With the next Federal Reserve rate decision five days away, the top nationally available rates for certificates of deposit (CDs) showed the gentlest of stirrings today. For certificates ranging from 3 months to 10 years, the top nationwide rate remains 5.50% APY—the same rate it's been since March 3. Offered by Credit Human, a nationwide credit union, that rate is available on terms of 24-35 months with a minimum deposit of $500.
But the top rate you can earn specifically from nationwide banks (i.e., excluding credit unions) did increase slightly in two terms. The highest-paying 3-month bank CD is now 4.76% from TotalDirectBank with a $25,000 minimum deposit, instead of yesterday's top bank rate of 4.75%.
And in the 18-month term, you can now earn 5.25% from Forbright Bank on a duration of 12-17 months with a $1,000 minimum deposit. Yesterday's top bank rate for an 18-month CD was 5.00%.
Rates on jumbo CDs, meanwhile, marked time, with today's best jumbo return remaining 5.25%, which you can earn from Finworth on either a 12-month or 18-month certificate. Both require a $50,000 minimum deposit.
The next meeting of the Fed's rate-setting committee will conclude Wednesday, and though expectations last week 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. With more bank failure news over the past two days, only about 60 percent of market watchers predict a Fed hike of 25 basis points, while 40 percent are betting we'll see no increase at all from this meeting.
|CD Term||Yesterday's Top National Rate||Today's Top National Rate||Day's Change (percentage points)|
|3 months||5.00% APY||5.00% APY||No change|
|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|
|CD Term||Today's Top National Bank Rate||Today's Top National Credit Union Rate||Today's Top National Jumbo Rate|
|3 months||4.76% 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||5.25% 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|
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.
CME Group. CME FedWatch Tool.