Certificates of deposit (CDs) are a great way to earn a higher interest rate than a traditional savings account. If you live in Pennsylvania, look for options in your area to receive local expertise. To find the best CD options in Pennsylvania, explore the following comprehensive list and table for comparison.
1. Mid Penn Bank
Mid Penn Bank offers the best CD options overall in Pennsylvania. The bank itself has been in business for 150 years. It was founded in Millersburg, Pennsylvania, and now has centers in 19 counties in both Pennsylvania and New Jersey. The bank is also FDIC-insured, providing you with added peace of mind.
Mid Penn Bank’s CD terms range from three months to 48 months. The CD’s minimal balance is $500, and the maximum is $50,000 when applying online. You can add more when you go to the bank in person. It automatically renews once it matures. The bank also offers another form of CD, the Irrevocable Burial Reserve, for paying burial expenses.
2. Marcus by Goldman Sachs
Marcus by Goldman Sachs is an FDIC-insured bank boasting 150 years of experience. It takes pride in its digital experiences for customers and emphasizes the importance of connecting your financial accounts instead of keeping them separate.
Marcus by Goldman Sachs offers several types of CDs, including high-yield, rate-dump and no-penalty options. It sends a reminder 30 days prior to the CD reaching maturity. You can also check this under Account Details at any time. The CDs require a $500 minimum deposit, and you can add money within the first 30 days. Marcus by Goldman Sachs has a CD Maturity Center for easy management and gives a 10-day CD rate guarantee.
3. Live Oak Bank
Live Oak Bank is a digital, FDIC-insured bank. It has operated since 2008. Some notable attributes include its contribution to customer service, experience in 30 industries and the many financial products it offers.
Live Oak Bank offers personal CDs with terms from three months to five years. There are no monthly maintenance fees, and you can manage your renewal preferences on the online platform.
4. PNC Bank
PNC Bank has been in business for 160 years. It emphasizes serving a greater purpose by supporting customers, employees, communities and shareholders.
Its CDs have terms ranging from four months to 61 months, with a minimum deposit of $1,000. It is FDIC-insured with a guaranteed fixed rate for the term. PNC Bank makes it easy to renew your CD automatically once it matures.
5. NexBank
NexBank was founded in 1922. It is FDIC-insured and operates within four divisions, including institutional, commercial, mortgage and personal. It runs programs for youth empowerment and women’s leadership.
NexBank’s CDs have a guaranteed rate of return. They come in two forms — Promotional Online CDs and NexBank Standard CDs. The Promotional options range from six months to 12-month terms with a minimum deposit of $25,000 and a maximum of $240,000. The Standard versions require a $10,000 minimum deposit and have terms ranging from three months to 60 months.
6. Quontic
Quontic has been in business since 2009. It offers home lending services to all 50 states. It is a digital bank designated as a Community Development Financial Institution, or CDFI, by the United States Treasury.
Its CDs have no monthly service fee and are FDIC-insured. A minimum deposit of $500 is required. Opening an account typically takes around three minutes. There are five terms available, ranging from three months to 60 months.
7. Fulton Bank
Fulton Bank is FDIC-insured and has existed since 1882. It operates 190 financial centers and ATMs in Pennsylvania, New Jersey, Delaware, Maryland and Virginia.
Fulton Bank’s CDs have terms from three months to six years. The minimum required deposit is $1,000. It offers both Traditional CDs and Individual Retirement Account CDs. The website features a CD Calculator for growth predictions.
8. Sallie Mae
Sallie Mae is known for its student loan services, but it also offers savings accounts for customers beyond its student loan offerings. It is an FDIC-insured online bank.
Its CDs have terms from 12 months to 60 months. There are guaranteed returns and an automatic renewal option. The minimum deposit and balance amount within a Sallie Mae CD is $2,500.
Methodology
Each bank and credit union was evaluated on a consistent set of criteria to determine its overall value. Key factors in the analysis included the range of term lengths offered, the minimum deposit required, the institution’s history and federal insurance status, and the availability of beneficial account features like online management tools.
The final ranking is based on how each institution performed across these features, prioritizing account flexibility and accessibility over fluctuating interest rates. Because annual percentage yields change often, confirm the current rates directly with the financial institution before opening an account.
Comparing the Best Options
To help you compare these options at a glance, the table below summarizes the key features of each bank’s CD offerings. Use it to quickly see the differences in term lengths and minimum deposit requirements. All terms and rates are accurate as of December 2025.
| Bank | Founding year | Terms | Requirements |
| Mid Penn Bank | 1868 | Three-month to 48-month terms | Minimum balance of $500 and a maximum balance of $50,000+ |
| Marcus by Goldman Sachs | 2016 for Marcus by Goldman Sachs and 1869 for Goldman Sachs | 10-day CD rate guarantee | Minimum deposit of $500 |
| Live Oak Bank | 2008 | Three-month to five-year terms | No monthly maintenance fees |
| PNC Bank | 1845 | Four-month to 61-month terms | Minimum deposit of $1,000 |
| NexBank | 1922 | Six-month to 12-month terms or three-month to 60-month terms | Minimum deposit of either $10,000 or $25,000 |
| Quontic | 2009 | Three-month to 60-month terms | Minimum deposit of $500 |
| Fulton Bank | 1882 | Three-month to six-year terms | Minimum deposit of $1,000 |
| Sallie Mae | 1972 | 12-month to 60-month terms | Minimum deposit and balance of $2,500 |
What to Look for in a CD
Looking for a CD option can be overwhelming. Consider the following areas when evaluating each offer.
- Withdrawal penalties: Each CD will likely have an early withdrawal penalty. However, some penalties are harsher than others, so check your options carefully before deciding on one.
- Yield: This is the percentage amount you should earn over time. It fluctuates, so ensure you have the most up-to-date information when opening a CD.
- Term length: Consider your own financial needs, especially when you will need your deposited money. Shorter terms mean you get your money back sooner, but longer terms may yield higher interest.
- Affordable deposit: You must be able to afford the minimum deposit. A typical amount is $500, but it varies depending on the institution.
Finding the Best CD Option in PA
CDs are a helpful tool to earn more money. You must choose the correct option based on your own financial needs and abilities, as well as the institution’s credibility and reputation. Consider the options above when selecting the one that best suits you.
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