Best CD Rates for May 2022

Compare today’s best CD rates from the largest banks in the United States and the best-fixed annuity rates.

Which Banks Have the Best CD Rates?

Compare today’s best bank CD rates from the largest banks and credit unions in the United States as well as best-fixed annuity rates. Our mission is to help you find the best-guaranteed interest rate in a savings vehicle that matches your goals and objectives.

Bank3 Month6 Month1-Year2-Year5-Year
Edward Jones0.15%0.30%0.60%1.15%1.90%
Banterra Bank1.76%2.16%1.81%
Amarillo National Bank0.30%0.40%0.75%1.40%1.70%
Teachers Federal Credit Union0.25%0.25%0.65%1.00%1.65%
First National Bank of America0.80%1.00%1.50%
Ardent Credit Union0.25%0.25%0.55%0.75%1.50%
American Heritage FCU0.31%0.36%0.60%0.76%1.50%
Genisys Credit Union0.40%0.50%0.85%1.40%
Ashland Credit Union0.35%0.45%0.70%1.40%
Keesler Federal Credit Union0.25%0.35%0.60%0.85%1.35%
PENFED Credit Union0.45%0.85%1.25%1.30%
LiveOak Bank0.60%0.85%1.10%1.30%
CoVantage Credit Union0.25%0.35%0.70%0.90%1.30%
Arrowhead Credit Union0.25%0.30%0.45%1.30%
Alabama Power Credit Union0.50%0.75%0.75%0.80%1.26%
Parke Bank0.35%0.55%0.75%1.25%
Community First Credit Union0.30%0.55%0.75%0.90%1.25%
Coastal Federal Credit Union0.60%0.60%0.60%1.25%
Affinity Plus FCU0.30%0.35%0.55%0.75%1.25%
Abound Credit Union0.25%0.40%0.50%0.75%1.25%
Connexus Credit Union0.61%0.71%1.21%
Quontic Bank0.55%0.60%0.95%1.20%
Commonwealth Credit Union0.40%0.65%0.85%1.20%
Advia Credit Union0.15%0.20%0.35%0.45%1.20%
Synchrony Bank0.15%0.25%0.60%0.70%1.15%
Marcus by Goldman Sachs0.15%0.65%0.70%1.15%
MAC Federal Credit Union0.45%0.75%0.95%1.15%
First Tech Credit Union0.40%0.60%0.80%1.15%
Capital Credit Union0.15%0.45%0.65%0.80%1.15%
Members Heritage CU0.10%0.25%0.45%0.60%1.11%
California Credit Union0.30%0.40%0.50%0.70%1.11%
TruMark Financial CU0.30%0.65%0.75%1.10%
State Employee0.30%0.45%0.75%1.10%
Latino Community CU0.25%0.40%0.60%1.10%
Holy Rosary Credit Union0.25%0.30%0.45%1.10%
Evansville Teachers FCU0.35%0.45%0.55%0.80%1.10%
Eastman Credit Union0.30%0.45%0.65%0.70%1.10%
Apple Federal Credit Union0.35%0.60%0.75%1.10%
Alpine Bank0.05%0.25%0.40%1.10%
LGE Community Credit Union0.36%0.51%0.70%1.07%
RiverFall Credit Union0.40%0.60%0.75%1.06%
First Internet Bank0.30%0.50%0.65%0.75%1.06%
Alabama Credit Union0.40%0.55%0.70%1.06%
Spire Credit Union0.10%0.25%0.40%0.50%1.05%
L&N Federal Credit Union0.30%0.40%0.50%0.70%1.05%
Atlanta Postal Credit Union0.35%0.40%0.60%0.70%1.05%
Metro Credit Union0.25%0.35%0.35%0.75%1.04%
Welcome Credit Union0.25%0.35%1.00%
Vystar Credit Union0.25%0.30%0.45%0.60%1.00%
University of Kentucky FCU0.30%0.40%0.50%0.70%1.00%
Travis Credit Union0.35%0.50%0.70%1.00%
Transcend Credit Union0.10%0.20%0.30%0.40%1.00%
SRP Credit Union0.20%0.40%1.00%
Space Coast Credit Union0.15%0.40%0.50%1.00%
Safe Credit Union0.15%0.30%0.45%0.50%1.00%
