Michigan

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Credit Union CD Rates – 4-Year – Michigan

You are viewing rates from credit unions across Michigan





Below are four year CD Rates from credit unions in Michigan. 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.

MI - August 1, 2025

4 Year CD National Average : 0.82% ?

Credit Unions APY MIN MILES ?

Rate History: 4.35% → 3.90%

Rate History: 3.92% → 3.94% → 3.81% → 3.83% → 3.80%

Rate History: 3.50% → 3.55%

| May 12, 2016

19 what, years or months Read More

Rate History: 3.15% → 3.65% → 3.40% → 3.15% → 2.65%

Rate History: 2.34% → 2.41%

Rate History: 4.50% → 4.35% → 4.08% → 3.30% → 2.02%

| Dec 14, 2022

Agree with Jaben to stay away from docfcu. They don't appreciate loyal members and easily turn down any requests after a delayed response. I have closed my accounts and moved my funds to better institutio... Read More

1.55%

$100,000

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1.47%

$100,000

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1.46%

$10,000

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1.45%

$10,000

-

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1.45%

$10,000

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1.40%

$100,000

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1.40%

$100,000

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1.40%

$100,000

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1.36%

$100,000

-

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1.31%

$10,000

-

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1.30%

$100,000

-

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1.30%

$10,000

-

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1.30%

$10,000

-

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1.30%

$10,000

-

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1.26%

$10,000

-

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1.26%

$10,000

-

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1.26%

$10,000

-

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Our

Our Branch
Restrictions

1.26%

$10,000

-

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1.26%

$100,000

-

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1.26%

$10,000

-

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1.25%

$10,000

-

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1.25%

$10,000

-

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1.25%

$10,000

-

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1.25%

$10,000

-

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1.21%

$10,000

-

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1.21%

$10,000

-

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1.21%

$100,000

-

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1.20%

$100,000

-

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1.20%

$10,000

-

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1.20%

$10,000

-

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1.20%

$100,000

-

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1.20%

$10,000

-

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1.16%

$500

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1.16%

$100,000

-

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Cp

Cp Branch
Restrictions

1.16%

$10,000

-

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1.16%

$100,000

-

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1.16%

$10,000

-

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1.15%

$10,000

-

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1.15%

$10,000

-

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1.15%

$10,000

-

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1.15%

$100,000

-

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| Oct 18, 2021

Disappointed with a car loan I got there. I asked if there was a penalty for prepayment and the loan officer assured me there wasn’t. He didn’t tell me that I was getting a pre-calculated loan ( Rule o... Read More

1.11%

$10,000

-

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1.11%

$10,000

-

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1.11%

$100,000

-

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1.11%

$10,000

-

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1.11%

$100,000

-

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1.10%

$10,000

-

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1.10%

$10,000

-

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1.10%

$10,000

-

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1.10%

$100,000

-

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1.10%

$10,000

-

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| Jul 3, 2021

Question, what is the suffix I use when making a deposit? Is it 03? Read More

1.10%

$10,000

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1.10%

$100,000

-

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1.10%

$10,000

-

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| Aug 6, 2019

These people are crooks. They make up ways to steal your money through fees. They will short you on your interest. Beware! Read More

1.06%

$100,000

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1.05%

$100,000

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1.05%

$10,000

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1.05%

$10,000

-

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1.01%

$10,000

-

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1.01%

$10,000

-

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1.01%

$10,000

-

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1.01%

$10,000

-

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1.01%

$10,000

-

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1.00%

$10,000

-

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1.00%

$1,000

-

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1.00%

$10,000

-

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1.00%

$10,000

-

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1.00%

$10,000

-

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1.00%

$10,000

-

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1.00%

$10,000

-

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Aac

Aac Branch
Restrictions

1.00%

$10,000

-

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1.00%

$10,000

-

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1.00%

$10,000

-

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1.00%

$10,000

-

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0.96%

$10,000

-

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0.95%

$1,000

-

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0.95%

$100,000

-

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0.95%

$10,000

-

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0.95%

$10,000

-

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0.95%

$10,000

-

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0.95%

$10,000

-

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0.95%

$10,000

-

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0.95%

$10,000

-

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| Oct 18, 2021

Disappointed with a car loan I got there. I asked if there was a penalty for prepayment and the loan officer assured me there wasn’t. He didn’t tell me that I was getting a pre-calculated loan ( Rule o... Read More

