Our list of highest interest rates for savings, CDs, and checking accounts focuses on financial institutions that have low fees, and high rates and are typically available anywhere in the U.S. While we update this page monthly, rates change often so you’ll want to confirm rates with the bank or credit union.

Best Interest Rates for April 2024

Savings Accounts

The rates listed in the table below represent some of the highest rates on a nationally available savings account. We’ve included a variety of options from small to large banks. Online banks offer the highest rates on savings accounts so you’ll find they make up the majority of our list. Not only are these savings rates high, but we also included these accounts because they have little to no minimum opening deposit requirements.

Check out our full list of Best Savings Accounts Rates here.

CD Rates

Our list of best CD rates includes a variety of terms from banks and credit unions. The credit unions we include offer easy membership for everyone to join. Keep in mind that penalties may apply if you close the CD before the end of the term unless it’s a no-penalty CD.

See our lists of CD rates by term here.

Checking Accounts

Most checking accounts don’t pay interest. For online banks, however, you’ll find plenty of options where you can earn some interest on your funds. There are a couple of things to keep in mind:

• Some banks offer higher interest rates only if you keep a lot of money in your checking account or reach specific spending requirements.
• The rates for checking accounts are lower than many savings accounts or CDs.

Some top-paying accounts include:

Fierce

Right now, everyone who opens a Fierce checking account will earn a yield of % on their cash. There is no minimum deposit requirement, no monthly fees and your money is FDIC insured up to the maximum.

All Fierce checking account holders will receive a Mastercard debit card where they can withdraw funds from more than 55,000 ATMs at no charge. Should you be looking for a larger return, you can always use the Fierce App to trade stocks as well (even fractional shares).

Wealthfront Cash Account

Wealthfront is not a bank but they do partner with banks to offer FDIC-insured accounts. You can earn % APY with a Wealthfront Cash Account. There’s no minimum balance to earn that rate and no monthly account fees.

Consumers Credit Union Rewards Checking

If you use a debit card often, you might consider opening a checking account with Consumers Credit Union. When you make at least 12 qualifying debit card purchases every month, enroll in e-statements, and receive a minimum direct deposit of $500 a month, you can earn a rate of 3.00% APY. If you reach the monthly spending requirements, you can earn an even higher APY, up to 5.00%. Membership is easy to get by paying a one-time $5 fee to the Consumers Cooperative Association.

Ally Bank Spending Account

For those with at least $15,000, you can earn % APY from Ally Bank. Balances less than $15k can earn 0.10% APY. Ally Bank is a popular online bank and we also like that there are no monthly maintenance fees for this account.

Bonus: I also keep a running list of popular checking account promotions you can check out.

Credit Cards

When you’re looking for a credit card with the best interest rate, you want to look for one that offers 0% APR. The longest 0% introductory period stands at 21 months for purchases and balance transfers. You can find a current list of the best 0% credit card offers here.

How To Get the Best Interest Rates

The easiest way to get the best interest rates is to have good or great credit. If you’re getting a credit card, for example, it’s one of the primary determining factors in your interest rate. If your credit is less than great, you can work on improving your rating.

Read More: 11 Simple Ways to Improve Your Credit Score Today

Another factor is your current debt level. If you have a lot of debt, you may not get preferred interest rates on things like credit cards since you’re considered a higher risk. Higher debt levels also negatively impact your credit, so it’s best to pay your debt off as quickly as possible to get the best rates.

Related: 23 Powerful Tips and Tools to Eliminate Debt

Finally, how much money you have to “put down” can make a difference. In the case of a mortgage, having a sizable down payment (of at least 20%) can help to ensure you get the best rates possible. And with some CDs or high-yield savings accounts, having more money to put into those can typically get you a better interest rate.

How Do Interest Rates Work?

Interest rates are determined, at least in part, by the federal funds rate set by the Federal Reserve. The federal funds rate is the rate banks charge each other for lending money overnight. Most recently, as mentioned before, the Fed raised its interest rate in July 2023 to a range of 5.25% – 5.50%.

As this rate goes up or down, so do the rates you’re charged for borrowing money and the rates you get for loaning or depositing money. When the economy is strong, the Fed will tend to raise the federal funds rate. Because of that, banks can usually offer a higher interest rate on products like CDs and savings accounts.

Things To Consider When Choosing an Interest-Bearing Account

The main thing to consider when choosing an interest-bearing account is that your rate may fluctuate depending on the product. When you choose a CD, for example, your rate is locked for that term.

That’s why it makes a lot of sense to lock in a good CD rate when you can find one. Alternatively, it might make sense to find somewhere else to put your money when CD rates are low since your money will be locked into that rate.

When choosing a high-yield savings account, it’s good to be mindful of rates fluctuating. For instance, before COVID-19, rates were generally pretty high. Then suddenly, they started dropping like flies, and what was once a good APY on a savings account suddenly became almost nothing.

That’s to be expected. Rates will fluctuate with savings accounts, so be prepared for that if and when it happens.

Are There Any Risks?

There aren’t many risks with interest rates, except that you might miss out on better ones. For example, if you lock in a new rate on a mortgage, you might miss out if rates drop even further. Or, if you lock in your money with a CD, you might miss out on rates going upward.

The risks are minimal unless, of course, there were a major upward swing in interest rates on something like a mortgage. If you have an adjustable-rate mortgage (ARM), you’ll be subject to whatever the new rates are, which will impact your payment.

Overall, the best thing to do is keep a pulse on the economy and how the federal funds rate is trending. I also find it useful to listen to the meeting minutes and any significant quotes that come out of the Fed meetings. This way, you can get a sense of how they’re feeling about the economy.

Frequently Asked Questions (FAQ)

Final Words

Finding the best interest rates is a combination of timing, good credit, and having money available. You can’t control the first one, but the latter two you can. Regardless of where you stand today, it’s always smart to work on improving your credit and paying down your debt. Then when the time is right, you’ll be in the best position possible to get the best interest rates available.

The post The Highest Interest Rates for April 2024 appeared first on Doughroller.

After running through the various options in my head, I remembered something about my parents’ portfolio. My extremely risk-averse parents continue to keep nearly all of their money in a local savings account that earns a robust 0.05% APY. The most reasonable answer was, “Dad, roll your pension over to an IRA CD.”

What is an IRA CD?

An IRA CD is a certificate of deposit that is inside an IRA. A CD works like a savings account except that the money in the CD is locked up for the term of the CD in exchange for a higher interest rate. If you withdraw the money early you may pay a penalty that equals a predetermined amount of interest. For example, on a one-year CD, you typically pay three months of interest for withdrawing funds before the year is up.

You can buy CDs inside your IRA, which makes them IRA CDs. For CDs outside an IRA, here are the best rates.

The drawback of CDs is the penalty for early withdrawal. Since you’ll be buying them in your IRA, you likely have a much better idea of when you’ll need the money than, say, if you were using CDs in your emergency fund. With current interest rates, you can earn 5% or more guaranteed on your money. That’s not too bad.

The Best IRA CD Rates

What follows are some of the best IRA CD rates we could find. Keep in mind that the APY on a CD can change frequently, so be sure to confirm the rate with the bank before investing your money.

We’ll begin the list with a big-name bank, Discover, followed by popular online banks, Ally and Synchrony. From there, you’ll find the highest rates available as of April 1, 2024.

Discover® Bank

Discover Bank is the most recognizable name on our list and for many people that’s important. Choosing a bank that’s been around for decades can help people trust that their money is safe. The IRA CD rates here may not be the highest but they are certainly competitive. CDs are FDIC-insured.

Here’s a list of notable IRA CD rates from Discover:

• 9-month CD – % APY
• 12-month CD – % APY
• 18-month CD – % APY
• 24-month CD – % APY
• 30-month CD – % APY
• 3-year CD – % APY
• 4-year CD – % APY
• 5-year CD – % APY

Ally Bank

Ally is a well-known online bank offering high-yield savings products including competitive rates on IRA CDs. CD terms range from 3 months to 5 years and there’s no minimum deposit to open an account. Accounts are FDIC-insured. Here are the highest IRA CD rates at Ally:

• 9-month CD – % APY
• 12-month CD – % APY
• 18-month CD – % APY
• 3-year CD – % APY
• 5-year CD – % APY

Synchrony Bank

Synchrony Bank is an online bank offering several IRA CD terms from 3 months to 60 months. There’s no minimum deposit needed to open an account. However, you can’t open an account online, instead, you’ll need to call Synchrony. You can find the number to call on Synchrony’s website. Accounts are FDIC-insured. Here’s a peek at some of the highest IRA CD rates from Synchrony:

• 6-month – % APY
• 9-month – % APY
• 12-month – % APY
• 15-month – % APY
• 24-month – % APY

Bellco Credit Union

Bellco Credit Union offers easy membership for anyone. You can join the Bellco Foundation with a minimum donation of $10. From there, you can access IRA CDs and other financial products including checking, savings accounts, and credit cards. Bellco offers a great rate for a 12-month CD at % APY. The minimum deposit is $500. CDs are NCUA-insured.

USAlliance Financial

USAlliance Financial is a credit union offering an easy way to join. You can become a member of the American Consumer Council with an $8 donation and then join USAlliance. You’ll find the best rate for a 12-month CD at USAlliance at % APY. You’ll also find the best rate for an 18-month CD here at % APY. The minimum deposit for both CDs is $500. CDs are NCIA-insured.

Department of Commerce FCU

The Department of Commerce Federal Credit Union also offers easy membership through the American Consumer Council with an $8 donation. The Department of Commerce FCU provides the best rate for a 12-month to 23-month IRA CD at 5.02% APY. The minimum deposit is $500 and accounts are NCUA-insured.

United States Senate FCU

The United States Senate Federal Credit Union also offers membership through the American Consumer Council. You can even use a promo code found here to waive the $8 ACC membership fee. The United States Senate FCU offers the best rate for a 3-year CD at 4.08% APY with a $1,000 minimum deposit. Accounts are NCUA-insured.

GTE Financial

Membership to GTE Financial is open to anyone who joins their CU Savers educational financial club with a $10 membership fee. You’ll find their best rate is for a 12-month CD at 5.12% APY at GTE Financial. The minimum deposit is $500 and accounts are NCUA-insured.

Northwest FCU

Northwest Federal Credit Union offers easy membership through one of many community organizations. When you sign up online you can choose an organization to join, for example, The Humane Society of the United States. Northwest FCU offers the highest rate on a 5-year CD at 4.85% APY. The minimum deposit is $1,000 and accounts are NCUA-insured.

Pros and Cons of an IRA CD

Pros

• Guaranteed interest
• No risk of market losses

Cons

• May earn less than the stock market, especially over long periods.
• Funds are tied up for the full CD term
• Early withdrawal penalties

How to Open an IRA CD

To open an IRA CD you will first have to open an IRA at the bank or credit union where you will be buying the CD. For example, let’s say you are going to buy a CD from USAlliance Financial. First, you would open an IRA at USAlliance (either traditional or Roth) and fund that IRA account.

You could fund it with the cash you have on hand (up to annual contribution limits) or roll over some money from an existing IRA. Note that there may be tax consequences if you move money from a Roth to a traditional IRA and vice versa.

Once your money is in an IRA at your desired bank you can use it to purchase a CD. Not all banks allow CD purchases inside an IRA so if you aren’t using a bank from this list be sure to ask before moving your money.

Read the terms carefully before you commit to a CD. Remember your funds will be held for the entire CD term. Choose a term you are comfortable with and know the early withdrawal penalty.

Is an IRA CD Tax Deductible?

A Roth IRA is not tax deductible. Any money you contribute is taxed when it’s earned but then grows tax-free. You do not pay taxes when you withdraw from a Roth IRA in retirement.

A traditional IRA works differently. With a traditional IRA, the money you contribute is tax deductible and it grows tax deferred. When you withdraw from a traditional IRA in retirement you’ll pay taxes on that amount. There are income limits for the deductibility and limitations on the contributions to IRAs of either type.

Are IRA CDs FDIC Insured?

All the banks and credit unions on this list provide FDIC or NCUA insurance. If the bank or credit union goes bankrupt the insurance will give you your money back. It is protected up to $250,000 per depositor at the institution.

Keep in mind, that if you have more than one account at the institution, the maximum amount you’re covered for is $250,000, even if your accounts total more than that. However, if you have IRA CDs at two different institutions that provide FDIC or NCUA insurance, you’ll be covered up to $250,000 at each institution.

