Written by Matthew Goldberg Matthew Goldberg
Edited by Marc Wojno Marc Wojno
Reviewed by Robert R. Johnson Robert R. Johnson
Best available rates across different account types for Wednesday, January 10, 2024
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What To Know First
Compared tosavings accountsand short-term time deposits, 10-yearcertificates of deposit may offer more competitive interest rates. They’re also virtually risk-free and guarantee a specific rate of return. But given the long return horizon, a 10-year CD isn’t a good fit for every saver. Before buying one, consider whether locking up your savings in a long-term CD is a smart move for you.
Today’s top, widely available 10-year CD pays 3.8 percent APY, which, given the length of term, isn’t a competitive rate. You may be better off investing in a shorter-term CD that pays a higher yield. For example, you can currently lock in up to 4.75 percent APY on a five-year CD.
Bankrate’s picks for the top 10-year CD rates
- Discover Bank: 3.80% APY; $2,500 minimum deposit to open
- Vio Bank: 2.75% APY; $500 minimum deposit to open
- EmigrantDirect: 2.75% APY; $1,000 minimum deposit to open
- MySavingsDirect: 2.00% APY; $1,000 minimum deposit to open
Note: Annual percentage yields (APYs) shown are as of Nov. 30, 2023. Bankrate's editorial team validates this information regularly, typically biweekly. APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes only FDIC banks or NCUA credit unions in its listings.
On This Page
- Bankrate's picks for the top 10-year CD rates
- How to find the best 10-year CD rates
- 10-year CD FAQs
- Research methodology
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Show me:
The following accounts can be found at most banks and credit unions. They’re federally insured for up to $250,000 and offer a safe place to put your money while earning interest.
Certificate of Deposit (CD)
CDs are best for individuals looking for a guaranteed rate of return that’s typically higher than a savings account. In exchange for a higher rate, funds are tied up for a set period of time and early withdrawal penalties may apply.
Checking account
Checking accounts are best for individuals who want to keep their money safe while still having easy, day-to-day access to their funds. ATM and other transactional fees may apply.
Savings / Money Market Accounts (MMA)
Savings and MMAs are good options for individuals looking to save for shorter-term goals. They’re a safe way to separate your savings from everyday cash, but may require larger minimum balances and have transfer limitations.
Current savings trends
Bankrate Partner average
4.67% APY
National average
0.58% APY
The "Bankrate Partner average" is calculated from the average of the top savings account offers from the institutions we track, included on this page as of 1/11/2024. "National average" is determined by Bankrate's comprehensive national survey of savings accounts and CDs.
On This Page
On This Page
- Bankrate's picks for the top 10-year CD rates
- How to find the best 10-year CD rates
- 10-year CD FAQs
- Research methodology
Bankrate's picks for the top 10-year CD rates
Note: Annual percentage yields (APYs) shown are as of Nov. 30, 2023. Bankrate's editorial team validates this information regularly, typically biweekly. APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes only FDIC banks or NCUA credit unions in its listings.
Discover Bank: 3.80% APY; $2,500 minimum deposit to open
Few well-known banks offer 10-year CDs. One exception is Discover Bank, which offers CDs across all standard terms. The bank’s yields for its five-, seven- and 10-year CDs are the same, and they’re higher than the rates tied to the rest of its accounts.
Discover is an online bank headquartered in Greenwood, Delaware. Until August 2000, it was known as the Greenwood Trust Co., which was incorporated in 1911.
Vio Bank: 2.75% APY; $500 minimum deposit to open
Vio Bank is an online-only bank that offers CDs and a high-yield savings account with competitive rates. CD terms range from six months to 10 years.
Vio Bank is a division of MidFirst Bank, based in Oklahoma City.
EmigrantDirect: 2.75% APY; $1,000 minimum deposit to open
EmigrantDirect is a division ofEmigrant Bank. It has CDs with terms ranging from six months to 10 years. All of these CDs require a $1,000 minimum deposit.
EmigrantDirect also offers the American Dream Savings Account, which has no fees or service charges.
MySavingsDirect: 2.00% APY; $1,000 minimum deposit to open
MySavingsDirect is a division ofEmigrant Bank. It offers CDs with terms ranging from six months to 10 years, with each requiring a $1,000 minimum deposit.
MySavingsDirect also offers the MySavings Account, which has no fees or service charges.
How to find the best 10-year CD rates
Since few banks and credit unions offer 10-year CDs, finding the best rates may be challenging.
Compare offers with deposits backed by the federal government. Look closely at deals from online financial institutions.
Remember, few institutions offer certificates in this term, but you may find a better deal in your own search.
10-year CD FAQs
Research methodology
At Bankrate, we strive to help you make smarter financial decisions. We follow strict guidelines to ensure that our editorial content is unbiased and not influenced by advertisers. Our editorial team receives no direct compensation from advertisers and our content is thoroughly fact-checked to ensure accuracy.
Bankrate regularly surveys around 70 widely available financial institutions, made up of the biggest banks and credit unions, as well as a number of popular online banks.
To find the best CDs, our editorial team analyzes various factors, such as: APY, the minimum deposit needed to earn that APY (or to open the CD) and whether it is broadly available. All of the accounts on this page are insured by the Federal Deposit Insurance Corp. (FDIC) or the National Credit Union Administration (NCUA).
When selecting the best CD for you, consider the purpose of the money and when you’ll need access to these funds to help you avoid early withdrawal penalties.
