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Minnesota CD Rates

Below are the best one year CD Rates from banks in Minnesota. One year CDs are usually the most popular term and offer a decent yield without having to lock-up money for an extended period of time. One year CD Rates are generally comparable to or a little higher than their savings and money market counterparts.

MN - May 1, 2016

1 Year CD National Average : 0.38% ?

Bank APY MIN MILES ?
Beal Bank Usa 1.01% $1,000 -
Charter Bank Eau Claire 1.00% $1,000 -
Visionbank 1.00% $1 -
Riverland Bank 1.00% $1,000 -
Minnesota First Credit And Savings, Incorporated 0.85% $500 -
Equity Bank 0.85% $500 -
Northview Bank 0.85% $96,000 -
Foresight Bank 0.85% $100,000 -
Venture Bank 0.80% $10,000 -
Ultima Bank Minnesota 0.80% $1,000 -
Bankvista 0.80% $1,000 -
Northview Bank 0.75% $1,000 -
Cortrust Bank National Association 0.75% $500 -
Signature Bank 0.75% $2,500 -
Foresight Bank 0.75% $10,000 -
Eitzen State Bank 0.75% $10,000 -
Lake City Federal Bank 0.75% $1,000 -
First State Bank Of Kiester 0.70% $100,000 -
The Wanda State Bank 0.70% $500 -
North American Banking Company 0.66% $100,000 -
Citizens State Bank Of Hayfield 0.65% $20,000 -
First State Bank Of Sauk Centre 0.65% $25,000 -
Ultima Bank Minnesota 0.65% $1,000 -
Farmers And Merchants State Bank Of Alpha 0.65% $500 -
First Western Bank & Trust 0.65% $500 -
Minnesota First Credit And Savings, Incorporated 0.65% $500 -
Grand Timber Bank 0.64% $75,000 -
North American Banking Company 0.62% $10,000 -
Bank Of Zumbrota 0.61% $100,000 -
American State Bank Of Grygla 0.60% $500 -
Park State Bank 0.60% $25,000 -
The First National Bank At St. James 0.60% $500 -
Citizens Community Federal National Association 0.60% $2,000 -
First Financial Bank In Winnebago 0.60% $500 -
Minnesota Bank & Trust 0.60% $1,000 -
First State Bank Of Wabasha 0.60% $50,000 -
Integrity Bank Plus 0.60% $500 -
The First National Bank Of Moose Lake 0.60% $1,000 -
Alliance Bank 0.60% $2,500 -
Choice Financial Group 0.60% $1,000 -
Peoples State Bank Of Plainview 0.60% $10,000 -
First State Bank Southwest 0.60% $95,000 -
The First National Bank Of Bemidji 0.60% $25,000 -
Security Bank & Trust Company 0.57% $50,000 -
The First National Bank Of Gilbert 0.55% $100,000 -
Stearns Bank Holdingford National Association 0.55% $2,500 -
Bank Of Maple Plain 0.55% $1,000 -
Wadena State Bank 0.55% $10,000 -
Midcountry Bank 0.55% $1,000 -
The First National Bank Of Le Center 0.55% $2,500 -
Farmers State Bank Of Underwood 0.55% $1,000 -
State Bank Of Easton 0.55% $10,000 -
Border State Bank 0.55% $50,000 -
Midwest Bank 0.55% $25,000 -
Security Bank & Trust Company 0.55% $10,000 -
Citizens State Bank Of Roseau 0.55% $1,000 -
First State Bank Of Sauk Centre 0.55% $10,000 -
American National Bank Of Minnesota 0.55% $5,000 -
Stearns Bank National Association 0.55% $2,500 -
Security Bank Usa 0.55% $25,000 -
Viking Savings Bank 0.55% $500 -
Altura State Bank 0.55% $1,000 -
Stearns Bank Upsala National Association 0.55% $2,500 -
Community Bank Mankato 0.55% $1,000 -
Minnesota National Bank 0.54% $75,000 -
Cornerstone State Bank 0.50% $75,000 -
Randall State Bank 0.50% $1 -
Avon State Bank 0.50% $100,000 -
First Minnesota Bank 0.50% $10,000 -
Farmers And Merchants State Bank Of Blooming Prairie 0.50% $500 -
