Best 12-Month CD Rates - October 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
- Location-Based Rate Tables
- Bank & Credit Union Health Safety Ratings
- Finance Calculators
12-month CD rates range from 4.25% to 6.14% APY, verified by MonitorBankRates as of October 12, 2026. Top 12-month CD rates currently available include Southeast Missouri Community Credit UnionSoutheast Missouri Community Credit Union312 W Main St, Park Hills, MO 63601 2544A+5.0 ★Texas Ratio: 1.03%Real return: +3.34%APY minus CPI (February 2026) offering 12 month Youth CD at 6.14% APY, and Vacationland Federal Credit UnionVacationland Federal Credit Union2409 E Perkins Ave, Sandusky, OH 44870A+5.0 ★Texas Ratio: 4.80%Real return: +3.23%APY minus CPI (February 2026) offering 12 Month Youth Certificates at 6.03% APY, and Congressional Federal Credit UnionCongressional Federal Credit Union10461 White Granite Dr, Oakton, VA 22124A5.0 ★Texas Ratio: 8.63%Real return: +3.20%APY minus CPI (February 2026) offering Flexible Saver - 1 Year Certificate at 6.00% APY, and CO-OP Credit UnionCO-OP Credit Union100 E Main St, Black River Falls, WI 54615A+5.0 ★Texas Ratio: 5.54%Real return: +3.20%APY minus CPI (February 2026) offering 12 Month Youth Saver Certificate at 6.00% APY. CD rates as of October 12, 2026 according to verified data from MonitorBankRates.
A 1-year CD is often considered the sweet spot for savers. It offers a higher yield than a standard savings account while keeping your money committed for just one year — ideal for building a CD ladder or parking funds you won’t need in the near term. We display Safety Grades, Star Ratings, and Texas Ratios so you can choose institutions with confidence.
The APYs displayed reflect actual verified offers. Rates are subject to change at the institution’s discretion without notice. A substantial penalty may be imposed for early withdrawal. 12-Month CD Rates Last Updated and Verified: October 12, 2026
Compare the Best 12-Month CD Rates Nationwide
$1000.00 Maximum
Age: 19
No additional details available.
No additional details available.
Relationship Certificate(12 months)Terms Apply
Balance Range: $50 - $5,000
Age: 13-17
This account is available only for members under 18 years of age.; Youth Products (Regular, Traditional IRA, and Roth IRA)
- Oct 1, 20265.25%▲ from 5.15%
- Sep 30, 20265.15%first recorded
No additional details available.
No additional details available.
Balance: $1.00 to $5,000.00
$100,000.00 maximum for each certificate. 90 penalty for early withdrawal, 10 day grace period at end of contract. Dividends are paid quarterly and deposited to certificate.
No additional details available.
- Oct 12, 20265.09%▲ from 3.56%
- Sep 16, 20263.56%first recorded
No additional details available.
Maximum $10,000 (Automatic Renewal)
The Family Legacy Certificate Account must be opened within two years of the date of death. Eligibility is subject to verification.
- Sep 17, 20265.00%▲ from 4.91%
- Sep 14, 20264.91%first recorded
Maximum $10,000.00. Eligible through age 22.
Early Withdrawal Penalty: 90 days interest
New external funds required
One Easy Save Certificate per member, per tax year. Maximum deposit balance is $6,500 (if you qualify).
12-month jumbo certificate cannot be opened online. Visit any branch or call 1-800-877-6440 for support.
APY (Annual Percentage Yield) is for 12-month Get Real Add-On CD promotional rate CD. Rate effective 8/28/2025. The APY assumes interest remains on deposit until maturity. A withdrawal will reduce earnings. Minimum deposit of $100.00 required to open CD and a $10.00 minimum balance required to obtain APY. To qualify for this account, you must be 14-25 years of age with an active Get Real Checking Account or Get Real Savings Account. If you are under the age of 18 you will need a signature of a parent or a legal guardian as a joint owner. After the account is opened, you may make deposits until the maturity date. Deposits can be made at the branch or transferred from another account via online banking or our mobile app. At maturity, the 12-month Get Real Add-On CD will revert to a 12-month CD which will not accept additional deposits after the account is opened with the non-promotional APY at that time. Early withdrawal penalties may apply. Fees may reduce earnings. Offer may be withdrawn at any time. Not to be combined with any additional promotional offer. For more information, please call 978-365-3700.
