Best CD Rates | Find & Compare CD Rates – January 2020

If you’re in the market to save money but want to lock it in, then you’re in the right places to see our comprehensive list of the Best CD Rates available.

CDs or Certificate of Deposit is a certificate issued by the bank to a person depositing their money for a specific amount of time. During the specified time period your money is deposited, you will earn a certain APY for your specific CD account. The one thing about CDs versus Savings account is that you cannot withdraw from it during the on-going CD length without a penalty.

This is great for those who just want to invest and forget. The attractive feature of a CD is that the APY rates are quite high and that makes you WANT to leave your money alone so that it can earn you money without additional fuss. Below are the best CD Rates for various lengths such as 6-Month, 9-Month, 1 Year, 18-Month, 24-Month, 36-Month, 48-Month, an 60-Month CD term!

This is HustlerMoneyBlog’s absolute best guide to find the best CD rates for your specific needs. Those looking for the safest investment for your money, then Certificates of Deposit will be the best return on your savings. Additionally you will get more bang for your buck if you invest in online banks for the highest rates on your CDs.

We recommend opening a certificate of deposit account from Discover Bank.

Editor’s Note: Looking for a more specific term CD? See these posts below:

• Best 6-Month CD Rates
• Best 9-Month CD Rates
• Best 12-Month CD Rates
• Best 18-Month CD Rates
• Best 24-Month CD Rates
• Best 36-Month CD Rates
• Best 48-Month CD Rates
• Best 60-Month CD Rates

Everything You Need To Know About CDs

Certificate of Deposit: Simply put, they are deposit accounts to earn a fixed interest rate over your chosen term length. Unlike a checking or savings account, you cannot access your money without penalty until the CD term is over.

CDs VS Checking/Savings Accounts: You will find that CDs interest rates are always higher than traditional Checking and Savings accounts. CDs rates are fixed for terms as long as 60 months and cannot be changed unlike Savings or Checking account rates.

CD Accounts FDIC Insured: Up to $250,000 per account (FDIC insured for banks and NCUA insured for credit unions)

Pros about CDs: CDs are low maintenance with the only requirement is to keep your money in your account until your CD matures while earning interest. Make sure to set up a calendar reminder once the CD term matures, otherwise  most banks will automatically renew the CD at the end of the term.

Cons about CDs: Obviously you don’t have access to your money before your term ends unless you want to incur penalty fees. Make sure to put away money in a CD that you know you can afford.

CD Laddering Tactic: Many people don’t want to commit long term to a CD, but still want to earn a higher interest rate. There is a tactic you can employ with CDs called “CD Laddering” which involves setting up multiple CDs with differing term lengths.

E.G $10K investment into 5 different CD length: Instead of putting the entire $10,000 into one 5-year CD, you put $2,000 into 5 different CDs (i.e. 1,2,3,4,5-year CDs). With each CD expiring with every passing year, you can decide to either withdraw the money or re-invest it into another CD. You are essentially earning money on a higher interest if you decided to use this route.

Open a CD Account: You can visit your local traditional brick-and-mortar bank to open a CD account, but they cannot compete with the online banks since they have overhead costs. Rule of thumb when finding the best rate is Online Banks > Credit Unions > Regional Banks > National Banks. You will find all the best online CD rates below and I highly suggest you go with online banks for all your CDs needs.

Best CDs Online Banks: Online CD accounts have the best rates by far. It’s a wise move to get the highest rate for your investments. Since they operate online, all online banks CD accounts are available to everyone nationwide. They can keep the cost down with no branches overhead in order to provide the most competitive rates!

Steps for the best rates for Online CD Accounts: You want to figure out what the minimum balance requirement for the term you want to earn the listed Annual Percentage Yield (APY). Then choose your CD term you are comfortable leaving your money for the entire length of the CD term is earn the interest higher rate. Your is tied up for the entire CD term so make sure not to withdraw the due date, otherwise you will incur an early withdrawal penalty fee.

*Disclaimer* Since these rates change daily, make sure to confirm the latest rates by visiting the bank site directly using our links below. You’ll find the best CD rates from all the best banks ranked from highest to lowest based on CD term. Listed are the Annual Percentage Yields (APYs) and Length of the CD.

Best 6-Month CD Rates – Nationwide

Best 6-Month CD Rates – State/Local

Best 9-Month CD Rates – Nationwide

Best 9-Month CD Rates – State/Local

Best 12-Month CD Rates – Nationwide

Best 12-Month CD Rates – State/Local

Best 18-Month CD Rates – Nationwide

Best 18-Month CD Rates – State/Local

Best 24-Month CD Rates – Nationwide

Best 24-Month CD Rates – State/Local

Best 36-Month CD Rates – Nationwide

Best 36-Month CD Rates – State/Local

Best 48-Month CD Rates – Nationwide

Best 48-Month CD Rates – State/Local

Best 60-Month CD Rates – Nationwide

Best 60-Month CD Rates – State/Local

Chase Coupon Promo Codes $100, $200, $300, $350, $500, $625, $1000, $2000 for January 22, 2020

Huntington Bank Promotions: $200, $400, $750 Checking Bonuses for January 21, 2020

Discover Bank Promotions: $150/$200 Savings Bonus & $360 Cashback Debit for January 20, 2020

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