Best CD Rates in Missouri for February 2024

CDs are a great way to grow your assets without any risk.

The best CD rates in Missouri reach 5.0% or higher, allowing you to earn compound interest and grow your funds easily. Here’s everything you need to know about the best CD rates for the highest earnings.

Best CD Rates in Missouri

Finding the best CD rates in Missouri means understanding minimum deposit requirements, withdrawal penalties, and when CDs renew. We’ve compiled all the necessary information below to help you earn the most interest on your funds.

  1. CIBC: 5.62% APY
  2. Valley Direct: 5.60% APY
  3. Bread Savings: 5.50% APY
  4. Ponce Bank: 5.50% APY
  5. Sallie Mae: 5.40% APY
  6. Blue Federal Credit Union: 5.25% APY
  7. Quontic Bank: 5.05% APY
  8. Discover® Bank: 5.00% APY
  9. CIT Bank: 5.00% APY
  10. First Tech: 4.91% APY

1. CIBC cibc Logo

  • Minimum Deposit: $1,000
  • APY: 4.20% to 5.62%
  • Terms: 9 to 30 months

CIBC has branches in Missouri, but their Agility Online CD is strictly an online program so that you can open an account from anywhere. The CDs have high APYs with terms ranging from 9 to 30 months.

There are no monthly maintenance fees, and rates are fixed. They offer two APYs for each term, one for balances below $25,000 and one above, but all rates are highly competitive.

CIBC offers 24/7 access to your accounts online or on the mobile app, and they are FDIC-insured by a bank with 150 years of experience.


  • Competitive APYs
  • Options for short and long-term goals
  • FDIC insured


  • High penalties if you withdraw early
  • Interest compounds monthly


2. Valley Direct valley national bank Logo

  • Minimum Deposit: $500
  • APY: 4.60% to 5.60%
  • Terms: 12 to 36 months

If you worry about interest rates changing while your money is in a CD, check out the variable rate CD at Valley Direct that requires only a $500 minimum deposit.

The term is for 36 months, so you must ensure you can lock up your funds for that long, but it keeps your rate 0.1% higher than the Federal Funds Target Rate Upper Limit.

If you’d prefer a shorter term, Valley Direct offers shorter-term CDs with a fixed rate in 12 and 24-month increments.

Again, ensure you choose the term you can lock up your funds for the entire duration. If you withdraw funds early, you’ll pay an early withdrawal penalty, which depletes the interest earned on your investment.


  • Competitive APYs
  • Option for variable rate CD
  • Low minimum deposit


  • Only long-term CDs are available (12 months and longer)
  • Penalty for early withdrawals


2. Bread Savings bread savings Logo

  • Minimum Deposit: $1,500
  • APY: 4.75% – 5.60%
  • Terms: 1 to 5 years

Bread Savings offers CDs in annual increments starting at one year. They have a higher minimum deposit requirement than many banks on our list, but they pay high APYs on all CD terms ranging from one to five years.

Bread Savings is FDIC-insured up to $250,000 per depositor, offering great customer service. In addition, if you decide to renew your CDs with Bread, they pay loyal customers an additional 0.05% on their rates on 1 to 3-year CDs.

Interest compounds daily and is paid monthly, and Bread Savings doesn’t charge any monthly service fees.


  • Higher APYs for CD renewals
  • Competitive interest rates with short and long terms
  • Daily compounding interest


  • High barrier to entry
  • No CDs with less than a one-year maturity


3. Ponce Bank ponce Logo

  • Minimum Deposit: $1
  • APY: 5.30%
  • Terms: 1 month

When looking for the best CD rates in Missouri, Ponce Bank offers many opportunities. This minority-owned bank is FDIC-insured and offers a large range of CD terms starting at just one month.

If you’re worried about early withdrawal penalties, they offer short-term CDs, such as one and 3-month options, or a no-penalty CD with a 4-month term.

The only catch with the no-penalty CD is you can’t withdraw funds until you own the CD for at least 30 days. However, it offers one of the highest APYs on no-penalty CDs we’ve seen thus far.

You can open a Ponce Bank CD through Raisin, an online platform that takes security seriously and requires only a $1 minimum deposit.


  • CD options as short as one month
  • Option for no-penalty CD
  • FDIC insured


  • The 11 and 13-month CDs have very low APYs
  • High penalties for early withdrawal


4. Sallie Mae sallie mae Logo

  • Minimum Deposit: $1
  • APY: 4.70% to 5.40%
  • Terms: 10 to 14 months

Sallie Mae is a great option if you’re looking for the best CD rates in Missouri on short-term CDs. With only a $1 deposit requirement, you can earn 4.7% to 5.4% on CDs ranging from 10 to 14 months.

