Safe Money · verified 2026-10-24
Best no-penalty CDs: a locked rate, without the lock.
As of Oct 24, 2026, the best no-penalty CD rates CashWars verified are: Marcus by Goldman Sachs 4.00%, CIT Bank (division of First Citizens Bank) 3.90%, Marcus by Goldman Sachs 3.80% APY. You can take your money out early without a fee, usually after the first week.
Safe Money · CD rates · 3-month · 6-month · 1-year · 2-year · 3-year · 5-year · No-penalty CDs · Savings · Money market · Treasuries
| # | Bank | APY | Term | Minimum to open | Early withdrawal penalty | Insured | Source |
|---|---|---|---|---|---|---|---|
| 1 | Marcus by Goldman Sachs 11-month No-Penalty CD | 4.00% | 11 months | $500 | None after 7 days (must withdraw full balance) | FDIC insured | Bank's page as of Oct 24, 2026 |
| 2 | CIT Bank (division of First Citizens Bank) No-Penalty 11-month CD | 3.90% | 11 months | $1,000 | None after 7 days | FDIC insured | Bank's page as of Oct 24, 2026 |
| 3 | Marcus by Goldman Sachs 13-month No-Penalty CD | 3.80% | 13 months | $500 | None after 7 days (must withdraw full balance) | FDIC insured | Bank's page as of Oct 24, 2026 |
| 4 | Marcus by Goldman Sachs 7-month No-Penalty CD | 3.75% | 7 months | $500 | None after 7 days (must withdraw full balance) | FDIC insured | Bank's page as of Oct 24, 2026 |
| 5 | Ally Bank 11-month No Penalty CD | 2.90% | 11 months | $0 | None after the first 6 days | FDIC insured | Bank's page as of Oct 23, 2026 |
No-penalty CDs, in plain words
A no-penalty CD locks in a rate like a regular CD, but you can take all of your money out early without paying a fee, usually starting a week after you put it in. It's a good fit for money you probably won't need but want to be able to reach. The catch: you usually have to withdraw the whole balance at once, and the rate is a little lower than a regular CD.
Is my money safe?
Yes, up to the limit. Every bank here is FDIC insured and every credit union is NCUA insured. That means the U.S. government backs your deposits up to $250,000 per person, per bank, for each type of ownership (for example, your own account, a joint account with your spouse, and a retirement account each count separately). If a bank fails, you get your money back up to that limit. According to the FDIC, no depositor has lost a penny of insured funds since it began in 1934.
Have more than $250,000? Spread it across banks, or add a joint owner or payable-on-death beneficiaries. FDIC: how coverage works · NCUA coverage
APY (annual percentage yield) is what $100 earns in a year, including interest on interest. Early withdrawal penalty is the interest you give up if you take money out of a regular CD before it ends.
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