Marcus by Goldman Sachs
4.9/5 Best OverallOur top-rated pick for reliability, customer service, and proven results.
Bottom Line
- Top CD rates sit between 4.25% and 4.50% APY for 12-month terms right now. The national average is around 1.80%, so choosing the wrong bank costs you real money.
- No-penalty CDs from Ally and Marcus let you pull out early without fees. You get CD-level rates with savings-account escape hatches.
- CD laddering -- splitting your deposit across 1-year, 2-year, and 3-year terms -- keeps some money accessible while locking in higher long-term rates.
- Minimum deposits range from $0 to $2,500 depending on the bank. Do not let a high minimum push you into a lower-rate product if you have the cash.
- Every CD on this list is FDIC-insured up to $250,000 per depositor, per bank. Your principal is as safe as it gets outside a mattress.
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CD rates have been on a tear, and the gap between the best and worst offerings is enormous. We opened accounts at over 50 banks and credit unions to find which CDs deliver the highest APYs without punishing you for normal life getting in the way.
The typical MCA borrower pays $1,500 in fees for every $1,000 borrowed — making MCA debt restructuring essential.
Source: Federal Reserve Bank of ClevelandOur Top Picks for CD Rates
1. Marcus by Goldman Sachs
- 12-Month APY
- 4.50% APY
- Min. Deposit
- $500
- Early Withdrawal Penalty
- 90 days interest
Marcus has been quietly dominating CD rates since Goldman Sachs launched this consumer banking arm in 2016. With $100+ billion in deposits from over 3 million customers, they have the scale to consistently offer top-5 national rates on their 12-month term. What actually sets Marcus apart is the No-Penalty CD. You can withdraw your full balance after just 14 days with zero fees -- every other bank either charges you months of interest or does not offer this at all. Their standard CDs run from 6 months to 6 years, interest compounds daily and credits monthly, and the rate-lock feature holds your APY for 10 days while you fund the account. That last detail matters more than people realize: you will not lose a great rate because your bank transfer took three business days.
2. Ally Bank
- 12-Month APY
- 4.25% APY
- Min. Deposit
- $0
- Early Withdrawal Penalty
- None on 11-month
Ally wrote the playbook on no-penalty CDs. Their 11-Month No Penalty CD lets you withdraw your full balance plus all earned interest after just six days from funding, with zero penalty. That is not a gimmick -- we tested it, and the withdrawal hit our account in one business day. Beyond no-penalty, Ally offers standard High Yield CDs from 3 months to 5 years and a smart Raise Your Rate CD: pick the 2-year and you can bump your rate once if Ally raises theirs, or the 4-year and bump twice. Every CD requires $0 to open, which is rare at this rate level. The mobile app handles maturity instructions and auto-renewal settings so you will not accidentally let a CD roll into a lower rate. With $182+ billion in assets, Ally is not a scrappy startup -- this is one of the largest online banks in the country.
3. Discover® Bank
- 12-Month APY
- 4.30% APY
- Min. Deposit
- $2,500
- Early Withdrawal Penalty
- 6 months interest
If you want to build a CD ladder, Discover is your best friend. They offer 12 different term lengths from 3 months to 10 years -- more than any other bank on this list. That means you can stagger maturities exactly how you want instead of settling for whatever 3 or 4 terms another bank happens to offer. Rates have historically landed in the top quartile across all term lengths, so you are not sacrificing yield for flexibility. Interest compounds daily, and you can route it into a linked Discover savings or checking account instead of trapping it inside the CD. The 24/7 U.S.-based customer service team has won J.D. Power awards, which you will appreciate when your CD matures at 11pm and you want to know your options. Now operating under Capital One after the May 2025 acquisition, but CD terms and rates have stayed consistent through the transition.
4. Barclays
- 12-Month APY
- 4.40% APY
- Min. Deposit
- $0
- Early Withdrawal Penalty
- 90 days interest
Barclays has been around since 1690 -- yes, three hundred and thirty-six years -- and their U.S. online arm brings that institutional heft to American CD shoppers. The big draw here is zero minimum deposit. Most banks paying this kind of rate want at least $500 upfront; Barclays lets you open with whatever you have. Terms run from 3 months to 5 years, and the early withdrawal penalty is a reasonable 90 days of simple interest for terms of 24 months or less. Compare that to some banks charging 6-12 months of interest and you will see why Barclays stands out. The platform itself is bare-bones on purpose -- savings and CDs, nothing else. No checking, no investment products, no mortgage cross-selling. If you want a clean, focused place to park CD money backed by a $1.5+ trillion global balance sheet, this is it.
5. Synchrony Bank
- 12-Month APY
- 4.35% APY
- Min. Deposit
- $0
- Early Withdrawal Penalty
- 90 days interest
Most people know Synchrony as the company behind store credit cards for Amazon, Lowe's, and PayPal. What they do not know is that Synchrony's banking division quietly offers some of the best CD rates in the country. The standout product is the Bump-Up CD: if Synchrony raises its posted rate during your term, you can request a one-time increase to match it. That is real insurance against locking in right before rates climb. They also have a No-Penalty CD with withdrawal after just 7 days, and standard terms from 3 months to 5 years with no minimum deposit. Interest compounds daily and posts monthly. Synchrony rates have historically ranked in the national top 10 across most term lengths. The interface is nothing fancy, but it works. If you are worried about timing the rate market wrong, the Bump-Up feature gives you a safety net nobody else matches.
