Online financial institutions tend to have the best 2-year CD rates. These banks and credit unions can offer rates far above the average APY (Annual Percentage Yield) on a 2-year CD, which is 1.45% APY.
The best 2-year CD rate available nationwide is 4.40% APY from both Credit Human Federal Credit Union and USALLIANCE Financial.
At Business Insider, we monitor national banks and credit unions daily to find the best 2-year CD rates currently offered. Now's a good time to open CD; the Federal Reserve held interest rates steady at its last meeting, but it might lower rates in the future.
If you're also interested in other CD terms, check out our overall best CD rates.
Featured Nationally Available Deposit Rates
| Account Name | APYs (Annual Percentage Yields) are accurate as of 03/04/2025 | Minimum Account Opening Balance |
| Ponce Bank 3 Month CD, powered by Raisin | 4.20% | $1 |
| Barclays 6 Month Online CD | 3.80% | $0 |
| LendingClub 10 Month CD | 4.45% | $2,500 |
| Sallie Mae 14 Month No-Penalty CD | 3.95% | $1 |
| Discover 18 Month CD | 4.00% | $0 |
| Bread Savings 2 Year High-Yield CD | 4.00% | $1,500 |
| Axos ONE Savings and Checking Bundle | up to 4.86%* | $0 |
The Best 2-Year CDs
- Credit Human 2 Year Share Certificate: 4.40% APY
- USALLIANCE Financial 2 Year Certificate: 4.40% APY
- Lafayette Federal Credit Union 2 Year Certificate: 4.28% APY
- TotalBank 2 Year CD: 4.21% APY
- Dow Credit Union 2 Year Simple CD: 4.20% APY
- Newtek Bank 2 Year CD: 4.20% APY
- First National Bank of America 2 Year CD: 4.20% APY
- Popular Direct 2 Year CD: 4.15% APY
- America First Credit Union 2 Year Certificate: 4.15% APY
- TAB Bank 2 Year CD: 4.06% APY
Calculate Your Estimated 2-Year CD Earnings
Compare the Best 2-Year CDs
Our top picks for 2-year CDs include some online banks and credit unions. The online banks and credit unions we've listed have competitive rates that are available nationwide.
We check rates daily to find the best 2-year CD rates today. Read below for our top picks to compare 2-year CD rates.
Two-Year CD Reviews
Choosing a CD term will likely depend on the timeline of your goals. A 2-year CD might be a good choice if you can keep money in an account for at least two years.
These are our picks for the best 2-year CD rates. Our top picks for CDs are protected by FDIC or NCUA insurance. If you are worried about a bank failing, keep in mind money is safe at a federally insured financial institution. When a financial institution is federally insured, up to $250,000 per depositor is secure in a bank account.
Credit Human 2 Year Share Certificate
Credit Human Federal Credit Union has competitive CD rates overall, especially on its 2-year term.
You must become a credit union member before opening a share certificate. You may join Credit Human from anywhere in the U.S. if you become a member of the American Consumer Council. Credit Human also has other ways to become a member: You'll be eligible to join if you live in a service area in San Antonio, Texas, or New Orleans, Louisiana, or if you work for a partner employer or organization.
APY for 2-year CD: 4.40% APY
2-year CD early withdrawal penalty: $50 or 270 days of interest (whichever is greater)
USALLIANCE Financial 2 Year Certificate
A 2-year USALLIANCE Financial certificate is a solid choice if you want a share certificate from a credit union. It pays a high 2-year CD rate and has a low minimum opening deposit.
You can join USALLIANCE Financial if you 1) live in a select area in Massachusetts, Connecticut, New Jersey, or New York, 2) work for a select employment group, or 3) become a member of the American Consumer Council, Arco of Westchester, Tread Lightly!, or the Council of Community Services.
The early withdrawal penalties at USALLIANCE Financial are a bit higher than other financial institutions. You can also only open a CD if you qualify for membership at the credit union.