The Bottom Line

If you are looking for a safe investment with a guaranteed rate of return, CDs might be just the thing. They earn competitive interest rates compared to regular savings accounts and, like a savings account, are insured.

While your long-term savings should likely be invested in the stock market, CDs provide a safe place to store some money that you will want access to over the shorter term.

The post Best IRA CD Rates for April 2024 appeared first on Doughroller.

Here’s how the 50/30/20 budget can improve your spending, savings, and financial stability.

What Is the 50/30/20 Budget?

The 50/30/20 budget gives every dollar in your bank account a purpose. This budgeting idea comes from the 2005 book All Your Worth: The Ultimate Lifetime Money Plan by Massachusetts Senator Elizabeth Warren and her daughter Amelia Warren Tyagi.

The 50/30/20 budget organizes your money into needs, wants, and savings.

Half of your paycheck, or 50%, goes toward non-negotiable needs. 30% goes to the fun stuff. And the remaining 20% goes toward savings, investing, and paying down debt.

Too often, budgeting guidance can be unrealistically restrictive and shames frivolous spending. Or some financial advice can lean too heavily on simple platitudes. For example, stop buying a $5 fancy coffee daily and put that amount in a savings account instead.

While this advice isn’t wrong, a more realistic approach may yield better results. A budget should include some indulgence and fun. The 50/30/20 budget leaves room for buying what you want while prioritizing saving and investing. So you won’t feel like you’re on a restrictive financial diet.

How the 50/30/20 Budget Works

Budgets are easily broken. But when you leave room for typical spending, you’re more likely to stick to the plan. 

The 50/30/20 Budget creates an organization template for your monthly income. You’ll know exactly where every dollar needs to go.

Budget 50% of Your Money for Needs

We might think we “need” modern amenities like updated smartphones, Wi-Fi, and a fresh haircut.

But needs will come down to what keeps you alive, employed, and out of jail. Needs can include:

• Groceries
• Utilities
• Mortgage
• Rent
• Car loan
• Gas money
• Car maintenance
• Work clothes
• Childcare costs
• Healthcare insurance
• Copayments
• Credit card minimum payments

If you work from home or are self-employed, having the latest smartphone and the fastest internet may fall under work necessities. In certain work-contingent situations, expenses that seem like “wants” can be classified as “needs.”

Budget 30% of Your Money for Wants

This “wants” section is the special feature of the 50/30/20 budget. It’s a built-in buffer. A significant 30% of your monthly budget goes to non-necessities. 

This extra expense may be a new outfit for the next holiday party or sushi when you don’t like cooking. It can also be for a spontaneous movie date or a Starbucks commute ritual. You can indulge without getting off track if you stick to your 30% limit.

Other “want” purchases might include:

• Vacations
• Tech accessories
• Donations
• Gifts
• Streaming services
• Plants
• Home Decor
• Gym/club memberships
• App subscriptions

Any expense that isn’t necessary for survival or paying off debt is likely a candidate for the “wants” category.

Budget 20% of Your Money for Savings

The smallest chunk of your money is set aside for savings. We’re generally using the term “savings” here. This money can also be used for retirement investing and paying off debts faster.

How you divide your savings budget is up to you. You can begin by building your emergency fund. Put three to six months’ monthly expenses in your emergency fund and keep them there.

Your excess savings can pay off any high-interest debt, like credit cards. Check out our list of best savings accounts for ideas on where to stash your emergency fund.

If you’re not already sending a portion of your paycheck to a retirement fund, consider getting a 401k or IRA. Then, you can send 10% to your emergency fund and 10% to your retirement account. You can also send a higher percentage to your savings to build your emergency fund faster. The choice is yours. 

Helpful 50/30/20 Budgeting Tools

Using a budgeting app increases the chances of sticking to it. Research shows that the instant feedback consumers receive from their budgeting apps helps them manage their financial goals. 

We’ll highlight some of the best budgeting apps below.

YNAB

YNAB, or You Need a Budget, can streamline your finances into an easy-to-follow budget. Even if you have multiple income streams spread out among different bank accounts. The app can support a 50/30/20 budget with its smart categorization feature to divide expenses into wants, needs, and savings categories. 

As the app learns your expenses and budgeting goals, it can automatically recognize and categorize your spending. You’ll receive a free trial of YNAB for 34 days to see if this is the budgeting platform for you. After the trial, a subscription costs $14.99 per month or $98.99 per year.

Read our YNAB Review

Tiller

For those who truly appreciate the unmatched orderliness of a spreadsheet, Tiller is the budgeting app for you. It offers a simple spreadsheet design. You can fully customize your budget and easily set up a 50/30/20 budget system. Use a community template if you don’t feel like tinkering with the spreadsheet. 

You can link all your financial accounts so your Tiller spreadsheet updates automatically and gives you feedback on your total financial picture. Tiller Money is free for 30 days, then $79 per year.

Read our Tiller Review

Simplifi

Backed by fintech giant Intuit, Simplifi connects all your bank, investment, and retirement accounts. Your dashboard is your control center, so you can quickly assess your finances and stay on your budget. Their customizable categories can be personalized to match a 50/30/20 budget setup. 

The app also offers helpful insights to highlight how small changes can help you realize financial goals in the future. Simplifi costs annually or per month.

Read our Simplifi Review

What if I Can’t Afford To Follow the 50/30/20 Budget?

The beauty of the 50/30/20 budget is that it’s percentage-based instead of relying on static numbers. This allows people in any income bracket to start a budget plan.

However, you may find that you can’t follow a 50/30/20 budget if most of your income goes toward absolute necessities. 

To calculate if the 50/30/20 budget works for your financial situation, comb through your last full bank statement. Add up the total amount of deposits or your standard monthly income. 

Then, find the total expenses that are absolute necessities. Figure the percentage you spend on necessities by dividing your necessary expenses by your monthly income. Multiply this number by 100.

For example, if you make $5,000 per month, and your needs total $3,000:

3,000/5,000 = 0.6

0.6×100 = 60% of your income goes toward the “needs” category.

How to Lower Your Needs Percentage

Don’t give up if your necessary expenses total more than 50%. But you will need to get creative. Two ways to get your absolute necessary expense percentage down are to:

• Find a way to increase your income through a side hustle or a new job.
• Find cheaper options for your absolute necessities. This might include buying generic groceries instead of name brands, trading in your vehicle for a vehicle with a lower monthly payment, or refinancing your mortgage for a lower APR.

Using a budgeting app can also help you evaluate your spending habits in the “wants” category. Then, you can make more informed spending choices from now on.

50/30/20 Budget Alternatives

If the 50/30/20 setup is unrealistic for your budget right now, you could view it as an attainable goal while you increase your income or decrease your necessary expenses.

In the meantime, you can still take charge of your budget with one of the following proportional budget systems.

80/20 Budget

The 80/20 budget is the simplest way to practice proportional budgeting. It removes the need to track your expenses throughout the month. You also won’t need to put any thought into which purchases are necessities and which are wanted. The 80/20 budget breaks down like this:

• 80% of your monthly income goes toward all expenses, necessary and superfluous
• 20% of income goes into savings

If you immediately move 20% of your paycheck into savings when you get paid, you’ve done all the legwork this budgeting method requires. Of course, you should check your bank account often enough to make sure you don’t overdraw.

70/20/10 Budget

The 70/20/10 stands out from other percentage-based budget types for its aggressive approach to paying down debt. The 50/30/20 and 80/20 leave an open suggestion to pay down debt if you have room in the 20% savings section. But the 70/20/10 dedicates a separate category to it.

The 70/20/10 works the following way:

• 70% of income goes to living expenses and wants
• 20% of income goes to savings
• 10% of income goes to paying down debt

This is the ideal budget plan for people who are burdened by high-interest-rate revolving credit. Hacking away at debt every month puts you in a position to be debt-free. Once that happens, you might transition to the 80/20 or 50/30/20 budget.

Frequently Asked Questions (FAQ)

Final Thoughts

When left unsupervised, dollars tend to dwindle without notice. But a budget gives your money a mission to improve your financial standing.

The 50/30/20 budget is one money management route to get there. With the help of budgeting apps, you can easily start tracking and organizing your money as soon as your next paycheck drops.

With this proportional budget plan, you can secure your financial future without sacrificing fun spending. The bottom line is that the 50/30/20 budget has some advantages as a starting point, but like most financial rules of thumb, it can also lead you astray.

The post Is the 50/30/20 Budget a Good Rule of Thumb? appeared first on Doughroller.

In college it’s a different ballgame: 23 percent of full-time undergraduate students work 20 or more hours a week, and most college students work at least a few hours a week. Rather than blowing your hard-earned cash, you may need to save some of it for tuition, books, and other college-related expenses.

The best way to do that is to make sure you choose the banking solution that’s right for you. That’s exactly what my wife and I are helping our daughter do as she prepares to attend college this fall.

Based on our research, here are the main banking options for college students, along with some of the good and bad things about them.

How to Pick the Best Bank Option for College Students

Before a close friend’s daughter went off to college for the first time, it dawned on him that she needed to set up a checking account. She hadn’t needed it through high school because she didn’t have a job. She used my friend’s bank account to cash checks, and she kept her cash in her room.

Rather than trying to make sense of the many banking options that she could have used, my friend started with a simple list of requirements that narrowed the field:

• On-campus ATMs so that she can get cash any time she needs it.
• No fees for ATM use.
• Debit card so she doesn’t need lots of cash.
• Not a credit card, so she can’t get in trouble for overspending.
• Online banking to access the account.
• Electronic fund transfer so I can send her money with little fuss.

This is a sound list to consider as you choose the right student banking option.

College Student Banking Options

The banking options are endless. Nearly all large banks offer student-specific solutions alongside their more traditional options. Here’s a quick breakdown of the main options available to students:

Capital One 360 MONEY Account

I’ll start with the option our daughter will be using this fall as she goes off to college. Described as a teen checking account, the Capital One MONEY account is ideal for college students. Both of our children have used the MONEY account since Capital One 360 bought out ING Direct, and it has been an excellent tool to teach them financial responsibility.

Pros and Cons of Capital One 360 MONEY Account

*The one negative listed above requires some explanation. Capital One bought out ING Direct to form Capital One 360. Capital One and Capital One 360, however, are technically two separate banks. I think the time will come when checks can be deposited at Capital One branches, but I know from personal experience that it’s not possible at the moment. The good news is that you can deposit checks with your smartphone, which is what we do. You can also set up direct deposit.

School Bank Card

Many colleges and universities in the U.S. have debit card relationships with banks and other financial institutions. Sometimes these debit cards look like regular debit cards, and they may include your school’s logo. Or your school may turn your student ID into a debit card.

While these debit cards are convenient — you can often load your student loan disbursements directly onto them — they aren’t usually the best option. Many of these cards charge hidden fees, such as a $36 per overdraft fee.

So don’t just accept your school’s debit card arrangement. Instead, read the fine print and shop around before using one of these cards.

Pros and Cons of School Bank Card

Traditional Checking Account (National Bank)

Many large banks, like Citi and Wells Fargo, offer checking account options made just for college students. These accounts may offer lower fees than traditional banking accounts through these same banks.

Wells Fargo has a similar option, which waives the typical $3 per month service fee to students who link the account to a Wells Fargo Campus ATM, maintain a daily balance of at least $500, or post direct deposits of at least $25.

Such affordable options are great for college students, who need to make the most of every dollar. Still, large for-profit banks may charge higher fees on other things, such as overdrawing a checking account or getting money out of a different ATM.

Nevertheless, this is the option we’ll choose for our daughter. She already has the MONEY account from Capital One 360, which as noted above is an ideal choice for college students.

Here are some other options to consider:

• TD Bank Convenience Checking
• USAA Classic Checking
• BOA Student Checking
• Wells Fargo Clear Access Banking℠

Pros and Cons of Traditional Checking Account at a National Bank

Traditional Checking Account (Local Credit Union)

Smaller local credit unions often offer accounts similar to the large banks and may have student checking options. The difference is that credit unions often come with lower fees for everything from ATM withdrawals to overdrafts.

Also, credit unions are often known for their more personable feel. Because they’re smaller institutions, they may cut you some slack if you have financial troubles.

Plus, building a relationship with a credit union now could help you later if you need a loan. Credit union lending requirements tend to be less restrictive, so you may be able to get a loan even without stellar credit.

