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Best 5-year CD rates for April 2025

Written by
Karen Bennett
Edited by
Marc Wojno, MBA
Reviewed by
Allyson Johnson

Rates updated between March 26 and April 1

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A certificate of deposit is a financial product that allows you to stash away some cash and earn a fixed rate of interest for a set period of time. In exchange for handing over your money for a specified and longer term, you usually earn a higher interest rate. For example, a five-year CD can earn a higher (and guaranteed) rate than a typical savings account while still offering safety.

Current 5-year CD trends

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Bankrate Partner average
4.00% APY
National average
1.56% APY
Info Icon
CD rates remain high, but are projected to move lower.
The Fed is predicted to continue cutting rates in 2025. Read more from Bankrate's experts in our CD rates forecast.
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Bankrate's picks for top 5-year CD rates

Note: Annual percentage yields (APYs) shown were updated between March 26 and April 1, 2025. Bankrate's editorial team validates this information regularly, typically biweekly. APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes only FDIC banks or NCUA credit unions in its listings.

Synchrony Bank_logo

Synchrony Bank

Rating: 4.9 stars out of 5
4.9 Bankrate CD score

  • Annual percentage yield

    4.15%

  • Min. deposit to open

    $0

Why Synchrony Bank?

Synchrony Bank offers competitive yields across nine CD terms. Synchrony Bank offers many terms of CDs with terms ranging from three months to five years. Synchrony Bank also offers an 11-month no-penalty CD and a two-year bump-up CD. The bank also offers a money market account and a savings account. The money market account offers a solid APY, while the savings account offers a competitive APY. Neither account has a minimum balance requirement.

Popular Direct_logo

Popular Direct

Rating: 4 stars out of 5
4.0 Bankrate CD score

  • Annual percentage yield

    4.15%

  • Min. deposit to open

    $10,000

Why Popular Direct?

Popular Direct is an online bank and a subsidiary of Popular Inc., a more than 130-year-old financial services company. Popular Direct offers CDs in eight terms ranging from three months to five years. With a $10,000 minimum deposit to open, these CDs are geared toward serious savers. Popular Direct doesn’t offer specialty CDs, such as bump-up or no-penalty CDs. It does offer a savings account with a competitive rate.

Bread Savings_logo

Bread Savings

Rating: 3.8 stars out of 5
3.8 Bankrate CD score

  • Annual percentage yield

    4.00%

  • Min. deposit to open

    $1,500

Why Bread Savings?

Bread Financial is an online-only bank that offers high-yield savings products and nine CD terms, ranging from three months to five years. Each term earns a competitive yield, but you'll need at least $1,500 — deposited in a single transaction — to open an account. Bread Savings is a product of Comenity Capital Bank, which has existed for more than 20 years.

TAB Bank_logo

TAB Bank

Rating: 4.1 stars out of 5
4.1 Bankrate CD score

  • Annual percentage yield

    3.81%

  • Min. deposit to open

    $1,000

Why TAB Bank?

TAB Bank was established in 1998 in Ogden, Utah, as a banking service inside truck stops. TAB (Transportation Alliance Bank) serves businesses and individual customers. It offers several checking accounts, a savings account, a money market account and CDs in six terms, from 12 months to five years. All of TAB's CDs offer competitive yields, and you can open an account with a $1,000 deposit.

Sallie Mae Bank_logo

Sallie Mae Bank

Rating: 3.9 stars out of 5
3.9 Bankrate CD score

  • Annual percentage yield

    3.80%

  • Min. deposit to open

    $2,500

Why Sallie Mae Bank?

Sallie Mae Bank offers 11 terms of CDs, savings accounts, a money market account and private student loans. Sallie Mae Bank CD terms range from six months to five years, which generally come with high yields.

American Express National Bank_logo

American Express National Bank

Rating: 4.3 stars out of 5
4.3 Bankrate CD score

  • Annual percentage yield

    3.75%

  • Min. deposit to open

    $0

Why American Express National Bank?

American Express is perhaps best known for its credit cards, but the digital bank also offers a full suite of personal deposit accounts, including a high-yield savings account and various CDs. The five-year CD comes with a competitive yield, though American Express does offer terms with higher APYs. You can open any of those CDs with any amount of money. Keep in mind that you can't add more money to the CD after initially funding the account, meaning you'll need to wait until it renews to add more funds.

Marcus by Goldman Sachs_logo

Marcus by Goldman Sachs

Rating: 4.9 stars out of 5
4.9 Bankrate CD score

  • Annual percentage yield

    3.75%

  • Min. deposit to open

    $500

Why Marcus by Goldman Sachs?

Marcus by Goldman Sachs is an online bank that offers a wide array of competitive CDs and a savings account. Not many banks can match the number and variety of Marcus's CDs. It has ten terms of regular CDs — ranging from six months to six years — three no-penalty CDs and one rate bump CD. All of these CDs have a $500 minimum deposit requirement.