Sallie Mae has traditional fixed-rate CDs and two no-penalty CD options that allow you to withdraw funds before maturity.

You must keep the funds invested for 30 days after opening the CD, and then you’re free to withdraw if necessary. Of course, it’s best to keep your money invested as long as possible to earn the most interest.

The no-penalty CDs have a lower APY, but you get peace of mind that you can withdraw the funds if needed without paying a penalty.


  • Options for fixed-rate or no-penalty CDs
  • Low barrier to entry
  • FDIC insured


  • Only short-term options
  • Penalties for early withdrawals on CDs other than no-penalty CDs


5. Blue Federal Credit Union blue federal credit union Logo

  • Minimum Deposit: $1
  • APY: 5.00% to 5.25%
  • Terms: 9 to 15 months

You can also find the best CD rates in Missouri at credit unions like Blue Federal Credit Union. Don’t worry; anyone can join. You just need to donate to the Blue Foundation to qualify. Once you are a member, you can enjoy high APYs starting at 5%.

Blue Federal Credit Union takes care of its members with various banking products, including a no-penalty CD option if you’re worried about needing the funds early. The only downside is they only have short-term CDs ranging from 9 to 15 months.

Even though the no-penalty CDs pay a lower APY, they are still high, with the minimum rate starting at 5%, which is higher than many other banks and credit unions.


  • The lowest APY is 5%
  • Option for no-penalty CDs to avoid early withdrawal penalties
  • Attractive banking products for members


  • Only short-term options
  • You must join the credit union


6. Quontic quontic Logo

  • Minimum Deposit: $500
  • APY: 4.30% to 5.05%
  • Terms: 6 months to 5 years

Sometimes, you can find the best CD rates in Missouri with digital banks like Quonitc. You get all the same benefits as a traditional bank, including FDIC insurance and many CD options, but without traditional banks’ high fees or low rates.

It takes only a few minutes to apply for an account, and they have human support available if you need support. You need only $500 to deposit, and their terms start at just six months. All APYs offered are well over 4%, which is unusual for many banks.

Quontic compounds interest daily and pays it monthly, and they offer a 10-day grace period after renewal if you change your mind and want to withdraw the funds. There’s no penalty during those ten days.


  • Short and long-term CDs available
  • FDIC insurance
  • High APYs


  • You must bank online
  • No options for a no-penalty CD


7. Discover® Bank discover Logo

  • Minimum Deposit: $2,500
  • APY: 2.00% to 5.00%
  • Terms: 3 months to 10 years

Discover® Bank offers more than credit cards and loans. Now, you can grow your wealth with their large selection of CDs. Some terms offer high APYs, such as the 18-month CD, and some are lower. Discover® Bank is FDIC-insured and offers rates as high as 5% on 12 and 18-month terms.

One word of caution with Discover® Bank, however, is their early withdrawal penalties, as they are steep. Because they offer such a wide range of CDs, it should be easy to find one you can invest in without worrying about early withdrawals.

While the initial deposit requirement is steep, Discover® Bank offers many benefits, so if you have the money to meet the requirements, you’ll realize many benefits with Discover® Bank.


  • Attractive CD options
  • FDIC-insured
  • Easy to manage online


  • High barrier to entry
  • Short terms have low rates


8. CIT Bank cit bank Logo

  • Minimum Deposit: $1,000 for standard CD; $100,000 for jumbo
  • APY: .2
  • Terms: 6 months to 5 years

CIT Bank offers the best CD rates in Missouri and many CD types. They have traditional fixed-rate CDs but offer no-penalty and jumbo CDs as well.

Once you invest in a CD at CIT Bank, you are also eligible for RampUp CDs, which allow you to bump up the rate if rates increase; however, this is only for existing customers.

CIT Bank offers its CDs 100% online, but opening and managing your account is easy. Like most banks, there are higher APYs on certain terms and lower rates on others, such as the 12-month term.

Each bank has different promotions, so pay attention to which term offers the highest rate before choosing.


  • Large selection of options
  • Daily compounded interest
  • FDIC-insured


  • Low APYs on some terms
  • High barrier to entry


9. First Tech first tech federal credit union Logo

  • Minimum Deposit: $500
  • APY: 25% to 4.91%
  • Terms: 6 months to 5 years

Credit unions offer some of the best CD rates in Missouri, and First Tech is no exception. While you must be a credit union member, they offer many CDs and attractive rates. This includes Bump Up CDs that allow you to increase the rate on your CD if market rates increase.

