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Best 4-year CD rates for October 2024

Best available rates across different account types for Thursday, October 3, 2024

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Current savings trends
Bankrate Partner average
4.56% APY
National average
0.59% APY

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

Note: Annual percentage yields (APYs) shown were updated between Sept. 26, 2024 and Oct. 2, 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.

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 five rate tiers: $500, $20,000, $50,000, $100,000 and $250,000.
Invest Rate Icon
4.20% APY
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$500 minimum deposit

Synchrony Bank

Synchrony Bank_logo
Rating: 4.5 stars out of 5
4.5

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 nine 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.
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4.00% APY
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$0 minimum deposit

Alliant Credit Union

Alliant Credit Union_logo
Rating: 4.2 stars out of 5
4.2

Overview

Alliant Credit Union was founded in 1935 as the United Airlines Employees’ Credit Union. It is one of the largest credit unions in the nation and has 800,000 members nationwide.

Alliant offers eight 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 Icon
4.00% APY
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$1,000 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 Icon
3.85% APY
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$500 minimum deposit

Marcus by Goldman Sachs

Marcus by Goldman Sachs_logo
Rating: 4.5 stars out of 5
4.5

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 Icon
3.85% APY
Loan Icon
$500 minimum deposit

First Internet Bank of Indiana

First Internet Bank of Indiana_logo
Rating: 4.1 stars out of 5
4.1

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 in 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 Icon
3.62% APY
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$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 130-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 Icon
3.60% APY
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$10,000 minimum deposit

Capital One

Capital One_logo
Rating: 4.5 stars out of 5
4.5

Overview

Capital One is an online bank that also has a brick-and-mortar presence, with around 265 branches.

It offers nine competitive terms of regular CDs. Capital One CDs and its 360 Performance Savings account don’t have minimum balance requirements. Capital One is based in McLean, Virginia.
Invest Rate Icon
3.55% APY
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$0 minimum deposit

Ally Bank

Ally Bank_logo
Rating: 4.6 stars out of 5
4.6

Overview

Ally Bank is an online-only bank formerly known as GMAC Bank. Ally offers seven terms of CDs, a no-penalty CD and two terms of a Raise Your Rate CD.

The Sandy, Utah-based bank also offers a savings account, an interest-bearing checking account and a money market account. Ally has 11 million customers with deposit accounts.
Invest Rate Icon
3.50% APY
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$0 minimum deposit

Randolph-Brooks Federal Credit Union

Randolph-Brooks Federal Credit Union_logo
Rating: 4.3 stars out of 5
4.3

Overview

Randolph-Brooks Federal Credit Union is headquartered in Live Oak, Texas, and operates 61 branches serving four major markets in the state: Austin, Corpus Christi, Dallas-Fort Worth and San Antonio. It has more than 1 million members.

Randolph-Brooks Federal Credit Union has CDs with terms ranging from six months to seven years. It also offers a Really Free Checking account that requires no minimum balance and charges no monthly fee.
Invest Rate Icon
3.50% APY
Loan Icon
$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 4.20% 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 1.45 percent APY, according to Bankrate’s most recent national survey of banks and thrifts on Oct. 03, 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.