APY for 2-year CD: 4.40% APY
2-year CD early withdrawal penalty: 360 days of interest
Lafayette Federal Credit Union 2 Year Certificate
Lafayette Federal Credit Union pays a competitive interest rate on a 2-year term. It also has good interest rates on its 5-year CD.
Lafayette Federal Credit Union is a credit union anyone can join regardless of where you live in the United States by becoming a member of the Home Ownership Financial Literacy Council. You're also eligible for membership if you live, work, or worship in Potomac, Maryland, or parts of Washington, DC; work at a Select Employer Group; become a member of the American Consumer Council and live in Maryland, Virginia, or Washington, DC, or have a family member with credit union membership.
APY for 2-year CD: 4.28% APY
2-year CD early withdrawal penalty: 270 days of interest
TotalBank 2 Year CD
TotalBank offers strong rates on 2-year CDs. It also pays high rates its short-term CDs. If you're hoping to open multiple CDs with the same bank, TotalBank might be a good choice for you.
That being said, TotalBank has a very high minimum opening deposit of $25,000. Many CDs offer a lower minimum opening deposit if you want to open a CD with less money.
APY for 2-year CD: 4.21% APY
2-year CD early withdrawal penalty: 6 months of interest
Dow Credit Union 2 Year Simple CD
Dow Credit Union offers a competitive interest rate on a 2-year CD and various other terms, including the best 3-year CD rates and 5-year CD rates.
To open a CD at Dow Credit Union you have to qualify for membership. The easiest way to become a member of Dow Credit Union is to make a $10 donation to the Midland Area Community Foundation. The credit union also has other ways to join, such as being part of a Select Employer Group or having a family member who is a current credit union member.
APY for 2-year CD: 4.20% APY
2-year CD early withdrawal penalty: 180 days of interest
Newtek Bank 2 Year CD
Newtek Bank pays high CD rates for 2-year terms. It also offers one of the best 18-month CD rates, so it could be a good choice if you're interested in opening multiple CDs.
It charges standard early withdrawal penalties for these terms. However, you'll need at least $2,500 to open a CD with Newtek. Other banks have more lenient opening requirements for CDs.
APY for 2-year CD: 4.20% APY
2-year CD early withdrawal penalty: 180 days of simple interest
First National Bank of America 2 Year CD
First National Bank of America offers a good rate for its 2-year CD. It also has CDs with term lengths up to 10 years; most banks only offer CDs with term lengths up to five years. If you need to open a long-term CD, First National Bank of America might be a good choice for you.
First National Bank of America has high early withdrawal penalties for its 2-year CD. If you think there's a chance you'll need to withdraw money from your CD before the end of its term length, you might want to go with another bank.
APY for 2-year CD: 4.20% APY
2-year CD early withdrawal penalty: 360 days of interest
First National Bank of America Review
Popular Direct 2 Year CD
Popular Direct is one of the best banks for 2-year CD rates. It's an online-only financial institution, so it might be a good choice if you are comfortable with online and mobile banking.
However, you need at least $10,000 to open a CD. If you'd rather open a CD with less money, one of our other top picks are likely more suitable.
APY for 2-year CD: 4.15% APY
2-year CD early withdrawal penalty: 270 days of simple interest
America First Credit Union 2 Year Certificate
America First Credit Union offers one of the best rates for a 1-year CD along with its great 2-year CD. The America First Credit Union Certificate may be worthwhile if you're searching for a financial institution with branches in Arizona, Idaho, Nevada, New Mexico, Oregon, and Utah. America First Credit Union has a variety of terms with high interest rates.
Credit unions require membership to open bank accounts. You may join America First Credit Union if you live, work, worship, or volunteer in an Arizona, Idaho, Nevada, New Mexico, Oregon, or Utah county on this list. If you have a family member or spouse who's a current member, you're also eligible.
To become a member, you must also open an America First Credit Union Share Savings Account.
America First Credit Union has an A+ rating from the BBB.
