It also won't be the best choice if you want to do all your banking at one institution because you can't open checking accounts. Raisin may be appealing if you'd like to open a CD with a low minimum opening deposit. Raisin is an online marketplace with savings accounts, money market accounts, and CDs from different financial institutions. The Greenwood Credit Union 1 Year No-Penalty CD offers one the highest no-penalty CD rates at Raisin. Greenwood Credit Union 1 Year No-Penalty CD Penalties: The early withdrawal penalty for the 8-month CD special is 90 days of interest. Term options: Financial Partners Credit Union also has terms ranging from 3 months to 5 years. This offering is also only for new members. This promotional CD has specific opening requirements: You must deposit at least $1,000 but no more than $5,000. Membership is open to anyone who lives, works, or goes to school in select areas in Southern California (Los Angeles County, Orange County, Riverside County, San Diego County, the City of South San Francisco, or Alameda) or works for a select employer group. You can earn 6.50% APY on an 8-month CD if you qualify for membership at the credit union. The Financial Partners Credit Union 8-Month Certificate Special pays the highest CD rate overall. Financial Partners Credit Union 8-Month CD Special When a financial institution is FDIC- or NCUA-insured, up to $250,000 per depositor, per account category is secure in a bank account. Bear in mind money is safe at a federally insured financial institution.

Our top picks for CDs are protected by federal insurance.

Also, make sure you know what steps you need to take once your CD term ends. Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.ĬDs aren't as accessible as other types of savings accounts, so keep in mind how long you can keep money in the account without potentially facing early withdrawal penalties.

Best cd interest rates 2018