CD Rates in Florida for December 2025

There are three main components you should consider when choosing a CD: the term length, the yield and the penalty for early withdrawal. 

Florida banks and credit unions 

Several Florida-based institutions offer competitive CD rates to local residents. Regional banks and credit unions include SouthState Bank and VyStar Credit Union.

Many Florida credit unions offer membership to residents who live or work in specific counties. Credit unions sometimes offer higher CD rates than traditional banks, so they're worth considering as part of your search.

Choosing the CD term

A CD term is the length of time your money is slated to stay within the account. Terms typically range anywhere from 6 months to 5 years, though some banks offer terms as short as three months to as long as 10 years, some even longer. To find the right term for you, consider how long you can park your cash in the account without the need to withdraw from it. Unless you're opening a no-penalty CD, you'll likely pay a penalty for withdrawing your money before the CD's maturity date.

You'll also want to consider the minimum opening deposit when choosing your term. While some banks don't have a minimum deposit requirement, others may ask for a relatively standard $500 or $1,000 minimum deposit. If you're interested in a jumbo CD, you'll likely need around $100,000 to open an account. 

Choosing the yield

CD rates vary significantly between banks and credit unions. While traditional brick-and-mortar banks like Bank of America and Chase Bank typically offer lower rates, online banks like Ally Bank and Marcus by Goldman Sachs tend to offer more competitive yields. As interest rates change, it's important to compare current offers from multiple banks to find the best rate for your savings. 

Mind the early withdrawal penalties

Banks typically impose an early withdrawal penalty if you withdraw some or all of the principal before a CD matures. Early withdrawal penalties range widely from bank to bank. A relatively standard early withdrawal penalty for a 12-month CD could range anywhere from three to six months of interest. And some banks may even impose a flat fee on top of that penalty, further ratcheting up the cost of withdrawing from a CD before maturity. 

Here, you'll want to consider your risk tolerance, balancing the term and the yield with the associated penalty. If you're more likely than not to withdraw early, you may want to consider a CD with a lower yield but a softer penalty.

Whether to invest in a short-term or long-term CD is dependent on your financial situation.

When choosing a CD, Floridians should consider CDs available both nationwide and those available only in their region. Online-only banks typically offer CDs nationwide, and these tend to offer the highest rates. But if you already bank at a Florida-based institution and want to consolidate your finances under one roof, it may be worth giving your bank a call to inquire about its CD offerings.

That noted, there are also many banks based outside of Florida that still offer deposit products for residents of the sunshine state. CD terms, yields and penalties vary widely for regional banks, but that's another avenue Floridians can check when narrowing their options.