It's steady as she goes in CD rate news today. The top rates on all certificates of deposit terms remain unchanged from yesterday. The best annual percentage yield (APY) you can get on any CD today is still 5.50%, which you'll find at only one nationally-available financial institution.
CD rates have risen dramatically throughout 2022 and 2023, but they may not grow as fast going forward if the Federal Reserve pumps the brakes on rate increases as some analysts predict.
- The top rate for any CD today is 5.50% APY, which you can get on a 2-year term.
- Among bank-offered CDs, the most you can earn is 5.25%.
- Leading rates for jumbo CDs continue to maintain, topping out at 5.25% on multiple terms.
The most you can earn on any term is 5.50% APY, and it's been that way since March 3. That's available from Credit Human, a nationwide credit union, on any term length between 24 and 35 months.
Most of the top CD rates are offered by credit unions. We only include credit unions in our analysis that allow anyone to join, though that usually involves joining a nonprofit organization for a small fee. If you prefer to stick with banks, take a look at the MYSB Direct 1-year CD or the 9-month CD from Brilliant Bank. Both pay 5.25% APY.
The top jumbo rate is still 5.25%, which you can get on 6-month, 1-year, 18-month, and 3-year terms.
|CD Term||Yesterday's Top National Rate||Today's Top National Rate||Day's Change (percentage points)|
|3 months||4.75% APY||4.75% APY||No change|
|6 months||5.25% APY||5.25% 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||4.75% APY||4.50% APY||3.91% APY|
|6 months||5.25% APY||5.25% APY||5.25% APY|
|1 year||5.25% APY||5.05% APY||5.25% APY|
|18 months||5.10% APY||5.25% APY||5.25% APY|
|2 years||5.13% APY||5.50% APY||4.70% APY|
|3 years||4.60% APY||5.50% APY||5.25% APY|
|4 years||4.55% APY||5.00% APY||4.85% APY|
|5 years||4.50% APY||5.00% APY||5.05% APY|
|10 years||4.10% APY||4.30% APY||None|
Will CD Rates Continue to Go Up?
CD rates took off in 2022 when the Federal Reserve began to raise interest rates to fight inflation, and they've continued to go up with Fed actions this year. The Fed has implemented two rate increases in 2023, both 0.25%, which were a departure from its larger rate hikes last year when inflation was even higher.
Its March 22 rate announcement came amid news about bank failures. Although inflation is still much higher than the Fed's 2% target, there is speculation that the instability of the banking sector could cause the Fed to slow pedal or even pause its rate hikes going forward. That could mean CD rates also settle into a more stable pattern.
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.
Credit Human. "Share Certificates."
Federal Reserve. "Open Market Operations."
Morgan Stanley. "Why Investors Should Brace for ‘Stagflation’."