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Best 1-Year CD Rates of December 2024

Review Updated
Matt Frankel, CFP®
Author: Matt Frankel, CFP®
Matt Frankel, CFP®
Matt Frankel, CFP®
Writer, Analyst

Matt is a Certified Financial Planner™ and investment advisor based in Columbia, South Carolina. He writes personal finance and investment advice for Motley Fool Money and its parent company The Motley Fool, with more than 4,500 published articles and a 2017 SABEW Best in Business award. Matt writes a weekly investment column for the Motley Fool ("Ask a Fool") that is syndicated in USA Today, and his work with Motley Fool Money has also been syndicated to MSN and Yahoo! Finance. He has been regularly featured on Fox Business and many other major outlets. He’s a graduate of the University of South Carolina and Nova Southeastern University, and holds a graduate certificate in financial planning from Florida State University.

See Full Bio

| 2 others [ + ]
Ashley Maready
Reviewer: Ashley Maready
Ashley Maready
Ashley Maready
Writer and Editor

Ashley Maready is a former history museum professional who made the leap to digital content writing and editing in 2021. She has a BA in History and Philosophy from Hood College and an MA in Applied History from Shippensburg University. Ashley loves creating content for the public and learning new things so she can teach others, whether it's information about salt mining, canal mules, or personal finance.

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Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
Nathan Alderman
Fact checker

Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

Twelve-month CD rates can help to build savings quickly while keeping funds flexible. If you prefer not to tie up funds for several years, 12-month CDs could be the perfect term length for you.

Here are the best 1-year CD rates, factors to include in your decision, and alternatives that can also maximize your savings.

  • Our team of experts assessed 100+ banking institutions
  • We evaluate all banking institutions across the same 4 key criteria: annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks
  • Our bank ratings are never influenced by our advertising partners
  • We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased

Our picks for the best 1-year CD rates

How to compare 1-year CDs

Twelve-month CDs are often the point where rates make a big jump from those of shorter CDs. Here are some other factors besides CD rates to consider when comparing 1-year CDs.

Compare the top 1-year CDs

Ratings Methodology
Rates as of Dec. 18, 2024
Best 1-year certificates of deposits (CDs) of December 2024 picks.
Bank & CD Offer APY Term Min. Deposit Next Steps
APY: 4.00% Term: 1 Year Min. Deposit:  $0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

APY: 4.15% Term: 1 Year Min. Deposit:  $0
Open Account for Barclays Online CD

On Barclays' Secure Website.

Member FDIC.
APY: 4.00% Term: 1 Year Min. Deposit:  $500
Open Account for

On Secure Website.

Member FDIC.
APY: 4.00% Term: 1 Year Min. Deposit:  $2,500
Open Account for LendingClub CD

On LendingClub's Secure Website.

APY: 4.10% Term: 1 Year Min. Deposit:  $500
Read Review
APY: 4.40% Term: 1 Year Min. Deposit:  $0
Read Review
APY: 4.10% Term: 1 Year Min. Deposit:  $2,500
Read Review
Member FDIC.
APY: 4.50% Term: 1 Year Min. Deposit:  $1,000
Read Review
APY: 4.30% Term: 1 Months Min. Deposit:  $1
Read Review
Huntington Bank Standard CD
Member FDIC.
APY: 0.05% Term: 1 Months Min. Deposit:  $1,000
APY: 3.71% Term: 3 Months Min. Deposit:  $10,000
Read Review
Member FDIC.
APY: up to 4.75% Term: 3 Months Min. Deposit:  $1,000
Read Review
APY: 3.00% Term: 3 Months Min. Deposit:  $0
Read Review
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 3 Months Min. Deposit:  $500
APY: 4.30% Term: 3 Months Min. Deposit:  $1
Read Review
Member FDIC.
APY: up to 4.63% Term: 3 Months Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 4.50% Term: 3 Months Min. Deposit:  $1,000
Read Review
APY: 2.00% Term: 3 Months Min. Deposit:  $0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

APY: 4.50% Term: 3 Months Min. Deposit:  $1
Open Account for

On Secure Website.

Member FDIC.
APY: 3.80% Term: 3 Months Min. Deposit:  $1,500
Read Review
Huntington Bank Standard CD
Member FDIC.
APY: 0.05% Term: 3 Months Min. Deposit:  $1,000
Member FDIC.
APY: 4.65% Term: 3 Months Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 4.65% Term: 3 Months Min. Deposit:  $10,000
Read Review
APY: 2.00% Term: 3 Months Min. Deposit:  $500
Read Review
APY: up to 2.01% Term: 3 Months Min. Deposit:  $2,500 for Standard, $5,000 for Special
Read Review
APY: up to 4.51% Term: 4 Months Min. Deposit:  $2,500 for Standard, $5,000 for Special
Read Review
APY: 5.50% Term: 5 Months Min. Deposit:  $2,500
Read Review
First National Bank Special CD
Member FDIC.
APY: 4.75% Term: 5 Months Min. Deposit:  $5,000 or $10,000, depending on term
APY: 4.90% Term: 5 Months Min. Deposit:  —
Read Review
Member FDIC.
APY: 3.00% Term: 6 Months Min. Deposit:  $1,000
Read Review
APY: 4.00% Term: 6 Months Min. Deposit:  $1
Read Review
Member FDIC.
APY: 3.50% Term: 6 Months Min. Deposit:  $500
Read Review
Vanguard Brokered CD
Member FDIC.
APY: 5.25% Term: 6 Months Min. Deposit:  $1,000
APY: 4.50% Term: 6 Months Min. Deposit:  $500
Read Review
Valley Bank CD
Member FDIC.
APY: 4.75% Term: 6 Months Min. Deposit:  $500
Member FDIC.
APY: 0.05% Term: 6 Months Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 4.45% Term: 6 Months Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: up to 4.35% Term: 6 Months Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 5.30% Term: 6 Months Min. Deposit:  $1,000
Read Review
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.80% Term: 6 Months Min. Deposit:  $1,000
APY: 4.20% Term: 6 Months Min. Deposit:  $0
Read Review
APY: 0.50% Term: 6 Months Min. Deposit:  $1,000
Read Review
APY: 4.70% Term: 6 Months Min. Deposit:  $500
Read Review
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 6 Months Min. Deposit:  $1,000
APY: 5.00% Term: 6 Months Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 4.00% Term: 6 Months Min. Deposit:  $2,500
Open Account for LendingClub CD