- Oct 11, 20265.00%▲ from 3.00%
- Sep 19, 20263.00%first recorded
No additional details available.
Share Certificate Special; (must have Checking)
Maximum $5,000. Add additional funds at any time up to $5,000 maximum. One Starter Certificate per membership.
Balance: $25,000
- Oct 9, 20265.00%▲ from 2.00%
- Sep 18, 20262.00%first recorded
No additional details available.
Maximum Balance: $1,000; Limit one StartUP Share Certificate per member
Balance: $100.00 - $4,999.99; Must be eligible for membership and maintain at least $5.00 in a Membership Savings account.
No additional details available.
No additional details available.
No additional details available.
- Oct 10, 20264.95%▲ from 4.55%
- Sep 14, 20264.55%first recorded
Get complete details here
No additional details available.
- Oct 1, 20264.83%▲ from 3.03%
- Sep 30, 20263.03%first recorded
APY - Annual Percentage Yield APY assumes dividends remain on deposit until maturity. Dividends begin to accrue on the first business day funds are deposited and are compounded and credited monthly. The minimum balance listed is required to earn the corresponding APY. Certificate rates are subject to change without notice; however, once issued, the Dividend Rate and APY are fixed for the certificate term. Early withdrawals may be subject to a penalty and may reduce earnings. IRA Share Certificates are subject to applicable IRA requirements and may be subject to additional tax consequences or penalties for withdrawals. Please consult a qualified tax advisor regarding your individual circumstances. Rates, terms, and accounts are available to METRO Federal Credit Union members only. Please refer to the Share Certificate Terms & Conditions and applicable IRA documents for complete account terms and disclosures. Member accounts are federally insured by the National Credit Union Administration (NCUA) up to applicable limits.
No additional details available.
Promo; 25% of opening deposit must be new money; penalty for early withdrawal; at maturity converts to regular certificate
No additional details available.
- Oct 12, 20264.75%▲ from 4.40%
- Oct 4, 20264.40%▲ from 4.35%
- Sep 20, 20264.35%first recorded
Includes a .50 bonus for active and engaged members through our Loyalty+ program. At maturity, the 12-Month Certificate automatically renews at a 12-month term at the rate in effect on the maturity date.
- Sep 21, 20264.70%▲ from 4.00%
- Sep 14, 20264.00%first recorded
No additional details available.
Certificate Rates (100,000 minimum balance)
Balance: $35,000+
- Sep 24, 20264.63%▲ from 3.55%
- Sep 14, 20263.55%first recorded
Minimum initial deposit $1,000 for Traditional and Roth IRA Certificates; $500 for Educational IRA Certificates
- Oct 8, 20264.60%▲ from 4.08%
- Sep 16, 20264.08%first recorded
No additional details available.
- Oct 2, 20264.60%▲ from 4.50%
- Sep 24, 20264.50%▲ from 4.40%
- Sep 18, 20264.40%▲ from 4.20%
- Sep 8, 20264.20%first recorded
No additional details available.
No additional details available.
- Oct 5, 20264.59%▲ from 4.33%
- Sep 14, 20264.33%first recorded
Limited time only
Tenure: 20+ Yrs; Active Checking: Yes
- Oct 8, 20264.59%▲ from 4.07%
- Sep 14, 20264.07%first recorded
No additional details available.
- Oct 7, 20264.58%▲ from 4.32%
- Sep 24, 20264.32%first recorded
No additional details available.
- Oct 9, 20264.58%▲ from 4.01%
- Sep 25, 20264.01%first recorded
No additional details available.
- Sep 26, 20264.58%▲ from 4.50%
- Sep 14, 20264.50%first recorded
No additional details available.
- Oct 7, 20264.55%▲ from 4.50%
- Oct 3, 20264.50%▲ from 4.37%
- Sep 27, 20264.37%▲ from 4.35%
- Sep 24, 20264.35%first recorded
No additional details available.
