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- Various nationwide banks and credit unions have CDs offering above 5% APY.
- CD rates on terms of 18 months or less are currently higher than most longer-term CD rates.
- Review the account disclosure before opening a CD to be aware of opening requirements and fees.
Savings rates have gone up over the last two years, and the best CD rates readily offer 5% APY (Annual Percentage Yield) or more right now.
If you're interested in opening an account, here are 5% CDs available nationwide.
Certificates of deposit with at least 5% interest
The following list features financial institutions with CDs paying more than 5.50% APY. The credit unions included have membership eligibility requirements, but anyone can join regardless of where they live.
This list specifically includes terms under 36 months because short-term CD rates are currently higher than long-term CD rates. Also, keep in mind that many financial institutions have multiple terms that pay 5% APY or more.
Institution | Most Competitive CD Term | Highest CD APY Available |
| Credit Human Federal Credit Union | 12 months | |
13 months* | 5.76% | |
| TotalDirectBank | 6 months* | |
| BluPeak Credit Union | 9 months* | 5.75% |
9 months* | 5.75% | |
12 months* | ||
24 months* | ||
12 months* | ||
12 months* | ||
11 months | 5.25% to 5.65% | |
12 months* | ||
12 months* | ||
12 months* | ||
Western Alliance Bank, powered by Raisin | 6 months* | |
36 months* | ||
| Bask Bank | 12 months* | |
3 months* | ||
12 months* | 5.51% |
*These financial institutions also offer other CD terms paying above 5% APY.
What to look for in a 5% CD
When you're looking at CDs at different financial institutions, make sure to read through the account disclosures to understand the account's opening requirements and limitations.
At most banks, CDs may require a minimum opening deposit of $1,000 or more. Unless you get an add-on CD, you won't be able to deposit money after the opening deposit.
CDs do not have any monthly bank maintenance fees, but they usually have early withdrawal penalties if you take out money before the term ends.
CDs are a type of bank account, so up to $250,000 is secure per depositor at an FDIC- or NCUA-insured financial institution.
5% interest CD FAQs
Is 5% for a CD good?
Yes, 5% APY is a good CD rate. Average CD rates only pay around 0.22% to 1.79% APY, depending on the term.
What bank is paying 5% on CDs?
Numerous banks offer 5% APY on CDs, including but not limited to Citi, BMO Alto, and CIBC Bank USA.
How much interest will $5,000 earn in a 5% in a 1-year CD?
If you deposit $5,000 into a 1-year CD paying 5% APY, you would earn about $250 in interest.