Top CD Rates Today, April 12

See how today's top nationwide rate is trending for every CD term

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After a slight slip yesterday, the menu of nationwide CD options paying 5% or more improved today. Newtek Bank returned its 3-month certificate rate to 5.00% APY, boosting the lead in that term from 4.75% APY. Paired with yesterday's unveiling of a 5.00% APY in the 5-year term by CBC Federal Credit Union, CD shoppers can now score 5% or better in almost every term from 3 months to 5 years. The lone exception is the 4-year term, where the leading rate is a nearly-there 4.95% APY.

The reigning rate leader across all nationally available CDs continues to be Hyperion Bank, which began offering 5.50% APY on a promotional 19-month certificate early this week. There are also 12 other short-term and mid-term certificates returning an annual percentage yield (APY) of 5.25% or more.

Many of the top CD rates now beat the 5% March inflation rate, according to the Consumer Price Index (CPI) figure released today. This is a rare occurrence, at least in recent years. No one knows what the April inflation figure will be, but this may be a good time to lock in an inflation-busting CD rate.

Key Takeaways

  • A rate of 5.00% APY or better is now available in every CD term from 3 months to 5 years, with the exception of a 4-year top rate of 4.95% APY.
  • The most you can earn on any nationwide CD is holding at 5.50% APY for 19 months.
  • Across CD terms, a dozen options pay at least 5.25% APY.
  • Top returns for jumbo CDs showed no change today.
CD Term  Yesterday's Top National Rate  Today's Top National Rate Day's Change (percentage points)
3 months 4.75% APY 5.00% APY + 0.25
6 months  5.25% APY 5.25% APY No change
1 year  5.25% APY  5.25% APY No change
18 months 5.50% APY 5.50% APY No change
2 years  5.35% APY 5.35% APY No change
3 years  5.35% APY  5.35% APY No change
4 years 4.95% APY 4.95% APY No change
5 years  5.00% APY  5.00% APY No change
10 years 4.30% APY 4.30% APY No change
To view the top 15–20 nationwide rates in any term, click on the desired term length in the table above.

For those wanting to lock in a winning rate for longer than Hyperion Bank's leading rate of 5.50% APY on a 19-month CD, two contenders are paying 5.35% APY on slightly longer terms. Langley Federal Credit Union is offering that rate on 22 months and Credit Human will let you choose any term from 24 to 35 months for that rate. Both nationally available credit unions are free and easy to join.

 CD Term Today's Top National Bank Rate Today's Top National Credit Union Rate Today's Top National Jumbo Rate
3 months  5.00% APY 4.50% APY  3.91% APY 
6 months  5.25% APY 5.01% APY  5.25% APY 
1 year  5.25% APY  5.15% APY 5.15% APY 
18 months  5.50% APY  5.25% APY  5.25% APY 
2 years  5.28% APY  5.35% APY  5.04% APY 
3 years  4.60% APY  5.35% APY  4.99% APY 
4 years  4.55% APY  4.95% APY  4.89% APY 
5 years  4.50% APY  5.00% APY  4.84% APY 
10 years 4.10% APY 4.30% APY None
To view our lists of the top-paying CDs across terms for bank, credit union, and jumbo certificates, click on the column headers above.

The most you can earn on any jumbo certificate remains 5.25% APY, available in the 6-month and 18-month terms. But anytime you have $100,000 or more to invest in a CD, it's smart to compare rates across all CD types, since you can often earn more with a standard CD than with the best jumbo certificates.

Will CD Rates Rise or Fall?

CD rates climbed in 2022 as a result of the Federal Reserve raising the federal funds rate to combat inflation. The Fed's actions this year have pushed rates to heights not seen in years. The Fed has already raised the fed funds rate twice this year, both times by 0.25%. While still an increase, the hikes were lower than last year when inflation was higher than it is now.

Below you can see how CD rates have trended over the last few weeks. The points on the graph indicate the highest CD rate offered for that term as of Monday of that week.

Today's report on the Consumer Price Index (CPI) for March showed that inflation has cooled somewhat, reading 5% for March, down from 6% in February. This seems to indicate that the Fed's rate hikes are taking hold, and will certainly inform its decision on whether to raise rates further, and by how much.

The Fed's next meeting will conclude May 3, and about two-thirds of market forecasters currently predict the Fed will raise rates a quarter point that day, with the remaining third forecasting a rate hold.

As for the rest of 2023, the current expectation is that rates will plateau at or slightly above the current level, and could even start to be lowered before the year ends. That, in addition to the March inflation number, mean that now appears to be a good time to lock in an attractive CD rate you can enjoy for months or years to come.

Note that the "top rates" quoted here are the highest nationally available rates Investopedia has identified in its daily rate research on hundreds of banks and credit unions. This is much different than the national average, which includes all banks offering a CD with that term, including many large banks that pay a pittance in interest. Thus, the national averages are always quite low, while the top rates you can unearth by shopping around are often five, 10, or even 15 times higher.

Rate Collection Methodology Disclosure

Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs to customers nationwide and determines daily rankings of the top-paying certificates in every major term. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), and the CD's minimum initial deposit must not exceed $25,000.

Banks must be available in at least 40 states. And while some credit unions require you to donate to a specific charity or association to become a member if you don't meet other eligibility criteria (e.g., you don't live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, read our full methodology.

Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. Federal Reserve. "Open Market Operations."

  2. U.S. Bureau of Labor Statistics. CPI Home.

  3. CME Group. CME FedWatch Tool.