On the flip side, credit unions are harder to access because they don’t have as many branches or ATMs (though many reimburse or don’t charge ATM fees). However, more credit unions are offering online banking to help negate this issue.

Pros and Cons of Traditional Checking Accounts at Local Credit Union

Prepaid Card

Prepaid cards can be a way to bank without a bank. These cards, which look and spend like credit or debit cards, allow you to load cash and spend it as needed. Most allow for direct deposit of your paychecks, which can make them more convenient.

Prepaid cards can be quite convenient for college students. In fact, some colleges’ student IDs double as prepaid cards (rather than debit cards). These cards can also be a good way to force yourself to stick to a budget because you can’t spend more than is available on the card.

Prepaid cards, unlike credit cards, don’t charge interest (because you’re not going into debt) and don’t require a credit check.

On the other hand, prepaid cards can come with some pretty high fees. Some have high opening fees, monthly maintenance fees, and fees for loading the card. So you must do your research to find the best prepaid card options before you decide which card to use.

Also, if your parents are giving you some spending money for school, prepaid cards can be helpful. Some offer the option for parents to load money onto the card for the student to spend.

Pros and Cons of Prepaid Card

Credit Card

While you don’t want to run up a bunch of credit card debt, when used wisely credit cards can be a decent option for college students. New credit card rules mean that some cards come with longer zero-percent APR promotional periods and better rewards.

If you don’t have much of a credit history, you may need to apply for a specialized student credit card. Since cards like this are designed for students, they don’t require a high credit score to get.

Credit cards can help you build your credit history, as long as you use them well. Some give you free access to your monthly credit score so that you can track your score.

Pros and Cons of Credit Card

Using Parents’ Account

If you can’t get an account on your own — or if you mostly rely on your parents to fund your school-related costs, anyway — you may become an add-on to your parents’ accounts. In fact, if you’re applying for any sort of credit, you may need to have your parents apply as co-signors so that you can leverage their credit history.

It’s usually easy to get a credit card issued to you from your parent’s account, but you will need to be careful of your spending. After all, your parents will ultimately be responsible for your spending, and you don’t want to take advantage of them.

You may also be able to use your parents’ checking account, or a secondary checking account set up with your name on it, for your banking needs. This can be helpful if your parents want to transfer a set amount of money to you each month, especially if they can link the secondary account to a savings or primary checking account.

Bottom Line – Which Is Best for You?

Now that we’ve laid out the basic banking options for college students, it’s up to you to decide which is best for you. If you’re like many students, your best bet is probably a combination.

For instance, if you want to develop good spending habits but also need to save money, consider a checking account and a prepaid card. Deposit your checks into the checking account, and then transfer a small, set amount of cash to your prepaid card to spend.

As long as you don’t otherwise touch your checking account, you won’t overspend, and you’ll have some money stashed away for larger school expenses.

One thing to note: if you have any money to save, open a savings account. Set aside money to pay down student loans, buy your first home, or just for an emergency. You’ll be glad you did.

The post Best Student Checking Accounts and Banking Options appeared first on Doughroller.

For those that pay interest, online banks can generally beat traditional financial institutions big or small with higher rates because of lower costs. Online banks don’t need to maintain an expensive network of branches, and they can pass those savings on to consumers in the form of higher interest rates and lower fees.

To give you an idea of what’s available, I’ve put together this list of free and low-cost online checking accounts. I’ll be adding to the list as interesting offers become available. What I like about these options, however, is the diversity of what is offered.

Note that all of the online checking accounts listed below are FDIC-insured up to $250,000 per depositor / per account.

Best Free Checking Accounts

1. Wealthfront Cash Account

The Wealthfront Cash Account is an online checking account that offers a robust % APY on all balances. There are zero account fees to worry about and you can make unlimited transfers and withdrawals. Account owners that set up direct deposit will get paid up to 2 days faster than at traditional banks.

Wealthfront also offers up to $5MM in FDIC insurance through partner banks and charges just $10 for any wire transfers out of the account. You’ll receive a Wealthfront Cash Account debit card after approval and ATM withdrawals at more than 19,000 locations are free of charge (out-of-network ATMs will incur a fee).

And if you’re interested in investing, Wealthfront is best known for their robo advisor which offers a $50 bonus after you fund your account and a very low management fee.

2. BMO Smart Advantage Checking

Largely known for its presence in the mid-west, BMO Harris has a suite of online checking products that are quite attractive. Their best is the BMO Smart Advantage Checking account which offers a $ bonus after you’ve made $4,000 in direct deposits within the first 90 days.

There is no minimum balance to open an account and there are no monthly maintenance fees. ATM withdrawals are free when you’re in network ($3 when you’re out of network) and while there’s a $15 overdraft charge, overdraft protection is available at no additional cost.

The BMO Smart Advantage Checking account is one of three accounts the brand offers; the other two are equally appealing:

• BMO Smart Money Checking – Same $ bonus w/ same direct deposit terms but no overdraft fees. There is a monthly maintenance fee if you’re over the age of 25.
• BMO Relationship Checking – $ cash bonus when you make more than $7,500 in direct deposits within the first 90 days. They offer Silver, Gold, Platinum, and Premier accounts with different perks and different fee structures.

The BMO bonuses expire .

3. TD Bank Beyond Checking

TD Bank is the first of the old-school brick-and-mortar banks to make our best free checking accounts list. The TD Bank Beyond Checking account currently offers a $ bonus after setting up $2,500 worth of qualifying direct deposits within the first 60 days of account opening. The bonus expires .

There is a rather unpleasant monthly maintenance fee of $25 that can be waived if one of the three following conditions are met:

1. $5,000 or more in monthly direct deposits
2. $2,500 average daily balance
3. $25,000 or more combined in all eligible TD accounts.

ATM fees are waived for all TD Bank Beyond Checking accountholders and overdraft fees are automatically refunded up to two times a year. Owning this account will also allow you to waive monthly maintenance fees on any linked TD personal savings account.

4. Betterment Cash Reserve

Wait – what? Betterment is a robo-advisor, right? Yep. They are. But they’re not JUST a robo-advisor. Betterment can serve all of your financial needs with the Betterment Cash Reserve account which currently offers a % APY. The regular rate is 5.00% APY but as a bonus, all new customers will earn a 0.50% APY boost for the first three months bringing the APY to %.

Betterment Cash Reserve is a mobile-first checking account that gives you a sleek, blue debit card with tap-to-pay capability (meaning, it’s contactless wherever merchants accept that payment form). Also, the account is FDIC-insured for up to $2MM and there are no fees. Betterment reimburses ATM fees and foreign transaction fees, and there’s no account minimum and you’ll never pay an overdraft fee.

Plus, the mobile app is really nice — it’s clean and easy to use, and you can easily deposit paper checks by snapping a picture, too. While it may be unconventional for your broker to give you a checking account, this one hits the mark on a lot of fronts and we highly recommend it.

5. Chase Total Checking®

Chase Total Checking® offers new account holders a $ bonus. To receive the $ checking bonus you need to open a new account and set up a direct deposit within 90 days.

There is a $12 monthly service fee associated with the account, but the fee can easily be waived if you meet one of the three following criteria:

• Make direct deposits of $500 or more each month.
• Maintaining a daily balance of $1,500 or more.
• Keep a balance of $5,000 or more when you link other qualifying Chase balances (like other checking or savings products).

Chase is one of just two brick-and-mortar brands that made our list of best free checking accounts which means you’ll have access to your cash and in-person support almost anywhere in the county. The $ upfront bonus w/ simple qualifying activities makes it a strong choice. The bonus expires .

Read our Chase Total Checking® Review

6. Discover Cashback Debit Account

The Discover® Cashback Debit Account is different from anything we’ve seen from the company in the past. Known as Cashback Debit, Discover provides you with a debit card that lets you earn 1% cashback for your spending. It works in the same way as a credit card, with the only difference being that purchases are deducted from your checking account.

With no balance requirements or monthly fees, there’s no stress associated with a Discover Cashback Debit bank account. Say goodbye to ATM fees (free withdrawals at more than 60,000 ATMs), insufficient funds fees, and online bill pay fees among others.

The amount of cashback you can earn is capped at $30 per month / $360 per year.

Read our Discover Cashback Debit Account Review

7. Fifth Third Momentum Checking

Fifth Third Momentum Checking offers new customers a $325 bonus after making $ in direct deposits within the first 90 days of account opening. The bonus expires . Fifth Third allows fee-free ATM withdrawals at more than 40,000 ATMs nationwide and charges no monthly service fee.

Fifth Third offers a service called “Extra Time” that allows you to cover any overdraft before a fee is assessed to the account and they also allow you a cash advance on your next direct deposit using “MyAdvance”. There is no minimum balance to open an account and the Fifth Third Momentum Checking account offers unlimited check writing and receipt of your direct deposit up to 2 days faster.

8. mph.Bank Free Checking

With an mph.Bank Free Checking account, you’ll have access to a contactless debit card that has access to more than 55,000 AllPoint ATMs, fee-free. This account does not charge a monthly fee, overdraft fee, non-sufficient funds fee, or really any kind of fee.

mph.Bank Free Checking has a 1.00% APY and requires a $500 direct deposit each month. The app offers a personalized dashboard that can quickly show you how to set up round-ups to start saving and how to make P2P payments using Zelle. When you set up your direct deposit, you’ll be paid up to 2 days early.

9. Upgrade Rewards Checking Plus

Upgrade Rewards Checking Plus is one of a few dozen financial products Upgrade offers and it has a pretty strong set of perks and features. Active accounts will earn 2% cash back on common everyday expenses when $1,000 in direct deposits hits the account every month and 1% cash back is earned on all other purchases.

The account comes with no monthly fees and no overdraft fees and you’ll be reimbursed for ATM fees so long as the account is active. Like a few other accounts on our list, customers who set up direct deposit can get paid up to two days early.

Upgrade also offers personal loans, credit cards, and a savings account with a particularly juicy APY of % (balances of $1,000 or more). All of these products are connected through the Upgrade app which offers contactless payments for in-store purchases.

10. Chime Checking Account

The Chime Checking Account is not your ordinary online checking account. Through its award-winning financial app and debit card, it provides a broad range of services including a Spending Account, a Credit Builder Account, and a Savings Account.

When you receive your Chime Visa® Debit Card, purchases you make with the card can be rounded up using their “Round Up” feature and the money will go right into your savings. And right now, Chime is paying a % APY on its savings product.

The Chime Checking Account has no monthly account minimums and no maintenance fees. There are no membership fees and no ATM fees so long as the ATM is in-network. Out-of-network ATMs will be assessed a fee.

• There is no minimum deposit to open an account.
• No overdraft fees and get paid up to 2 days early with direct deposit.
• Physical checks are OK. In fact, Chime has something called the “Chime Checkbook” where they will mail a physical check to whomever you desire, free of charge.

Read our Chime® Review

11. Capital One MONEY Teen Checking

The Capital One TEEN Money Checking Account is perfect to get your kids prepared for financial independence. Parents can control spending limits, deposit funds (like allowances), and track activity while teens will have the freedom to use their funds anywhere.

There are no monthly maintenance fees and every account will receive a debit card. Parents do not need to have their own Capital One account to deposit money as external accounts can be set up. Teens can even gain experience writing checks. And if you want to get a head start, the age minimum for signing up is just eight years old.

After your teen has a firm grasp on spending, Capital One has a wide variety of credit cards and deposit accounts available to earn rewards and high APYs.

Complete List of Checking Accounts

Citibank
Citi Priority Account

Monthly Fee
$30

APY
0.10%

Min. Dep.
$0

Bonus
$2500

Details

Expires: 07/08/2024

Requirements: Open a Citi Priority Checking Account from 1/10/24 through 07/08/2024 and earn a cash bonus of $500, $1,500 or $2,500 when you complete required activities. To unlock your bonus, deposit qualifying funds within 20 days of account opening and maintain your balance for an additional 60 days starting at the 21st day. Only new checking customers can take advantage of this offer.

Bonus Tiers

• $500: Minimum Deposit of $30,000
• $1,500: Minimum Deposit of $200,000
• $2,500: Minimum Deposit of $300,000

How to Waive Monthly Fee: $30 or $0 when you maintain a combined average monthly balance of $30,000+ in eligible linked deposit, retirement and investment accounts.

