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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 2.30% from two banks — EverBank and State Farm Bank.

Even though the Fed raised the prime rate in December, 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

 

EverBank and State Farm Bank are certainly the notable outliers in the 5-year CD rate category, both offering 2.30% APY. But State Farm Bank has a significantly lower minimum deposit amount than EverBank — $500 versus $5,000.

Ally Bank recently bumped up its rate on 5-year CDs, now paying 2.00% APY. Unfortunately, you’re required to make a hefty $25,000 minimum deposit to earn that rate.

 

Top Nationally Available 5-Year CD Rates

Bank Yield Minimum Deposit
EverBank 2.30% $5,000
State Farm Bank 2.30% $500
Popular Direct 2.28% $10,000
Home Savings Bank 2.15% $5,000
Capital One 360 2.00% $0
Ally Bank 2.00% $25,000

 

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 2.75% 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 2.75% $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

We update the top local deals constantly, so be sure to check our roundup of the country’s best-paying credit union and community bank CDs for the latest offers.

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

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Comments (1)
30 votes, average: 4.47 out of 530 votes, average: 4.47 out of 530 votes, average: 4.47 out of 530 votes, average: 4.47 out of 530 votes, average: 4.47 out of 5 (30 votes, average: 4.47 out of 5)
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One Existing Comment
  1. cumulus said:
    on May 3rd at 09:24 pm

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