Today’s Best 1-Year CD Rates

Shawn Plummer

CEO, The Annuity Expert

Certificates of deposit (CDs) are a great way to invest your money and earn interest with low risk. They offer higher interest rates than savings accounts and are considered a safe and reliable investment option. One of the most popular CD terms is one year, a good balance between earning a decent return and maintaining liquidity. In this comparison, we will explore the best 1-year CD rates available in the market and help you make an informed decision about your investment.

Earn The Highest Interest Rates On Savings Today

Fixed annuities are almost identical to Certificates of Deposit (CDs) accounts and provide higher interest rates and penalty-free withdrawals for income.

TermInsurance CompanyAPY
N/AMoney Market Account – Optimum Bank5.26%
N/AMoney Market Account – FVC Bank5.26%
N/ASavings Account – CloudBank 24/7 5.26%
12 MonthsBread Savings CD5.60%
48 MonthsClear Spring Fixed Annuity5.15%
5 YearsAthene Fixed Annuity5.30%
10 YearsEquitrust Fixed Annuity6.00%
*Fixed annuities are only for saving money to use in retirement.

Disclaimer: This is a review. The Annuity Expert is not associated with a bank or credit union. However, fixed annuities are sold at most financial institutions. We aim to help you find the highest interest rates for your retirement savings. We may receive a small referral fee if you purchase something using a link in this guide.

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The Best 1-Year CD Rates Today

Here are some of the best 1-Year CD rates available:

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Understanding 1-year CD rates

Before we dive into the best 1-year CD rates available, let’s understand what 1-year CD rates are. A 1-year CD is a type of time deposit that earns a fixed interest rate over 12 months. The interest rate is predetermined at the time of purchase and remains the same throughout the term. You can withdraw your money or renew the CD for another term at the end of the term. The interest earned is subject to federal taxes.

Factors affecting 1-year CD rates

Several factors affect the interest rate of 1-year CDs. The primary factor is the current economic conditions, including inflation and the Federal Reserve’s monetary policies. The higher the inflation, the higher the interest rates will be to compensate for the loss of purchasing power. Similarly, CD rates also tend to rise when the Fed raises interest rates to control inflation. Another factor is the bank’s financial stability and credit rating. Banks with higher credit ratings offer better rates to attract more customers.

How to find the best 1-year CD rates

Finding the best 1-year CD rates requires research and comparison. You can start by checking the rates your local banks and credit unions offer. However, comparing these rates with online banks and brokerage firms that typically offer higher rates due to lower overhead costs is essential. You can use online comparison tools to compare rates and terms different institutions offer. Additionally, you should consider the bank’s reputation, FDIC insurance coverage, and early withdrawal penalties before choosing a CD.

Pros and cons of 1-year CDs

Before investing in a 1-year CD, it’s essential to weigh the pros and cons to make an informed decision.



  • Limited liquidity
  • Early withdrawal penalties
  • Fixed interest rate, missing out on higher rates


Investing in a 1-year CD can be a great way to earn higher interest rates with low risk. However, finding the best 1-year CD rates requires research, comparison, and careful consideration of the bank’s reputation and early withdrawal penalties. Our list of the best CD rates can be a good starting point for your research, but it’s essential to conduct your research and evaluate your financial goals before making an investment decision.

It’s also important to remember that 1-year CDs offer limited liquidity and fixed interest rates, which may not be suitable for everyone. If you need access to your funds or prefer more flexibility with your investments, a savings account or a shorter-term CD may be a better option.

Investing in a 1-year CD can be an intelligent move to earn higher interest rates and achieve your financial goals. With the proper research and evaluation, you can find the best 1-year CD rates that suit your needs and provide a safe and reliable investment option.

Best 1-Year Cd Rates

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Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

The Annuity Expert is an online insurance agency servicing consumers across the United States. My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you. 

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