No additional details available.
- Oct 9, 20264.53%▲ from 4.07%
- Sep 18, 20264.07%first recorded
No additional details available.
Interest paid quarterly via ACH to any account designated by the customer institution; Withdrawal before maturity is not permitted
- Oct 7, 20264.51%▲ from 4.33%
- Sep 24, 20264.33%▲ from 4.23%
- Sep 14, 20264.23%first recorded
Balance: $500 (maximum principal balance)
APY* (min. balance $100,000)
No additional details available.
Premier Member rate; Traditional & Roth Certificates Rates
Minimum balance to open and earn APY (4.41% dividend rate): $100
- Oct 5, 20264.50%▲ from 4.35%
- Sep 14, 20264.35%first recorded
10-Day Rate Guarantee. Earn Loyalty Rates when you renew your CD.
- Oct 7, 20264.50%▲ from 4.30%
- Sep 18, 20264.30%first recorded
No additional details available.
No additional details available.
No additional details available.
No additional details available.
- Oct 10, 20264.50%▲ from 4.40%
- Sep 14, 20264.40%first recorded
No additional details available.
- Oct 10, 20264.50%▲ from 4.00%
- Sep 18, 20264.00%first recorded
No additional details available.
No additional details available.
No additional details available.
Rates are as of October 1, 2026 and are subject to change. A penalty may be imposed for early withdrawal.
Special Rate
- Oct 1, 20264.50%▲ from 4.36%
- Sep 14, 20264.36%first recorded
Annual Percentage Yields (APYs) current as of 9th October 2026 and are subject to change without notice. Withdrawals of principal are subject to early withdrawal penalties. The Dividend Rate and Annual Percentage Yield are fixed and will be in effect for the initial term of the account. Membership eligibility required. Insured by NCUA.
- Oct 10, 20264.50%▲ from 4.00%
- Sep 18, 20264.00%first recorded
Max $500
- Oct 9, 20264.50%▲ from 3.55%
- Sep 18, 20263.55%▲ from 3.20%
- Sep 14, 20263.20%first recorded
Balance: $100.00-$2,000.00
Watch your money grow at a premium rate when you agree to receive paperless eStatements. Balances of $50,000 or more earn higher rates. No monthly fee. Auto renewal available. Federally insured balances up to $250,000.00.
Age: 0-10,000
No additional details available.
No additional details available.
- Sep 29, 20264.50%▲ from 4.00%
- Sep 14, 20264.00%first recorded
Must Open In-Branch
- Sep 24, 20264.50%▲ from 4.30%
- Sep 9, 20264.30%first recorded
$1,000 minimum opening deposit required. A penalty applies for early withdrawal.
- Oct 12, 20264.50%▲ from 4.25%
- Sep 25, 20264.25%first recorded
Early withdrawal penalties may apply. Fees may reduce the investment below the principal held at the beginning of the term.
- Oct 4, 20264.50%▲ from 3.75%
- Sep 24, 20263.75%first recorded
No additional details available.
Type: Regular/IRA; Dividends compound & paid: Daily
- Oct 12, 20264.50%▲ from 4.05%
- Sep 14, 20264.05%first recorded
Traditional IRA; penalties may be imposed for early withdrawal
- Oct 12, 20264.50%▲ from 4.00%
- Sep 12, 20264.00%first recorded
To receive promotional rate, opening deposit cannot originate from pre-existing Freedom Bank account funds. Rate applicable to a maximum of $250,000.00 FDIC coverage per customer relationship. Rates may change after account opening. A penalty may be imposed for early withdrawal. Fees may reduce earnings on the account. Other terms and conditions may apply.
- Sep 24, 20264.50%▲ from 3.82%
- Sep 14, 20263.82%first recorded
No additional details available.
- Sep 25, 20264.47%▲ from 4.06%
- Sep 14, 20264.06%first recorded
No additional deposits after initial deposit.
- Oct 7, 20264.46%▲ from 4.30%
- Sep 18, 20264.30%first recorded
A penalty will be imposed for early withdrawals on CDs. At maturity, your CD will automatically renew and earn the base interest rate in effect at that time.
