4.38% APY
5 years
N/A
$1,000
NASA Federal Credit Union stands out as the top choice because it offers a competitive 5-year CD rate of 4.38% APY, making it an attractive option for savers looking to maximize their returns over a longer term.
Pros:
- High yield
- Flexible terms
Cons:
- Minimum deposit required
- Limited promotional offers
4.35% APY
5 years
N/A
$2,500
What sets Sallie Mae Bank apart is its consistent offering of a 4.35% APY on its 5-year CD, which provides a reliable option for those looking to secure their savings with a reputable institution.
Pros:
- Competitive APY
- Multiple term options
Cons:
- Higher minimum deposit
- Limited promotional rates
3.TAB Bank
4.20% APY
5 years
N/A
$1,000
TAB Bank shines for its straightforward approach to savings, offering a solid 4.20% APY on its 5-year CD with daily compounding interest, making it a dependable choice for long-term savers.
Pros:
- Daily compounding interest
- FDIC insured
Cons:
- Lower APY compared to competitors
- Minimum deposit required
4.40% APY
5 years
N/A
$500
A key differentiator for BTG Pactual Bank is its attractive 4.40% APY on a 5-year CD with a low minimum deposit of just $500, making it an appealing option for new savers looking to enter the market.
Pros:
- Low minimum deposit
- Competitive APY
Cons:
- Limited branch access
- Less known in the U.S. market
Final Words
In conclusion, as you explore the best 5-year CD rates in the U.S. this September, consider options from top providers like NASA Federal Credit Union, which offers competitive rates around 4.38% APY. Remember to compare different institutions to find the best fit for your financial goals and maximize your returns.
Frequently Asked Questions
NASA Federal Credit Union offers a 5-year CD rate of 4.38% APY with a minimum deposit of $1,000.
Sallie Mae Bank offers a 5-year CD rate of 4.35% APY, requiring a minimum deposit of $2,500, making it one of the top options available.
TAB Bank offers a 5-year CD rate of 4.20% APY with a minimum deposit of $1,000.
A Certificate of Deposit (CD) is a savings account that holds a fixed amount of money for a fixed period of time, earning interest at a specified rate.
Penalties for early withdrawal of a CD vary by provider but typically involve forfeiting some or all of the interest earned, and in some cases, a portion of the principal.
To calculate your earnings on a 5-year CD, you can use the formula: Earnings = Principal x (1 + APY)^Term - Principal. This will give you the total interest earned over the term.
At maturity, you can either withdraw your funds along with the earned interest or reinvest in a new CD, often at the current interest rates.
Yes, CDs are typically insured by the FDIC (for banks) or NCUA (for credit unions) up to $250,000 per depositor, making them a safe investment option.
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