Best CD Rates of June 2023 (up to 6.02%)

Our experts answer readers’ banking questions and write unbiased product reviews (here’s how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

A CD is a great option if you want to set aside your money for a set period of time and earn a fixed rate for the entire term. The best CD rate is 6.02% APY on a 6-month CD Special from Old Point National Bank. But if you’re looking for other terms, you can still find great rates.

We check rates daily to find the best rates for a variety of CD terms. If you want a no-penalty CD or a unique term length, or if you don’t have much money to deposit, we’ve also included picks for these circumstances, too.

The Best CD Rates

Our top picks for CDs are protected by FDIC or NCUA insurance. Although First Republic Bank was recently shut down, keep in mind money is safe at a federally insured financial institution. When a financial institution is federally insured, up to $250,000 per depositor is secure in a bank account.

Compare the Best CD Rates

Experts’ Advice on Choosing the Best CD

We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best high-yield savings accounts to use for your money. You can read their insights at the bottom of this post.

Insider

Here’s what they had to say about CDs. (Some text may be lightly edited for clarity.)

What makes a CD good or not good?

Mykail James, MBA, certified financial education instructor, BoujieBudgets.com:

“You always want to look at how much money you need to start up. And then if you can continuously add money in. Also, check not just what the interest rate is, but how often they pay out interest, whether it’s monthly or quarterly.”

How should someone choose a CD term length?

Roger Ma, certified financial planner with lifelaidout® and author of “Work Your Money, Not Your Life”:

“I would think about when you need the money and then compare that with what the prevailing CD rates are, and then what makes sense from a financial perspective, but also from your own personal timing perspective.”

Mykail James, CFEI:

“I believe in having a plan for whatever the funds are. If it’s supposed to be a house fund, and you want to wait for another two years to buy a house, that’s what you should be thinking of when you want to have this money.”

How should someone decide whether to put their money in a high-yield savings account, money market account, or CD?

Tania Brown, certified financial planner at SaverLife:

“So I guess we’ll start off with how much money you want to put in and the level of transactions you want to have. If you want to have any transactions, that automatically takes out CDs. Then you’re stuck between the high-yield savings and the money market account.”

Sophia Acevedo, certified educator in personal finance, banking reporter, Personal Finance Insider:

“Generally, I think a high-yield savings account or money market account could be good options for an emergency fund or short-term savings goals. A high-yield savings account offers a higher interest rate than traditional savings accounts at brick-and-mortar banks. Meanwhile, money market accounts might be worth considering if you want more account accessibility — several offer paper checks, ATM cards, or debit cards. CDs could be worthwhile if you don’t need access to some of your money, since they have a fixed interest rate for a specific term.”

Methodology: How Did We Choose the Best CDs?

Personal Finance Insider’s mission is to help smart people make the best decisions with their money. We understand that “best” is often subjective, so in addition to highlighting the clear benefits of a financial product or account — a high Annual Percentage Yield (APY), for example — we outline the limitations, too. We spent hours comparing and contrasting the features and fine print of various products so you don’t have to.

We reviewed CD offerings from around a dozen national banks using our CD rates methodology. All banks included on our list are insured by the FDIC and do not impose monthly maintenance fees on CDs.

In the event two banks offered the same APY on a CD product, we considered minimum deposit requirements and penalties for early withdrawals.

CD Frequently Asked Questions

Best CD Rates by Term

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 to find the strongest options available right now.

Best 3-month CD Rates

Best 6-month CD Rates

Best 1-year CD Rates

Best 18-month CD Rates

Best 2-year CD Rates

Best 3-year CD Rates

Best 4-year CD Rates

Best 5-year CD Rates

Best No-penalty CD Rates

Best Rates for No Opening Deposit

Best Rates for Other CD Terms

CD Rates at the Largest US Banks

About the Best CD Issuers

Ponce Bank 3 Month CD

Why it stands out: This CD is available through Raisin, an online savings marketplace that connects customers with high-yield accounts from partner institutions. Through Raisin, Ponce has the highest 3-month CD rate out there right now, plus the Ponce Bank 4 Month No Penalty CD that pays a great rate on a no-penalty CD. You only need $1 to get started.