Bank of America
Advantage Relationship Checking

Monthly Fee
$25

APY
%

Min. Dep.
$100

Bonus
$200

Details

Expires: 05/31/2024

Requirements: To enroll in this offer, open a new Bank of America personal checking account through this offer page by 05/31/2024. Set up and receive Qualifying Direct Deposits totaling $2,000 or more into that account within 90 days of account opening. This offer is limited to new Bank of America personal checking account customers only. Use offer code TWT200CIS when opening your new account to enroll in this offer.

How to Waive Monthly Fee: You can avoid the Monthly Maintenance Fee if you maintain a minimum daily balance of $20,000 or more in your Advantage Relationship Banking account during each statement cycle.

PNC Bank
Virtual Wallet with Performance Select

Monthly Fee
$25

APY
%

Min. Dep.
$25

Bonus
$400

Details

Expires: 07/01/2024

Requirements: To qualify for the reward, the new Virtual Wallet product must be opened online via the application links on this page from 09/01/2023 through 07/01/2024, and a qualifying Direct deposit(s) must be received within the first 60 days. Your Virtual Wallet product must remain open in order for you to receive the reward, which will be credited to the eligible account within 60–90 days after all conditions have been met and will be identified as Credits Check Reward on your monthly statement.

How to Waive Monthly Fee: $0 monthly fee with $5,000+ in direct deposits to your Spend or a combined balance between checking accounts.

TD Bank
TD Beyond Checking

Monthly Fee
$25

APY
%

Min. Dep.
$0

Bonus
$300

Details

Expires: 07/31/2024

Requirements: To receive the $300 Checking bonus, you must: 1) Open a new TD Beyond Checking account; AND 2) Have your direct deposits totaling $2,500 or more made into this account within 60 calendar days of the account opening date.

How to Waive Monthly Fee:

• Set up direct deposits of $5,000 or more within a statement cycle, or
• Maintain a $2,500 minimum daily balance, or
• Have a $25,000 combined balance across eligible TD accounts.

 

BMO
Relationship Checking Account

Monthly Fee
$25

APY
%

Min. Dep.
$0

Bonus
$400

Details

Expires: 05/03/2024

Requirements: Get a $400 cash bonus when you have a total of at least $7,500 in qualifying direct deposits within the first 90 days.

How to Waive Monthly Fee: Waive the $25 monthly maintenance fee if you meet any of the following requirements:

• The minimum daily Ledger Balance in your account is $10,000 or more for the previous calendar month.
• You have a Monthly Combined Balance of $25,000 for the previous calendar month.
• You’re a client of our employee benefits program, Best of BMO U.S., and have requested the waiver from your BMO Banker.

Huntington Bank
Platinum Perks Checking

Monthly Fee
$25

APY
0.03%

Min. Dep.
-

Bonus
$600

Details

Expires: 10/07/2024

Requirements: Earn $600 when you make minimum deposits of $25,000 into the new Platinum Perks checking account within 90 days of coupon enrollment and keep account open for 90 days.

How to Waive Monthly Fee: No monthly maintenance fee with $25,000 in total relationship balances, otherwise $25 a month.

 

PNC Bank
Virtual Wallet with Performance Spend

Monthly Fee
$15

APY
%

Min. Dep.
$25

Bonus
$200

Details

Expires: 07/01/2024

Requirements: To qualify for the reward, the new Virtual Wallet product must be opened online via the application links on this page from 09/01/2023 through 07/01/2024, and a qualifying Direct deposit(s) must be received within the first 60 days. Your Virtual Wallet product must remain open in order for you to receive the reward, which will be credited to the eligible account within 60–90 days after all conditions have been met and will be identified as Credits Check Reward on your monthly statement.

How to Waive Monthly Fee: $0 monthly fee with $2,000+ in direct deposits to your Spend or a combined balance between checking accounts.

TD Bank
TD Complete Checking

Monthly Fee
$15

APY
%

Min. Dep.
-

Bonus
$200

Details

Expires: 07/31/2024

Requirements: To receive the $200 Checking bonus, you must: 1) Open a new TD Complete Checking account; AND 2) Have your direct deposits totaling $500 or more made into this account within 60 calendar days of the account opening date.

How to Waive Monthly Fee:

1. Have $500 or more in direct deposits within a statement cycle, OR
2. Maintain a minimum daily balance of $500, OR
3. Have a $5,000 minimum daily combined balance across eligible TD accounts that you choose to link

Bank of America
Advantage Plus Checking

Monthly Fee
$12

APY
%

Min. Dep.
$100

Bonus
$200

Details

Expires: 05/31/2024

Requirements: To enroll in this offer, open a new Bank of America personal checking account through this offer page by 05/31/2024. Set up and receive Qualifying Direct Deposits totaling $2,000 or more into that account within 90 days of account opening. This offer is limited to new Bank of America personal checking account customers only. Use offer code TWT200CIS when opening your new account to enroll in this offer.

How to Waive Monthly Fee: No monthly maintenance fee for each statement cycle that you:

• Have at least one qualifying direct deposit of $250.
• Or, maintain a minimum daily balance of $1,500 or more.
• Preferred Rewards clients get this fee waived (waiver applies to first 4 checking accounts).

Truist
One Checking

Monthly Fee
$12

APY
%

Min. Dep.
$0

Bonus
$400

Details

Expires: 10/30/2024

Requirements: As a new personal checking customer, open a new Truist One Checking account online from February 28, 2024 through 10/30/2024 using promo code TRUIST400AFL24. Receive at least one qualifying Direct Deposit of $500 or more AND complete at least 15 qualifying debit card purchases within 90 days of account opening. All debit purchases must be posted to your account to qualify.

How to Waive the Monthly Fee: There are five ways to waive the fee listed below.

• Making $500 or more in total qualifying Direct Deposits per statement cycle.
• Maintaining a total combined ledger balance of $500 or more in any Truist related accounts across personal deposits and all investments as reflected on the business day before your statement cycle end date.
• Having a personal Truist credit card, mortgage or consumer loan, excluding LightStream®.
• Having a linked Small Business Checking Account.
• Maintenance fees waived for students under the age of 25.

JPMorgan Chase Bank, N.A.
Total Checking

Monthly Fee
$12

APY
%

Min. Dep.
$0

Bonus
$300

Details

Expires: 07/24/2024

Requirements:

1. Open a new Chase Total Checking account, which is subject to approval
2. And have your direct deposit of $500 or more made to this account within 90 days of coupon enrollment. Your direct deposit needs to be an electronic deposit of your paycheck, pension or government benefits (such as Social Security) from your employer or the government.

How to Waive Monthly Fee: $12 Monthly Service Fee OR $0 with one of the following, each monthly statement period:

• Electronic deposits made into this account totaling $500 or more, such as payments from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment network, or (iii) third party services that facilitate payments to your debit card using the Visa^® or Mastercard^® network,
• OR a balance at the beginning of each day of $1,500 or more in this account,
• OR an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings, and other balances

FitnessBank
Elite Checking Account

Monthly Fee
$10

APY
6.00%

Min. Dep.
$100

Bonus
-

Details

Wells Fargo
Everyday Checking

Monthly Fee
$10

APY
%

Min. Dep.
$25

Bonus
$300

Details

Expires: 09/25/2024

Requirements:

1. Open a new Everyday Checking account with a minimum opening deposit of $25, by 09/25/2024. Or open a new eligible checking account at a Wells Fargo branch with a minimum opening deposit of $25 by 09/25/2024. You must provide the bonus offer code to the banker at the time of account opening.
2. Receive a total of $1,000 or more in qualifying electronic deposits to your new checking account within 90 calendar days of account opening (the qualification period).
3. Once the 90-day qualification period has elapsed, we will determine if you have met the offer requirements and will deposit any earned bonus into your new checking account within 30 days.

How to Waive Monthly Fee:

The monthly service fee can be avoided with one of the following each fee period:

• $500 minimum daily balance
• $500 or more in total qualifying direct deposits
• A linked Wells Fargo Campus ATM or Campus Debit Card
• Primary account owner is 17–24 years old.

First Internet Bank
Interest Checking

Monthly Fee
$10

APY
0.50%

Min. Dep.
$100

Bonus
-

Details

Huntington Bank
Perks Checking

Monthly Fee
$10

APY
0.02%

Min. Dep.
-

Bonus
$400

Details

Expires: 10/07/2024

Requirements: Earn $400 when you open a Perks Checking account and set up and receive a qualifying direct deposit within 90 days of coupon enrollment and keep account open for 90 days.

How to Waive Monthly Fee: No monthly maintenance fee with $1,000 in total monthly deposits, or $5,000 in total relationship balances, otherwise $10 a month.

mph.bank
Fresh account

Monthly Fee
$9

APY
%

Min. Dep.
$0

Bonus
-

Details

mph.bank
Friends account

Monthly Fee
$9

APY
%

Min. Dep.
$0

Bonus
-

Details

PNC Bank
Virtual Wallet

Monthly Fee
$7

APY
%

Min. Dep.
$25

Bonus
$100

Details

Expires: 07/01/2024

Requirements: To qualify for the reward, the new Virtual Wallet product must be opened online via the application links on this page from 09/01/2023 through 07/01/2024, and a qualifying Direct deposit(s) must be received within the first 60 days. Your Virtual Wallet product must remain open in order for you to receive the reward, which will be credited to the eligible account within 60–90 days after all conditions have been met and will be identified as Credits Check Reward on your monthly statement.

How to Waive Monthly Fee: $0 monthly fee with $500 in direct deposits to your Spend or a combined balance between checking accounts.

U.S. Bank
Checking Account

Monthly Fee
$6.95

APY
%

Min. Dep.
$25

Bonus
-

Details

JPMorgan Chase Bank, N.A.
College Checking

Monthly Fee
$6

APY
%

Min. Dep.
$0

Bonus
$100

Details

Expires: 10/16/2024

To receive the bonus:

1. Open a new Chase College CheckingSM account online or with your coupon at a local branch.
2. Complete 10 qualifying transactions within 60 days of coupon enrollment.

How to Waive Monthly Fee: There is no Monthly Service Fee until after the student’s expected graduation date (up to five years). The Monthly Service Fee after the expected graduation date is $6 or $0 when you do at least one of the following each statement period:

• Have an electronic deposit made into this account, such as a payment from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment network, or (iii) third party services that facilitate payment to your debit card using the Visa^® or Mastercard^® network
• OR, Keep an average ending day balance of $5,000 or more in your checking account

BMO
Smart Money Account

Monthly Fee
$5

APY
%

Min. Dep.
$25

Bonus
$250

Details

Expires: 05/03/2024

Requirements: Get a $250 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 90 days.

How to Waive Monthly Fee: No monthly maintenance fee if you’re under 25 years old.

JPMorgan Chase Bank, N.A.
Secure Banking

Monthly Fee
$4.95

APY
%

Min. Dep.
$0

Bonus
$100

Details

Expires: 10/16/2024

Requirements:

1. Open a new Chase Secure Banking^SM account online or enter your email address to get your coupon and bring it to a Chase branch to open an account. It’s a $4.95 Monthly Service Fee.
2. Complete 10 qualifying transactions within 60 days of coupon enrollment. Qualifying transactions include debit card purchases, Zelle^®, ACH credits, Chase Quick Deposit^SM or online bill payments. Your bonus will appear in your account within 15 days after completing the qualifying transactions.

Bank of America
Advantage SafeBalance Banking

Monthly Fee
$4.95

APY
%

Min. Dep.
$0

Bonus
$200

Details

Expires: 05/31/2024

Requirements: To enroll in this offer, open a new Bank of America personal checking account through this offer page by 05/31/2024. Set up and receive Qualifying Direct Deposits totaling $2,000 or more into that account within 90 days of account opening. This offer is limited to new Bank of America personal checking account customers only. Use offer code TWT200CIS when opening your new account to enroll in this offer.

How to Waive Monthly Fee: No monthly maintenance fee for:

• Students under age 25* enrolled in school or an educational or vocational program.
• An owner of this account under the age of 18.
• Preferred Rewards clients get this fee waived (waiver applies to first 4 checking accounts).

Physician Bank (a subsidiary of Heritage Bank)
eCentive® checking

Monthly Fee
$4

APY
2.02%

Min. Dep.
$100

Bonus
-

Details

BMO
Smart Advantage Account

Monthly Fee
$0

APY
%

Min. Dep.
$25

Bonus
$250

Details

Expires: 05/03/2024

Requirements: Get a $250 cash bonus when you have a total of at least $4,000 in qualifying direct deposits within the first 90 days.

