Best 5-Year CD Rates in Margate, Florida, FL

You are viewing rates from banks across Margate

Below are 5-year CD Rates from banks that are located in Margate, { Florida}. Five Year Certificates of Deposit (CD) are generally the longest term CD that most banks will offer. They tend to offer the highest rates but require the longest commitment. Five year CDs are especially popular in a declining interest rate environment as depositors can lock money in at the highest rate possible for the longest period of time. They are also popular with depositors who are willing to lock up money for five years in return for extra yield.

Margate, FL - December 26, 2024

5 Year CD National Average : 0.92% ^?

Banks	APY	MIN	MILES ^?
Raymond James Bank	3.85%	$5,000	-	Learn More Add Review
Rate History: 4.05% → 4.00% → 4.05% → 3.90% → 3.85%
Beal Bank USA	3.80%	$1,000	-	Learn More
Rate History: 3.95% → 3.85% → 3.80%
george \| Feb 9, 2021 The wonderful assistants at Beal Bank are wonderful. Rebeca took great care of me and made sure all my concerns were addressed. Read More Reviews (3)
Popular Bank	3.75%	$1,000	-	Learn More
Rate History: 3.50% → 4.00% → 3.90% → 3.75%
Dr. E. F. Ayers; e.f.ayers@outlook.com \| Oct 2, 2015 I have a CD maturing on 11/15 please email your CD Rates and contact info. Read More Reviews (2)
Amerant Bank, Formerly Mercantil Bank	3.50%	$500	-	Learn More
Rate History: 2.75% → 2.75% → 4.00% → 3.75% → 3.50%
Molddave \| Aug 30, 2023 Try to open account on line make you use PLAID to xfer money PLAID doesn't connect with many banks, Cannot do over phone. Discover, Penfed all ok this bank is useless. I had acct before still bad. Stay aw... Read More Reviews (2)
Axiom Bank, National Association	2.50%	$500	-	Learn More
Sara Jennings \| Dec 26, 2021 SJennings Read More Reviews (4)
American Commerce Bank, National Association	2.50%	$500	-	Learn More Add Review
Citizens First Bank	2.28%	$2,500	-	Learn More
David Klemann Sr. \| Dec 8, 2023 We have been banking with Citizen's First for 4 years. Their branches, service, website, and employee attitudes are and always have been excellent. Their branches are warmly personal with free buttered po... Read More Reviews (1)
Citibank, National Association	2.00%	$0	-	Learn More
Azoic \| Feb 25, 2022 I joined Citi with a Costco-VISA card. An Accelerate followed, and then a checking account. Costco-VISA is necessary for using a credit card at Costco, otherwise cash is necessary. Accelerate Savings w... Read More Reviews (11)
JPMorgan Chase Bank, National Association	2.00%	$10,000	-	Learn More
Rate History: 2.00% → 2.50% → 2.00%
Hayley7788d@outlook.com \| Jan 2, 2023 Terrible customer service by investment side. Fees too high , too full of themselves Read More Reviews (18)
Union State Bank	1.75%	$500	-	Learn More Add Review
Madison County Community Bank	1.56%	$100,000	-	Learn More Add Review
First National Bank of Pasco	1.51%	$10,000	-	Learn More Add Review
Third Federal Savings and Loan Association of Cleveland	1.50%	$500	-	Learn More Add Review
Madison County Community Bank	1.41%	$10,000	-	Learn More Add Review
BMO Bank National Association	1.35%	$1,000	-	Learn More
Rate History: 0.25% → 1.35% → 4.00% → 1.35%
Beenthere \| Jan 29, 2024 Tried to enter information on line to open a 5 year CD, multiple time and wasn't accepted. Talked to a live person who was of no help at all. My credit score is over 800 and I have plenty of money in oth... Read More Reviews (9)
Woodforest National Bank	1.35%	$500	-	Learn More
Rate History: 1.00% → 1.35%
Jabbroadway42 \| Nov 17, 2020 Is notarie services available today at a woodforest on wilkinson blvd Read More Reviews (2)
Surety Bank	1.31%	$10,000	-	Learn More Add Review
Community Bank of the South	1.26%	$10,000	-	Learn More Add Review
Marine Bank & Trust Company	1.11%	$10,000	-	Learn More Add Review
Natbank, National Association	1.11%	$100,000	-	Learn More Add Review
First National Bank of Wauchula	1.11%	$100,000	-	Learn More Add Review
FirstBank Puerto Rico	1.10%	$10,000	-	Learn More
wlsjacobson \| Jul 31, 2017 Outstanding bank, management and client service. Well run and financially very strong Read More Reviews (2)
