Best 2-year CD rates for February 2025

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

Rates updated between Feb. 14 and Feb. 20

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A two-year certificate of deposit (CD) can be a useful financial tool for those looking to secure a higher interest rate on their savings without committing to locking up their money long term. It may also pay a higher rate of return than a high-yield savings account.

Current 2-year CD trends Caret Up Icon Caret Down Icon

Bankrate Partner average
3.68% APY
National average
1.62% 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 the top 2-year CD rates

Note: Annual percentage yields (APYs) shown were updated between Feb. 14 and Feb. 20. 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.

SchoolsFirst Federal Credit Union_logo

SchoolsFirst Federal Credit Union

4.5 Bankrate CD score

  • Annual percentage yield

    4.15%

  • Min. deposit to open

    $500

Why SchoolsFirst Federal Credit Union?

SchoolsFirst serves the education community in California. Certain school employees, certain retired school employees and immediate family members of SchoolsFirst Federal Credit Union members are eligible to join. SchoolsFirst offers CDs ranging from 30 days to five years. To open a CD, a $500 minimum deposit is required. If you put in more money you may be rewarded with a higher APY, as SchoolsFirst has five rate tiers: $500, $20,000, $50,000, $100,000 and $250,000.

America First Credit Union_logo

America First Credit Union

5.0 Bankrate CD score

  • Annual percentage yield

    4.15%

  • Min. deposit to open

    $500

Why America First Credit Union?

America First Credit Union was founded in 1939 in Salt Lake City. It has CDs with terms ranging from three months to five years. The minimum opening deposit for CDs is $500. It also offers a variety of checking and savings accounts.

Popular Direct_logo

Popular Direct

4.0 Bankrate CD score

  • Annual percentage yield

    4.15%

  • Min. deposit to open

    $10,000

Why Popular Direct?

Popular Direct CDs are for established savers, since the CDs have a $10,000 minimum deposit requirement. The CDs are offered in eight fixed terms, from three months to five years. Popular Direct’s Select Savings account offers a competitive yield and requires a $100 minimum deposit. All Popular Direct deposit accounts are opened through Popular Bank.

Marcus by Goldman Sachs_logo

Marcus by Goldman Sachs

4.9 Bankrate CD score

  • Annual percentage yield

    4.10%

  • Min. deposit to open

    $500

Why Marcus by Goldman Sachs?

A minimum deposit of $500 is required to open any CD and earn the posted APY. In addition to its regular CDs, Marcus also offers three no-penalty CD terms and a savings account. Marcus by Goldman Sachs is the online-only banking arm of Goldman Sachs Bank USA.

TAB Bank_logo

TAB Bank

4.1 Bankrate CD score

  • Annual percentage yield

    4.06%

  • Min. deposit to open

    $1,000

Why TAB Bank?

Transportation Alliance Bank (TAB Bank) offers six terms of CDs. Those CD terms range from 12 months to five years. You’ll need at least $1,000 to open one of these CDs. In addition to these CDs, TAB Bank also offers two checking accounts, a savings account and a money market account. Serving both individuals and businesses, TAB Bank was established in 1998 in Ogden, Utah, as a banking service inside truck stops.

Bread Savings_logo

Bread Savings

3.5 Bankrate CD score

  • Annual percentage yield

    4.00%

  • Min. deposit to open

    $1,500

Why Bread Savings?

Bread Savings, formerly Comenity Direct, is an online bank that offers high-yield savings products and five terms of CDs ranging from one to five years. Bread Savings is part of Comenity Capital Bank, which is a unit of Bread Financial.

First Internet Bank of Indiana_logo

First Internet Bank of Indiana

4.1 Bankrate CD score

  • Annual percentage yield

    3.93%

  • 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 online and has no branches. It opened in 1999 and offers products in all 50 states. First Internet Bank offers eight terms of CDs, a money market savings account with a competitive yield, a savings account and two checking accounts.

Vio Bank_logo

Vio Bank

4.2 Bankrate CD score

  • Annual percentage yield

    3.75%

  • Min. deposit to open

    $500

Why Vio Bank?

Vio Bank offers traditional CDs with terms ranging from six months to 10 years, an extensive variety compared to some other banks. The minimum deposit for each account is relatively low at $500. CDs automatically renew once they mature following a 10 day grace period. Yields are competitive for all CDs, but Vio’s highest APYs are for CDs with terms of three years or less.

Randolph-Brooks Federal Credit Union_logo

Randolph-Brooks Federal Credit Union

4.3 Bankrate CD score

  • Annual percentage yield

    3.75%

  • Min. deposit to open

    $1,000

Why Randolph-Brooks Federal Credit Union?

Randolph-Brooks Federal Credit Union is headquartered in Live Oak, Texas, and operates more than 60 branches serving four major markets in the state: Austin, Corpus Christi, Dallas-Fort Worth and San Antonio. It has more than 1 million members. Randolph-Brooks Federal Credit Union has CDs with terms ranging from six months to seven years. It also offers a Really Free Checking account that requires no minimum balance and charges no monthly fee.

EverBank_logo

EverBank

4.1 Bankrate CD score

  • Annual percentage yield

    3.75%

  • Min. deposit to open

    $1,000

Why EverBank?

EverBank offers CD terms ranging from three months to five years. It also offers a bump-rate CD, which allows a one-time rate bump should rates go higher. EverBank offers a service for customers with deposits that exceed the FDIC insurance limit of $250,000. Funds are spread around to different federally insured banks to expand insurance coverage.

What is a 2-year CD?

When a bank issues a two-year CD, that typically means your money is locked in for two years, often in exchange for a higher annual percentage yield (APY) than you’d find on a savings account. But unlike a savings account with a variable APY, the yield on a CD is fixed and won’t change during the term.

At the end of the term, you can renew the CD or shop around for another one, potentially with a higher yield, if the interest rate environment has improved. After a CD’s maturity date, it likely will renew automatically after a grace period, typically within seven to 10 days. Most CDs charge an early withdrawal penalty if you need access to the funds before the maturity date.

The best two-year CD rates pay far more than the national average of 1.62 percent APY, according to Bankrate’s national index survey of banks and thrifts on Feb. 21, 2025. Compare the top widely available two-year CD rates on this page, and also calculate how much interest you could earn when your CD matures.

“If you’re looking to generate income without risking the principal or have a specific cash need a couple of years down the road, the prospect of locking in a two-year CD return that should comfortably outpace inflation for those two years is pretty compelling,” says Greg McBride, CFA, Bankrate chief financial analyst.

McBride stresses the importance of being sure you can part with the principal for two full years before locking the funds into a two-year CD. “If not, yields on shorter maturities are actually higher than what you’d get on a two-year CD. If you need to cash in that two-year CD early, you could give back six months’ worth of interest, which is even further behind where you would’ve been had you gone with a shorter maturity.”

Long-term CDs in 2025 will likely be lower. As the Federal Reserve continues to lower the benchmark interest rate, banks and credit unions will be careful to lock in long-term rates. Long-term CDs can be a benefit, but the length of locking up your money for that long might not make sense depending on your needs.
Bankrate logo Steve Azoury, CLU®, ChFC®, owner of Azoury Financial

2-year CD FAQs

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 around 70 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: annual percentage yield, the minimum needed to earn that APY (or to open the CD) and whether or not it is broadly available. All of the accounts on this page are insured by the Federal Deposit Insurance Corp. (FDIC) or by the National Credit Union Share Insurance Fund (NCUSIF).

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.