Best no-penalty CD rates for September 2025

M.Y. Safra Bank has some online-only offerings through a division they call M.Y. Safra Direct. One of the offerings is a 13-month no-penalty CD with a competitive rate, but also with a steep $5,000 minimum deposit.

Note that early withdrawal of funds without penalty is allowed up to two times. The third withdrawal results in an account closure. Withdrawals of the principal amount are allowed on the seventh day after the date the account was funded or within seven days of the most recent partial withdrawal.

America First offers a 12-month Flexible Certificate account that is a bit different from a traditional no-penalty CD. It allows one penalty-free withdrawal during the first five calendar days of each quarter. Customers can also deposit up to $10,000 into the CD each month, with up to $100,000 in total additional deposits.

Not everyone can join this credit union, though. Among other criteria, you’re eligible to join if you live, work, worship, volunteer or attend school in certain western states, or if you’re a member of certain employers or affiliated associations.

Marcus is the consumer banking unit of Goldman Sachs Bank USA. The bank consistently offers high yields on its no-penalty CD and a wide variety of its other CD terms and types (including traditional and rate bump options). It offers three terms of no-penalty CDs — seven, 11 and 13 months. The full balance can be withdrawn beginning seven days after funding the account.

Ally is an online bank that offers an 11-month no-penalty CD with no minimum opening deposit. You can withdraw your full balance and any interest at any time after the first six days of funding the CD.

Ally also offers a Raise Your Rate CD in terms of two years and four years as well as standard CDs in different terms.

Colorado Federal Savings Bank offers an 11-month no-penalty CD with a $5,000 minimum deposit. Penalty-free withdrawals are allowed after seven days of the CD funding.

CIT Bank is an online bank and a subsidiary of First Citizens Bank. In addition to the 11-month no-penalty CD, CIT Bank offers eight terms of regular CDs and four terms of jumbo CDs. Penalty-free withdrawals can be made beginning seven days after the bank has received the funds.

CIT Bank also offers savings and money market accounts.

Bank of America, one of the largest banks in the U.S., has a 12-month flexible CD that offers a competitive rate, unlike most of the bank’s other CD offerings, which tend to offer rock-bottom rates.

This no-penalty CD lets you withdraw interest and your entire balance prior to maturity. Note that a penalty of seven days’ worth of interest will be charged for withdrawals within the first six days of the term or within six days following any partial withdrawal. This CD automatically renews into a three-month CD at maturity, which earns a much lower rate. You’ll need to manage this CD closely to make sure you move your funds after maturity.