Best for longer-term CDs: Discoverĭiscover bank offers CD terms ranging from three months to 10 years, which may be ideal for savers who are funding longer-term goals. Nationwide CDs are backed by the Federal Deposit Insurance Corporation (FDIC) up to $250,000, and you can manage your accounts through online or mobile banking. You can open a Nationwide CD with just $500, which may appeal to you if you're just getting started with saving or want to spread your CD savings across accounts at different banks.ĬDs renew automatically, but you'll have a 10-day grace period in case you'd like to withdraw your savings or move them elsewhere.
Terms are available ranging from three months to five years, with 12-month CDs earning the best rate. Nationwide partners with Axos Bank to offer CDs at competitive rates. There is, however, a penalty for withdrawing money from a CD before maturity. You could open more than one CD with Quontic if you're interested in laddering, and there are no monthly fees. In terms of what makes Quontic a standout for CDs, a $500 minimum deposit and the competitive rates you can earn are both attractive features. You can open Bitcoin checking, rewards checking, or high-interest checking accounts here. Quontic is a digital bank that offers CD accounts, along with some of the best checking accounts for people who are looking for an alternative to traditional banking. Best for lower minimum deposit requirements: Quontic You could open a high-yield savings account, checking account, or money market account. In addition to CDs, there are other ways to save with CIT. The minimum deposit to open a CD account is $1,000. Rates for longer-term CDs are not as stellar, though they're still above the typical CD rates you might get from traditional banks. The highest annual percentage yield (APY) applies to the six-month CD option, though you can also get competitive rates with 13- and 18-month CDs and the 11-month no-penalty CD. CIT Bank takes the top spot for offering the best CD rates overall.
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