PickedFinance
Comparison guide

Best no-penalty CDs

A no-penalty CD fixes your rate for the term but lets you take your money out early without an early withdrawal penalty, usually after a short wait. We read each bank’s page on Nov 10, 2026.

By PickedFinance Editorial TeamLast updated Rates checked Nov 10, 2026

Disclosure: links on this page currently go straight to each provider’s own site, and we don’t earn a commission from them. If we join a provider’s affiliate program later, that will never change which products we include or how we order them. How we make money.

How this page was made: it’s built from each provider’s own terms, rate and fee pages and from regulator sources, all listed at the bottom. We haven’t opened these accounts or products to test them, and we don’t give scores. Every rate shows the day we checked it. Our methodology.

Quick answer

Short answer: on Nov 10, 2026, Climate First Bank showed the highest no-penalty CD rate we found, 4.46% APY for 12 months ($500 minimum). Marcus showed 4.00% for 11 months with a $500 minimum. Most require withdrawing the full balance, and none allow withdrawals in the first 6 days.

Last updated Rates checked Nov 10, 2026

Key facts at a glance

Key facts (each rate shows the day we checked it on the provider’s page)
PickProductBest forKey terms
Highest rate we foundClimate First Bank Penalty-Free CDsThe highest rate, if you’re comfortable with a smaller bank12-month 4.46% APY (12-month) as of Nov 10, 2026; $500 minimum
Best known online bank, low minimumMarcus No-Penalty CDA strong rate with a $500 minimum and a choice of terms11-month 4.00% APY (11-month) as of Nov 10, 2026; $500 minimum
No minimum depositAlly Bank No Penalty CDNo minimum at all2.90% APY (11-month) as of Nov 10, 2026; no minimum

We read each bank’s own CD page on Nov 10, 2026. Climate First Bank’s rate footnotes carry earlier dates (Sept. 15 to Oct. 16, 2026) even though the rates were displayed on Nov 10; confirm the rate on the application before you fund. All four banks are FDIC[10] members. This page is research-based and we don’t score accounts.

Our picks

12-month 4.46% APY (12-month) as of Nov 10, 2026; $500 minimum.
Visit Climate First Bank (opens in a new tab)
Best known online bank, low minimum
Marcus No-Penalty CD
11-month 4.00% APY (11-month) as of Nov 10, 2026; $500 minimum.
Visit Marcus (opens in a new tab)
No minimum deposit
Ally Bank No Penalty CD
11-month 2.90% APY (11-month) as of Nov 10, 2026.
Visit Ally (opens in a new tab)

How do they compare?

No-penalty CDs on each bank’s page, Nov 10, 2026
BankTerm and APYMinimumWhen you can withdraw
Climate First Bank12-month 4.46% APY (12-month) as of Nov 10, 2026; 9-month 4.35% APY (9-month) as of Nov 10, 2026; 6-month 4.33% APY (6-month) as of Nov 10, 2026; 3-month 4.26% APY (3-month) as of Nov 10, 2026$500 (personal)No penalty for early withdrawals; no additional deposits
Marcus (Goldman Sachs Bank USA)11-month 4.00% APY (11-month) as of Nov 10, 2026; 13-month 3.80% APY (13-month) as of Nov 10, 2026; 7-month 3.75% APY (7-month) as of Nov 10, 2026$500Full balance, starting 7 days after funding
BTG Pactual Bank13-month 3.75% APY (13-month) as of Nov 10, 2026$5,000 (new money only)Up to two partial withdrawals; the third closes the account; not in the first 6 days
Ally Bank11-month 2.90% APY (11-month) as of Nov 10, 2026NoneFull balance and interest, any time after the first 6 days

The picks in detail

Highest rate we found

1. Climate First Bank Penalty-Free CDs

Best for: The highest rate, if you’re comfortable with a smaller bank

Climate First Bank’s CD page (read Nov 10, 2026) listed “Penalty-Free” CDs at 4.26% APY for 3 months, 4.33% for 6, 4.35% for 9 and 4.46% for 12 months, each with a $500 personal minimum opening deposit that must be maintained daily to earn the APY. Its footnotes say no additional deposits are allowed, there’s no penalty for early withdrawals, withdrawals will reduce earnings, and the CD renews for the same term unless you withdraw within 10 days after maturity. Footnote dates range from Sept. 15 to Oct. 16, 2026. Climate First Bank describes itself as FDIC-insured.

Key terms: 12-month 4.46% APY (12-month) as of Nov 10, 2026; $500 minimum Climate First Bank terms

Pros

  • Highest no-penalty APYs we found
  • Four terms from 3 to 12 months
  • $500 minimum

Cons

  • Rate footnotes predate our check
  • No additional deposits
  • Automatic renewal unless you act within 10 days of maturity
Visit Climate First Bank (opens in a new tab)
Best known online bank, low minimum

2. Marcus No-Penalty CD

Best for: A strong rate with a $500 minimum and a choice of terms

Marcus showed 3.75% APY for 7 months, 4.00% for 11 months and 3.80% for 13 months, APY as of Nov 10, 2026, with a $500 minimum deposit. You must withdraw the full balance, starting seven days after funding, and maximum balance limits apply. Marcus is a brand of Goldman Sachs Bank USA, Member FDIC[10].