- Oct 11, 20264.45%▲ from 4.25%
- Sep 19, 20264.25%first recorded
Balance: $300,000.00 and greater
The Annual Percentage Yield (APY) is accurate as of 09/24/2026. APY assumes interest remains on deposit until maturity date. Penalty for early withdrawal may reduce earnings. Fees may reduce earnings. Rates are subject to change at any time and are not guaranteed until the account is opened.
Online-only high-yield rates.
- Oct 2, 20264.45%▲ from 4.00%
- Sep 18, 20264.00%first recorded
Open account in person. See details.
- Oct 7, 20264.44%▲ from 4.09%
- Sep 19, 20264.09%first recorded
Available to new funds only.
No additional details available.
- Sep 24, 20264.42%▲ from 4.16%
- Sep 14, 20264.16%first recorded
Certificate accounts have a 1% penalty for early withdrawal and have 10 days after the CD renews before a penalty.
Balance required to obtain APY: $2,500
No additional details available.
$25 to $3,000; dividend rate not captured
No additional details available.
No additional details available.
- Oct 1, 20264.40%▲ from 4.25%
- Sep 22, 20264.25%▲ from 4.00%
- Sep 14, 20264.00%first recorded
No additional details available.
No additional details available.
- Oct 9, 20264.40%▲ from 4.10%
- Sep 14, 20264.10%first recorded
Limited Time Special; Penalty for Early Withdrawal
- Oct 9, 20264.40%▲ from 4.25%
- Sep 18, 20264.25%first recorded
Early Withdrawal Penalty: Yes
- Oct 6, 20264.40%▲ from 3.90%
- Sep 14, 20263.90%first recorded
No additional details available.
- Oct 12, 20264.40%▲ from 4.15%
- Sep 25, 20264.15%first recorded
Deposit: $10,000+
Minimum: $500 Minimum
- Oct 9, 20264.40%▲ from 4.00%
- Sep 18, 20264.00%first recorded
No additional details available.
- Oct 10, 20264.39%▲ from 4.18%
- Sep 27, 20264.18%▲ from 4.10%
- Sep 14, 20264.10%first recorded
Jumbo/Min. $90,000
variable rate
Balance: $1,000.00 to $24,999.99
Paycheck Certificate Promo; Available for IRAs and Coverdell Education Savings Accounts; early withdrawal penalty may apply
No additional details available.
- Sep 27, 20264.36%▲ from 4.01%
- Sep 7, 20264.01%first recorded
New Money CDs
No additional details available.
Featured rate
- Sep 24, 20264.35%▲ from 4.15%
- Sep 14, 20264.15%first recorded
No additional details available.
Balance: $1,000
- Sep 27, 20264.35%▲ from 4.05%
- Sep 18, 20264.05%first recorded
Open Online; Online Only
- Oct 12, 20264.35%▲ from 4.00%
- Sep 25, 20264.00%▲ from 3.95%
- Sep 14, 20263.95%first recorded
No additional details available.
Better Rewards rate; requires Better Rewards Checking eligibility at time of opening or renewal
No additional details available.
- Oct 8, 20264.35%▲ from 4.15%
- Oct 3, 20264.15%first recorded
No additional details available.
payroll deposit only
Early Withdrawal Penalty: 3 months interest
Interest Compounded & Credited: Quarterly
- Sep 24, 20264.35%▲ from 4.01%
- Sep 14, 20264.01%first recorded
Penalty: 90 Days1
No additional details available.
No additional details available.
- Oct 12, 20264.35%▲ from 4.30%
- Sep 28, 20264.30%first recorded
No additional details available.
- Oct 5, 20264.35%▲ from 4.00%
- Sep 21, 20264.00%first recorded
No additional details available.
Balance: $10,000+
- Oct 5, 20264.33%▲ from 3.77%
- Sep 29, 20263.77%first recorded
No additional details available.
