CD Rates in Rhode Island 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
Rhode Island savers looking to earn a guaranteed return on their money have a great option: certificates of deposit (CDs). While opening a CD is a relatively simple process, finding the right one will take some research.
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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 Rhode Island
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Term
The term is the period your funds are locked in, and typically ranges from three months to five years. Consider how long you can park your cash without needing to tap into it, and what your savings goal is.
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Yield
The rate portion of finding the best rate. The annual percentage yield (APY) is the total amount of interest you will earn on a CD over one year, taking into account compound interest.
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Minimum deposit
When deciding which CD to take out, you'll need to keep in mind whether you can afford the minimum deposit. Sometimes the best rate won't fit what you're looking to save.
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Fees and penalties
It's not uncommon for CDs to come with an early withdrawal penalty. That means if you need to pull your funds early, you may be charged several months' worth of interest.
Don't forget about credit unions
While local banks and credit unions may periodically offer higher CD rates, online banks and credit unions consistently provide the most competitive yields. Credit unions are nonprofit institutions, which means they can offer higher returns to their customers, rather than shareholders.
Rhode Island residents have a number of local credit unions to choose from. The three biggest that offer CDs have a combined membership of over 350,000 as of the fourth quarter of 2025.
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
Typically shorter terms, especially those under a year, have significantly lower yields. If you can afford to keep your funds locked down for longer, you'll likely earn more. That said, you should be sure you don't need to touch the cash for the entirety of the term to avoid losing interest earned.
Next steps to take out a CD in Rhode Island
Compare the overall best CD rates
Bankrate's experts give their top picks for CDs every month so you can compare with ease.
Check nationally available credit union CD rates
These credit unions have the best CDs available — just make sure you qualify for membership.
Calculate how much you can save
Use Bankrate's CD calculator if you want to spend a little more time with the numbers.
Learn about CD ladders
Ladder up your savings with ongoing CDs.
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