Redwood Credit Union0.30%0.45%0.65%1.00%
Police and Fire FCU0.30%0.35%0.50%0.70%1.00%
Patriot Federal Credit Union0.05%0.10%0.15%0.50%1.00%
NASA Federal Credit Union0.40%0.45%0.65%1.00%
Members First Credit Union0.20%0.60%0.80%1.00%
Landmark Credit Union0.20%0.30%0.40%0.60%1.00%
Franklin Mint FCU0.20%0.30%0.50%0.65%1.00%
First Guaranty Bank0.15%0.30%0.40%0.55%1.00%
Discover Bank0.55%0.65%1.00%
California Coast Credit Union0.10%0.20%0.30%0.50%1.00%
Byline Bank0.03%0.05%0.10%0.50%1.00%
Bloom Credit Union0.10%0.25%0.50%1.00%
Allin Credit Union0.35%0.40%0.60%0.70%1.00%
Alliant Credit Union0.65%0.70%1.00%
Capital One0.25%0.60%0.70%1.00%
Bethpage FCU0.40%0.40%0.60%1.10%1.00%
5Point Credit Union0.15%0.25%0.45%0.65%1.00%
Tinker Federal Credit Union0.40%0.45%0.55%0.65%0.95%
Suncoast Credit Union0.30%0.40%0.55%0.95%
SchoolsFirst Credit Union0.20%0.30%0.45%0.60%0.95%
LCNB National Bank0.15%0.40%0.95%
Hiway Credit Union0.15%0.25%0.45%0.50%0.95%
Gulf Coast Bank & Trust Co.0.05%0.20%0.40%0.95%
Frankenmuth Credit Union0.10%0.15%0.25%0.35%0.95%
Delta Community Credit Union0.35%0.50%0.60%0.95%
Credit Union of Denver0.05%0.30%0.40%0.55%0.95%
CommunityWide FCU0.70%0.75%0.80%0.95%
Associated Credit Union0.30%0.50%0.60%0.95%
Wright-Patt Credit Union0.40%0.60%0.75%0.90%
Together Credit Union0.25%0.40%0.55%0.90%
Sun East FCU0.15%0.25%0.50%0.60%0.90%
Robins Financial CU0.60%0.65%0.75%0.90%
Redstone Federal Credit Union0.15%0.20%0.45%0.90%
Navy Federal0.40%0.45%0.55%0.55%0.90%
Navigant Credit Union0.20%0.40%0.90%
Merck Sharp FCU0.15%0.30%0.50%0.65%0.90%
GreenWood Credit Union0.20%0.30%0.50%0.50%0.90%
Golden 10.15%0.30%0.45%0.60%0.90%
Georgia’s Own Credit Union0.30%0.50%0.60%0.90%
Fort Bragg Federal Credit Union0.15%0.20%0.50%0.60%0.90%
Educators Credit Union0.10%0.20%0.30%0.50%0.90%
Diamond Credit Union0.15%0.25%0.50%0.65%0.90%
Columbia Bank0.05%0.25%0.65%0.90%
Citadel Credit Union0.15%0.25%0.45%0.60%0.90%
Altura Credit Union0.20%0.25%0.35%0.40%0.90%
Eldorado Savings Bank0.10%0.16%0.20%0.40%0.90%
AmeriCU CU0.03%0.19%0.68%0.75%0.88%
Utilities Employees Credit Union0.40%0.45%0.55%0.85%
TVA Credit Union0.30%0.35%0.55%0.85%
Truliant Federal Credit Union0.05%0.20%0.35%0.40%0.85%
Service Credit Union0.40%0.45%0.50%0.60%0.85%
Ridgewood Bank0.30%0.35%0.45%0.60%0.85%
Philadelphia Federal Credit Union0.10%0.25%0.40%0.50%0.85%
MAX Credit Union0.30%0.35%0.55%0.85%
Lake Michigan Credit Union0.15%0.15%0.30%0.40%0.85%
Capital City Bank0.45%0.50%0.85%
Beehive Federal Credit Union0.15%0.20%0.30%0.50%0.85%
Alma Bank0.25%0.25%0.40%0.55%0.85%
ENT Credit Union0.19%0.21%0.29%0.37%0.84%
Virginia Credit Union0.25%0.40%0.50%0.80%
Spectrum Credit Union0.50%0.50%0.55%0.55%0.80%
Sallie Mae0.30%0.60%0.60%0.80%
Popular Bank0.15%0.35%0.80%
Peach State FCU0.25%0.35%0.45%0.80%
Members 1st Federal Credit Union0.15%0.20%0.35%0.50%0.80%
Honor Credit Union0.10%0.10%0.25%0.45%0.80%
