Five year CDs was the one maturity of the five most popular CD terms that showed a rate decline from May 2014 to June of 2014.  Based on the most recent survey of bank CD rates conducted by, the average rate on the highest yielding five year CDs dipped by 1.2 basis points from one month to the next.  The average rate on the top ten best CD rates available nationally slid down to 2.151% in the first week of June from 2.163% during the first week of the previous month.

The highest five year CD rate available nationally can be found at two banks, Synchrony Bank and EverBank.  Synchrony and EverBank are currently promoting five year term certificates that have an interest rate of 2.30%.  EverBank has a minimum opening deposit of $1,500.00 on the CD account.  Synchrony Bank, the recently rebranded GE Capital Retail Bank, has a minimum deposit of $25,000.00. 

Running five basis points or .05% behind the two bank leaders are the CDs offered by GE Capital Bank, CIT Bank, and Barclays Bank.  All three banks have five year CDs that yield 2.25%.  CIT Bank offers the five year CD account with a minimum deposit requirement of $1,500.00.  GE Capital Bank offers the CD with a minimum deposit amount of $500.00.   Barclays Bank requires no minimum balance to open their bank CDs.

Sallie Mae Bank has the third highest CD rate in the five year term category.  The five year Sallie Mae Bank CD rate is at 2.10% and requires a minimum deposit of $2,500.00.

The bank and bank CD rate information presented may have changed since this publication date.  Interest rates are subject to change at any time, however, the rate in effect when your certificate is opened is guaranteed to maturity.  Check with the banks directly for the most up to date and accurate information as well as any additional terms and conditions.  The Annual Percentage Yields (APYs) listed assumes original deposit and all accumulated interest remain on account for a one year period.

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