Unlock Top CD Rates Today: Secure 5.50% APY with an 8-Month Guarantee

Highlights to Know Now

• Nuvision Credit Union leads with a top 5.50% APY on an 8-month CD, locking in your returns until mid-2025.
• Apple Federal Credit Union offers a 1-year CD at 5.00%, guaranteeing a strong return through next November.
• CD rates remain fixed during the term, unlike savings accounts that can fluctuate, providing financial certainty.
• Longer-term CDs from 4.30% to 4.65% APY are available, securing your earnings through 2026 to 2029 amid expected Fed rate cuts.
• Act quickly to claim these high rates as they may not last long.

Below, discover the best CD rates nationwide and how to choose the right term for your financial goals.

Secure 5.50% APY for 8 Months or 5.00% for a Full Year

Despite recent Federal Reserve rate reductions, top CD rates remain attractive. Nuvision Credit Union offers a standout 5.50% APY on an 8-month term, though with a $5,000 deposit cap. For larger deposits, Newtek Bank’s 6-month CD at 5.25% or Apple Federal Credit Union’s 12-month CD at 5.00% provide excellent alternatives, locking in returns until May or November 2025 respectively.

Extend Your Earnings with Multi-Year CDs

Dow Credit Union and PonceBankDirect offer competitive 2-year CDs at 4.30% APY, while Dow Credit Union’s 3-year CD pays 4.35%. For even longer commitments, Dow Credit Union leads with 4.30% APY for both 4-year and 5-year terms, securing your rate well into 2028 and 2029. These multi-year CDs are a wise choice amid anticipated Federal Reserve rate cuts, ensuring you maintain high returns despite future market shifts.

Current CD Rates Remain Historically Strong

Though CD rates have eased from last year's peaks above 6%, they still offer historically high returns. Ten institutions currently provide rates of 5.00% or higher, a significant increase compared to early 2022, when top CDs yielded between 0.50% and 1.70% APY.

Jumbo CDs: Higher Deposits, Selective Rate Advantages

Jumbo CDs require larger deposits but don't always offer better rates. Presently, only 2-year jumbo CDs from Quorum Federal Credit Union surpass standard rates, offering 4.35% APY compared to the standard 4.30%.

Forecast: What’s Next for CD Rates?

The Federal Reserve has initiated a series of rate cuts, including a 0.25% reduction last week following a 0.50% cut in September. This signals a shift from the aggressive rate hikes of 2022-2023 aimed at controlling inflation. Market expectations suggest further cuts in December 2024 and potentially into 2025, which will likely drive CD rates lower. Securing a high-rate CD now is a strategic move to protect your savings from future declines.

Daily Updated Rankings of Best CDs and Savings Accounts

We provide daily updates on top deposit rates nationwide, including:

• Best 3-Month CDs
• Best 6-Month CDs
• Best 1-Year CDs
• Best 18-Month CDs
• Best 2-Year CDs
• Best 3-Year CDs
• Best 4-Year CDs
• Best 5-Year CDs
• Best High-Yield Savings Accounts
• Best Money Market Accounts

Important Considerations

Our top rates reflect the highest nationally available APYs found through comprehensive daily research across hundreds of banks and credit unions—not the national average, which is typically much lower. By shopping around, you can find rates 5 to 15 times higher than average.

How We Identify the Best CD Rates

Every business day, we analyze rate data from over 200 federally insured banks and credit unions nationwide. Institutions must meet criteria including FDIC or NCUA insurance, deposit minimums not exceeding $25,000, and maximum deposits above $5,000. Banks must serve at least 40 states, and credit unions with high donation requirements are excluded. For full details, see our methodology.

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