Best CD rates of October 2024 (Up to 5.10%)
Updated Oct. 3, 2024
Opening a certificate of deposit (CD) allows you to lock in an attractive fixed rate and earn higher returns compared to traditional savings accounts, while providing FDIC or NCUA insurance protection and guaranteed growth for a set period of time. Currently, the best CD rates range from 4.30 percent APY to 5.10 percent APY. This top rate is offered by Barclays for a 6-month term, and is roughly three times higher than the national average of 1.73 percent on a one-year CD. Before opening a certificate of deposit, be sure to read expert advice and tips below to ensure a financially safe decision.
Bankrate's picks for top CD rates
- America First Credit Union — 3 months - 5 years, 3.85% – 5.00% APY, $500 minimum deposit
- Quontic Bank — 3 months - 5 years, 3.00% – 4.95% APY, $500 minimum deposit
- Popular Direct — 3 months - 5 years, 3.55% – 4.65% APY, $10,000 minimum deposit
- Vio Bank — 6 months - 5 years, 2.75% – 4.60% APY, $500 minimum deposit
- Synchrony Bank — 3 months - 5 years, 0.25% – 4.50% APY, no minimum deposit
- Sallie Mae Bank — 6 months - 5 years, 3.85% – 4.50% APY, $2,500 minimum deposit
- Capital One — 6 months - 5 years, 3.50% – 4.30% APY, no minimum deposit
- Marcus by Goldman Sachs — 6 months - 5 years, 3.80% – 4.30% APY, $500 minimum deposit
- Barclays Bank — 9 months - 5 years, 3.00% – 4.25% APY, no minimum deposit
- Citizens Access — 1 year - 5 years, 3.00% – 4.25% APY, $5,000 minimum deposit
Note: Annual percentage yields (APYs) shown were updated between Sept. 27 and Oct. 3. All other information is current as of Oct. 3. 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.
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The following accounts can be found at most banks and credit unions. They’re federally insured for up to $250,000 and offer a safe place to put your money while earning interest.
CDs are best for individuals looking for a guaranteed rate of return that’s typically higher than a savings account. In exchange for a higher rate, funds are tied up for a set period of time and early withdrawal penalties may apply.
Checking accounts are best for individuals who want to keep their money safe while still having easy, day-to-day access to their funds. ATM and other transactional fees may apply.
Savings and MMAs are good options for individuals looking to save for shorter-term goals. They’re a safe way to separate your savings from everyday cash, but may require larger minimum balances and have transfer limitations.
Best CD rates from top banks for October 2024
Note: Annual percentage yields (APYs) shown were updated between Sept. 27 and Oct. 3. All other information is current as of Oct. 3. 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.
Quontic Bank
Overview
Popular Direct
Overview
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.