A Comparison of the 10 Best CD Rates of 2018

A certificate of deposit (CD) is a time deposit that is quite similar to a savings account. It helps you earn interest and carries minimal risk. CDs are available in various denominations and have a fixed maturity period and a fixed interest rate. It is best to compare the CD rates before you decide to choose a particular bank. Given below are the 10 best CD rates of 2018.

Marcus by Goldman Sachs®
Marcus by Goldman Sachs® is an online portal that handles several banking products.

A Comparison of the 10 Best CD Rates of 2018
It has a one-year CD, which earns an annual percentage yield (APY) of 2.55% and a five-year CD which gives an APY of 3.10%. The minimum deposit required is $500.

Citizens Access
This is an online-only service by Citizens Bank. It offers a one-year CD at an APY of 2.50% and a five-year CD at 3.10% with a deposit of at least $5,000.

Capital One 360
For a one-year CD, Capital One offers an APY of 2.50% and for a five-year CD, it gives an APY of 3%. The biggest advantage of it is that it has no minimum deposit requirement.

Synchrony Bank
This is an online bank that has a one-year CD with an APY of 2.45% and a five-year option at 3%. It has a minimum deposit requirement of $2000.

PenFed Credit Union
This credit union offers competitive interest rates and has a minimum deposit requirement of $1000. The APY for a one-year is 2.45% and for five years, the CD rate stands at 3%.

Barclays
The bank has a one-year CD at an APY of 2.45% and an online-only five-year option at 3%. Barclays does not have any minimum deposit requirement.

Teachers Insurance and Annuity Association of America (TIAA) Bank
Rated as one of the top 10 best CD rates, TIAA bank has a five-year CD with an APY of 3.05% and a one-year CD with an APY of 1.65%. It has a minimum deposit requirement of $5000.

Connexus Credit Union
The CD rates of Connexus are 2.50% for one year and 3.25% for five years. It has a minimum deposit requirement of $5000.

Ally
One of the top Internet-only banks, Ally offers a CD rate of 2.25% for one year and 2.75% for five years. If you deposit a higher amount, you may earn a higher APY.

CIT Bank
The bank has a minimum deposit requirement of $1000 and a one-year CD lets you earn an APY of 2.20%.

Before you invest in a CD, compare the rates to make a wise choice. The CD rates of the above-mentioned banks and credit unions are subject to change, however, the current rates show that it is better to opt for a one-year CD instead of a five-year CD, considering its higher rate and high liquidity.

Disclaimer:
The information available on this website is a compilation of research, available data, expert advice, and statistics. However, the information in the articles may vary depending on what specific individuals or financial institutions will have to offer. The information on the website may not remain relevant due to changing financial scenarios; and so, we would like to inform readers that we are not accountable for varying opinions or inaccuracies. The ideas and suggestions covered on the website are solely those of the website teams, and it is recommended that advice from a financial professional be considered before making any decisions.
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