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Certificates of deposit (CDs) provide higher interest rates than savings accounts because they hold your funds for a fixed period. You simply choose an amount to invest, select your maturity term and wait for your money to grow — no losing sleep over market volatility. The higher the annual percentage yield (APY), the more you earn. So, which bank has the best CD rates in PA?
1. First Commonwealth Bank
Pennsylvania-based First Commonwealth Bank offers some of the most competitive CD rates in the state, with APY reaching up to 4.15%. Its fixed terms range from as little as 90 days to 60 months, so your money will be available whenever you are ready to spend it. Its flexible offerings and high guaranteed returns make it the top choice.
| Annual Percentage Yield | Minimum Deposit Requirement | Term Length |
| 4.15% | $10,000 | Six months |
Key Features
Although a $10,000 balance is higher than typical, it guarantees larger returns faster. At 4.15% APY, you would earn hundreds of dollars in passive income in just six months. Since this bank is insured by the Federal Deposit Insurance Corp. (FDIC) for up to $250,000 per depositor, you can feel safe putting a lot of money into a CD.
While you only want to know which bank has the best CD rates in PA, you should know it has some of the best rates in the country. Large financial institutions’ rates tend to be low. For reference, Chase Bank’s standard CD rate was just 0.01% as of June 2025. Even with a relationship rate, you get just 2% APY over a two-year term.
You can open an account online, in person or over the phone. First Commonwealth Bank has nearly 130 community banking offices across 30 counties in Pennsylvania and Ohio that you can visit. Alternatively, you can call Monday through Friday from 7 a.m. to 7 p.m. and on the weekend from 8 a.m. to 2 p.m.
Related: How to Choose the Right Bank for Your Business
2. Marcus by Goldman Sachs
Backed by the reputable multinational bank Goldman Sachs, FDIC-insured Marcus by Goldman Sachs is an online banking platform. Although being unable to visit a physical branch can be challenging, customer service is available 24/7. Since CDs are usually locked, it is a better choice for people who need access to multiple financial services.
| Annual Percentage Yield | Minimum Deposit Requirement | Term Length |
| 4.20% | $500 | Six months |
Key Features
Marcus by Goldman Sachs has two kinds of CDs. The first is the high-yield version, which offers 3.75% to 4.20% APY, with term lengths ranging from six months to six years. Even though the rate is high, the return may not be significant since the minimum deposit requirement is so low. Online, the maximum limit is $1,000,000 per account.
The second is the no-penalty CD, which allows account holders to withdraw their balance and all accrued interest at any time, beginning seven days after funding. They can get up to 4% APY, but the term length is not as flexible. There are only three options — seven, 11 and 13 months.
Marcus by Goldman Sachs has a unique 10-day CD rate guarantee. If the rate for the selected term changes within the first 10 days of opening the account, the account holder will automatically get the higher rate. The only caveat is that they must have a balance of at least $500. Otherwise, they will get whatever rate is available once they reach the minimum deposit.
3. American Bank
As a subsidiary of American Bank Inc., American Bank is backed by an FDIC-insured, nationwide financial institution serving eastern Pennsylvania communities. While it technically serves customers from all over the country, its executive offices and local branch are located in Allentown.
| Annual Percentage Yield | Minimum Deposit Requirement | Term Length |
| 4.25% | $500 | 90 days |
Key Features
With this bank, you can either open a 120-day instant-access CD at 3.75% APY or a standard CD for up to 4.25% APY. Fixed-rate interest compounds daily, from the day of your first deposit to the day of withdrawal. Your $500 minimum deposit will not earn you much, but you can always put down more if you have the funds.
Opening an account grants you free access to online banking services, which is a bonus. The process takes less than five minutes — you only need government-issued identification, a mailing address, a Social Security number and a date of birth.
If you want to open an account, the branches are open Monday through Thursday from 9 a.m. to 5 p.m., Friday from 9 a.m. to 6 p.m. and Saturday from 9 a.m. to noon. You can reach a representative by phone during business hours.
4. Limelight Bank
You can access secure, simplified online banking with Limelight Bank — an FDIC-insured, online-only division of the reputable Capital Community Bank. Its financial services and customer support team are available 24 hours a day, seven days a week, so you can review your CD whenever you like.
| Annual Percentage Yield | Minimum Deposit Requirement | Term Length |
| 4.40% | $1,000 | Six months |
Key Features
You can get 3.80% for 36 months, 4.05% for 18 months, 4.25% for 12 months or 4.40% for six months. Each CD requires a $1,000 minimum deposit. If you take the last option and continue renewing once it reaches maturity, you could quickly build a sizable amount of savings. Since everything happens online, biannual check-ins would not be inconvenient.
That said, this bank will only open a CD in your name — you cannot open one in the name of an organization, business or trust. If you are looking for a high-yield account for probate avoidance, liquidity or estate planning, it might not be your best option. However, its rates are still some of the highest in the state.
5. Dollar Bank
While most of Dollar Bank’s physical locations are in Pittsburgh, it serves the entire state. If you cannot open a CD account in person, you can use the digital customer portal. The FDIC insures it, so you do not have to worry about losing your funds if you bank online.
| Annual Percentage Yield | Minimum Deposit Requirement | Term Length |
| 4% | $25,000 | Seven months |
Key Features
The seven-month traditional term CD at 4% APY is currently the best offer. A $2,500 balance would get you 0.15%, well under what others provide. The term may be so short because Dollar Bank expects you to accept that difference. While the 3.90% option comes close, you must wait 13 months before it reaches maturity.
That said, it has the broadest range of CDs on this list. You could go with the rising rate if you do not want a traditional rate. You only get 1% initially, but it increases every 90 days. After the third consecutive increase, you earn 3% regardless of how the market has changed.
The CD ladder sees you spread a lump sum across multiple accounts. They have different maturity dates, enabling you to take advantage of higher rates. If you have an existing account, you can open a relationship CD, earning up to 3.10% APY — and you get a higher APY for a lower minimum balance.
These Banks Have the Best CD Rates in PA
Now that you know which bank has the best CD rates in PA, you should decide which APY, minimum balance and term length meet your needs. Consider your long-term goals — do you want to redeposit the interest into your CD or transfer it into your savings account each month? Will you renew when it reaches maturity? Answer these questions before opening an account.