E*TRADE CD rates of August 2024
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Updated 4:53 a.m. UTC Aug. 1, 2024
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Through E*TRADE, you can purchase Brokered Certificates of Deposit (CDs) from hundreds of different banks with a variety of terms, ranging from three months to over 30 years.
E*TRADE Brokered certificates of deposit rates currently range from around a 4.00% to 5.50% annual percentage yield (APY), depending on the issuer and the exact CD type. Yields on Brokered CDs are generally very competitive with traditional CDs.
Account details and APYs are accurate as of June 20, 2024.
About E*Trade CDs
Any CD you purchase through E*Trade’s platform is a Brokered CD, meaning you’re buying the CD from a third-party, rather than directly from the financial institution.
One benefit to using Brokered CDs is that you have a ton of options.
You can find CDs available from some of America’s largest banks, such as JPMorgan Chase Bank, in addition to smaller institutions like Southern Bank. All Brokered CDs on E*Trade are insured by the Federal Deposit Insurance Corp. (FDIC), which protects up to $250,000 per depositor, per insured bank.
You can filter your search by state, yields, terms and whether you want the CD to be a new issue or a secondary market CD. Purchases of newly issued Brokered CDs come commission-free, while secondary offerings come with a $1 per bond fee.
Higher-yielding E*Trade Brokered CDs tend to pay interest semi-annually or only at maturity. They also tend to be callable, which means the issuer can “call” a CD and close it early — only paying out the interest earned up to that point. This can upset your longer-term financial plans.
On the platform, you’ll see two interest rates for each CD: yield to maturity (YTM), which assumes the CD won’t be called and that you’ll reinvest any interest earnings, and yield to worst (YTW), which indicates the most conservative potential return of the CD. Currently, E*Trade Brokered CDs have a YTM range of 5.50% to 4.00% APY and a YTW range of 5.50% to 4.00% APY.
Lower-yielding E*Trade Brokered CDs tend to be non-callable and most have a monthly coupon frequency, so you earn steady interest payments about every 30 days. You can use our CD calculator to see how much interest you could earn.
Note that not all CDs on E*Trade’s platform are available in every state, due to Blue Sky Laws — which restricts offerings to residents.
If you need to access your own CD funds early, you might be able to sell it on the secondary market — but there’s no guarantee you’ll find a buyer — which means an early withdrawal penalty may come into play (If this is a turn off, check out the best no-penalty CDs instead).
How to get an E*Trade CD
In order to get an E*Trade Brokered CD, you’ll start by opening an E*Trade account. Here’s a step-by-step breakdown:
- Open an account. E*Trade will ask if you want to open a brokerage account, retirement account or savings account. If you want to get a CD, you’ll need to choose the brokerage account option. You can make it an individual or joint account.
- Provide personal information. You’ll need to include some basic information about yourself such as your name, date of birth, Social Security number (SSN), phone number and email address.
- Fund the account. Before you can make a purchase on E*Trade, you’ll need money in your E*Trade account. One of the easiest ways to do this is via an electronic transfer from one of your existing bank accounts.
- Head to the Brokered CD platform. You can filter your search results by new issue or secondary market, yields, coupon rates, Blue Sky Laws and maturity dates.
- Review and click “buy.” You can click on a specific CD to review its details — make sure you’re comfortable with the fine print — and then hit the purchase button.
As you look at different options, consider building a CD ladder — which is a savings strategy. For example, if you get a three-month, six-month and one-year CD, then reinvest each CD into a one-year CD as they mature, you’ll never be far away from having access to your funds.
How E*Trade CD rates compare
E*Trade’s Brokered CDs offer a worthwhile opportunity for some savers. But it never hurts to shop around to lock in top rates.
| TERM | BREAD SAVINGS CD RATES | MARCUS BY GOLDMAN SACHS HIGH-YIELD CD RATES | QUONTIC BANK CD RATES |
|---|---|---|---|
N/A
| 5.10% APY
| 5.10% APY
| |
5.15% APY
| 5.00% APY
| 4.50% APY
| |
4.60% APY
| 4.20% APY
| 4.50% APY
| |
4.25% APY
| 4.15% APY
| 4.40% APY
| |
48 months
| 4.15% APY
| 4.00% APY
| N/A
|
4.05% APY
| 4.00% APY
| 4.30% APY
|
Other products E*Trade offers
E*Trade offers several other financial products, including a high-yield savings account. But it doesn’t offer any money market accounts.
Below is a look at some of the other products offered through E*Trade:
- Checking accounts.
- Savings accounts.
- Retirement accounts.
- Managed investment portfolios.
- Brokerage accounts.
E*Trade review
We’ve named E*Trade as one of the best online brokers due to its low fee structure, plethora of tools and 24/7 customer service. It was originally formed in the early 1980s and was bought by Morgan Stanley in 2020.
While the company offers online banking products, such as checking and savings accounts, its main focus is to function as an investment platform — allowing you to buy and sell securities. As an E*Trade user, you can build a portfolio with or without the help of an advisor.
And you aren’t limited to managing things from a desktop. The iOS version of the app earned 4.6 stars out of five, while the Android version has over a million downloads, but only earned 4.1 stars out of five.
Frequently asked questions (FAQs)
The Brokered CDs available through E*Trade have fluctuating rates. As of writing, you can find yields to maturity (YTM) ranging from 5.50% to 4.00% APY.
Yes, as a broker, E*Trade offers CDs that are issued by other financial institutions, such as credit unions and banks. You can find a wide variety of maturity dates and issuers all in one place on E*Trade.
All Brokered CDs available through E*Trade are FDIC insured. Note that, if you already have $250,000 worth of deposits at a bank and then get a Brokered CD from that bank through E*Trade, your additional deposits may not be covered. If you’re close to the insurance limit at a particular bank or credit union, look for another issuing institution when you browse CD options — especially if you’re considering a jumbo CD.
The CD rates available through Charles Schwab are largely on par with E*Trade’s Brokered CD options. But it’s helpful to compare the best CD rates when you’re ready to make a deposit so that you lock in the top option.
A Brokered CD is sold to savers by a brokerage firm acting as a third party, instead of a bank or credit union providing it directly. The CDs available through E*Trade are all Brokered CDs.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
