Find the best no penalty CD rates here.
A big part of what people hate about CD’s are the early withdrawal penalties.
No penalty CD’s are an exception as you’ll be able to withdraw your money early without suffering that penalty fee.
Continue reading below to find no penalty CDs and the best rates available.
What Is A No Penalty CD?
If you withdraw funds from a no-penalty CD before the term ends, you normally won’t be penalized.
Typically, early withdrawal is not allowed during the initial week of financing or opening a no-penalty CD, however after that, a penalty-free withdrawal is available.
No penalty CD’s are perfect for those who want to open a CD with a competitive rate but might need access to their money within the CD terms.
Sallie Mae Bank No Penalty CD
FDIC insured. No fees. $1 minimum deposit.- Putting educational and financial success within reach for more than 50 years.
- Security: Funds deposited into any of the products accessible through SaveBetter are held by federally insured institutions. We use a host of cybersecurity measures to protect your funds and sensitive information.
- Choice: Savings products from our network of financial institutions offer flexible terms and some of the most competitive interest rates. You can easily find the right product or mix of products for you.
- Convenience: One account to hold all your deposit products. Simplified statements. Easy access to manage your funds – all through a streamlined digital platform.
- Service: A supportive, accessible, responsive customer service team based in New York, NY, sets SaveBetter apart.
- Access: Enjoy 24/7 online access to your account and funds.
| Term | APY Rate | Minimum Deposit |
| 10-Month No-Penalty CD | 4.70% | $1 |
| 14-Month No-Penalty CD | 4.75% | $1 |
FVCbank 12-Month No-Penalty CD
With the FVCbank 12-Month No-Penalty CD:
- Earn 4.60% APY
FDIC insured. No fees. $1 minimum deposit.- 24/7 online access to funds.
- Works to improve the quality of life in the communities they serve
(powered by SaveBetter)
Blue Federal Credit Union 9-Month No-Penalty Certificate
With the Blue Federal Credit Union 9-Month No-Penalty Certificate:
- Earn 4.45% APY
- Federally insured by NCUA. No fees. $1 minimum to open.
- 24/7 online access to funds.
(powered by SaveBetter)
Ponce Bank 4-Month No Penalty CD
With the Ponce Bank 4-Month No Penalty CD:
- Earn 4.41% APY
- FDIC insured. No fees.
- Bank with purpose: your deposit helps us keep investing in underserved communities hard hit by the Covid crisis.
(powered by SaveBetter)
CIT Bank 11-Month No Penalty CD
With the CIT Bank 11-Month No Penalty CD:
Earn 4.15% APY on your funds with just a $1,000 minimum deposit.- You may withdraw the total balance and interest earned, without penalty, beginning seven days after funds have been received for your CD. No withdrawals are permitted during the first six days following the receipt of funds
- No account opening or maintenance fees
- Daily compounding interest to maximize your earning potential
- FDIC insured
(Visit CIT Bank for more details)
Best No Penalty CD Rates
| Account | Minimum Open | APY | Review |
|---|---|---|---|
| Sallie Mae 14-Month No Penalty CD | $1 | 4.75% | Review |
| Sallie Mae 10-Month No Penalty CD | $1 | 4.70% | Review |
| Blue Federal Credit Union 9-Month No-Penalty Certificate | $1 | 4.45% | Review |
| Ponce Bank 4-Month No Penalty CD | $1 | 4.41% | Review |
| CIT Bank No Penalty CD | $1,000 | 4.15% | Review |
| Ally Bank No Penalty CD | None | 4.75% | Review |
| America First Credit Union Flexible Certificate Account | $500 | 4.35% | Review |
| Citi No Penalty CD | $500 | 4.05% | Review |
| USALLIANCE Financial No Penalty CD | $500 | 4.00% | Review |
| Synchrony Bank No Penalty CD | None | 3.90% | Review |
| Marcus by Goldman Sachs No Penalty CD | $500 | 3.85% | Review |
| Old Missouri Bank No Penalty CD | $1000 | 3.53% | Review |
| Marcus by Goldman Sachs No Penalty CD (For AARP Members) | $500 | 3.85% | Review |
| Chartway Federal Credit Union Share Certificate with No Penalty | $500 | 3.50% | Review |
| Bellco Credit Union Smart Move CD | $2,500 | 3.40% | Review |
| My eBanc Flex Time Deposit CD | $10,000 | Up to 3.30% | Review |
| Colorado Federal Savings Bank No Penalty CD | $5,000 | 3.10% | Review |
Bottom Line
A no penalty CD can help you earn some interest on your hard-earned cash without locking it up in case of emergencies.
However, understand what you want to do with your money before you open any account.
If you are looking to make your money work for you, consider investing in a CD!
For more options, see our list of the best CD rates here and more interest bearing accounts like savings and money market accounts here.
Check back for updates on the best no penalty cd rates.
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
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