Term options: Raisin offers multiple term lengths, both through Ponce and other bank partners.

Penalties: The 3-month Ponce Bank CD charges 90 days of simple interest, but each partner bank charges different early withdrawal penalties through Raisin.

What to look out for: Raisin doesn’t offer checking accounts, so it’s not a great choice if you want to do all your banking with the same company.

Old Point National Bank 6 Month CD Special

Why it stands out: If you live in the state of Virginia, Old Point National Bank is an excellent option for competitive CD rates. The local financial institution has a 6-month CD special that is offering 6.02% APY. 

Term options: Old Point National Bank has CD specials ranging from 6 months to 58 months.

Penalties: The 6-month CD Special has an early withdrawal penalty of 90 days of interest. You’ll have to call your nearest Old Point National Bank for more penalty information on other CD terms.

Keep an eye out for: To open a CD special, you’ll have to visit an Old Point National Bank branch. The bank only has branches in the state of Virginia. Something else to keep in mind is that you’ll need new money to open the account. New money means funds that haven’t already been deposited into an Old Point National Bank account.

NASA Federal Credit Union Share Certificate

Why it stands out: NASA Federal Credit Union pays high certificate rates overall, but especially on its 9-month and 15-month terms. As with any credit union, you do need to become a member to be eligible for an account — but NASA FCU makes it especially easy to join. The credit union will provide a complimentary 1-year membership to the National Space Society, which makes you eligible to join.

Term options: Terms range from 6 months to 5 years.

Penalties: NASA FCU has standard-to-high early withdrawal penalties, as follows:

• 182 days of dividends on terms of 24 months or less
• 365 days of dividends on terms longer than 24 months

Keep an eye out for: NASA FCU has different minimum opening deposits depending on the term length. For its highest-rate terms of nine and 15 months, you’ll need at least $10,000. Like most credit unions, it compounds interest monthly rather than daily. Depending on how much you have in your account, this could make a significant difference on how much you earn.

CFG Bank CD

Why it stands out: CFG Bank pays higher interest rates on 1-year, 18-month, 3-year, and 5-year CDs than what you would earn at many brick-and-mortar or online banks.

Term options: Terms range from 1 year to 5 years.

Penalties: CFG Bank charges standard-to-low penalties for early withdrawals of your principal balance, as follows:

• 90 days of interest for terms of 1 year
• 180 days of interest for terms longer than 1 year

Keep an eye out for: There are only a few terms to choose from. CFG Bank only has 1-year, 18-month, 3-year, and 5-year CDs.

Bread Savings High-Yield CD

Why it stands out: Bread Savings CDs stand out for their competitive interest rates on 2-year and 4-year terms.

Term options: Terms range from 1 year to 5 years.

Penalties: Bread Savings charges standard penalties for early withdrawals of your principal balance, as follows:

• 90 days of interest for terms under 12 months
• 180 days of  interest for terms between 12 months and 36 months
• 365 days of interest for terms between 48 months and 60 months

Keep an eye out for: The minimum opening deposit for Bread Savings CDs is $1,500. Other banks have lower minimum opening deposits.

Quorum Federal Credit Union Term Savings

Why it stands out: Quorum Federal Credit Union has a high interest rate on term accounts (which is another name for a certificate). The 3-year term offers the most competitive interest rates. 

Term options: Terms range from 3 months to 5 years.