How to Waive Monthly Fee: There’s no monthly maintenance fee for the Smart Advantage account as long as you opt for paperless statements.

American Express Bank
Rewards Checking

Monthly Fee
$0

APY
1.00%

Min. Dep.
-

Bonus
-

Details

Quontic Bank
High Interest Checking

Monthly Fee
$0

APY
1.10%

Min. Dep.
$0

Bonus
-

Details

Earn 1.10% APY on the portion of the daily balances up to $150,000 when you make at least 10 qualifying debit card point of sale transactions of $10 or more per statement cycle.

SoFi Bank, N.A
Checking and Savings

Monthly Fee
$0

APY
0.50%

Min. Dep.
-

Bonus
$300

Details

Requires direct deposit, otherwise the APY is 0.70%.

Expires: 12/31/2024

Requirements: In order to qualify for eligibility for a bonus, SoFi must receive at least one Qualifying Direct Deposit from an Eligible Participant during the Promotion Period. Qualifying Direct Deposits are defined as deposits from an enrolled member’s employer, payroll, or benefits provider via ACH deposit. Deposits that are not from an employer (such as check deposits; P2P transfers such as from PayPal or Venmo, etc.; merchant transactions such as from PayPal, Stripe, Square, etc.; and bank ACH transfers not from employers) do not qualify for this promotion. The amount of the bonus, if any, is described below. No bonuses shall be paid for Qualifying Direct Deposits of less than $1,000 during the Evaluation Period.

Bonus Tiers:

Total Qualifying Direct Deposit amount in 25-day Evaluation Period	Cash Bonus
$1,000 – $4,999	$50
$5,000 or more	$300

 

Consumers Credit Union
Rewards Checking

Monthly Fee
$0

APY
5.00%

Min. Dep.
$5

Bonus
-

Details

Redneck Bank
Rewards® Checkin' Account

Monthly Fee
$0

APY
5.00%

Min. Dep.
-

Bonus
-

Details

Huntington Bank
Asterisk-Free Checking

Monthly Fee
$0

APY
-

Min. Dep.
-

Bonus
-

Details

Ally Bank
Interest Checking

Monthly Fee
$0

APY
0.25%

Min. Dep.
-

Bonus
-

Details

mph.bank
Free account

Monthly Fee
$0

APY
%

Min. Dep.
$0

Bonus
-

Details

Citibank
Citigold Checking Account

Monthly Fee
$0

APY
%

Min. Dep.
$0

Bonus
$1500

Details

Expires: 10/08/2024

Requirements: New checking customers may earn a cash bonus of $500 or $1,500 after opening an eligible checking account from 7/9/24 to 10/08/2024 and completing required activities:

1. Open a new eligible checking account and enroll in the bonus offer the same day.
2. Deposit New-to-Citibank funds into your checking account within 45 calendar days from account opening. The balance on your 45th day will determine your maximum eligible cash bonus.
3. Maintain the required minimum balance in your eligible account for an additional 45 days from the 46th day. Only new checking customers can take advantage of this offer.

Bonus Tiers

• $500: Minimum Deposit of $30,000
• $1,500: Minimum Deposit of $200,000

Monthly Fees:  None. But if you do not maintain a minimum combined average monthly balance of $200,000+ in eligible linked deposit, retirement and investment accounts, your Citigold Account Package will be converted to the Citi Priority Account Package and your accounts will be subject to the terms and conditions then in effect for that package.

Rising Bank
Rising Checking

Monthly Fee
$0

APY
0.30%

Min. Dep.
$1,000

Bonus
-

Details

First Internet Bank
Free Checking

Monthly Fee
$0

APY
-

Min. Dep.
$25

Bonus
-

Details

Axos Bank
Rewards Checking

Monthly Fee
$0

APY
3.30%

Min. Dep.
$50

Bonus
$500

Details

Requires qualifying banking activities. See Axos website for details.

Expires: 07/31/2024

Requirements: Get up to a $500 bonus on a Rewards Checking account when you use promo code RC500.To be eligible to earn all or a portion of the cash incentive as part of the promotional offer “RC500,” an application for a Rewards Checking account must be submitted between 06/20/2024 at 12:00 am PT and 07/31/2024 at 11:59 pm PT.

You must be approved for your new Rewards Checking account and fund it within 60 days of account opening. An incentive of up to $500 can be earned during the first six statement cycles, starting in the statement cycle 30 days after the account is opened. A statement cycle is a calendar month consisting of at least one day your account was open during that month. You can earn a maximum of five payouts during the six statement cycles, and the incentive will be deposited into the qualifying account within 15 business days following the end of the statement cycle in which the requirements were met.

$100 will be earned for each statement cycle, up to $500, when you meet two requirements during that statement cycle: 1) your Rewards Checking account receives qualifying direct deposits at least $1,500.00 in total, and 2) the average daily balance in your Rewards Checking account is at least $3,000.

mph.bank
First account

Monthly Fee
$0

APY
%

Min. Dep.
$0

Bonus
-

Details

Frequently Asked Questions (FAQ)

Finally, if a bonus is important to you, check out our list of the best bank bonuses.

The post 11 Best Free Checking Accounts appeared first on Doughroller.

Below you will find the best 3-month CDs and we’ve also included a couple that have 4-month terms. If you’re considering a CD ladder, using a few of the unusual term lengths will help your liquidity so they’re highly recommended.

Editor’s Pick

The Rest of the Best 3-Month CD Rates

1. Western Alliance Bank

Certificate of Deposit

Member FDIC

APY

%

Term

3 Months

Min. Deposit

$1

Our Rating: 4.7

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate
• $1 minimum deposit

Cons

---

• Early withdrawal penalty

Early Withdrawal Penalty

90 days of simple interest

Min. Opening Balance

$1

Why it made our list

Western Alliance offers a 3-month CD with only a $1 minimum deposit requirement and a very high-interest rate. When laddering, you’ll also find a 6-month CD from Western Alliance that does even better on interest.

What could be better

Western Alliance is another bank that will penalize you for all of the interest earned if you decide to close your 3-month CD early.

2. Dow Credit Union

Certificate of Deposit

Member NCUA

APY

%

Term

3 Months

Min. Deposit

$500

Our Rating: 4.5

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate

Cons

---

• Early withdrawal penalty
• $500 minimum deposit

Early Withdrawal Penalty

90 days of simple interest

Min. Opening Balance

$500

Why it made our list

Dow Credit Union comes in with one of the highest APYs we could find and while it has a small barrier of a $500 minimum deposit, the interest rate is just too strong to ignore.

What could be better

Closing your Dow CU 3-month CD early means losing up to 90 days of simple interest.

3. Mission Valley Bank via Raisin (No Penalty)

Certificate of Deposit

Member FDIC

APY

%

Term

3 Months

Min. Deposit

$1

Our Rating: 4.6

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate
• $1 minimum deposit
• No early withdrawal penalty

Cons

---

Early Withdrawal Penalty

No Penalty

Min. Opening Balance

$1

Why it made our list

Our first no-penalty CD to make the list, Mission Valley offers a high interest rate with just a $1 minimum deposit. The best feature is that if you have to close your CD early, you will not incur an interest penalty.

What could be better

Compared to others on this list, the rate could be a touch higher but hard to complain when there is no interest penalty.

4. The State Exchange Bank via Raisin

Certificate of Deposit

Member FDIC

APY

%

Term

4 Months

Min. Deposit

$1

Our Rating: 4.8

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate
• $1 minimum deposit

Cons

---

• Early withdrawal penalty

Early Withdrawal Penalty

90 days of simple interest

Min. Opening Balance

$1

Why it made our list

State Exchange Bank includes one of the best 3-month CD rates available with only a $1 minimum deposit amount. They also offer a variety of other CD terms with competitive interest rates.

What could be better

If you close your CD before it matures, you will give up every penny of interest earned.

5. Banesco

Certificate of Deposit

Member FDIC

APY

%

Term

3 Months

Min. Deposit

$1,500

Our Rating: 4.7

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate

Cons

---

• Early withdrawal penalty
• $1,500 minimum deposit

Early Withdrawal Penalty

90 days of simple interest

Min. Opening Balance

$1,500

Why it made our list

Banesco offers a terrific rate on its 3-month CD. A few other terms are available but the 3-month term offers the highest APY.

What could be better

To open a CD, a $1,500 minimum deposit is required.

Highest 3-Month CD Rates by APY

After reviewing more than 100 short-term CD rates, these were the 25 highest rates on 3-month CDs we could find, ordered by APY.

82 Results

TotalDirectBank
3-month CD

APY
5.51%

Min
$25,000

Max
-

---

America First Credit Union
3-5 months CD

APY
5.25%

Min
$500

Max
-

---

Banesco USA
3-Month CD

APY
5.25%

Min
$1,500

Max
-

---

Dow Credit Union
3-month CD

APY
5.20%

Min
$500

Max
-

---

Mission Valley Bank
3-month No-Penalty CD via Raisin

APY
5.18%

Min
$1

Max
-

---

Ponce Bank
3-month High Yield CD via Raisin

APY
5.10%

Min
$1

Max
-

---

America First Credit Union
3-5 months Bump-Rate CD

APY
5.10%

Min
$500

Max
-

---

Western Alliance Bank
3-month CD via Raisin

APY
5.05%

Min
$1

Max
-

---

Popular Direct
3-month CD

APY
5.05%

Min
$10,000

Max
-

---

American Bank
90-day CD

APY
5.00%

Min
$500

Max
-

---

American Bank
90-day Business CD

APY
5.00%

Min
$500

Max
-

---

NexBank
3-month Online CD

APY
4.54%

Min
$25,000

Max
$100k

---

UNIFY Financial Credit Union
3-month CD

APY
4.50%

Min
$100

Max
$54k

---

UNIFY Financial Credit Union
3-month CD

APY
4.50%

Min
$40,000

Max
$54k

---

UNIFY Financial Credit Union
3-month Jumbo CD

APY
4.50%

Min
$100,000

Max
-

---

NexBank
3-month Standard CD

APY
4.49%

Min
$10,000

Max
$25k

---

Luana Savings Bank
3-month Jumbo CD

APY
4.42%

Min
$100,000

Max
-

---

Interior Federal Credit Union
3-month CD

APY
4.40%

Min
$500

Max
-

---

Luana Savings Bank
3-Month CD

APY
4.27%

Min
$2,000

Max
$100k

---

Alliant Credit Union
3-month CD

APY
4.25%

Min
$1,000

Max
-

---

Alliant Credit Union
3-month Jumbo CD

APY
4.25%

Min
$75,000

Max
-

---

Thrivent Credit Union
3-month CD

APY
4.25%

Min
$1,000

Max
-

---

All In Credit Union
3-month CD

APY
4.18%

Min
$1,000

Max
-

---

First Internet Bank
3-months High Yield CD

APY
4.14%

Min
$1,000

Max
-

---

Bayer Heritage Federal Credit Union
3-month CD

APY
4.08%

Min
$100

Max
-

---

How We Chose the Best 3-Month CDs

When looking at banks and credit unions that offer 3-month CDs, there were two primary factors taken into account to determine which ones made our list, and which ones did not.

1. Interest Rate (APY) – The biggest selling point of a short-term CD is the interest rate. You’ll find all of the rates on our list in the top 5% of all 3-month CDs nationwide including the absolute best rates we could find regardless of any other CD features.
2. Minimum Deposit Requirement – When looking at the best interest rates, some banks require jumbo-size deposits in order to secure the best APY. We’ve avoided any bank that requires a large deposit barrier.

We would also normally consider the early withdrawal penalty when looking for the best CDs, however, because the term is so short, the penalty is nearly the same for every CD listed. Every bank above is also FDIC insured up to the $250,000 per depositor maximum.

