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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 - January 16, 2022

2 Year CD National Average: 0.53% ?

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BANK APY? MIN?

| 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

| Nov 13, 2021

Rate is not unattractive in this environment but I will wait until January or February and see where things are then.

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

| Apr 12, 2021

Frustrating. The initial application form is a breeze. Then the problems start. Many hoops to jump through.

| 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

| Jul 15, 2021

Marcus is the very best online banking experience that I have ever had. 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...

| 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...

| 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 the greater of all credited interest or 90 days interest.

| Apr 9, 2021

Unprofessional in every way imaginable.

| Nov 8, 2021

As of 11/03/2021 online savings rate increased to 0.50%

| 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

| Sep 14, 2020

two thumbs up Read More

| 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

| Dec 6, 2021

Works fine, but I wish interest were credited monthly and not quarterly.

| 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

| Nov 6, 2021

Website agonizingly SLOOOOOWWW. Only 3 linked external accounts allowed.

| 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

| 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

| Jul 16, 2021

David

| 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

| 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

| Jul 16, 2021

David

| Dec 13, 2019

yes good

| 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

| 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

| Jun 25, 2020

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

| 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

| 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

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

| 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

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

| 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

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

| 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

| 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...

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

| Jul 3, 2019

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

| 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

$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

| 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

| 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...

| Dec 8, 2021

Marcus (GS) and Barclay high yield savings both 0.50%. Read More

| 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

Ohio Catholic
Restrictions
0.20% $100,000 Learn More
Ohio Catholic
Restrictions
0.15% $500 Learn More

| 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

| Nov 18, 2017

This is a decent account until you need to withdraw something and then it is hell on wheels. Read More

| 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.

| Apr 18, 2018

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

| Oct 28, 2021

The website is easy to use. The savings rates for an online bank are terrible. Read More

| Jul 28, 2020

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

| 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

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.