Penalties: At Quorum Federal Credit Union the early withdrawal penalty is as follows:

• For terms between 2 months and 11 months, 1% of the amount withdrawn
• For terms between 12 months and 24 months, 2% of the amount withdrawn
• For terms over 25 months, 3% of the amount withdrawn

Keep an eye out for: You must become a member to open a bank account at Quorum. To become a member, you or a family member have to work for a Select Employee Group on this list, or you must join the American Consumer Council or Select Savers Club.

Crescent Bank CD

Why it stands out: Crescent Bank has online CDs with competitive interest rates. You might like this bank if you’re searching for terms ranging from 1 year to 5 years.

Term options: Online CDs range from 12 months to 5 years.

Penalties: The early withdrawal penalties for Crescent Bank CDs are as follows:

• 90 days interest for a 1-year CD term
• 180 days interest for all other CD terms

Keep an eye out for: To open the Crescent Bank CD, you’ll need to deposit new money. New money means funds that haven’t already been deposited into a Crescent Bank account.

Popular Direct CD

Why it stands out: Popular Direct pays some of the highest rates in in the industry right now, and it compounds interest daily.

Term options: Terms range from 3 months to 5 years.

Penalties: Popular Direct charges standard-to-high early withdrawal penalties, as follows:

• 89 days of simple interest for terms under 91 days
• 120 days of simple interest for terms of 91 days to under 12 months
• 270 days of simple interest for terms of 12 months to under 36 months
• 365 days of simple interest for terms of 36 months to under 60 months
• 720 days of simple interest for terms of 60 months or longer

Keep an eye out for: You need $10,000 to open a Popular Direct CD. The bank also charges fairly high early withdrawal penalties, especially for longer terms.

Newtek Bank CD

Why it stands out: Newtek Bank has a variety of CDs with competitive interest rates that anyone in the US can open. The 3-month term notably pays 4.60% APY.

Newtek Bank also offers business checking and savings accounts, as well as a personal high-yield savings account (although, you’ll need to sign up for a waitlist for this account because isn’t currently available to new customers).

Term options: Terms range from 1 month to 5 years.

Penalties:

• For terms between 30 days and less than 1 year, the penalty is 90 days of simple interest
• For terms of 1 year or more, the penalty is 180 days of simple interest
  

What to look out for: Newtek Bank CDs require a minimum opening deposit of $2,500, which is higher than other banks.

Alliant Certificate

Why it stands out: Alliant Credit Union is a strong choice if you would rather be part of a credit union than a bank. Alliant certificates offer competitive interest rates, particularly for 3-month and 18-month terms.

Term options: Certificate terms range from 3 months to 5 years.

Penalties: The early withdrawal penalties are as follows:

• 90 days of interest for terms of 17 months or less
• 120 days of interest for terms between 18 months and 23 months
• 180 days of interest for terms 2 years and over

Keep an eye out for: Credit unions require you to become a member to open accounts. The easiest way to become a member is to join Foster Care to Success, and Alliant will cover your $5 joining fee.

America First Credit Union Certificate

Why it stands out: America First Credit Union has a high interest rate on a variety of certificates.

America First Credit Union has a unique flexible certificate that might be worth considering if you’re worried about early withdrawal penalties. The America First Flexible Certificate Account lets you continue depositing money into your CD after you’ve opened it, up to $10,000 per month. Many banks make you take out all your funds if you need to make an early withdrawal, but America First lets you make partial withdrawals.

Term options: Terms for regular CDs range from 3 months to 5 years. The America First Flexible CD is only available in a 12-month term.

Penalties: If you get an America First Flexible Certificate Account, you are permitted to make one free withdrawal per quarter.

The following early withdrawal penalty may apply to all America First certificate accounts:

• For terms of 1 year or less, the penalty is 60 days of interest
• For terms over 1 year, the penalty is 180 days of interest

Keep an eye out for: Like most credit unions, America First compounds your interest monthly rather than daily, which will limit how much you earn over time.

Vio Bank CD

Why it stands out: Vio Bank has competitive interest rates on short-term CDs. You might like this bank in particular if you’re interested in a 6-month term.

