bank rates

5-Year CD Rates Roundup: Take Home 2.75% Nationally And Locally

Looking for the best 5-year CD rates? Right now the best you can earn nationally is 2.75% APY from one bank: Popular Direct.

That certainly beats what you could earn from the top 5-year CD rates at this time last year.

But it’s always important to search for deals locally as well. Local banks and credit unions often offer some of the best rates around. And we’ll tell  you where to find them.

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

Popular Direct is the notable outlier in our roundup. It’s paying 2.75% APY with a minimum of $10,000.

If you can’t swing the $10,000 minimum, the next best deal from Live Oak Bank, paying 2.70% APY, requires just a $2,500 minimum.

Not too far behind those two deals you’ll find Capital One 360 and Barclays, both paying 2.65% APY.

Overall, eight banks are paying 2.50% APY or above on 5-year CDs.

Top Nationally Available 5-Year CD Rates

Bank Yield Minimum Deposit
Popular Direct 2.75% $10,000
Live Oak Bank 2.70% $2,500
Capital One 360 2.65% $0
Barclays 2.65% $0
Marcus  2.60% $500
Synchrony Bank 2.50% $25,000
Ally Bank 2.50% $25,000
Sallie Mae 2.50% $2,500

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.

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

For example, Cottonwood Community Federal Credit Union is paying 2.75% APY with a $500 minimum, matching the top national leader.

And Pelican State Credit Union is offering 2.71% APY with a $500 minimum deposit.

Top Local 5-Year CD Rates

Bank State APY Min Deposit
Cottonwood Community Federal Credit Union Idaho 2.75% $500
Pelican State Credit Union Louisiana 2.71% $500
General Electric Credit Union Ohio, Indiana, Kentucky 2.50% $500
Bank of Utica New York 2.50% $500
Ukrainian Selfreliance Federal Credit Union Pennsylvania, New Jersey 2.40% $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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One Existing Comment
  1. cumulus said:
    on May 3rd at 09:24 pm

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