Class Act FCU0.20%0.30%0.40%0.50%0.80%
Chevron Federal Credit Union0.50%0.50%0.55%0.55%0.80%
Catholic & Community Credit Union0.15%0.35%0.45%0.80%
Canvas Credit Union0.15%0.30%0.45%0.80%
Camden National Bank0.15%0.15%0.25%0.60%0.80%
Bellwether Community CU0.25%0.30%0.50%0.80%
Ally Bank0.20%0.20%0.55%0.80%
Achieva Credit Union0.20%0.30%0.40%0.80%
A+ Federal Credit Union0.25%0.35%0.50%0.80%
Widget Financial0.30%0.35%0.50%0.75%
Washington Trust0.10%0.10%0.10%0.20%0.75%
Vantage Credit Union0.10%0.15%0.25%0.75%
Service 1st Credit Union0.10%0.15%0.25%0.45%0.75%
Oregon Community Credit Union0.25%0.30%0.35%0.75%
Mountain America Credit Union0.20%0.25%0.45%0.75%
GreenState Credit Union0.20%0.30%0.40%0.40%0.75%
First Community Bank0.20%0.25%0.45%0.75%
Fidelity Bank & Trust0.10%0.15%0.20%0.30%0.75%
Cyprus Credit Union0.25%0.30%0.40%0.75%
CorTrust Bank0.05%0.15%0.20%0.30%0.75%
Centra Credit Union0.15%0.25%0.35%0.45%0.75%
Baltimore County Employees FCU0.30%0.40%0.75%
APCI Federal Credit Union0.15%0.25%0.40%0.45%0.75%
American Eagle Federal CU0.15%0.15%0.20%0.30%0.75%
Lone Star National Bank0.20%0.25%0.30%0.41%0.71%
United Federal Credit Union0.10%0.15%0.20%0.40%0.70%
Sound Credit Union0.15%0.20%0.30%0.40%0.70%
Riegelwood Federal CU0.10%0.20%0.35%0.70%
Park Community Credit Union0.30%0.30%0.35%0.70%
Members Credit Union0.25%0.30%0.50%0.70%
Limelight Bank0.45%0.55%0.60%0.70%
Langley Federal Credit Union0.20%0.35%0.60%0.60%0.70%
Insight Credit Union0.10%0.20%0.30%0.40%0.70%
Georgia United CU0.15%0.20%0.30%0.45%0.70%
Freedom Credit Union0.15%0.20%0.35%0.70%
Erie Federal Credit Union0.30%0.30%0.40%0.70%
Credit Union 10.25%0.30%0.40%0.70%
American Airlines Credit Union0.30%0.30%0.70%
Alaska Federal Credit Union0.15%0.25%0.40%0.40%0.70%
Accessbank TX0.10%0.20%0.25%0.40%0.70%
Community National Bank0.29%0.37%0.68%
Bank of Missouri0.16%0.26%0.36%0.43%0.66%
Univest Bank0.05%0.35%0.45%0.65%
Security Service Credit Union0.15%0.25%0.35%0.65%
Piedmont Advantage Credit Union0.10%0.20%0.25%0.40%0.65%
First National Bank0.10%0.15%0.25%0.35%0.65%
Eglin Federal Credit Union0.25%0.30%0.50%0.50%0.65%
Dacotah Bank0.05%0.05%0.10%0.20%0.65%
Credit Union of America0.20%0.30%0.40%0.50%0.65%
Citizens and Farmers Bank0.20%0.25%0.30%0.40%0.65%
Belco Community Credit Union0.08%0.10%0.25%0.40%0.65%
Appliance Credit Union0.05%0.10%0.15%0.65%
Veridian CU0.30%0.40%0.60%
Union Bank & Trust0.15%0.15%0.25%0.45%0.60%
Tyndall Federal Credit Union0.25%0.35%0.60%
Southern Bank0.10%0.20%0.60%
Somerset Trust Company0.10%0.10%0.20%0.35%0.60%
Signature Bank0.11%0.16%0.30%0.60%
Self Help Credit Union0.10%0.15%0.40%0.45%0.60%
Security Bank of Kansas City0.05%0.10%0.25%0.40%0.60%
Marine Federal Credit Union0.15%0.30%0.35%0.40%0.60%
Lake City Bank0.15%0.25%0.60%
Kearny Bank0.05%0.05%0.10%0.15%0.60%
Community Choice Credit Union0.10%0.15%0.25%0.30%0.50%