Term options: Vio Bank CDs range from 6 months to 120 months.

Penalties: Here are the early withdrawal penalties for Vio Bank CDs:

• 1% of the amount withdrawn, plus $25 for terms between 32 days and 12 months
• 3% of the amount withdrawn, plus $25 for terms greater than 12 months

What to look out for: Vio Bank has high early withdrawal penalties. Also, Vio doesn’t have a checking account. If you want to open a checking account with the same financial institution, you might prefer one of our other top picks.

Bank5 Connect High-Yield CD

Why it stands out: Bank5 Connect is the online operation of Bank5. You might like this institution if you’re searching for a competitive interest rate on a 6-month CD. Bank5 Connect CDs also have a low minimum opening deposit of $500.

Term options: CD terms range from 6 months to 2 years. 

Penalties: The early withdrawal penalties are as follows:

• 3 months of interest for terms less than one year
• 6 months of interest for terms of one year or more

What to look out for: You may open a Bank5 account as long as you’re age 18 or older and live in any state other than Massachusetts or Rhode Island. 

Bask Bank CD

Why it stands out: Bask Bank is good option if you’d like to earn a competitive interest rate on a 6-month CD. Bask Bank also has two notable savings accounts — one offers a competitive interest rate, and the other lets you earn American Airlines AAdvantage miles for money you’ve saved annually in the account.

Term options: Terms range from 6 months to 2 years.

Penalties: The early withdrawal penalties are as follows:

• 90 days of interest for terms 1 year or less
• 180 days of interest for terms greater than 1 year

What to look out for: Bask Bank has limited CD terms. If you’re looking to open a CD with a term over 2 years, you might prefer another institution. 

BrioDirect High-Yield CD

Why it stands out: BrioDirect CDs have a $500 minimum opening deposit. The 12-month CD also notably pays 5.35% APY. 

Term options: CD terms range from 30 days to 5 years. 

Penalties: BrioDirect charges standard penalties for early withdrawals of your principal balance, as follows:

• For CD terms of 30 days or less, the penalty is 1 month of interest
• For CD terms between 3 months and 1 year, the penalty is 3 months of interest
• For CD terms of 18 months or more but less than 5 years, the penalty is 9 months of interest
• For CD terms of 5 years or more, the penalty is 1 year of interest.

Keep an eye out for: BrioDirect currently isn’t offering savings, checking, or money market accounts. You’ll have to look elsewhere for these types of accounts.

CIBC Agility CD

Why it stands out: CIBC Bank USA, the US division of the Toronto-based bank Canadian Imperial Bank of Commerce, has competitive CD rates on 1-year and 18-month terms.

Term options: Agility CD terms range from 9 months to 30 months

Penalties: If you withdraw money from a CD before it reaches maturity, CIBC Bank USA may charge a 30-day interest penalty.

Keep an eye out for: CIBC Bank USA has an online savings account and CDs that you can open anywhere in the US. To open a checking account or money market account in the US, you must live in a state that has a banking center. Banking centers are only located in Illinois, Michigan, Missouri, and Wisconsin. 

Delta Community Credit Union CD

Why it stands out: Delta Community Credit Union offers a high interest rate on a 2-year term and has standard-to-low early withdrawal penalties.

Term options: Terms range from 6 months to 5 years.

Penalties: Delta Community Credit Union charges standard-to-low penalties for early withdrawals of your principal balance, as follows:

• 60 days of interest for a 6-month term
• 90 days of interest for a 12-month term
• 180 days of interest for a 24 or 36-month term
• 270 days of interest for a 60-month term

Keep an eye out for: You must qualify for membership to open a bank account at Delta Community Credit Union. You are eligible for membership if you live or work in an eligible county in Georgia; are an employee/former employee/retiree of dozens of businesses, or a member of several associations; you have a family member that is eligible for membership; or you are a non-US citizen working full-time for Delta Air Lines and live in one of several foreign countries (you may only open a savings account as a non-US citizen in a foreign country, though).