Franklin State Bank 0.50% $1,000 -
Vergas State Bank 0.50% $500 -
The Citizens National Bank Of Park Rapids 0.50% $500 -
First Citizens National Bank 0.50% $50,000 -
Farmers & Merchants State Bank Of New York Mills, Incorporated 0.50% $500 -
Republic Bank, Inc. 0.50% $10,000 -
Park State Bank 0.50% $2,500 -
F & M Bank Minnesota 0.50% $900 -
Pioneer Bank 0.50% $500 -
Adrian State Bank 0.50% $75,000 -
Welcome State Bank 0.50% $250 -
Border State Bank 0.50% $2,500 -
Farmers Trust And Savings Bank 0.50% $25,000 -
Glenwood State Bank (incorporated) 0.50% $50,000 -
United Farmers State Bank 0.50% $1,000 -
Reliance Bank 0.50% $1,000 -
Vantage Bank 0.50% $500 -
American National Bank 0.50% $100,000 -
Janesville State Bank 0.50% $25,000 -
Granite Falls Bank 0.50% $1,000 -
The First National Bank Of Bemidji 0.50% $10,000 -
The First National Bank Of Walker 0.50% $100 -
Minnesota National Bank 0.49% $75,000 -
State Bank Of New Richland 0.46% $50,000 -
Citizens Bank Minnesota 0.45% $500 -
First State Bank Of Ashby 0.45% $500 -
First State Bank Of Wabasha 0.45% $10,000 -
Unity Bank North 0.45% $25,000 -
Alliance Bank 0.45% $500 -
Woodlands National Bank 0.45% $10,000 -
Red River State Bank 0.45% $1,000 -
Farmers State Bank Of Watkins 0.45% $5,000 -
Avon State Bank 0.45% $1,000 -
State Bank Of Lake Park 0.45% $500 -
Farmers & Merchants Savings Bank 0.45% $50,000 -
Liberty Savings Bank Fsb 0.45% $500 -
Cornerstone State Bank 0.45% $500 -
Harvest Bank 0.45% $25,000 -
First Community Bank 0.45% $25,000 -
State Bank Of Richmond 0.45% $5,000 -
Think Mutual Bank 0.45% $50,000 -
The First National Bank In Wadena 0.45% $1,000 -
The Northern State Bank Of Gonvick 0.45% $25,000 -
Lakeview Bank 0.45% $500 -
Pine River State Bank 0.45% $1,000 -
Northern State Bank Of Thief River Falls 0.45% $100,000 -
Flagship Bank Minnesota 0.45% $500 -
Sherburne State Bank 0.45% $50,000 -
Premier Bank 0.45% $1,000 -
Marshall County State Bank 0.45% $25,000 -
United Prairie Bank 0.45% $500 -
Sentry Bank 0.45% $10,000 -
The First National Bank Of Gilbert 0.45% $10,000 -
State Bank Of Belle Plaine 0.45% $1,000 -
Bonanza Valley State Bank 0.45% $500 -
Citizens State Bank Of Hayfield 0.45% $500 -
First Bank Blue Earth 0.45% $1,000 -
Kodabank 0.45% $100,000 -
First Farmers & Merchants Bank 0.45% $25,000 -
Security State Bank 0.45% $500 -
Farmers And Merchants State Bank Of Pierz 0.45% $2,500 -
Grand Timber Bank 0.44% $500 -
Bank Of Zumbrota 0.41% $500 -
Mid-central Federal Savings Bank 0.40% $500 -
Sherburne State Bank 0.40% $10,000 -
American Bank Of The North 0.40% $50,000 -
First State Bank Of Okabena (incorporated) 0.40% $2,500 -
First State Bank Of Swanville 0.40% $1,000 -
Currie State Bank 0.40% $500 -
The First National Bank Of Bagley 0.40% $1,000 -
Falcon National Bank 0.40% $10,000 -
Produce State Bank 0.40% $1,000 -
Northern State Bank Of Thief River Falls 0.40% $10,000 -
Bridgewater Bank 0.40% $10,000 -
Janesville State Bank 0.40% $500 -
Hometown Community Bank 0.40% $500 -
Lowry State Bank 0.40% $500 -
Security State Bank Of Kenyon 0.40% $10,000 -
Community Bank Owatonna 0.40% $1,000 -
Citizens State Bank Norwood Young America 0.40% $500 -
First Southeast Bank 0.40% $500 -
Stonebridge Bank 0.40% $500 -
First State Bank Of Clearbrook 0.40% $100 -
Minnstar Bank National Association 0.40% $500 -
Think Mutual Bank 0.40% $250 -