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Best 3 Month CD Rates

Best 3-Month CD RatesRateTermMinimum
Spectrum Credit Union 0.50% APY3 Months$500.00
Navy Federal Credit Union0.40% APY3 Months$1,000.00
Chevron Federal Credit Union0.50% APY3 Months$500.00
Luana Savings Bank0.55% APY3 Months$1,000.00

Best 12 Month CD Rates

Best 12 Month CD RatesRateMinimum
Live Oak 1.75% APY$2,500.00
Limelight Bank1.25% APY$1,000.00
Lafayette Federal Credit Union0.80% APY$5,000.00
CommunityWide FCU0.75% APY$1,000.00

Best 2 Year CD Rates

Best 2-Year CD RatesRateTermMinimum
Connexus Credit Union 2.86% APY24 Months$5,000
Oceanview Harbourview Annuity2.85% APY24 Months$20,000
Popular Direct2.30% APY 24 Months$10,000
BMO Harris2.25% APY24 Months$1,000
PenFed Credit Union1.25% APY24 Months$1,000

Best 3 Year CD Rates

Best 3-Year CD RatesRateTermMinimum
Sagicore Milestone 33.50% APY36 Months$100,000
Connexus Credit Union 3.01% APY36 Months$5,000
My Banking Direct1.40% APY36 Months$500
Lafayette Federal Credit Union1.01% APY36 Months500

Best 4 Year CD Rates

Best 4-Year CD RatesRateTermMinimum
Sagicor3.70% APY48 Months$100,000
Connexus Connexus Credit Union Credit Union 3.11% APY48 Months$5,000
NASA Federal Credit Union1.70% APY48 Months$500
Teachers Federal Credit Union1.30% APY48 Months$1000

Best 5 Year CD Rates

Best 5-Year CD RatesRateTermMinimum
Milestone 53.85% APY60 Months$100,000
Connexus Credit Union3.21% APY60 Months$5,000
BMO Harris2.80% APY60 Months$1,000
Teachers Federal Credit Union1.65% APY60 Months$1000

Today's Best Guaranteed Annuity Rates

Fixed annuity rates are guaranteed for a set number number of years.

Term InsurerAnnuityRatingRateApply
2 Years Oceeanview logo OceanviewHarbourview 2A-2.85%
3 Years Sagicor life logo SagicorMilestone 3A-3.50%
4 Years Sagicor life logo SagicorMilestone 4A-3.70%
5 Years Security sentinel life logo Sentinel SecurityPersonal ChoiceB++4.05%
6 Years Oceeanview logo OceanviewHarbourview 6A-4.30%
7 Years Security sentinel life logo Sentinel SecurityPersonal ChoiceB++4.10%
8 Years Oxford life logo Oxford LifeMulti-Select A3.80%
9 Years Oxford life logo Oxford LifeMulti-Select A3.65%
10 Years Atlantic coast life logo Atlantic Coast LifeSafe HavenB++4.15%

What is a CD (Certificate of Deposit)?

