We analyze online CDs in the U.S. to uncover which have the best earnings, benefits, and the lowest fees. Learn more about our methodology here. Bank awards methodology

1. Best Flexible High-Rate CD

Ally Bank 2-Year Raise Your Rate CD

A+ MyBankTracker Rating

Protect yourself against rising interest rates.

Best Feature: One-time opportunity to increase your CD rate

Ally Bank Logo

With the Ally Bank 2-Year Raise Your Rate CD, you’ll earn a strong APY with a one-time option to increase your rate if interest rates start to rise. It doesn’t have a minimum deposit amount and the early withdrawal penalty is only 60 days worth of interest.

  • Earn

    Earn a high APY on a 2-year CD term

  • Fees

    Early withdrawal penalty of 60 days worth of interest

  • Benefits

    One-time opportunity to increase your interest rate

    Mobile app available on the Apple App Store and Google Play

2. Best Increase Your Deposit and Rate CD

CIT Bank 2-Year RampUp Plus CD

B+ MyBankTracker Rating

Maximize your savings when interest rates are rising.

Best Feature: Ability to increase the CD deposit and CD rate.

CIT Bank Logo

CIT Bank wins with its 2-Year RampUp Plus CD. This CD is ideal for someone who wants to make the most of their savings amid a time when interest rates are changing. You can increase your rate once and/or increase your deposit - all with a decent starting APY. There is a $25,000 minimum deposit.

  • Earn

    Earn a high APY on a 2-year CD term with a $25,000 deposit

  • Fees

    Early withdrawal penalty of 6 months worth of interest

  • Benefits

    One-time option to adjust your interest rate and a one-time option to increase your deposit during the CD term

    Mobile app available on the Apple App Store and Google Play

3. Best No-Penalty CD

Ally Bank 11-Month No Penalty CD

A+ MyBankTracker Rating

Freedom to access your money whenever you want.

Best Feature: No early withdrawal penalty

Ally Bank Logo

Ally Bank’s 11-month No Penalty CD wins thanks to its flexibility. This CD doesn’t charge a penalty if you need to cash out early. The rate on the CD varies depending on your balance and it can beat some of the top savings accounts.

  • Earn

    Earn a high APY on an 11-month CD term

  • Fees

    No early withdrawal penalty

  • Benefits

    Ability to fund your CD with mobile check deposit

    Mobile app available on the Apple App Store and Google Play

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