Two Year Certificates of Deposit (CD) rates from online banks are often above average if you are willing to open and manage your account using the Internet. Most online banks offer an online application and money can be transferred to fund the CD via an electronic transfer, check, wire, or credit card. To view rates for other CD terms, click the tabs above.
Highest Two-Year Online CD Rates - January 16, 2022
2 Year CD National Average: 0.53% ?
| BANK | APY? | MIN? | ||
|---|---|---|---|---|
|
|
0.87% | $5,000 | Learn More | |
|
DaveJ | Jun 21, 2021 Bad experiences with this bank and maturing CD's. I wanted the funds returned to my external bank and not rolled over into another CD. After several phone calls, and messages sent through their secure mess... Read More |
||||
|
|
0.85% | $2,500 | Learn More | |
|
Regan Dave | Nov 13, 2021 Rate is not unattractive in this environment but I will wait until January or February and see where things are then. |
||||
|
|
0.80% | $25,000 | Learn More | |
Warning: Early Withdrawal Penalty is 2% of the account balance. |
||||
|
Al | Apr 12, 2021 Frustrating. The initial application form is a breeze. Then the problems start. Many hoops to jump through. |
||||
|
|
0.75% | $1,500 | Learn More | |
|
Ulysses | Nov 9, 2021 Quirky website and lousy rate, but this is where we are what you need to do to avoid the zero-point-zero-one. Read More |
||||
|
|
0.70% | $500 | Learn More | |
|
Michelle G | Jul 15, 2021 Marcus is the very best online banking experience that I have ever had. Read More |
||||
|
|
0.70% | $1,000 | Learn More | |
Early Withdrawal Penalty is 360 days interest. |
||||
|
Jim Plew | Apr 22, 2015 Hello, I am interested in a line of credit against my home. I have a high interest credit card that I want to move to this credit. I have a wells fargo mortgage which is only a few years old which I do no... |
||||
|
|
0.70% | $2,500 | Learn More | |
|
Larry | Apr 29, 2021 You will not collect any interest and lose a good chunk of the principal. They don't take all of it you will still recover some money. The early withdrawl clause is always part of the terms you acknowled... |
||||
|
|
0.70% | $25,000 | Learn More | |
|
JohnC | Oct 11, 2020 You probably thought - as did I - that you were looking at a site that belongs to and was the responsibility of Gateway First. After all it includes their headings, selected financial statements, many pag... Read More |
||||
|
|
0.66% | $1,000 | Learn More | |
Warning: Early Withdrawal Penalty is the greater of all credited interest or 90 days interest. |
||||
|
Jay Riesman | Apr 9, 2021 Unprofessional in every way imaginable. |
||||
|
|
0.65% | $0 | Learn More | |
|
GAM | Nov 8, 2021 As of 11/03/2021 online savings rate increased to 0.50% |
||||
|
|
0.65% | $2,000 | Learn More | |
|
Peter C2 | Jan 23, 2021 In terms of service, you cannot do anything online. On every other bank, you can message someone online and get a quick response. You need to call Synchrony and speak with someone in the Philippines. N... Read More |
||||
|
|
0.65% | $2,500 | Learn More | |
|
Pjamas | Sep 14, 2020 two thumbs up Read More |
||||
|
|
0.65% | $5,000 | Learn More | |
|
Taykadip | Jan 4, 2020 I am surprised at all the negative reviews. I have had several large CDs at this bank for several years, and I've gotten the best customer service I've ever gotten at any bank in the last 45 years. Read More |
||||
|
|
0.60% | $500 | Learn More | |
|
JaySN | Dec 6, 2021 Works fine, but I wish interest were credited monthly and not quarterly. |
||||
|
|
0.60% | $1,000 | Learn More | |
|
Cheryl | Jul 15, 2021 I finally closed my account. Was great back in the day as everbank but now it is a joke in every way. Read More |
||||
|
|
0.60% | $2,500 | Learn More | |
|
j975 | Nov 6, 2021 Website agonizingly SLOOOOOWWW. Only 3 linked external accounts allowed. |
||||
|
|
0.60% | $10,000 | Learn More | |
|
Eldridge D. | Feb 7, 2021 I cannot comment on Bankdirect, but I can comment on the Bask Bank subsidiary. Opening this account to earn AAdvantage miles is the best move I've made in years! I am getting 100,000 frequent flier miles... Read More |
