Top CD Rates in 2025: Best Deals at 5.75% APY with a Single 9-Month Option

Explore the latest trends in Certificate of Deposit (CD) rates across various terms in 2024.

The recently introduced 14-month CD at an impressive 5.75% APY from INOVA Federal Credit Union was withdrawn after just one day, leaving Andrews Federal Credit Union as the sole provider of the top 5.75% APY rate on a 9-month CD.

Alongside this, there are over 20 other CDs offering rates of 5.50% APY or higher, giving savers multiple high-yield options.

Key Highlights

• The highest nationwide CD rate remains at 5.75% APY, now available only on a 9-month term.
• Our daily rankings identify 21 "Benchmark Leader" CDs paying at least 5.50% APY.
• Longer-term CDs offering 5.00% APY or more include a 3-year CD at 5.13% APY and a 4-year jumbo CD at 5.12% APY for deposits of $100,000 or more.
• Featured credit unions are accessible nationwide, easy to join, and federally insured, providing secure alternatives to traditional banks.
• The Federal Reserve's next interest rate decision is six weeks away, with uncertainty about further hikes affecting future CD rates.

To maximize your earnings, consider these top CD rates from our trusted partners, followed by detailed insights on the best CDs available across the U.S.

For those seeking long-term stability with attractive yields, the 3-year CD at 5.13% APY and the jumbo 4-year CD at 5.12% APY are excellent choices.

CD Shopper Advice

If you hesitate to join a credit union due to perceived complexity, reconsider. The credit unions featured here welcome members nationwide with straightforward sign-up processes, often requiring only a modest or no donation to affiliated nonprofits. Opening an account is as simple as with any bank.

Important Reminder

While jumbo CDs sometimes offer higher returns, this isn't guaranteed. Some jumbo rates may be lower than standard CDs, so compare all available options carefully before committing.

Will CD Rates Rise Further in 2024?

CD rates are near historic highs, influenced by the Federal Reserve's recent 0.25% increase in the federal funds rate on July 26, which remains effective until at least September 20. This rate directly impacts the interest banks and credit unions offer.

Since March 2022, the Fed has implemented 11 rate hikes totaling 5.25%, the highest level since 2001, creating favorable conditions for savers.

The Fed's July statement emphasized its commitment to reducing inflation to 2%, without clear guidance on further rate hikes this year.

Federal Reserve Chairman Jerome Powell noted that future decisions will depend on incoming data, with both rate hikes and pauses possible at the September meeting.

Recent comments from Fed governors reflect a cautious approach, balancing data monitoring with the potential for either maintaining or increasing rates.

While the July hike might slightly boost CD rates, many institutions have already adjusted rates in anticipation, making further increases uncertain.

When the Fed signals an end to rate hikes, it will likely mark the peak for CD rates.

Current Best Rates for May 2025:

• Top CD Rates: Up to 4.50% APY
• High-Yield Savings Accounts: Two offers at 5.00% APY
• Money Market Accounts: Up to 4.40% APY

Note on Rates

The "top rates" listed are the highest nationally available, identified through daily research of hundreds of banks and credit unions. These differ significantly from national averages, which include many low-yield offerings. Savvy shoppers can find rates 5 to 15 times higher than averages by comparing options.

Rate Collection Methodology

Investopedia tracks rates from over 200 federally insured banks and credit unions daily, ranking top CDs by term. Eligible institutions must offer CDs with minimum deposits under $25,000 and operate in at least 40 states. Credit unions requiring donations over $40 for membership are excluded. For full details, see our methodology.

Explore useful articles in Personal Finance News as of 14-08-2023. The article titled " Top CD Rates in 2025: Best Deals at 5.75% APY with a Single 9-Month Option " offers in-depth analysis and practical advice in the Personal Finance News field. Each article is carefully crafted by experts to provide maximum value to readers.

The " Top CD Rates in 2025: Best Deals at 5.75% APY with a Single 9-Month Option " article expands your knowledge in Personal Finance News, keeps you informed about the latest developments, and helps you make well-informed decisions. Each article is based on unique content, ensuring originality and quality.