Mainstreet Community Bank of Florida	1.06%	$10,000	-	Learn More
melissaowens \| Apr 1, 2022 This bank is the absolute worst along with [name redacted] and [name redacted]. Their communication is horrible, they lie and are negligent. They told me I was approved for a commercial loan so I moved for... Read More Reviews (3)
First Bank	1.06%	$10,000	-	Learn More Add Review
Pineland Bank	1.03%	$10,000	-	Learn More Add Review
BankFlorida	1.01%	$10,000	-	Learn More Add Review
FineMark National Bank & Trust	1.01%	$10,000	-	Learn More
jpchamorro \| Apr 5, 2020 great Read More Reviews (1)
Bank of Belle Glade	1.00%	$1,000	-	Learn More Add Review
South State Bank, National Association	1.00%	$500	-	Learn More
Justice \| Jul 22, 2021 This is a criminal lender and the worst bank. They merged with CenterState Bank.. They have made our lives miserable with a wrongful, fraudulent foreclosure. We will be starting a Website with all of the ... Read More Reviews (2)
Florida Capital Bank, National Association	1.00%	$10,000	-	Learn More Add Review
American National Bank	1.00%	$10,000	-	Learn More Add Review
First National Bank of Wauchula	1.00%	$10,000	-	Learn More Add Review
Grove Bank & Trust	0.95%	$10,000	-	Learn More Add Review
Lafayette State Bank	0.91%	$10,000	-	Learn More Add Review
Helm Bank USA	0.90%	$10,000	-	Learn More Add Review
United Fidelity Bank, fsb	0.90%	$10,000	-	Learn More Add Review
Heartland National Bank	0.85%	$1,000	-	Learn More Add Review
MidSouth Bank	0.85%	$10,000	-	Learn More
Chadpatt \| Jun 14, 2021 I have banked with Midsouth for 4 years. I deposited a check that was for $6,000. I explained at the time of the deposit that I needed the mo ur available for my sons surgery that was in a few days. They t... Read More Reviews (1)
Academy Bank, National Association	0.80%	$10,000	-	Learn More
Fran1 \| Feb 4, 2020 Academy was great helping me open a new account Read More Reviews (5)
OptimumBank	0.75%	$1,000	-	Learn More
nino \| Nov 11, 2021 nino Read More Reviews (1)
Sunstate Bank	0.75%	$10,000	-	Learn More Add Review
ServisFirst Bank	0.71%	$10,000	-	Learn More Add Review
First American Bank	0.70%	$10,000	-	Learn More Add Review
Wauchula State Bank	0.70%	$10,000	-	Learn More Add Review
PeoplesSouth Bank	0.70%	$10,000	-	Learn More Add Review
MidWestOne Bank	0.65%	$10,000	-	Learn More Add Review
Sunrise Bank	0.65%	$10,000	-	Learn More Add Review
Trustmark National Bank	0.65%	$10,000	-	Learn More
trbf15 \| Nov 4, 2020 Transfer cds to checking. Trustmark Madison ok, Not, 6 figures deposit lost for 6 days they say due to scanner error. Then when we go to branch office mgr. all huffy tht error upset because of their mist... Read More Reviews (1)
1st Source Bank	0.65%	$500	-	Learn More Add Review
Armed Forces Bank, National Association	0.60%	$10,000	-	Learn More
BENNIE BROOKS \| Mar 25, 2015 OLIVER NORTH AIR LINES GOVERNOR BLANCO Read More Reviews (2)
United Southern Bank	0.60%	$1,000	-	Learn More Add Review
City National Bank of Florida	0.60%	$10,000	-	Learn More
danioly24@icloud.com \| Jul 31, 2016 This Danny Burgess from Dalton. Ha. 30720 I am nominee next to kin. To Mrs. Endriani pipper and beneficidery. With your bank I want know. If you have received. The letter of funds release sent to ... Read More Reviews (1)
Banco do Brasil Americas	0.60%	$10,000	-	Learn More Add Review
Cogent Bank	0.60%	$10,000	-	Learn More Add Review
The First, A National Banking Association	0.60%	$10,000	-	Learn More Add Review
Centennial Bank	0.55%	$10,000	-	Learn More
Asj \| Nov 15, 2020 Do they? Read More Reviews (1)
The Bank of Tampa	0.55%	$100,000	-	Learn More Add Review
Community Bank of Mississippi	0.55%	$10,000	-	Learn More Add Review
Intracoastal Bank	0.55%	$100,000	-	Learn More Add Review
Southeastern Bank	0.50%	$10,000	-	Learn More Add Review
Liberty Savings Bank, F.S.B.	0.50%	$10,000	-	Learn More Add Review
Seacoast National Bank	0.50%	$10,000	-	Learn More
Jason Wach \| Aug 22, 2019 Despite a perfect payment record of their Line of Credit during Four Years, Seacoast Bank arbitrarily sent a demand letter threatening legal action if I do not pay $ 39,000 immediately. The only option off... Read More Reviews (1)