On LendingClub's Secure Website.

APY: up to 4.91% Term: 6 Months Min. Deposit:  $500
Read Review
Member FDIC.
APY: 4.25% Term: 6 Months Min. Deposit:  $0
Read Review
APY: 4.35% Term: 6 Months Min. Deposit:  $1,000
Read Review
APY: 4.40% Term: 6 Months Min. Deposit:  $1
Open Account for

On Secure Website.

APY: 4.50% Term: 6 Months Min. Deposit:  $10,000
Read Review
APY: 4.65% Term: 6 Months Min. Deposit:  $500
Read Review
APY: 4.10% Term: 6 Months Min. Deposit:  $500
Read Review
Member FDIC.
APY: 4.40% Term: 6 Months Min. Deposit:  $10,000
Read Review
APY: 4.20% Term: 6 Months Min. Deposit:  $1
Read Review
Member FDIC.
APY: up to 4.30% Term: 6 Months Min. Deposit:  $1,000
Read Review
APY: 4.24% Term: 6 Months Min. Deposit:  $10,000
Read Review
Member FDIC.
APY: 1.00% - 4.00% Term: 6 Months Min. Deposit:  $250.00
Read Review
APY: up to 2.01% Term: 6 Months Min. Deposit:  $2,500 for Standard, $5,000 for Special
Read Review
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 6 Months Min. Deposit:  $500
APY: 5.21% Term: 6 Months Min. Deposit:  $1
Read Review
APY: 3.80% Term: 6 Months Min. Deposit:  $0
Read Review
Member FDIC.
APY: 4.15% Term: 6 Months Min. Deposit:  $500
Read Review
Member FDIC.
APY: 3.00% Term: 6 Months Min. Deposit:  $1,000
Open Account for CIT Bank CD

On CIT's Secure Website.

APY: 3.00% Term: 6 Months Min. Deposit:  $500
Read Review
Member FDIC.
APY: 5.25% Term: 6 Months Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 4.25% Term: 6 Months Min. Deposit:  $500
Open Account for

On Secure Website.

APY: 3.70% Term: 6 Months Min. Deposit:  $0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

Member FDIC.
APY: 4.75% Term: 6 Months Min. Deposit:  $1,500
Read Review
APY: 3.95% Term: 6 Months Min. Deposit:  $2,500
Read Review
APY: 4.00% Term: 6 Months Min. Deposit:  $1,000
Read Review
APY: 4.40% Term: 6 Months Min. Deposit:  $0
Read Review
APY: up to 4.26% Term: 7 Months Min. Deposit:  $2,500 for Standard, $5,000 for Special
Read Review
Huntington Bank Promotional CD
Member FDIC.
APY: 5.13% Term: 7 Months Min. Deposit:  $1,000
First National Bank Special CD
Member FDIC.
APY: 4.50% Term: 7 Months Min. Deposit:  $5,000 or $10,000, depending on term
APY: 4.75% Term: 7 Months Min. Deposit:  $500
Read Review
APY: 4.34% Term: 7 Months Min. Deposit:  $1,000
Read Review
Ponce Bank CDs
Member FDIC.
APY: 5.25% Term: 7 Months Min. Deposit:  $1,000
APY: 5.00% Term: 7 Months Min. Deposit:  —
Read Review
Member FDIC.
APY: 3.50% Term: 7 Months Min. Deposit:  $500
Read Review
APY: 4.35% Term: 9 Months Min. Deposit:  $1
Open Account for

On Secure Website.

APY: 4.25% Term: 9 Months Min. Deposit:  $10,000
Read Review
APY: 3.80% Term: 9 Months Min. Deposit:  $0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

Member FDIC.
APY: 4.25% Term: 9 Months Min. Deposit:  $0
Read Review
APY: 4.30% Term: 9 Months Min. Deposit:  $0
Read Review
Member FDIC.
APY: 4.30% Term: 9 Months Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: up to 4.50% Term: 9 Months Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 5.30% Term: 9 Months Min. Deposit:  $1,000
Read Review
APY: 3.65% Term: 9 Months Min. Deposit:  $1
Read Review
APY: 4.10% Term: 9 Months Min. Deposit:  $500
Read Review
Member FDIC.
APY: 3.75% Term: 9 Months Min. Deposit:  $1,000
Read Review
NASA Federal Credit Union High-Yield Certificate
Federally insured by NCUA.
APY: 4.99% Term: 9 Months Min. Deposit:  $10,000
Member FDIC.
APY: 2.50% Term: 9 Months Min. Deposit:  $500
Read Review
APY: 4.00% Term: 9 Months Min. Deposit:  $2,500
Read Review
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 9 Months Min. Deposit:  $1,000
Member FDIC.
APY: 1.00% - 4.00% Term: 9 Months Min. Deposit:  $250.00
Read Review
Member FDIC.
APY: 3.80% Term: 9 Months Min. Deposit:  $1,500
Read Review
APY: 5.31% Term: 10 Months Min. Deposit:  $1
Read Review
Member FDIC.
APY: 4.25% Term: 10 Months Min. Deposit:  $2,500
Open Account for

On Secure Website.

