You may not have even known that Goldman Sachs offered banking products to the everyday customer. It was only a couple short years ago that the historically exclusive institution introduced its online banking subsidiary. This online bank — which was then called GS Bank — was made available to us “small fish,” along with a range of enviable interest rates. The bank’s name has since been changed to Marcus, but the rates are still just as impressive. Not only do their savings accounts offer returns higher well above average, but their CD rates are some of the best around. Minimums are low and terms are available to suit any needs.

High-yield CDs from Marcus:

• $500 minimum deposit to open a CD
• Terms range from 6 months to 6 years, with a 13-month No Penalty CD option

Funding Options:

• Electronic transfer from existing Marcus savings
• Electronic transfer from external bank account
• Mail in a check
• Domestic wire transfer

Interest Rates:

• Current interest rates range from 0.15% to 0.80% APY (as of October 11, 2021)
• 10-day rate guarantee: you’ll get the best rate offered within 10 days of opening and funding your account. So if rates go up a week later, you don’t lose out.

Early withdrawal penalties:

• Term length less than 12 months: penalty is 90 days simple interest
• Term length between 12 months and 5 years: penalty is 270 days simple interest
• Term length greater than 5 years: penalty is 365 days simple interest
• No Penalty CD option: Available only with a 13-month term

There are no branch locations for Marcus by Goldman Sachs.

Discover Bank is yet another institution you may not have known exists… let alone that it offers some of the best CD interest rates around.Most people know of Discover because of the company’s credit card line. Discover Bank, however, is an online subsidiary that offers high-yield returns on a number of financial products. And if you’re on the market for a CD that has flexible terms and an impressive interest rate, you don’t need to look further.

High-Yield CDs from Discover Bank:

• $2,500 minimum deposit to open
• Terms range from 3 months to 10 years

Funding Options:

• Electronic transfer from existing Discover Bank account
• Electronic transfer from external bank account
• Mail in a check
• Domestic wire transfer

Interest Rates:

• Current interest rates range from 0.20% to 0.80% APY (as of October 11, 2021)

Early withdrawal penalties:

• Term length less than 12 months: penalty is 3 months simple interest
• Term length between 12 months and <4 years: penalty is 6 months simple interest
• Term length between 4 years and <5 years: penalty is 9 months simple interest
• Term length between 5 years and <7 years: penalty is 18 months simple interest
• Term length greater than 7 years: penalty is 24 months simple interest
• No-penalty CD option: Not available

There is one local branch for Discover Bank, located in Greenwood, Delaware

A bank with roots going back over 300 years, Barclays has been offering reliable financial products for longer than any of us can remember. These days, they also offer online CDs with well-above-average returns and various term lengths.

High-Yield CDs from Barclays Bank:

• No minimum deposit to open
• Terms range from 3 months to 5 years

Funding Options

• Electronic transfer from existing Barclays account
• Electronic transfer from external bank account
• Mail in a check
• Domestic wire transfer

Interest Rates

• Current interest rates range from 0.10% to 0.25% APY (as of October 11, 2021)

Early withdrawal penalties:

• Term length less than 24 months: penalty is 90 days simple interest
• Term length 24 months or greater: penalty is 180 days simple interest
• No-penalty CD option: Not available

There are talks of branches being built in the U.S., but they are currently only located in the U.K. In America, Barclays Bank is an online-only entity.

If you’re looking to really maximize your CD options, Ally has a variety to choose from. Whether you want something more traditional (like their High Yield CD) or want to plan for the unexpected (with a No Penalty CD), this bank has you covered.

CD Options from Ally Bank:

• High Yield CD
• Raise Your Rate CD
• No-Penalty CD

All three CD options are available with no minimum deposit, though you may snag a higher interest rate with a higher deposit. The terms offered vary depending on which type of CD you choose.

Term Lengths:

• High Yield CD: available between 3 months and 5 years
• Raise Your Rate CD: available as a 2-year or 4-year CD option
• No-Penalty CD: only available as an 11-month certificate

Funding Options:

• Electronic transfer from existing Ally account
• Electronic transfer from external bank account
• Mail in a check
• Domestic wire transfer

Interest Rates:

• High Yield CD: rates range from 0.15% to 0.80% APY (as of October 11, 2021)
• Raise Your Rate CD: rate is currently 0.55%, but this CD gives you the option to bump up your rate once within a 2-year term or twice within a 4-year term, if rates go up
• No-Penalty CD: rates currently at 0.50% APY
• All Ally CDs offer a 10-day rate guarantee, so if the rate goes up the week following the funding of your new account, you’ll automatically get the higher rate.

