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Below are 5 year CD Rates from banks that are located in Virginia. Five Year Certificates of Deposit (CD) are generally the longest term CD that most banks will offer. They tend to offer the highest rates but require the longest commitment. Five year CDs are especially popular in a declining interest rate environment as depositors can lock money in at the highest rate possible for the longest period of time. They are also popular with depositors who are willing to lock up money for five years in return for extra yield.
VA - June 27, 2017
5 Year CD National Average : 1.22% ?
| Bank | APY | MIN | MILES ? | |
|---|---|---|---|---|
| 2.11% | $7,500 | - | ||
| 2.02% | $10,000 | - | ||
| 2.00% | $10,000 | - | ||
| 1.90% | $500 | - | ||
| 1.90% | $1,000 | - | ||
| 1.85% | $1,000 | - | ||
| 1.80% | $1,000 | - | ||
| 1.76% | $50,000 | - | ||
| 1.75% | $1,000 | - | ||
| 1.75% | $1,000 | - | ||
| 1.75% | $500 | - | ||
| 1.75% | $500 | - | ||
| 1.75% | $50 | - | ||
| 1.72% | $500 | - | ||
| 1.71% | $1,000 | - | ||
| 1.71% | $10,000 | - | ||
| 1.70% | $500 | - | ||
| 1.60% | $1,000 | - | ||
| 1.60% | $1,000 | - | ||
| 1.56% | $500 | - | ||
| 1.56% | $500 | - | ||
| 1.56% | $1,000 | - | ||
| 1.55% | $500 | - | ||
| 1.53% | $1,000 | - | ||
| 1.51% | $500 | - | ||
| 1.51% | $1 | - | ||
| 1.51% | $500 | - | ||
| 1.51% | $500 | - | ||
| 1.51% | $500 | - | ||
| 1.51% | $1,000 | - | ||
| 1.51% | $500 | - | ||
| 1.51% | $500 | - | ||
| 1.50% | $500 | - | ||
| 1.50% | $500 | - | ||
| 1.46% | $500 | - | ||
| 1.45% | $1,000 | - | ||
| 1.45% | $500 | - | ||
| 1.40% | $500 | - | ||
| 1.40% | $500 | - | ||
| 1.40% | $100,000 | - | ||
| 1.36% | $500 | - | ||
| 1.35% | $500 | - | ||
| 1.35% | $1,000 | - | ||
| 1.35% | $500 | - | ||
| 1.35% | $1,000 | - | ||
| 1.31% | $250 | - | ||
| 1.31% | $500 | - | ||
| 1.30% | $500 | - | ||
| 1.26% | $500 | - | ||
| 1.26% | $500 | - | ||
| 1.25% | $1,000 | - | ||
| 1.25% | $1,000 | - | ||
| 1.25% | $500 | - | ||
| 1.24% | $1,000 | - | ||
| 1.21% | $500 | - | ||
| 1.20% | $100 | - | ||
| 1.20% | $500 | - | ||
| 1.20% | $1 | - | ||
| 1.20% | $1,000 | - | ||
| 1.16% | $500 | - | ||
| 1.15% | $500 | - | ||
| 1.10% | $500 | - | ||
| 1.10% | $10,000 | - | ||
| 1.05% | $100,000 | - | ||
| 1.01% | $2,500 | - | ||
| 1.00% | $500 | - | ||
| 1.00% | $500 | - | ||
| 1.00% | $1,000 | - | ||
| 1.00% | $500 | - | ||
| 1.00% | $500 | - | ||
| 1.00% | $500 | - | ||
| 1.00% | $1,000 | - | ||
| 1.00% | $1,000 | - | ||
| 1.00% | $500 | - | ||
| 1.00% | $1,000 | - | ||
| 1.00% | $500 | - | ||
| 0.95% | $500 | - | ||
| 0.95% | $1,000 | - | ||
| 0.90% | $10,000 | - | ||
| 0.90% | $100,000 | - | ||
| 0.90% | $1,000 | - | ||
| 0.90% | $1,000 | - | ||
| 0.90% | $500 | - | ||
| 0.85% | $500 | - | ||
| 0.75% | $1,000 | - | ||
| 0.75% | $500 | - | ||
| 0.70% | $10,000 | - | ||
| 0.70% | $100,000 | - | ||
| 0.65% | $10,000 | - | ||
| 0.60% | $1,000 | - | ||
| 0.60% | $5,000 | - | ||
| 0.60% | $1,000 | - | ||
| 0.59% | $500 | - | ||
| 0.55% | $1,000 | - | ||
| 0.55% | $10,000 | - | ||
| 0.50% | $500 | - | ||
| 0.50% | $10,000 | - | ||
| 0.50% | $10,000 | - | ||
| 0.40% | $10,000 | - | ||
| 0.40% | $10,000 | - | ||
| 0.40% | $50,000 | - | ||
| 0.35% | $10,000 | - | ||
| 0.35% | $10,000 | - | ||
| 0.35% | $10,000 | - | ||
| 0.30% | $1,000 | - | ||
| 0.25% | $100,000 | - | ||
| 0.25% | $500 | - | ||
| 0.15% | $10,000 | - | ||
| 0.15% | $10,000 | - |
BestCashCow strives to maintain the most accurate rates. If you find a rate that is not accurate, please let us know by commenting below so that we can update it. Thank you for your help.