APY: 3.75% Term: 11 Months Min. Deposit:  $0
Read Review
APY: 4.04% Term: 11 Months Min. Deposit:  $1,000
Read Review
Huntington Bank Promotional CD
Member FDIC.
APY: 4.86% Term: 11 Months Min. Deposit:  $1,000
APY: 3.50% Term: 11 Months Min. Deposit:  $1,000
Open Account for CIT Bank No-Penalty CD

On CIT's Secure Website.

APY: 4.50% Term: 1 Year Min. Deposit:  $500
Read Review
APY: 4.00% Term: 1 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 2.00% Term: 1 Year Min. Deposit:  $1,000
Read Review
APY: 4.25% Term: 1 Year Min. Deposit:  $1
Open Account for

On Secure Website.

APY: 4.00% Term: 1 Year Min. Deposit:  $0
Read Review
Member FDIC.
APY: 4.30% Term: 1 Year Min. Deposit:  $1,500
Read Review
Member FDIC.
APY: 1.00% - 3.75% Term: 1 Year Min. Deposit:  $250.00
Read Review
Valley Bank CD
Member FDIC.
APY: 4.50% Term: 1 Year Min. Deposit:  $500
Member FDIC.
APY: 2.50% Term: 1 Year Min. Deposit:  $500
Read Review
APY: 4.00% Term: 1 Year Min. Deposit:  $1
Read Review
Vanguard Brokered CD
Member FDIC.
APY: 5.40% Term: 1 Year Min. Deposit:  $1,000
APY: 4.25% Term: 1 Year Min. Deposit:  $0
Read Review
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 1 Year Min. Deposit:  $500
Member FDIC.
APY: 3.85% Term: 1 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 5.05% Term: 1 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 5.05% Term: 1 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: up to 4.50% Term: 1 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 4.25% Term: 1 Year Min. Deposit:  $1,000
Read Review
APY: 4.20% Term: 1 Year Min. Deposit:  $500
Read Review
APY: 1.50% Term: 1 Year Min. Deposit:  $500
Read Review
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.40% Term: 1 Year Min. Deposit:  $1,000
Member FDIC.
APY: 5.25% Term: 1 Year Min. Deposit:  $1,000
Read Review
APY: 4.42% Term: 1 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 4.25% Term: 1 Year Min. Deposit:  $0
Read Review
Member FDIC.
APY: up to 4.05% Term: 1 Year Min. Deposit:  $1,000
Read Review
APY: 4.37% Term: 1 Year Min. Deposit:  $10,000
Read Review
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 1 Year Min. Deposit:  $1,000
APY: 4.25% Term: 1 Year Min. Deposit:  $500
Read Review
APY: 3.75% Term: 1 Year Min. Deposit:  $1
Read Review
APY: 3.60% Term: 1 Year Min. Deposit:  $0
Read Review
APY: 4.00% Term: 1 Year Min. Deposit:  $10,000
Read Review
APY: 0.75% Term: 1 Year Min. Deposit:  $1,000
Read Review
APY: 4.51% Term: 1 Year Min. Deposit:  $5,000
Read Review
Member FDIC.
APY: 4.25% Term: 1 Year Min. Deposit:  $1,000
Read Review
APY: up to 4.55% Term: 1 Year Min. Deposit:  $500
Read Review
Member FDIC.
APY: 4.30% Term: 1 Year Min. Deposit:  $10,000
Read Review
Member FDIC.
APY: 2.00% Term: 1 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 5.00% Term: 1 Year Min. Deposit:  $5,000
Read Review
APY: 5.20% Term: 1 Year Min. Deposit:  $1,000
Read Review
APY: 5.15% Term: 13 Months Min. Deposit:  —
Read Review
First National Bank Special CD
Member FDIC.
APY: 4.00% Term: 13 Months Min. Deposit:  $5,000 or $10,000, depending on term
Member FDIC.
APY: 4.00% Term: 13 Months Min. Deposit:  $500
Read Review
SchoolsFirst Federal Credit Union CD
Federally insured by NCUA.
APY: 5.00% Term: 13 Months Min. Deposit:  $500
Member FDIC.
APY: 3.50% Term: 13 Months Min. Deposit:  $1,000
Open Account for CIT Bank CD

On CIT's Secure Website.

APY: 4.33% Term: 13 Months Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 4.00% Term: 13 Months Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 0.50% to 1.01% Term: 15 Months Min. Deposit:  $500
Read Review
NASA Federal Credit Union High-Yield Certificate
Federally insured by NCUA.
APY: 4.54% Term: 15 Months Min. Deposit:  $10,000
Federally insured by NCUA.
APY: 5.10% Term: 16 Months Min. Deposit:  $500
Read Review
Member FDIC.
APY: 3.80% Term: 1.5 Year Min. Deposit:  $1,500
Read Review
APY: 3.80% Term: 1.5 Year Min. Deposit:  $2,500
Read Review
Member FDIC.
APY: 4.25% Term: 1.5 Year Min. Deposit:  $1,000
Read Review
Vanguard Brokered CD
Member FDIC.
APY: 5.40% Term: 1.5 Year Min. Deposit:  $1,000
APY: 3.25% Term: 1.5 Year Min. Deposit:  $0
Open Account for Barclays Online CD

On Barclays' Secure Website.

