The best 2-year CD rate is 5.10% APY from Credit Human. To find you the highest 2-year CD rates nationwide, we review CD rates from hundreds of banks and credit unions every day. CD terms of 21 to 29 months are eligible for our 2-year rankings, with minimum deposit requirements of up to $25,000. When you have money you want to save for a goal that's still a bit on the horizon, or simply have surplus savings you won't need to touch for a couple of years, a 2-year certificate of deposit (CD) can keep your savings safe and protected. Below are the top certificate of deposit rates available from our partners, followed by the best CD rates that we've found from our research that are available to U.S. customers everywhere.
IN THE NEWS
The Fed held rates steady for a seventh consecutive time at its June 12 meeting. The federal funds rate is at its highest level since 2001, but Fed officials are projecting one or possibly two rate cuts before the end of the year. CD yields closely follow the fed funds rate. Back in October, CD rates reached peaks not seen in more than 20 years, but once the Fed starts cutting rates, CD rates will fall.
You can find our ranking of the highest CD rates with terms of 21-29 months below. In cases where more than one institution pays the same top rate, we prioritize CDs by the shortest term, then the CD requiring a smaller minimum deposit, and if still a tie, alphabetically by institution name.
Best 2-Year CD Rates
- Credit Human - 5.10% APY
- Heartland Credit Union - 5.00% APY
- West Town Bank and Trust - 5.00% APY
- ableBanking - 4.95% APY
- Crescent Bank - 4.90% APY
- Department of Commerce Federal Credit Union - 4.86% APY
- Pelican State Credit Union - 4.86% APY
- MYSB Direct - 4.85% APY
- My eBanc - 4.85% APY
- The Federal Savings Bank - 4.85% APY
- USAlliance Financial - 4.80% APY
- Colorado Federal Savings Bank - 4.80% APY
- NexBank - 4.80% APY
- Lafayette Federal Credit Union - 4.78% APY
- First Internet Bank - 4.76% APY
- Luana Savings Bank - 4.76% APY
Full details on these top-paying nationally available 2-year CDs are outlined below, including information about minimum deposits and early withdrawal penalty. For credit union CDs, information is also provided on how to easily join the credit union.
Looking for a wider selection of CDs? See our picks for the best CD rates to see terms ranging from three months to 10 years.
Credit Human - 5.10% APY
- Term (months): 18-23
- Minimum deposit: $500
- Early withdrawal penalty: 9 months of interest ($50 minimum)
- Membership: Anyone can join Credit Human by agreeing to a complimentary membership in the nonprofit American Consumer Council and keeping at least $5 in a member savings account.
Heartland Credit Union - 5.00% APY
- Term (months): 24
- Minimum deposit: $500
- Early withdrawal penalty: 6 months of interest
- Overview: Anyone can join Heartland by keeping $25 in a member savings account.
West Town Bank and Trust - 5.00% APY
- Term (months): 24
- Minimum deposit: $10,000
- Early withdrawal penalty: 3 months of interest
- Overview: Founded in 1922 and based in North Riverside, Illinois, West Town Bank and Trust also operates out of Raleigh, North Carolina. West Town Bank and Trust does not offer online account opening, but CD accounts are available nationwide and can be opened by phone.
ableBanking - 4.95% APY
- Term (months): 24
- Minimum deposit: $5,000
- Early withdrawal penalty: 3 months of interest
- Overview: This is an online division of Northeast Bank, established in 1872 and headquartered in Portland, Maine.
Crescent Bank - 4.90% APY
- Term (months): 24
- Minimum deposit: $1,000
- Early withdrawal penalty: 6 months of interest
- Overview: Headquartered in New Orleans, Crescent Bank was founded in 1991.
Department of Commerce Federal Credit Union - 4.86% APY*
- Term (months): 12-23
- Minimum deposit: $25,000
- Early withdrawal penalty: 6 months of interest
- Membership: Anyone can join the DCFCU by agreeing to a free membership in the nonprofit American Consumer Council.
