Top 10 Promotional CD Rates Listed on MonitorBankRates.com: Best CD Rate at 6.00%

Looking to grow your savings with CD rates more than 10x the national average CD rates? Here's a list of the top 10 promotional CD (Certificate of Deposit) listed in our database of promotional CD rates. You can search for and compare CD rates from banks and credit unions, we monitor all banks and credit unions to find the best rates available.

Best of the Best: Connex Credit Union at 6.00%

Connex Credit Union offers an unbeatable 6.00% APY on their 11-Month CD Special. You'll need at least $500 to open this account.

Top 10 Promotional CD Rates

Connex Credit Union
11-Month CD Special 6.00%
$500 minimum deposit

BluPeak Credit Union
9-Month CD Promo Special 5.75%
$1,000 minimum deposit

GreenState Credit Union
14-Month Jumbo CD Special 5.60%
$100,000 minimum deposit

GreenState Credit Union
14-Month CD Special 5.50%
$1,000 minimum deposit

FinWise Bank
15-Month CD Special 5.50%
$500 minimum deposit

Needham Bank
11-Month CD Special 5.40%
$1,000 minimum deposit

CIBC
13-Month CD in Branch Special 5.36%
$1,000 minimum deposit

North American Savings Bank (NASB)
8-Month CD Special 5.34%
$1,000 minimum deposit

Langley FCU
13-Month CD Special 5.30%
$500 minimum deposit

Navy Federal Credit Union
12-Month Certificate Special EasyStart 5.30%
$50 minimum deposit

What to Consider When Choosing a CD

Before you dive in, it's crucial to consider the account features that matter most to you. If you need flexibility, opt for a CD with a shorter term. If you’re comfortable locking away a large sum, you could benefit from higher rates in jumbo CDs. The minimum deposit amounts vary widely, from just $10 with Betterment to a hefty $100,000 with GreenState Credit Union's jumbo offer.

Importance of Understanding Early Withdrawal Penalties

Most CDs have penalties for early withdrawals. These penalties can eat into your interest earnings, and in some cases, even dip into your principal amount. Be certain that you can commit to the full term before opening the CD to maximize your returns.

How Interest is Compounded

One more thing to look out for is how often the interest is compounded. The more frequently it is compounded, the more money you’ll make in the long run.

When selecting a promotional CD, consider both the annual percentage yield (APY) and the account terms. Read the fine print to understand any penalties for early withdrawal and ensure the terms align with your financial goals. You can also compare CD rates for certificate of deposit terms ranging from 3-months to 12-months at MonitorBankRates.com.