||||
|
|
0.60% | $10,000 | Learn More | |
|
LarryMass | Dec 8, 2020 Everyone here in Boston raves about Salem Five but it is shithole operation filled with nasty entitled people. As for this online savings product, the fees are ridiculous, the transfer charges are obnoxiou... Read More |
||||
|
Restrictions |
0.60% | $100,000 | Learn More | |
|
David | Jul 16, 2021 David |
||||
|
|
0.60% | $100,000 | Learn More | |
|
12JBS34 | Aug 13, 2021 Very pleased with the no penalty cd which locks in a rate for 15 months and is always .10% above the savings rate. Read More |
||||
|
|
0.55% | $0 | Learn More | |
|
JC | Nov 5, 2021 I opened an interest checking account with Ally after reading all the glowing comments online. My first experience with Ally was anything but glowing. The customer rep tried to charge me $15 for a debit ca... Read More |
||||
|
Restrictions |
0.55% | $1,000 | Learn More | |
|
David | Jul 16, 2021 David |
||||
|
|
0.55% | $1,000 | Learn More | |
|
opal@8 | Dec 13, 2019 yes good |
||||
|
|
0.50% | $500 | Learn More | |
|
BW | Jul 17, 2021 I've been with this bank for 6 months and have not had any problems. Bill pay works good. The 24 month investing CD is another vechile I use. Rates are above average considering the national rate. I'd reco... Read More |
||||
|
|
0.50% | $1,000 | Learn More | |
|
12JBS34 | Aug 13, 2021 Very pleased with the no penalty cd which locks in a rate for 15 months and is always .10% above the savings rate. Read More |
||||
|
|
0.50% | $1,500 | Learn More | |
|
Savvysaver | Jun 25, 2020 Nope. As with the CIT quote 1.25% APY is a bit optimistic. Banesco's site offers .90%. |
||||
|
|
0.50% | $25,000 | Learn More | |
|
SandyB | Aug 25, 2020 Bank is owned by a Florida bank and yet I wasn't able to open an account because I live in Florida. Go figure! Read More |
||||
|
|
0.50% | $25,000 | Learn More | |
|
me | Oct 13, 2021 Good for savers. Easy to transfer funds in and out, not paying high transaction processing $ or being limited to low amounts per day. Does not subject applicants to very much ID interrogation and apparent... Read More |
||||
|
|
0.45% | $1,000 |
Learn More
|
|
|
|
0.40% | $0 | Learn More | |
|
Rebecca01 | Aug 3, 2020 There is a lot to like about this account. American Express is a real organization and you are not playing with a bunch of amateurs like with a lot of these banks. However, they will be sure to lower the ... Read More |
||||
|
|
0.40% | $500 |
Learn More
|
|
Early Withdrawal Penalty is 180 days interest. |
||||
|
|
0.40% | $500 | Learn More | |
Warning: Early withdrawal penalty is 12 months of interest |
||||
|
Jason | Jun 20, 2018 Their website says the offer is going away tomorrow at 9AM EST. Hurry! Read More |
||||
|
|
0.40% | $1,000 | Learn More | |
|
Jay | May 10, 2021 Dollar Savings Direct is as close as anything gets to a scam without being labeled a scam. CDs renewing below market rates at no notice. Savings rates going above market levels and then way below (again no... Read More |
||||
|
|
0.40% | $10,000 | Learn More | |
Warning: Early Withdrawal Penalty is 2% of principal. |
||||
|
carscoupons@comcast.net | Sep 6, 2019 Went to bank yesterday this is not a good rate. Needs to be updated. Read More |
||||
|
|
0.40% | $100,000 | Learn More | |
|
BeccaB-88 | Jul 21, 2020 Opened account a month ago. I've already seen the rate fall a couple of times, but have no other complaints. Easy process and a clear easy to use site (unlike Ally where I was before). Read More |
||||
|
|
0.35% | $500 | Learn More | |
|
Savvysaver | Jun 17, 2020 Confirmed - NOT an online bank! Emailed CFSB, response: Thanks for your email. Unfortunately, we do not open accounts online and we currently offer only account opening at our branches in New York. Thank Y... |
||||
|
|
0.35% | $10,000 | Learn More | |
Early Withdrawal Penalty is 270 days interest. |
||||
|
TulsaGirl01 | Apr 10, 2021 I opened an account a couple of years ago and had a dreadful experience. I saw two weeks ago that the rate was better than at Citizens so I closed that account for this one. I cannot access my money now or... Read More |
