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Best CD Accounts Of July 2024

Top CD accounts with competitive rates & secure savings

High interest rates for maximum growth

Flexible term lengths to fit your goals

FDIC insured for peace of mind

Barclays Logo

9.7

4.9/5

Barclays Online CDs

Our #1 CD choice for 2024

Earn 5.00% APY With 12 Month CD

Our #1 choice for 2024

No minimum account balance

Earn 5.00% APY With 12 Month CD

First Citizens Bank Logo

9.5

4.7/5

First Citizens Bank

Earn 5.00% APY with 11-month CD

Earn 5.00% APY with 11-month CD

Quontic Logo

9.3

4.6/5

Quontic

Earn 5.50% Annual Percentage Yield

Earn 5.50% APY with a $500 minimum

Rising Bank Logo

9.2

4.6/5

Rising Bank

Earn 4.95% APY with $1,000 minimum

Earn 4.95% APY with $1,000 minimum

Community Feedback
Based on the past 30 days
97%
Product Features
Based on our editorial reviews
95%
Community Feedback
Based on the past 30 days
92%
Product Features
Based on our editorial reviews
90%
Community Feedback
Based on the past 30 days
87%
Product Features
Based on our editorial reviews
86%
Community Feedback
Based on the past 30 days
86%
Product Features
Based on our editorial reviews
82%
Community Feedback
Based on the past 30 days
83%
Product Features
Based on our editorial reviews
81%

250,000+ people

have chosen a new account using SmartWealthTrends!​

Our Ratings:

The rating system for the best CD accounts consists of a combination of the following 3 components:

When selecting a CD (Certificate of Deposit) account, the primary consideration is the interest rate. Look for CD accounts offering the highest rates to maximize your returns over the fixed term. Higher interest rates can significantly increase your savings by the time the CD matures.

Consider the variety of term lengths available. CD accounts typically offer terms ranging from a few months to several years. Choose a term length that aligns with your financial goals and liquidity needs, ensuring you can access your funds when necessary.

It’s important to understand the penalties for early withdrawal before committing to a CD account. Some CDs have hefty penalties if you need to access your funds before the maturity date. Finding an account with more lenient penalties can provide greater flexibility.

Best CD Account Of 2024

Barclays Logo

9.7

4.9/5

Barclays

Our #1 CD choice for 2024

Earn 5.00% APY With 12 Month CD

Earn 5.00% APY With 12 Month CD

How We Picked These CD Accounts

  1. Interest Rates: We prioritize CD accounts with the highest Annual Percentage Yields (APYs). High interest rates mean better returns on your savings over time.
  2. Term Options: We look for banks that offer a variety of term lengths, allowing you to choose a CD that aligns with your financial goals, whether short-term or long-term.

     

  3. Compounding Frequency: The frequency of interest compounding significantly affects the growth of your savings. We favor CDs with more frequent compounding, such as daily or monthly, to maximize your earnings.

     

  4. Fees and Penalties: Hidden fees and severe early withdrawal penalties can erode earnings. We select CD accounts with minimal or no fees and reasonable penalty structures for early withdrawals.

     

  5. Minimum Deposit Requirements: Accessibility is key. We prefer banks that have low or no minimum deposit requirements, making it easier for everyone to start saving.

  6. Bank Reputation and Customer Service: Trust and reliability are crucial when choosing a bank. We evaluate the bank’s reputation, customer service quality, and overall user experience to ensure you’re banking with a reliable institution.

Which Account Is Right For You?

Savings
VS
Checking
VS
CD
Earns interest
VS
VS
FDIC-insured
VS
VS
ATM access
VS
VS
Debit card & check writing access
VS
VS
Higher yield potential
VS
VS
Our Top Choice:
idubQQYibp 1721353886968
VS
idZgaH4GRe 1721248137106
VS
idjy1COjQB 1720432002403

How to Choose the Right CD Account

  1. Research and Compare: Use resources like SmartWealthTrends.com to compare the best CD accounts. Look for the highest APYs, best terms, and most favorable conditions.

  2. Select a Bank: Choose a bank that offers the CD terms and conditions that best fit your needs. Ensure the bank is FDIC-insured for added security.

  3. Open an Account: Open your CD account by visiting the bank’s website or branch. You’ll need to provide personal information such as your name, address, Social Security number, and funding source.

  4. Fund Your CD: Transfer the required deposit amount to fund your CD. Ensure to do this within the timeframe specified by the bank to avoid any issues.

  5. Monitor Your CD: Track your CD’s maturity date and any interest earned. Decide in advance whether to renew the CD or withdraw your funds upon maturity.

Our Top CD Options As Of July 22, 2024

Bank

APY

Explore

Top Online Checking Accounts

Upgrade Rewards Checking is their best banking product. It has no monthly maintenance fees, no ATM fees, and no transfer fees. Upgrade will pay you back for any ATM fee charged by another institution for debit card withdrawals in the United States–up to five times per month! It also offers a debit card with up to 2% cashback for everyday purchases.

Pros

Cons

The Current Account is a free checking/savings account hybrid. If you are okay with having your funds in one spot and want access to budgeting resources and savings features, this account could be the right fit for you.

 

With Current, you can earn up to 4% APY through a savings feature called a Savings Pod. You can use a Savings Pod to save money for different goals, and each account has three Saving Pods. Unlike other bank accounts with only one saving category, we give you more control over your finances by letting you choose where to put your money.

 

With the Current Account, you'll receive your direct deposit two days early and earn cash back on every debit card purchase and other nifty features most traditional banks do not offer.

Pros

Cons

If you're looking for a high-yielding checking account, we recommend taking advantage of Quontic's current offer. You can earn up to 1.10% on balances of $150,000 or less if you make at least 10 qualifying transactions each month–and 0.35% APY on the portion of your balance above $150,000 (plus 1.01% APY on the first $150,000). This is a highly competitive option that will allow you to grow your money without having to move it into a separate account.

Pros

Cons

Disclosures

Quontic:


Withdrawals before the maturity date are subject to penalties

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