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CD Rates in New York for June 2026

Updated June 29, 2026

Written by
Rhys Subitch
Edited by
Pippin Wilbers

A certificate of deposit (CD) may be a good option for New York savers who want safe, guaranteed returns. To get the best CD rates, you'll need to compare options — but it's fairly simple to break down the parts of a CD so you can make the best choice for your finances.

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here’s an explanation for how we make money. Learn more about who we are and our promise to guide you through life’s financial journey.

How to compare the best CD rates in New York

  1. Term

    CDs require funds to be locked up for a set period, called the term. Typically, terms range from three months to five years, but it's possible to find shorter or longer options.

  2. Yield

    The amount of interest you'll earn is determined by the term and the annual percentage yield (APY). APY differs from simple interest rate because it represents how much is earned in a year, including compounding interest.

  3. Minimum deposit

    You'll often find $500 or $1,000 minimum deposits. Be sure you can afford to put the minimum required amount away for the length of the term you choose.

  4. Fees and penalties

    Banks usually charge an early withdrawal penalty if you take out your cash before the term is up. The amount of interest you'll lose depends on the bank or credit union.

Don't forget about credit unions

You may be able to get a higher yield with an online bank or credit union. Credit unions are not-for-profit organizations that serve their members, rather than shareholders. That can translate to stronger yields and lower fees.

To locate a New York credit union, you can use the National Credit Union Administration's (NCUA) finder. Keep in mind some credit unions call their CDs certificates or share certificates. According to data from the fourth quarter of 2025, the three biggest New York credit unions are:

Read: Bankrate's FourLeaf Federal Credit Union review

How to decide whether you want a long- or short-term CD

Beyond the obvious drawback of potentially needing funds before the term is up, a long-term CD may be able to earn you more than a short-term one. Interest has more time to build, but that's only part of the benefit — according to data Bankrate tracks, terms of six months and longer also typically have higher yields.

Next steps to take out a CD in New York

Compare CD rates

Bankrate's best list can help you choose between some of the best CDs available.

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Consider other credit unions

Just make sure you're eligible for membership.

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Calculate how much you'll earn

Bankrate's CD calculator can help you compare terms and yields.

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Learn about CD ladders

Keep your savings growing over several CDs with a ladder.

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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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