Personal finance

The Highest CD Rates Today: Sept. 19, 2022

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A certificate of deposit may be appealing if you’d like to earn extra money on your savings and you don’t need to access funds any time soon.

Our best CDs guide can be a great resource for learning about CDs and their various features. But if you prioritize finding a competitive CD rate above all else, this list is for you.

What are the interest rates for CDs today?

The most competitive institutions may offer 3-month CDs paying up to 1.75% APY or 5-year CDs up to 3.65% APY.

We’ve reviewed over a dozen financial institutions to keep up with the newest rate offerings. Our list includes CDs with much higher interest rates than the national average. Most of the institutions on our list are online banks and credit unions since they tend to offer high-yield CDs.

CDs usually have fixed interest rates. This means you’ll be locking in a rate for a specific period of time. If you need to take out money from a CD before it matures, you may have to pay an early withdrawal penalty. 

The Federal Reserve has also increased the federal funds rate several times since March, so savings interest rates are expected to steadily increase throughout 2022.

Average CD rates vs. highest CD rates

The FDIC keeps tabs on national rates for interest-earning bank accounts. For CDs, the average interest rate depends on the term you choose. You can use the table below to see how the most competitive CD rates compare to average CD rates.

Best CD interest rates

Some of the institutions on our list are also top picks in our best CD guides. If you’re looking for a specific CD term, consider reviewing these posts, too:

That said, if you’re comfortable with a high initial deposit or don’t mind limited terms options, the following four CD options also might be suitable contenders — even though they aren’t in our best-of guides.

Comparing the highest CD rates

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Editor’s rating

3.5/5

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Editor’s rating

3.75/5

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Editor’s rating

4/5

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A five pointed star

Editor’s rating

4/5

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

Editor’s rating

4/5

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

Editor’s rating

3.5/5

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

Editor’s rating

4.5/5

A five pointed star

A five pointed star

A five pointed star

A five pointed star

A five pointed star

Editor’s rating

3.75/5

A five pointed star

A five pointed star

A five pointed star

A five pointed star

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Learn more


On First National Bank of America’s website

 

Popular Direct Certificate of Deposit


Annual Percentage Yield (APY)

1.75% to 3.40% APY


Minimum Deposit Amount

$10,000

Popular Direct Popular Direct Certificate of Deposit

Popular Direct Certificate of Deposit


Annual Percentage Yield (APY)

1.75% to 3.40% APY


Minimum Deposit Amount

$10,000

On Popular Direct’s website


Annual Percentage Yield (APY)

1.75% to 3.40% APY


Minimum Deposit Amount

$10,000

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While the Popular Direct Certificate of Deposit didn’t make it into any of our best CD guides, it still could be great if you already intend to open a CD with more than $10,000. You’ll want to pay attention to the CD early withdrawal penalties, though, because some terms have high penalties.

CFG Bank CFG Bank Certificate of Deposit

CFG Bank Certificate of Deposit


Annual Percentage Yield (APY)

3.05% – 3.60% APY


Minimum Deposit Amount

$500

CFG Bank CFG Bank Certificate of Deposit

CFG Bank Certificate of Deposit


Annual Percentage Yield (APY)

3.05% – 3.60% APY


Minimum Deposit Amount

$500


Annual Percentage Yield (APY)

3.05% – 3.60% APY


Minimum Deposit Amount

$500

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You may like CFG Bank CDs if you’re searching for the following terms: 12-month, 13-month, 18-month, 36-month, or 60-month CDs. You also can open a CD with a low minimum opening deposit.

Connexus Credit Union Connexus Credit Union Share Certificate

Connexus Credit Union Share Certificate


Annual Percentage Yield (APY)

3.01% to 3.46% APY


Minimum Deposit Amount

$5,000

Connexus Credit Union Connexus Credit Union Share Certificate

Connexus Credit Union Share Certificate


Annual Percentage Yield (APY)

3.01% to 3.46% APY


Minimum Deposit Amount

$5,000

On Connexus Credit Union’s website


Annual Percentage Yield (APY)

3.01% to 3.46% APY


Minimum Deposit Amount

$5,000

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Connexus offers competitive interest rates on its 1-year, 2-year, and 3-year CDs. It might be a good option if you have at least $5,000 for an initial deposit.

Alliant Credit Union Alliant Certificate


Annual Percentage Yield (APY)

2.90% to 3.35% APY


Minimum Deposit Amount

$1,000

Alliant Credit Union Alliant Certificate


Annual Percentage Yield (APY)

2.90% to 3.35% APY


Minimum Deposit Amount

$1,000

On Alliant Credit Union’s website


Annual Percentage Yield (APY)

2.90% to 3.35% APY


Minimum Deposit Amount

$1,000

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Alliant Credit Union might be worth considering if you’re searching for CD terms between 1 year and 5 years. You’ll need a minimum of $1,000 to open a CD.

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