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CD rates definition
A certificate of deposit rate, often expressed as an Annual Percentage Yield (APY), is the fixed amount of interest your money earns over a specific period. When you open a CD, you agree to leave your funds untouched for a set term, which can range from a few months to several years. In exchange, the bank or credit union provides a predictable return.
Because the rate is locked in at the time you open the account, you know exactly what your savings will yield when the term ends. This makes CDs a reliable option to keep your money growing steadily over time.
Like other banking instruments, these rates are closely tied to Federal Reserve benchmarks. Banks and credit unions adjust their offers based on the broader U.S. central banking system and their own demand for consumer deposits. Generally, securing the best APY depends on the term length and the minimum deposit you are willing to commit.
What are current CD rates on Raisin?
Bank
Product
APY
Maturity
mph.bank, a division of Liberty Savings Bank, F.S.B., Member FDIC
Member FDIC
Callable CD
4.00%
60 months
$2,000.00
Raisin is not an FDIC-insured bank or NCUA-insured credit union and does not hold any customer funds. FDIC deposit insurance covers the failure of an insured bank and NCUA deposit insurance coverage covers the failure of an insured credit union.
Types of CDs: 6 most common CDs
CDs are immensely popular because they protect your savings from the volatility of the stock market and the general economy. However, before you put your money into one, consider that there are several types of CDs that come with their own set of unique features and benefits. Let’s take a look at the most common types of CDs:
Traditional CDs
Also known simply as CDs or fixed-rate CDs, these are the most basic format in the category. They are essentially time deposits with fixed interest rates and limited liquidity, which means that your deposit is locked in for the period of the deposit.
Bump-up CDs
This type of CD lets you jump to a higher interest rate during the deposit period. Let’s say you opened a 12-month CD account at 2% APY. Six months down the line, you notice that your bank is now offering 2.5% APY on CDs. A bump-up CD lets you request your bank to raise your APY to the new rate at no extra charge or commitment.
Step-up CDs
This is pretty much the same as a bump-up CD. The sole difference is that instead of having to manually request your bank for a bump-up to a better interest rate, it happens automatically when you’ve put your money in a step-up CD.
High-yield CDs
Similar to a high-yield savings account, a high-yield CD offers a substantially higher rate of interest than regular CDs. The catch is that you may be required to make a bigger initial investment or commit to a longer lock-in period in a high-yield CD account.
No-penalty CDs
As the name suggests, these CDs do not require you to pay a penalty if you make a withdrawal before maturity as most other types of CDs do. This is a great option for people who are interested in using a CD as an emergency fund.
Add-on CDs
This is another unique CD that lets you make additional deposits to your account during its term. The minimum add-on amount differs from bank to bank, as does the minimum deposit amount for this type of CD. It offers a great opportunity for people who want to use CDs as a recurring savings instrument.
Beyond the six most common types listed here, there are multiple other CD formats with varying features and benefits. For instance, market-linked CDs, foreign currency CDs, jumbo CDs, IRA CDs, brokered CDs, zero-coupon CDs. Do your research to find out which one suits your requirements the best before investing.
CDs vs. other savings and deposit options
The biggest draw of CDs is that they offer predictable returns at low risk. You know exactly what you’ll earn when your CD matures right at the time of opening your account. That makes them ideal for people who are saving up for retirement or a specific financial goal and cannot afford to risk their principal investment.
On the flip side, interest earned on a CD can seem meager in comparison to certain other savings and investment options that offer tantalizingly high returns. However, these high yields are predicated on you accepting a significantly higher level of risk. What that often means is that not only may you not earn any interest on your investment, you could potentially lose a part or most of your principal.
The bottom line here is that as long as you’re willing to err on the side of caution, CDs are a reliable option to keep your money safe and growing over time.
Explore the best CD options With Raisin
Finding the best CD can be daunting when you consider the sheer number of options available out there. That’s why Raisin makes it easy for you to locate and invest in a CD that meets your specific savings requirements, often at rates multiple times the national average.
We are an online marketplace that lists savings and deposit instruments from federally regulated banks and credit unions across the US. Raisin lets you operate multiple accounts with different financial institutions, all with the comfort of a single log-in.
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*APY means Annual Percentage Yield. APY is accurate as of April 27, 2026. Interest rate and APY may change after initial deposit depending on the terms of the specific product selected. Minimum opening deposit is $1.00.
Raisin is not an FDIC-insured bank, and FDIC deposit insurance only covers the failure of an insured bank.
Raisin is not an NCUA-insured credit union. NCUA deposit insurance only covers the failure of an insured credit union.
Raisin does not hold any customer funds. Customer funds are held in various custodial deposit accounts. Each customer authorizes the Custodial Bank to hold the customer’s funds in such accounts, in a custodial capacity, in order to effectuate the customer’s deposits to and withdrawals from the various bank and credit union products that the customer requests through Raisin.com. The Custodial Bank does not establish the terms of the bank or credit union products and provides no advice to customers about bank or credit union products offered by the applicable bank or credit union through Raisin.com. Each customer also authorizes the Service Bank to move funds among the various banks and credit unions at the customer’s request. First International Bank & Trust (FIBT), Member FDIC, is the Service Bank. Bell Bank and Starion Bank, each Member FDIC, are the Custodial Banks.
†Based on $250,000 in FDIC or NCUA insurance coverage per insurable category of ownership at each partner bank or credit union on the Raisin platform (each a "Product Bank"), when aggregated with all other deposits held by you at such Product Bank and in the same insurable category. Deposits made through Raisin will be eligible to receive deposit insurance from the FDIC or the NCUA (each a "Deposit Insurer") in accordance with and up to the maximum amount permitted by law at each Product Bank. Raisin is not a bank or credit union and does not hold any customer funds. Funds are held at FDIC-insured banks and NCUA-insured credit unions. Deposit insurance covers the failure of an insured bank or credit union. Certain conditions must be satisfied for pass through deposit insurance coverage to apply. Customers may choose to deposit funds with identically registered accounts at different Product Banks on the Raisin platform to be eligible for Deposit Insurer coverage up to $10 million for individual accounts and $20 million for joint accounts when at least 40 Product Banks are utilized. Please be aware, however, that any deposits you have at a Product Bank, whether through the Raisin platform or outside the Raisin platform, that you may hold in the same capacity (such as in an individual capacity or joint capacity) count toward the applicable Deposit Insurer's deposit insurance maximum amount, and any such amounts that you hold in the same capacity at a Product Bank that exceed the maximum insurance coverage by the applicable Deposit Insurer will not be insured. For more information on FDIC deposit insurance, please see here. For more information on the NCUA share insurance fund, please see here. You are solely responsible for monitoring the amount of funds you have on deposit at each a Product Bank, whether through the Raisin platform or outside the Raisin platform, to confirm that the deposits you hold in the same capacity at each Product Bank do not exceed the maximum deposit insurance coverage provided by the applicable Deposit Insurer.