Banks we included in our review are as follows: Affirm, Alaska USA Federal Credit Union, All America Bank, Alliant Credit Union, Ally Bank, Amalgamated Bank, America First Credit Union, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank of the West, Bank5 Connect, Bank7, Barclays, Bask Bank, Bethpage Federal Credit Union, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings, Capital One, Carver Federal Savings Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Climate First Bank, Commerce Bank, Community First Credit Union of Florida, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Credit Human Federal Credit Union, Current, Delta Community Credit Union, Discover Bank, E*TRADE, EverBank (formerly TIAA Bank), Fifth Third Bank, First Foundation, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, GO2bank, GreenState Credit Union, Golden 1 Credit Union, Greenwood, Hope Credit Union, Huntington Bank, Industrial Bank, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, mph.Bank, Nationwide (by Axos), Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Ponce Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, Signature Federal Credit Union, SoFi, State Employees’ Credit Union of North Carolina, State Exchange Bank, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Teachers Federal Credit Union, Truist Bank, U.S. Bank, UFB Direct, Union Bank, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo, Western Alliance Bank and Zynlo Bank.

When Should I Open A 3-Month CD?

The best three-month CD rates are usually a little bit higher than the best savings account interest rates you can find. The difference isn’t very large but it can mean hundreds of dollars in interest if you have a lot of cash to deposit into a CD.

When choosing between a short-term CD and a savings account, it really boils down to whether or not you know the CD will reach maturity. Two points to consider:

1. Liquidity – It’s only a term of three months but your money will be locked up for the entire time. If you’re opening a three-month CD knowing there’s a chance you may have to close it early, a savings account would be a wiser option. The early withdrawal penalty on a short-term CD is almost always all of the interest making a savings account wiser.
2. Interest Rates – The higher the rate, the greater the return, and the best three-month CDs on our list above have stronger APYs than savings accounts. 50-100 basis points, even in the short term can mean the difference in hundreds of dollars in interest earned.

Frequently Asked Questions (FAQ)

Final Thought on the Best 3-Month CDs

When you’re looking at the interest rates available on a 3-month CD, you’ll notice their all pretty similar. If you’re looking to deposit $10,000 (for example), the difference between a 5.55% rate and a 5.35% rate is only $5 in interest over three months.

Don’t let the choices paralyze you for a difference of a couple of bucks. After you know a 3-month CD is right for you, all of the options on our list will suit you well.

Editor’s Note: Make sure to check your local banks for the best 3-month CD rates as well. Sometimes the national brands can’t match what your bank down the street can provide.

The post The Best 3-Month CD Rates (April 2024) appeared first on Doughroller.

The best 6-month CDs will be the ones with an excellent interest rate, reasonable early withdrawal penalties, and low deposit minimums. Our list below includes the best 6-month CDs as well as a few 5-month CDs.

Editor’s Pick

Technology Credit Union offers a 5-month no-penalty CD with a rate of %. The rate is one the best available in the 6-month range and if you need your cash to be liquid, this CD won’t charge you a penny for closing it early. all Technology Credit Union CDs are NCUA insured up to the $250,000 maximum.

• Current APY – %
• Minimum Deposit Requirement – $1
• Early Withdrawal Penalty – None

The Rest of the Best 6-Month CD Rates

1. Western Alliance Bank

Certificate of Deposit

Member FDIC

APY

%

Term

6 Months

Min. Deposit

$1

Our Rating: 4.8

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate
• $1 minimum deposit

Cons

---

• Early withdrawal penalty

Early Withdrawal Penalty

90 days of simple interest

Min. Opening Balance

$1

Why it made our list

One of the best rates available accompanies the Western Alliance Bank 6-month CD. Western Alliance also has a full suite of other CD terms available, all with just a $1 deposit requirement.

What could be better

When breaking the terms of the CD and withdrawing early, a 90-day interest penalty is given.

2. SkyOne Federal Credit Union

Certificate of Deposit

Member NCUA

APY

%

Term

5 Months

Min. Deposit

$1

Our Rating: 4.4

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate
• $1 minimum deposit

Cons

---

• Early withdrawal penalty

Early Withdrawal Penalty

180 days of simple interest

Min. Opening Balance

$1

Why it made our list

SkyOne Federal Credit Union is headquartered in California and is available nationally. Their 5-month CD provides a top APY and requires only a $1 minimum deposit.

What could be better

When closing your SkyOne 56-month CD early, you’ll forfeit any interest earned.

3. BMO Alto

Certificate of Deposit

Member FDIC

APY

%

Term

6 Months

Min. Deposit

$0

Our Rating: 4.4

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate
• No minimum deposit

Cons

---

• Early withdrawal penalty

Early Withdrawal Penalty

90 days of simple interest

Min. Opening Balance

$0

Why it made our list

BMO Alto offers a straightforward 6-month CD with a strong interest rate and no minimum deposit to get started.

What could be better

The early withdrawal penalty with the 6-month BMO CD is 90 days of simple interest.

4. Bask Bank

Certificate of Deposit

Member FDIC

APY

%

Term

6 Months

Min. Deposit

$1,000

Our Rating: 4.5

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate

Cons

---

• Early withdrawal penalty
• $1,000 minimum deposit

Early Withdrawal Penalty

90 days of simple interest

Min. Opening Balance

$1,000

Why it made our list

Bask Bank offers a wide variety of CDs and deposit products. One of their best products is the 6-month CD with an excellent APY.

What could be better

In addition to the early withdrawal penalty of 90 days simple interest, all Bask Bank CDs require a minimum deposit of $1,000.

5. Quontic Bank

Certificate of Deposit

Member FDIC

APY

%

Term

6 Months

Min. Deposit

$500

Our Rating: 4.3

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate

Cons

---

• Early withdrawal penalty
• $500 minimum deposit

Early Withdrawal Penalty

180 days of simple interest

Min. Opening Balance

$500

Why it made our list

Quontic Bank offers a high-yield six-month CD with a $500 minimum deposit required. Quontic has revamped its user interface to make it one of the nicest I’ve used.

What could be better

180 days of simple interest is forfeited if you close your Quontic Bank CD early.

Highest 6-Month CD Rates by APY

We scoured the internet looking for the best 6-month CD rates we could find. After reviewing almost 150 total banks, here are the top 25 6-month CDs with the highest APY.

101 Results

TotalDirectBank
6-month CD

APY
5.51%

Min
$25,000

Max
-

---

Rising Bank
6-Month CD

APY
5.25%

Min
$1,000

Max
$1,000k

---

America First Credit Union
6-11 months CD

APY
5.25%

Min
$500

Max
-

---

Prime Alliance Bank
6-month CD

APY
5.25%

Min
$500

Max
-

---

Banesco USA
BaneSmart 6-Month CD

APY
5.20%

Min
$1,500

Max
-

---

Colorado Federal Savings Bank
6-month CD

APY
5.15%

Min
$5,000

Max
-

---

America First Credit Union
6-11 months Bump-Rate CD

APY
5.10%

Min
$500

Max
-

---

Marcus by Goldman Sachs
6-month CD

APY
5.10%

Min
$500

Max
$1,000k

---

Bask Bank
6-month CD

APY
5.10%

Min
$1,000

Max
-

---

Dow Credit Union
6-month CD

APY
5.10%

Min
$500

Max
-

---

Quontic Bank
6-Month CD

APY
5.05%

Min
$500

Max
-

---

Newtek Bank
6-month CD

APY
5.05%

Min
$2,500

Max
$250k

---

First Internet Bank
6-month High Yield CD

APY
5.03%

Min
$1,000

Max
-

---

Ally Bank
6-Month High Yield CD

APY
5.00%

Min
$1

Max
-

---

American Bank
182-day CD

APY
5.00%

Min
$500

Max
-

---

American Bank
182-day Business CD

APY
5.00%

Min
$500

Max
-

---

Popular Direct
6-month CD

APY
5.00%

Min
$10,000

Max
-

---

LendingClub Bank, N.A.
6-month CD

APY
5.00%

Min
$2,500

Max
$250k

---

Ally Bank
6-month IRA CD

APY
5.00%

Min
-

Max
-

---

NexBank
6-month Online CD

APY
4.96%

Min
$25,000

Max
$100k

---

Western Alliance Bank
6-month CD via Raisin

APY
4.95%

Min
$1

Max
-

---

Luana Savings Bank
6-month Jumbo CD

APY
4.91%

Min
$100,000

Max
-

---

Credit Human Federal Credit Union
6-11 month Share Certificate

APY
4.90%

Min
$500

Max
-

---

NexBank
6-month Standard CD

APY
4.86%

Min
$10,000

Max
$25k

---

NASA Federal Credit Union
6-month CD

APY
4.85%

Min
$1,000

Max
-

---

How We Chose the Best 6-Month CDs

Six-month CDs are short-term, risk-free investments and our list of the best six-month CDs was carefully chosen based on a set of three criteria.

1. Interest Rate (APY) – The most important feature of a short-term CD is the interest rate and our list showcases the best rates available today.
2. Minimum Deposit Requirement – If you have a lot of money available to open a CD, then the minimum requirement probably does not matter to you but for those with less than $10,000 available, it’s important to make sure the highest rate is available when the deposit size is as small as $1.
3. Early Withdrawal Penalty – Even though no one goes into the purchase of a CD thinking they will have to withdraw early, it’s important to consider the penalty for doing so. Most CDs of this length have a full-term penalty but we were able to find a few six-month CDs that will still pay interest if you have to withdraw early.

Every bank above is also FDIC insured up to the $250,000 per depositor maximum.

Banks we included in our review are as follows: Affirm, Alaska USA Federal Credit Union, All America Bank, All In Credit Union, Alliant Credit Union, Ally Bank, Amalgamated Bank, America First Credit Union, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank of the West, Bank5 Connect, Bank7, Barclays, Bask Bank, Bayer Heritage FCU, Bethpage Federal Credit Union, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings, Capital One, Carver Federal Savings Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Climate First Bank, Commerce Bank, Community First Credit Union of Florida, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Credit Human Federal Credit Union, Current, Delta Community Credit Union, Discover Bank, E*TRADE, EverBank (formerly TIAA Bank), Fifth Third Bank, First Foundation, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, GO2bank, GreenState Credit Union, Golden 1 Credit Union, Greenwood, Hope Credit Union, Huntington Bank, Industrial Bank, Interior FCU, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, mph.Bank, Nationwide (by Axos), Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Ponce Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, Signature Federal Credit Union, SkyOne Federal Credit Union, SoFi, State Employees’ Credit Union of North Carolina, State Exchange Bank, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Teachers Federal Credit Union, Technology Credit Union, Truist Bank, U.S. Bank, UFB Direct, Union Bank, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo, Western Alliance Bank and Zynlo Bank.

When Should I Open A 6-Month CD?

Six-month CDs are short-term investment options perfect for those looking for risk-free diversification. The interest rate is almost always the most important thing to consider but there are a few other things to look at before opening a six-month CD.

You’ll want to ensure that you have enough cash available elsewhere before opening a CD because the early withdrawal penalty could wipe away every penny you’ve earned in interest. It’s also important to take note of the rollover structure of the bank you’ve chosen because you may have a very short window to withdraw your funds after maturity before it’s locked in again.

To answer the question of “when” should you open a six-month CD; it’s always best to do so now rather than later. Interest rates are high and every day you’re not guaranteed a rate of return is a day’s worth of interest that slips through your fingers. All CDs here are FDIC insured up to the $250,000 maximum so as long as your deposit stays under this amount, it’s a risk-free rate of return.

Frequently Asked Questions (FAQ)

Final Thought on the Best 6-Month CDs

When comparing six-month CDs to other terms, you’re unlikely to find a big variation in interest rates. They’re similar to others and the important difference is the length of term, not the APY.

If you can, when opening a six-month CD you should also look to open other short-term CDs so that every couple of months, your ladder has a maturing CD that offers you cash if you need it.

Editor’s Note: Make sure to check your local banks for the best 6-month CD rates as well. Sometimes the national brands can’t match what your bank down the street can provide.

The post The Best 6-Month CD Rates (April 2024) appeared first on Doughroller.

Editor’s Pick

Discover® Bank, Member FDIC offers a 12-month CD with a current APY of %. Discover remains one of the world’s most trusted financial brands and offers every other deposit product you need, including savings, checking, and IRAs. All deposits are FDIC insured up to the $250,000 maximum.

• Current APY – %
• Minimum Deposit Requirement – $2,500
• Early Withdrawal Penalty – 6 months of simple interest

The Rest of the Best 12-Month CD Rates

1. GreenState Credit Union via Raisin

Certificate of Deposit

Member NCUA

APY

%

Term

10 Months

Min. Deposit

$1

Our Rating: 4.7

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate
• $1 minimum deposit

Cons

---

• Early withdrawal penalty

Early Withdrawal Penalty

6 months of simple interest

Min. Opening Balance

$1

Why it made our list

GreenState Credit Union is not a well-known bank but it has a terrific rate for a slightly shorter term 10-month CD. With no minimum deposit required, you can start saving with any amount.

