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Current CD rates — August 2022

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A certificate of deposit (CD) is a time deposit account. A bank agrees to pay interest at a certain rate if savers deposit their cash for a set term, or period of time.

Find current CD rates and recent interest rate trends from Bankrate below. Here are the current average rates for the week of Aug. 10:

  • 1-year CD rate: 0.58%
  • 5-year CD rate: 0.69%
  • 1-year jumbo CD rate: 0.60%
  • 5-year jumbo CD rate: 0.72%
  • Money market account rate: 0.12%

The national average rate for one-year and five-year CDs started to increase in February, driven in part by rising Treasury yields and expectations of Federal Reserve rate increases in 2022.

The Fed raised rates in March, May, June and July. These are the first rate increases since 2018 as inflation continues to rage.

Latest CD rates: 3-month trend

Date 1-year CD 5-year CD 1-year jumbo 5-year jumbo Money market account
08/10/2022 0.58% 0.69% 0.60% 0.72% 0.12%
08/03/2022 0.57% 0.69% 0.59% 0.71% 0.12%
07/27/2022 0.52% 0.67% 0.55% 0.69% 0.10%
07/20/2022 0.51% 0.65% 0.54% 0.67% 0.10%
07/13/2022 0.52% 0.65% 0.55% 0.67% 0.10%
07/06/2022 0.42% 0.62% 0.45% 0.65% 0.10%
06/29/2022 0.39% 0.60% 0.42% 0.63% 0.09%
06/22/2022 0.37% 0.59% 0.39% 0.62% 0.09%
06/15/2022 0.33% 0.56% 0.36% 0.58% 0.08%
06/08/2022 0.28% 0.48% 0.30% 0.51% 0.08%
06/01/2022 0.27% 0.48% 0.30% 0.49% 0.08%
05/25/2022 0.26% 0.47% 0.29% 0.48% 0.08%
05/18/2022 0.24% 0.43% 0.26% 0.44% 0.08%
05/11/2022 0.24% 0.41% 0.26% 0.42% 0.08%

There’s no need to stick with low rates. Here are some of the best CD rates by term from popular banks:

Compare current CD rates by term for August 2022

Current CD rates: 6-month

  • Popular Direct: 2.00% APY
  • Live Oak Bank: 1.85% APY
  • Limelight Bank: 1.80% APY
  • First Internet Bank of Indiana: 1.61% APY
  • Marcus by Goldman Sachs: 1.50% APY
  • Capital One: 1.30% APY
  • Pentagon Federal Credit Union: 1.20% APY
  • Quontic Bank: 1.15% APY

See additional best 6-month CD rates.

Current CD rates: 1-year

  • Bread Savings (formerly Comenity Direct): 3.00% APY
  • Limelight Bank: 2.90% APY
  • Popular Direct: 2.75% APY
  • First Internet Bank of Indiana: 2.58% APY
  • Live Oak Bank: 2.50% APY
  • Marcus by Goldman Sachs: 2.40% APY
  • Barclays: 2.30% APY
  • Capital One: 2.30% APY
  • Pentagon Federal Credit Union: 2.30% APY
  • Discover Bank: 2.30% APY

See additional best 1-year CD rates.

Current CD rates: 3-year

  • Bread Savings (formerly Comenity Direct): 3.55% APY
  • Limelight Bank: 3.30% APY
  • Pentagon Federal Credit Union: 3.25% APY
  • Popular Direct: 3.10% APY
  • First Internet Bank of Indiana: 2.94% APY
  • Marcus by Goldman Sachs: 2.90% APY
  • Barclays: 2.70% APY
  • Capital One: 2.70% APY
  • Live Oak Bank: 2.70% APY
  • Discover Bank: 2.70% APY

See additional best 3-year CD rates.

Current CD rates: 5-year

  • Bread Savings (formerly Comenity Direct): 3.65% APY
  • Marcus by Goldman Sachs: 3.25% APY
  • First Internet Bank of Indiana: 3.25% APY
  • Popular Direct: 3.25% APY
  • Barclays: 3.20% APY
  • Capital One: 3.20% APY
  • Pentagon Federal Credit Union: 3.20% APY
  • Discover Bank: 3.20% APY

See additional best 5-year CD rates.

Note: Annual percentage yields (APYs) shown are as of Aug. 10, 2022, and apply to balances of $25,000. APYs for some products may vary by region.

Current CD rates FAQs

Learn more about other CD terms:

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
Senior wealth editor
Reviewed by
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