Key Takeaways
- The best CD rates held firm today, despite an almost-certain Fed rate cut next week.
- The nation's tip-top rate is 5.35%, available from DR Bank. Its 6-month CD guarantees your rate into 2025.
- To lock your rate further into 2025, the top 1-year offers pay 5.25%, available from two institutions. Or you can score a 5.00% rate for 15 months with Connexus Credit Union.
- The top rate with a 2026 guarantee is 4.90% from LendingClub, for 18 months. Or you can score 4.78% for 2 years from Lafayette Federal Credit Union. Rates in the mid-4% range are available for 3 to 5 years.
- Sooner is better than later on committing to a CD, because upcoming Fed rate cuts are pushing CD rates down.
Below you'll find featured rates available from our partners, followed by details from our ranking of the best CDs available nationwide.
Open a New Account × The offers that appear in this table are from partnerships from which we receive compensation. For more details, see our full advertiser disclosure. Institution Apy Min. To Earn Apy Highlights Open a New Account × The offers that appear in this table are from partnerships from which Dotdash receives compensation.
Guarantee a 5.00% to 5.35% Rate Until 2025
Ahead of a widely anticipated interest-rate cut by the Fed next week—with further reductions likely in November and December—the top CD rates across our nationwide rankings have been edging lower. But thankfully, all of the leading term rates held steady today, giving you more time to lock in these top APYs.
DR Bank continues to lead the national CD market with its leading 5.35% APY on a 6-month term. But if you want to stretch your rate guarantee further into 2025, the best 1-year CDs pay 5.25%. You can score that rate from either Mountain America Credit Union or Merchants Bank of Indiana.
In the 18-month term, the top return is 5.00%, but it's offered for 15 months. That certificate from Connexus Credit Union would lock your rate until December 2025.
Longer-Term CD Rates Have Slipped—But They're Still Smart
If you want to guarantee your rate into 2026, LendingClub is paying 4.90% APY for a full 18 months. And the best 2-year rate is 4.78% from Lafayette Federal Credit Union. Meanwhile, the highest APY that stretches your guarantee until 2027 is EFCU Financial's 4.65%, available for 30 months.
You can also lock in a 4.50% return into 2028 with a 4-year certificate from SecurityPlus Federal Credit Union, or a 4.32% return available from Lafayette Federal Credit Union for 5 years—extending your guaranteed rate until late 2029.
Despite paying lower annual percentage yields (APYs) than shorter CDs, attractive multi-year CDs are a smart move before the Fed starts cutting its benchmark federal funds rate. That's all-but-certain to begin Sept. 18 and is likely to continue with additional 2024 and 2025 cuts. Downward pressure on interest rates could even persist into 2026.
| CD Terms | Friday's Top National Rate | Today's Top National Rate | Day's Change (percentage points) | Top Rate Provider |
| 3 months | 5.25% | 5.25% | No change | Merchants Bank of Indiana and Financial Partners Credit Union |
| 6 months | 5.35% | 5.35% | No change | DR Bank |
| 1 year | 5.25% | 5.25% | No change | Mountain America Credit Union and Merchants Bank of Indiana |
| 18 months | 5.00% | 5.00% | No change | Connexus Credit Union |
| 2 years | 4.78% | 4.78% | No change | Lafayette Federal Credit Union |
| 3 years | 4.65% | 4.65% | No change | EFCU Financial |
| 4 years | 4.50% | 4.50% | No change | Securityplus Federal Credit Union |
| 5 years | 4.32% | 4.32% | No change | Lafayette Federal Credit Union |
Today's Best CDs Still Promise Stellar Returns
It's true that CD returns are no longer at their absolute peak. But they're still running historically high. October brought us a top nationwide rate of 6.50%—for just a few days—while today the leading rate is down to 5.35%. Still, dozens of banks and credit unions are offering 5.00% or better. In fact, a total of 16 offers among the best nationwide CDs pay 5.25% and up.
Compare that to early 2022, before the Federal Reserve embarked on its fast-and-furious rate-hike campaign. The most you could earn from the very best CDs in each term ranged from just 0.50% to 1.70% APY.
Jumbo CD Rates Lead in Four Terms
Jumbo CDs require much larger deposits, but they don't always offer higher rates. Right now, the best jumbo CDs lead in four of the eight terms we track.