CFG Community Bank_logo

CFG Community Bank

Rating: 4.3 stars out of 5
4.3 Bankrate CD score

  • Annual percentage yield

    3.65%

  • Min. deposit to open

    $500

Why CFG Community Bank?

CFG Bank offers a wide array of deposit products that generally come with very high APYs, including its checking account. The bank offers four CDs, all of which can be opened with just $500. That same amount is also required as a minimum daily balance to continue earning the advertised APY.

Alliant Credit Union_logo

Alliant Credit Union

Rating: 4.7 stars out of 5
4.7 Bankrate CD score

  • Annual percentage yield

    3.65%

  • Min. deposit to open

    $1,000

Why Alliant Credit Union?

Alliant offers a wide range of CDs, with terms spanning from three months to five years. You'll need at least $1,000 to open an account, and there's no maximum on the amount of funds you can add. While it's a credit union, Alliant makes it easy to become a member. There are several ways to qualify for membership, including proximity to the credit union’s headquarters, employment and familial status. If you don't qualify that way, you can join the Alliant Credit Union Foundation with a $5 donation, which Alliant covers on behalf of new members.

First Internet Bank of Indiana_logo

First Internet Bank of Indiana

Rating: 4.1 stars out of 5
4.1 Bankrate CD score

  • Annual percentage yield

    3.65%

  • Min. deposit to open

    $1,000

Why First Internet Bank of Indiana?

First Internet Bank of Indiana is an FDIC-insured financial institution that operates entirely online. First Internet Bank offers eight terms of CDs, from three months to five years, that all have strong yields and can be opened with a minimum deposit of $1,000. But note that the early withdrawal penalty for the five-year CD is on the high side compared to some other banks.

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Recent news about CD rates

Yields on deposit products, including CDs, are indirectly affected by the Federal Reserve's federal funds rate. When the Fed raises that benchmark rate, banks and credit unions tend to hike their yields. As such, CD yields have been elevated ever since the Fed started hiking rates in 2022. But that's changing.

In September 2024, the Federal Reserve ended a 13-month streak of leaving the federal funds rate unchanged after hiking the benchmark rate to combat post-pandemic inflation. As inflation eased, coming closer to the Fed's preferred target, the U.S. central bank continued cutting rates last year in November and December. This caused deposit yields to drop, though they remained relatively high.

But with the economic uncertainty created by the Trump administration — especially as inflation becomes a fresh concern due to Trump's tariffs — experts anticipate no change in the federal funds rate in the next few months.

As such, CD yields may remain elevated for a bit longer. So, if you've been waiting for the right time to open a CD, now may be the time before yields fall further. Five-year CDs in particular can guarantee a high rate for a long amount of time.

How to find the best 5-year CD rates

Savers looking for the best CD rates probably want to venture online. Even if a bank is relatively small or not well known, as long as it’s a member of the Federal Deposit Insurance Corporation (FDIC), you can rest easy knowing each depositor (that’s you) is protected up to at least $250,000 per insured bank, per ownership category if there’s a bank failure. You can find out if your bank is FDIC-insured by using the BankFind Suite tool.

Credit unions are insured by the National Credit Union Administration (NCUA). The NCUA also provides a standard insurance amount of up to $250,000 per share owner (that’s you!), per insured credit union and for each ownership category (account type, such as single versus joint accounts).

One thing to look for, though: ease of use. Banks that make it difficult or time-consuming to deposit and withdraw funds may waste so much of your time that the benefit of a few extra basis points of interest on your savings is lost. (A basis point is equal to 0.01 percentage point, so 1 percent has 100 basis points.)

Best 5-year CD rates at credit unions

Don’t limit yourself to banks when looking for the best yields on CDs. You can find some highly competitive APYs at credit unions, too. You just need to make sure that you qualify to join, since some credit unions limit membership to people who live in certain regions or work at certain companies. If you do qualify for membership, you could earn a top rate. Here are some of the highest APYs we found for 5-year CDs at credit unions:

  • America First Federal Credit Union: 5 years, 4.20% APY, $500 minimum deposit APY for a 5-year CD. To join America First, you must live work, worship, volunteer or attend school in certain western states, or be a member of certain employers or affiliated associations, among other critera.
  • SchoolsFirst Federal Credit Union: 5 years, 4.25% APY, $500 minimum deposit APY for a 5-year CD. SchoolsFirst serves educational communities in California, so you're eligible to join if you are a current or retired school employee of an eligible school, an immediate family member of a SchoolsFirst member, an employee of certain educational companies or a college student enrolled in an eligible education program with a student teaching requirement.
  • Security Service Federal Credit Union:
    APY for a 5-year CD. To join Security Service, you must live, work, worship, attend school, volunteer or have a business in Texas, Colorado or Utah. You can also join if you're a member of the military or a Department of Defense employee.
  • The Golden 1 Credit Union: 5 years, 3.80% APY, $500 minimum deposit APY for a 5-year CD. To join The Golden 1, you must live or work in California.

When should you get a 5-year CD?