0.95%

$10,000

-

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Directions


Restrictions

0.95%

$10,000

-

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0.90%

$10,000

-

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0.90%

$10,000

-

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0.90%

$10,000

-

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0.90%

$100,000

-

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0.90%

$100,000

-

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| Mar 3, 2021

I have had a few on line issues over the past 2 days one gets corrected to have another creep up. I have talked to Nicole lots of times over the past few years, Tiffany yesterday and Yvette today. All 3 ... Read More

0.90%

$10,000

-

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0.90%

$10,000

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0.85%

$100,000

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0.85%

$10,000

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0.85%

$10,000

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0.85%

$10,000

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0.85%

$10,000

-

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0.85%

$10,000

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0.85%

$10,000

-

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0.85%

$10,000

-

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0.85%

$10,000

-

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0.85%

$10,000

-

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| Jun 9, 2019

Vacation funds for Read More

Loc

Loc Branch
Restrictions

0.80%

$500

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0.80%

$10,000

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0.80%

$10,000

-

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0.80%

$10,000

-

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0.80%

$100,000

-

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0.80%

$10,000

-

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0.80%

$100,000

-

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0.75%

$10,000

-

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0.70%

$10,000

-

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0.70%

$10,000

-

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Tba

Tba Branch
Restrictions

0.65%

$10,000

-

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0.65%

$10,000

-

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| Nov 11, 2022

It would be great to hear back from someone regarding my bump-up rate currently available, BEFORE 18 days has passed. Still waiting. Read More

0.60%

$10,000

-

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0.55%

$10,000

-

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0.51%

$100,000

-

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0.50%

$1,000

-

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0.50%

$100,000

-

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0.46%

$10,000

-

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0.45%

$10,000

-

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| Dec 9, 2018

I have been a member of this credit union for more than 40 years. Over time it has had many changes but the worst one they did was to hire the man that is the manager of the Cranston Road Branch. He is c... Read More

| Jan 24, 2020

It is not available online. Simply call the main branch at 616.784.4822 and they will send one in the mail or over email. Cutoff time for domestic wire is 4pm and international is 11am. Flat $25 fee Read More

0.25%

$10,000

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0.11%

$10,000

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All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

