 months	3.85% APY	$500
9 months	4.00% APY	$500
1 year	4.00% APY	$500
18 months	4.09% APY	$500
2 years	4.16% APY	$500
3 years	4.13% APY	$500
4 years	4.13% APY	$500
5 years	4.15% APY	$500

Term	APY	Min. deposit
3 months	3.50% APY	$5,000
6 months	3.90% APY	$5,000
1 year	4.00% APY	$5,000
18 months	3.85% APY	$5,000
2 years	3.80% APY	$5,000
3 years	3.75% APY	$5,000
5 years	3.60% APY	$5,000

Read review

E*TRADE

4.5 Bankrate CD score

Annual percentage yield

3.75%
Min. deposit to open

$0
Term

2 years

Why E*TRADE?

In addition to offering a competitive APY on its two-year CD, Morgan Stanley Private Bank 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.

Term APY Min. deposit

6 months 4.05% APY No minimum

1 year 4.10% APY No minimum

2 years 3.75% APY No minimum

3 years 3.75% APY No minimum

5 years 3.85% APY No minimum

Term	APY	Min. deposit
6 months	4.05% APY	No minimum
1 year	4.10% APY	No minimum
2 years	3.75% APY	No minimum
3 years	3.75% APY	No minimum
5 years	3.85% APY	No minimum

Read review

Marcus by Goldman Sachs

4.8 Bankrate CD score

Annual percentage yield

3.70%
Min. deposit to open

$500
Term

2 years

Why Marcus by Goldman Sachs?

Marcus by Goldman Sachs is the online-only banking arm of Goldman Sachs Bank USA. In addition to its many regular CDs that all have strong rates, Marcus also offers three no-penalty CD terms and a rate bump CD. A minimum deposit of $500 is required to open any CD and earn the posted APY. The early withdrawal penalty for the two-year CD is 180 days' worth of interest, which is fairly standard.

Term	APY	Min. deposit
3 months	3.35% APY	$500
6 months	3.85% APY	$500
9 months	4.00% APY	$500
1 year	4.00% APY	$500
18 months	4.09% APY	$500
2 years	4.16% APY	$500
3 years	4.13% APY	$500
4 years	4.13% APY	$500
5 years	4.15% APY	$500

Term	APY	Min. deposit
6 months	3.95% APY	$500
7 months	3.75% APY	$500
7 months	3.75% APY	$500
9 months	4.00% APY	$500
11 months	3.80% APY	$500
1 year	3.90% APY	$500
13 months	3.80% APY	$500
13 months	3.80% APY	$500
14 months	4.00% APY	$500
18 months	3.80% APY	$500
20 months	3.75% APY	$500
2 years	3.70% APY	$500
3 years	3.70% APY	$500
4 years	3.70% APY	$500
5 years	3.80% APY	$500
6 years	3.80% APY	$500

Read review

Bask Bank

3.4 Bankrate CD score

Annual percentage yield

3.65%
Min. deposit to open

$1,000
Term

2 years

Why Bask Bank?

Bask Bank has been around since 2020 and is a division of Texas Capital Bank. Bask Bank offers six CD terms ranging from three months to two years and many of the CDs offer competitive APYs. The minimum deposit of $1,000 is fairly standard.

Term	APY	Min. deposit
3 months	3.35% APY	$500
6 months	3.85% APY	$500
9 months	4.00% APY	$500
1 year	4.00% APY	$500
18 months	4.09% APY	$500
2 years	4.16% APY	$500
3 years	4.13% APY	$500
4 years	4.13% APY	$500
5 years	4.15% APY	$500

Term	APY	Min. deposit
3 months	3.85% APY	$1,000
6 months	3.90% APY	$1,000
9 months	4.00% APY	$1,000
1 year	4.05% APY	$1,000
18 months	3.75% APY	$1,000
2 years	3.65% APY	$1,000

How the Fed affects 2-year CD rates

High-yield CD rates tend to increase when the Fed hikes its benchmark rate, and they likewise often decrease when the Fed lowers its rate. Cuts to the federal funds rate in 2024 and 2025 spurred decreases in competitive CDs rates, including two-year CDs.

But officials haven’t changed the federal funds rate so far in 2026, and top CD rates have held fairly steady as a result. You may find some rates that still outpace inflation, though others may already be lagging behind.

Expert Insight

Inflation is sticky right now. There’s a chance your money may not be outpacing inflation in a high-yield savings account or CD but that doesn't mean you should shove your money into the stock market hoping to beat inflation. While it's a bummer to lose purchasing power to inflation, safety for your savings is more important, especially if it's your emergency savings.

Yuliya Goldshteyn

Editor, Deposits

How to find the best 2-year CD

The best 2-year CD for you consists of a number of factors:

You’ll often find the best two-year CD rates from online-only banks. Many pay higher APYs to help draw customers from long-established brick-and-mortar banks. Also check out credit unions, which are not-for-profit institutions that commonly share profits with members in the form of higher rates.
While some banks and credit unions don’t require any set amount, others may require a minimum of $1,000 or more. Find the minimum that works for your funds.
It’s also important to make sure your money is protected if the bank or credit union were to fail. For banks covered by the Federal Deposit Insurance Corp. (FDIC) and credit unions covered by the National Credit Union Administration (NCUA), your money is insured for up to $250,000 per depositor, per insured institution, per ownership category.
You’ll likely pay a penalty if you need to withdraw your funds early. This penalty for a two-year CD could be around 180 days’ worth of interest — although some banks may charge more or less.

