bank rates

5-Year CD Rates Roundup: Take Home 2.45% Nationally, 2.61% Locally

Looking for the best 5-year CD rates? Right now the best you can earn nationally is 2.45% from 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 at this time last year.

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

Popular Direct is the notable outlier in the 5-year CD rate category, offering 2.45% APY. But it requires a hefty minimum deposit amounts to earn that APY. Popular Direct requires a $10,000 minimum.

If you’re willing to take a little less of a return, GS Bank is offering 2.40% APY with a minimum of $500. And Synchrony Bank is offering 2.35% with a hefty $25,000 minimum.

Top Nationally Available 5-Year CD Rates

Bank Yield Minimum Deposit
Popular Direct 2.45% $10,000
GS Bank 2.40% $500
Synchrony Bank 2.35% $25,000
Barclays 2.30% $0
Ally Bank 2.25% $0
Bank of Internet 2.25% $1,000
PenFed 2.12% $1,000
Capital One 360 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.

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

Pelican State Credit Union is offering 2.61% APY with a $500 minimum deposit, for example. And several credit unions and local banks are offering 2.40% APY or better.

Top Local 5-Year CD Rates

Bank State APY Min Deposit
Pelican State Credit Union Louisiana 2.61% $500
General Electric Credit Union Ohio, Indiana, Kentucky 2.50% $500
Bank of Utica New York 2.50% $500
Cottonwood Community Federal Credit Union Idaho 2.40% $500
Ukrainian Selfreliance Federal Credit Union Pennsylvania, New Jersey 2.40% $500
Cove Federal Credit Union Kentucky 2.25% $1,000

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.