Best Certificates of Deposit in Nebraska for 2025
- Nebraska credit unions generally offer higher CD rates than in-state banks, with many offering better APYs and more flexible terms for smaller minimum deposits.
- Siouxland Federal Credit Union offers high-yield CDs with terms ranging from 12 months to 5 years and a $1,000 minimum deposit, available to members in select counties in Nebraska, South Dakota, and Iowa.
- EverBank offers 13 CD terms, including CD specials, all of which earn highly competitive APYs.
- Some of Nebraska's most accessible CDs, like those from Metro Credit Union and First National Bank of Omaha, have minimum deposits as low as $500, making them a great option for first-time savers.
Certificates of deposit (CDs) offer Nebraska residents a reliable way to grow their savings with minimal risk. They work by locking in your funds for a set term, ranging from a few months to several years, in exchange for a guaranteed fixed interest rate.
Because CD rates can vary significantly depending on the institution, it’s essential to compare terms, yields, and deposit requirements before deciding where to open an account. Here are some of the best CD rates in Nebraska and factors to consider when choosing a CD.
Best CD Rates In Nebraska
Popular Banks and Credit Unions in Nebraska
- First National Bank of Omaha: Savers can choose from various CD terms and types, including CD specials, standard CDs, and relationship and premium rates.
- Siouxland Federal Credit Union: Siouxland Federal Credit Union is a regional credit union that offers some of the highest APYs in the state, including its one-year CD and two-year CD.
- Metro Credit Union: CD terms at Metro Credit Union range from 3 months to five years, with competitive APYs and minimum deposit requirements starting at just $500. Its 18-month CD is among the highest offered in Nebraska.
- Online Banks: Many online banks offer Nebraska residents high-yield CDs with low minimum deposit requirements and access to digital tools and features.
Online Banks Offering CDs
While traditional banks and credit unions can be appealing for their in-person service, online banks offer several advantages regarding CDs. These digital institutions often provide:
- Higher interest rates: With lower overhead costs, many online banks can offer CD rates that exceed those of local banks and credit unions.
- Low minimum deposits: Some online CDs can be opened with a deposit as low as $500, providing a lower barrier to entry for building savings.
- Accessibility: Digital banking provides customers 24/7 access to open, manage, and monitor CDs and other accounts from anywhere, at any time.
- Helpful digital tools: Online banks often offer customers features like budgeting tools, savings calculators, and mobile apps to simplify account management.
If you’re thinking about opening a CD through an online bank, here are some options to consider:
Barclays Bank: Barclays offers CDs with highly competitive rates and no minimum deposit requirements, making them one of the most accessible options for new savers.
Bask Bank: With Bask Bank, you can open high-yield CDs through a quick online process and start saving with a low minimum deposit of $1,000.
EverBank: EverBank Performance CDs only require $1,000 to open and range from three months to five years.
Regardless of where you choose to bank, shopping around for the best rates and terms is important.
Factors to Consider When Choosing a CD in Nebraska
Several factors can weigh on your decision when selecting a CD. Here are a few details to consider when comparing CDs.
Nebraska Economic Outlook
Nebraska is facing growing budget pressures in 2025, with a projected shortfall of $190 million due to revised revenue estimates. While the economy remains resilient, fiscal uncertainty may affect how local banks and credit unions set CD rates.
Banking Needs
The type of CD account you open and the term you choose may depend on factors such as your savings timeline, the funds available for deposit, your current financial situation, and your banking options.
Taxes
CD interest is subject to federal income tax and Nebraska state income tax. Consult with a tax professional or review the Nebraska Department of Revenue guidelines to understand better the implications of opening a CD account.
Pros and Cons of CDs
Pros
- CDs generally earn higher APYs than many other deposit account types.
- CDs come with fixed interest rates, giving you predictable, guaranteed returns on your deposit.
- CDs are insured by the FDIC or NCUA up to the legally allowable limits.
- CDs offer flexibility through a range of terms, from shorter to longer, to match your goals and needs.
Cons
- Fixed CD rates may not keep pace with inflation.
- CD funds are typically inaccessible until maturity without paying a penalty.
- Withdrawing funds early often results in penalties or loss of interest, which may sabotage your saving efforts.
Start Comparing Nebraska CD Rates
CDs provide a safe and steady way to grow savings, especially if you don’t need access to your funds for a while. Consider your needs and compare rates from local and online financial institutions to find the best option.
Compare CD rates in Nebraska now.
Frequently Asked Questions
No-penalty and bump-up CDs are more commonly available through online banks, but may be available at select financial institutions in Nebraska.
Unlike banks, credit unions are nonprofit organizations and often pass on savings to members in the form of higher interest rates on deposit products, such as CDs.
Grace periods vary by institution, but most banks and credit unions allow a seven- to ten-day window to make changes or withdraw funds without incurring a penalty.
