bank rates

5-Year CD Rates Roundup: Take Home 2.30% Nationally

Looking for the best 5-year CD rates? Right now the best you can earn is nationally is 2.30% from three banks — Capital One 360, Synchrony Bank and Popular Direct.

Even though the Fed has been raising the prime rate, we haven’t seen it reflected much in certificates of deposit.

Still, it beats the 2.27% you could earn from the top 5-year CD rates last spring.

Fortunately, you can almost always find some better-than-average local deals.

And keep in mind that rates change daily, which is why it’s always a good idea to check Bankrate’s extensive database of the day’s best CD rates.

The top national yields

Capital One 360, Synchrony Bank and Popular Direct are certainly the notable outliers in the 5-year CD rate category, all offering 2.30% APY. But Capital One 360 has a significantly lower minimum deposit amount than Synchrony and Popular Direct — $0 versus $10,000 and $25,000, respectively.

Ally Bank recently bumped up its rate on 5-year CDs, now paying 2.00% APY. And GS Bank is now offering 2.05% APY on a 5-year with a $500 minimum. Barclays is also offering 2.00% APY with no minimum.

Top Nationally Available 5-Year CD Rates

Bank Yield Minimum Deposit
Capital One 360 2.30% $0
Synchrony Bank 2.30% $10,000
Popular Direct 2.30% $25,000
GS Bank 2.05% $500
Ally Bank 2.00% $0
Barclays 2.00% $0

How to earn more locally

Bankaholic readers know we track much more than the best nationally available bank returns.

That’s because there’s always a crop of community banks and credit unions offering more attractive deals.

True, they generally take deposits only from savers who live or work nearby, or are willing to jump through a membership hoop.

General Electric Credit Union, for example, is offering 2.50% APY. And you can find a number of other banks offering 2.38% or better.

Top Local 5-Year CD Rates

Bank State APY Min Deposit
General Electric Credit Union Ohio, Indiana, Kentucky 2.50% $500
Bank of Utica New York 2.50% $500
Cove Federal Credit Union Kentucky 2.50% $1,000
Cottonwood Community Federal Credit Union Idaho 2.40% $500
Ukrainian Selfreliance Federal Credit Union Pennsylvania, New Jersey 2.40% $500
Pelican State Credit Union Louisiana 2.38% $500

See what you’ll earn with these deals by using our CD Rate Calculator.

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Comments (1)
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  1. cumulus said:
    on May 3rd at 09:24 pm

    Excellent 5-year CD summary & commentary. Thank you.