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Best 4-year CD rates for April 2024

Best available rates across different account types for Wednesday, April 17, 2024

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Current savings trends
Bankrate Partner average
4.85% APY
National average
0.57% APY

Bankrate's picks for the top 4-year CD rates

Note: Annual percentage yields (APYs) shown were updated between April 10, 2024 and April 16, 2024. 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 Internet Bank of Indiana

First Internet Bank of Indiana_logo
Rating: 4.6 stars out of 5
4.6

Overview

First Internet Bank of Indiana was the first FDIC-insured financial institution to operate entirely online, according to the bank’s website. First Internet Bank of Indiana opened on February 22, 1999, and serves all 50 states online with no physical branches available.

First Internet Bank offers eight terms of CDs, a money market savings account with a competitive yield, a savings account and two checking accounts.
Invest Rate
4.50% APY
Loan
$1,000 minimum deposit

Popular Direct

Popular Direct_logo
Rating: 4 stars out of 5
4.0

Overview

Popular Direct is an online bank and a subsidiary of Popular Inc., a more than 120-year-old financial services company. Popular Direct was previously known as Banco Popular North America.

Popular Direct offers CDs in eight terms ranging from three months to five years. With a $10,000 minimum deposit to open, these CDs are geared toward serious savers. Interest compounds daily. Popular Direct doesn’t offer specialty CDs, such as bump-up or no-penalty CDs. It does offer a savings account with a competitive rate.
Invest Rate
4.35% APY
Loan
$10,000 minimum deposit

America First Credit Union

America First Credit Union_logo
Rating: 5 stars out of 5
5.0

Overview

America First Credit Union offers a wide range of CD terms between three and 60 months, and all of them earn rates that are highly competitive. Also offered are specialty CDs such as a bump-rate CD and a flexible CD. All CDs require a manageable minimum opening deposit.
Invest Rate
4.20% APY
Loan
$500 minimum deposit

SchoolsFirst Federal Credit Union

SchoolsFirst Federal Credit Union_logo
Rating: 4.5 stars out of 5
4.5

Overview

SchoolsFirst serves the education community in California. Certain school employees, certain retired school employees and immediate family members of SchoolsFirst Federal Credit Union members are eligible to join.

SchoolsFirst offers CDs ranging from 30 days to five years. To open a CD, a $500 minimum deposit is required. If you put in more money you may be rewarded with a higher APY, as SchoolsFirst has four rate tiers: $500, $20,000, $50,000 and $100,000.
Invest Rate
4.20% APY
Loan
$500 minimum deposit

Bread Savings

Bread Savings_logo
Rating: 4 stars out of 5
4.0

Overview

Bread Savings, formerly Comenity Direct, is an online bank that offers high-yield savings products and five terms of CDs ranging from one year to five years.

Bread Savings is part of Comenity Capital Bank, which is a unit of Bread Financial.
Invest Rate
4.15% APY
Loan
$1,500 minimum deposit

Marcus by Goldman Sachs

Marcus by Goldman Sachs_logo
Rating: 4.9 stars out of 5
4.9

Overview

Marcus by Goldman Sachs is an online bank known for offering CDs and a savings account. It also used to be known for its personal loans, but it no longer offers those. Marcus offers nine terms of regular CDs — ranging from six months to six years — three no-penalty CDs and a rate bump CD. All of these CDs have a $500 minimum deposit requirement.
Invest Rate
4.05% APY
Loan
$500 minimum deposit

Alliant Credit Union

Alliant Credit Union_logo
Rating: 4.7 stars out of 5
4.7

Overview

Alliant Credit Union was founded in 1935 as the United Airlines Employees’ Credit Union. It is one of the largest credit unions in Illinois and has 600,000 members nationwide.

Alliant offers six terms of CDs with competitive APYs and a reasonable minimum deposit requirement. It also offers IRA CDs, a high-yield savings account and a high-yield checking account.
Invest Rate
4.05% APY
Loan
$1,000 minimum deposit

TAB Bank

TAB Bank_logo
Rating: 4.6 stars out of 5
4.6

Overview

TAB Bank was established in 1998 in Ogden, Utah, as a banking service inside truck stops. TAB (Transportation Alliance Bank) serves businesses and individual customers.

It offers several checking accounts, a couple of savings account options, a money market account and CDs in eight terms, from six months to five years.
Invest Rate
4.05% APY
Loan
$1,000 minimum deposit

Synchrony Bank

Synchrony Bank_logo
Rating: 4.9 stars out of 5
4.9

Overview

Synchrony Bank is an online-only bank that’s a division of Synchrony Financial, a publicly traded provider of consumer financial services, including credit cards.

Synchrony Bank offers competitive yields on CDs across 14 terms. It also has a bump-up CD and a no-penalty CD. The bank also offers a savings account and a money market account.
Invest Rate
4.00% APY
Loan
$0 minimum deposit

EverBank (formerly TIAA Bank)

EverBank (formerly TIAA Bank)_logo
Rating: 4.6 stars out of 5
4.6

Overview

EverBank offers CD terms ranging from three months to five years. It also offers a bump-rate CD, which allows a one-time rate bump should rates go higher. EverBank offers a service for customers with deposits that exceed the FDIC insurance limit of $250,000. Funds are spread around to different federally insured banks to expand insurance coverage.
Invest Rate
4.00% APY
Loan
$1,000 minimum deposit

What is a 4-year CD?

Having a four-year CD means that your savings will be tied up for 48 months. Generally, you won’t be able to access your funds during that period of time without incurring an early withdrawal penalty.

Today’s top widely available four-year CD pays 4.50% APY , which may be a good way to invest for a long-term financial obligation, like starting a business.

How to find the best 4-year CD rates

Finding the best four-year CD rates requires some research. Start by comparing deals offered by online financial institutions. The best four-year CDs pay nearly four times the national average of 1.5 percent APY, according to Bankrate’s most recent national survey of banks and thrifts on Apr. 17, 2024.

An account that doesn’t require you to fork over too much money upfront is ideal. Look for offers that don’t force you to jump through extra hoops — such as opening a new checking account — before you can open a CD.

Pros and cons of 4-year CDs

Pros

  • You’ll earn a fixed APY.
  • If your account is insured by the FDIC or the NCUSIF — and you’re within the previously mentioned insurance guidelines — your money will be backed by the full faith and credit of the U.S. government.
  • If APYs end up decreasing, you’d be locked in at a higher rate for the next few years.
  • A four-year CD could help you diversify some of your savings/investments.

Cons

  • If rates start increasing, the funds in a four-year CD may return less interest than you might otherwise be able to earn.
  • If you need to make an early withdrawal, you’re subject to a penalty.
  • A four-year CD might not keep up with inflation over time, causing your money to lose purchasing power.

4-year CD FAQs

Research methodology

At Bankrate, we strive to help you make smarter financial decisions. We follow strict guidelines to ensure that our editorial content is unbiased and not influenced by advertisers. Our editorial team receives no direct compensation from advertisers and our content is thoroughly fact-checked to ensure accuracy.

Bankrate regularly surveys around 70 widely available financial institutions, made up of the biggest banks and credit unions, as well as a number of popular online banks.

To find the best CDs, our editorial team analyzes various factors, such as annual percentage yield, the minimum needed to earn that APY (or to open the CD) and whether or not it is broadly available. All of the accounts on this page are insured by the Federal Deposit Insurance Corp. (FDIC) or by the National Credit Union Share Insurance Fund (NCUSIF).

When selecting the best CD for you, consider the purpose of the money and when you’ll need access to these funds to help you avoid early withdrawal penalties.