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Top CD Rates Today: 15 Choices Offer Historic Returns of 5.75% to 6.50%

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The sun continues to shine for CD shoppers. Not only is the nation-leading rate of 6.50% APY still available, along with the runner-up rate of 6.00% APY—but a new contender has entered the inner circle of CDs offering 5.75% APY or more, bringing the number in that high-paying club to 15.

Joining the elite 5.75% group today is Seattle Bank, which is offering 5.80% APY on an 18-month CD. That also makes it the longest duration CD paying at least 5.75% APY. Meanwhile, Financial Partners Credit Union still tops our daily ranking with its historically high 6.50% APY on an 8-month certificate for deposits up to $5,000. And Credit Human’s choose-your-term 12-17 month CD continues to offer 6.00% APY.

Key Takeaways

The leader in our daily ranking of the best nationwide CDs is holding firm at 6.50% APY, available on an 8-month term but with a maximum deposit of $5,000.
For deposits above $5,000, you can earn a top rate of 6.00% APY on any term you like between 12 and 17 months.
A total of 15 CDs now pay 5.75% or better, up from nine at the start of October.
Shoppers in five states can earn 6.25% APY with a top regional CD.
The Fed is widely expected to hold interest rates steady on Nov. 1, but another rate hike remains possible in December or January.

Below you’ll find featured rates available from our partners, followed by details from our complete ranking of the best CDs available nationwide.

Looking to lock in a great rate for a longer term? The top 2-year CD is paying 5.60% APY, a rate increase that was unveiled last week. If that’s still not long enough, you can secure 5.32% APY for 30 months down the road, or 5.25% APY for 36 or 40 months. All three of those can be found in our daily ranking of the best 3-year CDs.

If you have the option to make a jumbo deposit of at least $100,000, you can boost your 2-year rate to 5.63% APY or your 30-month rate to 5.47% APY.

Note

When asked where they would put an unexpected $10,000 windfall, almost 1 in 5 recently surveyed Investopedia readers said they would choose a CD. Selected by 18% of readers, CDs were the most popular response, outpacing stocks, money market funds, and index funds.

CD Terms
Yesterday’s Top National Rate
Today’s Top National Rate
Day’s Change (percentage points)
Top Rate Provider
3 months
5.66% APY
5.66% APY
No change
TotalDirectBank
6 months
6.50% APY
6.50% APY
No change
Financial Partners Credit Union
1 year
6.00% APY
6.00% APY
No change
Credit Human
18 months
6.00% APY
6.00% APY
No change
Credit Human
2 years
5.60% APY
5.60% APY
No change
Newtek Bank
3 years
5.32% APY
5.32% APY
No change
Luana Savings Bank
4 years
5.13% APY
5.13% APY
No change
Wellby Financial
5 years
5.00% APY
5.00% APY
No change
Farmers Insurance Federal Credit Union
To view the top 15–20 nationwide rates in any term, click on the desired term length in the left column above.

Nationwide CDs aren’t your only option. Leading rates are sometimes offered by banks and credit unions that serve select regions. While sometimes these territories are small, one particularly competitive CD—paying 6.25% APY—is available to anyone living in one of five lucky states.

CD Term
Today’s Top National Bank Rate
Today’s Top National Credit Union Rate
Today’s Top National Jumbo Rate
3 months
5.66% APY*
5.65% APY
5.20% APY
6 months
5.76% APY*
6.50% APY
5.67% APY
1 year
5.67% APY
6.00% APY*
5.85% APY
18 months
5.80% APY
6.00% APY*
5.75% APY
2 years
5.60% APY
5.50% APY
5.63% APY*
3 years
5.32% APY
5.25% APY
5.47% APY*
4 years
4.90% APY
5.13% APY*
4.86% APY
5 years
4.85% APY
5.00% APY*
4.92% APY
*Indicates the highest APY offered in each term. To view our lists of the top-paying CDs across terms for bank, credit union, and jumbo certificates, click on the column headers above.

Note that jumbo CDs don’t always pay a higher return than standard certificates. Sometimes you can do just as well—or better—with a standard CD. That’s currently the case in six of the eight terms above, so it’s smart to shop both certificate types before making a final decision.

How High Will CD Rates Go This Year?

The Federal Reserve has been aggressively combating decades-high inflation since March of last year, raising the federal funds rate with fast and furious hikes in 2022 and then more moderate increases in 2023. With its most recent hike on July 26, the Fed has implemented 11 increases in 13 meetings, for a cumulative increase of 5.25%. This has created favorable rate conditions for CD shoppers, as well as for anyone holding cash in a high-yield savings or money market account.

The Fed’s next two-day meeting will conclude Nov. 1, and financial markets overwhelmingly expect the Fed to hold rates steady again. One possibility is that that this hold will turn out to be permanent, as several Fed members have signaled in recent weeks that they feel the committee’s rate-hike campaign has reached its end, with another Fed member echoing that sentiment Monday.

But in comments made yesterday, Fed Chairman Jerome Powell reiterated the central bank’s commitment to bringing inflation back down to its target of 2%, signaling that the door is still open to a future rate increase. Powell said that current inflation at 3.5% is still too high and that the committee would therefore be taking a cautious approach, carefully monitoring new economic data as it becomes available.

As a result, the CME Group’s FedWatch Tool shows that markets are currently pricing in roughly 30% odds that one more hike will be announced at the Fed’s December or January meeting.

As we always caution, predicting Fed rate moves several weeks or months down the road is an imperfect exercise, since the economic landscape can change quickly and potentially alter the Fed’s course. So while rates may seem to be stabilizing right now, only time will tell whether a future rate hike is still on the horizon. And that, in turn, will determine whether CD rates have reached their peak or may still inch a bit higher.

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.

Investopedia / Alice Morgan

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.

CME Group, “CME FedWatch Tool.”

Federal Reserve. “Opening Remarks by Chair Jerome H. Powell At the Economic Club of New York Luncheon, New York, New York.”

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