Security Bank Usa 0.40% $10,000 -
Provincial Bank 0.40% $1,000 -
The Northern State Bank Of Gonvick 0.40% $10,000 -
Glenwood State Bank (incorporated) 0.40% $10,000 -
Harvest Bank 0.40% $1,000 -
The First National Bank Of Osakis 0.40% $10,000 -
The First National Bank Of Milaca 0.40% $500 -
Citizens State Bank Of Glenville 0.40% $1,000 -
Eagle Valley Bank, National Association 0.40% $100,000 -
Olmsted National Bank 0.40% $2,500 -
Farmers State Bank Of Hoffman 0.40% $1,000 -
Marshall County State Bank 0.40% $10,000 -
Star Bank 0.40% $500 -
State Bank Of Wheaton 0.40% $10,000 -
Exchange State Bank 0.40% $500 -
Citizens State Bank Of Waverly, Inc. 0.40% $1,000 -
Granite Community Bank 0.40% $10,000 -
Midwest Bank 0.40% $1,000 -
North American State Bank 0.40% $50,000 -
Minnesota National Bank 0.40% $10,000 -
Manufacturers Bank & Trust Company 0.40% $100,000 -
Blackridgebank 0.40% $500 -
Neighborhood National Bank 0.40% $1,000 -
Dacotah Bank 0.40% $10,000 -
Farmers Trust And Savings Bank 0.40% $1,000 -
State Bank Of Danvers 0.40% $25,000 -
Minnesota Lakes Bank 0.39% $75,000 -
State Bank Of Hamburg 0.38% $1,000 -
Profinium, Inc. 0.37% $5,000 -
First Security Bank 0.35% $500 -
Prime Security Bank 0.35% $1,000 -
Unity Bank North 0.35% $10,000 -
American Bank Of The North 0.35% $10,000 -
Citizens State Bank - Midwest 0.35% $100,000 -
First Bank & Trust 0.35% $100,000 -
First Independent Bank 0.35% $500 -
The Gary State Bank 0.35% $100 -
Security Bank Minnesota 0.35% $25,000 -
Farmers And Merchants State Bank Of Appleton 0.35% $300 -
Red River State Bank 0.35% $1,000 -
First Farmers & Merchants National Bank 0.35% $1,000 -
Western National Bank 0.35% $100,000 -
Blackridgebank 0.35% $500 -
Minnwest Bank 0.35% $10,000 -
Community Development Bank, Fsb 0.35% $100 -
First State Bank Of Wyoming 0.35% $1,000 -
Arlington State Bank 0.35% $500 -
Kodabank 0.35% $1,000 -
First State Bank Of Le Center 0.35% $1,000 -
First State Bank Of Kiester 0.35% $2,500 -
First State Bank Southwest 0.35% $10,000 -
First Citizens National Bank 0.35% $5,000 -
Landmark Community Bank, National Association 0.35% $25,000 -
First National Bank 0.35% $1,000 -
Financial Security Bank 0.35% $50,000 -
Farmers State Bank Of Hamel 0.35% $2,500 -
Eagle Community Bank 0.35% $1,000 -
Security State Bank Of Aitkin 0.35% $500 -
Kensington Bank 0.35% $1,000 -
Eagle Bank 0.35% $25,000 -
Progrowth Bank 0.35% $90,000 -
Security State Bank Of Wanamingo 0.35% $500 -
Coulee Bank 0.35% $10,000 -
Maple Bank 0.35% $10,000 -
Farmers State Bank Of Trimont 0.35% $5,000 -
State Bank Of Danvers 0.35% $500 -
State Bank Of Chandler 0.35% $100 -
State Bank Of Cold Spring 0.35% $10,000 -
Unity Bank 0.35% $25,000 -
United Prairie Bank 0.35% $500 -
Great Southern Bank 0.35% $250 -
Peoples Bank 0.34% $7,500 -
Paragon Bank 0.33% $1,000 -
Profinium, Inc. 0.31% $1 -
Security Bank Minnesota 0.30% $10,000 -
First National Bank In Mahnomen 0.30% $10,000 -
Adrian State Bank 0.30% $500 -
Farmers State Bank Of Darwin 0.30% $1,000 -
Citizens State Bank - Midwest 0.30% $500 -
Farmers And Merchants State Bank Of Springfield 0.30% $500 -
Pine Country Bank 0.30% $10,000 -
Farmers State Bank Of Hartland 0.30% $500 -
Fidelity Bank 0.30% $25,000 -
Midwestone Bank 0.30% $10,000 -
Farmers & Merchants Savings Bank 0.30% $10,000 -
The Lake Bank 0.30% $5,000 -
