What is a 4-year CD?Ī four-year CD is a type of savings product where you deposit money for four years or 48 months. We monitor over 80 financial institutions, including Bank of America, Capital One, PenFed, Discover, Chase, TD Bank, Marcus by Goldman Sachs, TIAA Bank and Wells Fargo.Ĭomparatively, smaller institutions tend to offer the top-of-market rates to make a splash and gain business. That’s because the largest banks enjoy the benefits of popularity - they don’t need to feature great CD rates to attract customers and deposits. Some of the most well-known banks in the country aren’t on our list. We scored better CDs that have better ratings and lower requirements, faster compounding interest and more term options. Non-APY elements such as customer reviews, deposit requirements and were still considered, however. You want to get the most juice for the squeeze, after all. You’ll notice from the above list that we believe yield is the most important factor when you’re shopping around for a CD. One with a score of 80 would get 4 stars and so on. We created a star rating for each based on seven categories, which we weighted based on importance:Īn institution with a perfect score of 100 would get 5 stars. We evaluated nearly 150 CDs offered by 84 financial institutions across the nation, including ones from credit unions, traditional banks and online financial institutions.

Best 1 year cd interest rates