Best CD Rates and Certificate of Deposit Accounts

A certificate of deposit (CD) is a deposit account that works much like a savings account, with a few exceptions. In fact, taking advantage of current CD rates with a certificate of deposit account can help you grow your savings faster, while keeping funds safe and secure.

The best CD rates tend to be higher than savings rates in order to provide incentive for account holders to keep their money on deposit longer. While you can usually withdraw your money from a savings account whenever you want, certificates of deposit require you to agree to a fixed term – anywhere from six months to several years – during which you aren't supposed to withdraw your money. In return for agreeing to the term, you are rewarded with the best CD rates. Certificate of deposit rates can vary widely, from practically nothing at all to highly competitive. Learn more about how to choose the right CD to meet your financial goals.

Different certificate of deposit terms will be associated with different CD interest rates, so it's important to know what type of CD account suits you best before you begin to compare CD rates.

Generally, the most popular CD interest rates are 6-month CD rates, 12-month CD rates, 2-year CD rates and 5-year CD rates. The current CD rate on a 2-year CD will almost always be higher than that on a six-month CD. However, it’s important to note that the highest CD rates aren’t always the best interest rates on certificate of deposits. Additionally, if you have an exceptionally large amount of money you want to invest in a high interest CD, you may be able to take advantage of jumbo CD rates, which tend to be slightly higher than regular bank or credit union CD rates.

We developed our CD interest rates table, which collects CD interest rates from local, national and online financial institutions across the nation, making the best CD rates easy to find no matter where you live.

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Choosing the Best Online CD Rates

Liquidity is something you should keep in mind when choosing a CD account, because withdrawing from bank CDs early usually results in a penalty of some or all of the interest earned. Picking highest CD rates within the term that best meets your needs will be the best choice. Here is a list of the best online CD Rates of 2014. If you are looking for the best banks for CD accounts, we reviewed the best CD accounts of 2015 to help you decide which account is the best for you.