American Momentum Bank	0.50%	$10,000	-	Learn More Add Review
FNBT BANK	0.50%	$10,000	-	Learn More
Mark2 \| Oct 2, 2020 O stars! Horrible bank Read More Reviews (2)
Desjardins Bank, National Association	0.45%	$100,000	-	Learn More Add Review
The Bank of Tampa	0.45%	$10,000	-	Learn More Add Review
Natbank, National Association	0.40%	$10,000	-	Learn More Add Review
CCB Community Bank	0.40%	$500	-	Learn More Add Review
Intracoastal Bank	0.40%	$10,000	-	Learn More Add Review
First National Bank Northwest Florida	0.40%	$500	-	Learn More Add Review
U.S. Bank National Association	0.40% 0.25%	$1,000 $500	-	Learn More
Ugg \| Jun 12, 2023 US Bank reported me to dult Protective Services because my husband is 85 and I am63. He got sick and went into a nursing hime for 3 months. My husband always handled the financial affairs. I had to take ov... Read More Reviews (2)
First Federal Bank	0.35%	$100,000	-	Learn More Add Review
Desjardins Bank, National Association	0.35%	$10,000	-	Learn More Add Review
Capital City Bank	0.35%	$10,000	-	Learn More
Scrappy \| Mar 10, 2021 HORRIBLE !!!! JUST RUN AS FAST AS YOU CAN AWAY FROM THIS BANK..Save yourself the hassle of dealing with them. Read More Reviews (1)
Sanibel Captiva Community Bank	0.30%	$10,000	-	Learn More Add Review
Renasant Bank	0.25%	$10,000	-	Learn More
rand \| Mar 25, 2019 CDs shown are not offered in Knoxville area Read More Reviews (1)
First Federal Bank	0.25%	$10,000	-	Learn More Add Review
Interamerican Bank, A FSB	0.25%	$10,000	-	Learn More Add Review
Citizens Bank and Trust	0.25%	$10,000	-	Learn More Add Review
Ameris Bank	0.20%	$10,000	-	Learn More
COLETTE B \| May 30, 2022 I HAVE TO AGREE WITH THE OTHER REVIEWERS. THIS BANK HAS THE WORST CUSTOMER SERVICE OF ALL TIME. I HAD NO CHOICE BUT TO GO HERE... IF THERE'S ANY WAY YOU CAN AVOID, IT IS HIGHLY RECOMMENDED. LET ME GIVE ... Read More Reviews (4)
Comerica Bank	0.20%	$1	-	Learn More
Cory,Baldwin \| Oct 18, 2016 IF the Cd's our that high then way i'm i the last to find out what The apys are. Read More Reviews (1)
First-Citizens Bank & Trust Company	0.15%	$500	-	Learn More
MrBond \| Feb 25, 2023 I have been working for this company more than 5 years. I would not recommend any investment with First Citizens Bank. They are the worst performer on the market based on the customer and employee reviews... Read More Reviews (3)
First Horizon Bank	0.10%	$1,000	-	Learn More
D R Lineberger \| Dec 30, 2018 Garden14 Read More Reviews (1)
Anthem Bank & Trust	0.10%	$10,000	-	Learn More Add Review
Centennial Bank	0.10%	$10,000	-	Learn More
Asj \| Nov 15, 2020 Do they? Read More Reviews (1)
TrustCo Bank	0.10%	$500	-	Learn More
Mark Fitzpatrick \| Apr 4, 2016 I been with trustco for years and it is well run. They really are a home town bank. As a small business person i appreciate the business card stand they have in the branches for there customers. I was w... Read More Reviews (1)
KeyBank National Association	0.05%	$2,500	-	Learn More
Rate History: 0.03% → 0.05%
Seeko \| Mar 28, 2023 On line banking gives a confirmation number when paying bills. But it doesn’t confirm that the bill will be paid only that they have the information. Ridiculous. Read More Reviews (2)
Regions Bank	0.05% 0.01%	$2,501 $2,500	-	Learn More Add Review
Rate History: 0.03% → 0.05%
PNC Bank, National Association	0.03%	$25,000	-	Learn More
GAM \| May 18, 2019 Had checking and savings for years when living in Philly. Went into PNC 2.35 APY high yield savings. They have thus far maintained rate. Easy web site and great customer phone service. Still maintain check... Read More Reviews (1)
Bank of America, National Association	0.03%	$100,000	-	Learn More
Treasure \| Jul 24, 2023 BOFA is a den of people thieves camouflaged as bank operatives. There’s a soon to be uncovered carrel of money laundry there. They took all my money and don’t want to release it to me for no particular... Read More Reviews (7)
Fifth Third Bank, National Association	0.01%	$500	-	Learn More
Juan Ricardo \| Nov 12, 2018 Helpful w/$ Read More Reviews (5)

