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Best CD Accounts: Compare CD Rates, Terms and Penalties

Six FDIC-insured banks offering certificates of deposit, compared by term choices, CD types and the fine print that affects what you earn.

By Fountain Finances Editorial Team Updated 6 options compared

Advertiser disclosure: Fountain Finances may earn a commission when you apply through links marked “Affiliate link.” That never changes which products we include or how we describe them. Products without an affiliate relationship are listed on equal terms. How we make money.

Rates and fees on deposit accounts, cards and loans change frequently. We show a number only after our editors have confirmed it on the provider’s own disclosure page, together with the date it was checked. Where no figure is shown, follow the link for the provider’s current terms.

At a glance

Summary of best cd accounts: compare cd rates, terms and penalties
ProviderProductTypeWorth a look forInsurance
Ally Bank High Yield CD and No Penalty CD Online CDs Savers who want both standard and no-penalty CD options from one online bank FDIC
American Express National Bank Certificates of Deposit Online CDs Savers who want standard CDs from a large national bank FDIC
Barclays Bank Delaware Online CDs Online CDs Savers who want online CDs with a range of terms FDIC
Capital One 360 CDs Online CDs with branch access Savers who want CDs alongside checking and savings at the same bank FDIC
Marcus by Goldman Sachs High-Yield CDs and No-Penalty CDs Online CDs Savers who want both standard and no-penalty CD choices FDIC
Synchrony Bank Certificates of Deposit Online CDs Savers who want a wide selection of CD terms FDIC

The options in detail

High Yield CD and No Penalty CD

Ally Bank · Online CDs

FDIC insured

Worth a look for: Savers who want both standard and no-penalty CD options from one online bank

APY
Variable — check today’s rate
Fees
See provider’s fee schedule
Minimums
See Ally’s current CD terms

Key features

  • Range of standard CD terms
  • No-penalty CD option
  • Manage alongside Ally savings and checking

Pros

  • No-penalty option adds flexibility
  • Easy to build a CD ladder in one place

Cons

  • No branches
  • No-penalty CDs typically pay less than standard CDs of similar length

Things to consider

Review the early withdrawal penalty for standard CDs and the grace period at maturity.

Listed #1 alphabetically, not ranked. Confirm current rates, fees and eligibility on the provider’s site before applying.

See provider at Ally Bank (opens in a new tab) ↗ On ally.com

Certificates of Deposit

American Express National Bank · Online CDs

FDIC insured

Worth a look for: Savers who want standard CDs from a large national bank

APY
Variable — check today’s rate
Fees
See provider’s fee schedule
Minimums
See American Express’s current terms

Key features

  • Several term lengths
  • Online account management
  • Pairs with the American Express savings account

Pros

  • Simple product lineup
  • Large, established institution

Cons

  • Fewer specialty CD types
  • Early withdrawal penalties apply

Things to consider

Confirm the penalty schedule before choosing longer terms.

Listed #2 alphabetically, not ranked. Confirm current rates, fees and eligibility on the provider’s site before applying.

See provider at American Express National Bank (opens in a new tab) ↗ On americanexpress.com

Online CDs

Barclays Bank Delaware · Online CDs

FDIC insured

Worth a look for: Savers who want online CDs with a range of terms

APY
Variable — check today’s rate
Fees
See provider’s fee schedule
Minimums
See Barclays’ current terms

Key features

  • Multiple CD terms
  • Online-only account management
  • Also offers online savings

Pros

  • Range of term lengths for laddering
  • Online convenience

Cons

  • No checking account
  • No branches

Things to consider

Link an external checking account for funding and maturity transfers.

Listed #3 alphabetically, not ranked. Confirm current rates, fees and eligibility on the provider’s site before applying.

