Unlock Top CD Rates: Secure Up to 5.50% Interest Now with Extended Offers

Highlights to Know

• Nuvision Credit Union extends its top-tier 5.50% APY for an 8-month CD through December 31, offering one of the highest rates nationwide.
• Four nationwide CDs maintain a solid 5.00% APY, including a 12-month CD from Apple Federal Credit Union locking in returns until next December.
• New competitive rates introduced for 3-year, 4-year, and 5-year CDs, with Popular Direct leading the 4- and 5-year terms at 4.25% APY.
• With anticipated Federal Reserve rate cuts in late 2024 and early 2025, acting swiftly to secure current high rates is essential.

Explore our curated list of top CD rates from trusted financial institutions nationwide below.

Lock in 5.50% APY Through August or 5.00% Until Next December

Despite recent Federal Reserve rate reductions, exceptional CD rates remain accessible. Nuvision Credit Union’s 5.50% APY for an 8-month CD, previously expiring November 30, now extends through December 31. Note the $5,000 maximum deposit limit for this offer.

For those seeking larger deposits, Apple Federal Credit Union offers a 12-month CD at 5.00% APY, guaranteeing returns until December of next year, making it a strong alternative.

Multi-Year CDs Offer Stability Amid Rate Changes

For longer-term investments, XCEL Federal Credit Union provides a 15-month CD at 4.50% APY, while Dow Credit Union offers a 2-year CD at 4.30% APY. Popular Direct now matches the 3-year CD top rate of 4.25% APY and leads the 4- and 5-year terms with the same rate, securing your earnings through 2029.

Given the likelihood of further Federal Reserve rate cuts, locking in these long-term CD rates now ensures you maximize returns before rates decline.

Historically High Returns Still Available Today

Although CD rates have pulled back from their October 2023 peak above 6%, the best current rates remain impressive, with multiple CDs offering 5.00% or higher. This contrasts sharply with early 2022 rates, which hovered between 0.50% and 1.70% APY.

Jumbo CDs: Higher Deposits, Selective Rate Advantages

While jumbo CDs require larger deposits, they only outperform standard CDs in select terms. State Department Federal Credit Union offers 4.58% APY on an 18-month jumbo CD, and Quorum Federal Credit Union provides 4.35% APY on a 2-year jumbo CD, slightly above standard rates.

What’s Next for CD Rates?

The Federal Reserve has initiated a series of rate cuts, reducing the federal funds rate by 0.75 percentage points since September 2024. This marks a shift from aggressive hikes aimed at curbing inflation. Market expectations suggest further cuts in December and throughout 2025, likely leading to a gradual decrease in CD and savings account rates.

Securing a CD rate now locks in your return regardless of future declines, making this an opportune moment to invest.

Daily Updated Rankings of Best CDs and Savings Accounts

We provide daily updates on the highest-yielding deposit products, including:

• 3-Month to 5-Year CD Rates
• High-Yield Savings Accounts
• Money Market Accounts

Important Considerations

The top rates featured represent the highest nationally available APYs identified through comprehensive research, not national averages, which tend to be significantly lower due to inclusion of many low-rate institutions.

Our Methodology for Finding the Best CD Rates

We analyze rates from over 200 federally insured banks and credit unions nationwide. To qualify, institutions must have a minimum deposit requirement of no more than $25,000, with maximum deposits not below $5,000. Banks must serve at least 40 states, and credit unions with high donation requirements are excluded to ensure accessibility.

Stay informed and make confident decisions by choosing from the best CD rates tailored to your financial goals.

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