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Online CD Rates 2022 – 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 - October 1, 2022

2 Year CD National Average: 0.54% ?

Advertiser Disclosure
BANK APY? MIN?

| Aug 26, 2022

Too slow to raise rates. Read More

| Sep 22, 2022

Super easy to join. Happy to receive 3.51% on a 12 month CD!

| Mar 19, 2022

Problem with ties to puppy mills. I closed a cct. https://www.americanbanker.com/news/tab-bank-dragged-into-seedy-world-of-puppy-mill-loans-by-fintech-partner

| Jun 23, 2022

ING was better. They were bought by CapitalOne and ever since, my rates have steadily dropped. Now that rates in general have been rising for months, mine has been flat at 0.30%. No sign of them going up, ... Read More

Early Withdrawal Penalty is 270 days interest.

| 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

| Oct 19, 2018

Terrible Bank. Terrible Service. I tried to put a ton of money into a cd there. They rejected my application. Took them 6 days to tell me my money was no good. WTF? WORST Service EVER!

| 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

| 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

Early Withdrawal Penalty is 360 days interest.

| 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...

| Sep 11, 2022

If I could leave a -10 star review I would do it in a. This is a classic example of a ridiculously unmanaged government program with zero oversight and zero sensibility. In April 2022 I applied for a st...

| May 2, 2022

Barclays is the worst. Transfer speeds even worse than Synchrony now. Service is worse than anything. Save yourself the trouble of getting sucked into rates that are sometimes competitive and choose anythi...

| Sep 14, 2020

two thumbs up Read More

| Jul 1, 2022

Very easy opening process and wonderful staff.

| Aug 6, 2022

The idea that they aren't competing is wrong. They'll give you 1% more on your savings if you run around promoting their brand and get a friend to sign up. Great marketing scheme actually, since those so i... Read More

| Jun 13, 2022

3 days for an ach is not market when most banks on this list do it instantly. even frigging rising bank. customer service is beyond dreadful. Read More

| 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

| Sep 1, 2022

updated review - The bank managed to finally provide the requested document listing the beneficiary after a number of calls. So will add a few stars. The website still needs some work to be more descript... Read More

| Sep 20, 2022

Prime Alliance Bank has a single branch (outside Salt Lake City) and does an excellent job with distance banking (we are based in Washington state). It stands out in several ways: (1) Interfacing with the...

North American Savings Bank
2.79% $5,000 Learn More

Early Withdrawal Penalty is all interest earned.

| Mar 30, 2021

These guys are the best local bank. Very responsive.

| Sep 1, 2022

awful POS. Sucks. Bad. crappy. Read More

| Sep 23, 2022

I know that the bank is supposedly FDIC insured but the entire soft money lending thing upon which this business is predicated is about to go go under so look out below!

| Jun 25, 2022

I've been in and out of igo. I usually carry a large balance when they are rate competitive (half the time) and move by money somewhere else when they aren't (the other half). The $3,000 transfer limit is ... Read More

| Aug 31, 2022

you can view but you wont get in. application can't go through, they can't help even you called, Bank just make show they exit. Read More

| Aug 31, 2022

never had a problem moving money in/out. After trying a couple banks with higher rates but less service will be moving my money back here. Read More

| Aug 16, 2022

ally is still the gold standard in online banking, but the rate needs to get more competitive and the wait to speak to someone on the phone is just ridiculous. Read More

Seattle Bank
2.33% $1,000 Learn More

| Sep 30, 2022

I have been a customer for 34 years. But I have been dismayed by NFCUs slow responsiveness to be competitive in the market place with savings rates and to offer the best rates in the market. All I see is...

| Sep 27, 2022

has strange old rules for link external bank , takes more time and difficult for no check writing today, just want advised for their name and dont want you deposit money to their bank for 3% interest. Read More

| May 19, 2022

I was a long time customer. I took balances down below $200 in 2020 in order to buy a house during pandemic. I had always planned to deposit again in a rising rate environment. I logged back on today and ... Read More

| 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

Warning: Early Withdrawal Penalty is 2% of principal.

| Sep 6, 2019

Went to bank yesterday this is not a good rate. Needs to be updated. Read More

| Dec 13, 2019

yes good

| Jun 25, 2020

Nope. As with the CIT quote 1.25% APY is a bit optimistic. Banesco's site offers .90%.

OneWest Bank, a division of First-Citizens Bank and Trust
0.45% $1,000 Learn More

Early Withdrawal Penalty is 180 days interest.

Warning: Early withdrawal penalty is 12 months of interest

| Jun 20, 2018

Their website says the offer is going away tomorrow at 9AM EST. Hurry! Read More

| Jun 2, 2022

I've been a customer since CIT emerged from the financial crisis as a real competitor in this space (14 years or so). Zero complaints about anything over this time ... until today. Now they are offering a... Read More

Home Savings Bank
0.40% $5,000 Learn More

| 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...

| Jul 3, 2019

Just set up an account. Don't know long term yet, however they were (Kelsey) a dream to work with.

| Jun 26, 2022

ACH transfers are not allowed. Called and was told that I had to set up wire transfers (and pay fees) or I could come in to the bank and get a bank check. Read More

$1,000 minimum deposit to open an account. A penalty may be imposed for early withdrawal. Account fees may reduce your earnings.

| May 21, 2021

avoid this Read More

| 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...

| Jun 10, 2022

This bank hasn't raised their rates! Maybe I was sleeping but I need to get out of here fast. Read More

| Sep 14, 2022

you need open new account once interest going up, keep in mind your savings account only go down never go up unless you open new account. Read More

Ohio Catholic Fcu Federal Credit Union
Restrictions
0.20% $100,000 Learn More
Ohio Catholic Fcu Federal Credit Union
Restrictions
0.15% $500 Learn More

| Apr 18, 2018

Worst experience of my life. Did not fund and gave $25 to my own charity. Read More

| Jul 28, 2020

Dropped rates again with restrictive transfer limits and poor service. Better rates and liquidity elsewhere. Beware!!! Read More

| Aug 8, 2022

Left USAA after 30 years and never looked back. The rates were high and the claims problems were horrible once a major claim hit (my first and only one). Much happier since leaving USAA (and there rigid, u... Read More

All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

PRODUCT INFORMATION

Two Year CDs - Online Banks 2022

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; 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.