Member FDIC.
APY: 2.50% Term: 1.5 Year Min. Deposit:  $1,000
Read Review
APY: 3.90% Term: 1.5 Year Min. Deposit:  $500
Read Review
APY: 3.70% Term: 1.5 Year Min. Deposit:  $1,000
Read Review
APY: 4.15% Term: 1.5 Year Min. Deposit:  $500
Read Review
APY: 3.35% Term: 1.5 Year Min. Deposit:  $0
Read Review
Member FDIC.
APY: 2.45% Term: 1.5 Year Min. Deposit:  $500
Read Review
Member FDIC.
APY: 3.95% Term: 1.5 Year Min. Deposit:  $1,000
Read Review
APY: 4.00% Term: 1.5 Year Min. Deposit:  $0
Read Review
Member FDIC.
APY: 5.00% Term: 1.5 Year Min. Deposit:  $1,000
Read Review
APY: 4.15% Term: 1.5 Year Min. Deposit:  $1,000
Read Review
APY: 4.25% Term: 1.5 Year Min. Deposit:  $0
Read Review
APY: 4.00% Term: 1.5 Year Min. Deposit:  $500
Read Review
Member FDIC.
APY: 3.00% Term: 1.5 Year Min. Deposit:  $1,000
Open Account for CIT Bank CD

On CIT's Secure Website.

APY: 3.70% Term: 1.5 Year Min. Deposit:  $0
Read Review
Member FDIC.
APY: up to 4.25% Term: 1.5 Year Min. Deposit:  $1,000
Read Review
APY: 3.50% Term: 1.5 Year Min. Deposit:  $10,000
Read Review
Member FDIC.
APY: 5.00% Term: 1.5 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 1.00% - 3.00% Term: 1.5 Year Min. Deposit:  $250.00
Read Review
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 1.5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 3.75% Term: 1.5 Year Min. Deposit:  $2,500
Open Account for LendingClub CD

On LendingClub's Secure Website.

APY: 3.80% Term: 1.5 Year Min. Deposit:  $0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

Member FDIC.
APY: 3.90% Term: 1.5 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 3.85% Term: 1.5 Year Min. Deposit:  $10,000
Read Review
Member FDIC.
APY: 3.90% Term: 1.5 Year Min. Deposit:  $0
Read Review
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 1.5 Year Min. Deposit:  $500
APY: 3.98% Term: 1.5 Year Min. Deposit:  $10,000
Read Review
APY: 1.00% Term: 1.5 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 1.70% Term: 1.5 Year Min. Deposit:  $1,000
Read Review
First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 19 Months Min. Deposit:  $5,000 or $10,000, depending on term
Member FDIC.
APY: 3.50% Term: 2 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 4.90% Term: 2 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 4.00% Term: 2 Year Min. Deposit:  $5,000
Read Review
Member FDIC.
APY: up to 4.40% Term: 2 Year Min. Deposit:  $1,000
Read Review
APY: 3.50% Term: 2 Year Min. Deposit:  $0
Read Review
Valley Bank CD
Member FDIC.
APY: 4.00% Term: 2 Year Min. Deposit:  $500
APY: 3.00% Term: 2 Year Min. Deposit:  $0
Open Account for Barclays Online CD

On Barclays' Secure Website.

Vanguard Brokered CD
Member FDIC.
APY: 5.35% Term: 2 Year Min. Deposit:  $1,000
APY: 3.93% Term: 2 Year Min. Deposit:  $1,000
Read Review
APY: 3.50% Term: 2 Year Min. Deposit:  $10,000
Read Review
Member FDIC.
APY: 3.35% Term: 2 Year Min. Deposit:  $500
Open Account for

On Secure Website.

Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 2 Year Min. Deposit:  $1,000
Member FDIC.
APY: 3.75% Term: 2 Year Min. Deposit:  $2,500
Open Account for LendingClub CD

On LendingClub's Secure Website.

APY: 4.15% Term: 2 Year Min. Deposit:  $500
Read Review
APY: 3.90% Term: 2 Year Min. Deposit:  $0
Read Review
APY: 3.90% Term: 2 Year Min. Deposit:  $1,000
Read Review
APY: 3.50% Term: 2 Year Min. Deposit:  $0
Read Review
Member FDIC.
APY: 3.80% Term: 2 Year Min. Deposit:  $0
Read Review
Member FDIC.
APY: 2.00% Term: 2 Year Min. Deposit:  $500
Read Review
APY: 3.50% Term: 2 Year Min. Deposit:  $0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 2 Year Min. Deposit:  $500
Member FDIC.
APY: 2.50% Term: 2 Year Min. Deposit:  $1,000
Read Review
APY: 4.24% Term: 2 Year Min. Deposit:  $1,000
Read Review
APY: 3.75% Term: 2 Year Min. Deposit:  $500
Read Review
Member FDIC.
APY: 4.90% Term: 2 Year Min. Deposit:  $1,000
Read Review
APY: up to 2.25% Term: 2 Year Min. Deposit:  $500
Read Review
Member FDIC.
APY: up to 3.55% Term: 2 Year Min. Deposit:  $1,000
Read Review
APY: 3.55% Term: 2 Year Min. Deposit:  $10,000
Read Review
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.10% Term: 2 Year Min. Deposit:  $1,000
APY: 1.00% Term: 2 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 3.00% Term: 2 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 1.00% - 3.00% Term: 2 Year Min. Deposit:  $250.00
Read Review
Member FDIC.
APY: 3.85% Term: 2 Year Min. Deposit:  $1,000
Read Review
APY: 4.53% Term: 2 Year Min. Deposit:  $5,000
Read Review
Member FDIC.
APY: 3.80% Term: 2 Year Min. Deposit:  $10,000
Read Review
APY: 3.70% Term: 2 Year Min. Deposit:  $500
Read Review
APY: 3.75% Term: 2 Year Min. Deposit:  $2,500
Read Review
Member FDIC.
APY: 3.75% Term: 2 Year Min. Deposit:  $1,000
Read Review
APY: 3.75% Term: 2 Year Min. Deposit:  $500
Read Review
Member FDIC.
APY: 1.50% Term: 2 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 3.85% Term: 2 Year Min. Deposit:  $1,500
Read Review
Member FDIC.
APY: 3.75% Term: 25 Months Min. Deposit:  $1,000
Read Review
First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 25 Months Min. Deposit:  $5,000 or $10,000, depending on term
APY: 3.50% Term: 30 Months Min. Deposit:  $0
Read Review
APY: 3.40% Term: 30 Months Min. Deposit:  $0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