- Oct 8, 20264.33%▲ from 4.13%
- Sep 24, 20264.13%▲ from 4.07%
- Sep 14, 20264.07%first recorded
Balance: $100,000+; Early withdrawal penalties may apply
- Sep 18, 20264.33%▲ from 4.07%
- Sep 12, 20264.07%first recorded
Withdrawals made prior to maturity are subject to a loss of 120 days dividend
Published APY range: 4.33%/4.32%. Dividends Credited/Compounded: Monthly/Quarterly; Minimum opening and running balance for IRA Certificates is $500
No additional details available.
No additional details available.
Variable**
Tru Traditional/Roth IRA Accounts
Base Rate + 1.25%
No additional details available.
No additional details available.
No additional details available.
No additional details available.
Balance: $100,000+
HSA Certificate - Members who have amassed a balance in their Health Savings Account can use those funds to open an HSA certificate. HSA certificates are offered in the same terms as regular certificates. If you have questions or are interested in opening an HSA certificate, contact us today. APY = Annual Percentage Yield. For all certificates unless otherwise noted: penalty for early withdrawal. Minimum deposit of $500 required to open certificate & earn dividends. Rate is accurate as today's dividend declaration. Fees may reduce earnings on the account. Rate = dividend rate.
- Sep 27, 20264.30%▲ from 4.25%
- Sep 14, 20264.25%first recorded
Dividends will be compounded every day. Dividends will be credited to your account monthly. Alternatively, you may choose to have dividends paid to another account every month rather than credited to this account.
- Oct 6, 20264.30%▲ from 4.00%
- Sep 27, 20264.00%first recorded
Balance: $100,000 and above
- Oct 7, 20264.30%▲ from 4.24%
- Sep 18, 20264.24%first recorded
No additional details available.
No additional details available.
No additional details available.
- Sep 27, 20264.30%▲ from 4.20%
- Sep 18, 20264.20%first recorded
No additional details available.
- Sep 24, 20264.30%▲ from 4.00%
- Sep 18, 20264.00%first recorded
No additional details available.
- Oct 6, 20264.30%▲ from 4.00%
- Sep 14, 20264.00%first recorded
Fixed APY | No minimum balance
No additional details available.
- Oct 2, 20264.30%▲ from 4.15%
- Sep 18, 20264.15%first recorded
No additional details available.
- Oct 10, 20264.30%▲ from 4.00%
- Oct 6, 20264.00%first recorded
No additional details available.
No additional details available.
- Oct 10, 20264.30%▲ from 3.80%
- Sep 14, 20263.80%first recorded
A strong rate. A full year of predictable growth.
- Oct 7, 20264.30%▲ from 4.20%
- Sep 28, 20264.20%first recorded
No additional details available.
No additional details available.
- Sep 24, 20264.30%▲ from 4.15%
- Sep 18, 20264.15%first recorded
No additional details available.
No additional details available.
- Oct 4, 20264.30%▲ from 3.85%
- Sep 25, 20263.85%first recorded
$500 to $99,999.99
No additional details available.
No additional details available.
- Oct 7, 20264.28%▲ from 4.07%
- Sep 19, 20264.07%first recorded
No additional details available.
No additional details available.
ages 21 yrs & younger
Balance: $100,000.00 and over
- Oct 7, 20264.27%▲ from 4.06%
- Sep 18, 20264.06%first recorded
Online Only; Maximum amount to open CD is $90,000; Only available to Consumer Customers; No Institutional or Public Funds; Not available for IRAs
Balance: $100,000 & over
- Oct 3, 20264.27%▲ from 4.22%
- Sep 24, 20264.22%▲ from 4.16%
- Sep 20, 20264.16%first recorded
Special CD
- Sep 28, 20264.27%▲ from 4.15%
- Sep 14, 20264.15%first recorded
No additional details available.
- Oct 9, 20264.27%▲ from 4.11%
- Sep 18, 20264.11%▲ from 4.06%
- Sep 14, 20264.06%first recorded
No additional details available.
