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Compare 5-year CD rates: We track the highest paying, nationally available 5-year CDs from federally insured banks and credit unions. Below we list the 60-month CDs in our database, ordered from highest APY to lowest.
Note that you may be able to find better rates with alternative account types. For example, online savings accounts or no-penalty CDs may offer higher yields.
Featured CDs
Bank/Credit Union
Min. Deposit
APY
Learn More
3-month APY 5.21%
6-month APY 5.41%
12-month APY 5.51%
12-month APY 5.00%
18-month APY 5.00%
24-month APY 4.30%
3-month APY 5.40%
6-month APY 4.00%
9-month APY 5.50%
13-month APY 4.65%
18-month APY 4.60%
24-month APY 0.40%
6-month APY 5.05%
12-month APY 5.30%
24-month APY 4.50%
5-month APY 5.40%
12-month APY 4.20%
15-month APY 4.50%
14-month APY 5.40%
10-month APY 5.30%
No-penalty | 3-Month | 6-Month | 1-Year | 2-year | 3-year | 4-year | 5-year
5-Year Certificate of Deposit Rates
103 Results
5-Year Mega Saver Share Certificate with One-time Bump
4.20%
$100,000
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**Rates for brokered CDs can change daily. While we aim to have the latest rates for these CDs on our site, be sure to check the brokerage site to confirm rates.
Creating a 5-Year CD Ladder
There are two primary reasons people shy away from a 5-year CD term.
- What happens if interest rates go higher?
- What happens if you need money in an emergency?
Five years is a long time to tuck your money away at a 2.35% APY and a lot can happen in that time. For example, just in the last few years I’ve bought a house, got married, had two children etc. Each of those times, I had liquid assets to assist in paying for all of it. Had I put a lot of money away in a 5-year CD, I’m not sure I could have navigated those expenses.
The best way to mitigate these downsides is to create a CD ladder. The concept is quite simple actually; to sacrifice a small amount of interest, you can keep your funds much more liquid. For example, let’s assume you have $25,000 to invest in a 5-year CD at a 2.35% interest rate (this is just an example rate). Instead of plugging all $25,000 in at once, you decide to invest in five separate 5-year CD’s.
- Year one–$5,000 CD at 2.35% APY
- Year two–$5,000 CD at 2.45% APY
- Year three–$5,000 CD at 2.30% APY
- Year four–$5,000 CD at 2.20% APY
- Year five–$5,000 CD at 2.50% APY
It’s rare for a CD rate to stay static for five years, so I’ve created a little bit of fluctuation.
Losing Interest in a 5-Year CD
During the five years you’re investing in long-term CDs, you still maintain liquidity if you need it. What happens if your roof starts leaking in 24 months? Well, in the above scenario, you still have $15,000 available because you’ve only opened two 5-year CD’s at $5,000 a piece. After five years and your first CD matures, you’ll have ~$5,615 back in your hands. You can choose to once again open another 5-year CD, or simply keep the funds available.
However, creating a CD ladder means you’re sacrificing interest. Had you put the whole $25,000 into a 5-year CD term, the end result would be a mature CD and a balance of $$28,079. By laddering, after five years, you’ll only have generated ~$1,800 in interest and to earn the remaining ~$1,200, you’ll have to wait for your other four 5-year CD’s to mature. Keep in mind of that while you’re waiting to open a CD for your ladder, you can park your money in a high-yield savings account. So while you won’t be earning the same interest you can on a 5-year CD, you will still be earning up to 1.40% APY.