Best CD Rates in Florida (2026), Top APYs for Florida Retirees
TL;DR: Top nationally available CD APYs open to Florida residents on September 25, 2026 are 4.35-4.50% on 1-year terms and 4.35-4.50% on 5-year terms (DepositAccounts). Florida's zero state income tax means CDs work better here than in CA or NY, but A-rated 5-year MYGAs at 5.50-6.05% (public carrier rate sheets, October 14, 2026) still beat CDs for 3+ year retiree horizons. For Florida retirees focused on yield and predictable income, MYGAs win the bond-replacement bucket; CDs win for short-term liquidity and emergency reserves.
| Product | APY / yield | Source, as of |
|---|---|---|
| Top nationally available 1-year CDs | 4.35-4.50% | DepositAccounts, updated 9/25/2026 |
| Top nationally available 5-year CDs | 4.35-4.50% | DepositAccounts, updated 9/25/2026 |
| Marcus 12-mo / 5-yr | 3.90% / 4.35% | marcus.com, 9/24/2026 |
| Ally 12-mo / 5-yr / No-Penalty 11-mo | 4.15% / 4.10% / 2.70% | ally.com, 9/24/2026 |
| Synchrony 12-mo / 60-mo | 4.10% / 4.35% | synchrony.com, 9/24/2026 |
| U.S. Treasury par yield, 1-yr / 5-yr | 4.50% / 4.98% | treasury.gov, 9/25/2026 |
| A-rated 5-year MYGAs (benchmark) | 5.50-6.05% | public carrier rate sheets, 10/14/2026 |
Local credit union rates were not re-checked for this update and have been removed from the table; check their rate sheets directly.
Best CD rates open to Florida residents (checked September 25, 2026)
| Bank/CU | Term | APY | Min | Type / source |
|---|---|---|---|---|
| HAB Bank | 1 yr | 4.50% | $1,500 | Online, nationwide (DepositAccounts 9/25/2026) |
| EagleBank | 1 yr | 4.45% | $1,000 | Online, nationwide (DepositAccounts 9/25/2026) |
| Sallie Mae Bank | 1 yr | 4.20% | $2,500 | Online bank (salliemae.com 9/24/2026) |
| Ally Bank | 1 yr | 4.15% | $0 | Online bank (ally.com 9/24/2026) |
| Synchrony Bank | 1 yr | 4.10% | $0 | Online bank (synchrony.com 9/24/2026) |
| Marcus by Goldman Sachs | 1 yr | 3.90% | $500 | Online bank (marcus.com 9/24/2026) |
| Popular Direct | 3 yr | 4.50% | $10,000 | Online, nationwide (DepositAccounts 9/25/2026) |
| Marcus by Goldman Sachs | 3 yr / 5 yr | 4.35% | $500 | Online bank (marcus.com 9/24/2026) |
| Bread Savings | 5 yr | 4.50% | $1,500 | Online bank (DepositAccounts 9/25/2026) |
| Ally Bank | 5 yr | 4.10% | $0 | Online bank (ally.com 9/24/2026) |
Rates expire like milk.
The best MYGA, CD and savings rates change every few weeks. Get a short email when a rate on this page changes.
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Florida CD tax treatment
CD interest in Florida is taxed at:
- Federal ordinary income: 10-37% marginal
- NIIT 3.8% if AGI > $200K single / $250K joint
- Florida state tax: zero
- Florida intangibles tax: zero (repealed 2007)
For a Florida retiree in the 22% federal bracket, a 4.50% CD nets ~3.51% after-tax, meaningfully better than the same CD held by a California resident at ~3.00%.
Worked example: Florida CD vs MYGA
Florida retiree, 22% federal, no NIIT. $100K, 5 years.
| Vehicle | Gross rate | Year 5 ending value | After-tax CAGR |
|---|---|---|---|
| 5-yr CD (Bread Savings 4.50%) | 4.50% | $118,826 | 3.51% |
| 5-yr Treasury (4.98% par, 9/25/2026) | 4.98% | $120,991 | 3.88% |
| 5-yr A-rated MYGA (benchmark low) | 5.50% | $123,943 | 4.63% |
| 5-yr A-rated MYGA (benchmark high) | 6.00% | $126,382 | 4.79% |
Florida MYGA edge over the top 5-yr CD: +$5,117 to +$7,556 on $100K over 5 years (MYGA interest taxed once at year 5; CD taxed yearly).
