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Many online banks and credit unions offer 2-year CD rates that are much higher than the national average APY (Annual Percentage Yield) on a 2-year CD, which is 1.52% APY.
The best 2-year CD rate available nationwide is 4.35% APY at Credit Human Federal Credit Union.
At Business Insider, we monitor national banks and credit unions daily to find the best 2-year CD rates currently offered. We make sure to report on the highest CD rates, even as the Fed cuts its rates and causes CD rates as a whole to fall.
If you're also interested in other CD terms, check out our overall best CD rates.
The Best 2-Year CDs
- Credit Human 2 Year Share Certificate: 4.35% APY
- Quorum Federal Credit Union 2 Year Term Savings: 4.15% (on balances of $1,000 - $99,999) to 4.25% (on balances of $100,000 or more) APY
- Popular Direct 2 Year CD: 4.25% APY
- Signature Federal Credit Union 2 Year Certificate: 4.20% APY
- Dow Credit Union 2 Year Simple CD: 4.20% APY
- Newtek Bank 2 Year CD: 4.20% APY
- First National Bank of America 2 Year CD: 4.16% APY
- America First Credit Union 2 Year Certificate: 4.15% APY
- USALLIANCE Financial 2 Year Certificate: 4.15% APY
- NASA Federal Credit Union 2 Year Share Certificate: 4.10% APY
Calculate Your Estimated 2-Year CD Earnings
Compare the Best 2-Year CDs
Our top picks for 2-year CDs include some online banks and credit unions. The online banks and credit unions we've listed have competitive rates that are available nationwide.
We check rates daily to find the best 2-year CD rates today. Read below for our top picks to compare 2-year CD rates.
Two-Year CD Reviews
Choosing a CD term will likely depend on the timeline of your goals. A 2-year CD might be a good choice if you can keep money in an account for at least two years.
These are our picks for the best 2-year CD rates. Our top picks for CDs are protected by FDIC or NCUA insurance. If you are worried about a bank failing, keep in mind money is safe at a federally insured financial institution. When a financial institution is federally insured, up to $250,000 per depositor is secure in a bank account.
Credit Human 2 Year Share Certificate
Credit Human Federal Credit Union has competitive CD rates overall, especially on its 2-year term.
You must become a credit union member before opening a share certificate. You may join Credit Human from anywhere in the U.S. if you become a member of the American Consumer Council. Credit Human also has other ways to become a member: You'll be eligible to join if you live in a service area in San Antonio, Texas, or New Orleans, Louisiana, or if you work for a partner employer or organization.
APY for 2-year CD: 4.35% APY
2-year CD early withdrawal penalty: $50 or 270 days of interest (whichever is greater)
Quorum Federal Credit Union 2 Year Term Savings
Quorum Federal Credit Union offers good rates on its 2-year term savings, which is the name it uses for CDs. It's also a good option if you're interested in jumbo CDs. If you have more than $100,000 in the account, you'll get an extra 0.10% APY added to your account's interest.
Quorum Federal Credit Union is a credit union, so it has limitations on who can join. As part of your application process, you can join either the American Consumer Council or the Select Savers Club; if you sign up as part of your application, Quorum will pay any membership fees. You can also become a member by working or being affiliated with its select employee groups or by being a relative of a preexisting Quorum member.
APY for 2-year CD: 4.15% (on balances of $1,000 - $99,999) to 4.25% (on balances of $100,000 or more) APY
2-year CD early withdrawal penalty: 2% of the amount withdrawn, never to exceed the original principal balance
Quorum Federal Credit Union Review
Popular Direct 2 Year CD
Popular Direct is one of the best banks for 2-year CD rates. It's an online-only financial institution, so it might be a good choice if you are comfortable with online and mobile banking.
However, you need at least $10,000 to open a CD. If you'd rather open a CD with less money, one of our other top picks are likely more suitable.
APY for 2-year CD: 4.25% APY
2-year CD early withdrawal penalty: 270 days of simple interest
Signature Federal Credit Union 2 Year Certificate
Signature Federal Credit Union is another solid choice if you prioritize banking with a credit union. The Signature Federal Credit Union Certificate has a $500 minimum opening deposit.
Credit unions require membership to open an account. The easiest way to become a member is to enroll in the American Consumer Council. After that, you'll just need to open a savings account.
APY for 2-year CD: 4.20% APY
2-year CD early withdrawal penalty: 180 days of interest
Signature Federal Credit Union Review
Dow Credit Union 2 Year Simple CD
Dow Credit Union offers a competitive interest rate on a 2-year CD and various other terms, including the best 3-year CD rates and 5-year CD rates.
To open a CD at Dow Credit Union you have to qualify for membership. The easiest way to become a member of Dow Credit Union is to make a $10 donation to the Midland Area Community Foundation. The credit union also has other ways to join, such as being part of a Select Employer Group or having a family member who is a current credit union member.