Alerus Financial, National Association 0.30% $75,000 -
F & M Community Bank, National Association 0.30% $25,000 -
First Farmers & Merchants Bank 0.30% $7,500 -
First Community Bank 0.30% $5,000 -
First State Bank Of Fountain 0.30% $300 -
State Bank Of Lismore 0.30% $500 -
Root River State Bank 0.30% $300 -
Northwoods Bank Of Minnesota 0.30% $1,000 -
State Bank In Eden Valley 0.30% $1,500 -
Frandsen Bank & Trust 0.30% $50,000 -
State Bank Of Fairmont 0.30% $500 -
Financial Security Bank 0.30% $10,000 -
First Bank & Trust 0.30% $100 -
United Community Bank 0.30% $100 -
American Heritage National Bank 0.30% $5,000 -
First National Bank 0.30% $1,000 -
The First State Bank Of Red Wing 0.30% $500 -
Western National Bank 0.30% $10,000 -
North Shore Bank Of Commerce 0.30% $2,500 -
The First National Bank Of Fairfax 0.30% $500 -
Home State Bank 0.30% $2,500 -
Citizens Alliance Bank 0.30% $500 -
Lake Community Bank 0.30% $1,000 -
National Bank Of Commerce 0.30% $10,000 -
Landmark Community Bank, National Association 0.30% $1,000 -
The First National Bank Of Cokato 0.30% $1,000 -
Eagle Bank 0.30% $10,000 -
State Bank Of Taunton 0.30% $1,000 -
Annandale State Bank 0.30% $1,000 -
Northern State Bank Of Virginia 0.30% $25,000 -
First Farmers & Merchants State Bank Of Grand Meadow 0.30% $1,000 -
Riverwood Bank 0.30% $25,000 -
Plaza Park State Bank 0.30% $500 -
Bank Forward 0.30% $500 -
Security State Bank Of Fergus Falls 0.30% $25,000 -
Eagle Valley Bank, National Association 0.30% $10,000 -
Concorde Bank 0.29% $500 -
Western National Bank 0.26% $10,000 -
State Bank Of New Richland 0.26% $10,000 -
First Farmers & Merchants National Bank 0.25% $1,000 -
Frandsen Bank & Trust 0.25% $500 -
Farmers State Bank Of West Concord 0.25% $250 -
Roundbank 0.25% $50,000 -
Cambridge State Bank 0.25% $1,000 -
United Minnesota Bank 0.25% $500 -
First State Bank Minnesota 0.25% $500 -
Valley Premier Bank 0.25% $500 -
First Farmers & Merchants State Bank 0.25% $1,000 -
Elysian Bank 0.25% $1,000 -
Bell State Bank & Trust 0.25% $100,000 -
Community Pride Bank 0.25% $500 -
Castle Rock Bank 0.25% $2,000 -
Unity Bank 0.25% $10,000 -
United Valley Bank 0.25% $500 -
First Security Bank - Sleepy Eye 0.25% $500 -
Wells Federal Bank 0.25% $5,001 -
Northeast Bank 0.25% $10,000 -
Lake Elmo Bank 0.25% $25,000 -
Peoples State Bank Of Wells 0.25% $1,000 -
Rushford State Bank (incorporated) 0.25% $500 -
First International Bank & Trust 0.25% $100,000 -
The First National Bank Of Coleraine 0.25% $500 -
Lake Country Community Bank 0.25% $1,000 -
Peoples Bank Midwest 0.25% $25,000 -
The First National Bank Of Northfield 0.25% $1,000 -
Community Resource Bank 0.25% $25,000 -
Home Federal Bank 0.25% $500 -
State Bank Of Delano 0.25% $500 -
The First National Bank Of Proctor 0.25% $100 -
The Pioneer National Bank Of Duluth 0.25% $1,000 -
The Nicollet County Bank Of Saint Peter 0.25% $10,000 -
Lake Region Bank 0.25% $1 -
First Security Bank - Canby. 0.25% $10,000 -
Hometown Bank 0.25% $1,000 -
North American State Bank 0.25% $10,000 -
Grand Rapids State Bank 0.25% $1,000 -
First Minnetonka City Bank 0.25% $1,000 -
Farmers And Merchants State Bank Of Sacred Heart 0.25% $1,000 -
Financial Security Bank 0.25% $50,000 -
Progrowth Bank 0.25% $10,000 -
State Bank Of New Prague 0.25% $10,000 -
Kleinbank 0.25% $1,000 -