Branches Info around zip 10116


Branch Street City State
AMERICAN 1
Michigan Services Michigan Services Branch
27650 Franklin Rd Southfield MI
COVANTAGE
Covantage Covantage Branch
1 Credit Union Way Crystal Falls MI
FIRST UNITED
First United Credit Union First United Credit Union Branch
3140 Ivanrest Ave SW Grandville MI
FIRST UNITED
First United Credit Union First United Credit Union Branch
3140 Ivanrest Ave SW Grandville MI
MICHIGAN STATE UNIVERSITY
Michigan State Unive Michigan State Unive Branch
3777 West Road East Lansing MI
GENISYS
Genisys Genisys Branch
2100 Executive Hills Blvd. Auburn Hills MI
GENISYS
Genisys Genisys Branch
2100 Executive Hills Blvd. Auburn Hills MI
MICHIGAN STATE UNIVERSITY
Michigan State Unive Michigan State Unive Branch
3777 West Road East Lansing MI
LAKE MICHIGAN
Lake Michigan Lake Michigan Branch
4027 Lake Drive SE Grand Rapids MI
UNIFY FINANCIAL
York Township York Township Branch
Toyota Technical Center Saline MI
UNIFY FINANCIAL
York Township York Township Branch
Toyota Technical Center Saline MI
UNIFY FINANCIAL
York Township York Township Branch
Toyota Technical Center Saline MI
UNITED
United United Branch
2807 South State Street Saint Joseph MI
FARMERS INSURANCE
Farmers Insurance Gr Farmers Insurance Gr Branch
5600 Beech Tree Lane Caledonia MI
WINGS FINANCIAL
Wings Financial Wings Financial Branch
Detroit Airport/McNamara Terminal Romulus MI
FARMERS INSURANCE
Farmers Insurance Gr Farmers Insurance Gr Branch
5600 Beech Tree Lane Caledonia MI
WINGS FINANCIAL
Wings Financial Wings Financial Branch
Detroit Airport/McNamara Terminal Romulus MI
WINGS FINANCIAL
Wings Financial Wings Financial Branch
Detroit Airport/McNamara Terminal Romulus MI
KENOWA COMMUNITY
Kenowa Community Kenowa Community Branch
1905 28th Street SW Wyoming MI
WINGS FINANCIAL
Wings Financial Wings Financial Branch
Detroit Airport/McNamara Terminal Romulus MI
EASTRISE
Bricktown Bricktown Branch
500 E Lafayette Blvd Detroit MI
WILDFIRE
Wildfire Wildfire Branch
6640 Bay Road Saginaw MI
WEST MICHIGAN
West Michigan West Michigan Branch
1319 Front Ave NW Grand Rapids MI
TEAM ONE
Team One Team One Branch
520 HAYDEN ST SAGINAW MI
HEALTH ADVANTAGE
Saginaw Medical Saginaw Medical Branch
4550 STATE ST SAGINAW MI
ELGA
Elga Elga Branch
2303 S. Center Road Burton MI
ZEAL
Co-op Services Co-op Services Branch
29550 Five Mile Rd. Livonia MI
FILER
Filer Filer Branch
1117 28th St. Manistee MI
COUNTRY HERITAGE
Country Heritage Country Heritage Branch
16580 Bakertown Road Buchanan MI
SAFE HARBOR
Safe Harbor Cu Safe Harbor Cu Branch
1200 E Tinkham Ave Ludington MI
WILDFIRE
Wildfire Wildfire Branch
6640 Bay Road Saginaw MI
ADVENTURE
Option 1 Option 1 Branch
630 32nd Street SE Grand Rapids MI
ZEAL
Co-op Services Co-op Services Branch
29550 Five Mile Rd. Livonia MI
FILER
Filer Filer Branch
1117 28th St. Manistee MI
PREFERRED
Grand Valley Co-op Grand Valley Co-op Branch
3767 Sparks Drive SE Grand Rapids MI
CIRCLE
Greater Niles Commun Greater Niles Commun Branch
507 E Main Street Niles MI
OUR
Our Our Branch
3070 Normandy Royal Oak MI
CREDIT UNION ADVANTAGE
Credit Union Advanta Credit Union Advanta Branch
22250 Providence Drive Southfield MI
BARAGA COUNTY
Baraga County Baraga County Branch
101 E Broad St Lanse MI
PENINSULA
Peninsula Peninsula Branch
301 North 30th Street Escanaba MI
COMMUNITY WEST
Kentwood Kentwood Branch
4045 60th ST SE Kentwood MI
RIVERTOWN COMMUNITY
Rivertown Community Rivertown Community Branch
3121 Macatawa Dr SW Grandville MI
ELGA
Elga Elga Branch
2303 S. Center Road Burton MI
DELTA COUNTY
Delta County Delta County Branch
2600 1st Ave S Escanaba MI
ALPENA-ALCONA AREA
Alpena-alcona Area Alpena-alcona Area Branch
1100 S Bagley Street Alpena MI
BLOOM
My Personal My Personal Branch
1414 Burton SW Wyoming MI
ST. FRANCIS X
St. Francis X St. Francis X Branch
2140 M 119 Petoskey MI
SAFE HARBOR
Safe Harbor Cu Safe Harbor Cu Branch
1200 E Tinkham Ave Ludington MI
SECURITY
Lapeer Office Lapeer Office Branch
