Best 10-year CD rates for February 2025

Written by
Matthew Goldberg
Edited by
Marc Wojno, MBA
Reviewed by
Robert R. Johnson

Rates updated Dec. 9, 2024 | Content updated Jan. 13, 2025

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Compared to savings accounts and short-term time deposits, 10-year certificates of deposit (CDs) may offer more competitive interest rates. They’re also virtually risk-free and guarantee a specific rate of return. But given the long return horizon, a 10-year CD isn’t a good fit for every saver. You may be better off investing in a shorter-term CD that pays a higher yield. For example, you can currently lock in up to 4.25% APY on a five-year CD.

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Bankrate's picks for the top 10-year CD rates

Note: Annual percentage yields (APYs) shown are as of Dec. 9. 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.

Discover Bank: 3.40% APY; No minimum deposit to open

Few well-known banks offer 10-year CDs. One exception is Discover Bank, which offers CDs across all standard terms.

Discover is an online bank headquartered in Greenwood, Delaware. Until August 2000, it was known as the Greenwood Trust Co., which was incorporated in 1911.

Vio Bank: 2.75% APY; $500 minimum deposit to open

Vio Bank is an online-only bank that offers CDs and a high-yield savings account with competitive rates. CD terms range from six months to 10 years.

Vio Bank is a division of MidFirst Bank, based in Oklahoma City.

EmigrantDirect: 2.00% APY; $1,000 minimum deposit to open

EmigrantDirect is a division of Emigrant Bank. It has CDs with terms ranging from six months to 10 years. All of these CDs require a $1,000 minimum deposit.

EmigrantDirect also offers the American Dream Savings Account, which has no fees or service charges.

MySavingsDirect: 2.00% APY; $1,000 minimum deposit to open

MySavingsDirect is a division of Emigrant Bank. It offers CDs with terms ranging from six months to 10 years, with each requiring a $1,000 minimum deposit.

MySavingsDirect also offers the MySavings Account, which has no fees or service charges.

How to find the best 10-year CD rates

Because few banks and credit unions offer 10-year CDs, finding the best rates may be challenging. Compare offers with deposits backed by the federal government. Look closely at deals from online financial institutions.

Be sure to consider the opportunity cost. Don’t purchase a 10-year CD without evaluating other low-risk investment products such as online high-yield savings accounts. Alan Dole, a wealth manager with Legacy Advisor Group, says it pays to ask, “Where else could you put that money that would earn you more?”

Savers could buy a 10-year CD and close the account before it matures. Just make sure the benefit of an early exit outweighs the cost of the withdrawal penalty.

A CD ladder can help reduce risk by spreading your investment over several CDs with different due dates. This offers consistent access to money and enables reinvestment in CDs with better yields in the event that interest rates rise. — Dré Villeroy, CEO, Beyorch

When should you get a 10-year CD?

A 10-year CD should be considered if you want to earn a fixed yield and have money that you’re willing to sock away for a decade, untouched. The certainty of the yield and safety – as long as it’s within federal insurance guidelines – can be a good option in some situations. But 10 years is a long time, so review the early withdrawal penalties so that you know the worst-case scenario for breaking this CD.

The Federal Reserve raised rates 11 times in 2022 and 2023, and APYs on many CDs increased to multi-year highs, in turn. However, the Fed lowered rates at its last three meetings of 2024, bringing the target range down to 4.25-4.5 percent, and it may lower rates again in coming months. CD rates have steadily been decreasing for months. However, yields on some competitive 10-year CDs are outpacing inflation — although no one can predict how long this will be the case.

A 10-year CD could be a worthy option for your savings if you had a child going away to school in a decade, and you don’t want to risk losing any of your principal through other investments during those years.

Research methodology

At Bankrate, we strive to help you make smarter financial decisions. We follow strict guidelines to ensure that our editorial content is unbiased and not influenced by advertisers. Our editorial team receives no direct compensation from advertisers and our content is thoroughly fact-checked to ensure accuracy.

Bankrate regularly surveys over 100 widely available financial institutions, made up of the biggest banks and credit unions, as well as a number of popular online banks.

To find the best CDs, our editorial team analyzes various factors, such as: APY, the minimum deposit needed to earn that APY (or to open the CD) and whether it is broadly available. All of the accounts on this page are insured by the Federal Deposit Insurance Corp. (FDIC) or the National Credit Union Administration (NCUA).

When selecting the best CD for you, consider the purpose of the money and when you’ll need access to these funds to help you avoid early withdrawal penalties.