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Best 4-year CD rates – September 2022

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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 4-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 3.60 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 Sept. 13, 2022, 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

Bread Savings: 3.60% 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.

Capital One: 3.40% 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.

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.

BMO Harris: 3.25% 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.

Bethpage Federal Credit Union: 3.20% APY; $50 minimum deposit

Bethpage Federal Credit Union was founded in 1941 for employees of airplane-maker Grumman. It is located in Bethpage, New York, and has more than 430,000 members.

Bethpage offers nine terms of CDs, ranging from three months to five years. It also offers a 39-month bump-up CD, along with checking and savings accounts, loans and other financial products.

Marcus by Goldman Sachs: 3.20% APY; $500 minimum deposit

Marcus is a unit of Goldman Sachs Bank USA that offers a variety of CDs, three no-penalty CD terms and a savings account. If Marcus receives your CD deposit within 10 days of opening the account and the CD rate increases during that time, you’ll receive the higher rate.

The online bank has a wide variety of CDs, including nine regular term CDs and three no-penalty CDs.

Citizens Access: 3.20% APY; $5,000 minimum deposit

Citizens Access is the online division of Citizens Bank. It launched in July 2018 with a savings account and CDs. The bank offers five CD terms and an 11-month no-penalty CD. Yields are competitive. Its CDs and savings accounts all require a $5,000 minimum deposit.

Barclays: 3.15% APY; $0 minimum deposit

Barclays is a global bank that was 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.

Alliant Credit Union: 3.15% 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 competitive APYs with reasonable minimum balance requirements for CDs.  It also offers savings accounts, including a high-rate savings account, several checking accounts and individual retirement account (IRA) CDs.

TIAA Bank: 3.15% APY; $1,000 minimum deposit

TIAA Bank is an online bank that offers 10 terms of CDs ranging from three months to five years. TIAA requires a minimum deposit of $1,000 to open a standard CD. It also has a 42-month bump rate CD. In addition, TIAA offers a savings account, checking account and money market account.

Discover Bank: 3.15% APY; $2,500 minimum deposit

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

First Internet Bank of Indiana: 3.14% APY; $1,000 minimum deposit

First Internet Bank of Indiana opened in February 1999 and was the first FDIC-insured financial institution to operate entirely online, according to the bank’s website. Its products are available in all 50 U.S. states.

First Internet Bank offers eight terms of CDs, a money market savings account with a competitive yield, a savings account and two checking accounts.

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 six times the national average of 0.69 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

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, Bank 5 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 Savings (formerly Comenity Direct), BrioDirect, Capital One Bank, Chase Bank, CIBC USA, CIT Bank, Citibank, Citizens Access, Citizens Bank (Rhode Island), Comerica Bank, Customers Bank, Delta Community Credit Union, Discover Bank, E-Trade 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, Huntington National Bank, Investors Bank, Investors eAccess, KeyBank, LegacyTexas Bank, 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.

Written by
Matthew Goldberg
Consumer banking reporter
Matthew Goldberg is a consumer banking reporter at Bankrate. Matthew has been in financial services for more than a decade, in banking and insurance.
Edited by
Managing editor
Reviewed by
Professor of finance, Creighton University