Maximizing your savings is an important part of your financial plan – so finding the highest yield on a certificate of deposit, or CD, is critical. MoneyRates.com can help you quickly narrow your search for the best long term CD rates available.
Typically, the longer the term of the certificate of deposit, the higher the rate. Rates for certificates of deposit (CDs) are set by the issuing bank and updated daily. Longer term CDs are great low-risk investment options, ranging from 1-year to 10-year CD rates. With your choice of the best CD rates for longer term commitments, you could grow your money over time with the interest earned to achieve your investment, retirement and other financial goals.
Here are ways to get the best CD rates for long term CDs:
The interest rate for your long term CD could affect how much your money will grow over the years. Jumbo CD deposits (amounts $100,000 or over) and the longest term CDs can earn some of the highest CD rates.
When choosing a CD, see if your deposit meets the minimum balance requirement to open an account and the minimum to earn the annual percentage yield (APY).
Please note that CD rates are fixed for the term of the CD and that you may be penalized for withdrawing funds before your certificate of deposit matures.
To keep your money safe, select institutions that are insured by the Federal Deposit Insurance Corporation (FDIC). Bank CDs are FDIC-insured up to $250,000 per depositor.
A long term CD is another option if you are considering transferring retirement funds into a CD. Unlike retirement investments that are dependent on the performance of the stock market, CDs are a safe place to put your nest egg. While the return may not be as high, they are a good choice for low-risk investors.
Use the table below to select the specific term and amount to find best CD rates with maturity of over one year.
Have you been able to find even better CD rates than the ones displayed above? If yes, please share them with us and other MoneyRates users! Please include the details: the name of the bank, APY, term of the CD, when you opened the account, and whether the account can be opened online or only in the branch (if the latter, please include the location of the branch). Thank you!