APY: 3.50% Term: 30 Months Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 3.75% Term: 35 Months Min. Deposit:  $1,000
Read Review
First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 35 Months Min. Deposit:  $5,000 or $10,000, depending on term
APY: up to 2.45% Term: 3 Year Min. Deposit:  $500
Read Review
Member FDIC.
APY: 3.00% Term: 3 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: up to 4.25% Term: 3 Year Min. Deposit:  $1,000
Read Review
APY: 3.60% Term: 3 Year Min. Deposit:  $2,500
Read Review
Member FDIC.
APY: 2.00% Term: 3 Year Min. Deposit:  $500
Read Review
APY: 3.00% Term: 3 Year Min. Deposit:  $0
Open Account for Barclays Online CD

On Barclays' Secure Website.

APY: 3.00% Term: 3 Year Min. Deposit:  $0
Read Review
Member FDIC.
APY: 4.80% Term: 3 Year Min. Deposit:  $1,000
Read Review
APY: 3.75% Term: 3 Year Min. Deposit:  $500
Read Review
Member FDIC.
APY: 3.60% Term: 3 Year Min. Deposit:  $1,000
Read Review
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 3 Year Min. Deposit:  $1,000
APY: 3.50% Term: 3 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 3.60% Term: 3 Year Min. Deposit:  $0
Read Review
APY: 3.40% Term: 3 Year Min. Deposit:  $0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

APY: 4.00% Term: 3 Year Min. Deposit:  $0
Read Review
APY: 2.00% Term: 3 Year Min. Deposit:  $10,000
Read Review
Member FDIC.
APY: 1.40% Term: 3 Year Min. Deposit:  $1,000
Read Review
APY: 3.60% Term: 3 Year Min. Deposit:  $0
Read Review
APY: 1.50% Term: 3 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 3.25% Term: 3 Year Min. Deposit:  $500
Open Account for

On Secure Website.

APY: 3.50% Term: 3 Year Min. Deposit:  $0
Read Review
APY: 3.65% Term: 3 Year Min. Deposit:  $500
Read Review
Member FDIC.
APY: 3.35% Term: 3 Year Min. Deposit:  $5,000
Read Review
Member FDIC.
APY: 1.00% - 2.75% Term: 3 Year Min. Deposit:  $250.00
Read Review
Member FDIC.
APY: 3.50% Term: 3 Year Min. Deposit:  $2,500
Open Account for LendingClub CD

On LendingClub's Secure Website.

First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 3 Year Min. Deposit:  $500
Member FDIC.
APY: 2.50% Term: 3 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 3.50% Term: 3 Year Min. Deposit:  $1,500
Read Review
APY: 3.44% Term: 3 Year Min. Deposit:  $10,000
Read Review
APY: 3.25% Term: 3 Year Min. Deposit:  $500
Read Review
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 4.00% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 3.65% Term: 3 Year Min. Deposit:  $10,000
Read Review
APY: 3.77% Term: 3 Year Min. Deposit:  $1,000
Read Review
Vanguard Brokered CD
Member FDIC.
APY: 5.35% Term: 3 Year Min. Deposit:  $1,000
Member FDIC.
APY: 4.80% Term: 3 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: up to 1.75% Term: 37 Months Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 3.80% Term: 45 Months Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 3.60% Term: 4 Year Min. Deposit:  $10,000
Read Review
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 4 Year Min. Deposit:  $1,000
Member FDIC.
APY: up to 3.80% Term: 4 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 3.40% Term: 4 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 4.55% Term: 4 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 3.50% Term: 4 Year Min. Deposit:  $1,500
Read Review
Member FDIC.
APY: 2.50% Term: 4 Year Min. Deposit:  $1,000
Read Review
Vanguard Brokered CD
Member FDIC.
APY: 5.25% Term: 4 Year Min. Deposit:  $1,000
APY: 3.62% Term: 4 Year Min. Deposit:  $1,000
Read Review
APY: 1.61% Term: 4 Year Min. Deposit:  $1
Read Review
APY: 3.50% Term: 4 Year Min. Deposit:  $1,000
Read Review
APY: 3.00% Term: 4 Year Min. Deposit:  $0
Open Account for Barclays Online CD

On Barclays' Secure Website.

