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For savings that are better kept in the bank than invested in the market, certificates of deposit offer a way to earn more than you can with a standard savings account. They also come with a virtually risk-free, predictable and secure return.
As one of the most common CD terms, 5-year certificates of deposit can be found at thousands of banks and credit unions Across the country. But what different institutions pay for these CDs varies widely. Some have interest rates of less than a quarter of a percent, while the best CDs nationwide pay over 1.25 percent.
To help you find the best 5-year CD rates to maximize your income, we regularly research and rank rates from approximately 200 banks and credit unions that offer CDs to customers nationwide. To be eligible for our classification, the establishment must be federally insured (FDIC for banks, NCUA for credit unions) and must offer CDs with a minimum initial deposit of $25,000 or less.
In cases where multiple institutions pay the same maximum rate, we have prioritized ranking by the shortest term, then the smallest minimum deposit, and if there is still a tie, whereby CD has a lighter penalty for early withdrawal.
Best CD prices over 5 years:
- EFCU Financial – 4.00% APY
- CFG Bank – 3.65% ABS
- Savings on bread – 3.65% ABS
- Federal Credit Union Lafayette – 3.64% ABS
- Popular direct – 3.40% APY
- MYSB Direct – 3.26% ABS
- Sync Bank – 3.25% APY
- Marcus of Goldman Sachs – 3.25% APY
- Prime Alliance Bank – 3.25% APY
- Alliant Credit Union – 3.25% APY
- First Internet Bank – 3.25% APY
- First National Bank of America – 3.25% APY
- Bank TAB – 3.25% APY
- Citizen Access – 3.25% APY
Detailed information on these highest paying 5-year CDs is provided below, including details on minimum deposits and early withdrawal penalties. For credit union CDs, information is also provided on how anyone can join the credit union.
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