CD Rates in Minnesota for September 2026
Updated September 22, 2026
Written by
- • Certified Financial Education Instructor (CFEI®)
- • Personal finance
- • Savings accounts
Edited by
- • NACCC Certified Credit Counselor™ (2025)
- • Consumer loans
- • Banking
If you're looking for a guaranteed return on your money in Minnesota, certificates of deposit (CDs) may be the way to go. It doesn't take too much effort to open a CD, but you'll need to do your research to find the right one.
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Not exhaustive. We survey 850+ institutions to ensure the offers you’re comparing are highly competitive. That said, Bankrate doesn’t display every financial institution or available financial product.
How to compare the best CD rates in Minnesota
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Term
These often range from three months to five years, and are the defined period your funds are locked in for. Because your cash is inaccessible, you won't want to use a CD for your emergency fund or anything you might need to access before the term is up.
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Yield
The annual percentage yield (APY) is one of the most important numbers for determining how much you will earn. It's the amount of interest earned on a CD over one year, and includes compound interest.
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Minimum deposit
Make sure you can afford the minimum deposit when you're researching options. Most CDs require a minimum deposit of $500 or $1,000, but some may require more or less.
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Fees and penalties
CDs often come with an early withdrawal penalty. These activate if you take out your funds before the term is up. You may be charged several months' worth of interest.
Don't forget about credit unions
You may be able to find more competitive yields with online banks and credit unions than you would with a national, or even regional, bank. Banks are for-profit institutions, and pass money along to shareholders. Credit unions, on the other hand, are nonprofit and pass money along to their members in the form of higher APYs and lower fees.
You can find several credit unions in Minnesota that may have membership you're eligible for as a resident. As of the fourth quarter of 2025, the top three credit unions in Minnesota have a combined membership of over 900,000.
Keep in mind: Many credit unions call their CDs share certificates or just certificates.
How to decide whether you want a long- or short-term CD
Shorter terms typically offer significantly lower yields. And even shorter terms with higher rates may earn less than a longer term due to the amount of time your money is gaining interest.
Next steps to take out a CD in Minnesota
Compare the best CD rates
Find the best nationally available CDs.
Investigate credit union rates
Make sure you qualify for membership before you apply.
Calculate how much you can save
Bankrate's CD calculator can help you get in-depth information about your options.
Learn about CD ladders
Keep your savings growing with a CD ladder.
Research methodology
Since 1976, Bankrate has been a leading publisher of rates and personal finance articles. We help our readers make smarter financial decisions, adhering to strict principles of editorial integrity and transparency.
Part of Bankrate’s editorial team is made up of a group of banking experts. These experts have collectively researched over 100 banks and review current details at least monthly to make sure readers stay up to date on the latest rates and bank products. If you see a star rating next to a product, that has been established by one of our banking experts, and is not influenced by partner status.
Note: Bankrate doesn’t include callable CDs or brokered CDs on this page and compares regular CDs and no-penalty CDs separately.
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Banks shown on page are a combination of partners and a selection of banks monitored by Bankrate. Sorting is based on the highest APYs with a $25,000 balance. Minimum balance requirements and then alphabetical order help break ties between banks and credit unions. Here's how we make money and here is our advertiser disclosure.
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Accordia Bank, Alliant Credit Union, Ally Bank, Alto, America First Credit Union, American Express National Bank, Axos Bank, Banesco USA, Bank of America, Bank5 Connect, BankUnited Direct, Barclays Bank, Bask Bank, BMO Bank, Boeing Employees’ Credit Union, Bread Savings, BrioDirect, BTG Pactual, Capital One, Cash App, CFG Bank, Charles Schwab Bank, Chase Bank, CIBC Bank USA, CIT Bank, Citibank, Citizens Access, Citizens Bank, Colorado Federal Savings Bank, Connexus Credit Union, Credit One Bank, Customers Bank, Discover Bank, E*TRADE from Morgan Stanley, Emigrant Bank, EverBank, Fifth Third Bank, First Citizens Bank, First Internet Bank, First National Bank of America, First Tech Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, Golden 1 Credit Union, Happen Bank, Huntington National Bank, Jenius Bank, KeyBank, Lake Michigan Credit Union, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Mountain America Credit Union, MySavingsDirect, Navy Federal Credit Union, NBKC Bank, North American Savings Bank, Openbank, Patelco Credit Union, Peak Bank, Pentagon Federal Credit Union, PNC Bank, Popular Direct, Quontic Bank, Quorum Federal Credit Union, Regions Bank, Rising Bank, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, SoFi, State Employees' Credit Union, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Texas Capital Bank, The Federal Savings Bank, Third Federal Savings and Loan, Truist Bank, UFB Direct, US Bank, USAA Bank, Valley Bank, Varo Bank, Vio Bank, Wells Fargo, Western State Bank, Zions Bank, ZYNLO Bank