A certificate of deposit (CD) is a time deposit that is quite similar to a savings account. It helps you earn interest and carries minimal risk. CDs are available in various denominations and have a fixed maturity period and a fixed interest rate. It is best to compare the CD rates before you decide to choose a particular bank. Given below are the 10 best CD rates of 2018.

Marcus by Goldman Sachs®
Marcus by Goldman Sachs® is an online portal that handles several banking products. It has a one-year CD, which earns an annual percentage yield (APY) of 2.55% and a five-year CD which gives an APY of 3.10%.

Citizens Access
This is an online-only service by Citizens Bank. It offers a one-year CD at an APY of 2.50% and a five-year CD at 3.10% with a deposit of at least $5,000.

Capital One 360
For a one-year CD, Capital One offers an APY of 2.50% and for a five-year CD, it gives an APY of 3%. The biggest advantage of it is that it has no minimum deposit requirement.

Synchrony Bank
This is an online bank that has a one-year CD with an APY of 2.45% and a five-year option at 3%.

PenFed Credit Union
This credit union offers competitive interest rates and has a minimum deposit requirement of $1000. The APY for a one-year is 2.45% and for five years, the CD rate stands at 3%.

Barclays
The bank has a one-year CD at an APY of 2.45% and an online-only five-year option at 3%. Barclays does not have any minimum deposit requirement.

Teachers Insurance and Annuity Association of America (TIAA) Bank
Rated as one of the top 10 best CD rates, TIAA bank has a five-year CD with an APY of 3.05% and a one-year CD with an APY of 1.65%. It has a minimum deposit requirement of $5000.

Connexus Credit Union
The CD rates of Connexus are 2.50% for one year and 3.25% for five years. It has a minimum deposit requirement of $5000.

Ally
One of the top Internet-only banks, Ally offers a CD rate of 2.25% for one year and 2.75% for five years. If you deposit a higher amount, you may earn a higher APY.

CIT Bank
The bank has a minimum deposit requirement of $1000 and a one-year CD lets you earn an APY of 2.20%.

Before you invest in a CD, compare the rates to make a wise choice. The CD rates of the above-mentioned banks and credit unions are subject to change, however, the current rates show that it is better to opt for a one-year CD instead of a five-year CD, considering its higher rate and high liquidity.