Signature Federal Credit Union Certificate

Why it stands out: Signature Federal Credit Union is another solid choice if you prioritize banking with a credit union. The Signature Federal Credit Union Certificate has a $500 minimum opening deposit. The 6-month term has the highest rate right now.

Term options: Terms range from 3 months to 5 years.

Penalties: Signature Federal Credit Union charges standard penalties for early withdrawals of your principal balance, as follows:

• 45 days of interest for a 3-month term
• 90 days of interest for a 6-month term
• 135 day of interest for a 9-month term
• 180 days of interest for terms of 12 months and 4 years
• 365 days of interest for a 5-year term

Keep an eye out for: Credit unions require membership to open an account. The easiest way to become a member of Signature FCU is to enroll in the American Consumer Council. Then you’ll just need to open a savings account.

First Internet Bank of Indiana CD

Why it stands out: First Internet Bank of Indiana pays high interest rates, and it has a variety of terms to choose from.

Term options: Terms range from 3 months to 5 years.

Penalties: First Internet Bank of Indiana charges standard-to-high penalties for early withdrawals of your principal balance, as follows:

• 90 days of interest for terms of 3 months
• 180 days of interest for terms between 6 months and 18 months
• 360 days of interest for terms between 24 months and 60 months

Keep an eye out for: First Internet Bank of Indiana compounds your interest monthly, not daily. Depending on how much money is in your CD, this may or may not make a significant difference.

The early withdrawal penalties may also be steep compared to other financial institutions. 

First National Bank of America CD

Why it stands out: First National Bank of America lets you open CDs online from anywhere in the US. The bank offers high CD rates for 4-year and 5-year terms.

Term options: Terms range from 1 year to 7 years.

Penalties: First National Bank of America charges high penalties for early withdrawals of your principal balance, as follows:

• 90 days of interest for terms under 1 year
• 180 days of interest for terms between 1 year and 23 months
• 360 days of interest for terms between 2 years and 47 months
• 540 days of interest for terms of 48 months or more

Keep an eye out for: First National Bank of America has steep early withdrawal penalties for most terms. You might prefer one of the other options on our list if you are worried about taking out money before your term ends.

Technology Credit Union 5 Month No Penalty CD, powered by Raisin

Why it stands out: This is another CD available through digital marketplace Raisin. Technology Credit Union pays a great rate on a no-penalty CD, and you only need $1 to open the account.

Term options: Raisin offers multiple term lengths, both through Technology CU and other partner institutions.

Penalties: This is a no-penalty CD, so there are no early withdrawal penalties.

Keep an eye out for: Raisin might not be the best choice if you want to do all your banking with one company, because it doesn’t offer checking accounts. You also need to be comfortable with an online-only experience.

CIT Bank Term CD

Why it stands out: CIT Bank has regular CDs, jumbo CDs, and one no-penalty CD. CIT Bank Term CD rates vary depending on the term you choose. 

CIT Bank pays a competitive rate on its no-penalty CD (a CD that doesn’t charge any early withdrawal penalties).

Term options: CD terms range from 6 months to 5 years. CIT Bank has one 11-month no-penalty CD.

Penalties: If you open a No-Penalty CD, there are no early withdrawal penalties.

There are early withdrawal penalties for CIT Bank Term CDs, though. CIT Bank charges standard penalties for early withdrawals of your principal balance, as follows:

• For CD terms of 1 year or less, the penalty is three months of simple interest
• For CD terms between 1 year and 3 years, the penalty is six months of simple interest
• For CD terms longer than 3 years, the penalty is one year of simple interest

Keep an eye out for: You’ll need a minimum of $1,000 to open any CIT Bank CD. Other banks have lower minimum opening requirements.