First National Bank Minnesota 0.25% $1,000 -
Village Bank 0.25% $1,000 -
Highland Bank 0.25% $1,000 -
Northern State Bank Of Virginia 0.25% $10,000 -
Alerus Financial, National Association 0.25% $2,500 -
Riverwood Bank 0.25% $10,000 -
Tcf National Bank 0.25% $100,000 -
Heritage Bank National Association 0.23% $10,000 -
The Bank Of Elk River 0.22% $200 -
Americana Community Bank 0.21% $500 -
Minnesota Lakes Bank 0.20% $10,000 -
Premier Bank Rochester 0.20% $10,000 -
Roundbank 0.20% $2,000 -
Merchants Bank, National Association 0.20% $500 -
Security State Bank Of Marine 0.20% $300 -
Center National Bank 0.20% $500 -
Gate City Bank 0.20% $1,000 -
Fidelity Bank 0.20% $10,000 -
Peoples Bank Of Commerce 0.20% $10,000 -
Bank Midwest 0.20% $1 -
F & M Community Bank, National Association 0.20% $10,000 -
American National Bank 0.20% $5,000 -
Bankwest 0.20% $2,000 -
North Star Bank 0.20% $1 -
Crookston National Bank 0.20% $500 -
Frandsen Bank & Trust 0.20% $10,000 -
First American Bank, N.a. 0.20% $500 -
Bremer Bank, National Association 0.20% $10,000 -
West Bank 0.20% $25,000 -
Anchor Bank, National Association 0.20% $500 -
American Federal Bank 0.20% $10,000 -
Peoples Bank Midwest 0.20% $10,000 -
Security State Bank Of Fergus Falls 0.20% $10,000 -
Financial Security Bank 0.20% $10,000 -
Citizens Independent Bank 0.20% $500 -
Brainerd Savings And Loan Association, A Federal Association 0.20% $500 -
Bankcherokee 0.20% $1,000 -
Bell State Bank & Trust 0.20% $500 -
Bmo Harris Bank National Association 0.20% $100,000 -
Bank Mutual 0.20% $50,000 -
Woodland Bank 0.20% $500 -
The First National Bank Of Elk River 0.20% $10,000 -
Associated Bank, National Association 0.18% $100,000 -
Frandsen Bank & Trust 0.17% $10,000 -
First National Bank 0.17% $1,000 -
Winona National Bank 0.16% $500 -
West Bank 0.15% $1,000 -
The First State Bank Of Rosemount 0.15% $500 -
Premier Bank Minnesota 0.15% $1,000 -
1st United Bank 0.15% $10,000 -
Lake Area Bank 0.15% $50,000 -
Frandsen Bank & Trust 0.15% $10,000 -
New Market Bank 0.15% $1,000 -
Bmo Harris Bank National Association 0.15% $5,000 -
Bank Of The West 0.15% $10,000 -
Merchants Bank, National Association 0.15% $500 -
Lake Elmo Bank 0.15% $1,000 -
Sterling State Bank 0.15% $1,000 -
First International Bank & Trust 0.15% $500 -
Tcf National Bank 0.15% $500 -
First Resource Bank 0.15% $500 -
First State Bank And Trust 0.15% $1,000 -
Community Resource Bank 0.15% $10,000 -
Bank Mutual 0.15% $10,000 -
Manufacturers Bank & Trust Company 0.15% $10,000 -
Security State Bank Of Lewiston 0.15% $10,000 -
Deerwood Bank 0.12% $1,000 -
Frandsen Bank & Trust 0.12% $10,000 -
Lake Area Bank 0.10% $2,500 -
Security State Bank Of Hibbing 0.10% $1,000 -
U.s. Bank National Association 0.10% $10,000 -
Home Federal Savings Bank 0.10% $10,000 -
Security State Bank Of Lewiston 0.10% $1,000 -
21st Century Bank 0.10% $1,000 -
Frandsen Bank & Trust 0.10% $10,000 -
Citizens Bank & Trust Co. 0.10% $2,500 -
Associated Bank, National Association 0.10% $10,000 -
Frandsen Bank & Trust 0.07% $10,000 -
Bank Of America, National Association 0.07% $10,000 -
The State Bank Of Faribault 0.05% $1,000 -
Bank Of America, National Association 0.05% $10,000 -
Wells Fargo Bank, National Association 0.05% $10,000 -
Merchants Bank, National Association 0.05% $500 -
Guaranty Bank 0.05% $1,000 -

