The Best CD Rates in New Hampshire for 2025

CDs can help you meet your savings goals, both in the near and long term. If you're a New Hampshire resident, you may be interested in which banks offer the most competitive rates. We've done the research to find the best CD rates available in New Hampshire now. 

The Best CD Rates in New Hampshire

Franklin Savings Bank

Franklin Savings Bank has a smaller selection of CDs compared to other banks, but it's worth a look if you're seeking higher rates. You can open an 8- or 15-month CD, or a 13-month IRA CD, all of which earn competitive rates. The minimum opening deposit for IRA CDs is $1,000; for other CDs, it's $2,000. 

Bank of New Hampshire

Bank of New Hampshire offers regular CDs with terms ranging from 6 months to 5 years, as well as special CDs with terms of 5, 10 or 18 months. The highest rates are reserved for special CDs, which require a $5,000 minimum opening deposit. The minimum to open other CD accounts at Bank of New Hampshire is $500. 

Meredith Village Savings Bank

Meredith Village Savings Bank offers standard and IRA CDs, along with one special add-on CD. Standard and IRA CD terms range from 90 days to 5 years; the add-on CD has a 6-month term. You'll get the best rate with the regular 6-month CD; all CD accounts have a $500 minimum opening deposit requirement. 

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 New Hampshire, the MyBankTracker team surveyed the certificate of deposit accounts offered by the top 50 retail banks by deposit market share in New Hampshire (based on FDIC June 2024 data) with more than 10 locations in the state--includes coverage and availability in major cities including Manchester, Nashua and Concord. 

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?

CDs work by allowing you to earn interest over a set term. At the end of the term, your CD matures and you can decide what to do with it next. CDs are a safe, secure way to save since you can earn a guaranteed interest rate. 

You can find CDs at big banks, regional banks, community banks, online banks and credit unions. Terms, rates and minimum deposit requirements vary by bank. 

What happens when your CD matures? That's up to you. You can:

• Roll your savings over to a new CD for the same term or a different term
• Withdraw just the interest and put the rest into a new CD
• Withdraw all the money from your CD

CDs can pay rates that are on par with high-yield savings accounts or money market accounts, but they don't offer the same degree of flexibility. With a savings or money market account, you can withdraw money when you need it. With CDs, the bank expects you to leave your savings untouched until maturity. 

How to Choose a CD

New Hampshire CDs aren't all alike, and it's wise to spend some time comparing them. Here are some of the most important factors to weigh when choosing a CD to open. 

Interest rate

CD rates determine how much room your money has to grow. The higher the rate, the better for you. 

Banks typically use a benchmark rate to decide where to set CD rates. If the benchmark rate goes up or down, banks can adjust CD rates accordingly. Your rate won't change during your CD term, but you may earn a higher or lower rate on any future CD accounts you open. 

Rates can vary for different types of CDs. Banks may offer promotional or special CDs, for example, that pay significantly more than their standard or regular CD products. 

Aside from an opening deposit requirement, you might need to meet a minimum balance requirement for a CD. That means the bank expects you to keep a certain amount of money in your account if you want to earn the highest advertised rate. 

Maturity term

Your CD's maturity term is how long the bank requires you to leave money in your account. CDs can have short terms of a few days or a few months, or terms that last for years. 

Which CD term is right for you? Here's how to decide:

• Short-term CDs (1-12 months) may be better if you know you'll need the money fairly soon and you can lock in a great rate. 
• Mid-term CDs (1-3) can pay higher rates if you're comfortable waiting a little longer to make a withdrawal.
• Long-term CDs (3+ years) are generally better for saving money you know you won't need any time soon. 

Maturity terms can influence CD rates. With standard CDs, the sweet spot for rates is usually in the 12 to 18-month range. However, some banks may pay the highest rates for promotional CDs with terms of 12 months or less. 

Minimum opening deposit

You'll need money to open a CD, and banks can specify the minimum deposit requirement. For example, you might need $100 to $1,000 to open a standard CD, while jumbo CDs might require $10,000 or more to open. 

Some banks don't have a minimum opening deposit requirement. That sounds great if you're just starting to save, but keep in mind that you won't earn as much interest. 

Lower deposit requirements are attractive for building a CD ladder. When you ladder CDs, you open multiple accounts with different terms. CD laddering can help you avoid early withdrawal penalties and keep pace with changing interest rates. 

Early withdrawal penalty

Banks can apply early withdrawal penalties when you take money out of a CD before it matures. The penalty is meant to discourage you from tapping into your savings early. 

The fee you pay depends on the bank. You might be charged:

• A flat fee
• A fee that's equivalent to some or all of the interest earned
• A combination of both

No penalty CDs don't have these fees. With this kind of CD, you can make withdrawals during the term without a fee. However, you might earn a lower interest rate with a no-penalty CD, so you have to consider whether the added accessibility is worth it to you.  

Flexibility options

Standard or regular CDs let you earn a set interest rate for a set term. They're pretty straightforward, but they aren't the only way to save. Your bank may offer other CD options, including:

• No penalty CDs
• Bump up or raise your rate CDs 
• Add-on CDs
• Jumbo CDs
• IRA CDs
• Special or promotional CDs

You might lean toward one type of CD more than another, or open a mix of different CD accounts. Consider your goal or reason for opening a CD account and how each CD option aligns with that. 

Make Sure to Compare with Online Banks

Online banks operate digitally, which means they typically don't have branch locations. So why would you choose an online CD over a traditional bank CD?

It's all about the benefits. Online banks may offer: 

• Better interest rates for CDs
• Lower opening deposit requirements
• Greater variety of CD types and terms
• Fewer fees

Online and mobile banking can help you manage your CD accounts. You can log in to view your balance, check your interest earnings, update your renewal choices for when the CD matures or even open a new CD account. 

Learn more about the best online banks for CD savers. 

FDIC Insurance

FDIC insurance protects depositors up to $250,000 in the rare event that a bank fails. This coverage is automatic at member banks you have accounts with; you don't have to do anything special to sign up for it. 

Having an FDIC-insured CD means you have added protection and security for your savings. Most banks--including online banks--are covered by the FDIC; you can check their website or visit a branch for confirmation. 

The FDIC doesn't insure credit union accounts, which is important to know if you're considering a credit union CD. The National Credit Union Administration (NCUA) insures you instead, and the coverage limit is the same. 

FAQs

Is CD interest taxable? 

The IRS considers CD interest to be taxable income, which means you'll need to include it on your annual tax return filing. Your bank or credit union should send you a Form 1099 at the end of the year showing the amount of interest earned. You're also required to report CD interest at the state level if your state has an income tax. New Hampshire doesn't have personal income tax, and it doesn't tax interest or dividends either. 

Are CDs safe?

CDs are a safe place to keep your money until you're ready to use it. If your bank is FDIC-insured, you're protected against bank failures up to the $250,000 limit. And since CDs have fixed interest rates, it's virtually impossible to lose any money. 

What is a brokered CD?

Brokered CDs are CDs that are issued by banks but sold through a brokerage. They can potentially earn higher rates than traditional CDs, but there's some risk involved. Brokered CDs are tied to the market, which means you could lose money with these investments. 

Is a CD a good way to save?

CDs can be a good way to save money that you know you won't need until the term ends. The benefits of CDs include a guaranteed rate of return, FDIC protection and competitive rates. The downsides are that CDs require you to lock your money in for a set term, and except for raise your rate or bump up CDs, they don't offer any insulation from changing interest rates.