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Online CD Rates – 2 Year 2016

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 below.

December 9, 2016

2 Year CD National Average: 0.58% ?

APY Vs. Nat'l Av. MIN
EverBank 1.52% 2.61x $1,500 Reviews
Pentagon Federal Credit Union 1.51% 2.59x $1,000 Reviews
Virtualbank 1.51% 2.59x $10,000 Reviews
Synchrony Bank 1.45% 2.49x $2,000 Reviews
Capital One 360 1.45% 2.49x $10,000 Reviews
BAC Florida 1.45% 2.49x $100,000 Reviews
BAC Florida 1.41% 2.42x $1,500 Reviews
Navy Federal Credit Union 1.35% 2.32x $0 Reviews
Barclays Bank Delaware 1.35% 2.32x $0 Reviews (1)
E-Loan 1.35% 2.32x $10,000 Reviews
CIT Bank 1.35% 2.32x $100,000 Reviews
Ally Bank 1.30% 2.23x $0 Reviews
Bank5 Connect 1.30% 2.23x $500 Reviews
CIT Bank 1.30% 2.23x $1,000 Reviews
Discover Bank 1.30% 2.23x $2,500 Reviews
Colorado Federal Savings Bank 1.30% 2.23x $5,000
Reviews (1)
Goldman 1.25% 2.14x $500 Reviews
Nationwide Bank 1.25% 2.14x $100,000 Reviews
Bank of Internet 1.20% 2.06x $1,000 Reviews
OneWest Bank 1.10% 1.89x $1,000 Reviews
American Express Bank, FSB 1.00% 1.72x $0 Reviews
AirBanking 1.00% 1.72x $500 Reviews
CNB Bank Direct 0.86% 1.48x $1,000 Reviews
USAA Federal Savings Bank 0.86% 1.48x $175,000 Reviews
ableBanking 0.70% 1.20x $1,000 Reviews
New Dominion Direct 0.65% 1.11x $1,000 Reviews

PRODUCT INFORMATION

Two Year CDs - Online Banks 2016

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?

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, you 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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