Marcus by Goldman Sachs: 6 months – 6 years, 0.15% APY – 0.65% APY; $500 minimum deposit to open. Synchrony Bank: 3 months – 5 years, 0.15% APY – 0.80% APY; no minimum deposit needed to open. Barclays Bank: 3 months – 5 years, 0.10% APY – 0.25% APY; no minimum deposit needed to open.
Our guide to the highest CD rates available to anyone in the U.S.
| BEST NATIONAL CDs | ||
|---|---|---|
| Evansville Teachers Federal Credit Union | 1.15% APY | 72 months |
| First National Bank of America | 1.15% APY | 84 months |
| First National Bank of America | 1.10% APY | 72 months |
| Apple Federal Credit Union | 0.95% APY | 84 months |
Online CD rates went down in 2020, but they probably won't decrease much more in 2021, because they need to pay higher rates to compete with large banks like Chase or Bank of America. The Fed has announced it expects the federal funds rate to stay at rock bottom until at least 2023.
What To Consider Before Investing In CDs in 2020. CDs are beneficial for those who have an excess amount of savings and want to invest in something low-risk. CDs have been around since the early periods of banking, and other investment options have come into existence since then.
Best 3-Year CD Rates:
NerdWallet's Best 1-Year CD Rates May 2021
Certificates of deposit, or CDs, are a type of FDIC-insured savings account with a fixed interest rate and term. ... For people considering putting money into CDs, now is a particularly good time, thanks to relatively high interest rates.
Summary of Best 1-year CD rates for May 2021
Best CD rates of May 2021
Synchrony Bank: 3 months – 5 years, 0.15% APY – 0.80% APY; no minimum deposit needed to open. Barclays Bank: 3 months – 5 years, 0.10% APY – 0.25% APY; no minimum deposit needed to open. Comenity Direct: 1 year – 5 years, 0.63% APY – 0.90% APY; $1,500 minimum deposit to open.
The highest CD rates in modern history are decades behind us — around the start of the 1980s. A three-month CD in December 1980 earned 18.65%, according to data from the Federal Reserve Bank of St. Louis.
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