If you’re looking to grow your money safely while still keeping flexibility, Certificates of Deposit (CDs) are a smart option. But for many savers, the biggest barrier is the minimum deposit requirement—often ranging from $500 to $2,500. Luckily, some banks now offer CDs with no minimum deposit, making it easier for anyone to start saving and earning guaranteed returns.
In this post, we’ll cover the 8 best banks offering CDs with no minimum deposit requirement in 2025, their rates, and why they might be a good fit for you.
1. Ally Bank
- APY: 4.20% (12-month CD)
- Why it stands out: Ally Bank is known for its no minimum deposit requirement and highly competitive rates. You can open a CD with as little as $1 and take advantage of flexible CD options, including Raise Your Rate CDs.
2. Capital One 360
- APY: 4.10% (12-month CD)
- Why it stands out: Capital One offers easy online account management and $0 minimum deposits. It’s ideal for beginners who want a reputable bank without worrying about large initial deposits.
3. Discover Bank
- APY: 4.15% (12-month CD)
- Why it stands out: Discover offers no-minimum CDs with solid APYs and terms ranging from 3 months to 10 years. You also get the benefit of FDIC insurance and Discover’s trusted reputation.
4. Marcus by Goldman Sachs
- APY: 4.30% (12-month CD)
- Why it stands out: Marcus provides high-yield CDs without requiring a large deposit upfront. Their no-penalty CD option also allows withdrawals before maturity, offering added flexibility.
5. Synchrony Bank
- APY: 4.25% (12-month CD)
- Why it stands out: Synchrony combines strong CD rates with no minimum deposit. It also offers perks like loyalty rewards and an easy-to-use online banking platform.
6. Barclays Online Banking
- APY: 4.05% (12-month CD)
- Why it stands out: Barclays is a global bank that provides solid APYs and zero deposit requirements, making it simple to start investing in CDs without committing a large sum.
7. American Express Bank
- APY: 4.00% (12-month CD)
- Why it stands out: Known for its credit cards, American Express also offers competitive CD rates with no minimum deposit. It’s a safe choice for those who want a reliable financial brand.
8. CIT Bank (a division of First Citizens Bank)
- APY: 4.20% (12-month CD)
- Why it stands out: CIT Bank offers no-minimum CDs and is a great option for savers who want flexibility with terms and high yields.
Why Choose a No-Minimum CD?
- Accessibility: Perfect for new savers who don’t have thousands to lock away.
- Low risk: Your money is FDIC-insured up to $250,000.
- Steady returns: CD rates are fixed, protecting you from market volatility.
- Flexibility: You can start small and add more savings later through other products.
Final Thoughts
No-minimum deposit CDs are a game-changer for those who want to grow their money without the stress of large initial investments. Banks like Ally, Marcus, and Capital One make it easy to start saving today, even with just a few dollars.
If you’re looking to build a safe, guaranteed return on your money in 2025, these banks offer some of the best CD options with no minimum deposit requirement.
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