Top CD Rates Soaring Now: Best 3-, 4-, and 5-Year Certificates to Lock In Your Savings

Highlights to Know Today

• CD rates for 3-, 4-, and 5-year terms have surged to 4.30% and above.
• Nuvision Credit Union leads nationwide with an 8-month CD at 5.50%, perfect for short-term savers.
• Ten CDs currently offer yields of 5.00% or higher, including a 1-year CD from Apple Federal Credit Union guaranteeing returns through next November.
• CD rates remain fixed throughout their term, protecting your earnings against future declines in savings account rates.
• With the Federal Reserve cutting rates recently and more cuts expected, locking in longer-term CDs with rates between 4.00% and 4.65% until 2026-2029 is a savvy strategy.
• Act quickly to secure these top CD rates before they disappear.

Below, explore top featured CD rates and our comprehensive national rankings for the best certificates available now.

Secure 5.50% Returns Until Mid-Summer or 5.00% Until Next November

Despite recent Federal Reserve rate cuts, the highest CD rate remains steady at 5.50% for an 8-month term from Nuvision Credit Union, though deposits max out at $5,000. For larger deposits, Newtek Bank offers 5.25% on a 6-month CD, locking in rates until May, while Apple Federal Credit Union’s 12-month CD guarantees 5.00% through next November.

Extend Your Earnings with Multi-Year CD Guarantees

Two-year CDs pay a top APY of 4.30% from Dow Credit Union and PonceBankDirect, while three-year terms reach 4.35% at Dow Credit Union. For longer commitments, Dow Credit Union offers 4.30% for both 4- and 5-year CDs, locking in competitive rates through 2028 and 2029.

With further Federal Reserve rate cuts anticipated, these multi-year CDs provide a reliable way to secure attractive yields before rates potentially decline.

Current CD Rates Still Deliver Strong Returns

Although CD rates have decreased from last year’s peak of over 6%, they remain historically high. Ten institutions offer CDs with rates at or above 5.00%, a significant improvement compared to early 2022 when top rates hovered between 0.50% and 1.70% APY.

Jumbo CDs: Higher Minimums, Selective Higher Rates

While jumbo CDs typically require larger deposits, they don’t always offer better rates. Currently, only the 2-year jumbo CD from Quorum Federal Credit Union outperforms standard CDs with a 4.35% APY versus 4.30%.

What’s Next for CD Rates?

The Federal Reserve recently cut the federal funds rate by 0.25%, following a larger 0.50% cut in September, signaling a shift from the aggressive hikes of 2022-2023 aimed at taming inflation. With inflation easing, further rate reductions are likely, potentially lowering CD rates and savings yields through 2025 and beyond.

Given this outlook, locking in current CD rates now ensures you benefit from these historically strong returns before they decline.

Daily Updated Rankings of Top CDs and Savings Accounts

We refresh our rankings every business day to bring you the best rates across various terms:

• 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

Important Notes

Our "top rates" reflect the highest nationally available yields from hundreds of banks and credit unions, not the national average. Many large banks pay minimal interest, so averages are low, but shopping around can reveal rates 5 to 15 times higher.

Our Methodology for Finding the Best CD Rates

Each business day, we analyze rate data from over 200 federally insured banks and credit unions nationwide. To qualify, institutions must be FDIC or NCUA insured, offer CDs with minimum deposits under $25,000, and have maximum deposits above $5,000. Banks must operate in at least 40 states. Credit unions requiring donations above $40 for membership are excluded. For full details, see our methodology page.

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