APY for a 2-year term: 4.15% APY
2-year CD early withdrawal penalty: 180 days of interest
America First Credit Union Review
TAB Bank 2 Year CD
A TAB Bank CD is a great option if you're searching for a high rate on a 2-year term.
Other banks have lower minimum opening deposit requirements, so if that's important to you, consider one of our other top picks.
APY for 2-year CD: 4.06% APY
2-year CD early withdrawal penalty: 180 days of interest
Bank Trustworthiness and BBB Ratings
We review the ethics of each company so you can see if a specific financial institution aligns with your values.
We've compared each bank's Better Business Bureau score. The BBB grades businesses based on factors like responses to customer complaints, honesty in advertising, and transparency about business practices. A good BBB rating doesn't necessarily mean that your relationship with the bank will be perfect.
We also include the settlement history of the last three years so you're aware of any recent public controversies involving the bank.
Here is each company's score:
| Institution | BBB grade |
| Credit Human | A- |
| USALLIANCE Financial | D- |
| TotalBank | A- |
| Dow Credit Union | C+ |
| Newtek Bank | A+ |
| First National Bank of America | A+ |
| Popular Direct | A+ |
| America First Credit Union | A+ |
| Lafayette Federal Credit Union | A+ |
| TAB Bank | A+ |
Credit Human has an A- rating from the BBB because of a few unresolved complaints.
USALLIANCE Financial has a D- rating from the BBB due to several complaints it hasn't responded to.
TotalBank has an A- rating from the BBB because it hasn't responded to a few complaints filed against the business.
Dow Credit Union has a C+ rating from the BBB because it hasn't responded to a customer complaint.
In 2023, the Federal Reserve Board fined Popular Direct's parent bank, Popular Bank, $2.3 million. The Federal Reserve Board said the fine was because Popular Bank processed six Paycheck Protection Program loans that had significant signs of potential fraud.
In 2022, TAB bank entered an Assurance of Discontinuance with the State of Iowa. According to the settlement, the State of Iowa said TAB Bank charged Iowa residents more than the permitted maximum APR for consumer installment loans. The bank has stopped making consumer installment loans to Iowa residents and can resume if they provide a 30-day notice to the state and follow the state code.
What Influences the Best 2-Year CD Rates
Economic Conditions
Banks and credit unions have to respond to market fluctuations when setting their rates. For example, if rates are rising, banks will have to raise their rates as well in order to stay competitive. And when rates lower, banks can lower their own rates and still make a profit.
Fed Actions and Interest Rate Outlook
If you're wondering what the Federal Reserve is, also called "the Fed," it's the central banking system of the U.S. Multiple times a year, the Fed meets to set its own interest rates. When it announces the changes it makes, most financial institutions follow suit.
Individual Institution Rates
What rate you can get differs from bank to bank and credit union to credit union. The worst banks for CDs will offer rates as low as 0.01%, while the best banks for CDs can go over 5% annual percentage yield. When shopping for 2-year CDs, make sure to compare banks' rates and look for 2-year CD specials.
Should You Invest in a 2-Year CD?
Whether you should invest in a 2-year CD or not largely depends on what you're hoping to get from a CD. If you're purely interested in the highest interest rate, short-term CDs are offering better rates than long-term CDs right now.
If you're interested in locking in a high rate for a while without committing to a 5-year CD, a 2-year CD might be a good choice for you. You also might like a 2-year CD if you're saving up for something that you know will happen in two years, such as if you're planning on buying a house in two years.
2-Year CD FAQs
The best 2-year CD rate available around the U.S. is 4.40% APY at both Credit Human Federal Credit Union and USALLIANCE Financial.
A 2-year CD is worth it if you have a specific savings goal with a timeframe of 2 years and you do not need immediate access to your money. Some 2-year CD rates are as high as 4.40% APY. Keep in mind that traditional CDs and variable-rate CDs do not allow additional deposits and involve a penalty if you take out any money before a CD term ends.