See provider at Barclays Bank Delaware (opens in a new tab) ↗ On banking.barclaysus.com

360 CDs

Capital One · Online CDs with branch access

FDIC insured

Worth a look for: Savers who want CDs alongside checking and savings at the same bank

APY
Variable — check today’s rate
Fees
See provider’s fee schedule
Minimums
See Capital One’s current terms

Key features

  • Range of CD terms
  • Choose to have interest paid out or compounded in the CD
  • Manage alongside Capital One checking and savings

Pros

  • Convenient if you already bank with Capital One
  • Branch and café access in some areas

Cons

  • Early withdrawal penalties apply
  • Branch access limited to certain markets

Things to consider

Choose at opening whether interest is paid out or added to the CD.

Listed #4 alphabetically, not ranked. Confirm current rates, fees and eligibility on the provider’s site before applying.

See provider at Capital One (opens in a new tab) ↗ On capitalone.com

High-Yield CDs and No-Penalty CDs

Marcus by Goldman Sachs · Online CDs

FDIC insured

Worth a look for: Savers who want both standard and no-penalty CD choices

APY
Variable — check today’s rate
Fees
See provider’s fee schedule
Minimums
See Marcus’s current terms

Key features

  • Standard high-yield CD terms
  • No-penalty CD option
  • Rate guarantee period after opening, per Marcus’s terms

Pros

  • Flexible no-penalty option
  • Offered by Goldman Sachs Bank USA

Cons

  • No checking account
  • Early withdrawal penalties on standard CDs

Things to consider

Read how the funding window and rate guarantee work when you open a CD.

Listed #5 alphabetically, not ranked. Confirm current rates, fees and eligibility on the provider’s site before applying.

See provider at Marcus by Goldman Sachs (opens in a new tab) ↗ On marcus.com

Certificates of Deposit

Synchrony Bank · Online CDs

FDIC insured

Worth a look for: Savers who want a wide selection of CD terms

APY
Variable — check today’s rate
Fees
See provider’s fee schedule
Minimums
See Synchrony’s current terms

Key features

  • Wide range of terms
  • Online and mobile management
  • Also offers savings and money market accounts

Pros

  • Many term choices for laddering
  • Established online bank

Cons

  • No checking account
  • Early withdrawal penalties apply

Things to consider

Note the grace period at maturity; CDs may renew automatically if you take no action.

Listed #6 alphabetically, not ranked. Confirm current rates, fees and eligibility on the provider’s site before applying.

See provider at Synchrony Bank (opens in a new tab) ↗ On synchronybank.com

How we chose and compared these options

We list providers in alphabetical order rather than ranking them, because the right choice depends on your situation. To be included, each product must be widely available to U.S. consumers and publish its terms online. We compared them on the following criteria:

  • Insurance. All CDs listed are offered by FDIC-insured banks.
  • Term selection. The range of terms available for matching goals and building a ladder.
  • CD types. Availability of no-penalty or other specialty CDs.
  • Early withdrawal penalties. How much interest you give up if you withdraw early.
  • Maturity handling. Grace periods, renewal rules and how interest is paid.

Compensation from providers never affects which products appear or how we describe them. Read our full editorial methodology and affiliate disclosure.

How to compare CDs

  1. Compare APYs for the same term on each bank’s site.
  2. Read the early withdrawal penalty — longer terms usually carry larger penalties.
  3. Check the maturity rules — grace period length and automatic renewal.
  4. Decide how interest is paid — added to the CD or sent to another account.

A CD makes the most sense for money you won’t need until a known date. For your emergency fund, a high-yield savings account is usually a better fit. Estimate earnings with the CD calculator and read how CDs work.

Frequently asked questions

What term should I choose?

Match the term to when you’ll need the money. If you’re unsure, a CD ladder or a no-penalty CD provides flexibility.

Are online CDs safe?

CDs at FDIC-member banks are insured up to $250,000 per depositor, per insured bank, for each ownership category, whether the bank is online or has branches.

What happens when my CD matures?

You typically have a short grace period to withdraw or change terms. Otherwise many CDs renew automatically at the rate then in effect.

Sources

  1. National Rates and Rate Caps — Federal Deposit Insurance Corporation
  2. Deposit Insurance — Federal Deposit Insurance Corporation

Read before you choose