1675 N Lapeer Rd Lapeer MI
LAFCU
St. Johns St. Johns Branch
2317 S US Highway 27 Saint Johns MI
CHRISTIAN FINANCIAL
Christian Financial Christian Financial Branch
18441 Utica Roseville MI
INTEGRA FIRST
Menominee County Menominee County Branch
W3803 US HIGHWAY 2/41 POWERS MI
4FRONT
Members Members Branch
3745 N. US 31 South Traverse City MI
CP
Cp Cp Branch
1100 Clinton Road Jackson MI
VIBE
Oakland County Oakland County Branch
1375 N. Oakland Blvd Waterford MI
CREDIT UNION ADVANTAGE
Credit Union Advanta Credit Union Advanta Branch
22250 Providence Drive Southfield MI
GREAT LAKES FIRST
Great Lakes First Great Lakes First Branch
2110 Third Ave N Escanaba MI
FINANCIAL PLUS
Fpcu Howell Branch Fpcu Howell Branch
5990 E Grand River Ave Howell MI
OMNI COMMUNITY
Omni Community Omni Community Branch
3141 Capital Ave SW Battle Creek MI
KELLOGG COMMUNITY
Dickman Dickman Branch
2925 W Dickman Rd Springfield MI
EMBERS
U.p. Catholic U.p. Catholic Branch
1001 W Baraga Avenue Marquette MI
BLOOM
My Personal My Personal Branch
1414 Burton SW Wyoming MI
UNIVERSITY OF MICHIGAN
University Of Michig University Of Michig Branch
333 E. William Ann Arbor MI
LENCO
Lenco Lenco Branch
615 W. Maple Ave. Adrian MI
CONSUMERS PROFESSIONAL
Consumers Profession Consumers Profession Branch
525 W. Willow Lansing MI
ST. FRANCIS X
St. Francis X St. Francis X Branch
2140 M 119 Petoskey MI
NORTHLAND AREA
Northland Area Northland Area Branch
4346 F 41 Oscoda MI
RIVER VALLEY
River Valley River Valley Branch
7130 E Fulton Ada MI
UNITED FINANCIAL
United Financial United Financial Branch
5658 DIXIE HWY SAGINAW MI
LAFCU
St. Johns St. Johns Branch
2317 S US Highway 27 Saint Johns MI
MICHIGAN EDUCATIONAL
Michigan Educational Michigan Educational Branch
9200 Haggerty Road Plymouth MI
ALLIANCE CATHOLIC
Michigan Catholic Michigan Catholic Branch
255 E Maple Rd Troy MI
CORNERSTONE COMMUNITY FINANCIAL
Somerset Branch Somerset Branch
3001 W Big Beaver Rd Ste 108 Troy MI
VIBE
Oakland County Oakland County Branch
1375 N. Oakland Blvd Waterford MI
MICHIGAN SCHOOLS AND GOVERNMENT
Michigan Schools And Michigan Schools And Branch
40400 Garfield Road Clinton Townshi MI
MICHIGAN FIRST
St. Clair Shores Kroger Branch St. Clair Shores Kroger Branch
22332 E 9 Mile Rd Saint Clair Shores MI
FRANKENMUTH
Frankenmuth Frankenmuth Branch
580 N Main St Frankenmuth MI
CASE
Case Case Branch
4316 S Pennsylvania Ave Lansing MI
CORNERSTONE COMMUNITY FINANCIAL
Somerset Branch Somerset Branch
3001 W Big Beaver Rd Ste 108 Troy MI
NORTH CENTRAL AREA
North Central Area North Central Area Branch
2665 S. Reserve Houghton Lake MI
WANIGAS
Wanigas Wanigas Branch
1837 Bagley Street Saginaw MI
ISABELLA COMMUNITY
Isabella Community Isabella Community Branch
2400 S Isabella RD MT Pleasant MI
FIRST GENERAL
First General First General Branch
589 E Ellis Muskegon MI
UNIVERSITY OF MICHIGAN
University Of Michig University Of Michig Branch
333 E. William Ann Arbor MI
CONSUMERS PROFESSIONAL
Consumers Profession Consumers Profession Branch
525 W. Willow Lansing MI
4FRONT
Members Members Branch
3745 N. US 31 South Traverse City MI
MEMBERS FIRST
Members First Credit Union -mt. Pleasant Bluegrass Members First Credit Union -mt. Pleasant Bluegrass Branch
4490 E Blue Grass Rd Mt Pleasant MI
GERBER
Gerber Gerber Branch
508 State Street Fremont MI
FRANKENMUTH
Frankenmuth Frankenmuth Branch
580 N Main St Frankenmuth MI
ROUTE 31
Muskegon Co Op Muskegon Co Op Branch
1051 Peck Street Muskegon MI
PORT CITY
Port City Port City Branch
460 West Laketon Avenue Muskegon MI
AAC
Aac Aac Branch
904 Broadway NW Grand Rapids MI
UNITED FINANCIAL
United Financial United Financial Branch
5658 DIXIE HWY SAGINAW MI
FAMILY FIRST
Family First Family First Branch
1011 North Michigan Avenue Saginaw MI
WEST MICHIGAN
West Michigan West Michigan Branch
1319 Front Ave NW Grand Rapids MI
INTOUCH
Intouch Intouch Branch
1075 W. Entrance Dr. Room 122 Auburn Hills MI
FAMILY FINANCIAL
Family Financial Family Financial Branch
