Top CD Rates Today: Secure a 6% APY for 12-17 Months or 5.80% for 18 Months

In today's high-interest-rate environment, locking in a certificate of deposit (CD) with a top rate for the full term is a smart financial move. Currently, you can secure a 6.00% APY for terms between 12 and 17 months or a 5.80% APY for an 18-month term, both offering excellent returns guaranteed through mid-2025.

Leading the pack nationally is Credit Human, offering a competitive 6.00% APY on flexible terms ranging from 12 to 17 months. Seattle Bank follows closely with an 18-month CD yielding 5.80% APY, providing a solid option for those seeking a slightly longer commitment.

Key Highlights

• Credit Human offers the highest nationwide CD rate at 6.00% APY for 12-17 month terms.
• Currently, 14 CDs provide rates of 5.75% APY or higher, a notable increase from earlier months.
• Residents in five states can access a premium regional CD paying 6.25% APY.
• The Federal Reserve is expected to maintain current interest rates soon, though a hike remains possible later this year or early next year.

Below, discover featured CD rates from our trusted partners and a comprehensive list of the best nationwide CDs available today.

For those interested in longer-term options, the top 2-year CD offers 5.60% APY. Looking further ahead, 30-month CDs yield 5.37% APY, while 36- and 40-month CDs provide 5.25% APY, all featured in our daily 3-year CD rankings.

If you can make a jumbo deposit of $100,000 or more, you may boost your returns to 5.68% APY on a 2-year CD or 5.52% APY on a 30-month CD.

Investor Insight

When asked where they would invest an unexpected $10,000 windfall, nearly 20% of recent Investopedia readers favored CDs, making them the most popular choice over stocks, money market funds, and index funds.

Pro Tip

While nationwide CDs offer strong rates, regional banks and credit unions sometimes provide even better yields. For example, a select CD paying 6.25% APY is available to residents in five specific states, highlighting the value of exploring localized options.

Important Consideration

Jumbo CDs do not always guarantee higher returns than standard CDs. In fact, for six out of eight terms reviewed, standard CDs currently offer equal or better rates. It's wise to compare both types before deciding.

What’s Next for CD Rates?

The Federal Reserve has aggressively raised interest rates since early 2022 to tackle inflation, resulting in favorable conditions for CD investors. With 11 rate hikes totaling 5.25%, high-yield savings accounts, money markets, and CDs have all benefited.

The Fed’s upcoming meeting on November 1 is widely expected to keep rates steady, though future increases remain possible. Fed Chair Jerome Powell emphasized the commitment to reducing inflation to 2%, suggesting cautious monitoring of economic data and leaving the door open for further hikes.

Market tools currently indicate a 25-35% chance of a rate increase in December or January, but economic conditions can change rapidly, impacting Fed decisions and CD rate trajectories.

Stay informed and shop around to lock in the best CD rates, as the peak may still be ahead or already reached.

Additional Top Offers

• Best CD Rates for May 2025: Up to 4.50% APY
• Best High-Yield Savings Accounts for May 2025: Two offers at 5.00% APY
• Best Money Market Accounts for May 2025: Up to 4.40% APY

Note on Rates

The "top rates" mentioned represent the highest nationally available yields identified through daily research of hundreds of banks and credit unions. These differ significantly from national averages, which are lowered by large banks offering minimal interest. Savvy shoppers can find rates five to fifteen times higher than averages by comparing options.

Our Rate Collection Process

Investopedia updates CD rate data daily from over 200 federally insured banks and credit unions available nationwide. To qualify, institutions must be FDIC or NCUA insured, offer CDs with minimum deposits of $25,000 or less, and be accessible in at least 40 states. Credit unions requiring donations of $40 or more for membership are excluded to ensure broad accessibility.

Correction (Nov. 15, 2023): This article was updated to remove a CD that became geographically restricted after initially being nationwide, and to confirm the nationwide top CD rate as 6.00% APY as of October 24.

Discover engaging topics and analytical content in Personal Finance News as of 29-10-2023. The article titled " Top CD Rates Today: Secure a 6% APY for 12-17 Months or 5.80% for 18 Months " provides new insights and practical guidance in the Personal Finance News field. Each topic is meticulously analyzed to deliver actionable information to readers.

The topic " Top CD Rates Today: Secure a 6% APY for 12-17 Months or 5.80% for 18 Months " helps you make smarter decisions within the Personal Finance News category. All topics on our website are unique and offer valuable content for our audience.