Key Takeaways:
- The national CD rate leader is still Newtek Bank, offering 5.55% APY for a 6-month certificate.
- Several other CDs provide competitive rates, with 5.50% APY for 6 months and options offering at least 5.35% APY.
- Credit Human leads in the 5-year CD category at 4.70% APY for a 36 to 59-month term.
- CD rates have seen a slight decline recently but may drop further following potential Federal Reserve rate cuts.
- Expectations suggest multiple rate cuts in the coming year, although not immediately imminent.
Below, discover the featured rates from our partners, alongside insights on the best nationwide CD options available.
You Can Still Earn 5.55% APY for 6 Months
Newtek Bank continues to offer the best nationally available 6-month CD, boasting a 5.55% APY with a $2,500 minimum deposit.
Other competitive options with rates of at least 5.50% have terms between 5 to 7 months, with varying deposit requirements.
Credit Human maintains its leading position with a 4.70% APY on 5-year CDs for terms of 36 to 59 months.
Explore rates reaching up to 5.40% APY for a 1-year term, ensuring a secure rate through 2025 from different financial institutions.
Today’s Top Bank, Credit Union, and Jumbo CD Rates
Hughes Federal Credit Union offers an impressive 5.65% APY for a 17-month jumbo CD, requiring a minimum deposit of $99,000.
Note that jumbo CD rates might not always surpass standard certificates, emphasizing the importance of exploring both options thoroughly before deciding.
Where Are CD Rates Headed in 2024?
Anticipate further declines in CD rates this year, heavily influenced by Federal Reserve decisions.
Recent data and statements hint at a cautious approach to rate adjustments due to economic indicators and inflation levels.
Market predictions suggest multiple rate cuts in 2024, impacting CD rates accordingly.
For more detailed insights and comparisons, check out Investopedia’s daily rate research on the top CD rates available nationwide. Remember to consider all options carefully based on current and predicted market conditions.
How We Find the Best CD Rates
Investopedia tracks rate data from over 200 federally insured banks and credit unions to determine rankings based on minimum deposit requirements and nationwide availability.
Institutions must meet specific criteria for inclusion, ensuring transparency and accuracy in our selection process.