*Rates listed in DCFCU's rate charts are 0.10% lower than what's listed here, for a minimum deposit amount of $500. But the fine print indicates that for deposits of $25,000, a 0.10% premium applies.
Pelican State Credit Union - 4.86% APY
- Term (months): 21
- Minimum deposit: $500
- Early-withdrawal penalty: 9 months of interest
- Membership: Anyone can join Pelican State by making a $5 donation to one of the credit union's affiliated nonprofits and making a $10 opening deposit in a member savings account ($5 goes to a one-time membership fee while the other $5 remains in your savings account as a required minimum balance).
MYSB Direct - 4.85% APY
- Term (months): 24
- Minimum deposit: $500
- Early withdrawal penalty: Al interest (3 months minimum)
- Overview: MYSB Direct is the online banking arm of M.Y. Safra Bank, which is headquartered in New York City and operates a single branch there.
My eBanc - 4.85% APY
- Term (months): 24
- Minimum deposit: $5,000
- Early withdrawal penalty: 6 months of interest
- About: My eBanc is an online banking arm of the brick-and-mortar institution BAC Florida Bank, established 1973.
The Federal Savings Bank - 4.85% APY
- Term (months): 24
- Minimum deposit: $5,000
- Early withdrawal penalty: 12 months of interest
- Overview: The Federal Savings Bank is a national bank with a network of over 55,000 ATMs across the U.S. It offers checking and savings accounts, as well as mortgages and loans. Headquartered in Chicago, it was established in 2000.
USAlliance Financial - 4.80% APY
- Term (months): 24
- Minimum deposit: $500
- Early withdrawal penalty: 12 months of interest
- Overview: Anyone can join USAlliance by agreeing to a free membership in the nonprofit American Consumer Council and keeping at least $1 in a savings account. Established in 1966 to serve IBM employees, USAlliance is headquartered in Rye, New York.
Colorado Federal Savings Bank - 4.80% APY
- Term (months): 24
- Minimum deposit: $5,000
- Early withdrawal penalty: 6 months of interest
- About: Colorado Federal was founded in 1990 and is headquartered in Greenwood Village, Colorado. In addition to serving communities across the state, it serves customers nationwide with online banking.
NexBank - 4.80% APY
- Term (months): 24
- Minimum deposit: $10,000
- Early withdrawal penalty: 6 months of interest
- About: Founded in 1934, NexBank operates three branches in Dallas and serves customers nationwide with online banking.
Lafayette Federal Credit Union - 4.78% APY
- Term (months): 24
- Minimum deposit: $500
- Early withdrawal penalty: 9 months of interest
- Membership: Anyone can join Lafayette Federal with a $10 membership in the Home Ownership Financial Literacy Council and $50 or more held in a savings account.
First Internet Bank - 4.76% APY
- Term (months): 24
- Minimum deposit: $1,000
- Early withdrawal penalty: 12 months of interest
- Overview: First Internet Bank is so named because it claims to be the first FDIC-insured bank to operate exclusively online. Founded in 1999, it is based in the Indianapolis suburb of Fishers, Ind.
Luana Savings Bank - 4.76% APY
- Term (months): 24
- Minimum deposit: $5,000
- Early withdrawal penalty: 6 months of interest
- Overview: Luana Savings Bank was founded in 1908 in northeastern Iowa, and in addition to operating six Iowa branches, it serves nationwide customers online. Luana was founded in 1908 and is headquartered in Luana, Iowa.
Fast Fact
When asked in late April what they would invest in if they had an extra $10,000, 12% of Googlawi readers said they would open a CD. Back in December and January, 11% and 9% of readers (respectively) said they’d invest extra funds in CDs, with that share dipping even further to 8% in March. While CDs sit below individual stocks as the top response (at 19%), CDs are always a good option for those looking for safer investments.