Highest Yielding CD Rates for West Virginia, WV

Includes Online Banks, Local Banks and Credit Unions / Updated July 25, 2024

All rates listed are Annual Percentage Yield (APY).

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12-Month Rates

  • 5.38% Online Rate
    12 Month Jumbo CD - $50,000 Min.

    Early Withdrawal Penalty is 3 months interest.

  • 5.35% Online Rate
    12-Month CD - $1,000 Min.

    Early Withdrawal Penalty is 90 days interest.

    | September 3, 2023 |

    The ACH processes at this bank are terrible. At maturity of my CD, the bank refused an external ACH drawn from an outside bank, in spite of providing assurances that this would not happen together with th... More Reviews

  • 5.35% Online Rate
    12-Month CD - $25,000 Min.

    Early Withdrawal Penalty is 6 months interest.

    | June 13, 2023 |

    5% + on a savings rate is attractive, but the phone reps are trained to tell people as a first response to come to a branch to address any inquiries. (Thankfully, I don't live in Florida but I also means ... More Reviews

  • 5.35% Online Rate
    12 Month CD - $50,000 Min.

    Early Withdrawal Penalty is 6 months interest.

  • 5.35% Bank with nearby branch - View
    1-Year CD - $50,000 Min.
  • 5.31% Online Rate
    1-Year CD - $1,000 Min.

    Early Withdrawal Penalty is 90 days interest.

    | June 21, 2021 |

    This account is great. Had first opened an online savings account and then I locked into the 18-month No Penalty CD. While interest is still lost if you get out before a quarterly payment date, it provides... More Reviews

  • 5.31% Online Rate
    1-Year CD - $1,000 Min.

    Early Withdrawal Penalty is 180 days interest.

  • 5.30% Online Rate with branch - View
    12 Months Special EasyStart - $50 Min.

    Special Easy Start Certificate only applies to a maximum deposit of $3,000.

    | June 19, 2024 |

    Least friendly bank I have ever dealt with. First wanted me to abandon my existing bank and move all direct deposit to them. Second no one even smiles or welcomes you. I got the feeling I was wasting t... More Reviews

  • 5.30% Online Rate
    12 Month Online CD - $500 Min.

    Early Withdrawal Penalty is 30 days interest.

    | July 18, 2022 |

    And how is this an online bank if they are inundating me with invitations to a customer appreciation free movie showing in some remote location in Utah? More Reviews

  • 5.30% Online Rate
    12 Month CD - $500 Min.

    Warning: Early Withdrawal Penalty is 12 Months interest.

    | October 13, 2022 |

    might be a good as a local bank, but not set up as an online bank More Reviews

18-Month Rates

24-Month Rates

36-Month Rates

48-Month Rates

60-Month Rates

All rates listed above are Annual Percentage Yield (APY).


What are Certificates of Deposit (CDs)?

CDs, often also called time deposits, are a savings vehicle similar to a savings or money market account, but guaranteeing a fixed rate in return for a consumer’s commitment to keep the money deposited until a specified date (the maturity date). Only in rare circumstances, and with the payment of a penalty, can the money be withdrawn early, and then it is at the bank’s discretion.

What are advantages and disadvantages of certificates of deposit compared to a savings account?

Since the rate is fixed, you avoid the risk of falling savings rates. You take on the risk of rising rates. Rates are above savings rates to compensate you for the risk of rising rates and to provide you with a premium for agreeing to keep your money on deposit until maturity. You should consider the rates above carefully in comparison with the best savings rates that may be available to you. Depending on your view of the direction of rates and the trajectory at which you believe they will rise, you may be more inclined to stick with shorter maturities (1-year) or you may find that that the premium of any CDs over savings rates does not provide adequate compensation.

What are the top current CD rates?

The table above lists best CD rates currently offered for several different maturities (lengths). Rates on longer maturities are ordinarily higher as they provide greater compensation for the risk of rising rates and provide you with a greater premium of depositing your money for a longer time.

Are the funds in certificates of deposit insured?

CDs in FDIC-insured or NCUA-insured institutions are insured so long as you remain within relevant insurance limits, ordinarily to a maximum of $250,000 within an ownership category. If you hold a CD that is accruing interest during the course of CD, you may wish to consider depositing no more than such amount that will, when combined with any other accounts you have at the bank or credit union, exceed $250,000 at maturity.

What is a reasonable Early Withdrawal Fee?

An Early Withdrawal Fee (also called an Early Termination Fee) is the fee charged by a bank for early termination of a CD (termination before maturity). This fee is ordinarily expressed by the bank in terms of months of interest, rather than as a flat fee, and if the CD is cancelled before that period has passed may reduce principal. A reasonable fee for early withdrawal from a CD (early termination of a CD) is said to make the CD more liquid. Rates & Info believes that a reasonable early withdrawal fee for a CD of less than one year is 3 months’ interest and a reasonable early withdrawal fee for a CD of 18 months to 5 years is 6 months’ interest. In a rising interest rate environment or one where you require liquidity, you should avoid CDs with more onerous Early Withdrawal Fees. Under any circumstance, you may wish to also favor No Penalty CDs. You may wish to read this important article in a competing website which indicates that banks may retain the right not to allow early termination even with payment of this fee.

Should I invest in CDs?

Your own risk tolerance level and personal situation determines your allocation to cash versus risk assets. Cash can be apportioned between savings accounts and CDs. However, if you feel interest rates will rise quickly, you should keep all of your cash in high-interest savings accounts.

The graph above shows how the average rates for CD accounts have trended over the last several years.

The graph above shows the difference in rate between average 5-year CD rates and average 1-year CD rates.

Compare Savings and CDs