Overview of Bank CD Rates in the United States
One way to save money is to use a certificate of deposit (CD) account. You find them at banks and credit unions. They are generally low-risk but also low-reward places to keep your money. See below to learn more about various banks across the United States, their various CD offerings, and everything else you may need to pick the best CD.
| Bank | Products | Terms | APY |
|---|---|---|---|
Ally Bank  See all Ally Bank CD Rates |
| 3 Month - 5 Year | 3.00% - 5.00% |
Barclays  See all Barclays CD Rates |
| 6 Month - 5 Year | 3.50% - 4.85% |
Capital One  See all Capital One CD Rates |
| 6 Month - 5 Year | 3.90% - 5.00% |
CD Rates by Bank
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Places Where it Pays the Most to Save
SmartAsset’s interactive map highlights the places in the country where people will benefit the most from saving their money. Zoom between states and the national map to see the places where it pays the most to save.
| Rank | County | Net Median Income | Effective Tax Rate | Average Savings Account Rate | Interest Earned | Savings Rate Return |
|---|
Methodology Where you live can have an impact on how much you could potentially earn through a savings account as well as how easy it is to save money. Our study finds the places where people yield the most on their savings based on savings account rates, median household income, average living expenses and income tax burden.
First, we calculated the net median income by subtracting the average cost of living for a household with two adults (one working adult and non-working adult) from the median household income in each county.
To compare income tax burdens across counties, we applied relevant deductions and exemptions before calculating federal, state and local income taxes for a family making $50,000 annual income in each location. Next, we created an effective tax rate index for each county that reflects the counties with the lowest ratio of income taxes to the assumed $50,000 annual income. We subtracted the taxes the family would have to pay on the net median income in each county and assumed the difference would be put into a savings account for the next five years.
Next, we applied the average savings account rate in each county to this amount and calculated how much interest the money would earn over the next five years. When there was no county-level savings account rate data, we applied the statewide average to that county.
Sources: US Census Bureau 2017 5-Year American Community Survey, RateWatch, MIT Living Wage Study