Among 18-month certificates, Connexus Credit Union's 15-month jumbo CD pays 5.10% vs. 5.00% for today's leading rate among standard 18-month certificates. And in the 2-year term, you can earn more with Lafayette Federal Credit Union's 4.84% jumbo certificate than with the best standard CD rate of 4.78%.
Meanwhile, EFCU Financial's 3-year jumbo rate of 4.75% is the winner in that term. And the recent drop in the leading 5-year rate means you can now earn more with State Department Federal Credit Union's 5-year jumbo, which pays 4.37% vs. the top standard rate of 4.32%.
| CD Term | Today's Top National Bank Rate | Today's Top National Credit Union Rate | Today's Top National Jumbo Rate |
| 3 months | 5.25% APY* | 5.25% APY* | 4.90% APY |
| 6 months | 5.35% APY* | 5.25% APY | 5.30% APY |
| 1 year | 5.25% APY* | 5.25% APY* | 5.25% APY* |
| 18 months | 4.90% APY | 5.00% APY | 5.10% APY* |
| 2 years | 4.55% APY | 4.78% APY | 4.84% APY* |
| 3 years | 4.40% APY | 4.65% APY | 4.75% APY* |
| 4 years | 4.35% APY | 4.50% APY* | 4.48% APY |
| 5 years | 4.25% APY | 4.32% APY | 4.37% APY* |
How Far—and Fast—Will CD Rates Fall in 2024?
As expected, the Federal Reserve kept the federal funds rate at its current level at its meeting that ended July 31. But speaking on Aug. 23 at the Fed's annual meeting in Jackson Hole, Fed Chair Jerome Powell signaled that the central bank is finally ready to pivot to rate cuts. He refrained, however, from indicating how large the rate reductions would be—or how fast they will come.
"The time has come for policy to adjust," Powell said. "The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks."
In addition, other Fed committee members spoke publicly after Friday's release of the latest jobs report, saying the time for rate cuts had come.
"I believe it is important to start the rate-cutting process at our next meeting," said Federal Reserve Gov. Christopher Waller.
According to the CME FedWatch tool, investors are currently split on whether the Fed will lower rates by 0.25 or 0.50 percentage points on Sept. 18, though about 70% are betting on the smaller cut. But by the Dec. 18 meeting, an overwhelming majority of traders predict the Fed will have lowered the federal funds rate by at least a full percentage point.
The central bank's mission to beat inflation led it to raise the federal funds rate 11 times between March 2022 and July 2023—bringing the benchmark interest rate to its highest level in 22 years. The rate-hike campaign has been a boon to savers with cash in the bank, as the fed funds rate directly influences the rates banks and credit unions pay on CDs. As a result, CD rates hit a 20-year high last fall. Those with money in ahigh-yield savings or money market account have also benefited from these historically high rates.
Fed officials are generally careful not to jump the gun and will likely continue waiting for additional reports before making any decisions about changing the fed funds rate. But with a rate cut almost certain in just over a week—and CD rates moving down without waiting for the central bank's official announcement—it would be wise to lock in an excellent CD rate while you can.
Daily Rankings of the Best CDs and Savings Accounts
We update these rankings every business day to give you the best deposit rates available:
Best 3-Month CD Rates
Best 6-Month CD Rates
Best 1-Year CD Rates
Best 18-Month CD Rates
Best 2-Year CD Rates
Best 3-Year CD Rates
Best 4-year CD Rates
Best 5-Year CD Rates
Best High-Yield Savings Accounts
Best Money Market Accounts
Note that the "top rates" quoted here are the highest nationally available rates Investopedia has identified in its daily rate research on hundreds of banks and credit unions. This is much different than the national average, which includes all banks offering a CD with that term, including many large banks that pay a pittance in interest. Thus, the national averages are always quite low, while the top rates you can unearth by shopping around are often 5, 10, or even 15 times higher.
How We Find the Best CD Rates
Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs to customers nationwide and determines daily rankings of the top-paying certificates in every major term. To qualify for our lists, the institution must be federally insured (FDICfor banks,NCUAfor credit unions), the CD's minimum initial deposit must not exceed $25,000, and any specified maximum deposit cannot be under $5,000.
Banks must be available in at least 40 states. And while some credit unions require you to donate to a specific charity or association to become a member if you don't meet other eligibility criteria (e.g., you don't live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, read our full methodology.
Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy.
Federal Reserve Board. "Federal Reserve Issues FOMC Statement, July 31, 2024."
Federal Reserve Board. “Speech by Governor Waller on the economic outlook.”
CME Group. "CME FedWatch Tool."