APY: 4.00% Term: 4 Year Min. Deposit:  $0
Read Review
Member FDIC.
APY: 2.00% Term: 4 Year Min. Deposit:  $500
Read Review
APY: 3.25% Term: 4 Year Min. Deposit:  $500
Read Review
Member FDIC.
APY: 1.35% Term: 4 Year Min. Deposit:  $1,000
Read Review
APY: 2.25% Term: 4 Year Min. Deposit:  $10,000
Read Review
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 3.85% Term: 4 Year Min. Deposit:  $1,000
APY: 3.50% Term: 4 Year Min. Deposit:  $500
Read Review
APY: 1.50% Term: 4 Year Min. Deposit:  $1,000
Read Review
APY: 3.40% Term: 4 Year Min. Deposit:  $0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

APY: 3.50% Term: 4 Year Min. Deposit:  $0
Read Review
Member FDIC.
APY: 4.55% Term: 4 Year Min. Deposit:  $1,000
Read Review
First National Bank Standard CD
Member FDIC.
APY: 1.00% Term: 4 Year Min. Deposit:  $500
APY: 3.34% Term: 4 Year Min. Deposit:  $10,000
Read Review
APY: 3.00% Term: 4 Year Min. Deposit:  $0
Read Review
APY: 3.60% Term: 4 Year Min. Deposit:  $500
Read Review
Member FDIC.
APY: 3.40% Term: 4 Year Min. Deposit:  $5,000
Read Review
NASA Federal Credit Union High-Yield Certificate
Federally insured by NCUA.
APY: 4.09% Term: 49 Months Min. Deposit:  $10,000
First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 52 Months Min. Deposit:  $5,000 or $10,000, depending on term
Member FDIC.
APY: 3.90% Term: 59 Months Min. Deposit:  $1,000
Read Review
APY: 3.25% Term: 5 Year Min. Deposit:  $500
Read Review
Member FDIC.
APY: 3.00% Term: 5 Year Min. Deposit:  $1,000
Read Review
APY: 2.25% Term: 5 Year Min. Deposit:  $10,000
Read Review
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 2.50% Term: 5 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 3.50% Term: 5 Year Min. Deposit:  $1,500
Read Review
Member FDIC.
APY: 3.25% Term: 5 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 4.50% Term: 5 Year Min. Deposit:  $1,000
Read Review
APY: 3.60% Term: 5 Year Min. Deposit:  $0
Read Review
Member FDIC.
APY: 1.00% - 2.25% Term: 5 Year Min. Deposit:  $250.00
Read Review
Vanguard Brokered CD
Member FDIC.
APY: 5.35% Term: 5 Year Min. Deposit:  $1,000
First National Bank Standard CD
Member FDIC.
APY: 1.50% Term: 5 Year Min. Deposit:  $500
APY: 3.75% Term: 5 Year Min. Deposit:  $2,500
Read Review
Member FDIC.
APY: 2.00% Term: 5 Year Min. Deposit:  $500
Read Review
Member FDIC.
APY: 1.35% Term: 5 Year Min. Deposit:  $1,000
Read Review
Member FDIC.
APY: 3.40% Term: 5 Year Min. Deposit:  $2,500
Open Account for LendingClub CD

On LendingClub's Secure Website.

Member FDIC.
APY: 3.45% Term: 5 Year Min. Deposit:  $5,000
Read Review
APY: 3.40% Term: 5 Year Min. Deposit:  $0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

APY: 3.60% Term: 5 Year Min. Deposit:  $500
Read Review
APY: 3.50% Term: 5 Year Min. Deposit:  $0
Read Review
APY: 3.29% Term: 5 Year Min. Deposit:  $10,000
Read Review
NASA Federal Credit Union Share Certificate
Federally insured by NCUA.
APY: 3.75% Term: 5 Year Min. Deposit:  $1,000
Member FDIC.
APY: 3.50% Term: 5 Year Min. Deposit:  $0
Read Review
Member FDIC.
APY: 3.55% Term: 5 Year Min. Deposit:  $10,000
Read Review
Member FDIC.
APY: up to 4.30% Term: 5 Year Min. Deposit:  $1,000
Read Review
APY: 3.25% Term: 5 Year Min. Deposit:  $0
Open Account for Barclays Online CD

On Barclays' Secure Website.

APY: 1.50% Term: 5 Year Min. Deposit:  $1,000
Read Review
APY: 3.25% Term: 5 Year Min. Deposit:  $500
Read Review
APY: 4.00% Term: 5 Year Min. Deposit:  $0
Read Review
Member FDIC.
APY: 3.00% Term: 5 Year Min. Deposit:  $500
Open Account for

On Secure Website.

APY: 3.50% Term: 5 Year Min. Deposit:  $1,000
Read Review
APY: 3.00% Term: 5 Year Min. Deposit:  $0
Read Review
Member FDIC.
APY: 4.50% Term: 5 Year Min. Deposit:  $1,000
Read Review
APY: up to 3.55% Term: 5 Year Min. Deposit:  $500
Read Review
APY: 3.67% Term: 5 Year Min. Deposit:  $1,000
Read Review
First National Bank Special CD
Member FDIC.
APY: 3.00% Term: 61 Months Min. Deposit:  $5,000 or $10,000, depending on term
Member FDIC.
APY: up to 2.00% Term: 61 Months Min. Deposit:  $1,000
Read Review
Huntington Bank Standard CD
Member FDIC.
APY: 0.10% Term: 6 Year Min. Deposit:  $1,000
APY: 3.60% Term: 6 Year Min. Deposit:  $500
Read Review
APY: 3.40% Term: 7 Year Min. Deposit:  $0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

APY: 3.40% Term: 10 Year Min. Deposit:  $0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

Sorry, we didn't find any CDs that meet those criteria.