||||
|
|
0.30% | $25,000 | Learn More | |
|
aprz | Jul 3, 2019 Just set up an account. Don't know long term yet, however they were (Kelsey) a dream to work with. |
||||
|
|
0.30% | $50,000 | Learn More | |
|
Rob | Jan 15, 2022 I've done some work with these guys. This is a New Jersey-based bitcoin ponzi scheme run by a bunch of 30-something Wall Street throw aways. If you must chase 51 bps, I suggest you do it somewhere else. Read More |
||||
|
|
0.25% | $1,000 | Learn More | |
$1,000 minimum deposit to open an account. A penalty may be imposed for early withdrawal. Account fees may reduce your earnings. |
||||
|
nonsense | May 21, 2021 avoid this Read More |
||||
|
|
0.25% | $1,000 | Learn More | |
|
Joe | Dec 5, 2020 I know rates are variable, at their discretion*, but in the time frame of 9 months their rates have dropped to 1/3 of what they were ! is that what some call a teaser rate in the beginning ??? Read More |
||||
|
|
0.25% | $2,500 | Learn More | |
|
dbestway@gmail.com | Aug 13, 2019 I filled out the application 10 days ago answering all questions and sent a file with a copy of my drivers license to Western Bank. I received an email saying that a banker would call me within one busines... |
||||
|
|
0.25% | $10,000 | Learn More | |
|
GAM | Dec 8, 2021 Marcus (GS) and Barclay high yield savings both 0.50%. Read More |
||||
|
|
0.20% | $1,000 | Learn More | |
|
Puffin | Dec 28, 2021 I made a deposit and issued a check which arrived and they bounced it although they claimed the deposit cleared which left us spending Christmas pennyless. We depended on that money to buy ourselves food ... Read More |
||||
|
Restrictions |
0.20% | $100,000 |
Learn More
|
|
|
Restrictions |
0.15% | $500 |
Learn More
|
|
|
|
0.15% | $500 | Learn More | |
|
fdknef | Jul 9, 2021 "Vio" application process is defective, I used to work on bank security so truthfully responded. Requires documentation which I sent in at length and then got denied because of unknown reasons. Have excell... Read More |
||||
|
|
0.15% | $1,000 | Learn More | |
|
CHow1975 | Nov 18, 2017 This is a decent account until you need to withdraw something and then it is hell on wheels. Read More |
||||
|
|
0.10% | $500 | Learn More | |
|
Mike | Jan 10, 2022 Opened for the higher rate. Somewhat tricky to get the account opened, and I am disappointed to learn that albeit a Massachusetts bank it does not do DIY so cannot deposit over 1/4 mil. |
||||
|
|
0.10% | $1,000 | Learn More | |
|
Dudley | Apr 18, 2018 Worst experience of my life. Did not fund and gave $25 to my own charity. Read More |
||||
|
|
0.10% | $5,000 | Learn More | |
|
Jeff | Oct 28, 2021 The website is easy to use. The savings rates for an online bank are terrible. Read More |
||||
|
|
0.10% | $5,000 | Learn More | |
|
GAM | Jul 28, 2020 Dropped rates again with restrictive transfer limits and poor service. Better rates and liquidity elsewhere. Beware!!! Read More |
||||
|
|
0.03% | $1,000 | Learn More | |
|
Azblondie007 | Feb 24, 2020 I had been with USAA for 20 years. Had my checking, savings, auto and renters insurance and 2 credit cards with them. I work in the service industry and make a good portion of my income in cash tips. For 4... Read More |
||||
Two year certificates of deposit provide a saver with a fixed rate for two years in return for a commitment for keeping the money in the bank during that period. If the CD is "broken" and the funds are taken out earlier, banks assess a substantial penalty. A depositor should only invest in a two year CD if they do not need the money for the term of the CD. All two year CDs listed on BestCashCow are FDIC insured.
Online banks often offer rates that are higher than a CD from a branch-based bank. An individual who is comfortable banking and managing their money online may find an online bank to be a good choice. But before opening an account, it is wise to research the following questions:
All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, please visit the FDIC website.
To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.