A 2-year traditional CD is a savings vehicle offered by banks and credit unions that typically pays a fixed rate over time. You cannot access your money before the 24 months is up without paying a penalty. You have the option to renew your CD at the end of the 2-year period, or close the account and pocket the money.
Reading about the CD rate forecast for 2025 can help you keep an eye on how 2-year CD rates are trending.
While high rates are important when choosing 2-year CDs, it's likely you'll want to consider other factors as well, such as minimum opening deposits, early withdrawal penalties, and limits on how much you can earn.
Why You Should Trust Us: Experts' Advice on Choosing the Best 2-Year CD
We consulted four banking and financial planning experts to inform these picks and provide their advice on finding the best place to keep your money.
- Tania Brown, CFP® professional and vice president of coaching strategy at OfColor
- Sophia Acevedo, banking editor, Business Insider
- Roger Ma, CFP® professional and author of "Work Your Money, Not Your Life"
- Mykail James, MBA, certified financial education instructor, BoujieBudgets.com
Here's their insight about CDs.
How can someone choose between all of the available banks and credit unions?
First of all, you want a bank that is FDIC-insured (or a credit union that is NCUA-insured). Then, consider your own priorities: Are you looking for an in-person banking experience? Do you need a high-tech mobile app? Do you write checks? Are you looking for a high interest rate? Will you meet the requirements to waive any monthly maintenance fees?
There are plenty of banks and credit unions that offer good rates and useful products, but the best one for you will come down to how it fits your needs.
How should you choose a term length for a CD?
When you put money in a CD, you want to have two things: a plan for how you will use that money, and a timeline for when you'll do it. Once you know when you'll spend it, take a look at rates for terms that are near your planned timeline, and choose the CD with the best rate.
When you can put money in high-yield savings account, money market account, or CD, how do you choose between them?
While all three options pay somewhat similar rates, the difference comes down to how you plan to interact with that money over time. If you need access to it in the next few months or years, that means you can't use a CD (or at least not one that spans however many months or years). Money market accounts tend to offer more account accessibility — several offer paper checks, ATM cards, or debit cards — while high-yield savings accounts are a good place to leave your money alone, knowing you can access it if needed.
Methodology: How We Selected the Best 2-Year CDs
At Business Insider, we aim to create helpful reviews, guides, and explainers so that you can make smart money decisions. We know that every person has distinct preferences, so we provide ample options to help you find the best match for you.
Our team is editorially independent — our business team does not decide how we cover products or what we write about. Our editorial standards page dives into how we review and choose products.
Business Insider's personal finance team researched over 60 banks and credit unions that offered the best 2-year CD rates. Then, we reviewed each institution to find the most well-rounded banking options.
For each account, we compared the minimum opening deposits, early withdrawal penalties, miscellaneous features, and interest rates. We also considered the overall banking experience at each bank by assessing customer support availability, mobile app ratings, security, and ethics.
Using bank account methodology we score each of these features from 0 to 5, although some features have a larger weight percentage than others. We add up these scores and calculate the weighted average to determine the account's total rating.
All our bank accounts have a scale of one to five stars. A one-star rating is a low score. It shows the product needs significant improvement. A five-star rating is the highest rating possible. It indicates the product is a superior choice.
*Axos ONE Savings and Checking Bundle: Earn 4.86% APY on your savings account balance and 0.51% APY on yoaur checking account balance by getting at least $1,500 in monthly direct deposits by the 25th of each month and by maintaining an average daily balance of $1,500. If you don't meet those requirements, you'll earn 1.00% APY on savings account balances and no interest on checking account balances.
**LendingClub LevelUp Savings Account: Earn 4.50% APY when you deposit at least $250 per month, earn 3.50% standard APY if minimum isn't met.
***CIT Bank Platinum Savings: Transfer a one-time deposit of $50,000+ for a Bonus of $300 or a one-time deposit of $25,000 -$49,999.99 for a Bonus of $225
****SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.