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Online CD Rates 2024 – 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 - February 24, 2024

2 Year CD National Average: 0.65% ?

Advertiser Disclosure
BANK APY? MIN?

| 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

Early Withdrawal Penalty is 6 months interest.

| Jan 5, 2024

Easy to use site, great rates and good customer svc. Can get to real bankers via voice, chat or live video. Read More

Early Withdrawal Penalty is 360 days interest.

| Jan 30, 2024

Have an IRA rollover, they don't take IRAs any longer.

Early Withdrawal Penalty is 6 months Interest.

| Jul 1, 2022

not really an onllne bank. compare this interface that gives you no information with that of any other bank (I cannot even confirm the rate). cannot switch in and out of cds or np cds. just not an online b... Read More

Early Withdrawal Penalty is 270 days interest.

| Dec 18, 2023

I submitted a CD application 18 months 5.50 APY over a week ago and my application was declined no reason was given, I have the funds in another bank for transfer, credit score over 800. I think the reason... Read More

| Nov 8, 2023

I see nothing exciting about AmEx Bank. Sign on is a hassle and the rates are adequate. Multiple accounts are not summarized. To cancel maturing CDs require phoning in or snail mail. Above average serv... Read More

Early Withdrawal Penalty is 180 days interest.

| Feb 15, 2024

If a 4.60% rate is the best 5-year CD rate, then you are better off with a 5-year US Treasury at 4.30% if you live in a higher tax state like IL, NY, MA or me in CA. That having been said, Brio is worth k... Read More

Early Withdrawal Penalty is 180 days interest.

| Nov 21, 2023

A real pain in the *** process to try and get approved! They were unable to match my drivers license photo with my live image after several times trying! Went to limelight bank instead and got approved in ...

| Jul 23, 2023

easy to work with but the rate isn't competitive. not even the leading savings rate banks are competitive versus short us treasuries. Read More

| Jul 1, 2022

Very easy opening process and wonderful staff.

Signature Federal Credit Union
Restrictions
4.65% $500 Learn More

Early withdrawal penalty is 180 days interest.

| Aug 13, 2023

Yup Bread has 5k daily and 30k monthly limit on ach transfers. It's low but there are other banks who have similar ach limits if not lower like Valley Direct Bank and BMO Alto. The part that bothers me i... Read More

| Dec 25, 2023

I joined in PENFED in Spring Of 2023 after 15 yrs of belonging to one of the banking giants. I found my accounts dwindling fast unexplained decreases. I decided to close the account but had to return a mer...

| Feb 3, 2023

So I financed a camper through this group. The plumbing water sewer black and gray tank fell to the ground 30 days after purchase. It was being “ fixed “ for almost 5 months the dealer assured me I wou...

Home Savings Bank
4.55% $5,000 Learn More

Warning: Early withdrawal penalty is 12 months of interest

| Jul 6, 2023

This is an example of a bad bank. Their online process for purchasing a CD is horrible. You fill it out and it rejects it after all of your private information is disclosed. They there customer service is ... Read More

Early Withdrawal Penalty is 90 days interest.

| May 6, 2023

Fully functional bank account that would be great for my needs, but the quarterly interest payment thing is a real nuisance. I wish they would change it. It isn't market.

Warning: Early withdrawal penalty equals two years of interest.

| Mar 17, 2023

STAY AWAY ! They closed my accounts with no warning. After multiple successful direct deposits and mobile checks deposits, they claimed one of the three checks I deposited a few days ago was fake. No...

Early withdrawal penalty is one-fourth the amount of interest that would have been earned had CD been held to maturity.

| Nov 12, 2023

This was terrible as Everbank. Then it was terrible as TIAA. Now it is terrible as Everbank again. Not sure where they are going with the branding, but still terrible. (Bestcashcow's system is forcing ... Read More

| Aug 26, 2023

I have no issues with Bask Bank nor Texas Capital Bank. They provide good apy on savings and CD's, bank to keep funds secured so yes they do have strict security measures but if you don't like it than go ... Read More

| Aug 2, 2023

Sallie mae is just a horrible institution. We've done business with them before and swore on the holy bible not to go near there again, but a 18 mos cd at 5.55% brought us back.

| Nov 12, 2022

I was shopping for deposit rates in August, and NerdWallet, a site I had previously trusted, had it on their list. I was unaware they took deposits. They are the only bank that ever duplicated a transactio...

Modern Bank, National Association
4.50% $10,000 Learn More

| Feb 15, 2024

best bank on the list but no longer the most competitive Read More

| Feb 15, 2024

I have always had great experiences with short-term CDs from this bank. No delays.