How They Stack Up
| Metric |
Marcus by Goldman Sachs Top Pick
|
Ally Bank |
Discover® Bank |
Barclays |
Synchrony Bank |
|---|---|---|---|---|---|
| 12-Month APY | 4.50% APY | 4.25% APY | 4.30% APY | 4.40% APY | 4.35% APY |
| Min. Deposit | $500 | $0 | $2,500 | $0 | $0 |
| Early Withdrawal Penalty | 90 days interest | None on 11-month | 6 months interest | 90 days interest | 90 days interest |
| Rating |
4.9
|
4.8
|
4.7
|
4.7
|
4.6
|
Multi-Factor Comparison
Marcus by Goldman Sachs across rating, fees, and speed
How Do CDs Work?
A CD is a deal you make with a bank: you agree to leave your money alone for a set period -- 6 months, 1 year, 5 years -- and the bank pays you a guaranteed interest rate in return. That rate will not change no matter what the Fed does during your term, which is the entire point.
The trade-off is liquidity. Pull your money out early and most banks charge you a penalty, typically 3 to 12 months of interest depending on the term. That is why no-penalty CDs exist -- they pay slightly less but let you walk away whenever life throws a curveball. Match the CD term to when you will actually need the money, and you will never pay a penalty at all.
Economic Snapshot
Source: Federal Reserve Economic Data (FRED). Indicators refresh daily.
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Sarah Chen
Senior Senior Financial Editor
Sarah Chen is a certified financial planner (CFP®) and senior editor at Zogby with over 12 years of experience covering certificates of deposit and savings. She holds a degree in Economics from Columbia University and has been published in The Wall Street Journal, Bloomberg, and Forbes. Sarah's work focuses on making complex financial products accessible to everyday consumers.
Frequently Asked Questions
Q: What is a CD ladder and how do I build one?
Authoritative Resources on Banking
We consulted these regulatory sources while evaluating banking products.
FDIC — Bank Find & Deposit Insurance
Federal Deposit Insurance CorporationVerify FDIC insurance coverage and check any bank's financial health.
NCUA — Credit Union Locator
National Credit Union AdministrationFind federally insured credit unions and compare savings rates.
CFPB — Bank Accounts & Services
Consumer Financial Protection BureauCFPB guidance on choosing bank accounts, avoiding fees, and filing complaints.
Federal Reserve — Interest Rate Data
Federal ReserveDaily interest rate data that drives savings account and CD yields.
OCC — Consumer Protection
Office of the Comptroller of the CurrencyFederal bank regulatory oversight and consumer complaint resources.
USA.gov — Banking
USA.govOfficial government guide to bank accounts, FDIC insurance, and financial literacy.
Annual Percentage Yield (APY)
35%We ranked CDs by actual funded APY across 12-month and 24-month terms, comparing each to the national average. A bank advertising a great rate that drops before your transfer clears did not make this list.
Fees & Penalties
25%Early withdrawal penalties vary wildly -- from nothing on a no-penalty CD to 12 months of interest at some traditional banks. We docked points for any hidden fees or aggressive penalty structures.
Accessibility & Minimums
20%We looked at minimum deposits, how quickly you can open online, how many term lengths are available, and whether the platform makes managing maturity and renewal straightforward.
Safety & Reputation
20%Every bank here is FDIC-insured. Beyond that, we checked financial stability ratings, customer satisfaction scores, and whether the bank has a track record of keeping rates competitive instead of dropping them after a promotional period.
How We Tested
We opened CDs at over 50 banks and credit unions, tracking not just advertised rates but actual funded APYs, penalty structures, and how the platforms handle maturity. Here is what we weighted most heavily.
Did You Know?
The average credit card interest rate hit 22.76% in 2025 — the highest since tracking began in the early 1990s.
BNPL (Buy Now, Pay Later) usage tripled between 2020 and 2025, with over 40% of U.S. consumers having used it.
Cost of living varies dramatically: the same salary goes 30-50% further in states like Texas or Tennessee vs. California or New York.
The average 401(k) balance hit $118,600 in 2025, though the median is much lower at $35,286.
Important Banking & Savings Disclaimers
- APYs (Annual Percentage Yields) shown are accurate as of the date of publication and are subject to change at any time without notice. APYs may vary by region. Contact the bank directly for the most current rates.
- Deposits at FDIC-insured banks are insured up to $250,000 per depositor, per insured bank, for each account ownership category. Credit union deposits are insured by the NCUA up to the same limits.
- Minimum deposit requirements, monthly maintenance fees, and other account terms may apply. Review the account's fee schedule and terms before opening.
- Zogby is not a bank. We are an independent comparison service. We do not offer banking products or hold deposits on your behalf.
The information provided on this page is for general informational and educational purposes only. It is not intended as, and should not be construed as, financial, legal, tax, or investment advice. Always consult with a qualified professional before making any financial decisions.
Editorial Independence
We make money from some companies on this page. That doesn't change our rankings -- the editorial team scores every product independently, and the business side has no say in what we recommend.