The best 2-year CD rates for December 2021


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*As of December 2021, the national average APY on a 2-year CD is 0.17%, according to the FDIC.

2-year CD rates at the largest US banks

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Citibank Citibank Fixed Rate Certificates of Deposit (CDs)

Capital One
Capital One Capital One 360 CDs®

PNC Bank
0.01% to 0.03%
PNC Bank PNC Fixed Rate Certificate of Deposit

TD Bank
TD Bank TD Bank Choice Promotional Certificate of Deposit

Bank of America
Bank of America Bank of America Standard Term Certificate of Deposit

Chase Bank
0.01% to 0.05%
Chase Chase Certificate of Deposit (CD)

US Bank
US Bank US Bank Certificate of Deposit

Charles Schwab Bank
Charles Schwab Bank Charles Schwab Bank Certificate of Deposit

If you want to grow your money but keep it safe from the turbulence of the stock market, a certificate of deposit (CD) may be a good option

Right now, the best 2-year CD rates are at least 0.60%. You can snag a higher APY with longer CD terms, but 2-year CDs have their perks.

You’ll likely earn a higher APY on a 2-year CD than with a 1-year CD, and you won’t have to part with your money for as long as you would with a longer term. Two-year terms provide a nice balance of a good rate and a relatively short length of time.

Learn more about our top picks

Why it stands out: A Raise Your Rate CD allows you to increase your APY once during a 2-year term should Ally’s rates go up. Ally doesn’t require a minimum deposit, and it charges low early withdrawal penalties.

2-year CD early withdrawal penalty: 60 days interest

What to look out for: Other types of CDs. The Raise Your Rate CD is the only Ally CD with a 2-year term. But Ally also offers regular term CDs and no-penalty CDs, so consider whether you’d prefer one of those types rather than a Raise Your Rate CD.

Why it stands out: Delta Community Credit Union pays competitive rates, and if you need to withdraw funds before your CD matures, its penalties are lower than what most institutions charge. 

2-year CD early withdrawal penalty: 180 days interest

What to look out for: …read more

Source:: Business Insider

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