APY for 2-year CD: 4.20% APY
2-year CD early withdrawal penalty: 180 days of interest
Newtek Bank 2 Year CD
Newtek Bank pays high CD rates for 2-year terms. It also offers one of the best 18-month CD rates, so it could be a good choice if you're interested in opening multiple CDs.
It charges standard early withdrawal penalties for these terms. However, you'll need at least $2,500 to open a CD with Newtek. Other banks have more lenient opening requirements for CDs.
APY for 2-year CD: 4.20% APY
2-year CD early withdrawal penalty: 180 days of simple interest
First National Bank of America 2 Year CD
First National Bank of America offers a good rate for its 2-year CD. It also has CDs with term lengths up to 10 years; most banks only offer CDs with term lengths up to five years. If you need to open a long-term CD, First National Bank of America might be a good choice for you.
First National Bank of America has high early withdrawal penalties for its 2-year CD. If you think there's a chance you'll need to withdraw money from your CD before the end of its term length, you might want to go with another bank.
APY for 2-year CD: 4.16% APY
2-year CD early withdrawal penalty: 360 days of interest
First National Bank of America Review
America First Credit Union 2 Year Certificate
America First Credit Union offers one of the best rates for a 1-year CD along with its great 2-year CD. The America First Credit Union Certificate may be worthwhile if you're searching for a financial institution with branches in Arizona, Idaho, Nevada, New Mexico, Oregon, and Utah. America First Credit Union has a variety of terms with high interest rates.
Credit unions require membership to open bank accounts. You may join America First Credit Union if you live, work, worship, or volunteer in an Arizona, Idaho, Nevada, New Mexico, Oregon, or Utah county on this list. If you have a family member or spouse who's a current member, you're also eligible.
To become a member, you must also open an America First Credit Union Share Savings Account.
America First Credit Union has an A+ rating from the BBB.
APY for a 2-year term: 4.15% APY
2-year CD early withdrawal penalty: 180 days of interest
America First Credit Union Review
USALLIANCE Financial 2 Year Certificate
A 2-year USALLIANCE Financial certificate is a solid choice if you want a share certificate from a credit union. It pays a high 2-year CD rate and has a low minimum opening deposit.
You can join USALLIANCE Financial if you 1) live in a select area in Massachusetts, Connecticut, New Jersey, or New York, 2) work for a select employment group, or 3) become a member of the American Consumer Council, Arco of Westchester, Tread Lightly!, or the Council of Community Services.
The early withdrawal penalties at USALLIANCE Financial are a bit higher than other financial institutions. You can also only open a CD if you qualify for membership at the credit union.
APY for 2-year CD: 4.15% APY
2-year CD early withdrawal penalty: 360 days of interest
NASA Federal Credit Union 2 Year Share Certificate
NASA Federal Credit Union has a great 9-month CD in addition to its strong 2-year CD. It also offers specialty CDs, such as IRA CDs and Bump Rate CDs.
NASA Federal Credit Union limits who can join it. That being said, it's easier to join than many credit unions. When you fill out an application, you'll receive a free one-year membership to the National Space Society which will let you join the credit union. You can also join by being an employee of NASA or another select employer group or by having a relative who's a member of the credit union.
APY for a 2-year term: 4.10% APY
2-year CD early withdrawal penalty: 182 days of interest or all the interest on the withdrawn amount, whichever is lesser
Bank Trustworthiness and BBB Ratings
We review the ethics of each company so you can see if a specific financial institution aligns with your values.
We've compared each bank's Better Business Bureau score. The BBB grades businesses based on factors like responses to customer complaints, honesty in advertising, and transparency about business practices. A good BBB rating doesn't necessarily mean that your relationship with the bank will be perfect.
We also include the settlement history of the last three years so you're aware of any recent public controversies involving the bank.
Here is each company's score:
| Institution | BBB grade |
| Credit Human | A- |
| Quorum Federal Credit Union | A+ |
| Popular Direct | A+ |
| Signature Federal Credit Union | B- |
| Dow Credit Union | A+ |
| Newtek Bank | A+ |
| First National Bank of America | A+ |
| America First Credit Union | A+ |
| USALLIANCE Financial | D- |
| NASA Federal Credit Union | A |
Credit Human has an A- rating from the BBB because of a few unresolved complaints.
USALLIANCE Financial has a D- rating from the BBB due to several complaints it hasn't responded to.
Signature Federal Credit Union has a B- rating from the BBB because it hasn't responded to a couple of complaints.
NASA Federal Credit Union has an A rating because a few complaints filed against the business have not been resolved.
What Influences the Best 2-Year CD Rates
Economic Conditions
Banks and credit unions have to respond to market fluctuations when setting their rates. For example, if rates are rising, banks will have to raise their rates as well in order to stay competitive. And when rates lower, banks can lower their own rates and still make a profit.
