bank rates

The Best 5-Year CD Rate Just Got Better

EverBank has boosted the return on its 5-year CDs to 3.44% APY.

EverBank

Since it was already offering the best, nationally available 5-year CD at the previous rate of 3.39% APY, this will certainly keep EverBank at the top of our rankings.

The increase also reflects the slightly higher average returns we’ve seen on these long-term certificates of deposit this year.

EverBank has a reasonable $1,500 minimum deposit.

But the online bank based in Jacksonville, Fla., charges the most punitive early withdrawal penalty around — 25% of the interest you would earn over the entire 5-year term.

Take your money back before you’ve made enough to cover the full penalty and EverBank will ding your principal for the difference.

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