Unlock Top CD Rates Now: Secure Up to 5.25% APY Before 2025

Essential Highlights

• Top CD rates remain steady at 5.25%, following a recent dip from 5.35% earlier this week.
• Multiple financial institutions offer this competitive 5.25% APY for terms ranging from 3 to 12 months.
• For longer-term security, Connexus Credit Union provides a 5.00% guaranteed rate over 15 months, locking in your return through 2025.
• Looking beyond 2025? LendingClub offers an 18-month CD at 4.90%, while Lafayette Federal Credit Union features a 2-year CD at 4.78%. Rates in the low to mid-4% range are available for 3 to 5-year terms.
• With the Federal Reserve expected to reduce rates starting next week, now is the optimal time to secure high-yield CDs.

Below, explore featured rates from our trusted partners and the latest nationwide CD rankings.

Secure 5.00% to 5.25% Rates Through 2025

After a slight midweek decline, top CD APYs have stabilized at 5.25%. Anticipation of Federal Reserve rate cuts in the coming months has prompted a gradual decrease in yields, but today's peak rates still offer excellent value.

Fifteen certificates currently pay 5.25%, with terms spanning from 3 months up to 12 months. Notably, Mountain America Credit Union and Merchants Bank of Indiana both provide 12-month CDs at this rate.

For those seeking extended rate protection, Connexus Credit Union's 15-month CD guarantees 5.00% APY, securing your earnings until December 2025.

Long-Term CDs: Slight Declines but Still Strategic

If you're aiming to lock in rates through 2026 or beyond, LendingClub offers an 18-month CD at 4.90% APY, while Lafayette Federal Credit Union's 2-year CD yields 4.78%. For an even longer commitment, EFCU Financial's 30-month CD pays 4.65%, locking in returns until 2027.

Although 3-year bank CDs have seen a minor rate drop, Northpointe now leads with a 4.35% APY. Credit unions like EFCU Financial and SecurityPlus Federal Credit Union offer attractive alternatives with 4.65% for 30 months and 4.50% for 4 years, respectively. Lafayette Federal Credit Union also provides a 5-year CD at 4.32%, securing your rate through late 2029.

Despite slightly lower yields compared to shorter terms, multi-year CDs remain a prudent choice ahead of anticipated Federal Reserve rate cuts starting September 18, 2024, with further reductions expected through 2025 and possibly into 2026.

Current CD Rates Still Deliver Exceptional Earnings

While today's CD rates have eased from their recent peaks, they remain historically elevated. October briefly saw nationwide top rates at 6.50%, but the current leading rate is a solid 5.25%. Numerous banks and credit unions continue to offer 5.00% or higher, with 15 top CDs paying 5.25% or more nationwide.

For perspective, early 2022 saw top CD APYs ranging only from 0.50% to 1.70%, before the Federal Reserve's aggressive rate hikes began.

Jumbo CDs Offer Higher Yields Across Multiple Terms

Though jumbo CDs require larger deposits, they often provide superior rates. Currently, jumbo CDs lead in five of the eight terms tracked:

• My eBanc offers a 6-month jumbo CD at 5.30%, surpassing the standard top rate of 5.25%.
• Connexus Credit Union’s 15-month jumbo CD pays 5.10%, above the 5.00% standard 18-month rate.
• Lafayette Federal Credit Union’s 2-year jumbo CD yields 4.84%, beating the 4.78% standard rate.
• EFCU Financial’s 3-year jumbo CD offers 4.75%, higher than the 4.65% standard rate.
• State Department Federal Credit Union’s 5-year jumbo CD pays 4.37%, edging out the 4.32% standard rate.

Forecast: How Much Will CD Rates Drop in 2024?

Following the Federal Reserve’s July 31 decision to maintain current rates, Chair Jerome Powell indicated a shift toward rate cuts is imminent, though the scale and speed remain uncertain.

"The time has come for policy to adjust," Powell stated, emphasizing that the pace of cuts will depend on forthcoming economic data and risk assessments.

Other Fed officials have echoed this sentiment, with Governor Christopher Waller advocating for initiating rate reductions at the next meeting.

August inflation data suggests a modest cut of 0.25 percentage points is likely, as core inflation rose due to increased shelter costs.

According to the CME Group's FedWatch Tool, 85% of traders expect a quarter-point cut next week, with a full percentage point reduction anticipated by December 18.

The Fed’s prior rate hikes—11 increases between March 2022 and July 2023—have driven benchmark rates to 22-year highs, benefiting savers through elevated CD and high-yield savings account rates.

Given the likelihood of imminent rate cuts and the current downward trend in CD yields, locking in a top CD rate today is a wise financial move.

Daily Updated Rankings of Top CDs and Savings Accounts

We refresh these rankings every business day to present the best deposit rates nationwide:

• 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 Note

The "top rates" highlighted are the highest nationally available APYs identified through comprehensive daily research of hundreds of banks and credit unions. These figures differ significantly from national averages, which include many large banks offering minimal interest. By comparison, top rates can be 5 to 15 times higher, rewarding diligent shoppers.

Our Methodology for Finding the Best CD Rates

Each business day, we analyze rate data from over 200 FDIC- and NCUA-insured financial institutions nationwide. To qualify, CDs must have a minimum deposit requirement not exceeding $25,000, with maximum deposits above $5,000. Banks must operate in at least 40 states. Credit unions with donation requirements exceeding $40 for membership are excluded to ensure accessibility.

For detailed information on our selection criteria, please refer to our full methodology.

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