10 Best CD Accounts of 2017

If you want the best CD rates available, pick from this list.

The best CD account providers in the U.S. offer a combination of the top CD rates and a range of CD options, from different term lengths to rate-increase features. GOBankingRates’ Best Banks of 2017 study identified the best CD accounts available in the U.S. Compare the top CD rates and offerings to find the ones that will help you achieve your savings goals.

GOBankingRates determined the top 10 CD account providers based on the following criteria:

  • Minimum deposit to open
  • 12-month CD APY
  • 60-month CD APY

All of these banks — some of which were also CD category finalists in 2016 — offer accounts with top CD interest rates that are higher than the national average. The national average CD account rate on 12-month CDs is just 0.22% APY; on 60-month CDs, the average is 0.78% APY, as of Dec. 5, 2016. Bank interest rates can change throughout the year, but you can use this list as your guide to get great savings rates and CD account options.

Here are the best CD accounts of 2017:

BankAccountMin. Deposit
to Open
everbank logoEverBank Basic CD$1,0001.95%2.55%
synchrony bank logoSynchrony Bank CD$2,0002.65%3.10%
sallie mae bank logoSallie Mae Bank CD$2,5001.25%1.80%
first internet bankFirst Internet Bank CD$1,0001.21%2.07%
Barclays Bank Delaware CD$02.55%3.10%
cit bank logoCIT Bank CD$1,0002.20%1.70%
Discover Bank CD$2,5001.15%1.76%
ally bank logoAlly Bank High-Yield CD$02.65%3.10%
alostar bank of commerceAloStar Bank of Commerce CD$1,0001.05%1.61%
nationwide bank logoNationwide BankCD$5001.86%2.51%

Learn: How CD Laddering Works

10 Best CD Accounts of 2017

By looking at the range of products and services the best banks in the U.S. offer, you can assess whether you’re getting what you need from your bank. You might even find that it’s time to try new banking options.

Click on a link to learn more about each of the top 10 best CD accounts in the country, featuring some of the highest CD rates of 2017:

  • EverBank
  • Synchrony Bank
  • Sallie Mae Bank
  • First Internet Bank
  • Barclays Bank Delaware
  • CIT Bank
  • Discover Bank
  • Ally Bank
  • AloStar Bank of Commerce
  • Nationwide Bank

Winner: EverBank

Why: EverBank earned the top spot because it offers some of the best bank CD rates on 12-month and 60-month CDs. As of today, the 12-month CD rate is 1.95%.

Review: Other products include the Yield Pledge CD, which requires a minimum opening deposit of $5,000 and a 3.5-year Bump Rate CD that allows you to request a one-time rate bump to lock in a higher level of earnings if it’s available.

How to open: You can apply online providing your address, Social Security number, date of birth, employment status and mother’s maiden name.

Banks That Rounded Out the Top 10

Finalists in the CD category offer the best CD rates of 2017 and best account options. The range of CDs on the list can meet the needs of passive and aggressive savers.

Synchrony Bank

Why: Synchrony Bank offers appealing CD interest rates, but its minimum deposit requirement of $2,000 for its high-yield CD is high compared with other banks’ requirements. Synchrony tied with Sallie Mae for the best CD interest rate on a 12-month CD.

Review: Synchrony Bank has a high minimum deposit requirement, but its high-interest CD rates can help your money grow. Plus, rates increase as your deposit increases. For example, the APY on the 60-month CD climbs to 1.85% APY on deposits of $25,000 or more.

How to open: You can open an account online if you’re a U.S. citizen or permanent resident and are at least 18 years old. You’ll need to provide personal information in addition to bank account information to transfer funds to the bank.

See: Best Savings Account of 2017: Synchrony Bank

Sallie Mae Bank

Why: Sallie Mae Bank offers some of the highest CD rates on the list but has a high minimum deposit of $2,500.

Review: Sallie Mae Bank offers a 1.25% APY on its 12-month CD and 1.80% APY on its 60-month CD. The $2,500 minimum deposit requirement is one of the highest required by banks on this list, and the bank has a limited CD offering with 12-, 36- and 60-month terms.

How to open: You can open an account online by providing personal information, including your Social Security number and date of birth. You must also include your bank information to transfer funds to your new account.

First Internet Bank

Why: At 2.07% APY, First Internet Bank offers one of the highest interest rates on a 60-month CD on this list. The 12-month CD APY, however, is less competitive.

Review: If you’re willing to keep your money tied up for a while to earn a higher yield, First Internet Bank offers an attractive 2.07% APY on its 60-month CD. The 1.21% APY on the 12-month CD is competitive, but it’s not the highest available.

