- Last updated December 2024
Best CD Accounts Of December 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
9.7
Barclays Online CDs
Our #1 CD choice for 2024
Earn 5.10% APY With 9-Month CD
- Interest that compounds daily & flexible term options
- No hidden monthly fees
- Easy funds transfers
Our #1 choice for 2024
No minimum account balance
Earn 5.10% APY With 9-Month CD
- No minimum account balance
9.5
Quontic
Earn 5.10% APY with 6-month CD
- No monthly service fee
- Only $500 required to open
- 5 terms available
9.4
NexBank
Earn 5.15% APY with 1-year CD
- FDIC insured & no fees
- $1 minimum deposit
- 24/7 online access to funds
9.2
First Citizens Bank
Earn 5.00% APY with 11-month CD
- Start with as little as $5,000
- Funds are FDIC insured up to $250,000
- Transfer funds easily from checking
8.9
Rising Bank
Earn 4.85% APY with $1,000 minimum
- Quarterly interest compounding for optimal growth
- No monthly maintenance fees
- Minimum deposit of $1,000
Community Feedback
Product Features
Community Feedback
Product Features
Community Feedback
Product Features
Community Feedback
Product Features
Community Feedback
Product Features
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
9.7
Barclays
Our #1 CD choice for 2024
Earn 5.10% APY With 9-Month CD
- Interest that compounds daily & flexible term options
- No hidden monthly fees
- Easy funds transfers
How We Picked These CD Accounts
- Interest Rates: We prioritize CD accounts with the highest Annual Percentage Yields (APYs). High interest rates mean better returns on your savings over time.
- 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.
- 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.
- 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.
- 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.
- 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?
How to Choose the Right CD Account
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.
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.
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.
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.
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.
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
- Up to $30/mo refunded in ATM fees
- No minimum opening deposit
- Up to 2% cashback debit card
Cons
- No physical locations
- No 24/7 support
- No cash deposits
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
- Earn up to 4% APY
- No monthly fees
- No minimum balance requirement
Cons
- Foreign transaction fees
- No physical locations
- Category limits on debit card for cashback
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
- High APY rates
- No monthly fees
- 90,000+ ATM locations
Cons
- No physical locations
- Limited support
- No cash deposits
Disclosures
Quontic:
Withdrawals before the maturity date are subject to penalties
