The best CD rates of September 2020

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Who Has The Best CD Rates Right Now 4x3

Summary List Placement The best CD rates for September 2020
Best rates for a 1-year term

CD account
APY
Minimum deposit

Marcus High-Yield CD
0.85%
$500

Ally High Yield CD
0.75%
$0

Discover CD
0.70%
$2,500

Synchrony Bank CD
0.75%
$2,000

Simple No-Penalty CD
0.70%
$250

Best rates for a 2-year term

CD account
APY
Minimum deposit

Marcus High-Yield CD
0.85%
$500

Ally Raise Your Rate CD
0.75%
$0

Discover CD
0.70%
$2,500

Synchrony Bank CD
0.80%
$2,000

Best rates for a 3-year term

CD account
APY
Minimum deposit

Marcus High-Yield CD
0.85%
$500

Discover CD
0.75%
$2,500

Synchrony Bank CD
0.85%
$2,000

Ally High Yield CD
0.75%
$0

Best rates for a 4-year term

CD account
APY
Minimum deposit

Marcus High-Yield CD
0.85%
$500

Discover CD
0.75%
$2,500

Synchrony Bank CD
0.85%
$2,000

Ally Raise Your Rate CD
0.75%
$0

Best rates for a 5-year term

CD account
APY
Minimum deposit

Discover CD
0.95%
$2,500

Ally High Yield CD
1.00%
$0

Synchrony Bank CD
1.00%
$2,000

Marcus High-Yield CD
0.90%
$500

Best rates for a no-penalty CD

CD account
APY
Minimum deposit

Ally No Penalty CD
0.95%
$0

Marcus by Goldman Sachs No-Penalty CD
0.55% to 0.75%
$500

Simple No-Penalty CD
0.70%
$250

Citizens Access Liquid CD
0.55%
$5,000

Best rates for no opening deposit

CD account
APY
Minimum deposit

Ally High Yield CD
0.20% to 1.00%
$0

Capital One 360 CD
0.20% to 0.60%
$0

American Express Certificates of Deposit (CDs)
0.10% to 0.55%
$0

Barclays Online CD
0.10% to 0.40%
$0

CD rates at the largest US banks

Bank
APY
Next steps

Citibank
0.05% to 0.30%
Citibank Citibank Fixed Rate Certificates of Deposit (CDs)

Capital One
0.20 to 0.60%
Capital One Capital One 360 CDs®

PNC Bank
0.01% to 0.15%
PNC Bank PNC Fixed Rate Certificate of Deposit

TD Bank
0.05% to 0.20%
TD Bank TD Bank Choice Promotional Certificate of Deposit

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Bank of America
0.03% to 0.06%
Bank of America Bank of America Standard Term Certificate of Deposit

Chase Bank
0.01% to 0.05%
Chase Chase Certificate of Deposit (CD)

US Bank
0.05% to 0.35%
US Bank US Bank Certificate of Deposit

Charles Schwab Bank
0.05% to 0.20%
Charles Schwab Bank Charles Schwab Bank Certificate of Deposit

Wells Fargo
0.01% to 0.05%
Wells Fargo Bank Wells Fargo Step Rate Certificate of Deposit

BB&T Bank
0.01% to 0.05%
BB&T Bank BB&T Personal Certificate of Deposit

If you want to grow your money but keep it safe from the turbulence of the stock market, a certificate of deposit (CD) may be a good option.

Generally, a CD should be fee-free and as easy to open as any checking or savings account. Since you’re locking in an interest rate, it’s smart to look for the highest one. But it’s also important to consider minimum deposit requirements and penalties for early withdrawals in case you need the money in a pinch.

Below you’ll find our picks for the best CD rates right now. There’s no CD that will work for everyone, but we combed through offerings at around a dozen national banks as well as popular comparison sites, like Bankrate and NerdWallet, to find the strongest options available right now.

Table of Contents: StaticOur expert panel for this guide

We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best CDs for your needs. You can read their insights at the bottom of this post.

We’re focusing on what will make a CD most useful, including high APY, low costs, term lengths, and more.

Keep reading to learn more about our top picks

Marcus by Goldman Sachs High-Yield CD (Member FDIC) 

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Why it stands out: Marcus by Goldman Sachs offers a variety of CDs, including High-Yield CDs and No-Penalty CDs. The bank pays some of the highest rates in the industry, and its mandatory $500 minimum deposit is lower than most competitors’ required deposits.

Term options: High-Yield CD terms range from 6 months to …read more

Source:: Business Insider

      

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