  • At Motley Fool Money, our certificates of deposit (CDs) ratings primarily focus on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.

    Motley Fool Money tracks just standard CDs, not IRA, bump up, callable, and other less popular CD accounts. CD rates displayed on this Best 1-Year CD Rates page are comprised of both the highest CD rates in Motley Fool Money's universe of tracked rates and featured placements from advertisers. Ordering within lists is influenced by advertiser compensation, including featured placements at the top of a given list.

    Learn more about how Motley Fool Money rates bank accounts.

A note from our head of product ratings, Robin Hartill, CFP®
Image of reviewer

The CD accounts we select maximize the earnings on your savings while providing security and predictability. Here's what we emphasize:

  • Competitive interest rates
  • Reasonable minimum deposit
  • Low fees and withdrawal penalties

These elements are critical to keeping your savings safe and compounding.

Reviews of the top 1-year CDs

Sallie Mae CD 1 Year (4.10% APY)

  • What we like about this 12-month CD: Sallie Mae CD rates are the most competitive on our list. If you're comfortable with online banking, you can easily manage your account from anywhere.
  • What you should know before opening an account: Sallie Mae CDs have a notably high minimum deposit requirement, so they might not be a fit if you're hoping to start small with CDs.

Read our full Sallie Mae CD review

Alliant CD 1 Year (4.50% APY)

  • What we like about this 12-month CD: Alliant CDs offer the chance to withdraw earned interest over time via a Dividend Withdrawal option. This means you can profit from your CD while it's still open.
  • What you should know before opening an account: Alliant CDs have a fairly high minimum deposit requirement. While many CD terms are available, it might be more difficult to build a CD ladder with Alliant due to this requirement.

Read our full Alliant CD review

Marcus by Goldman Sachs High Yield CD 1 year (4.10% APY)

  • What we like about this 12-month CD: You can deposit more money into a Marcus by Goldman Sachs High Yield CD for up to 30 days after opening your account. So if you end up with a last-minute windfall, you can earn even more interest with the same CD.
  • What you should know before opening an account: You'll need to open your account with at least $500. And Marcus by Goldman Sachs High Yield CDs offer nine terms, so they could be a good choice if you're building a CD ladder with a moderate amount of cash.

Read our full Marcus by Goldman Sachs High Yield CD review

Synchrony Online CD 1 Year (4.40% APY)

  • What we like about this 12-month CD: You can withdraw your earned interest monthly with a Synchrony Online CD. Plus, there's no minimum deposit requirement, so Synchrony Online CDs could be great for beginning CD savers.
  • What you should know before opening an account: Withdrawing interest from a Synchrony Online CD as you earn it will result in a lower yield from this CD than if you left your earnings in place to compound.

Read our full Synchrony Online CD review

Discover® Bank CD 1 Year (4.00% APY)

  • What we like about this 12-month CD: Discover® Bank is perhaps better known as a credit card issuer, but its CDs offer competitive terms and a fully online experience.
  • What you should know before opening an account: Discover has a very high minimum deposit requirement for its CDs. They might not be a fit if you're not able to tie up that much cash in a single CD.

Learn more on Discover® Bank's website

Quontic CD 1 Year (4.00% APY)

  • What we like about this 12-month CD: It's fast and easy to open a Quontic CD. The bank's website notes that it takes just three minutes, and you can open one with only $500.
  • What you should know before opening an account: Quontic has one of the harshest early withdrawal penalties we've seen. For a 1-year CD, you'll forfeit all your earned interest if you must close the account early.

Learn more on Quontic's website

LendingClub CD 1 Year (4.00% APY)

  • What we like about this 12-month CD: LendingClub's 1-year CD doesn't come with the highest rate available, but this bank is a well-rated institution with a focus on security -- your data is protected with 256-bit encryption.
  • What you should know before opening an account: LendingClub CDs come with a noticeably high minimum deposit requirement, so if you only have enough cash to open one, choose your term carefully for maximum interest.

Learn more on LendingClub's website

Barclays Online CD 1 Year (4.15% APY)

  • What we like about this 12-month CD: Barclays' 1-year CD comes with no minimum deposit requirement, so you could open this one with as little as $1.
  • What you should know before opening an account: Terms shorter than a year have the best terms available from Barclays. But the lack of minimum deposit requirement could make Barclays a great choice for CD laddering.

Learn more on Barclays' website

What is a 12-month CD?

A 12-month CD is a type of bank deposit account that requires the depositor to leave their money in their account for the entire 12 month maturity term. However, 12-month CDs also have guaranteed interest rates for an entire year, so even if interest rates fall, you'll still get the same rate of return.

Will 1-year CD rates increase in 2024?

Nobody knows for sure what CD rates will do in 2024, or at any point in the future. Plus, CD yields aren't directly tied to the benchmark interest rates set by the Federal Reserve, or to any other benchmarks.

Having said that, CD yields tend to move in the same direction as the federal funds rate. With the Fed widely expected to start cutting rates later in 2024, it's not particularly likely that CD rates will increase. In fact, the opposite (falling CD rates) are the more likely scenario.

Pros and cons of a 1-year CD

Opening a 12-month CD account can be a great investment. Unfortunately, it also has its drawbacks. Here are some pros and cons of opening a 12-month CD.

Pros

  • Higher rates: Banks usually give higher rates as a reward for leaving your money with them for fixed periods. That's why the best CD rates are typically higher than rates for traditional high-yield savings accounts.
  • Protection against interest rate drops: If market CD rates drop in the 12 months after you open a CD, you won't need to worry. Your money will continue to earn the same fixed interest rate that you started with. 
  • Predictable returns: Because CD rates are fixed, it's easy to calculate precisely how much you'll earn with a 12-month CD.