Warning: Early Withdrawal Penalty is 2% of the account balance.

| Jul 3, 2023

A 2% early withdrawal fee on a 1-year CD is almost equally insane as a 270 day one.

| Mar 21, 2023

Parent seems to be owned by a large Chilean bank. Not saying this is good or bad, but it is complication, especially in the current environment. Read More

| Jan 2, 2024

Like others, I've been with Capital One and its predecessor ING Direct since 2007. I've also been getting cheap bank rates on my savings account and didn't realize that there was something better, although... Read More

| Aug 26, 2022

Too slow to raise rates. Read More

| Apr 18, 2018

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

| Feb 25, 2023

HORRIBLE SERVICE. My son's campus checking account was hacked and over $9000 was stolen. Fraud department was impossible to reach and we waited on phone several days for over 2 hours at a time. They too...

| Oct 23, 2023

Synchrony Bank recently closed 3 of my accounts with them and this decision was completely unwarranted. I had two Guitar Center cards and one Levin Furniture card. I found out about this through a push not... Read More

| Feb 25, 2023

HORRIBLE SERVICE. My son's campus checking account was hacked and over $9000 was stolen. Fraud department was impossible to reach and we waited on phone several days for over 2 hours at a time. They too...

Early Withdrawal Penalty is 180 days interest.

| 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...

| Jan 10, 2024

AVOID at all costs. We read the addendum to the final page of the LENGTHY account agreement mailed to us after completing the online portion. Guess what? It gives this sweet seeming Discover Bank access to... Read More

Umbrella Bank
3.95% $10,000 Learn More

Warning: Early Withdrawal Penalty is 2% of principal.

| Dec 30, 2018

Garden14 Read More

| Aug 13, 2023

Been a customer for a couple of years now with interesting checking, been a happy customer. They give you a $10 reimbursement on atm fees per statement cycle. They pay you to leave your money there curre... Read More

| Nov 28, 2022

While USAA was at one point a great option for all your banking needs, the service has deteriorated so much that I'm currently in the process of changing banks after more than 2 decades. The final straw w... Read More

Ohio Catholic Fcu Federal Credit Union
Restrictions
3.50% $500 Learn More

| Dec 21, 2023

Very easy to setup 6 month 5.35% CD from cornerstone account Read More

Blue Foundry Bank
3.50% $1,000 Learn 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

| Nov 12, 2023

Finworth looks legit, but their online disclosures and incomplete and you cannot reach them by phone and they don't respond to inquiries. I am moving along and you should too. Read More

Early Withdrawal Penalty in 180 days interest.

| Jun 13, 2023

I'll steer clear of Dollar Savings Direct and My Savings Direct until they guarantee users at both online divisions their best rates. Banks have the right to segment their customers yes, but these games w... Read More

Forbright Bank
3.00% $1,000 Learn More

| Apr 25, 2023

with all of these online bank, including the well known ones, delaying transfers forever in order to fund these high rates, this one still executes inbound and outbound transfers immediately. Read More

Early Withdrawal Penalty is all interest earned.

| Mar 30, 2021

These guys are the best local bank. Very responsive.

| Feb 16, 2024

External Accounts Transfer restrictions are absurd. Brio Direct is an online & mobile savings account . They blocked my ability to transfer external funds because they are asking for my id and statement f... Read More

| Nov 3, 2023

site does not update at all, totally wrong rates listed

| Apr 30, 2019

No issues. I feel confident using them. 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

| 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...

Norwood Bank
1.26% $1,000 Learn More
Idaho Central Credit Union
Restrictions
0.90% $500 Learn More

| Jan 27, 2023

The worst bank I have ever had Read More

Early Withdrawal Penalty is 180 days interest.

| Feb 25, 2023

I have been working for this company more than 5 years. I would not recommend any investment with First Citizens Bank. They are the worst performer on the market based on the customer and employee reviews... Read More

| 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

| Dec 21, 2022

Stay away from this bait and switch bank that uses teaser rates. They lowered my interest rate twice in the first 2 months of opening my account. They said they had the right to change their rate at any ti... 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

| Apr 25, 2022

broke the machine, braddah

OneWest Bank, a division of First-Citizens Bank and Trust
0.05% $500 Learn More

| Jan 29, 2024

Tried to enter information on line to open a 5 year CD, multiple time and wasn't accepted. Talked to a live person who was of no help at all. My credit score is over 800 and I have plenty of money in oth... 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 2024

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.