Synchrony CD

Why it stands out: Synchrony offers a variety of term length options, including 13-month, 14-month, and 15-month CDs. 

Term options: Terms range from 3 months to 5 years.

Penalties: Synchrony’s early withdrawal penalty rules are pretty standard, as follows:

• 90 days interest penalty for a term of 12 months or less
• 180 days interest penalty for a term over 12 months but under 48 months
• 365 days interest for a term of 48 months or more

Penalties: You’ll want to consider whether you have a preference on how you’ll withdraw money from a CD. When you’re ready to cash out your CD, you must call Synchrony. Some other banks will let you cash out your CD through online banking.

Ally High Yield CD

Why it stands out: Ally has more options for CDs than any other online bank, including a no-penalty CD and a variable-rate CD.

Term options: Ally offers a total of 11 different CD term lengths ranging from 3 months to 5 years.

Penalties: Ally charges standard penalties for early withdrawals of your principal balance, as follows:

• 60 days interest penalty for a CD term of 24 months or less
• 90 days interest penalty for a CD term of 25 months to 36 months
• 120 days interest penalty for a CD term of 37 months to 48 months
• 150 days interest penalty for a CD term of 49 months or more

Keep an eye out for: Ally offers three types of CDs: High Yield CDs, Raise Your Rate CDs, and No Penalty CDs.

Unlike regular High Yield CDs, Raise Your Rate accounts offer 2-year and 4-year terms. APYs on these accounts start lower than High Yield CDs rates, but you can increase your APR once over 2 years or twice over 4 years.

No Penalty CDs do not penalize you for early withdrawal, but the only term available is 11 months.

Barclays Online CD

Why it stands out: Barclays is one of the few banks that doesn’t have a required minimum deposit for CDs. Its early withdrawal penalties are also lower than what you’ll pay with many institutions.

Term options: Term lengths range from 3 months to 5 years.

Penalties: Barclays has standard early withdrawal penalty terms, as follows:

• 90 days interest penalty for a term of 24 months or less
• 180 days interest penalty for a term over 24 months

Keep an eye out for: The Barclays app has good ratings in the Google Play store, but not in the Apple store.

American Express® CD

Why it stands out: American Express doesn’t have a minimum opening deposit requirement. Most banks and credit unions require at least $1,000 for an initial deposit on a CD.

Term options: American Express has CD terms ranging from 6 months to 5 years.

Penalties: The early withdrawal penalties are as follows:

• 90 days interest penalty for a term under 12 months
• 270 days interest penalty for a term between 12 and 47 months
• 365 days interest penalty for a term between 48 and 59 months
• 540 days interest penalty for a term of 60 months or more

Keep an eye out for: American Express’ fees for withdrawing funds before the CD maturity date are higher than most. If you’re worried about early withdrawal penalties, you may want to consider one of the other options from our list.

Consumers Credit Union CD

Why it stands out: Consumers Credit Union lets you open certificates with as little as $250. The 10-month term offers the most competitive interest rates. You can earn 5.00% APY with at least $250, 5.15% APY with balances of $100,000 to $249,999.99, and 5.25% APY on balances of $250,000 or more. 

Term options: Terms range from 6 months to 5 years.

Penalties: Consumers Credit Union charges standard-to-low penalties for withdrawals of your principal balance, as follows:

• 60 days of interest for terms of 1 year or less
• 120 days of interest for terms over a year

Keep an eye out for: To become a member, you’ll have to pay a one-time membership fee and open the Consumers Credit Union Membership Share Savings Account with at least $5.

Connexus Credit Union Share Certificate

Why it stands out: Connexus has a 15-month CD special that pays 5.25% APY.

Term options: Connexus has terms ranging from 1 year to 5 years.

Penalties: The following early withdrawal penalties may apply to Connexus Share Certificates:

• 90 days of interest for terms of 1 year or less
• 180 days of interest for terms that are longer than 1 year but shorter than 5 years
• 365 days of interest for terms of 5 years

Keep an eye out for: Connexus Share Certificates have a $5,000 minimum opening deposit. Other banks may require less upfront.