What could be better

The penalty for early withdrawal is 180 days of simple interest, which means on a short 10-month term, you’re going to give back all (or almost all) of your earned interest if you have to close early.

2. BrioDirect

Certificate of Deposit

Member FDIC

APY

%

Term

12 Months

Min. Deposit

$500

Our Rating: 4.6

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate

Cons

---

• Requires $500 min. deposit
• Early withdrawal penalty

Early Withdrawal Penalty

3 months of simple interest

Min. Opening Balance

$500

Why it made our list

BrioDirect has a variety of CD terms available, none better than the 12-month promotional CD above. There are no fees to open this CD but it does require a $500 minimum deposit.

What could be better

A CD of this term with BrioDirect includes a simple interest penalty of 3 months if you close your CD early.

3. BMO Alto

Certificate of Deposit

Member FDIC

APY

%

Term

12 Months

Min. Deposit

$0

Our Rating: 4.8

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate
• No minimum deposit

Cons

---

• Early withdrawal penalty

Early Withdrawal Penalty

6 months of simple interest

Min. Opening Balance

$0

Why it made our list

BMO offers one of the highest APYs available for a 12-month CD. Without a deposit requirement or a minimum balance, deposits can be any size, up to the $250,000 FDIC-insured maximum.

What could be better

Make sure your deposit is liquid enough so you don’t have to close your CD early. Doing so incurs a 6-month simple interest penalty, which will wipe out most of your gains.

4. Capital One 360

Certificate of Deposit

Member FDIC

APY

%

Term

12 Months

Min. Deposit

$0

Our Rating: 4.5

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate
• No minimum deposit

Cons

---

• Early withdrawal penalty

Early Withdrawal Penalty

3 months of simple interest

Min. Opening Balance

$0

Why it made our list

Capital One 360 does everything well with its 12-month CD. There’s no minimum deposit requirement and the interest penalty is just 3 months (best on our list, but hopefully one you never activate).

What could be better

This APY isn’t as high as other CDs in this list but Capital One is a well-known bank. For some people name recognition is more important than getting the highest rates.

5. Ally Bank

Certificate of Deposit

Member FDIC

APY

%

Term

12 Months

Min. Deposit

$1

Our Rating: 4.5

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate
• $1 minimum deposit

Cons

---

• Early withdrawal penalty

Early Withdrawal Penalty

60 days of simple interest

Min. Opening Balance

$1

Why it made our list

60 days of simple interest is a low penalty to be charged for closing your CD early. With All Bank and the 12-month CD, you’ll lose less interest than with any other CD here.

What could be better

With the Ally Bank 12-month CD, you’ll find the best features, but it has the lowest interest rate on our list.

Highest 12-Month CD Rates by APY

If the only thing you’re after is the highest possible rate, here are the 25 best 12-month CD rates we could find out of more than 100 reviewed.

142 Results

TotalDirectBank
12-month CD

APY
5.35%

Min
$25,000

Max
-

---

Navy Federal Credit Union
Special EasyStart Certificate12-month CD

APY
5.30%

Min
$50

Max
$3k

---

Prime Alliance Bank
12-month CD

APY
5.25%

Min
$500

Max
-

---

USALLIANCE Financial
12-month CD

APY
5.20%

Min
$500

Max
-

---

Rising Bank
1-Year Term CD

APY
5.20%

Min
$1,000

Max
-

---

Colorado Federal Savings Bank
12-month CD

APY
5.20%

Min
$5,000

Max
-

---

USALLIANCE Financial
12-month IRA CD

APY
5.20%

Min
$500

Max
-

---

MainStreet Bank
1-Year CD

APY
5.15%

Min
$500

Max
-

---

First Internet Bank
12-month High Yield CD

APY
5.15%

Min
$1,000

Max
-

---

Bread Bank
1-year CD

APY
5.15%

Min
$1,500

Max
$1,000k

---

All In Credit Union
12-month Smart Start CD

APY
5.12%

Min
$25

Max
-

---

Finworth
12-months CD

APY
5.10%

Min
$50,000

Max
$240k

---

Banesco USA
BaneSmart 12-Month CD

APY
5.10%

Min
$1,500

Max
-

---

Magnifi Financial
12-month Jumbo CD

APY
5.10%

Min
$100,000

Max
$150k

---

Magnifi Financial
12-month Jumbo CD

APY
5.10%

Min
$150,000

Max
-

---

America First Credit Union
12-17 months CD

APY
5.10%

Min
$500

Max
-

---

Fort Liberty Federal Credit Union
12-months Jumbo Share Certificate

APY
5.10%

Min
$25,000

Max
-

---

NexBank
12-month Online CD

APY
5.09%

Min
$25,000

Max
$100k

---

TAB Bank
12-month CD

APY
5.02%

Min
$1,000

Max
-

---

TAB Bank
12-month Business CD

APY
5.02%

Min
$1,000

Max
-

---

American Bank
12-month CD

APY
5.00%

Min
-

Max
-

---

American Bank
12-month Business CD

APY
5.00%

Min
$500

Max
-

---

Seattle Bank
12-month CD

APY
5.00%

Min
$1,000

Max
$220k

---

BrioDirect
12-month Promotional High Yield CD

APY
5.00%

Min
$500

Max
-

---

Chevron Federal Credit Union
12-months Share Certificate

APY
5.00%

Min
$100,000

Max
-

---

12-Month CD vs High Yield Savings Account

When you look at the interest rates on this page, you may be asking “Why not just keep my money in an online savings account?” High-yield savings accounts have almost identical interest rates to 12-month CD rates. Is there a benefit to locking your money away for one year vs. earning the same interest in a liquid account?

The primary benefit of the one-year CD is in fact, locking your money away. Interest rates are not guaranteed with an online savings account. The money you have saved can be earning 1.30% APY today, and 1.15% APY tomorrow. Locking in a rate means for one full year, you know exactly what you’re getting. For the same reason I pre-pay for my heating oil every year, I also tuck away money in CDs.

How We Chose the Best 12-Month CDs

There were three primary factors that went into rating the best 12-month CDs we could find.

1. Interest Rate (APY) – The most important factor in finding a good CD is the interest rate. The difference of just one percent can be thousands of dollars if you’re able to deposit the FIDC-insured maximum.
2. Minimum Deposit Requirement – The best CDs are the ones that do not require a lot of money to open. The highest deposit minimum on our list is $2,500, which is still quite reasonable.
3. Early Withdrawal Penalty – No one opens a CD with the intent of pulling the money out before it matures, but life happens. Some 12-month CDs will include a 12-month interest penalty, and none of those CDs were included here.

Banks we included in our review are as follows: Affirm, Alaska USA Federal Credit Union, All America Bank, Alliant Credit Union, Ally Bank, Amalgamated Bank, America First Credit Union, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank of the West, Bank5 Connect, Bank7, Barclays, Bask Bank, Bethpage Federal Credit Union, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings, Capital One, Carver Federal Savings Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Climate First Bank, Commerce Bank, Community First Credit Union of Florida, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Credit Human Federal Credit Union, Current, Delta Community Credit Union, Discover Bank, E*TRADE, EverBank (formerly TIAA Bank), Fifth Third Bank, First Foundation, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, GO2bank, GreenState Credit Union, Golden 1 Credit Union, Greenwood, Hope Credit Union, Huntington Bank, Industrial Bank, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, mph.Bank, Nationwide (by Axos), Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Ponce Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Union Bank, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo, Western Alliance Bank and Zynlo Bank.

Frequently Asked Questions (FAQ)

Final Thought on the Best 12-Month CDs

Opening a 12-month CD in a high-rate environment (like the one we’re in now) is always a smart financial decision. Even smarter is creating a CD ladder to ensure that if you need liquidity, you’ll have it in a short amount of time.

All of the best 12-month CDs found above are 100% risk-free when you stay under the $250,000 FDIC-insured maximum so if you’re someone with more than that amount to deposit, make sure you do so by utilizing multiple institutions.

Editor’s Note: Make sure to check your local banks for the best 12-month CD rates as well. Sometimes the national brands can’t match what your bank down the street can provide.

The post The Best 12-Month CD Rates (April 2024) appeared first on Doughroller.

Note that you may find better rates with alternative account types. For example, online savings accounts or no-penalty CDs may offer higher yields.

Editor’s Pick

While it doesn’t have a full two-year term, the Discover® Bank, Member FDIC 18-Month CD offers a strong APY of %. Discover Bank requires a $2,500 minimum deposit (which is reasonable) and also offers other deposit products with competitive interest rates.

• Current APY – %
• Minimum Deposit Requirement – $2,500
• Early Withdrawal Penalty – 6 months of simple interest

The Rest of the Best 2-Year CD Rates

1. Credit Human

Certificate of Deposit

Member NCUA

APY

%

Term

18-23 Months

Min. Deposit

$500

Our Rating: 4.6

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate

Cons

---

• Requires $500 min. deposit
• Early withdrawal penalty

Early Withdrawal Penalty

270 days of simple interest

Min. Opening Balance

$500

Why it made our list

Credit Human is pretty unique in the way they offer CDs. For this CD you can choose a term anywhere between 18 and 23 months and the rate you see applies to any term within that range. This gives you excellent flexibility to build a CD ladder month-to-month with an excellent APY.

What could be better

Credit Human charges a high early withdrawal penalty of 270 days simple interest.

2. Skyla Credit Union

Certificate of Deposit

Member NCUA

APY

%

Term

24 Months

Min. Deposit

$500

Our Rating: 4.5

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate

Cons

---

• Early withdrawal penalty
• $500 deposit requirement

Early Withdrawal Penalty

2% of principal

Min. Opening Balance

$500

Why it made our list

The 2-year CD from Skyla Credit Union offers a high interest rate and low deposit requirement. If you have at least $50,000 to deposit, you can open a jumbo CD for an even higher rate.

What could be better

When you close your CD early, Skyla charges a 2% of principal withdrawal fee. This means you could leave the bank with less money than you started. Bottom line, try to avoid closing your CD early.

3. American First Credit Union via Raisin

Certificate of Deposit

Member NCUA

APY

%

Term

24 Months

Min. Deposit

$1

Our Rating: 4.6

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate
• $1 minimum deposit

Cons

---

• Early withdrawal penalty

Early Withdrawal Penalty

365 days of simple interest

Min. Opening Balance

$1

Why it made our list

American First Credit Union offers a terrific APY on their 2-year CD via Raisin. The minimum deposit is only $1.

What could be better

365 days of simple interest is a big early withdrawal penalty. Make sure when you open a 2-year CD with American First Credit Union, emergency cash is available if needed.

4. Prime Alliance Bank

Certificate of Deposit

Member FDIC

APY

%

Term

24 Months

Min. Deposit

$500

Our Rating: 4.7

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate

Cons

---

• Requires $500 min. deposit
• Early withdrawal penalty

Early Withdrawal Penalty

90 days of simple interest

Min. Opening Balance

$500

Why it made our list

Prime Alliance Bank ranks very high because it’s strong in all three important categories. High interest rate, low required deposit and best of all, only a 90-day simple interest penalty for early withdrawals.

What could be better

The 2-year CD is pretty excellent and it’s hard to find a flaw with Prime Alliance here.

5. Marcus by Goldman Sachs

Certificate of Deposit

Member FDIC

APY

%

Term

24 Months

Min. Deposit

$500

Our Rating: 4.5

★★★★★☆

Apply Now

Details

Pros

---

• No fees
• Excellent rate

Cons

---

• Early withdrawal penalty
• $500 deposit requirement

Early Withdrawal Penalty

180 days of simple interest

Min. Opening Balance

$500

Why it made our list

Marcus by Goldman Sachs is a terrific online bank and it offers a strong interest rate with just about every other deposit and loan product you can imagine.

What could be better

Marcus by Goldman Sachs charges an early withdrawal penalty of 180 days simple interest. Close your CD in the first six months and you’ll walk away with principal only.

Highest 2-Year CD Rates by APY

In addition to the CDs we’ve highlighted above, we also track more than 100 other 2-year CD rates. Below you will find them listed in order of highest to lowest.