Key terms: 11-month 4.00% APY (11-month) as of Nov 10, 2026; $500 minimum Marcus terms

Pros

  • Rate dated the day we checked
  • Three term choices
  • Low minimum

Cons

  • Full-balance withdrawals only
Visit Marcus (opens in a new tab)
Best for Partial withdrawals on a larger balance

3. BTG Pactual 13-Month No-Penalty CD

Best for: Partial withdrawals on a larger balance

BTG Pactual’s CD page showed 3.75% APY for a 13-month No-Penalty CD, APY effective Nov 10, 2026, with a $5,000 minimum balance and a $500,000 maximum, for new money only. Unlike the others here, it allows partial withdrawals: penalty-free withdrawals are permitted up to two times and a third request closes the account. You can’t withdraw principal in the first six days after funding or within six days of your last partial withdrawal, and a withdrawal that takes the balance under $5,000 may be treated as a close-out. BTG Pactual Bank, N.A. is a member of the FDIC[10].

Key terms: 3.75% APY (13-month) as of Nov 10, 2026; $5,000 minimum BTG Pactual terms

Pros

  • Partial withdrawals allowed
  • Rate dated the day we checked

Cons

  • $5,000 minimum; new money only
  • Lower APY than Marcus or Climate First
Visit BTG Pactual (opens in a new tab)
No minimum deposit

4. Ally Bank No Penalty CD

Best for: No minimum at all

Ally showed 2.90% APY with an 11-month term, APYs accurate as of 11/10/2026, and no minimum deposit to open. You can withdraw your full balance and interest any time after the first 6 days following funding. Ally Bank, Member FDIC[10].

Key terms: 2.90% APY (11-month) as of Nov 10, 2026; no minimum Ally terms

Pros

  • No minimum deposit
  • Rate dated the day we checked

Cons

  • Lowest rate on this page
  • Full-balance withdrawals only
Visit Ally (opens in a new tab)

Also considered

CIT Bank’s 11-month No-Penalty CD ($1,000 minimum; full balance and interest withdrawable starting 7 days after funds are received) isn’t ranked because the rate footnote on its page was dated July 1, 2026, too old to list as current. Synchrony’s CD page mentions a No-Penalty CD but didn’t show its rate, and the No-Penalty CD URL we tried returned “Page Not Found,” so it’s not included. Sallie Mae’s CD page didn’t list a no-penalty CD. For fixed-term CDs with higher rates, see best CD rates.

No-penalty CD or high-yield savings?

A no-penalty CD locks the rate for the term; a savings account’s rate can change at any time. But most no-penalty CDs make you take out the whole balance at once, and none here let you add money. On Nov 10, 2026, the best savings rate on our high-yield savings page was 4.00% APY at Sallie Mae, so a no-penalty CD only beat it at Climate First Bank. See also CD vs. high-yield savings.

Who should skip this

  • You’ll add money regularly. None of these accept additional deposits after funding; use a savings account.
  • You may need part of the money soon. Except for BTG Pactual, a withdrawal means taking out the full balance.
  • You’re sure you won’t touch it for a year or more. A regular CD at the same term usually pays more; compare on best CD rates.

Frequently asked questions

What is a no-penalty CD?
A certificate of deposit that lets you withdraw early without an early withdrawal penalty, usually after a short waiting period (6 or 7 days at the banks on this page). The rate is fixed for the term.
Can I make a partial withdrawal?
Usually not. Marcus and Ally require withdrawing the full balance. BTG Pactual allows up to two penalty-free partial withdrawals; the third closes the account.
Are no-penalty CDs FDIC-insured?
At FDIC-member banks, yes, up to $250,000 per depositor, per bank, for each ownership category. All four banks on this page are FDIC[10] members.
Do no-penalty CDs pay less than regular CDs?
Often. On Nov 10, 2026, Marcus paid 4.00% on its 11-month no-penalty CD and 4.40% on its 12-month high-yield CD.
What happens at maturity?
Policies vary. Climate First Bank says its CDs renew for the same term unless funds are withdrawn within 10 days after maturity. Check your bank’s maturity rules before you open.

Sources

Every source below was opened and read for this page (rates last checked Nov 10, 2026). Providers’ own pages are labeled with the provider’s name; regulator pages are labeled with the agency. Rates and terms change often, so confirm on the provider’s site before you apply.

  1. Marcus by Goldman Sachs: No-Penalty CDs (marcus.com, checked Nov 10, 2026)
  2. Ally Bank: No Penalty CD (ally.com, checked Nov 10, 2026)
  3. CIT Bank: No-Penalty CD (cit.com, checked Nov 10, 2026)
  4. BTG Pactual: Certificates of Deposit (btgpactual.us, checked Nov 10, 2026)
  5. BTG Pactual Bank: Product selection (CDs) (open.btgpactual.com, checked Nov 10, 2026)
  6. Climate First Bank: Certificates of Deposit (climatefirstbank.com, checked Nov 10, 2026)
  7. Synchrony Bank: CDs (synchronybank.com, checked Nov 10, 2026)
  8. Sallie Mae: Certificates of Deposit (salliemae.com, checked Nov 10, 2026)
  9. Marcus by Goldman Sachs: High-Yield CDs (marcus.com, checked Nov 10, 2026)
  10. FDIC: Understanding Deposit Insurance (fdic.gov, checked Nov 10, 2026)
best of

Best 1-year CD rates

On Nov 10, 2026, the best 12-month CD rates we found were 4.60% APY at Sallie Mae and Popular Direct, both with minimums. Capital One paid 4.45% with no minimum. The FDIC’s national average was 1.76%.

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Best CD rates

A CD locks an APY for a set term in exchange for a penalty if you withdraw early. On Nov 10, 2026, the best rates we found were 5.00% APY for 5 years and 4.60% for 1 year at Sallie Mae, and 4.20% for 6 months at Synchrony.

guide

CD vs high-yield savings account

A CD trades access for a fixed rate; a high-yield savings account keeps your money available at a rate that can change any time. On Nov 10, 2026, 12-month CDs paid 0.60 to 1.25 points more than the same banks’ savings accounts.