Definition: A CD, or certificate of deposit, is a bank account with a fixed interest rate that’s generally higher than that of a regular savings account, and a fixed date of withdrawal, known as the maturity date. Common terms range from three months to five years.

Pros: The ability to lock in rates when they’re high is one of the most attractive features of a CD, especially since regular savings accounts have variable rates subject to change at any time. Even outside of high-rate environments, though, CDs provide a safe, federally insured place for short-term savings.

Cons: You’ll generally have to pay a penalty if you withdraw your money before a CD matures; the penalty can be equal to several months or a year’s worth of interest.

What else to consider: Fixed Annuities provide guaranteed rates for a set number of years and typically pay higher interest rates than a CD.

How Much Interest Do CD's Pay?

Use our compound interest calculator to see how much a Certificate of Deposit will pay you monthly or annually. 

How to Calculate a CD Rate's Real Rate of Return

In 18 of the past 30 years, CDs have had a negative return (after taking into account the impact of taxes and inflation), and in three of the positive years, they earned less than a 1% real rate of return.

Have you considered the impact that taxes have on interest?  Or, have you accounted for the impact inflation may have on your overall rate of return?

Generally, the interest received in these types of vehicles may not keep pace with inflation. This could mean lower purchasing power for you over time. Also, at renewal, a new rate along with a new withdrawal penalty may apply.

Here’s a quick way to determine your CD’s real rate of return:

Diagram showing how to calculate the real rate of return of a cd rate using a 3-step process.

Frequently Asked Questions

While not FDIC insured, State Guaranty Associations provide a safety net for their state’s annuity policyholders. These Guaranty Associations guarantee policyholders continue to receive coverage (up to the limits spelled out by state law) even if their insurer is declared insolvent. Source: “Learn to Invest, Investment Types, Annuities, Fixed Annuities.”  Financial Industry Regulatory Authority (FINRA).  Visit FINRA’s Fixed Annuities Webpage

You can not lose money in a fixed annuity. However, guarantees are backed by the claims-paying ability of the issuing insurance company so it is important to consider an insurer’s financial rating when shopping for an annuity.

Fixed Annuities do not have any fees or expenses unless you add an additional rider that was not mentioned on this page.

A no-penalty CD is a type of CD that doesn’t have a penalty for withdrawing money before the term ends. It can be appealing if you want the traditionally higher yield of a CD, compared to regular savings accounts, but you might need the money sooner than you expect.

Most CDs have an early withdrawal penalty that tends to range from several months to a year’s worth of interest earned, depending on the CD term length and the bank’s policy. No-penalty CDs are the only type of CD that lets you withdraw money from a CD early without a fee.

Key Take-Aways

A certificate of deposit is very similar to a fixed annuity. If you are looking for a safe and steady way to grow your retirement savings you can learn more about fixed CD Type Annuities here.

If you would like a personalized annuity quote you can contact us or use one of our fixed annuity calculators to see how much an annuity would pay you.

The Federal Reserve and CD Rates

Federal reserve impacts cd rates: picture of the u. S. Federal reserve building in washington dc

The Federal Reserve’s interest rate decisions can impact the rates that banks offer on CDs. When the Fed raises or lowers the federal funds rate, banks typically respond by moving savings and money market account yields in the same direction.

CDs tend to track Treasuries closely. In 2019, a year when the Fed lowered rates three times, CDs generally decreased before or after a Fed rate cut.

Two emergency Fed rate cuts in March, and decreasing Treasury, are reasons many high-yield CDs decreased in 2020.

Top Bank CD Rate Reviews

My Annuity Store, Inc. pulled the CD rate information listed on this page from Rates are not guaranteed, can change frequently and may not be available in all states. These rates are meant for general education and comparison purposes only.

The rate information above is obtained by from the listed institutions. or cannot guarantee the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on

All rates are subject to change without notice and may vary branch to branch. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers’ terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.

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