Top CD Rates Today, May 15

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

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After a number of increases last week, the top CD rates held firm at their elevated levels today. The market-leading rate of 5.50% APY continues to be available on certificates of 9 months, 15 months, and 17 months, while you can earn at least 5.25% APY on an additional dozen options in our daily rankings of the nation's best CDs.

The longest duration for which you can score a rate of at least 5.00% APY is 24 months.

Key Takeaways

  • You can earn 5.25% APY or better with 15 options in our daily ranking of the best CDs, up from eight one week ago.
  • The highest available return on any nationally available CD continues to be 5.50% APY, offered for terms of 9, 15, and 17 months.
  • A 5.00% or better yield can be had in every CD term from 3 months to 2 years, with the best 2-year rate holding at 5.25% APY.
  • With the Federal Reserve expected to end its rate hikes soon, CD returns could be approaching their peak—making now a great time to lock in on one of today's great rates.
CD Term  Yesterday's Top National Rate  Today's Top National Rate Day's Change (percentage points)
3 months 5.01% APY 5.01% APY No change
6 months  5.50% APY 5.50% 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  5.25% APY 5.25% APY No change
3 years  4.85% APY  4.85% APY No change
4 years 4.73% APY 4.73% APY No change
5 years  4.68% APY  4.68% APY No change
To view the top 15–20 nationwide rates in any term, click on the desired term length in the left column above.
 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 4.75% APY  4.35% APY 
6 months  5.11% APY 5.50% APY  5.25% APY 
1 year  5.25% APY  5.25% APY 5.25% APY 
18 months  5.50% APY  5.50% APY  5.27% APY 
2 years  5.00% APY  5.25% APY  5.04% APY 
3 years  4.76% APY  4.85% APY  4.99% APY 
4 years  4.54% APY  4.73% APY  4.89% APY 
5 years  4.52% APY  4.68% APY  4.84% APY 
To view our lists of the top-paying CDs across terms for bank, credit union, and jumbo certificates, click on the column headers above.

Despite the suggestion that a larger deposit should earn you a higher return, rates on jumbo certificates often don't pay as well as standard CDs. Currently, the best jumbo offers, which typically require a deposit of $100,000 or more, only beat the best standard rates in three of the eight major CD terms. So remember to shop every CD type before making your choice.

Where Are CD Rates Headed This Year?

Rates on certificates of deposit generally mirror the trend of the federal funds rate, and the quarter-point increase by the Federal Reserve on May 3 nudged CD rates slightly higher last week. Though deposit rates surged in 2022 as a result of the Fed's aggressive federal funds rate hikes aimed at taming decades-high inflation, this year's Fed increases have been more subdued, which has considerably slowed the growth in CD rates.

The Fed's latest announcement included a notable change in language from prior announcements, indicating that the Fed may pause its hikes at its June 13-14 meeting. This, plus other economic factors, have futures traders currently betting 3-to-1 that last week's increase will be the Fed's last hike of its campaign, while a minority feel we could see yet another rate hike.

Atlanta Fed president Raphael Bostic said today that he doesn't see rates declining this year. Nevertheless, about a quarter of Fed watchers currently predict rates could fall as early as July. The majority, however, predict the first decrease won't hit until September or later.

In any case, CD rates are at their highest levels since at least 2007, the last time we saw the federal funds rate this high. With rate decreases potentially on the near horizon, it's a smart time to lock in one of the nation-leading rates in our CD rankings, guaranteeing you an excellent rate even after the Fed ultimately hits reverse.

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. Federal Reserve. "May 3, 2023: Federal Reserve Issues FOMC Statement."

  3. CME Group. "CME FedWatch Tool."