Best CD Rates Analysis and Ranking Methodology

Forbes Advisor has released its list of the best CD and share certificate accounts for 2021, after analyzing 142 accounts across 84 financial institutions. The list includes a mix of traditional brick-and-mortar banks, online banks, and credit unions, with accounts ranked on 11 data points including APY, minimums, compound interest schedule, customer experience, digital experience, available terms, and overall availability.

Accounts with higher APYs were ranked higher on the list, while minimum deposit requirements of $10,000 or higher had a negative impact on scores. Accounts with daily compounding interest schedules were also favored over those with monthly or quarterly schedules. To be included on the list, the account must be nationally available.

The list features a wide range of financial institutions, including well-known names such as Ally Bank, Bank of America, Capital One, Chase, and Wells Fargo, as well as online banks like Marcus by Goldman Sachs and Synchrony Bank. Credit unions such as Navy Federal Credit Union and PenFed also made the cut.

For more information on Forbes Advisor’s rating and review methodology, readers can check out their guide on How Forbes Advisor Reviews Banks. The list serves as a valuable resource for those looking to maximize their savings through CD and share certificate accounts.