Best Certificates of Deposit (CDs) in Wisconsin for 2025
- Bank Five Nine in southern Wisconsin offers the highest CD interest rate in the state.
- Associated Bank, Wisconsin's largest bank, also offers some of the best CD rates.
- Credit unions like Landmark, Summit, and UW offer competitive CD rates.
- Bread Savings has the highest CD APY of any online bank in Wisconsin.
- Ally Bank offers no minimum deposit on high-yield, raise-your-rate, and no-penalty CDs.
A certificate of deposit (CD) is a bank savings tool that allows you to earn interest on your savings. CDs offer higher interest rates than traditional savings accounts with minimal risk, thanks to their FDIC insurance. They’re a great way to save for both short-term and long-term goals.
We’ve identified the best CD rates in Wisconsin, including national, local, and credit union banks. Keep reading to find the best option for you.
Best CD Rates in Wisconsin
Popular Banks and Credit Unions in Wisconsin
Wisconsin has several banks and credit unions that offer checking and savings accounts, along with competitive CD rates. Here are some of the most popular banks and credit unions where you can earn a high return on your savings:
Bank Nine Five: With 14 locations in southeast Wisconsin, Bank Nine Five has served the state’s residents for over 150 years.
Associated Bank: Associated Bank is Wisconsin’s largest bank, and its 7-month CD special offers high returns.
Landmark Credit Union: With its headquarters in Brookfield, Landmark CU serves customers throughout southern Wisconsin.
Summit Credit Union: Summit Credit Union is Wisconsin’s largest credit union, with its headquarters in the capital city of Madison.
UW Credit Union: The UW Credit Union was designed to serve students, employees, alumni, and other community members throughout the UW school system.
Online Banks: Many online banks offer nationwide CDs with rates that often exceed local banks, making them a great alternative for Wisconsin residents.
Online Banks Offering CDs
A solid alternative to local banks and credit unions, online banks have become an increasingly popular choice for CDs. Here are a few reasons customers often choose online banks:
- Higher interest rates: Online banks often offer CD rates that are higher than those of local banks and credit unions. This is usually due to their low overhead.
- Accessibility: Online banks are highly accessible. You can open an account and manage it online, no matter where you live or visit.
- Low minimum deposits: While some traditional banks have high CD minimum deposits, online banks may sometimes have lower deposits (or no deposits at all).
- Low or no fees: Online banks often have lower fees than traditional banks and credit unions. Many online banks don’t charge any fees.
- Quick account setup: You can set up a CD with an online bank in just a few minutes on a mobile app or website. There’s no need to visit a branch.
- Mobile app convenience: Online banks often have more robust mobile apps than local ones, and you can manage your account entirely online.
Many online banks offer competitive CDs, but these are a few of our favorites:
- Bread Savings: Bread Savings offers one of the highest CD APYs on the market, with an especially high rate on its six-month CD.
- Ally Bank: Ally Bank offers competitive CD rates while offering “raise your rate” and no-penalty CDs.
Factors to Consider When Choosing a CD in Wisconsin
With so many CDs to choose from, shopping around and selecting the best option for your situation is essential. Here are some factors to consider when choosing a CD in Wisconsin:
- Interest rate: The interest rate is one of the most important factors to consider when choosing a CD rate since it determines how much you can earn.
- Term length: Common CD term lengths range from three months to five years, with the most popular being one year, 18 months, and two years. Check with your bank or credit union to make sure they offer your desired term.
- Minimum deposit: Some banks or credit unions require no minimum deposit, while others require thousands of dollars. Consider how much you plan to deposit.
- Penalties: You may pay penalties if you withdraw your money during your CD term. If you may need to access your money, consider a no-penalty CD or one with low fees.
- Online vs. local: Consider when an online or local bank best fits your needs. Do you want the convenience of an online bank or the service of a local one?
Pros and Cons of CDs
Before opening a CD in Wisconsin, consider all of the advantages and some key downsides.
Pros
- Higher returns than traditional savings accounts.
- Fixed interest rates, meaning your rate won’t drop.
- FDIC-insured so your money is safe.
- Flexible term lengths for every situation.
Cons
- Requires you to lock up your money for the entire term.
- Penalties may apply to early withdrawals.
- Returns don’t always keep up with inflation.
- Lower returns than higher-risk investments.
Compare CD Rates in Wisconsin Now
A CD can help you grow your savings to reach your short-term and long-term financial goals. Make sure to shop around for the best CD rates for your situation, whether it’s a local bank, credit union, or national online bank.
Frequently Asked Questions
Yes, CD interest in Wisconsin is subject to income taxes. You’ll pay the same tax rate you would on your other income, with rates ranging from 3.50% to 7.65%.
Two of the best short-term CDs in Wisconsin are the 9-month Special CD from Bank Five Nine, which has an APY of 4.80%, and the six-month CD from Bread Savings, which has an APY of 4.45%.
Local credit unions offer rates that are competitive with, and, in many cases, higher than, online banks. For example, Landmark, Summit, and UW credit unions all have APYs of 4.00% or higher, which is more than some online banks offer.
