CD Rates in Pennsylvania for July 2025

Updated July 14, 2025

Written by

Edited by

Now is one of the best times to open a certificate of deposit (CD), with rates higher than they've been in decades. While CD rates have started to slowly decline, they're still outpacing inflation in many cases. Experts predict that while rates will stay relatively high for the near future, they'll likely fall when the Federal Reserve eventually cuts rates. For Pennsylvania residents looking to lock in today's competitive rates, here's what you need to know.

^{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.}

Show me:

CDs

Zip code

Deposit amount

Current 1 year CD trends

Bankrate Partner average

4.07% APY

National average

2.02% APY

CD rates

CD IRA rates

No penalty CD rates

Min. term length

Max. term length

How to find the best CD rates in Pennsylvania

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

Pick the right term length

CD terms typically range from 7 days to 10 years. Choose a term based on how long you can realistically leave your money untouched. Most CDs charge penalties for early withdrawal, so be honest about when you'll need access to your funds.

Consider minimum deposit requirements too. Online banks often have low minimums ($0 to $1,000), while traditional Pennsylvania banks typically require $1,000 to $2,500. For jumbo CDs with potentially higher rates, expect to need around $100,000.

Get the best possible yield

Getting the highest yield is usually the top priority when choosing a CD. While rates have started to decline, top CD yields still exceed 4% APY. However, rates vary significantly between institutions.

Major Pennsylvania banks like PNC, Citizens, and Wells Fargo typically offer much lower rates than online banks like Rising Bank and Marcus by Goldman Sachs. The difference is substantial — often 1-2% APY higher at online banks.

Remember that the highest yield isn't always best if you might need early access. If there's a chance you'll need your money before maturity, consider a no-penalty CD or a shorter term option.

Check early withdrawal penalties

Almost all banks charge penalties if you withdraw money before your CD matures. These penalties vary widely between institutions. For a 12-month CD, penalties typically range from 3 to 6 months' worth of interest, and some banks add flat fees on top.

If there's a chance you might need early access to your money, look for CDs with milder penalties or explore high-yield savings accounts that allow easier access to your funds.

Short-term vs. long-term CDs

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

Long-term CDs make sense for Pennsylvania residents who won't need their money for several years. With CD rates starting to drift lower, locking in today's still-competitive rates provides protection against future rate drops.

If you want more flexibility, consider creating a CD ladder. This strategy divides your money across multiple CDs with staggered maturity dates, giving you more access while being able to earn higher average returns.

Short-term CDs work well if you need your money relatively soon or have specific near-term goals. They're perfect for saving for a down payment, vacation, or other planned expenses coming up within the next year.

Short-term CDs also give you the flexibility to reinvest at potentially different rates as the market changes, though with rates trending downward, this may be less advantageous than in previous years.

How to compare CD rates in Pennsylvania

Pennsylvania residents should consider CDs available only in their region (and those with the banks they already have accounts in), but also those available to anyone in the U.S., as is the case with most online-only banks.

The most popular banks in Pennsylvania by number of branches include PNC Bank, Citizens Bank and Wells Fargo Bank. While these banks offer the convenience of local branches, their CD rates typically fall well below what you can find elsewhere.

If you already bank with one of these institutions and value keeping all your accounts in one place, check if they offer relationship rates for existing customers. Sometimes banks provide better CD rates if you maintain other accounts with them.

For the highest yields, look to online banks, which consistently offer rates higher than traditional banks. Many online institutions are available to all state residents and often provide robust digital tools for account management.