Today's Top CD Rates: Slight Declines in 3 Terms, But 5.75% APY Still Leads

Essential Highlights

• The highest CD rate today is 5.75% APY, offered for a 6-month term by Andrews Federal Credit Union.
• Competitive rates of 5.56% and 5.55% APY are available for 12-month CDs at Lafayette Federal Credit Union and Salem Five, and a 9-month CD at NASA Federal Credit Union.
• Top rates for 3-month, 4-year, and 5-year CDs have decreased slightly today.
• Currently, 24 standard CDs and 9 jumbo CDs nationwide offer yields of 5.50% APY or higher.
• The longest CD term offering at least 5% APY is 36 months.

Although CD rates have eased slightly from last fall's record highs—when rates peaked at 6.50% in October—the current top rates remain historically strong. Below is a detailed overview of the best CD options available across the country, along with featured partner rates.

Top CD Rates Remain Exceptionally High

Andrews Federal Credit Union continues to lead with a 5.75% APY for a 6-month CD, maintaining this position for nearly two weeks. Close behind, Lafayette Federal Credit Union offers 5.56% APY for 12 months, Salem Five provides 5.55% APY for the same term, and NASA Federal Credit Union offers 5.55% APY for 9 months.

However, today's updates saw a reduction in three term leaders. TotalDirectBank lowered its 3-month CD rate from 5.56% to 5.51% APY but remains the top provider for that term.

After holding the top spots for 4-year and 5-year CDs since early January, First Harvest Credit Union reduced its rates. Lafayette Federal Credit Union now leads the 4-year term at 4.73% APY, while Credit Human tops the 5-year term at 4.60% APY.

At January's end, 34 nationwide CDs offered rates of 5.50% APY or higher, but this number has declined to 24 due to softening rates. Additionally, nine jumbo CDs maintain yields above 5.50% APY.

If you prefer locking in a high rate for a longer period, XCEL Federal Credit Union offers an 18-month CD at 5.45% APY. For even longer commitments, the best 2-year CD pays 5.27% APY, and the top 3-year CD yields 5.10% APY.

Securing these attractive rates now is wise before potential Federal Reserve rate cuts, which typically lead to lower CD yields. The Fed’s December 13 projections anticipate up to three rate reductions totaling 0.75% during 2024.

Although longer-term CDs currently offer lower yields than short-term options, locking in these rates ensures steady returns until 2026 or beyond, even as high-yield savings and new CD rates likely decline.

Leading Bank, Credit Union, and Jumbo CD Rates

The highest jumbo CD rate remains 5.65% APY for a 17-month term at Hughes Federal Credit Union. Note that jumbo CDs don’t always offer higher yields than standard CDs—currently, some standard CDs outperform jumbo options in certain terms. Comparing both types before committing is advisable.

Forecast for CD Rates in 2024

The Federal Reserve has paused rate hikes for four consecutive meetings, following aggressive increases between March 2022 and July 2023 that raised the federal funds rate to a 22-year high to combat inflation.

This environment created exceptional opportunities for CD investors and holders of high-yield savings and money market accounts, with CD rates peaking this fall at two-decade highs.

With inflation easing and the Fed maintaining rates since July, many banks and credit unions have begun lowering CD rates—a trend expected to continue following the Fed’s recent announcement signaling an end to rate hikes.

The Fed is now focused on timing its first rate cut, but Chair Jerome Powell emphasized that inflation remains too high to warrant cuts until sustained progress is confirmed.

Last week’s stronger-than-expected jobs and wage growth reports may delay rate cuts, as noted by economists like Scott Anderson of BMO Capital Markets, who cautioned against premature expectations of rate reductions.

The Fed’s next decision is scheduled for March 20. Chair Powell indicated that confidence in inflation trends sufficient for rate cuts is unlikely by then, maintaining a cautious outlook that has influenced Treasury yields and interest rates.

Consequently, CD rates are expected to decline gradually, with sharper decreases likely only once a rate cut becomes imminent.

Best High-Yield Savings Accounts for May 2025: 2 Offers of 5.00%
Best CD Rates for May 2025: Up to 4.50%
Best Money Market Accounts for May 2025: Up to 4.40%

Note on Rate Data

The "top rates" featured here represent the highest nationally available yields identified through Investopedia’s daily research across hundreds of banks and credit unions. These differ significantly from national averages, which include all institutions, many offering minimal interest. Consequently, top rates found by shopping around can be 5 to 15 times higher than average rates.

Our Methodology for Identifying the Best CD Rates

Investopedia tracks rate data from over 200 federally insured banks and credit unions daily, ranking the highest-paying CDs across major terms. Eligible institutions must be FDIC- or NCUA-insured, with a maximum initial deposit of $25,000 for inclusion.

Banks must operate in at least 40 states. Credit unions requiring donations of $40 or more for membership are excluded. For full details, see our comprehensive methodology.

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