Long Term CD Rates
Long term CD rates typically bring in a higher yield than short term CD rates. However you should take the time to compare all certificate of deposit rates because sometimes this rule doesn’t always hold true. Keep your money in your checking account until you find a good rate. If you want a liquid account with an interest rate you should look at our savings account rates.
If banks believe that interest rates are going to drop in the future, they’ll lower their long term rates to the point that you can get a better rate for a shorter term CD. This is why it’s always worth shopping around for your CDs. If you’re looking into an IRA, long term IRA CD rates are the way to go.
However you should take into consideration that if you get a short term CD because the rate is very close to that of a long term CD, then the rates drop across the board, you’ll be forced to renew into a lower rate CD when your certificate matures. It’s up to you to decide if you think rates are going to fall in the future or if they’re going to be on the rise. If you think they’ll fall you should go with something with a longer term. Here are the best long term CDs available on the national market:
2 Year CDs
| Bank Name | Minimum Deposit | Annual Percentage Yield (APY) |
|---|---|---|
| Alliant Credit Union | $25,000 | 2.55% |
| Northrop Grumman Federal Credit Union | $40,000 | 2.51% |
| America's Credit Union | $500 | 2.5% |
| Hudson City Bank | $5,000 | 2.5% |
| Frontier Bank | $50,000 | 2.5% |
| Melrose Credit Union | $5,000 | 2.47% |
| ELOAN | $10,000 | 2.37% |
3 Year CDs
| Bank Name | Minimum Deposit | Annual Percentage Yield (APY) |
|---|---|---|
| Alliant Credit Union | $25,000 | 3% |
| Flagstar | $500 | 3% |
| Hudson City Bank | $5,000 | 3% |
| Melrose Credit Union | $5,000 | 2.98% |
| Intervest National Bank | $2,500 | 2.90% |
| Frontier Bank | $50,000 | 2.80% |
| Equity Bank | $1,000 | 2.76% |
| NewDominion Bank | $3,000 | 2.76% |
| Discover Bank | $2,500 | 2.75% |
| Acacia Federal Savings Bank | $500 | 2.75% |
4 Year CDs
| Bank Name | Minimum Deposit | Annual Percentage Yield (APY) |
|---|---|---|
| Melrose Credit Union | $5,000 | 3.34% |
| Hudson City Bank | $5,000 | 3.25% |
| Flagstar | $500 | 3.25% |
| BankUnited | $5,000 | 3.25% |
| Alliant Credit Union | $25,000 | 3.25% |
| Frontier Bank | $50,000 | 3.25% |
| Intervest National Bank | $2,500 | 3.20% |
| Equity Bank | $1,000 | 3% |
5 Year CDs
| Bank Name | Minimum Deposit | Annual Percentage Yield (APY) |
|---|---|---|
| Melrose Credit Union | $5,000 | 3.80% |
| Apple Federal Credit Union | $50,000 | 3.70% |
| Northwest Federal Credit Union | $25,000 | 3.58% |
| USAA Bank | $1,000 | 3.51% |
| Citibank | $500 | 3.5% |
| Flagstar | $500 | 3.5% |
| iGoBanking | $500 | 3.5% |
7 Year CDs
| Bank Name | Minimum Deposit | Annual Percentage Yield (APY) |
|---|---|---|
| Apple Federal Credit Union | $50,000 | 4% |
| Pentagon Federal Credit Union | $1,000 | 4% |
| USAA Bank | $1,000 | 3.61% |
| Discover Bank | $2,500 | 3.55% |
| Intervest | $2,500 | 3.29% |
| Third Federal | $500 | 3.25% |
| Capital One Costco | $5,000 | 2.05% |
