Top 5 highest-yielding CDs right now

Think certificates of deposit (CDs) are a thing of the past? Think again.

Some U.S. banks are now offering higher yields on certain CDs than a 10-year U.S. Treasury bond can, prompting a potential comeback for the old school savings plan.

According to’s list of highest-yielding CDs, Citizens Access topped this year’s list with its two-year CD with a minimum deposit of $5,000 with annual percentage yield (APY) of 2.90 percent, which is almost 25 basis points more than the 10-year Treasury yield. A basis point is one one-hundredth of a percent.

Synchrony Bank and Capital One 360 came in second and third, respectively, with annual percentage yields of 2.85 percent and 2.80 percent on a 15-month and a two-year term.

"CDs are a great diversifier for an otherwise stock and bond heavy portfolio. That predictable interest income and safety of principal is great consolation to investors when markets are volatile," Greg McBride, chief financial analyst for tells FOX Business.

However, he warns customers not to chase yield in longer maturities as the additional yield is minimal and the funds will be locked up for years.

A CD is a savings certificate with a fixed maturity date and specified fixed interest rate. CDs are generally issued by commercial banks but are insured by the Federal Deposit Insurance Corporation for amounts up to $250,000 per individual. Withdrawing the principal before maturity carries a penalty.


Here are the top five highest-yielding CDs, according to

1. Citizens Access

APY: 2.90 percent

Term: 2 years

Minimum Deposit:  $5,000

2.  Synchrony Bank

APY: 2.85 percent

Term: 15 months

Minimum Deposit: $2,000

3.  Capital One 360

APY: 2.80 percent

Term:  2 years

Minimum Deposit: $0

4.  Goldman Sachs

APY: 2.75 percent

Term: 1 year

Minimum Deposit: $500

5.  Citizens Access

APY: 2.75 percent

Term: 18 months

Minimum Deposit: $5,000