Early Withdrawal Penalties:

• Term length less than 3 years: penalty is 60 days simple interest
• Term length of 3 years: penalty is 90 days simple interest
• Term length of 4 years: penalty is 120 days simple interest
• Term length of 5 years or more: penalty is 150 days simple interest
• No-Penalty CD option: Funds can be withdrawn at any time after the first 6 days of opening and funding your account, without penalty.

There are no local Ally Bank branches, but you can manage your account online or through their mobile app, or talk to a live person 24/7.

A subsidiary of Capital One Bank, Capital One 360 is an online-only bank. It offers easy-to-use banking products with a strong web/mobile platform, along with competitive CD rates. Of course, you could always get your CDs through Capital One Bank… but you’ll get significantly better returns by choosing their online-based entity.

High Yield CDs from Capital One 360:

• Available in terms from 6 months to 60 months
• Minimum deposit: No minimum balance required to open a CD or earn stated interest rates
• You can open up to 50 Capital One 360 CDs at once

Funding Options:

• Electronic transfer from existing Capital One 360 account
• Electronic transfer from external bank account
• Mail in a check
• Domestic wire transfer

Interest Rates:

• High Yield CDs: interest rates range from 0.20% to 0.80% APY (as of October 11, 2021)
• Interest rates jump significantly at the 12-month CD mark; if you plan to save for less than that, a high yield savings account is your more lucrative option.

Early Withdrawal Penalties:

• Term length 12 months or less: penalty is 3 months simple interest
• Term length greater than 12 months: penalty is 6 months simple interest
• No-Penalty CD option: Not available

Capital One 360 is an online bank, and there are no local branches. However, you are able to utilize certain Capital One Bank branches for your in-person financial needs. 360 also offers an excellent web platform and mobile app, making online banking easier than ever.

A prior subsidiary of GE Capital, Synchrony Bank has been providing banking customers with a variety of savings products for three decades now. They offer high-yield savings with interest rates that are four to five times the national average, from their online platform.

High-yield CDs from Synchrony Bank:

• $2,000 minimum deposit to open
• Terms range from 3 months to 5 years

Funding Options:

• Electronic transfer from existing Synchrony account
• Electronic transfer from external bank account
• Mail in a check
• Domestic wire transfer

Interest Rates:

• Interest rates for high-yield CDs at Synchrony Bank range from 0.15% to 0.85% APY (as of October 11, 2021)
• The longer you hold your money in a CD, the higher the rate will be.

Early withdrawal penalties:

• Term length 12 months or less: penalty is 90 days simple interest
• Term length greater than 12 months but less than 48 months: penalty is 180 days simple interest
• Term length greater than 48 months: penalty is 365 days simple interest

Synchrony Bank does not have local branches. CDs can be opened online or over the phone.

Options are a good thing, especially when it comes to picking the savings product(s) that fit your financial needs. And if you’re looking at CDs from CIT Bank, options are exactly what you’ll get: they offer three different types, depending on exactly how you plan to save your money.

CD Types Offered by CIT Bank:

• High Yield Term CDs
• Jumbo CDs
• No-Penalty CDs

Terms and Minimums:

• High Yield CDs: available in terms from 6 months to 5 years. Minimum opening deposit, $1,000
• Jumbo CDs: available in terms of 2 years to 5 years. Minimum opening deposit, $100,000
• No-Penalty CDs: available in 11-month terms. Minimum opening deposit, $1,000

Funding Options

• Electronic transfer from existing CIT Bank account
• Electronic transfer from external bank account
• Mail in a check
• Domestic wire transfer

Interest Rates:

• High Yield CDs: interest rates range from 0.30% to 0.50% APY (as of October 11, 2021)
• Jumbo CDs: interest rates range from 0.40% to 0.50% APY (as of October 11, 2021)
• No-Penalty CDs: interest rate is 0.30% APY (11-Month CD)(as of October 11, 2021)

Early Withdrawal Penalties:

• Term length up to one year: penalty is 3 months simple interest
• Term length of 1 year up to 3 years: penalty is 6 months simple interest
• Term length of 3 years or more: penalty is 12 months simple interest
• No-Penalty CD option: Funds can be withdrawn beginning with the sixth day following your initial deposit, without penalty.

CIT Bank is an online bank, and there are no local branches. However, they offer strong online and mobile web banking platforms, to make managing your CDs (and other accounts) easy.