Best 60-Month CD Rates
The best nationally available return is 2.55% APY, while the top local deal pays 3.05% APY. Will savings rates start moving higher next year?
For savers looking for worthy 5-year CD rates, 2019 has been an okay year. The Federal Reserve voted on September 18th to drop the benchmark rate a quarter point to a target range of 1.75-2.00%. That means current CD rates have fallen a little, but good rates can still be found.
Nationally Available Bank Deals
|State Bank of India-Chicago||2.27%||$2,500|
|State Farm Bank||2.40%||$500|
|Capital One||1.60%||No minimum|
|Bank of Baroda||2.55%||$1,000|
|Gulf Coast Bank & Trust||1.50%||$2,000|
|Federal Savings Bank||1.35%||$10,000|
|First Internet Bank of Indiana||2.30%||$1,000|
Fortunately, local deals from credit unions and community banks continue to pay up to three-quarters of a percentage point more than the leading national return — over 3% in one instance. The current leader, paying 2.50% APY, is the Bank of Baroda, which is an international Indian bank and is FDIC-insured. It has held the top spot for the past few months.
Earning More with Local Deals
Some savvy savers can out-earn the top national rate with certificates of deposit from a community bank or credit union. These institutions often offer chart-topping yields to savers who live or work nearby or are willing to jump through a hoop or two.
Here’s a baker’s dozen of worthy deals, paying qualified savers as much as 2.90% APY on 5-year terms. One of the credit unions even accepts members nationwide. As always on the deals below, eligibility requirements will apply. So contact the bank or credit union directly to determine if you qualify. Savers looking for longer terms and more stability, though lower return, should also consider savings bonds as part of their portfolio.
Top 5-Year CDs From Credit Unions & Community Banks
|Self Reliance New York Federal Credit Union||New York||$500||2.90%|
|General Electric Credit Union||Ohio, Indiana, Kentucky||$500||2.30%|
|American United Federal Credit Union||Utah||$500||2.70%|
|Jefferson Financial Credit Union||Louisiana||$10,000||1.90%|
|Advancial Federal Credit Union||Texas, Louisiana, Oklahoma, New Jersey, Alaska||$25,000||2.47%|
|Deere Employees Credit Union||Georgia, Illinois, Iowa, North Dakota, South Carolina, Wisconsin||$500||2.80%|
|Nebo Credit Union||Utah||$25||2.50%|
|Granite Credit Union||Utah||$500||2.65%|
|IH Mississippi Valley Credit Union||Illinois, Iowa||$500||1.85%|
|Mountain America Credit Union||Nationwide||$500||2.50%|
|America First Credit Union||Nevada, Utah||$500||2.70%|
|Cyprus Credit Union||Utah||$1,000||2.60%|
|University Federal Credit Union||Utah||$1,000||2.55%|
RATE SEARCH: Compare the best CD rates.
Disclaimer: The rates above were verified October 1, 2019. Credit unions and community banks should be contacted directly to determine eligibility for opening accounts with that institution, as well as to verify current rates.