Top 10 High-Yield Certificate of Deposit (CD) Offers of 2018

Explore the top 10 high-yield CD offers of 2018, featuring competitive APYs from leading banks and credit unions. This comprehensive guide provides insights into the best savings options, minimum deposit requirements, and key benefits of investing in CDs. Whether you're a cautious saver or looking to maximize returns, find out how to choose the right CD to suit your financial goals and secure reliable, fixed interest income.

Best High-Interest Certificate of Deposit (CD) Promotions in 2018

In today’s financial landscape, choosing the right savings product to grow your wealth is essential. One of the most secure and reliable options available to savers is the Certificate of Deposit (CD). Offering fixed interest rates over a specified period, CDs are ideal for individuals seeking stability and predictable returns. Unlike traditional savings accounts, CDs typically offer higher interest rates, making them a popular choice for those looking to maximize their savings without taking on significant risk. This comprehensive guide highlights the top 10 high-yield CD offers from 2018, helping investors identify the best options to enhance their financial growth.

What is a Certificate of Deposit (CD)?

A Certificate of Deposit is a deposit product offered primarily by banks and credit unions. When you purchase a CD, you agree to deposit a fixed amount of money for a predetermined period, which can range from a few months to several years. In return, the financial institution commits to paying you a fixed interest rate throughout the term. This makes CDs an attractive, low-risk savings vehicle, especially for conservative investors or for specific savings goals such as education, retirement, or emergency funds.

One of the key benefits of CDs is their predictability. The interest rate is locked in when you purchase the CD, providing certainty about your returns. Moreover, CDs are insured up to applicable limits by the FDIC or NCUA, providing additional security for your funds. However, early withdrawal generally incurs penalties, so it’s important to choose a term that aligns with your financial plans.

In 2018, the market saw a variety of high-yield CD offers from reputable banks and credit unions. These offers provided attractive APYs (Annual Percentage Yields) designed to appeal to savers seeking competitive returns beyond standard savings accounts. Below, we explore the most notable CD offers this year, along with key details such as minimum deposit requirements and the structure of interest rates.

1. Marcus by Goldman Sachs®

As a prominent online bank, Marcus provides highly competitive rates on its 1-year and 5-year CDs, making it a top pick for investors looking for steady growth. The 1-year CD offers an APY of 2.55%, while the 5-year CD yields an impressive 3.10%. The minimum deposit is $500, making it accessible for many savers. Marcus’s straightforward online platform ensures a hassle-free process for opening and managing your CD, appealing especially to tech-savvy investors aiming to maximize returns with minimal effort.

2. Citizens Access

Living up to its reputation as a digital banking innovator, Citizens Access offers competitive CD deals in 2018. The 1-year CD has an APY of 2.50%, while the 5-year option boasts a 3.10% APY. A minimum deposit of $5,000 is required, which might be suitable for serious savers looking for higher returns over time. Citizens Access provides a seamless digital experience, making account management simple and accessible for users who prefer online banking.

3. Capital One 360

This well-known financial institution offers flexible CD options, with a 1-year term at 2.50% APY and a 5-year term at 3%. One notable advantage of Capital One 360 is the absence of a minimum deposit requirement, enabling more people to participate regardless of their initial savings amount. Their user-friendly platform and transparent fee structure make Capital One a popular choice for casual savers and seasoned investors alike.

4. Synchrony Bank

Known for its online banking services, Synchrony Bank provides a 1-year CD with an APY of 2.45% and a 5-year option yielding 3%. A minimum deposit of $2,000 is necessary to open these accounts. Synchrony’s competitive rates and flexible terms have made it a favorite among high-yield seekers who prefer to manage their investments online, ensuring quick access and straightforward account management.

5. PenFed Credit Union

Offering some of the most competitive rates in the market, PenFed Credit Union’s CDs feature a 1-year APY of 2.45% and a 5-year APY of 3%. The minimum deposit to qualify for these rates is only $1,000, making it accessible to a wider pool of investors. PenFed is known for its customer-focused service, and its CD offerings are designed to attract both new and existing members looking for safe, high-yield savings options.

6. Barclays

This internationally recognized bank offers a streamlined online CD product range. In 2018, Barclays’ 1-year CD offers an APY of 2.45%, with a 5-year online-only CD at 3%. There is no minimum deposit requirement, making it highly accessible. Barclays’s focus on digital banking ensures quick setup and management, appealing to tech-oriented investors seeking reputable, high-yield deposit options.

7. TIAA Bank

With a strong reputation in the financial sector, TIAA Bank’s high-yield CDs include a 5-year APY of 3.05% and a 1-year APY of 1.65%. The minimum deposit for these products is $5,000. TIAA specializes in serving professionals and educators, providing tailored savings solutions with attractive rates. Their streamlined account services and focus on customer support make them a noteworthy choice for long-term planning.

8. Connexus Credit Union

This credit union offers competitive CD rates, with a 2.50% APY for a one-year term and a 3.25% APY for five years. The minimum deposit is $5,000. Connexus emphasizes personalized service and member benefits, making their CD products an attractive option for those seeking higher yields within a community-focused institution.

9. Ally Bank

An all-digital bank, Ally offers a flexible approach to high-yield savings, with 2.25% APY for one year and 2.75% for five years. Attractive rates can be secured with larger deposits, and the bank provides an intuitive online platform for account management. Ally’s reputation for customer service and straightforward product offerings has made it one of the top choices for online savers.

10. CIT Bank

Known for its competitive savings products, CIT Bank provides a 1-year CD with a 2.20% APY, requiring a minimum deposit of $1,000. Their focus on high-yield, accessible savings options makes CIT Bank a favored choice for both new and experienced investors looking for reliable returns with flexible investment terms.

Making the Right Choice

When choosing a CD, it’s vital to compare the interest rates, minimum deposit requirements, and terms offered by different banks and credit unions. Although CD interest rates tend to fluctuate with market conditions, shorter-term CDs often provide better liquidity and competitive yields compared to longer terms, especially in a rising interest rate environment. Carefully assessing your financial goals and liquidity needs will help you select the best CD for your savings strategy.

Investing in high-yield CDs remains a smart way to grow your savings securely while enjoying predictable returns. By evaluating the top offers from 2018, investors could maximize their interest income while maintaining financial flexibility. Staying informed about current rates and offers from reputable institutions can significantly impact your savings prospects, making it worthwhile to regularly review your options.