- Sep 22, 20264.27%▲ from 4.06%
- Sep 14, 20264.06%first recorded
Bump Option: Not Eligible; $50,000 minimum deposit to open an IRA Jumbo CD. All rates are subject to change without notice. APY* - Annual Percentage Yield. Early withdrawal penalty will reduce earnings on the account. Your account will automatically renew as stated on your Truth-in-Savings Disclosure, Account Receipt, or Renewal Notice. Our Bump Eligible certificates allow members to choose once during the term of the certificate to "bump" their rate, you may request that the rate be increased to the current offered rate of certificates of deposit of the same term length.
- Oct 10, 20264.26%▲ from 3.80%
- Sep 14, 20263.80%first recorded
WSB Traditional CDs
Effective Date: 08/01/2025
Balance: 12 Months - $500
- Oct 5, 20264.25%▲ from 3.85%
- Sep 18, 20263.85%first recorded
No additional details available.
- Oct 9, 20264.25%▲ from 4.00%
- Sep 14, 20264.00%first recorded
Create Account
$1,000,000 max opening deposit. Early withdrawal penalty may apply.
This CD is a fixed rate certificate for the full 12-month term. This offer is for a limited time only, so call or visit our website to open your CD today! Fees, withdrawals, and penalties could reduce the earnings on the account. Interest is paid monthly via ACH or added back at maturity. UPDATED 10-5-26 | 12:02 PM CST
- Oct 7, 20264.25%▲ from 4.15%
- Sep 14, 20264.15%first recorded
Must be a new CD funded of at least $25000 to qualify. No new money needed. APY effective for new CDs opened. Rates may change at any time. Fees may reduce earnings. A penalty may be imposed for early withdrawal. Rate is effective 8/25/2026.
No additional details available.
- Oct 4, 20264.25%▲ from 4.00%
- Sep 20, 20264.00%▲ from 3.85%
- Sep 12, 20263.85%first recorded
No additional details available.
Minimum: $2,500 new money or open qualifying account
No additional details available.
No additional details available.
APY = Annual Percentage Yield. Terms and conditions may apply. Early withdrawal penalties may apply. $5,000+ deposit required for promotional rate.
Effective Date: 10/08/26 through 10/14/26. Stated Interest Rates and APYs for terms of 12 months through 42 months are applicable to IRA Certificates of Deposit as well.
Special CD rates are effective for the initial term only. CD will automatically renew at the base non-special rate in effect at maturity for the corresponding original term.
Tier 1; dividends post at maturity; 2 month dividend penalty for early withdrawal
No additional details available.
- Oct 1, 20264.25%▲ from 4.00%
- Sep 14, 20264.00%first recorded
Annual Percentage Yield of 4.25% for 6 months 4 terms to fit your needs-6, 12, 18, and 24-month special.* Call or stop in for full details.
For minors, minimum term is 12 months; minimum opening balance and minimum to earn dividends is $500.
No additional details available.
Term: 1 year with Epic Premium Checking; Epic Premium Checking relationship rate
- Sep 25, 20264.25%▲ from 4.00%
- Sep 12, 20264.00%first recorded
Banks and Credit Unions: If you identify an incorrect rate or wish to request removal from MonitorBankRates.com, please contact us here.
Tracked Nationwide
About Our 12-Month CD Rate Database
MonitorBankRates tracks 8,073 12-month CD rates from 3,786 institutions across the United States. Our proprietary aggregation system pulls verified rate data directly from each institution’s official website — no estimates, no national averages passed off as real offers.
Every rate listed includes the institution’s Safety Grade (A+ to F), Star Rating (1–5), and Texas Ratio — objective financial health metrics calculated from FDIC and NCUA regulatory data — so you can compare yield and institutional safety in one place.
Current top rate: Southeast Missouri Community Credit Union offers a 12-month CD at 6.14% APY with a minimum deposit of $100. Use the rate table above to compare all current offers.
12-Month CD Rate Trend
Daily national average APY for 12-month CDs
Daily averages compiled from our database of 8,500+ banks and credit unions — updated daily.
National 12-month CD rates rose 0.030 points over the past 7 days to 2.988% APY, up from 2.959% 7 days ago.
12-Month CD Rate Forecast — Next 12 Months
Where are 12-month CD rates headed through October 2027?
