Latest Updates on National Certificate Rates
- The top nationally available rate for a 4-year certificate has increased from 4.60% to 4.80% APY through Pelican State Credit Union.
- However, the best rate for a 5-year CD has decreased from 4.70% to 4.60% APY, now offered by Credit Human.
- These rate adjustments follow the Federal Reserve’s recent decision to maintain interest rates as it monitors inflation.
- Newtek Bank leads the national CD rates with a 5.55% yield for a 6-month term.
- While CD rates have been gradually declining, the trend may accelerate when the Fed signals a rate cut.
Discover featured rates from our partners and insights from our ranking of the top CDs available nationwide.
Top Rates Update: 4-Year Rate Increases, 5-Year Rate Decreases
Today, the top yield for a 4-year CD has risen to 4.80% APY with a minimum deposit of $500 from Pelican State Credit Union, ensuring this rate until 2028.
On the other hand, the best 5-year rate has dropped to 4.60% APY, requiring only a $500 deposit at Credit Human.
Meanwhile, Newtek Bank continues to offer the highest rate with a 5.55% APY for a 6-month term.
Current Leading Bank, Credit Union, and Jumbo CD Rates
The top jumbo CD rate stands at 5.65% APY for a 17-month term from Hughes Federal Credit Union with a minimum deposit of $99,000.
While jumbo rates are appealing, standard certificates can offer better deals in many cases, so it’s wise to compare both options.
Predictions for CD Rates in 2024
Following the Federal Reserve’s recent decisions, CD rates are expected to gradually decrease throughout the year with potential rate cuts on the horizon.
While the current rates are attractive compared to historical averages, future decreases are anticipated as inflation stabilizes.
As the Fed eyes multiple rate cuts in 2024, it’s likely that CD rates will continue their downward trend, especially if a rate reduction becomes imminent.
To compile our rankings, we monitor over 200 federally insured banks and credit unions daily, ensuring the listed CDs have a competitive minimum deposit requirement of up to $25,000.