Fed Actions and Interest Rate Outlook
If you're wondering what the Federal Reserve is, also called "the Fed," it's the central banking system of the U.S. Multiple times a year, the Fed meets to set its own interest rates. When it announces the changes it makes, most financial institutions follow suit.
Individual Institution Rates
What rate you can get differs from bank to bank and credit union to credit union. The worst banks for CDs will offer rates as low as 0.01%, while the best banks for CDs can go over 5% annual percentage yield. When shopping for 2-year CDs, make sure to compare banks' rates and look for 2-year CD specials.
Should You Invest in a 2-Year CD?
Whether you should invest in a 2-year CD or not largely depends on what you're hoping to get from a CD. If you're purely interested in the highest interest rate, short-term CDs are offering better rates than long-term CDs right now.
If you're interested in locking in a high rate for a while without committing to a 5-year CD, a 2-year CD might be a good choice for you. You also might like a 2-year CD if you're saving up for something that you know will happen in two years, such as if you're planning on buying a house in two years.
2-Year CD FAQs
The best 2-year CD rate available around the U.S. is 4.35% APY at Credit Human Federal Credit Union.
A 2-year CD is worth it if you have a specific savings goal with a timeframe of 2 years and you do not need immediate access to your money. Some 2-year CD rates are as high as 5% APY. Keep in mind that traditional CDs and variable-rate CDs do not allow additional deposits and involve a penalty if you take out any money before a CD term ends.
Right now, short-term CDs offer higher rates than 2-year CDs because people expect the Fed to lower rates, so you'll get better rates and more flexibility with them. Going with a 2-year CD might let you lock in a rate before it drops, though.
Right now, you can generally expect 1-year CD rates to be higher than 2-year CD rates.
Reading about the CD rate forecast for 2025 can help you keep an eye on how 2-year CD rates are trending.
While high rates are important when choosing 2-year CDs, it's likely you'll want to consider other factors as well, such as minimum opening deposits, early withdrawal penalties, and limits on how much you can earn.
Why You Should Trust Us: Experts' Advice on Choosing the Best 2-Year CD
We consulted four banking and financial planning experts to inform these picks and provide their advice on finding the best place to keep your money.
- Tania Brown, CFP® professional and vice president of coaching strategy at OfColor
- Sophia Acevedo, banking editor, Business Insider
- Roger Ma, CFP® professional and author of "Work Your Money, Not Your Life"
- Mykail James, MBA, certified financial education instructor, BoujieBudgets.com
Here's their insight about CDs.
How can someone choose between all of the available banks and credit unions?
First of all, you want a bank that is FDIC-insured (or a credit union that is NCUA-insured). Then, consider your own priorities: Are you looking for an in-person banking experience? Do you need a high-tech mobile app? Do you write checks? Are you looking for a high interest rate? Will you meet the requirements to waive any monthly maintenance fees?
There are plenty of banks and credit unions that offer good rates and useful products, but the best one for you will come down to how it fits your needs.
How should you choose a term length for a CD?
When you put money in a CD, you want to have two things: a plan for how you will use that money, and a timeline for when you'll do it. Once you know when you'll spend it, take a look at rates for terms that are near your planned timeline, and choose the CD with the best rate.
When you can put money in high-yield savings account, money market account, or CD, how do you choose between them?
While all three options pay somewhat similar rates, the difference comes down to how you plan to interact with that money over time. If you need access to it in the next few months or years, that means you can't use a CD (or at least not one that spans however many months or years). Money market accounts tend to offer more account accessibility — several offer paper checks, ATM cards, or debit cards — while high-yield savings accounts are a good place to leave your money alone, knowing you can access it if needed.
Methodology: How We Selected the Best 2-Year CDs
At Business Insider, we aim to create helpful reviews, guides, and explainers so that you can make smart money decisions. We know that every person has distinct preferences, so we provide ample options to help you find the best match for you.
Our team is editorially independent — our business team does not decide how we cover products or what we write about. Our editorial standards page dives into how we review and choose products.
Business Insider's personal finance team researched over 60 banks and credit unions that offered the best 2-year CD rates. Then, we reviewed each institution to find the most well-rounded banking options.
For each account, we compared the minimum opening deposits, early withdrawal penalties, miscellaneous features, and interest rates. We also considered the overall banking experience at each bank by assessing customer support availability, mobile app ratings, security, and ethics.
Using bank account methodology we score each of these features from 0 to 5, although some features have a larger weight percentage than others. We add up these scores and calculate the weighted average to determine the account's total rating.
All our bank accounts have a scale of one to five stars. A one-star rating is a low score. It shows the product needs significant improvement. A five-star rating is the highest rating possible. It indicates the product is a superior choice.
