bank rates

5-Year CD Rates Roundup: Take Home 2.35% Nationally, 2.61% Locally

Looking for the best 5-year CD rates? Right now the best you can earn nationally is 2.35% from Synchrony Bank or 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 summer.

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

Synchrony Bank and Popular Direct are notable outliers in the 5-year CD rate category, offering 2.35% APY. But both require hefty minimum deposit amounts to earn that APY. Popular Direct requires a $10,000 minimum while Synchrony requires $25,000.

If you’re willing to take a little less of a return, Barclays is offering 2.30% with no minimum. Ally Bank, Bank of Internet and GS Bank are offering 2.25% with no minimum, $1,000 minimum and a a $500 minimum, respectively.

Top Nationally Available 5-Year CD Rates

Bank Yield Minimum Deposit
Popular Direct 2.35% $10,000
Synchrony Bank 2.35% $25,000
Barclays 2.30% $0
Ally Bank 2.25% $0
Bank of Internet 2.25% $1,000
GS Bank 2.25% $500
PenFed 2.12% $1,000
Capital One 360 2.10% $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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  1. cumulus said:
    on May 3rd at 09:24 pm

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