Rising Bank CD

Why it stands out: Rising Bank offers a high interest rate on a 15-month term.

Term options: Terms range from 6 months to 3 years. 

Penalties: The following early withdrawal penalties may apply to Rising Bank CDs:

• 90 days of interest for a term between 6 months and 1 year
• 180 days of interest for terms 15 months or longer

Keep an eye out for: At Rising Bank, interest is compounded and deposited every three months, while other institutions may compound monthly or even daily. Depending on how much you deposit into a CD, this may or may not make a significant difference.

Alternative CD Options

We looked at the following CDs as well. While these ultimately weren’t selected as our top picks, you might find some of these options appealing depending on your preferences.

• Bask Bank CD: Bask Bank has good CD rates for terms between 6 months and 2 years, but our top picks have even more competitive rates right now.  
• Salem Five Direct High-Yield CD: Salem Five Direct has competitive interest rates on short-term CDs, but they aren’t quite as high as what you’ll earn with our top picks.
• Limelight Bank Online CD: Limelight’s rates are competitive, but other institutions pay higher rates right now.
• Chase CD: Chase offers solid interest rates on a 3-month and 12-month term if you qualify for relationship rates by having a Chase checking account. If you don’t qualify for a relationship rate, other financial institutions will likely offer much more competitive CD rates.
• Marcus No-Penalty CD: Marcus pays a high rate on its 13-month no-penalty CD, but not quite as high as what you’ll earn with no-penalty CDs at some other institutions.
• TIAA Bank Basic CD: TIAA pays a relatively high 3-month CD rate, but you can earn better rates elsewhere.
• Air Force Federal Credit Union Certificate Account: Air Force Federal Credit Union has a variety of CDs, but its rates have recently dropped and are lower than our top picks.
• Capital One 360 CD: Capital One 360 lets you open a CD with $0, but its rates have recently dropped and are lower than our top picks.
• Pentagon Federal Credit Union Money Market Certificate: PenFed offers solid interest rates on CDs, but our top picks have even more competitive CD rates right now.
• Pure Point Financial CD: Pure Point’s rates are solid, but its $10,000 minimum deposit could be a major drawback for more modest savers.
• USAA Bank CD: USAA Bank offers a wide range of CD options for military members and families, but rates are mediocre and you’ll need at least $1,000 to open an account.
• NBKC CD : NBKC pays good rates. But unlike most CDs, NBKC CDs pay variable rates, so rates can go up or down after you’ve opened the account.
• Bethpage Federal Credit Union Certificate Account: Bethpage CDs have a low minimum opening deposit but our top picks offer more competitive interest rates.
• Charles Schwab Bank CD: Charles Schwab has brokered CDs, meaning Charles Schwab doesn’t actually own the CD. Instead, Charles Schwab acts as the middleman for you and the bank that owns the CD. Depending on how you bank, you may prefer open a CD directly with the financial institution.

Sophia Acevedo, CEPF

Banking Reporter

Evelyn He

Compliance Associate

Evelyn He is a compliance associate at Insider who supports the Personal Finance Insider team. Personal Finance Insider is Insider’s personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money that Insider readers already know and love.
The compliance team’s mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.
Before joining Insider, she served in various legal and compliance roles in different industries, including the legal and pharmaceutical industries.   
Evelyn obtained her M.S. degree in Marketing at Boston University in 2022. Prior to combining and consolidating her knowledge of law and business, she spent one year finishing 1L courses at Suffolk University Law School to further her legal knowledge. She has also completed MBA business law courses while working on her Bachelor of Business Administration in Management at the University of Massachusetts, Amherst. 
Outside of work, she enjoys spending time with her 14-year-old Shih Tzu named Money, and her 4-year-old Bichon named Tibber.

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