525 W Barney Ave Muskegon MI
BEST FINANCIAL
Community Schools Community Schools Branch
1888 E Sherman Muskegon MI
COMMUNITY CHOICE
Community Choice Community Choice Branch
31155 Northwestern Hwy Farmington Hill MI
GR CONSUMERS
Gr Consumers Gr Consumers Branch
3975 Clay Ave SW Wyoming MI
INTANDEM
Kent County Kent County Branch
1619 Plainfield NE Grand Rapids MI
ASTERA
Auto Body Auto Body Branch
111 S Waverly Rd Lansing MI
KALSEE
Kalsee Kalsee Branch
2501 Millcork Kalamazoo MI
KELLOGG COMMUNITY
Dickman Dickman Branch
2925 W Dickman Rd Springfield MI
SOUTH CENTRAL
South Central South Central Branch
958 W. Monroe Jackson MI
TRAVERSE CATHOLIC
East Traverse Cathol East Traverse Cathol Branch
3797 Veterans Drive Traverse City MI
FOREST AREA
Forest Area Forest Area Branch
638 Boyd Street Fife Lake MI
SUNRISE FAMILY
Sunrise Family Sunrise Family Branch
404 S. Euclid Bay City MI
FINANCIALEDGE
Financialedge Commun Financialedge Commun Branch
1199 S Euclid Ave Bay City MI
HARBORLIGHT
Harborlight Harborlight Branch
2151 Cogswell Dr Whitehall MI
PARDA
Parda Parda Branch
2601 Cambridge Court, Suite 210 Auburn Hills MI
MICHIGAN FIRST
St. Clair Shores Kroger Branch St. Clair Shores Kroger Branch
22332 E 9 Mile Rd Saint Clair Shores MI
OMNI COMMUNITY
Omni Community Omni Community Branch
3141 Capital Ave SW Battle Creek MI
CREDIT UNION ONE
Credit Union One Credit Union One Branch
400 E. Nine Mile Road Ferndale MI
COMPASS
Rogue River Communit Rogue River Communit Branch
485 S. State St Sparta MI
FAMILY FINANCIAL
Family Financial Family Financial Branch
525 W Barney Ave Muskegon MI
UNITED BAY COMMUNITY
United Bay Community United Bay Community Branch
1309 N. Lincoln Avenue Bay City MI
COPOCO COMMUNITY
Copoco Community Copoco Community Branch
4265 Wilder Rd Bay City MI
HARBORLIGHT
Harborlight Harborlight Branch
2151 Cogswell Dr Whitehall MI
SERVICE 1
Service 1 Service 1 Branch
1075 E. Sherman Blvd Muskegon MI
MUSKEGON
Muskegon Governmenta Muskegon Governmenta Branch
65 W. LAKETON AVE MUSKEGON MI
LAKE HURON
Lake Huron Lake Huron Branch
1540 Tittabawassee Saginaw MI
FIRST AREA
First Area First Area Branch
193 Campbell Ln Saginaw MI
TLC COMMUNITY
T L C Community T L C Community Branch
3030 S. Adrian Hwy Adrian MI
LOC
Loc Loc Branch
22981 Farmington Rd Farmington MI
HONOR
Berrien Teachers Berrien Teachers Branch
2920 Lakeveiw Ave St Joseph MI
FINANCIALEDGE
Financialedge Commun Financialedge Commun Branch
1199 S Euclid Ave Bay City MI
LAKE TRUST
Lake Trust Lake Trust Branch
501 S Capitol Ave Lansing MI
ARBOR FINANCIAL
Plainwell Office Plainwell Office Branch
390 OAKS XING PLAINWELL MI
IGNITE
United Educational United Educational Branch
115 Riverside Dr Battle Creek MI
MARSHALL COMMUNITY
Marshall Community Marshall Community Branch
839 W Green St Marshall MI
CREDIT UNION ONE
Credit Union One Credit Union One Branch
400 E. Nine Mile Road Ferndale MI
MICHIGAN ONE COMMUNITY
Michigan One Communi Michigan One Communi Branch
510 S Dexter St Ionia MI
MARSHALL COMMUNITY
Marshall Community Marshall Community Branch
839 W Green St Marshall MI
TBA
Tba Tba Branch
3033 Cedar Valley Drive Traverse City MI
CREDIT UNION ONE
Credit Union One Credit Union One Branch
400 E. Nine Mile Road Ferndale MI
ARBOR FINANCIAL
Plainwell Office Plainwell Office Branch
390 OAKS XING PLAINWELL MI
PUBLIC SERVICE
Public Service Public Service Branch
7665 Merriman Rd Romulus MI
AEROQUIP
Aeroquip Aeroquip Branch
901 Plymouth St Jackson MI
PEOPLE DRIVEN
Peoples Trust Peoples Trust Branch
24333 Lahser Southfield MI
PUBLIC SERVICE
Public Service Public Service Branch
7665 Merriman Rd Romulus MI
PEOPLE DRIVEN
Peoples Trust Peoples Trust Branch
24333 Lahser Southfield MI
ADVIA
E & A E & A Branch
500 10th St Port Huron MI
MEIJER
Meijer Meijer Branch
2410 Gaynor Ave NW Grand Rapids MI
LAKE SUPERIOR
Lake Superior Lake Superior Branch
801 River Street Ontonagon MI
COMMUNITY FINANCIAL
Community Financial Novi Community Financial Novi Branch
23890 NOVI RD NOVI MI


BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

PRODUCT INFORMATION

Credit Union Certificates of Deposit 2025

Credit union certificates of deposit (“CDs”, also commonly called “time deposits” at credit unions) are contract-based and time-based savings vehicles that are offered by credit unions. In return for agreeing to keep your money tied up with the credit union for a given time period, you earn a fixed rate or return that cannot change over the course of that period. Should you need your money before the expiration of the contractual period, the penalties for early withdrawal can be severe. Not all credit unions even offer early withdrawal from CDs; many that do offer it maintain the right to deny it in their fine print. It therefore is important to fully understand the terms of any time-based deposit that you enter with a credit union. Read this article for further detail on early withdrawal penalties.

Many Americans enjoy performing their banking transactions with credit unions, citing better rates, non-profit status (owned by its depositors), more helpful employees, and a commitment to the community that is above the level offered by local banks. You will find a map with all credit unions that are close to you here. It is important to note that some credit unions have limited fields of membership, although others are more open ended. Under any circumstance, you must meet the membership requirements in order to become a member and open a CD or time deposit.

Those who are willing to tie up their money for one year will often get a slight premium over the best available savings rates. People who work with credit unions may find that they offer better rates on CDs or time deposits than local banks and online banks. You however should check the local bank rates where you live here and the online rates here.

To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.

NCUA Insurance

Most, but not all, credit unions listed on BestCashCow are insured by the National Credit Union Administration (NCUA). You should confirm that the credit union that you are working with is NCUA-insured by visiting that institution’s BestCashCow page (NCUA coverage is detailed on the overview tab). The NCUA insures each named individual's deposits to $250,000 for all accounts at the credit union within ownership class. The rules are very similar, but not identical, to those for FDIC insurance. You should always stay within NCUA insurance limits.

BestCashCow strongly recommends that you deposit money only in NCUA insured credit unions and that you stay within insured limits. If you are considering depositing over $250,000 at a single NCUA-insured credit union across products (share certificates, time deposits, etc.) or across types of ownership (individual, joint, etc.) you should use the NCUA’s Share Insurance Toolkit in order to be sure that you are not exceeding coverage limits.

FREQUENTLY ASKED QUESTIONS ABOUT CREDIT UNIONS

Is my money any less safe at a credit union?

As long as your credit union is NCUA insured and you stay within the NCUA limits, As long as your credit union is NCUA insured and you stay within the NCUA limits, your money is no less safe than it would be in an FDIC-insured bank.

Is there any difference between a time deposit offered by a credit union and a CD account offered by a bank?

The difference is mainly one of terminology. But, you should always completely understand the terms of a time deposit or CD before you enter it, paying careful attention to the early withdrawal penalties. A reasonable early withdrawal penalty for a 1-year CD or time deposit is 3 months, and a reasonable early withdrawal penalty for a longer term CD is 6 months.

Does the small amount of interest gained on a time deposit make sense given the fact that I am losing access to my capital (liquidity)?

This is a decision that depends on your own specific circumstances, your needs for cash, and other investments that you may wish to pursue over the period of your time deposit or CD. The premium in a one-year CD is very small, with the premium of longer-term CDs being a little wider. A small difference in compounding interest can make a large difference over long period of time. You may wish to familiarize yourself with our Savings Booster Calculator  in order to understand the importance of compounding interest at higher rates on your money over time.

SAVINGS & CD CALCULATOR

Find out how much extra money you can earn by moving your bank money into an account that pays more.

Use or Change these Amounts And Rates