Rate Alert: Phoenix-area residents can earn up to 4.20% locally — nearly 8x the national average — with just $500 at Mountain America Credit Union. The best overall rate is 4.30% through Raisin online. Arizona has a flat 2.5% state income tax on interest earned, so factor that in when comparing returns.

Best CD Rates — Phoenix, AZ

Institution	APY	Term	Min. Deposit	Insured By	Standing
Raisin (Online)	4.30%	12 months	$1	FDIC/NCUA	Best Rate — AZ Residents
Mountain America Credit Union	4.20%	24 months	$500	NCUA	Best Local Rate
Mountain America Credit Union	4.05%	60 months	$500	NCUA	5-Year Rate
Mountain America Credit Union	4.00%	30–48 months	$500	NCUA	Competitive
Mountain America Credit Union	3.95%	18 months	$500	NCUA	Strong
Marcus by Goldman Sachs	3.90%	12 months	$500	FDIC	Strong Online Rate
Arizona Financial Credit Union	3.75%	6 or 11 months	$1,000	NCUA	Phoenix CU
Arizona Financial Credit Union	3.50%	12 months	$1,000	NCUA	Standard Rate
National Average	0.55%	12 months	Varies	—	Benchmark

💡 Pro Tip — Phoenix Residents

Mountain America Credit Union has 8 branches in the Phoenix metro area and their 24-month certificate at 4.20% APY with just a $500 minimum is genuinely one of the best local CD deals in the Southwest. Membership is open to anyone who lives or works in eligible Arizona communities — visit a branch to join. If you prefer a 12-month term or want zero minimum, Raisin at 4.30% beats everything locally. Arizona Financial (AZFCU) is Phoenix-based and a solid local alternative, though their standard rates run lower. Also note: Arizona’s 2.5% flat state income tax applies to CD interest — still a great deal, but worth noting when comparing net returns.

Best Savings Rates — Phoenix, AZ

Institution	APY	Min. Balance	Type	Standing
Raisin (Online)	4.30%	$1	Money Market	Top Pick
Marcus by Goldman Sachs	3.90%	$0	High-Yield Savings	Strong
National Average	0.46%	Varies	Savings	Benchmark