121 Results

USALLIANCE Financial
24-month CD

APY
5.00%

Min
$500

Max
-

---

NexBank
24-month Standard CD

APY
4.80%

Min
$10,000

Max
$25k

---

Luana Savings Bank
24-month Jumbo CD

APY
4.76%

Min
$100,000

Max
-

---

Bask Bank
24-month CD

APY
4.75%

Min
$1,000

Max
-

---

Credit Human Federal Credit Union
24-35 month Share Certificate

APY
4.70%

Min
$500

Max
-

---

TAB Bank
24-month CD

APY
4.65%

Min
$1,000

Max
-

---

TAB Bank
24-month Business CD

APY
4.65%

Min
$1,000

Max
-

---

First Internet Bank
24-months High Yield CD

APY
4.61%

Min
$1,000

Max
-

---

Bread Bank
2-Year CD

APY
4.60%

Min
$1,500

Max
$1,000k

---

La Capitol Federal Credit Union
2-Year Super Saver Share Certificate

APY
4.60%

Min
$100,000

Max
-

---

Luana Savings Bank
24-month CD

APY
4.60%

Min
$2,000

Max
$100k

---

Connexus Credit Union
24-month Jumbo Certificate

APY
4.58%

Min
$100,000

Max
-

---

Colorado Federal Savings Bank
24-month CD

APY
4.55%

Min
$5,000

Max
-

---

La Capitol Federal Credit Union
2-Year Mega Saver With One-Time Bump

APY
4.55%

Min
$100,000

Max
-

---

Connexus Credit Union
24-month Certificate

APY
4.53%

Min
$5,000

Max
-

---

Quontic Bank
24-Month CD

APY
4.50%

Min
$500

Max
-

---

MainStreet Bank
2-Year CD

APY
4.50%

Min
$500

Max
-

---

La Capitol Federal Credit Union
2-Year Thrifty Saver Share Certificate

APY
4.50%

Min
$1,000

Max
-

---

American First Credit Union
24-month CD via Raisin

APY
4.50%

Min
$1

Max
-

---

America First Credit Union
24-29 months CD

APY
4.50%

Min
$500

Max
-

---

LendingClub Bank, N.A.
2-year CD

APY
4.50%

Min
$2,500

Max
$250k

---

Bayer Heritage Federal Credit Union
24-month CD

APY
4.50%

Min
$100

Max
-

---

Prime Alliance Bank
24-month CD

APY
4.50%

Min
$500

Max
-

---

Northern Bank Direct
24-month CD

APY
4.50%

Min
$500

Max
$250k

---

Seattle Bank
24-month CD

APY
4.40%

Min
$1,000

Max
$220k

---

Fort Liberty Federal Credit Union
24-months Jumbo Share Certificate

APY
4.40%

Min
$25,000

Max
-

---

Nelnet Bank
24-month CD via Raisin

APY
4.39%

Min
$1

Max
-

---

America First Credit Union
24-29 months Bump-Rate CD

APY
4.35%

Min
$500

Max
-

---

TotalDirectBank
24-month CD

APY
4.34%

Min
$25,000

Max
-

---

Ponce Bank
24-month High Yield CD

APY
4.30%

Min
$1,000

Max
-

---

Chevron Federal Credit Union
24-months Share Certificate

APY
4.30%

Min
$100,000

Max
-

---

Chevron Federal Credit Union
24-months Share Certificate

APY
4.30%

Min
$250,000

Max
-

---

Spectrum Credit Union
24-months Share Certificate

APY
4.30%

Min
$100,000

Max
-

---

Spectrum Credit Union
24-months Share Certificate

APY
4.30%

Min
$250,000

Max
-

---

Alliant Credit Union
24-month Jumbo CD

APY
4.30%

Min
$75,000

Max
-

---

Popular Direct
24-month CD

APY
4.30%

Min
$10,000

Max
-

---

Rising Bank
2-Year Jumbo CD

APY
4.30%

Min
$100,000

Max
-

---

Fort Liberty Federal Credit Union
24-months Share Certificate

APY
4.30%

Min
$500

Max
-

---

NASA Federal Credit Union
24-month CD

APY
4.30%

Min
$1,000

Max
-

---

Langley Federal Credit Union
24-month CD

APY
4.25%

Min
$500

Max
-

---

Rising Bank
2-Year CD

APY
4.25%

Min
$1,000

Max
-

---

Crescent Bank
24-month CD

APY
4.25%

Min
$1,000

Max
-

---

XCEL Federal Credit Union
24-months CD

APY
4.20%

Min
$500

Max
-

---

Alliant Credit Union
24-month CD

APY
4.20%

Min
$1,000

Max
-

---

Newtek Bank
24-month CD

APY
4.20%

Min
$2,500

Max
$250k

---

Chevron Federal Credit Union
24-months Share Certificate

APY
4.20%

Min
$50,000

Max
-

---

Spectrum Credit Union
24-months Share Certificate

APY
4.20%

Min
$50,000

Max
-

---

Marcus by Goldman Sachs
2-Year CD

APY
4.20%

Min
$500

Max
$1,000k

---

Synchrony Bank
24-month CD

APY
4.20%

Min
$1

Max
-

---

NASA Federal Credit Union
24-month Bump Rate CD

APY
4.20%

Min
$1,000

Max
-

---

Synchrony Bank
24-month IRA CD

APY
4.20%

Min
-

Max
-

---

All In Credit Union
24-month CD

APY
4.18%

Min
$1,000

Max
-

---

Idabel National Bank
24-Month CD via Raisin

APY
4.15%

Min
$1

Max
-

---

Chevron Federal Credit Union
24-months Share Certificate

APY
4.10%

Min
$500

Max
-

---

Spectrum Credit Union
24-months Share Certificate

APY
4.10%

Min
$500

Max
-

---

Dow Credit Union
24-month CD

APY
4.09%

Min
$500

Max
-

---

American Bank
24-month CD

APY
4.00%

Min
$500

Max
-

---

American Bank
24-month Business CD

APY
4.00%

Min
$500

Max
-

---

Discover® Bank
24-month High Yield CD

APY
4.00%

Min
$2,500

Max
-

---

Discover® Bank
24-month IRA CD

APY
4.00%

Min
$2,500

Max
-

---

EverBank
2-Year CD

APY
4.00%

Min
$1,000

Max
-

---

American Express Bank
24-Month CD

APY
4.00%

Min
$1

Max
-

---

Citizens Access
2-Year Online High Yield CD

APY
4.00%

Min
$5,000

Max
-

---

Signature Federal Credit Union
24-month CD

APY
4.00%

Min
$500

Max
-

---

Capital One Bank
360 24-month CD

APY
4.00%

Min
$1

Max
-

---

BMO
24-month Standard CD*

APY
4.00%

Min
$1,000

Max
-

---

BMO Alto
24-month Online CD

APY
4.00%

Min
-

Max
-

---

Skyla Credit Union
24-month Jumbo CD

APY
3.90%

Min
$50,000

Max
-

---

Seattle Bank
24-month Bump-Up CD

APY
3.85%

Min
$1,000

Max
$220k

---

United States Senate Federal Credit Union
24-months Plus Jumbo CD

APY
3.82%

Min
$200,000

Max
-

---

United States Senate Federal Credit Union
24-months Plus Jumbo Business CD

APY
3.82%

Min
$200,000

Max
-

---

EverBank
2.5 Year CD

APY
3.80%

Min
$1,000

Max
-

---

Skyla Credit Union
24-month CD

APY
3.80%

Min
$500

Max
-

---

United States Senate Federal Credit Union
24-months Jumbo CD

APY
3.77%

Min
$100,000

Max
$200k

---

United States Senate Federal Credit Union
24-months Jumbo Business CD

APY
3.77%

Min
$100,000

Max
$200k

---

Ally Bank
2-Year Raise Your Rate CD

APY
3.75%

Min
$1

Max
-

---

Forbright
24-month Online CD

APY
3.75%

Min
$1,000

Max
-

---

Teachers Federal Credit Union
24-month CD

APY
3.75%

Min
$1,000

Max
$100k

---

Affinity Plus Federal Credit Union
24-month CD

APY
3.75%

Min
$500

Max
-

---

United States Senate Federal Credit Union
24-months CD

APY
3.72%

Min
$1,000

Max
$100k

---

United States Senate Federal Credit Union
24-months Business CD

APY
3.72%

Min
$1,000

Max
$100k

---

Synchrony Bank
24-month Bump-Up CD

APY
3.60%

Min
$1

Max
-

---

Interior Federal Credit Union
24-months

APY
3.56%

Min
$500

Max
-

---

Credit Union of the Rockies
24-month CD

APY
3.50%

Min
$500

Max
-

---

Credit Union of the Rockies
24-month Baby-Jumbo CD

APY
3.50%

Min
$50,000

Max
-

---

MainStreet Bank
2-Year Business CD

APY
3.50%

Min
$500

Max
-

---

HSBC
24-months Online CD

APY
3.50%

Min
$1,000

Max
$2,000k

---

Magnifi Financial
24 month Boom! CD Youth Account

APY
3.30%

Min
$250

Max
$8k

---

Magnifi Financial
24-month Jumbo CD

APY
3.25%

Min
$150,000

Max
-

---

Finworth
2-Year CD

APY
3.20%

Min
$50,000

Max
$240k

---

Magnifi Financial
24-month Jumbo CD

APY
3.15%

Min
$100,000

Max
$150k

---

Magnifi Financial
24-month CD

APY
3.10%

Min
$50,000

Max
$100k

---

NuVision Credit Union
2-Year Jumbo CD

APY
3.05%

Min
$100,000

Max
-

---

Magnifi Financial
24-month CD

APY
3.05%

Min
$25,000

Max
$50k

---

Liberty Federal Credit Union
2-Year CD

APY
3.00%

Min
$1,000

Max
-

---

NuVision Credit Union
2-Year CD

APY
3.00%

Min
$50,000

Max
-

---

Magnifi Financial
24-month CD

APY
3.00%

Min
$500

Max
$25k

---

Barclays Bank
24-month CD

APY
3.00%

Min
-

Max
-

---

NuVision Credit Union
2-Year CD

APY
2.95%

Min
$25,000

Max
-

---

NuVision Credit Union
2-Year CD

APY
2.90%

Min
$1,000

Max
-

---

Thrivent Credit Union
24-month CD

APY
2.80%

Min
$1,000

Max
-

---

UNIFY Financial Credit Union
24-month Jumbo CD

APY
2.70%

Min
$100,000

Max
-

---

UNIFY Financial Credit Union
24-month CD

APY
2.55%

Min
$40,000

Max
$54k

---

Bank Financial
2-Year CD

APY
2.50%

Min
$1,000

Max
-

---

Bank Financial
Goal Setter 2-Year CD

APY
2.50%

Min
$1,000

Max
-

---

UNIFY Financial Credit Union
24-month CD

APY
2.40%

Min
$100

Max
$54k

---

BrioDirect
24-month High Yield CD

APY
2.30%

Min
$500

Max
-

---

EverBank
2-Year Business CD

APY
2.20%

Min
$1,500

Max
-

---

Zeal Credit Union
24-months Jumbo CD

APY
2.10%

Min
$100,000

Max
-

---

Live Oak Bank
2-Year CD

APY
2.00%

Min
$2,500

Max
$250k

---

Live Oak Bank
2-Year Business CD

APY
2.00%

Min
$2,500

Max
$250k

---

Zeal Credit Union
24-months CD

APY
2.00%

Min
$25,000

Max
$100k

---

Citibank
2-Year Fixed Rate CD

APY
2.00%

Min
$500

Max
-

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Zeal Credit Union
24-months CD

APY
1.90%

Min
$1,000

Max
$25k

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Third Federal Savings & Loan
24-months CD

APY
1.50%

Min
$50

Max
-

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American First Credit Union
24-month CD

APY
1.20%

Min
$1,000

Max
-

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Continental Bank
2-Year High Yield CD

APY
0.85%

Min
$25,000

Max
-

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Bank Financial
Goal Setter 2-Year CD

APY
0.75%

Min
$25

Max
$1k

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ConnectOne Bank
24-month CD

APY
0.50%

Min
$500

Max
-

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CIT Bank
2-Year Term CD

APY
0.40%

Min
$1,000

Max
-

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CIT Bank
2-Year Jumbo CD

APY
0.40%

Min
$100,000

Max
-

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