The Best CD Rates in Colorado for 2025

Colorado boasts a diverse financial landscape with a wide array of banks. With so many options available, residents might feel overwhelmed when trying to find and compare the best certificates of deposit (CDs). To simplify the process, we’ve done the research to highlight the top CD rates for savers in Colorado.

The Best CD Rates in Colorado

Independent Financial

Independent Financial offers a solid range of CD maturity terms ranging from 30 days to 5 years. More importantly, the CD rates (especially for longer terms) are much higher than what you’d find from most other local Colorado banks. Also, the bank runs promotional CD rates that are very attractive and competitive. The minimum balance requirement for standard Independent Financial CDs is $1,000.

BMO Bank

BMO Bank stands out with their occasional CD rate specials, which are highly competitive–though these tend to have uncommon maturity terms that span different timeframes, such as 13 months to 59 months. Still, there is likely a special CD maturity term that aligns with your savings goal. The minimum deposit requirement for BMO Bank CDs is $1,000.

Zions Bank

Zions Bank offers CDs with maturity terms from 7 days to 5 years. The bank’s CD rates are rather impressive across the board–they are very strong compared to what you might find with the big national banks. The minimum deposit requirement for Zions Bank personal CDs is $1,000.

Lock In The Highest CD Rates Before Interest Rates Crash Again

The Federal Reserve plans to continue dropping interest rates. To ensure that you continue to generate reliable returns for years to come, consider a CD now to lock in the highest available rates:

Methodology

To choose the best CD rates in Colorado, the MyBankTracker team surveyed the certificate of deposit accounts offered by the top 50 banks by deposit market share in Colorado (based on FDIC June 2024 data) with more than 5 retail branches in the state--for coverage and availability in major cities including Denver, Colorado Springs, Aurora, Fort Collins, and Lakewood.

The top recommendations are the results of analyzing the CDs based on the following criteria:

• Annual percentage yield (APY) for each CD’s corresponding maturity term
• The number of CD maturity terms available from the bank with which their corresponding APYs are competitive
• Minimum opening deposit requirements

How Do CDs Work?

Certificates of deposit (CDs) are a type of savings account offered by banks and credit unions that allow you to earn a fixed interest rate on your deposited funds for a predetermined period. Unlike traditional savings accounts, where interest rates can fluctuate, CDs lock in an interest rate for the duration of the term, known as the maturity date.

This fixed-rate guarantee makes CDs popular for individuals looking for predictable returns and a safe way to grow their money over time.

How to Pick a Certificate of Deposit

Choosing the right CD depends on your individual financial goals and circumstances:

• Interest rate: The interest rate is crucial as it determines how much your money will grow. Always compare rates from different banks and credit unions to ensure you're getting the best possible return.
• Maturity term: CDs come with various maturity terms, ranging from a few months to several years. Short-term CDs generally offer lower interest rates but provide quicker access to your funds. Long-term CDs typically have higher interest rates, but your money will be locked in for a longer period.
• Minimum opening deposit: Each CD has a minimum deposit requirement. Some banks might require a few hundred dollars, while others offer low-minimum CDs starting from $1.
• Early withdrawal penalty: Withdrawing funds from a CD before its maturity date typically incurs a penalty, potentially eating into your interest earnings or even costing you some of your principal.
• Flexibility options: Some CDs come with features that provide flexibility.
  • Bump-up CDs: These CDs allow you to increase the interest rate if market rates rise during the term.
  • Add-on CDs: These allow you to make additional deposits to the CD during its term, potentially increasing your earnings.

Compared to Online CDs Available Nationwide

When searching for a CD, online banks are worth considering alongside traditional brick-and-mortar institutions.

Advantages of online CDs include:

• Higher interest rates: Online banks often offer more competitive interest rates on CDs compared to traditional banks because they have lower overhead costs.
• Lower minimum deposit requirements: Many online banks allow you to open a CD with as little as $1, making them accessible to individuals with limited savings.

FDIC Insurance

The Federal Deposit Insurance Corporation (FDIC) insures deposits up to $250,000 per depositor, per insured bank, for each account ownership category. This means your funds are protected in the unlikely event that the bank fails.

FAQs

What happens when a CD reaches maturity? Does it renew?

When a CD matures, you can choose to withdraw the principal and interest or roll it over into a new CD with potentially updated rates.

What is a CD ladder?

A CD ladder involves investing in multiple CDs with staggered maturity dates, providing a balance of liquidity and higher returns.

How is interest accrued in a CD? 

Interest typically accrues daily on the principal balance and is compounded at regular intervals (often monthly or quarterly).

How are interest earnings in CDs taxed?

The interest earned on CDs is generally considered taxable income and reported on your federal income tax return.