Ultimate Guide to Top Certificate of Deposit Rates in 2024
Explore top CD rates in 2024 with detailed insights on weekly offers from leading banks like Goldman Sachs, Synchrony, Barclays, Ally, and CIT Bank. Find flexible options and competitive APYs to maximize your savings efficiently.
Discover the Best CD Rates This Year
A Certificate of Deposit (CD) is a financial product where you agree to leave your funds untouched for a set period in exchange for higher interest rates. The term CD rates refer to the interest earned on these deposits, influenced by factors like the investment duration and prevailing interest rate trends.
Marcus by Goldman Sachs
Marcus, Goldman Sachs' consumer lending arm, offers competitive FDIC-insured CD options. With only a $500 minimum deposit, you can access some of the market’s best rates:
6-month: 0.60% APY
9-month: 0.70% APY
12-month: 2.55% APY
18-month: 2.55% APY
2-year: 2.60% APY
3-year: 2.65% APY
5-year: 3.10% APY
6-year: 3.15% APY
Synchrony Bank
Previously part of GE, Synchrony now operates as an online bank offering attractive rates insured by FDIC. Their flexible options are ideal amidst rising rate environments.
3-month: 0.75% APY
6-month: 1.00% APY
9-month: 1.25% APY
12-month: 2.45% APY
13-month: 2.65% APY
18-month: 2.55% APY
24-month: 2.65% APY
36-month: 2.70% APY
48-month: 2.80% APY
60-month: 3.00% APY
Barclays Bank
Though established in London, Barclays maintains a presence locally, offering competitive CD rates without a minimum balance requirement. Their current rates include:
1-year: 2.45% APY
2-year: 2.50% APY
3-year: 2.55% APY
4-year: 2.65% APY
5-year: 3.00% APY
Ally Bank
An online powerhouse, Ally Bank provides no-deposit CDs suitable for smaller investments, with FDIC insurance coverage. Their current rates are:
3-month: 0.75% APY (less than $5k); 0.75% APY ($5k); 0.75% APY ($25k)
6-month: 1.00% APY (less than $5k); 1.00% APY ($5k); 1.00% APY ($25k)
9-month: 1.25% APY (less than $5k); 1.25% APY ($5k); 1.25% APY ($25k)
12-month: 2.25% APY (less than $5k); 2.40% APY ($5k); 2.50% APY ($25k)
18-month: 2.35% APY; 2.45% APY; 2.55% APY respectively
3-year: 2.50% APY; 2.55% APY; 2.60% APY respectively
5-year: 2.75% APY; 2.90% APY; 3.00% APY respectively
CIT Bank
Founded in 2009, CIT Bank has rapidly grown, managing over $42 billion in assets.
They currently offer a 12-month CD with a 2.50% APY and a minimum deposit of $1,000.
Current Average CD Rates
As rates fluctuate daily, it is crucial to compare options for maximum earnings. The FDIC reports the following average rates for deposits under $100,000:
1-month: 0.07%
3-month: 0.11%
6-month: 0.18%
1-year: 0.31%
2-year: 0.47%
3-year: 0.62%
4-year: 0.73%
5-year: 0.92%