Projections based on Fed funds rate futures and historical CD-to-fed-funds spread model. Not financial advice.
CD Calculators
Enter any deposit amount to see exactly how much interest you earn at the end of your 12-month term at today’s top APY.
CD Ladder with 12 Months RungUse a 12-month CD as a core annual rung in your ladder. See how rolling 1-year maturities create a reliable income cycle while keeping a portion of savings liquid.
Early Withdrawal Penalty12-month CDs typically carry a 90–180 day interest penalty for early access. Calculate your actual net return if you need funds before maturity.
12-Month CD vs. High-Yield Savings12-month CD rates often edge above top savings APYs. Compare both side-by-side to see exactly how much more a 1-year commitment earns on your deposit.
How to Find the Best 12-Month CD Rates
What to compare when shopping for a 12-month CD
To find the best APYs on a 12-month CD, start with credit unions and online-only banks — they consistently offer the highest yields because they have lower overhead than traditional brick-and-mortar banks and compete aggressively for deposits.
Always compare the APY (Annual Percentage Yield), not just the interest rate. The APY reflects compounding and is the true measure of what you’ll earn. A CD advertised at 4.75% interest compounding monthly is worth more than one at 4.80% compounding annually.
Also compare the early withdrawal penalty. On a 12-month CD, common penalties range from 30 to 90 days of interest. If you’re unsure whether you’ll need the funds early, a penalty-free no-penalty CD or a high-yield savings account may be a better fit.
When a 12-Month CD Makes Sense
- You have a planned purchase or expense in ~12 months and want to earn while you wait
- You expect interest rates to fall and want to lock in today’s rate short-term
- You want to lock in a fixed rate for a full year without committing to a longer term
- You want FDIC/NCUA protection with a guaranteed fixed return
Consider an Alternative If…
- You may need funds before 3 months → High-yield savings
- Rates are rising and you want to benefit → Variable-rate savings or MMA
- You want check-writing or debit access → Money market account
12-Month CD vs. Other Savings Options
| Feature | 12-Month CD | High-Yield Savings | Money Market | 6-Month CD |
|---|---|---|---|---|
| Rate Type | Fixed APY | Variable APY | Variable APY | Fixed APY |
| Liquidity | Locked 12 months | Anytime | Anytime | Locked 6 months |
| Early Withdrawal | Penalty (30–90 days interest) | None | None | Penalty (90–180 days interest) |
| FDIC / NCUA Insured | Yes (up to $250K) | Yes (up to $250K) | Yes (up to $250K) | Yes (up to $250K) |
| Check / Debit Access | No | Usually no | Often yes | No |
| Best For | Known near-term goal, CD ladder start | Emergency fund, flexible savings | Liquid savings with check-writing | Slightly higher yield, less urgency |
12-Month CD FAQs
What is a 12-Month Certificate of Deposit (CD)?
Are 12-month CD rates higher than regular savings accounts?
Is my money safe in a 12-month CD?
What happens if I withdraw money from a 12-month CD early?
What is APY and how does it differ from the interest rate?
Can I add money to a 12-month CD after opening it?
How can I use a 12-month CD in a CD ladder?
Is a 12-month CD better than a high-yield savings account?
Methodology & Data Sources
Direct-Sourced & Verified CD Rate Data: We aggregate 12-month CD rates nationwide directly from the official websites of banks and credit unions using our proprietary rate aggregation technology. By pulling data straight from the institutions’ own digital properties and manually verifying yields daily, every rate on MonitorBankRates.com is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available 1-year CD yields across the country. We feature a comprehensive mix of financial institutions — from neighborhood credit unions and competitive regional banks to high-yield CDs from large national institutions.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update CD rates daily. Because yields can fluctuate rapidly based on Federal Reserve policy and market conditions, every CD product listed features its own specific “last updated” date for full transparency.
Proprietary Institution Health & Safety Grades: Beyond tracking rates, MonitorBankRates evaluates the financial stability of every listed institution. Our Health Grades (A+ to F) and Star Ratings are composite metrics calculated using objective regulatory data — including the Texas Ratio — ensuring you deposit with secure, reliable institutions.
