bank rates

Check Out These Eye-Popping CD Rates From TIAA Bank

tiaa bank cd rates

TIAA Bank has been dominating the rankings on short- and long-term CDs recently. If you’re looking for a great CD rate, and you’re not sure where to turn, chances are TIAA has a product that will pique your interest.

Indeed, it’s consistently leading our list of the top-paying nationally-available CDs.

It helps that the bank has to compete in this rising-rate environment.

Overall we’ve seen hefty increases on nearly all terms this month, providing some hope that CD returns are finally heading back to a place where they’ll be valuable for savers.

But we still have a long road to back to the returns we saw pre-recession.

The average 5-year CD pays just 1.44% APY.

Fortunately, TIAA Bank is offering more than twice that average on 5-years — 3.00% APY with a $5,000 minimum deposit to open.

Of course, it’s always crucial to compare the best CD rates before you purchase.

Here are TIAA Bank’s CD Rates:

TIAA Bank CD Rates
Term Rate Minimum
1-year 2.75% APY $5,000
2-year 2.80% APY $5,000
3-year 2.83% APY $5,000
4-year 2.85% APY $5,000
5-year 2.95% APY $5,000

Requirements to open

You can open up a TIAA Bank CD online.

In addition to the minimum deposit requirements, you’ll need to keep the CD through the full term to earn the APY. If you decide to withdraw early, you may get hit with a penalty.

Major perks

TIAA Bank has one of the widest selections of CDs on the market and very competitive interest rates. In addition, its Yield Pledge CD promises that the yield on your CD when you open, renew or roll over your expiring CD will be in the top 5 percent of competitive accounts.

About TIAA Bank

TIAA Bank is a division of TIAA, FSB and is a part of TIAA’s Retail Financial Services business. In June, TIAA announced the launch of TIAA Bank – which brought EverBank and TIAA Direct under a new name and brand. TIAA Bank is headquartered in Jacksonville, Florida.

Photo Credit: Shutterstock

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