Top CD Rates Today, March 16

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

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There were a few changes to the top nationally available rates across certificate of deposit (CD) terms today. The top rate on any term from 3 months to 10 years remains 5.50% APY, available from Credit Human, a nationwide credit union, for certificate durations of 24-35 months with a minimum deposit of $500.

But the 3-month term showed a rate improvement, with an increase in the top rate from 4.85% to 5.00%. You can get that from Teachers Federal Credit Union with a $1,000 minimum deposit. Top rates for the rest of the standard CDs stayed the same as yesterday.

The best-paying CD from a nationwide bank continues to be Forbright Bank's 5.25% APY, for terms of 12-17 months with a $1,000 minimum deposit.

Jumbo CDs showed some gains today, with the top 6-month rate climbing from 4.49% to 4.90% and the best 1-year jumbo rate rising from 5.05% to 5.25%. With these improvements, jumbo CDs in these terms are more competitive with standard CD rates, though in the other terms, savers are still well served by shopping all sizes of CDs to find the best rates.

The Federal Reserve meets next week (March 21-22), and though expectations a week ago were that it would raise the federal funds rate another 0.25 to 0.50 percentage points to continue its flight against inflation, the recent high-profile bank failures have almost certainly impacted that course of action. As of this afternoon, approximately 80 percent of market watchers were predicting a Fed hike of just 25 basis points, while the other 20 percent expect no increase at all from the coming meeting.

CD Term  Yesterday's Top National Rate Today's Top National Rate  Day's Change (percentage points)
3 months 4.85% APY 5.00% APY + 0.15
6 months  5.00% APY 5.00% APY No change
1 year  5.25% APY  5.25% APY  No change
18 months 5.25% APY 5.25% APY No change
2 years  5.50% APY 5.50% APY No change
3 years  5.50% APY 5.50% APY  No change
4 years 5.00% APY 5.00% 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.
 CD Term Today's Top National Bank Rate  Today's Top National Credit Union Rate Today's Top National Jumbo Rate
3 months  4.75% APY 5.00% APY  3.80% APY 
6 months  5.00% APY 5.00% APY  4.90% APY 
1 year  5.25% APY  5.05% APY 5.25% APY 
18 months  5.00% APY  5.25% APY  5.25% APY 
2 years  4.75% APY  5.50% APY  4.70% APY 
3 years  4.60% APY  5.50% APY  4.80% APY 
4 years  4.65% APY  5.00% APY  4.85% APY 
5 years  4.70% APY  5.00% APY  5.05% 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.

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 5, 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
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  1. CME Group. CME FedWatch Tool.