Cons

  • Fixed rates: Having a fixed rate also means you might miss out on extra earnings. If market CD rates jump up during your term, you'll be stuck with the same fixed rate. 
  • Penalties: There's always a risk in tying up money for a set amount of time. If you need to withdraw your money before your 12-month CD reaches maturity, you'll get hit with costly early withdrawal penalties.
  • Inflation risk: Although not as big of an issue with shorter CD terms, there's a chance your 12-month CD might not keep up with inflation. Opting for shorter CD terms may protect you from this.

Alternatives to a 12-month CD

Twelve-month CDs are a great way to earn a decent interest rate on savings that you won't need for at least the next year. However, they are not right for everybody. Here are some alternatives that may be a better fit.

High-yield savings accounts

These top high-yield savings accounts allow you to earn rates comparable to the best 12-month CD rates. Look for a savings account with a high APY that does not charge a monthly maintenance fee.

Money market accounts

The best money market accounts offer the perfect mix of savings and checking account features. With a money market account, you can earn high-yield interest and keep your money accessible. You may even get access to an ATM card or checks.

Long-term CDs

Most banks have CD terms ranging from a few months to five years. Some banks have options for 10-year rates, too. Usually (but not as of this writing), longer terms mean higher CD rates, but the biggest perk is that you'll lock in your interest rate for a longer period. Only sign up for a longer CD term if you won't need access to your money during the term.

Investments

You're more likely to earn a greater return over time by investing in stocks or a retirement fund instead of a 12-month CD. However, you'll need to leave your money untouched for several years before you see a high return. And remember: There's a considerable risk with stocks. Even the best CD rates may not be impressive compared to stock market returns, but they're far more reliable than the stock market.

Twelve-month CDs can be a great investment for short-term savings goals. The rates on these CDs are higher than on many other bank accounts, but they don't require the commitment of longer CD terms. Ultimately, it's up to you to determine if a CD is right for you. Take time to weigh your options before opening a CD.

To recap, the highest 1-year CD rates

Offer APY Min. Deposit
Discover® Bank CD

On Discover Bank's Secure Website.

4.00% - 1 Yr. $0
Barclays Online CD

On Barclays' Secure Website.

4.15% - 1 Yr. $0
Quontic CD

On Quontic's Secure Website.

4.00% - 1 Yr. $500
LendingClub CD

On LendingClub's Secure Website.

4.00% - 1 Yr. $2,500
4.10% - 1 Yr. $500
4.40% - 1 Yr. $0
4.10% - 1 Yr. $2,500
4.50% - 1 Yr. $1,000
APY = Annual Percentage Yield

Other CD term lengths to consider

Banks we monitor

  • Alliant, Ally, All America Bank, American First Credit Union, American Express National Bank, Arvest Bank, Aspiration, Axos Bank, B2 Bank, Bank of America, Bank5 Connect, Bank7, Barclays, Bask Bank, Betterment, Bluevine, BMO Bank, Bread Financial, Capital One, Carver Federal Savings Bank, Charles Schwab Bank, Chase, Chime, CIT, Citibank, Citizens, Citizens Savings Bank, Columbia Bank, Connexus Credit Union, Consumers Credit Union, Copper, Cross River Bank, Customers Bank, Discover® Bank, E*TRADEEdward Jones, EverBank, Fidelity, Fifth Third Bank, First Foundation Bank, First Internet Bank of Indiana, First National Bank, First Tech Federal Credit Union, Flushing Bank, Freedom Bank, Generations Bank, GN Bank, Golden 1 Credit Union, Greenlight, Harborstone Credit Union, HSBC, Huntington Bank, Ivella, Jenius Bank, Kabbage by American Express, KeyBank, Laurel Road, LendingClub, Liberty Bank, Liberty Federal Credit Union, Marcus by Goldman Sachs, Mercury, Municipal Credit Union, Mutual of Omaha, My Banking Direct, NASA Federal Credit Union, Nationwide Bank, Navy Federal Credit Union, NBKC Bank, New York Community Bank, NexBank, Northpointe Bank, Novo, OceanFirst Bank, Old National Bank, ONE Finance, OneUnited Bank, Oxygen, Pacific Western Bank, PNC Bank, Ponce Bank, Popular Direct, Presidential Bank, Prime Alliance Bank, Quontic, Radius, Raisin, Redneck Bank, Regions Bank, Relay, Republic Bank of Chicago, Revolut, Salem Five Bank, Sallie Mae, Santander Bank, SchoolsFirst Federal Credit Union, Simple, SoFi®, Synchrony Bank, TAB Bank, TD Bank, Third Federal, Truist Bank, U.S. Bank, UFB, Upgrade, USAA, Valley Bank, Vanguard, Varo Bank, Vio Bank, Wealthfront, Wells Fargo, Western Alliance Bank, and Zeta.

FAQs

  • A 12-month CD is right for people who want to earn guaranteed high-yield interest and don't need access to their money for the next year.

  • You might want a 12-month CD because they typically offer better rates than CDs with shorter terms. They also tie up your money for less time than, say, a 5-year CD. If you know you can put away some money for a year and won't need to access it during that time, a 12-month CD could be a good bet.

  • A 12-month CD is worth it if you don't need access to your money for the next year, because it will usually earn more in interest with a CD than it would earn while sitting in a savings account.

  • A 1-year CD is a deposit account that has a fixed interest rate (APY) for one year, and requires the depositor to leave the money in the account for the entire term.