bank rates

2-Year CD Rates Roundup: Earn 1.81% Nationally, 2.25% Locally

24-month CDs

The top nationally available 2-year CD is paying 1.81% APY, up more than a tenth of a percentage point since we last reported on this term in June.

Indeed, CD rates are on the rise. And 2-years are something to keep an eye on.

You can pick up 1.81% APY from two banks — First Internet Bank of Indiana and Everbank.

The main difference between the two is the minimum deposit amounts. First Internet requires a minimum of $1,000, while EverBank requires a minimum of $5,000.

Overall, we have six banks offering 1.70% APY or higher on 2-year CD rates. And 14 banks are offering deals of 1.50% APY or better.

Of course, there are still some local banks and credit unions offering better deals.

That makes it even more important to shop around thoroughly for the best CD rates.


Here are the Top National 2-Year CD Rates:

Bank Yield Minimum Deposit
First Internet Bank of Indiana 1.81% $1,000
Everbank  1.81% $5,000
Popular Direct 1.80% $10,000
My Safra Bank, SFB 1.71% $5,000
Connexus Credit Union 1.70% $5,000
Live Oak Bank 1.70% $2.500
Synchrony Bank 1.65% $2,000
Bank of Baroda 1.63% $1,000
State Bank of India – Chicago 1.61% $2,500
State Bank of India – New York 1.61% $5,000
Capital One 360 1.60% $0
GS Bank 1.55% $200
New Domino Bank 1.50% $1,000
PurePoint Financial  1.50% $10,000

Earn more with local deals

We track more than the best nationally available bank returns.

In fact, we typically find the best rates at community banks and credit unions, which only take deposits from savers who live or work nearby, or are willing to jump through a hoop to become a member.

If you’re in New Jersey, for example, People’s Transport Federal Credit Union is paying 2.25% APY with a minimum of $500.

In addition, look at shortening or stretching the term by a few months to score more possibilities.

Rates are on the rise

As for the rest of the nation’s 2-year CDs, today’s national average return is certainly higher than it was at this time last year. They’re even higher than they were last month.

The bump in rates resulted from the Federal Reserve’s decision to raise its benchmark interest rate.

So when can we expect the next boost?

In its latest meeting, the Fed decided on a quarter-point rate hike. And we might see another boost in its next meeting.

Remember, it’s crucial to shop around. Before you decide on a CD, make sure to shop around thoroughly for the best CD rates.


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