When Florida CDs make sense
- Emergency reserve (3-12 months expenses): A high-yield savings account (Sallie Mae 3.85% on 9/24/2026) currently beats Ally's 11-month No-Penalty CD (2.70%) for near-instant liquidity.
- Sub-1-year cash: 1-yr CDs at 4.35-4.50% (top national, 9/25/2026) cover the short end (few MYGAs run under 3 years).
- Inside Florida prepaid college plans or 529s: CDs are structurally simpler than MYGAs for parents/grandparents.
- Under 59½ retirees: CDs avoid the 10% federal early-withdrawal penalty on annuities.
Florida credit unions worth knowing
- Suncoast Credit Union: Tampa, 1M+ members, competitive CD rates.
- VyStar Credit Union: Jacksonville, large statewide membership.
- Achieva Credit Union: Dunedin, FL, smaller but competitive.
- Space Coast Credit Union: Miramar.
- MIDFLORIDA Credit Union: Lakeland.
Related Florida guides
- Florida retiree cash allocation strategy
- Best Florida MYGA rates
- Florida snowbird MYGA strategy
- FLAHIGA coverage
Florida CD vs MYGA, second opinion before you lock in
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Most Florida savers shopping CDs in 2026 are also a candidate for a MYGA, same lock-up logic, higher rate, deferred tax. A 5-minute call clarifies which fits your bracket and liquidity needs.
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Frequently asked questions
What is the best CD rate in Florida?
As of September 25, 2026, the top nationally available 1-year CDs pay 4.35-4.50% APY and top 5-year CDs pay 4.35-4.50% (DepositAccounts). Online banks such as HAB Bank, Bread Savings, Sallie Mae and Marcus lead; check Florida credit unions (Suncoast, VyStar, Achieva) directly for current certificate specials.
Does Florida tax CD interest?
No state tax. Florida has zero state income tax, so CD interest is taxed only federally (10-37% marginal plus NIIT 3.8% if AGI > thresholds).
Are credit union CDs in Florida better than bank CDs?
Sometimes. Suncoast Credit Union (Tampa), VyStar Credit Union (Jacksonville), and Achieva Credit Union (Dunedin) can run certificate specials; compare their current rate sheets to the 4.35-4.50% national top. NCUA insurance is structurally equivalent to FDIC ($250K per depositor).
Should retirees in Florida favor CDs or MYGAs?
For 3+ year horizons, MYGAs almost always win, by roughly 110-130 bps/year after federal tax at September 2026 rates. For under-1-year cash needs, CDs (especially no-penalty CDs) make more sense for liquidity.
Are Florida CDs a good fit for snowbirds?
Yes, CDs are portable. A snowbird's CD interest is taxed at federal rates only (Florida's zero-state advantage applies as long as Florida is the legal domicile). Online banks (Ally, Marcus) are accessible from anywhere, which suits the snowbird lifestyle.
What's the FDIC limit on Florida bank CDs?
$250,000 per depositor per FDIC-insured bank per ownership category, same federal standard as every state. Use multiple banks or joint accounts to exceed $250K.
Are Florida CDs better than Florida Treasury bills?
In Florida (no state tax), Treasuries lose their state-tax-exemption advantage, so compare gross yields. On September 25, 2026 the 1-year Treasury (4.50%) matched the best 1-year CDs (4.35-4.50%), and the 5-year Treasury (4.98%) beat the best 5-year CDs (4.35-4.50%). Treasuries also sell without an early-withdrawal penalty.
Disclosure
This guide reflects publicly available rate, tax, and state-guaranty-fund information as of the date stated above. MYGA rates, CD rates, state tax brackets, and guaranty-fund limits change frequently, always confirm current values against the most recent carrier disclosure, bank rate sheet, and your state guaranty association's official website before purchasing. This article is general information for educational purposes; it is not a personalized recommendation, solicitation, or offer of any specific product, and is not tax advice. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) appointed with multiple A-rated carriers; appointment status with any specific carrier discussed may vary. No compensation has been received from any carrier or bank in connection with publication of this review. Always read the actual contract and consult a licensed advisor and tax professional before purchasing any annuity or CD. AM Best ratings, state tax law, and IRC tax treatment are subject to change.