CDs to Compare: Rates, Terms, and Withdrawal Rules

Dated rates, not a permanent ranking

Official pages were checked October 30, 2026. The table reports specific observations rather than claiming an exhaustive highest-rate search. Rates can change before opening and funding; the contract you receive determines the rate and term.

Sources: Sallie Mae rate table, Marcus CD table, Navy Federal certificates, Ally CD comparison and PenFed certificates. Marcus and Navy Federal displayed October 30 rate dates; Ally displayed October 29. Sallie Mae figures were observed October 30. This comparison evaluates published terms; it does not measure transfer speed or support.

Sallie Mae: compare twelve and thirteen months carefully

Sallie Mae's reviewed table showed the same 4.50% APY for twelve and thirteen months. That does not make the terms interchangeable. A thirteen-month maturity may miss a bill due after twelve months, and the bank's penalty tiers differ across that boundary.

Sallie Mae's CD terms describe 90 days of simple interest for terms of twelve months or less and 180 days for longer terms, on the amount subject to penalty. The penalty can reduce principal when earned interest is insufficient. Its maturity process includes a ten-day grace period before automatic renewal under the stated rules.

The twelve-month product can be a useful candidate when the $2,500 minimum is comfortable and the money has a matching date. Do not add an extra month solely because the APY looks the same; match the actual calendar.

Marcus: lower minimum and several term choices

Marcus's reviewed table listed a $500 minimum across its high-yield CD terms. That makes it accessible for a smaller rung in a ladder or a saver who does not want to commit $2,500 to one certificate.

The Marcus CD guide describes a 90-day-interest penalty for terms of one year or less, 180 days for more than one through five years, and 270 days for longer terms. The calculation uses the original principal and applicable interest rate. Partial principal withdrawal is not a routine substitute for closing the CD.

For a nine-month goal, compare the actual nine-month term with a twelve-month offer instead of assuming a later maturity is harmless. A slightly higher rate can be a worse deal if it forces an early exit.

Navy Federal: membership and product caps matter

Navy Federal's standard certificates offer balance tiers, including a $100,000 tier with slightly higher listed APYs for some terms. The reviewed twelve-month rates were 4.05% at the $1,000 tier and 4.10% at $100,000. Its special low-opening-balance products have separate conditions and caps.

Navy Federal eligibility is limited to qualifying military, defense, family and household relationships. The account is not a universal option for every reader.

Its certificate FAQ describes term-based early-withdrawal penalties with earned-dividend limits and special initial-period rules. Read the specific agreement, especially if a partial withdrawal would drop the remaining balance below the minimum. Do not apply another bank's penalty formula to a credit-union certificate.

Ally: flexibility is the point of the no-penalty option

Ally's reviewed no-penalty CD paid 2.90% APY and allowed full withdrawal after the first six days following funding. Its rate was below several ordinary CD rates in this table, so the reason to consider it is the withdrawal structure rather than highest yield.

That flexibility can suit money whose spending date is uncertain, provided the initial waiting period and full-withdrawal requirement are acceptable. A variable-rate savings account may still be simpler if you need frequent partial access.

Ally also offers ordinary high-yield and rate-bump CDs. Its standard CD page describes penalties that vary by term, beginning with 60 days of interest for the three-to-24-month range. Obtain the current rate for the exact standard CD term you want; the no-penalty rate is a separate product quote.

PenFed: inspect the penalty, not just the certificate name

PenFed lists a $1,000 minimum and a range of certificate terms. Check the current APY for the exact term with the provider before comparing its return with the quoted candidates.

The reviewed page describes a penalty structure for longer certificates that changes after the first year, including a percentage of dividends that would have been earned to maturity. That can behave differently from a simple fixed number of interest days. Obtain a dollar payoff illustration if early access is plausible.

Membership and the required savings relationship also matter. A certificate can fit an existing member's setup, but joining solely for an unverified rate is premature.

Put the rate difference into dollars

Hypothetical illustration using the observed twelve-month APYs: A constant $10,000 held to maturity at 4.50% APY earns $450 over a full year; at 4.40%, it earns $440. The difference is $10 before tax.

That $10 should be considered alongside opening minimums, access, existing relationships and penalties. It may be worth taking when everything else is equal, but it should not drive an inconvenient transfer or unsuitable term.

For a shorter term, APY is annualized. A six-month certificate does not pay the full annual percentage over six months. Read how CDs work for the calculation and interest-treatment details.

Choose the maturity before opening

Write down the earliest realistic spending date, then select a maturity that leaves time for withdrawal and transfer. Keep emergency money outside ordinary penalty-bearing CDs unless you have sufficient accessible funds elsewhere.

If several dates matter, use a CD ladder rather than putting everything into one maturity. Equal rungs are optional; amounts can follow actual expenses.

Record the grace period and renewal instruction immediately. A promotional certificate can renew at a different rate or term, so the maturity notice deserves attention even if you plan to keep saving.

Insurance and brokered CDs

Aggregate CDs with other deposits at the same insured institution and ownership category, including accrued interest. A different account number does not create a new standard insurance limit. Credit-union certificates use the applicable share-insurance framework.

A brokered CD can have a different exit process, including a market sale at a gain or loss and possible call features. It should not be treated as identical to a retail certificate with a standard withdrawal penalty. The penalty guide explains the difference.

Questions people ask