How to open: You can open an account online. You’ll need to provide your personal information, including your address and date of birth.

Barclays Bank Delaware

Why: Barclays Bank Delaware offers good CD rates and has no minimum deposit requirement.

Review: These CDs offer interest that compounds daily, no hidden monthly fees or minimum balances and easy fund transfers.

How to open: You can open an account online. You’ll need to provide personal information, including your Social Security number and your bank account information to transfer your opening deposit.

CIT Bank

Why: CIT Bank has a variety of CD products and competitive rates on its 12- and 60-month CDs.

Review: CIT offers term, RampUp and jumbo CDs with a selection of terms to meet your needs. The CDs’ daily compounding interest helps you maximize your earning potential.

How to open: You can apply online if you are a U.S. citizen or resident alien, are 18 years of age, have a U.S. address, a Social Security number and a driver’s license or state-issued ID.

Discover Bank

Why: Discover Bank offers competitive CD yields but also has a higher minimum deposit requirement of $2,500.

Review: Discover Bank 12-month CD has an attractive 1.15% APY, and its 5-year CD currently offers a competitive 1.76% APY. The bank also offers a large range of CD terms from three months to 10 years.

How to open: You can open an account online by providing contact information and your Social Security number. You can fund your account by mailing a check or transferring funds electronically.

Ally Bank

Why: Ally Bank has mid to high CD rates and doesn’t require a minimum deposit.

Review: Ally’s High Yield, Raise Your Rate and No-Penalty CDs offer interest compounded daily, a 10-day best-rate guarantee and automatic renewal at maturity. If you open a five-year, High Yield CD you will earn 3.10% APY. Its 12-month CD earns 2.65% APY.

How to open: You can open an account online. You’ll need to provide personal information, including your date of birth and Social Security number.

AloStar Bank of Commerce

Why: AloStar Bank of Commerce features competitive rates on its CD products, and although it’s an online-only bank, it offers live customer service over the phone.

Review: AloStar requires a minimum deposit of $1,000, but it offers a broad range of CD terms from 90 days to 60 months.

How to open: You can open an account online. You’ll need your Social Security number, government-issued ID and bank account information to fund your new account.

Nationwide Bank

Why: Nationwide Bank has a low requirement for a minimum deposit, making it attractive for those who don’t have a lot to plunk down for a CD account but want to reap the benefits of having one.

Review: Nationwide Bank offers a rather low 1.86% APY on its 12-month CD for balances of $99,999.99 and under, but that rate climbs to 1.91% APY for balances of $100,000 and up. Account holders with at least $100,000 in their 60-month CD can earn 2.56% APY.

How to open: You can open an account online on the Nationwide site by providing personal information, including your date of birth, Social Security number and contact information.

Find Out: 10 CD Savings Strategies for Homebuyers

Ally Bank, Barclays Bank Delaware, CIT Bank and Synchrony rates accurate as of today. All other rates accurate as of Oct. 26, 2016.

Methodology: To compile its list of the top 100 banks, GOBankingRates surveyed the FDIC’s list of banks sorted by asset size, excluding non-active institutions, investment banks and any institutions that require customers to use investment services to access commercial bank accounts. This list of 100 banks includes 72 brick-and-mortar banks and 28 online-only banks according to the GOBankingRates database. No asset threshold was consulted for online-only banks.

Criteria for ranking: To determine its Best CD Accounts category ranking, GOBankingRates evaluated each institution’s 12-month certificate of deposit product and five-year CD product. If the bank did not offer a 12-month or five-year CD, then the next-closest CD term length was selected for evaluation. GOBankingRates scored the CD accounts from most to least favorable on the following factors: (1) minimum deposit to open a CD, (2) annual percentage yield for a 12-month CD and (3) APY for a five-year CD. APY for a 12-month CD and APY for a five-year CD were weighted more heavily than other ranking factors, and accounts were then ranked by overall score.

Data was compiled from and verified against the individual institutions’ websites between Oct. 11 and Oct. 26, 2016. Rates, terms and conditions are subject to change at the discretion of the individual financial institutions. APY was based on the minimum deposit required to open the account. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met in order to obtain the interest rates listed. Rates and availability might vary by region. Please verify terms and conditions before opening an account.

GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack, Inc., an online marketing company serving top-tier banks, credit unions, and other financial services organizations. Some banks mentioned in the Best Banks of 2017 survey are clients of ConsumerTrack, Inc., which serves more than 100 national, local and online financial institutions. Rankings are completely objective, and no institution, client or otherwise, paid for inclusion or specific place


Nationwide, Nationwide Bank, the Nationwide N and Eagle and Nationwide is on your side are service marks of Nationwide Mutual Insurance Company. Member FDIC.