Alternatives to CDs

18-month CDs

If you’d rather lock up your money for a shorter amount of time, a top-yielding 18-month CD could be a better choice

Money market account

Like high-yield savings accounts, money market accounts often earn high rates — and some come with check-writing privileges

High-yield savings account

Unlike CDs, these accounts don’t lock in your funds, and some are paying similar rates to those of top two-year CDs

Young couple look at good news on smartphone

Bonds

Bonds are often less risky than stocks — and like CDs, they can offer predictable returns

2-year CD FAQs

At the end of the term, you’re free to withdraw the money to use it for a planned purchase or expense. You can also choose to 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 will likely renew automatically after a grace period, typically within seven to 10 days.
In addition to helping you meet your mid-term financial goals, two-year CDs can be used as a rung when you’re building a CD ladder.

Done correctly, CD laddering allows you to lock in high rates on longer maturities while still getting regular infusions of cash to spend or reinvest.

With a CD ladder, you divide your deposit amount into CDs with different terms. For example, you could open a three-rung ladder made up of a one-, two- and three-year CD. When each of your ladder’s CDs mature, you can choose to deposit the money into new CDs or invest the money elsewhere. When making this decision, consider when you’ll want access to the funds again as well as how the going rates on new CDs compare with alternative investments.

Meet the Bankrate Experts

Written by

Karen Bennett Karen Bennett

Consumer Banking Reporter

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.

Alliant Credit Union, Ally Bank, Alto, America First Credit Union, American Express National Bank, Axos Bank, Banesco USA, Bank of America, Bank5 Connect, BankUnited Direct, Barclays Bank, Bask Bank, BMO Bank, Boeing Employees’ Credit Union, Bread Savings, BrioDirect, BTG Pactual, Capital One, Cash App, CFG Bank, Charles Schwab Bank, Chase Bank, CIBC Bank USA, CIT Bank, Citibank, Citizens Access, Citizens Bank, Colorado Federal Savings Bank, Connexus Credit Union, Credit One Bank, Customers Bank, Discover Bank, E*TRADE from Morgan Stanley, Emigrant Bank, EverBank, Fifth Third Bank, First Citizens Bank, First Internet Bank, First National Bank of America, First Tech Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, Golden 1 Credit Union, Huntington National Bank, Jenius Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Limelight Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Mountain America Credit Union, MySavingsDirect, Navy Federal Credit Union, NBKC Bank, North American Savings Bank, Openbank, Patelco Credit Union, Peak Bank, Pentagon Federal Credit Union, PNC Bank, Popular Direct, Quontic Bank, Quorum Federal Credit Union, Regions Bank, Rising Bank, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, SoFi, State Employees' Credit Union, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Texas Capital Bank, The Federal Savings Bank, Third Federal Savings and Loan, Truist Bank, UFB Direct, US Bank, USAA Bank, Valley Bank, Varo Bank, Vio Bank, Wells Fargo, Western State Bank, Zions Bank, ZYNLO Bank

Best 2-year CD rates for May 2026

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Choose an account

Continue to the bank

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

BTG Pactual Bank

Annual percentage yield

Min. deposit to open

Term

Why BTG Pactual Bank?

Current BTG Pactual Bank CD Rates

Bread Savings

Annual percentage yield

Min. deposit to open

Term

Why Bread Savings?

Current Bread Savings CD Rates

Sallie Mae

Annual percentage yield

Min. deposit to open

Term

Why Sallie Mae?

Current Sallie Mae CD Rates

Popular Direct

Annual percentage yield

Min. deposit to open

Term

Why Popular Direct?

Current Popular Direct CD Rates

TAB Bank

Annual percentage yield

Min. deposit to open

Term

Why TAB Bank?

Current TAB Bank CD Rates

Limelight Bank

Annual percentage yield

Min. deposit to open

Term

Why Limelight Bank?

Current Limelight Bank CD Rates

First National Bank of America

Annual percentage yield

Min. deposit to open

Term

Why First National Bank of America?

Current First National Bank of America CD Rates

The Federal Savings Bank

Annual percentage yield

Min. deposit to open

Term

Why The Federal Savings Bank?

Current The Federal Savings Bank CD Rates

Colorado Federal Savings Bank

Annual percentage yield

Min. deposit to open

Term

Why Colorado Federal Savings Bank?

Current Colorado Federal Savings Bank CD Rates

E*TRADE

Annual percentage yield

Min. deposit to open

Term

Why E*TRADE?

Current E*TRADE CD Rates

Marcus by Goldman Sachs

Annual percentage yield

Min. deposit to open

Term

Why Marcus by Goldman Sachs?

Current Marcus by Goldman Sachs CD Rates

Bask Bank

Annual percentage yield

Min. deposit to open

Term

Why Bask Bank?

Current Bask Bank CD Rates

How the Fed affects 2-year CD rates