Like most banks and credit unions, there are early withdrawal penalties, so ensure you don’t need to withdraw your funds before maturity. The good news is you only need $500 to deposit, so it’s a great way to invest even a little money to earn interest, which compounds daily.


  • Large selection of CDs
  • Daily compounded interest
  • Benefits of being a credit union member


  • Some APYs are on the lower end for certain terms
  • Penalties for early withdrawals


Summary of the Best CD Rates in Missouri

Company APY Minimum Deposit Requirement Compounding Frequency
CIBC 4.20% to 5.62% $1,000 Monthly
Valley Direct 4.6% to 5.6% $500 Daily
Bread Savings 4.5% to 5.5% $1,500 Daily
Ponce Bank 1.21% to 5.5% $1 Daily
Sallie Mae 4.7% to 5.4% $1 Daily
Blue Federal Credit Union 5% to 5.25% $1 Daily
Quontic 4.3% to 5.05% $500 Daily
Discover® Bank 2% to 5% $2,500 Daily
CIT Bank 0.3% to 5% $1,000 Daily
First Tech 2.25% to 4.91% $500 Daily

Types of CDs Available in Missouri

When looking for the best CD rates in Missouri, you should pay close attention to the types of CDs available. For example, if you think you’ll need the funds early, you want a no-penalty CD, but if you can leave the funds long-term, a long-term or bump-up CD may be a better option.

Short-Term CDs in Missouri

Short-term CDs are for short-term goals. They still have early withdrawal penalties, but because they are short-term, you often don’t have to worry about it. You can find CDs with terms as short as one to three months or as long as 12 months for short-term CDs.

Some banks offer the best promotional rates on shorter CDs, so always compare your options. If you can earn a higher APY on a shorter term, you can always renew the CD to keep the interest growing if you don’t need the funds when the CD matures.

Long-Term CDs in Missouri

Long-term CDs are for longer-term goals. However, I always caution you to look at the early withdrawal penalties on long-term CDs, as they can be pretty steep. Only choose this option if you know you can leave the funds untouched.

Long-term CDs usually have 24 months or longer terms, but it varies. You can find long-term CDs with fixed rates and high early withdrawal penalties, such as ramp-up or even no-penalty CDs. Compare your options and choose the one that suits your financial goals best.

Liquid CDs in Missouri

Liquid or no-penalty CDs allow you to withdraw funds early. Most banks and credit unions still have rules regarding when you can withdraw funds.

For example, some banks make you leave the funds untouched for 30 days before you can withdraw. Always read the fine print before assuming you can withdraw funds early.

Liquid CDs are good for funds you think you might need for emergencies or if you’re unsure when you’ll need the funds. Of course, it’s best to leave the funds untouched so the interest compounds, but the option to withdraw is there if needed.

Step Up/Bump Up CDs in Missouri

If you worry about missing out on the best CD rates in Missouri with a fixed-rate CD, consider a bump-up CD. These CDs allow the option to bump up the rate if they increase.

Most banks and credit unions allow CD holders to bump the rate once during the term, but some allow two increases per term.

Always read the fine print to understand the bank’s rules. For example, some may have a time limit when you can bump up the rate, and others have steep early withdrawal penalties for this type of CD.

Add-on CDs in Missouri

Add-on CDs are rare, but if you want to contribute to your CD to increase the interest earned regularly, look for a bank that offers them. With regular contributions to your CD, you increase the balance and the interest earned.

If you can’t find an add-on CD, you can open additional fixed-rate CDs with different maturity dates to keep your funds growing.

Our Methodology

The BankBonus team has reviewed dozens of brick-and-mortar banks, online banks, credit unions, and fintech companies offering CD accounts in Missouri.

To provide you with accurate recommendations for the best CD rates in Missouri, we used the metrics below to assess each account:

  • APY: First and foremost, we evaluate CD offers based on how competitive their APY is
  • Compounding schedule: Another major factor we consider is the account’s compounding schedule, prioritizing banks that compound interest daily rather than monthly or quarterly
  • CD terms: We also consider the variety of CD term lengths each financial institution offers
  • Account minimum: Additionally, we look at each CD’s minimum opening deposit requirements and any ongoing account minimums
  • User experience: We carefully consider the ease of applying and managing CD accounts on each bank’s website and factor in reviews of the mobile app from the App Store and Google Play Store
  • Customer service: In our review process, we also explore each institution’s customer service channels, hours of availability, and third-party reviews

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