Five-year CDs are the big kahuna of the CD world. While banks may offer six-year, seven-year, or even 10-year CDs, the five-year is the longest of the most commonly offered terms. The 5-year CD is therefore often the highest offer at your local bank. Therefore, the temptation for those looking for yield is to open one, deposit money, and forget about it for five years. This could be a mistake. In rising rate environments a five-year CD may not be a good investment.
Like every other CD term, five year CDs from FDIC insured banks are protected 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.
The principle threat to a a five year CD is inflation. If the CD is opened in a low rate environment, and rates and inflation subsequently rise, then inflation will erode the value of the certificate of deposit over its five years. For example, if a depositor opened a five year CD in year 1 with a yield of 2.05% APY and inflation at 1.5%, then the real return is .55 percentage points. But if inflation rises the next year to 2.5% and stays there for the next four years, then the CD in real terms is losing money every year: 2.05% - 2.5% = -.45%.
While it is impossible for anyone to predict too far into the future, savers should be cognizant of the economic environment before locking up money for a five year time-period. Our rate analysis page provides some insight into where we think rates will go.
On the other hand, if rates are falling and will continue to do so for some time due to an economic recession then it makes sense to lock in a higher rate with a five year CD. Savers who opened five year CDs in 2008 immediately after the financial crisis were able to lock in rates in the 6% range, a great move considering two years later a five year CD paid below 3%.
Five-year CDs currently pay about 1.00% 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.
Opening a five year CD in a branch is relatively easy and similar to every other CD term. Most banks require the customer be a resident of the United States and most branch-based banks ask that the account be opened in the bank. Funding can be performed by transferring money that is already located at that bank or by check or ACH transfer from another bank. The CD can be opened that day and the rate locked.
With longer term CDs, savers should make sure they put a record of the CD in a safe place and that if they move, they forward their new address to the bank. In cases where the bank cannot find the CD holder, the bank may hand the funds over to a state authority as a lost deposit, and it will require onerous paperwork to reclaim the money.
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.
Find out how much extra money you can earn by moving your bank money into an account that pays more.
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Last Update on June 26, 2017
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Ro
June 12, 2017
I am surprised that you do not list the 5 year CD rate available at Melrose Credit Union.
At 2.42% it is higher than the rates listed!!!
Is this review helpful? Yes:2 / No:0
Ken
June 09, 2015
The 5 year rate for zip code 76102 shows Compass Bank offering rates of 2.00% and 2.20%. The local Compass Bank however offers 0.50% APY for 5 year money. Can you elaborate on where these rates are pulled from?
Is this review helpful? Yes:7 / No:0
debra
May 19, 2015
synovus says they do not have the rates advertised they say these rates have ended May 19 2015 10 days ago
Is this review helpful? Yes:3 / No:0
Sally
November 19, 2014
If you are doing a TRUST...at Bridgewater Bank...be prepared to haul in all 50-100 pages of your original so they can copy it.
Is this review helpful? Yes:2 / No:0
mike
October 16, 2014
Bridgewater bank 5 year cd rate is 2.1% now.
Is this review helpful? Yes:5 / No:2
Charles Voytek
September 01, 2014
Rate Bank United Miami Florida 5years please
Is this review helpful? Yes:2 / No:0
Mike
July 23, 2014
Bank of the west does not offer a rate of 2% on 5 year term
Is this review helpful? Yes:3 / No:1
Sol
May 14, 2014
@Frank
Hi Frank, I called and First Choice Bank in NJ is offering a 2.5% APY CD with a platinum checking account. The checking account has an average daily balance requirement of $500. You can see if a First Choice Bank is near your location here:
http://www.bestcashcow.com/banks/first-choice-bank-branches-58471
They have branches in the Philadelphia area. Hope that helps.
Sol
Is this review helpful? Yes:3 / No:1
Frank Rutolo
May 07, 2014
First Choice Bank does not offer a 2.50% 5yr cd.
I called on 5/6/2014 and was told the rate is 2.05%
for 5 yrs.
Is this review helpful? Yes:5 / No:6
Bea
November 26, 2013
Please note that First Federal has just a one star rating on Bankrate. We have business with them and some months ago were sent a letter that another bank was supposed to take them over. It seems to have fallen through and I am concerned about First Fed's future. As soon as our CDs mature with them, I hope to find a more financially suitable bank or credit union to switch to. I don't like to do business with one star banks even if they are FDIC insured. When I first got with them they seemed to have much higher ratings.
Is this review helpful? Yes:5 / No:2
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