Best CD Rates – September 2022

Certificates of deposit (CDs) don’t get a lot of love in the financial press, but they are one of the safest ways to earn a little extra interest on your money without increasing your risk (other than the fact that you have to tie up your money for a longer period). Below we offer a list of the best CD rates as of August 19, 2022. We have evaluated individual banks to show those with both the best short-term and long-term rates, so you can choose based on how long you are willing to commit to a CD (bolded rate = highest for that CD length). As of now, Synchrony Bank is a strong choice:

Synchrony Bank: No minimum balance. Rates:

  • 5-Year: 3.25% APY
  • 3-Year: 3.1% APY
  • 2-Year: 3.00% APY
  • 1-Year: 2.6% APY
  • 6-Month: 1.65% APY

 

Barclays Bank: No minimum deposit required. Rates:

  • 5-Year 3.25% APY
  • 3-Year: 3.00% APY
  • 2-Year: 2.90% APY
  • 1-Year: 2.5% APY


Discover Bank: Minimum deposit of $2500. Rates:

  • 5-Year: 3.25% APY
  • 3-Year: 3.00% APY
  • 2-Year: 2.90% APY
  • 1-Year: 2.5% APY
  • 6-Month: 0.75% APY

 

Marcus by Goldman Sachs: Minimum deposit of $500. Rates:

  • 5-Year: 3.25% APY
  • 3-Year: 2.90% APY
  • 2-Year: 2.80% APY
  • 1-Year: 2.4% APY
  • 6-Month: 1.5% APY

 

Ally Bank: No minimum deposit required. Rates:

  • 5-Year: 3.00% APY
  • 3-Year: 3.0% APY
  • 1-Year: 2.5% APY
  • 6-Month: 1.50% APY

 

TIAA Bank: Minimum deposit of $1000. Rates:

  • 5-Year: 2.85% APY
  • 3-Year: 2.65% APY
  • 2-Year: 2.5% APY
  • 1-Year: 2.3% APY
  • 6-Month: 1.3% APY

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