Best bank and brokered certificates of deposits with highest APY/interest rate in 2020

More often than not, consumers look for the highest yield FDIC-Insured online CDs among the highly-advertised and well-known large big-name banks such as Bank of America (0.05% APY CDs), Chase (0.01% APY CDs), Citibank (0.15% APY CDs) or Wells Fargo (0.05% APY CDs).

Although those well-known banks offer quality services, their rates are lower compared with their less-advertised online competitors. Below is a list of FDIC-Insured CDs offered online with the highest APY.

CIT Bank High Yield FDIC-Insured Online CD

  • 12 months - 2.20% APY

Open an account: CIT Bank CDs provide a safe, secure way to grow your savings.

  • Minimum opening deposit: $1,000
  • Terms up to 5 years
  • FDIC Insurance (up to applicable limits)
  • No maintenance fees
  • Variety of terms with low minimum balance

Top High Yield Brokered CDs

Highest Yield Brokered Online CDs: TD Ameritrade Brokered CDs

TD Ameritrade Highest Yield CDs
  • 0.900% APY - 3 months term
  • 1.000% APY - 6 months term
  • 1.100% APY - 9 months term
  • 1.358% APY - 1 year term

Open an account: Open TD Ameritrade account and get $0 fee stock trades.

  • Minimum investment for CDs: $2,000
  • There is no minimum to open a new TD Ameritrade account
  • Buying a CD through TD Ameritrade gives you access to a wide variety of issuers
  • CDs are FDIC-insured up to $250,000 per depositor per insured bank, including any interest accrued
  • More: TD Ameritrade review »


Highest Yield FDIC-Insured Online CDs: USAA Bank

USAA Bank High Yiled CDs
  • 0.46% APY - 182 days term
  • 0.46% APY - 1 year term
  • Minimum opening deposit: $250
  • Interest rate is subject to change daily.
  • Interest earned can be added to the CD balance or credited to another account monthly
  • Make additional deposits of $25 or more at any time without extending the maturity date
  • FDIC insured up to applicable limits


Highest Yield FDIC-Insured CDs: Edward Jones

Edward Jones High Yield CDs
  • 0.90% APY on 3 months term with a minimum deposit $1,000.
  • 1.05% APY on 6 months term with a minimum deposit $5,000+.
  • 1.15% APY on 12 months term with minimum deposit $5,000+.

Open an account: Open an account with Edward Jones.


Raymond James Highest Yield Brokered CD

  • 0.90% APY on 3 months term
  • 1.00% APY on 6 months term
  • 1.15% APY on 12 months term

Open an account: Open an account with Raymond James.

  • Minimum opening deposit: $5,000;


Highest Yield FDIC-Insured Online Certificates of Deposit (CDs)

If you are searching for very low-risk investments that can easily be converted into cash, then you might consider certificates of deposit (CDs).


What Is A FDIC-Insured Certificate Of Deposit?

A CD is a special type of deposit account with a bank that typically offers a higher rate of interest than a savings account. In exchange for keeping the money on deposit for the agreed-on term, institutions usually grant higher interest rates than they do on accounts from which money may be withdrawn on demand. Unlike other investments, CDs have federal deposit insurance up to $250,000.


Certificates Of Deposits: Bank vs. Brokered CDs

Brokered CDs are regular CDs, which are issued by banks and other financial institutions and offered through a brokerage firm. There is a wide variety of CDs with a different maturity range and interest rate offered through a broker. That variety of CDs allows investors more flexibility in choosing instruments that best suit their investment objectives.

Like regular CDs, brokered CDs are FDIC-insured up to $250,000 per depositor per insured bank or financial institution.