Key Insights on Competitive CD Rates
- Leading the nation in CD rates, Newtek Bank offers a competitive 5.55% APY for a 6-month term.
- For longer-term investments, rates of up to 5.40% for 1 to 15 months and 5.30% for 2 years are available.
- Opting for 3 to 5-year CDs can secure rates ranging from 4.70% to 5.00% APY.
- Despite expectations of Fed rate cuts, current top CD rates remain strong.
- Inflation data suggests potential delay in rate cuts by the central bank.
Discover the standout rates offered by our partners and explore our guide to the best CDs available nationwide.
Lock In 5.30% to 5.55% APY for 3 to 23 Months
Leading the pack in short-term certificates is Newtek Bank with a 5.55% rate for 6 months. Followed closely by two other institutions offering 5.50% for 5 to 7-month terms.
For mid-term options, consider rates of up to 5.40% for 1 year and 18 months from several providers. Additionally, Credit Human offers an enticing 5.30% for 12-23 month terms.
Longer Terms Will Lock Your Rate to 2027—Or Beyond
Looking for extended security? Consider a 3-year CD at 5.00% or 4 to 5-year options delivering returns in the mid-to-high 4% range, ensuring stability until 2027 or beyond.
CD Rates Are Still Near Record Highs
While CD rates have slightly dipped from their historic highs, they still offer lucrative opportunities compared to the past two decades.
Locking in rates at 4% to 5% for extended periods remains a superior earning potential.
Anticipating potential rate declines, securing a long-term CD can prove strategic in the current economic landscape.
Jumbo Deposits Can Provide More CD Options
Explore jumbo CDs for higher returns with offerings like 5.50% APY for 12 months at State Bank of Texas and 5.49% APY for 6 months at My eBanc.
However, don’t overlook standard CDs, as they may offer equally competitive rates. Compare both options before making a decision.
Where Are CD Rates Headed in 2024?
Post-inflation considerations suggest potential future rate cuts, with the Federal Reserve closely monitoring indicators for policy adjustments.
Recent economic data indicates a possible delay in rate cuts as inflation rates remain high, impacting the Fed’s decision-making process.
Federal Reserve projections hint at potential rate reductions in the coming months, although uncertainties persist.
Stay updated on the evolving CD rate landscape and make informed decisions based on current market trends.
How We Find the Best CD Rates
Our comprehensive daily tracking of over 200 financial institutions ensures we list only the top-paying CDs across various terms, providing valuable insights for savvy investors.
Our methodology emphasizes federally insured institutions with transparent deposit requirements, delivering accurate data tailored for your financial planning needs.