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Online CD Rates 2020 – 2-Year CDs

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 - March 31, 2020

2 Year CD National Average: 0.80% ?

Advertiser Disclosure
Gateway First Bank
2.02% 2.52x $25,000
BankDirect, a division of Texas Capital Bank
1.95% 2.43x $10,000
American Express Bank, FSB
1.90% 2.37x $0
Barclays Bank Delaware
1.85% 2.30x $0
1.85% 2.30x $500
Discover Bank
1.75% 2.18x $2,500
Navy Federal Credit Union
1.70% 2.12x $1,000
Comenity Direct
1.65% 2.05x $1,500
TIAA Bank / Everbank
1.60% 1.99x $1,000
Warning: Early withdrawal penalty equals two years of interest.
Merrick Bank
1.60% 1.99x $25,000
Ally Bank
1.50% 1.87x $0
Early Withdrawal Penalty is 180 days interest.
Synchrony Bank
1.50% 1.87x $2,000
Sallie Mae Bank
1.50% 1.87x $2,500
Live Oak Banking Company
1.50% 1.87x $2,500
Colorado Federal Savings Bank
1.50% 1.87x $5,000
Citizens Access
1.50% 1.87x $5,000
Prime Alliance Bank
1.45% 1.81x $0
Northern Bank Direct
1.45% 1.81x $10,000
Early Withdrawal Penalty is 360 days interest.
Bank5 Connect
1.40% 1.74x $500
CIT Bank
1.40% 1.74x $1,000
USAA Federal Savings Bank
1.31% 1.63x $175,000
Home Loan Investment Bank, F.S.B.
1.30% 1.62x $2,500
TotalDirect, a division of City National Bank of Florida
1.30% 1.62x $25,000
ableBanking, a division of Northeast Bank
1.25% 1.56x $1,000
Warning: Early Withdrawal Penalty is the greater of all credited interest or 90 days interest.
BAC Florida
1.25% 1.56x $100,000
1.20% 1.49x $1,000
Rising Bank, a division of Midwest BankCentre
1.20% 1.49x $1,000
OneWest Bank, a division of CIT Bank
1.10% 1.37x $1,000
Dollar Savings Direct, a division of Emigrant Bank
1.10% 1.37x $1,000
Early Withdrawal Penalty is 2% of principal.
Purepoint MUFG Union
1.01% 1.26x $10,000
Radius Bank
1.00% 1.25x $500
MapleMark Bank
1.00% 1.25x $25,000
Incredible Bank, a division of River Valley Bank
0.95% 1.18x $1,000
Early Withdrawal Penalty is 270 days interest.
Capital One 360
0.95% 1.18x $10,000
Ohio Catholic
0.75% 0.93x $100,000
Ohio Catholic
0.70% 0.87x $500
Vio Bank, A Division of MidFirst Bank
0.60% 0.75x $500
Axos Bank, a division of Bofi Federal Bank
0.40% 0.50x $1,000, a division of Flushing Bank
0.15% 0.19x $1,000
BankPurely, a division of Flushing Bank
0.15% 0.19x $1,000
All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.


Two Year CDs - Online Banks 2020

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:

  • How long does it take to open a CD and when is the rate locked?
  • How can the account be funded? More sophisticated banks provide an electronic means of funding while less sophisticated rely on sending a check via the mail.
  • How is the consumer notified when their CD is nearing maturity?
  • How can the funds be withdrawn once the CD has matured?
  • Is there an advantage to 2-Year Certificate of Deposit over Online Savings Accounts?

All banks listed on BestCashCow are FDIC insured; 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.


Find out how much extra money you can earn by moving your bank money into an account that pays more.

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