All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

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PRODUCT INFORMATION

Five Year CDs - Branch Banks 2024

Five-year CDs are the big kahuna of the CD world. While banks may offer six-year, seven-year, or even 10-year CDs, the five-year is the longest of the most commonly offered terms. The 5-year CD is therefore often the highest offer at your local bank. Therefore, the temptation for those looking for yield is to open one, deposit money, and forget about it for five years. This could be a mistake. In rising rate environments a five-year CD may not be a good investment.

Safety

Like every other CD term, five year CDs from FDIC insured banks are protected up to FDIC limits (generally $250,000 per account holder per bank). If your deposit is over the FDIC limit then you may not receive the uninsured money in case of a bank failure.

Inflation

The principle threat to a a five year CD is inflation. If the CD is opened in a low rate environment, and rates and inflation subsequently rise, then inflation will erode the value of the certificate of deposit over its five years. For example, if a depositor opened a five year CD in year 1 with a yield of 2.05% APY and inflation at 1.5%, then the real return is .55 percentage points. But if inflation rises the next year to 2.5% and stays there for the next four years, then the CD in real terms is losing money every year: 2.05% - 2.5% = -.45%.

While it is impossible for anyone to predict too far into the future, savers should be cognizant of the economic environment before locking up money for a five year time-period. Our rate analysis page provides some insight into where we think rates will go.

On the other hand, if rates are falling and will continue to do so for some time due to an economic recession then it makes sense to lock in a higher rate with a five year CD. Savers who opened five year CDs in 2008 immediately after the financial crisis were able to lock in rates in the 6% range, a great move considering two years later a five year CD paid below 3%.

Interest

Five-year CDs currently pay about 1.00% more in interest than a one year CD. In general, CDs of this duration are best opened as part of a laddered CD portfolio or if the depositor thinks that rates will either stagnate or drop over the next couple of years.

Opening a Five Year CD

Opening a five year CD in a branch is relatively easy and similar to every other CD term. Most banks require the customer be a resident of the United States and most branch-based banks ask that the account be opened in the bank. Funding can be performed by transferring money that is already located at that bank or by check or ACH transfer from another bank. The CD can be opened that day and the rate locked.

With longer term CDs, savers should make sure they put a record of the CD in a safe place and that if they move, they forward their new address to the bank. In cases where the bank cannot find the CD holder, the bank may hand the funds over to a state authority as a lost deposit, and it will require onerous paperwork to reclaim the money.

ADVANTAGES AND DISADVANTAGES OF FIVE YEAR CDs

Advantages of five year CDs

5 year CDs provide the highest rate of the common CD terms.
The return is fixed for five years, which is an advantage in a flat or falling rate environment.

Disadvantages of five year CDs

The money is locked away for five years and cannot be withdrawn without a substantial penalty.
In a rising rate environment, inflation will reduce the value of the money in the CD over time.
Branch CDs require the saver to visit a branch and be subjected to cross-sell pitches and other marketing tactics.

All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, please visit the FDIC website.

To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.

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Margate, Florida CD Rates – 5-Year

PRODUCT INFORMATION

Five Year CDs - Branch Banks 2024

Safety

Inflation

Interest

Opening a Five Year CD

ADVANTAGES AND DISADVANTAGES OF FIVE YEAR CDs

Advantages of five year CDs

Disadvantages of five year CDs

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