Key Takeaways
- The best CD rates in the country right now range from 5.40% to 6.00% APY, on terms of 3 to 12 months.
- The very tip-top rate of 6.00% is available for a 10-month term from Nuvision Credit Union, but take note: it's limited to a $5,000 maximum deposit and will expire July 31.
- TotalDirectBank offers the runner-up CD rate of 5.51% for 3 or 6 months. Seven additional CDs guarantee rates of at least 5.40% for terms of 3 to 12 months.
- If you want a longer rate lock, consider one of the best 18-month and 2-year CDs with top rates of 5.00% to 5.25% APY.
- To guarantee your rate further, you can snag returns of 4.70% to 5.00% that will be locked until 2027, 2028, or 2029.
Below you'll find featured rates available from our partners, followed by details from our ranking of the best CDs available nationwide.
Open a New Account × The offers that appear in this table are from partnerships from which we receive compensation. For more details, see our full advertiser disclosure. Institution Apy Min. To Earn Apy Highlights Open a New Account × The offers that appear in this table are from partnerships from which Dotdash receives compensation.
Just Nine Days Left To Open This 6.00% CD
While Nuvision Credit Union could extend its promotional 6.00%, 10-month CD beyond July 31, why take that risk? This is the top nationwide CD rate right now, and until last month, we hadn't seen a rate that high since November. However, Nuvision's CD only accepts a maximum deposit of $5,000, so you could end up making more with a slightly lower-paying CD that has a longer term.
The next best nationwide CD rates are on CDs with shorter terms. TotalDirectBank is paying 5.51% APY on either a 3-month or 6-month term. However, you'll need a hefty minimum deposit of $25,000.
If those CDs don't fit your situation or your timeline, consider one of the other eight CDs paying 5.40% or more, most of which will guarantee your rate until 2025.
You May Do Better With a Lower Rate That Has a Longer Guarantee
If you're able to lock up your money for longer, you could opt to stretch your rate guarantee into 2026. Top options in this category are the best 18-month CD, which is a 5.25% offer from DR Bank, and the best 2-year CD, a 5.10% certificate from USAlliance Financial.
Extending your rate lock further into the future is smart right now, since it's expected the Fed will cut interest rates one or more times later this year. Beyond that, U.S. interest rates could continue to decline over the next couple of years. So while this would push the rates on new CD offers down, any CD you've already opened will carry its guaranteed rate until the end of its term.
To secure a high CD rate into 2027, consider the best 3-year CDs, which are paying 5.00% APY. Vibrant Credit Union promises that APY for 30 months, while DollarSavingsDirect extends it a full 36 months.
To guarantee your rate even longer, the best 4-year CD pays 4.70%, or you can lock in 4.75% for 5 years. BMO Alto offers both of these CDs. Grow Financial also pays 4.75% on a 5-year CD.
| CD Terms | Friday's Top National Rate | Today's Top National Rate | Day's Change (percentage points) | Top Rate Provider |
| 3 months | 5.51% APY | 5.51% APY | No change | TotalDirectBank |
| 6 months | 5.51% APY | 5.51% APY | No change | TotalDirectBank |
| 1 year | 6.00% APY | 6.00% APY | No change | Nuvision Credit Union |
| 18 months | 5.25% APY | 5.25% APY | No change | DR Bank |
| 2 years | 5.10% APY | 5.10% APY | No change | USAlliance Financial |
| 3 years | 5.00% APY | 5.00% APY | No change | Vibrant Credit Union and DollarSavingsDirect |
| 4 years | 4.70% APY | 4.70% APY | No change | BMO Alto |
| 5 years | 4.75% APY | 4.75% APY | No change | BMO Alto and Grow Financial |
Large U.S. Bank Leads 4- and 5-Year CD Terms
The top nationwide CD rates are typically offered by smaller banks and credit unions. But right now, BMO Alto is paying the top 4-year and 5-year CD rates. BMO Alto is the online-only arm of banking giant BMO, which operates about 1,000 branches and is the 12th-largest U.S. bank by deposits.
CD Rates Are Near Their Highest Level in 20 Years
CD rates briefly touched a historic peak of 6.50% in October 2023, and they have drifted just slightly lower since then. In February of this year, 30 CDs in our daily ranking guaranteed at least 5.50% APY. Now, however, you'll find just nine.
