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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 - October 22, 2020

2 Year CD National Average: 0.55% ?

Advertiser Disclosure
BANK APY? Vs.
Nat'l
Av.
MIN?
InsBank
0.95% 1.73x $2,500 Learn More
Navy Federal Credit Union
Restrictions
0.95% 1.73x $100,000 Learn More
Navy Federal Credit Union
Restrictions
0.90% 1.64x $1,000 Learn More
Primary Bank
0.90% 1.64x $1,000 Learn More
Home Loan Investment Bank, F.S.B.
0.85% 1.55x $2,500 Learn More
Merrick Bank
0.85% 1.55x $25,000 Learn More
USAA Federal Savings Bank
0.81% 1.47x $175,000 Learn More
Early Withdrawal Penalty is 180 days interest.
Colorado Federal Savings Bank
0.80% 1.45x $5,000 Learn More
BAC Florida
0.80% 1.45x $5,000 Learn More
Ally Bank
0.75% 1.36x $0 Learn More
Early Withdrawal Penalty is 360 days interest.
Comenity Direct
0.75% 1.36x $1,500 Learn More
TotalDirect, a division of City National Bank of Florida
0.75% 1.36x $25,000 Learn More
Gateway First Bank
0.75% 1.36x $25,000 Learn More
Ohio Catholic
Restrictions
0.75% 1.36x $100,000 Learn More
Ohio Catholic
Restrictions
0.70% 1.27x $500 Learn More
Synchrony Bank
0.70% 1.27x $2,000 Learn More
Live Oak Banking Company
0.70% 1.27x $2,500 Learn More
BankDirect, a division of Texas Capital Bank
0.70% 1.27x $10,000 Learn More
MapleMark Bank
0.70% 1.27x $25,000 Learn More
Goldman
0.65% 1.18x $500 Learn More
Rising Bank, a division of Midwest BankCentre
0.65% 1.18x $1,000 Learn More
Banesco USA
0.65% 1.18x $1,500 Learn More
Discover Bank
0.65% 1.18x $2,500 Learn More
Prime Alliance Bank
0.60% 1.09x $0 Learn More
Bank5 Connect
0.60% 1.09x $500 Learn More
TIAA Bank / Everbank
0.60% 1.09x $1,000 Learn More
ableBanking, a division of Northeast Bank
0.60% 1.09x $1,000 Learn More
Dollar Savings Direct, a division of Emigrant Bank
0.60% 1.09x $1,000 Learn More
Sallie Mae Bank
0.60% 1.09x $2,500 Learn More
Citizens Access
0.60% 1.09x $5,000 Learn More
Warning: Early Withdrawal Penalty is the greater of all credited interest or 90 days interest.
Radius Bank
0.50% 0.91x $500 Learn More
iGobanking.com, a division of Flushing Bank
0.50% 0.91x $25,000 Learn More
Northern Bank Direct
0.45% 0.82x $500 Learn More
OneWest Bank, a division of CIT Bank
0.45% 0.82x $1,000 Learn More
Early Withdrawal Penalty is 270 days interest.
Brix Direct, a division of Cross River Bank
0.45% 0.82x $50,000 Learn More
American Express Bank, FSB
0.40% 0.73x $0 Learn More
Barclays Bank Delaware
0.40% 0.73x $0 Learn More
Incredible Bank, a division of River Valley Bank
0.40% 0.73x $1,000 Learn More
Axos Bank, a division of Bofi Federal Bank
0.40% 0.73x $1,000 Learn More
Early Withdrawal Penalty is 2% of principal.
CIT Bank
0.40% 0.73x $100,000 Learn More
Vio Bank, A Division of MidFirst Bank
0.25% 0.45x $500 Learn More
Capital One 360
0.25% 0.45x $1,000 Learn More
WebBank
0.25% 0.45x $2,500 Learn More
Purepoint MUFG Union
0.25% 0.45x $10,000 Learn More
BankPurely, a division of Flushing Bank
0.15% 0.27x $1,000 Learn More
Bank of Montreal Harris
0.10% 0.18x $5,000 Learn 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 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; 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.

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Online CD Rates 2020 – 2-Year CDs