How do you know if you're choosing the right bank or credit union for your CD? When a financial institution is federally insured, up to $250,000 per depositor is secure in a bank account. Although Silicon Valley Bank, Signature Bank, and First Republic Bank have recently been shut down, keep in mind money is safe at a federally insured financial institution. Our top picks for CDs are protected by FDIC or NCUA insurance. These are our picks for the best no-penalty CDs. Marcus 13 Month No-Penalty CD: 4.35% APY.America First Credit Union Flexible Certificate: 4.35% APY.CIT Bank No Penalty 11-Month CD: 4.90% APY.Technology Credit Union 5 Month No Penalty CD, powered by Raisin: 5.06% APY.Ponce Bank 4 Month No Penalty CD, powered by Raisin: 5.15% APY.Mission Valley Bank 3 Month No Penalty CD, powered by Raisin: 5.18% APY.Most of our top picks for no-penalty CDs have low minimum opening deposits, competitive interest rates, and/or a variety of term options. Read Our Review A looong arrow, pointing right
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