CD Rates in Minnesota for September 2026
Updated September 28, 2026
Written by
- • Certified Financial Education Instructor (CFEI®)
- • Personal finance
- • Savings accounts
Edited by
- • NACCC Certified Credit Counselor™ (2025)
- • Consumer loans
- • Banking
If you're looking for a guaranteed return on your money in Minnesota, certificates of deposit (CDs) may be the way to go. It doesn't take too much effort to open a CD, but you'll need to do your research to find the right one.
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Not exhaustive. We survey 850+ institutions to ensure the offers you’re comparing are highly competitive. That said, Bankrate doesn’t display every financial institution or available financial product.
How to compare the best CD rates in Minnesota
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Term
These often range from three months to five years, and are the defined period your funds are locked in for. Because your cash is inaccessible, you won't want to use a CD for your emergency fund or anything you might need to access before the term is up.
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Yield
The annual percentage yield (APY) is one of the most important numbers for determining how much you will earn. It's the amount of interest earned on a CD over one year, and includes compound interest.
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Minimum deposit
Make sure you can afford the minimum deposit when you're researching options. Most CDs require a minimum deposit of $500 or $1,000, but some may require more or less.
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Fees and penalties
CDs often come with an early withdrawal penalty. These activate if you take out your funds before the term is up. You may be charged several months' worth of interest.
Don't forget about credit unions
You may be able to find more competitive yields with online banks and credit unions than you would with a national, or even regional, bank. Banks are for-profit institutions, and pass money along to shareholders. Credit unions, on the other hand, are nonprofit and pass money along to their members in the form of higher APYs and lower fees.
You can find several credit unions in Minnesota that may have membership you're eligible for as a resident. As of the fourth quarter of 2025, the top three credit unions in Minnesota have a combined membership of over 900,000.
Keep in mind: Many credit unions call their CDs share certificates or just certificates.
How to decide whether you want a long- or short-term CD
Shorter terms typically offer significantly lower yields. And even shorter terms with higher rates may earn less than a longer term due to the amount of time your money is gaining interest.
Next steps to take out a CD in Minnesota
Compare the best CD rates
Find the best nationally available CDs.
Investigate credit union rates
Make sure you qualify for membership before you apply.
Calculate how much you can save
Bankrate's CD calculator can help you get in-depth information about your options.
Learn about CD ladders
Keep your savings growing with a CD ladder.
Research methodology
Since 1976, Bankrate has been a leading publisher of rates and personal finance articles. We help our readers make smarter financial decisions, adhering to strict principles of editorial integrity and transparency.
Part of Bankrate’s editorial team is made up of a group of banking experts. These experts have collectively researched over 100 banks and review current details at least monthly to make sure readers stay up to date on the latest rates and bank products. If you see a star rating next to a product, that has been established by one of our banking experts, and is not influenced by partner status.
Note: Bankrate doesn’t include callable CDs or brokered CDs on this page and compares regular CDs and no-penalty CDs separately.
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Banks shown on page are a combination of partners and a selection of banks monitored by Bankrate. Sorting is based on the highest APYs with a $25,000 balance. Minimum balance requirements and then alphabetical order help break ties between banks and credit unions. Here's how we make money and here is our advertiser disclosure.
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Affinity Federal Credit Union, Alaska USA FCU, Albert, Alliant Credit Union, Ally Bank, Alto, Amalgamated Bank, Amerant Bank, America First Credit Union, American Airlines Federal Credit Union, American Express National Bank, Applied Bank, Armed Forces Bank, N.A., Axos, Axos Bank, b1BANK, Banesco USA, Banesco USA, Bank of America, Bank of Hope, Bank of the West, Bank5 Connect, BankPurely, BankUnited Direct, Barclays Bank, Bask Bank, BMO Bank, Boeing Employees’ Credit Union, Bread Savings, Brilliant Bank, BrioDirect, BrioDirect, BrixDirect, BTG Pactual, Burke & Herbert Bank & Trust Company, Capital One, Cash App, CFBank, CFG Bank, Charles Schwab Bank, Chase Bank, CIBC Bank USA, CIT Bank, CIT Bank, Citibank, Citizens Access, Citizens Bank, Colorado Federal Savings Bank, Comerica Bank, Connexus Credit Union, Credit One Bank, Credit One Bank, NA, Cross River Bank, Customers Bank, Delta Community Credit Union, Discover Bank, DollarSavingsDirect, E*TRADE from Morgan Stanley, East West Bank, Emigrant Bank, Emigrant Direct Bank, EverBank, Fifth Third Bank, First Citizens Bank, First Foundation Bank, First Horizon Bank, First Internet Bank, First National Bank of America, First Tech Credit Union, Flynn Wright on behalf of Veridian Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, Frost Bank, Golden 1 Credit Union, GTE Financial Credit Union, Heritage Bank, Heritage Bank, NA, Huntington National Bank, iGOBanking.com, Jenius Bank, KeyBank, KS StateBank, Lake Michigan Credit Union, Laurel Road, LendingClub Bank, LendingClub Bank, Liberty Savings Bank, Limelight Bank, Limelight Bank, Live Oak Bank, Lone Star Bank, M&T Bank, Malaga Bank F.S.B., Marcus by Goldman Sachs, Merrick Bank, MidFirst Bank - Los Angeles, Monifi, Mountain America Credit Union, mph.bank, My Banking Direct, a service of NY Community Bank, MyBankingDirect, MySavingsDirect, NASB, Navy Federal Credit Union, NBKC Bank, NexBank SSB, NexBank, SSB, North American Savings Bank, Northpointe Bank, Oak Valley Community Bank, One, OneUnited Bank, Openbank, Patelco Credit Union, Peak Bank, Pendleton Community Bank, Inc., Pentagon Federal Credit Union, PNC Bank, Ponce Bank, Popular Direct, Presidential Bank, Primis Bank, Provident Bank, PurePoint Financial, Quontic Bank, Quontic Bank, Quorum, Quorum Federal Credit Union, Radius Bank, Randolph-Brooks Federal Credit Union, Regions Bank, Republic Bank of Chicago, Ridgewood Savings Bank, Rising Bank, Rising Bank , Salem Five Direct, Sallie Mae Bank, San Diego County Credit Union, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Simple, SoFi, SouthState Bank, St. Anne's Credit Union, Star One Credit Union, State Bank of India California, State Employees' Credit Union, Sterling Bank and Trust, Suncoast Credit Union, Synchrony Bank, Synovus Bank, TAB Bank, TD Bank, Texas Capital Bank, The Federal Savings Bank, Third Federal Savings and Loan, TotalDirectBank, Truist Bank, U.S. Bank, UFB Direct, UFB Direct, Umpqua Bank, Union Bank, Union Bank (Michigan), Universal Bank, Upgrade, US Bank, USAA Bank, Valley Bank, Varo Bank, Vio Bank, VirtualBank, VyStar Credit Union, Washington Savings Bank, Wealthfront, WebBank, Webster Bank, Wells Fargo, Western Alliance Bank-501, Western State Bank, Zions Bank, ZYNLO Bank
