The best long-term CD rates for March 2024 (up to 5.35% APY)

If you're keeping your money in a regular savings account, you might be leaving money on the table. Right now, regular savings accounts come with an annual percentage yield (APY) of just 0.46% — and, while that allows you to earn at least some interest, there are many better options to choose from.

Take high-yield savings accounts, for instance. These accounts function similarly to regular savings accounts, but the big difference is that the interest rate you can get is typically much higher with a high-yield account. For example, there are high-yield savings accounts that offer up to 5.50% APY today — or about 10 times more than what many regular savings accounts offer.

High-yield savings accounts come with variable interest rates that can change over time, though, which can be a downside in a volatile rate environment. Certificates of deposits (CDs), on the other hand, also offer very high rates right now, but the rates are fixed. So, you won't have to worry about the impact of the rate cuts that are expected to occur mid-year. And, by locking in a rate on one of the long-term CDs outlined below, you'll ensure your earnings for many months, or years, to come. 

Compare today's top CD account options to find the best one for you.

The best long-term CD rates for March 2024 (up to 5.35% APY)

There are dozens of great long-term CD options to choose from this month, including:

18-month CDs

• Fortera Credit Union — 5.35% APY: There is a $1,000 minimum deposit requirement to open this account; an early withdrawal penalty will be charged for accessing the funds in this account before the CD matures
• Life Credit Union — 5.35% APY: There is a $1,000 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 180 days of interest
• Climate First Bank (15-month CD) — 5.34% APY: There is a $500 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 90 days of interest
• Magnifi Financial — 5.25% APY: There is a $2,500 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 180 days of interest
• Technology Credit Union — 5.25% APY: There is a $1,500 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 90 days of interest

2-year CDs

• Magnifi Financial (23-month CD) — 5.25% APY: There is a $2,500 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 180 days of interest
• Credit Human (23-month CD) — 5.20% APY: There is a $500 minimum deposit requirement to open this account; an early withdrawal penalty will be charged for accessing the funds in this account before the CD matures
• First National Bank of America (23-month CD) — 5.15% APY: There is a $1,000 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 180 days of interest
• Department of Commerce FCU — 5.02% APY: There is a $500 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 180 days of interest
• TAB Bank — 5.00% APY: There is a $1,000 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 180 days of interest

Learn about the best CD rates available to you today.

3-year CDs

• Superior Choice Credit Union — 5.00% APY: There is a $500 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 180 days of interest
• Hughes FCU — 4.86% APY: There is a $1,000 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 180 days of interest
• Dow Credit Union — 4.81% APY: There is a $500 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 365 days of interest
• First National Bank of America — 4.81% APY: There is a $1,000 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 360 days of interest
• First Internet Bank — 4.76% APY: There is a $1,000 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 360 days of interest

5-year CDs

• First Internet Bank — 4.61% APY: There is a $1,000 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 360 days of interest
• BMO Alto — 4.60% APY: There is a $0 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 180 days of interest
• Credit Human (59-month CD) — 4.60% APY: There is a $500 minimum deposit requirement to open this account; an early withdrawal penalty will be charged for accessing the funds in this account before the CD matures
• First National Bank of America — 4.55% APY: There is a $10,000 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 182 days of interest
• PIMA FCU — 4.50% APY: There is a $250 minimum deposit requirement to open this account; an early withdrawal penalty will be charged for accessing the funds in this account before the CD matures

10-year CDs

• Equitable Savings and Loan Association — 4.07% APY: There is a $500 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 90 days of interest
• Credit Human — 4.00% APY: There is a $500 minimum deposit requirement to open this account; an early withdrawal penalty will be charged for accessing the funds in this account before the CD matures
• Vio Bank — 2.75% APY: There is a $500 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 3% of the amount withdrawn, plus $25
• EmigrantDirect.com — 2.75% APY: There is a $1,000 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 180 days of interest
• MySavingsDirect — 2.50% APY: There is a $1,000 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 180 days of interest

The bottom line

In today's economic climate, opening a long-term CD account can offer some big benefits to savers — including some of the highest rates we've seen in recent years. And, there are lots of great long-term CD options to choose from, no matter what your budget or needs may be. As you narrow down the options, though, just be sure that you can meet the minimum deposit requirements and that the CD term works for you. If not, you could be stuck paying for fees or early withdrawal penalties that are otherwise easy to avoid.