The top nationally available rates for shorter-term certificates of deposit (CDs) saw some modest improvement today. The best nationwide rate among 1-year certificates bumped a tenth of a point higher, to 5.35%, while the top 3-month and 6-month rates edged up one basis point, both to 5.01%.
Across all nationally available CDs spanning terms of 3 months to 10 years, the top nationwide rate continues to be 5.50% APY—the same leading rate we've seen 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.
Looking specifically at banks and excluding credit unions, the top nationally available rate among bank certificates is the new 1-year rate leader of 5.35%, offered by Sun Canyon Bank for a $5,000 minimum deposit.
A few rate increases were also found among jumbo CDs. With a $50,000 minimum deposit, you could already earn 5.25% with a 12-17 month certificate from Finworth. But now you can earn that same rate on $100,000 minimum with a 9-month CD from KS State Bank or a 36-month CD from Quorum Federal Credit Union. As you can see, however, you may be better served opening a non-jumbo certificate, as there are options in different term lengths (including 12-month and 36-month) paying better than 5.25%.
The Federal Reserve begins its next rate-setting meeting Tuesday, and will announce a rate decision Wednesday afternoon. Though it was widely expected as little as 10 days ago that the Fed would raise interest rates 0.50 percentage points to continue its fight against inflation, the high-profile bank failures in the news have impacted that guidance. As of this afternoon, 78% of market watchers predict a Fed hike of just 25 basis points, with the remaining 22% betting there will be no increase at all.
|CD Term||Yesterday's Top National Rate||Today's Top National Rate||Day's Change (percentage points)||Week's Change (percentage points)|
|3 months||5.00% APY||5.01% APY||+ 0.01||+ 0.16|
|6 months||5.00% APY||5.01% APY||+ 0.01||+ 0.01|
|1 year||5.25% APY||5.35% APY||+ 0.10||+ 0.10|
|18 months||5.25% APY||5.25% APY||No change||No change|
|2 years||5.50% APY||5.50% APY||No change||No change|
|3 years||5.50% APY||5.50% APY||No change||No change|
|4 years||5.00% APY||5.00% APY||No change||No change|
|5 years||5.00% APY||5.00% APY||No change||No change|
|10 years||4.30% APY||4.30% APY||No change||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||5.01% APY||5.00% APY||3.91% APY|
|6 months||5.01% APY||5.00% APY||5.25% APY|
|1 year||5.35% 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||5.25% 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.
Correction - March 28, 2023: This article has been corrected to state the highest APY available for a jumbo 3-month CD was 3.91% at the time of publication.
CME Group. CME FedWatch Tool.