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.

  • Tammie H.

    April 19, 2016

    Hello,

    I was just wondering if the rates posted on this site were current?

    I noticed at the top it does have todays date.

    Thank you.

  • boo

    April 13, 2016

    rates suck

  • Dan

    March 14, 2016

    The local offerings are there. Just put in your zip code. Click the link that says: Change zip.

  • F Jamees

    March 14, 2016

    Where are the local offerings of 71913. They use to be for local banks, we miss them. F James

  • Larry Triemer (ltriemer@yahoo.com)

    March 02, 2016

    I stopped receiving my weekly bank rates and wanted you to resume sending them. I registered today, again, using my work e-mail and would like for you to send them to the abovementioned e=mail address.

    Thank you,

    Larry Triemer+

  • jim

    February 12, 2016

    bank of Ontario (Ontario wi) offering 1 year ira cd for 1.9%

  • mike

    February 07, 2016

    Why can banks 100 miles away offer rates 5 to 6 time higher on a one year CD , seems banks and or there management in this area simply refuse to be competitive and show no respect for the people , neighbors and area they live and work in.

  • Braun

    December 30, 2015

    @Brian. Click the tabs at the top. You can choose the rate term you want.

  • Brian

    December 30, 2015

    Where are the 60 month CD rates?

  • won't say

    November 05, 2015

    where are the local banks?

  • «
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Add Your Comment

 

Certificates of Deposit - Branch Banks

A certificate of deposit (CD) is a savings product offered by a bank in which a depositor (someone who has money to put into the bank) agrees to commit a certain amount of money for a set period of time, in return for a fixed rate of interest. While it is possible to withdraw the money earlier (breaking the CD) doing so comes with high interest penalties and is generally not advised.

CD Terms

The time period in which money is held in a certificate of deposit is called the term. Terms can run for any period of time but in general, banks use the following terms: 3 months, 6 months, 12 months, 18 months, 24 months, 36 months, 48 months, and 60 months. Terms can either be described in months or years. The term that is right for each individual depends on their goals, the rate they which to earn, and their future plans for the money. In general, if rates are going up, savers should avoid putting the money into a long-term CD. If rates are going down, then the opposite is true, and savers should try and lock into a good rate for an extended period of time.

CD Risk

Almost all banks provide CDs to their consumers and they have been a mainstay of savers and retirement accounts for years. If FDIC insured, the CD represents a safe place to put money that will generate a predictable return.

Inflation is the main risk of a CD. Inflation can often run higher than the inflation adjusted return on a CD, thus eroding the value of the money stored in the CD over time. This is especially true for longer-term CDs opened in low interest rate environments.

How Interest is Paid

The method of distributing the interest earned on a CD varies by bank. Some banks pay interest monthly, other semi-annually, and others at the maturity of the CD. One advantage of a branch-based bank is that a depositor can walk into the bank and receive their interest that day in the form of a check. Online banks tend to use electronic funds transfer or check via mail.

Interest Rate

Since the financial crisis in 2008, CDs have become less popular because the yields they offer have dropped precipitously, making it difficult for retirees and savers to generate sufficient income. But investors looking for a place to stash some cash might still find CDs an attractive place for some of their savings. Online banks generally offer better rates on six month CDs but the accounts must be opened online. View online bank rates.

When interest rates are falling, it is often preferable to lock in high rates for an extended period of time with a longer-term CD. When interest rates are rising, depositors should avoid committing their money for long periods of time. To see interest rate trends, visit the BestCashCow rate analysis page.

Advantages and Disadvantages

The advantages of a Certificate of Deposit from a branch bank are:

 · 

Funds deposited in FDIC banks and within insurance limits are protected by the full faith and credit of the United States government.

 · 

CDs provide a predictable, set rate of return.

 · 

Depositors can walk into a local branch and open the CD and fund it that day. Question and inquiries can also be handles in-person.

The disadvantages of branch-based CDs are:

 · 

The deposited money is committed for a certain period of time and can only be withdrawn with substantial penalties.

 · 

One year CDs from branch banks often pay less interest than from online banks.

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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