Top 30 CDs Offering 5.50%+ APY in 2025: Lock In Rates Up to 5.75% Today

Since August 2023, the availability of high-yield CDs has doubled, presenting savers with more opportunities than ever to earn premium interest rates.

With CD rates climbing steadily, you now have 30 outstanding options offering at least 5.50% annual percentage yield (APY). This is a significant increase from just 15 choices at the beginning of last August.

30 Best Nationwide CD Rates to Secure in 2024

All CDs listed below are accessible to customers across the United States, including those offered by credit unions, and are backed by federal insurance—either the Federal Deposit Insurance Corporation (FDIC) for banks or the National Credit Union Administration (NCUA) for credit unions. This guarantees deposit protection up to $250,000 even in rare cases of institutional failure.

Different CDs cater to various financial goals and deposit amounts, so having a broad selection helps you find the perfect fit. While the highest APY currently stands at 5.75%, the difference in earnings compared to a 5.50% CD is marginal. Focus on selecting a term length and minimum deposit that align with your investment strategy.

Benchmark Leader CDs Offering 5.50% APY or Higher

Click the links for detailed terms and conditions on each CD option.

Lock in Long-Term Record Rates

If you’re interested in locking in today’s record rates for longer durations, check our daily updated rankings for 3-year, 4-year, and 5-year CD options.

Why Are CD Rates at Historic Highs in 2024?

The Federal Reserve has aggressively raised the federal funds rate since March 2022 to combat persistent inflation. With 11 rate hikes totaling 5.25%, the benchmark rate has surpassed levels not seen since 2001.

This monetary policy shift has propelled CD rates upward throughout 2023 and into 2024. For example, the top 1-year CD rate has surged from 0.80% APY before the Fed’s rate hikes to an impressive 5.75% APY today.

Will CD Rates Continue Rising in 2024?

Future CD rates depend heavily on the Federal Reserve’s decisions regarding additional rate hikes. The Fed’s July 2023 statement left open the possibility of further increases to meet the 2% inflation target.

Federal Reserve Chairman Jerome Powell has indicated that the committee is undecided about raising rates again in 2024, with September meetings presenting both hike and pause scenarios.

Currently, market expectations suggest only a 10-15% chance of a September hike, with November or December hikes more likely at 35-40%.

If the Fed raises rates further, CD yields could climb modestly higher. However, with rates already near historic highs, any gains will likely be incremental. Conversely, if the Fed holds steady, CD rates may gradually decline.

Smart Saving Tips

If you prefer liquidity over locking funds in a CD, consider exploring our daily rankings of the best high-yield savings accounts and money market accounts, which also offer competitive, record-level interest rates.

How We Collect and Verify CD Rates

Investopedia monitors rates from over 200 federally insured banks and credit unions nationwide every business day. To qualify for our rankings, institutions must be FDIC or NCUA insured, have minimum deposit requirements not exceeding $25,000, and be available in at least 40 states. Credit unions requiring donations over $40 for membership are excluded.

For more details on our methodology and selection criteria, please visit our full rate collection process documentation.

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