Checked November 1, 2026
CD rates you can open with $500 or less
The best 12-month CD you can open with $500 or less pays 4.65% APY at CFG Bank. We found 29 banks and credit unions that qualify.
Best rate for each term
| Term | Top APY | Bank | Banks |
|---|---|---|---|
| 3-month | 4.30% | Bank5 Connect | 15 |
| 6-month | 4.40% | LendingClub | 26 |
| 12-month | 4.65% | CFG Bank | 29 |
| 18-month | 4.70% | CFG Bank | 11 |
| 2-year | 4.82% | CFG Bank | 26 |
| 3-year | 4.90% | Quorum Federal Credit Union | 28 |
| 5-year | 5.00% | Quorum Federal Credit Union | 26 |
Banks you can open with $500 or less
| Bank | Minimum | 12-month APY |
|---|---|---|
| CFG Bank | $500 | 4.65% |
| E*TRADE | None | 4.55% |
| Ally | None | 4.50% |
| Barclays | None | 4.50% |
| KS StateBank | $500 | 4.50% |
| Quorum Federal Credit Union | $100 | 4.50% |
| Third Federal Savings and Loan | $500 | 4.50% |
| Marcus by Goldman Sachs | $500 | 4.40% |
| Zynlo Bank | None | 4.40% |
| Synchrony | None | 4.30% |
| Vio Bank | $500 | 4.30% |
| Citibank | $500 | 4.25% |
| Prime Alliance Bank | $500 | 4.25% |
| Goldwater Bank | $500 | 4.15% |
| TD Bank | $250 | 4.15% |
| America First FCU | $500 | 4.05% |
| Bank5 Connect | $500 | 4.00% |
| Capital One | None | 4.00% |
| State Employees' Credit Union | $250 | 4.00% |
| Ridgewood Savings Bank | $100 | 3.70% |
Banks that do not state a minimum on their rate page are left out. Confirm the minimum with the bank before you open a CD.
Questions
What is the best 12-month CD rate you can open with $500 or less?
CFG Bank pays 4.65% APY on its 12-month CD. 29 banks in this group list a 12-month CD, and the middle rate is 4.15%.
Is there a 5-year CD you can open with $500 or less?
Yes. Quorum Federal Credit Union pays 5.00% APY on a 5-year CD, the highest of 26 banks in this group that list one.
Does a low minimum deposit mean a lower rate?
Not always. Compare the 12-month rate of the banks listed here with the best rate on the main CD rates page before you decide. A bank can pay a strong rate and still ask for little to open the account.
Which banks are left out of this list?
Banks that do not state a minimum deposit on their rate page are left out, because we do not guess. That is 1 bank right now. A minimum can also change, so confirm it with the bank before you open a CD.
General information only. Rates change often; confirm the rate, minimum deposit and early withdrawal penalty with the bank before you open a CD. SwitchWize is not a bank and does not give financial advice.