The top four-year CDs have something in common: They offer savers a higher yield than savings accounts and money market accounts. Combine that with a guaranteed rate of return and safety (when you choose a federally insured account), and these investments are worth considering.

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 4.55 percent APY, which may be a good way to invest for a long-term financial obligation, like starting a business.

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

Note: Annual percentage yields (APYs) shown are as of Feb. 1, 2023, and may vary by region for some products.

*Rate not available in Arizona, Florida, Illinois, Indiana, Kansas, Minnesota, Missouri and Wisconsin.

These are the top widely available four-year CD rates. Evaluate the offers, then calculate how much interest you would earn when your CD matures.

A closer look at the top 4-year CD rates

Randolph-Brooks Federal Credit Union: 4.55% APY; $20,000 minimum to earn APY

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 about 975,000 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.

BMO Harris: 4.50% APY; $1,000 minimum deposit

BMO Harris offers 15 terms of CDs ranging from three months to five years, with a minimum opening deposit of $1,000.

Based in Chicago, the bank operates more than 500 branches in Arizona, Florida, Illinois, Indiana, Kansas, Minnesota, Missouri and Wisconsin. The competitive rates offered on CDs with terms six months and longer are unavailable to residents of states where BMO has branches.

Bread Savings: 4.50% APY; $1,500 minimum deposit

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.

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.

First Internet Bank of Indiana: 4.44% APY; $1,000 minimum deposit

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.

Discover Bank: 4.35% APY; $2,500 minimum deposit

Discover Bank offers a wide selection of banking products, including 12 CD terms as well as a money market account, savings account and checking account. Discover Bank’s products tend to offer competitive APYs.

Barclays: 4.30% APY; $0 minimum deposit

Barclays is a global bank founded in London more than 300 years ago. It introduced the first ATM to the world in 1967. Barclays has no minimum balance requirements to open an online CD. It offers nine CD terms ranging from three months to 60 months.

Synchrony Bank: 4.30% APY; $0 minimum deposit

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.

Alliant Credit Union: 4.25% APY; $1,000 minimum deposit

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.

Capital One: 4.20% APY; $0 minimum deposit

Capital One, based in McLean, Virginia, is an online bank that also has branches.

Capital One offers nine competitive terms of regular CDs. Capital One’s CDs and 360 Performance Savings account don’t have minimum balance requirements.

SchoolsFirst Federal Credit Union: 4.10% APY; $20,000 minimum deposit to earn APY

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.

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 more than four times the national average of 1.14 percent annual percentage yield (APY), according to Bankrate’s most recent national survey of banks and thrifts.

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.

4-year CD FAQs

  • A four-year CD offers a fixed rate of return and can be a solid option for consumers who value safety and don’t want surprises, unlike money invested in stocks, which is subject to market volatility and possible loss of principal. Your CD is protected if it’s with an FDIC-insured bank or an NCUA credit union, which are both backed by the full faith and credit of the U.S. government.

    But there are limits to the amount of insurance. Each depositor at an FDIC bank is insured up to $250,000 per insured bank, per account category. The standard share insurance amount at an NCUA credit union is $250,000 per share owner, per insured credit union, for each ownership category.
  • Consider a four-year CD if you have money you’re looking to grow for at least four years. If you withdraw your money from the CD before the CD matures, you’ll likely incur an early withdrawal penalty.

    A four-year CD could be a good choice for those looking for a higher APY than they might otherwise earn in a savings account or money market account, particularly in an environment in which APYs are stagnant or decreasing.
  • Pros of a 4-year CD

    • 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 of a 4-year CD

    • 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.
  • A typical CD has an early withdrawal penalty. If your investment strategy calls for putting your money into a four-year CD, consider looking for one with a manageable fee, especially if you think you may close your account before it matures. Another option is to look for institutions giving savers a one-time rate increase over the course of their terms.

Methodology for Bankrate’s Best CD Rates

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.

Banks we monitor

These financial institutions are featured in our CD rate research: Alliant Credit Union, Ally Bank, Amerant Bank, America First Credit Union, American Express National Bank, Axos Bank, Bank5 Connect, Bank of America, Bank of the West, Barclays, Bask Bank, BB&T, BECU (Boeing Employees Credit Union), Bethpage Federal Credit Union, BMO Harris Bank, Bread Financial (formerly Comenity Direct), BrioDirect, Capital One Bank, Chase Bank, CIBC USA, CIT Bank, Citibank, Citizens, Citizens Bank (Rhode Island), Comerica Bank, Customers Bank, Delta Community Credit Union, Discover Bank, Emigrant Direct, Fifth Third Bank, First Citizens Bank, First Internet Bank, First Technology Federal Credit Union, FNBO Direct, Golden 1 Credit Union, Marcus by Goldman Sachs, Morgan Stanley Private Bank, Huntington National Bank, Investors Bank, Investors eAccess, KeyBank, Limelight Bank, Live Oak Bank, M&T Bank, MySavingsDirect, Navy Federal Credit Union, NBKC Bank, PenFed Credit Union, PNC Bank, Popular Direct, PurePoint Financial, Quontic Bank, Randolph-Brooks Federal Credit Union, Regions Bank, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, State Employees’ Credit Union, Suncoast Credit Union, Suntrust Bank, Synchrony Bank, TD Bank, TIAA Bank, UFB Direct, Union Bank (California), U.S. Bank, USAA Bank, Vio Bank, VyStar Credit Union, Wells Fargo and Zions Bank.