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Online CD Rates 2022 – 4-Year CDs

Four-Year Certificates of Deposit (CD) are not as popular as the three and five year terms which means the rates often aren’t as competitive. The best four year cd rates are often only marginally above the 3 year rates. Nevertheless, for those who want to lock in a rate for a longer period of time, 4 year cds are worth a look. Four Year CDs rates from online banks are often higher than the national average.

Highest Four-Year Online CD Rates - December 4, 2022

4 Year CD National Average: 0.71% ?

BANK APY? MIN?
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Early withdrawal penalty is 365 days interest.

| Oct 30, 2022

Closed the account after one year. These folks are killing lots of trees to send out cross-selling info on credit cards, home equities, personal loans. It seems like the savings is just to bring people in ... Read More

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 14, 2022

Refused to waive penalties when I asked to move my CD into another 5 year CD in their institution prior to maturity, rather than withdrawing and placing in another bank. It took me several weeks to get a r...

| Jul 1, 2022

Very easy opening process and wonderful staff.

Early Withdrawal Penalty is 365 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

Early withdrawal penalty is 15 months interest.

| 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!

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...

| 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

| 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...

| Nov 1, 2022

I never in my 80 years of life seen a company that treat their customers like shit and still expect them to come back. I have always paid my bills monthly without hesitation, in the past I have had so many... Read More

Early Withdrawal Penalty is the greater of: everything earned in the first 12 months or 30% of total dividends that would have been earned if held to maturity, but not to exceed total dividends paid.

| Nov 11, 2022

I have been with PenFed for a number of years, and have gotten good products. Employees have been helpful. However, beware of titling for accounts with trusts. You will not be able to distinguish betw...

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 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

Signature Federal Credit Union
Restrictions
3.45% $500 Learn 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

| 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

| Sep 22, 2022

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

| 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...

| 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

| Nov 20, 2022

I recently filed a complaint against VIO Bank's parent, Mid First Bank, with the Comptroller of Currency and the Dept. of Justice, Atty. General of Calif. The essence of my complaint was that VIO Bank did ... 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

| 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

Seattle Bank
2.48% $1,000 Learn More

Early Withdrawal Penalty is all interest earned

| Mar 30, 2021

These guys are the best local bank. Very responsive.

| 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 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

| Nov 9, 2020

Here's what you will need: To be a resident of New Jersey or select Eastern Pennsylvania counties (the zip code provided in your application will receive an error stating "Zip code is not valid for this ap...

Home Savings Bank
0.65% $5,000 Learn More
OneWest Bank, a division of First-Citizens Bank and Trust
0.55% $1,000 Learn More

Early Withdrawal Penalty is 180 days interest.

| 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

Ohio Catholic Fcu Federal Credit Union
Restrictions
0.30% $100,000 Learn 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

| Oct 29, 2022

Caveat Emptor! Like others, attracted to their competitive rates. Moved 125K into their MMA from my credit union. They have a system that somehow displays account information from other institutions to be ... Read More

| Apr 18, 2018

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

| Aug 15, 2019

I applied for a jumbo CD account over two weeks ago. They asked me for more documentation than my mortgage company did and then they did a hard credit pull. They advertise fast and simple they are simply n...

| 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...

| 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

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

Four Year CDs - Online Banks 2022

Four year CDs are a longer-term CD and offer a fixed rate for 4 years in return for a commitment to keep the money in the bank for this period of time. While savers can withdraw the money (termed "breaking the CD") high penalties make this undesirable. Generally, an individual should not invest in a four year CD unless they are comfortable parting with the money for this period of time.

Safety

Four year CDs from FDIC insured banks are insured up to FDIC limits (generally $250,000 per account holder per bank). If your deposit is over the FDIC limit then you may not receive the uninsured money in case of a bank failure. For this who remain within FDIC limits, the principal threat is inflation. The value of longer-term CDs are especially prone to be eaten away by inflation, especially if the CD is opened in a rising rate environment.

Interest

Four year CDs currently pay between .40-.60 percentage points more in interest than a one year CD. In general, CDs of this duration are best opened as part of a laddered CD portfolio or if the depositor thinks that rates will either stagnate or drop over the next couple of years. To get a sense of rate trends, please visit our BestCashCow rate analysis page.

ADVANTAGES AND DISADVANTAGES

Advantages

  • 4 year CDs provide a fixed rate for the term of the CD.
  • The rate is higher than a savings account or a 1 year CD to compensate for the longer term.
  • CDs opened online can be done from the comfort of a saver's living room.

Disadvantages

  • The saver's money is locked away for four years unless they want to break the CD and pay a penalty.
  • In a rising rate environment, inflation will reduce the value of the money in the CD over time.

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.