For those with a longer financial horizon and no need to access funds at a moment’s notice, a five-year CD can be a great choice. Because they earn a guaranteed rate for the whole term, five-year CDs are suitable for those who want to grow some of their savings over a half-decade, without the volatility associated with stocks or mutual funds. 

Before putting your money into a five-year CD, it’s important to understand its features and ensure it aligns with your savings goals, says Mark Colucy, vice president of retail operations at Bread Financial. “For instance, if you’re unsure if you will need the funds in the CD before it matures in five years, then a shorter-term CD might be a good option.”

CDs typically come with penalties for early withdrawal, so they’re best for those who are confident they won’t need to access their funds in the interim. If there’s a chance you’ll need the money for unexpected expenses or opportunities, it might be wise to explore more liquid, high-yielding savings accounts. 

Alternatively, you could invest some money in a five-year CD and some in shorter-term CDs to build a CD ladder, ensuring that a portion of your savings will be accessible in the shorter term. A CD ladder staggers maturities and APYs, giving you the opportunity to earn a higher yield and still have access to some cash at set intervals.

“With a CD ladder, rather than putting all your savings into one CD for a longer period, you’d instead put your money into multiple, smaller CD investments at varying term lengths,” Colucy says. “As each CD matures, you can withdraw the money and the interest you made without penalty. If you don’t need the cash right away, you could also decide to renew the CD for another term and keep earning interest, especially if rates are higher.”

A 5-year CD can be very appealing for savers looking to generate predictable interest income without risk to principal, for those with a specific cash need 5 years from now, or as a way to diversify a broader portfolio by locking in a risk-free return on the CD portion. But in each of those cases, be very sure you can commit to the entire 5-year timeframe as early withdrawal penalties can be significant, and in the worst case scenario, can leave you with less than you originally invested.
Bankrate logo Greg McBridge, CFA, Bankrate Chief Financial Analyst

What to consider when choosing a CD

Consider these things to help you choose the right CD:

  • Early withdrawal penalties: Know what penalties may be incurred should you withdraw your money before the CD matures.
  • Minimum required deposit: Many CDs require a minimum amount of money to open.
  • APY: Annual percentage yield is the yearly interest earned if you keep your money in the CD for the full term. Compare APYs, instead of interest rates, to make an apples-to-apples comparison of CDs.
  • Term: The length of time required to earn interest on your money. Generally, it’s a good idea to choose a CD with a shorter term than when you expect to need your money. For example, if you need access to the funds in about two years, an 18-month CD may be a good choice.
  • Insurance: Make sure the CD is offered by an FDIC-insured bank or at an NCUA credit union.

Pros and cons of a 5-year CD

Pros

  • Checkmark Icon

    Limited liquidity — CDs don’t provide immediate access to your funds (unlike savings accounts), which could benefit those who may be tempted to otherwise spend their money. A CD can help keep your savings intact. Just be sure you won’t need the money before the CD matures for such things as emergencies or living expenses. It’s also important to understand the early withdrawal penalty that you’d incur if you needed to withdraw your funds sooner.

  • Checkmark Icon

    Safety — CDs from FDIC-insured banks and NCUSIF-backed credit unions are backed by the full faith and credit of the U.S. government, up to $250,000 per depositor, per insured institution and per ownership category.

  • Checkmark Icon

    High returns — Banks sometimes provide a higher APY with a five-year CD than you could find in a traditional savings account or in a CD with a shorter maturity.

  • Checkmark Icon

    Wide selection — You can choose from thousands of banks and credit unions to find a CD with the interest rate, maturity date (term) and minimum deposit amount that fits your needs.

  • Checkmark Icon

    Fixed, predictable returns — Once you put your money in a CD, you’re guaranteed a set return at a specified date, which can help you plan your financial goals.

Cons

  • Limited liquidity — The inability to instantly access funds is a drawback for those who may need their money before the CD’s term is up. You’ll typically pay a penalty for making early withdrawals. If you think it’s likely you’ll need this money in less than five years, consider a shorter-term CD or a savings account.

  • Inflation risk — The money in your CD may lose its purchasing power over time if inflation overtakes your interest gains.

  • Low relative returns — Other investment options may offer a higher rate of return. But these investments generally involve higher risk, including the chance of losing the principal. If you leave your money in the CD for the full term at an FDIC-insured bank and are within FDIC guidelines, your fixed-rate CD will earn that yield. The same is true for NCUSIF-backed credit unions.

  • Reinvestment risk — When you park your money in a five-year CD, it’s a long wait before you can tap those funds. If interest rates rise in the meantime, you could miss out on investing in a higher-rate CD.

5-year CD FAQs

Research methodology

Bankrate researches over 100 banks and credit unions, including some of the largest financial institutions, online-only banks, regional banks and credit unions with both open and restrictive membership policies.

To find the best five-year CD rates, we regularly survey five-year CD offerings from the banks and credit unions that continually offer the most competitive rates.

The banks and credit unions on this page are selected based on their current APY for a five-year CD and their minimum deposit requirements. Only banks and credit unions with broadly available CDs made the list. Learn more about our methodology for reviewing banks.