Discover top CD rates for 2024 with this comprehensive guide, featuring leading banks like Goldman Sachs, Synchrony, and Ally. Learn about current interest rates, minimum deposits, and how to maximize returns on your savings with FDIC-insured Certificates of Deposit. Stay updated on market trends to make informed investment choices in the evolving interest climate.

Explore the Best CD Rates Today

A Certificate of Deposit (CD) is a savings instrument where you commit to keep your money deposited for a fixed period in exchange for a higher interest rate. CD rates determine the interest earned on these deposits, shaped by factors like the investment length and current interest rate environment.

Goldman Sachs Marcus

Marcus, the retail banking division of Goldman Sachs, provides competitive FDIC-insured CD options. With a minimum deposit of just $500, you can take advantage of some of the best market rates:

6 months: 0.60% APY

9 months: 0.70% APY

12 months: 2.55% APY

18 months: 2.55% APY

24 months: 2.60% APY

36 months: 2.65% APY

60 months: 3.10% APY

72 months: 3.15% APY

Synchrony Bank

Originally part of GE, Synchrony Bank now operates online, offering attractive, FDIC-insured CD options suitable for rising interest periods.

3 months: 0.75% APY

6 months: 1.00% APY

9 months: 1.25% APY

12 months: 2.45% APY

13 months: 2.65% APY

18 months: 2.55% APY

24 months: 2.65% APY

36 months: 2.70% APY

48 months: 2.80% APY

60 months: 3.00% APY

Barclays Bank

Although based in London, Barclays maintains a local presence, offering competitive CD rates without minimum deposit requirements. Current rates include:

1-year: 2.45% APY

2-year: 2.50% APY

3-year: 2.55% APY

4-year: 2.65% APY

5-year: 3.00% APY

Ally Bank

This online bank offers no-deposit CDs perfect for small-scale investors, ensuring FDIC insurances coverage. Their current rates are:

3 months: 0.75% APY for deposits under $5,000, $5,000, and $25,000

6 months: 1.00% APY for deposits under $5,000, $5,000, and $25,000

9 months: 1.25% APY across all deposit levels

12 months: 2.25% APY for less than $5,000; 2.40% for $5,000; 2.50% for $25,000

18 months: 2.35% to 2.55% APY based on deposit size

3 years: 2.50% to 2.60% APY

5 years: 2.75% to 3.00% APY

CIT Bank

Established in 2009, CIT Bank has swiftly grown, managing over $42 billion in assets.

Currently, they offer a 12-month CD with a 2.50% APY requiring a $1,000 minimum deposit.

Average CD Rates Today

Rates fluctuate daily, so it’s important to compare for the best returns. The FDIC reports the following average rates for deposits under $100,000:

1 month: 0.07%

3 months: 0.11%

6 months: 0.18%

1 year: 0.31%

2 years: 0.47%

3 years: 0.62%

4 years: 0.73%

5 years: 0.92%