What Are the Top 10 CD Rates Offered by Banks?

What Are the Top 10 CD Rates Offered by Banks?

When it comes to investing your money, one option to consider is a certificate of deposit (CD). CDs are a low-risk investment that offer a guaranteed rate of return over a set period of time. Banks offer a variety of CD options, each with different rates and terms. In this article, we will highlight the top 10 CD rates currently being offered by banks.

1. Marcus by Goldman Sachs: 0.60% APY for a 6-month CD

Marcus by Goldman Sachs is currently offering a 0.60% annual percentage yield (APY) for a 6-month CD. This rate is higher than many other banks and is a great option for those looking for a short-term investment.

2. Ally Bank: 0.55% APY for a 6-month CD

Ally Bank is another great option for a 6-month CD, with a 0.55% APY. Ally Bank is known for its competitive rates and high customer satisfaction.

3. Discover Bank: 0.50% APY for a 6-month CD

Discover Bank offers a 0.50% APY for a 6-month CD, making it a solid choice for a short-term investment. Discover Bank also offers a variety of CD terms ranging from 3 months to 10 years.

4. Capital One: 0.50% APY for a 6-month CD

Capital One is currently offering a 0.50% APY for a 6-month CD. Capital One is a large, well-known bank with a strong reputation for customer service.

5. Synchrony Bank: 0.50% APY for a 6-month CD

Synchrony Bank is offering a 0.50% APY for a 6-month CD. Synchrony Bank is known for its high rates and low fees.

6. Barclays Bank: 0.40% APY for a 6-month CD

Barclays Bank is currently offering a 0.40% APY for a 6-month CD. While this rate may not be the highest on the list, Barclays is a reputable bank with a long history in the industry.

7. CIT Bank: 0.45% APY for a 6-month CD

CIT Bank is offering a 0.45% APY for a 6-month CD. CIT Bank is known for its competitive rates and online banking options.

8. American Express National Bank: 0.40% APY for a 6-month CD

American Express National Bank is offering a 0.40% APY for a 6-month CD. While the rate may not be the highest on the list, American Express is a well-known brand with a strong reputation.

9. Navy Federal Credit Union: 0.35% APY for a 6-month CD

Navy Federal Credit Union is offering a 0.35% APY for a 6-month CD. While this rate may not be as high as some of the other banks on the list, Navy Federal Credit Union is a great option for those who are eligible for membership.

10. Wells Fargo: 0.05% - 0.10% APY for a 6-month CD

Wells Fargo is offering a range of rates for a 6-month CD, depending on the amount deposited and the account holder's relationship with the bank. While the rates may not be as high as some of the other banks on the list, Wells Fargo is a well-known bank with a large network of branches.

Investing in a CD can be a great way to earn a guaranteed rate of return on your money. When choosing a CD, it's important to consider the interest rate, the term length, and any penalties for early withdrawal. By comparing rates and terms from different banks, you can find the best CD to meet your investment needs.