Despite that, looking back over the past 20 years shows that today's CD rates remain exceptional. APYs above 4% still present a great investment opportunity, and it may be worth locking one in now—before the Fed cuts rates.
Note that you don't have to get the absolute highest APY to feel satisfied with your choice. If you find a CD with a term length and features you like, it may be wise to grab it now rather than perhaps regret it later if rates go down and you miss your opportunity.
Jumbo CDs Sometimes Offer a Premium Rate
If you've got a big enough deposit for a jumbo CD, you can also shop our ranking of the best jumbo CDs. But in every term but one right now, you can earn more from the best standard CD. The one term where you can score a slight rate premium with a jumbo CD is the 5-year term, where Grow Financial Federal Credit Union is paying 4.86% vs. the top standard-CD rate of 4.75% APY.
| CD Term | Today's Top National Bank Rate | Today's Top National Credit Union Rate | Today's Top National Jumbo Rate |
| 3 months | 5.51% APY* | 5.40% APY | 5.20% APY |
| 6 months | 5.51% APY* | 5.50% APY | 5.45% APY |
| 1 year | 5.40% APY | 6.00% APY* | 5.40% APY |
| 18 months | 5.25% APY* | 5.15% APY | 5.20% APY |
| 2 years | 5.00% APY | 5.10% APY* | 4.96% APY |
| 3 years | 5.00% APY* | 5.00% APY* | 4.86% APY |
| 4 years | 4.70% APY* | 4.65% APY | 4.48% APY |
| 5 years | 4.75% APY | 4.75% APY | 4.86% APY* |
Where Are CD Rates Headed in 2024?
To fight decades-high inflation, the Federal Reserve aggressively hiked the federal funds rate 11 times between March 2022 and July 2023, raising the benchmark rate to its highest level in 22 years. That's important to savers because when the fed funds rate rises, banks and credit unions increase the interest rates they're willing to pay on customer deposits.
As a result, this past fall saw historically favorable conditions for CD shoppers and anyone holding cash in ahigh-yield savingsormoney market account. Rates on CDs rose to an October-November peak that was the highest we've seen in two decades.
However, the Fed has been in a holding pattern since its last rate hike in July 2023. As was all but certain, the Federal Reserve's rate-setting committee announced on June 12 that it was once again maintaining the federal funds rate at its current level. It was the seventh meeting in a row in which the central bank has held its benchmark rate steady.
That's because inflation has been cooling, allowing the Fed to stop raising interest rates and enter a "wait-and-see" mode as it looks for the right timing for a rate cut. It's also expected the Fed will hold rates steady for one more meeting, which will conclude July 31.
But the Consumer Price Index (CPI) released on July 11 provided encouraging evidence that inflation is coming further down. Compared to May's 3.3% annualized inflation reading, June's CPI registered just 3.0%.
As a result, investors have increased their bets that a first rate cut will come in September. For the July 31 meeting, about 97% of traders still expect a rate hold. But by the Sept. 18 meeting, investor bets are currently at about 94% that the Fed will have made a rate cut of 0.25 percentage points. Beyond that, around 51% currently predict rates will come down even further by the Nov. 7 meeting.
While Fed officials will continue watching and waiting for additional data before making any decisions, it's possible this week's stronger confidence in a September rate cut could start pushing CD rates lower. So it's a good time to lock in one of today's stellar CD rates while you can.
Daily Rankings of the Best CDs and Savings Accounts
We update these rankings every business day to give you the best deposit rates available:
Best 3-Month CD Rates
Best 6-Month CD Rates
Best 1-Year CD Rates
Best 18-Month CD Rates
Best 2-Year CD Rates
Best 3-Year CD Rates
Best 4-year CD Rates
Best 5-Year CD Rates
Best High-Yield Savings Accounts
Best Money Market Accounts
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.
How We Find the Best CD Rates
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 (FDICfor banks,NCUAfor credit unions), the CD's minimum initial deposit must not exceed $25,000, and any specified maximum deposit cannot be under $5,000.
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 oureditorial policy.
FDIC. "BankFind Suite, FDIC Banks by Total Domestic Deposits."
Federal Reserve Board. "Federal Reserve Issues FOMC Statement, June 12, 2024."
Federal Reserve Board. "Open Market Operations."
CME Group. "CME FedWatch Tool."
