Key Takeaways
- The top nationally available CD rate is currently at 5.55% APY from Newtek Bank for a 6-month certificate.
- Other CDs offer competitive rates ranging from 5.50% to at least 5.35% for various terms.
- Jumbo CD rates have seen decreases across different term lengths.
- CD rates have been gradually declining but may drop further after potential rate cuts by the Federal Reserve.
- While rate cuts are anticipated, the timing depends on economic indicators and Fed decisions.
Here, you’ll find top rates available from our partners and insights from our ranking of the best nationwide CDs.
You Can Still Earn 5.55% APY for 6 Months
Newtek Bank continues to offer the highest rate at 5.55% APY for a 6-month CD with a $2,500 minimum deposit. Other competitive rates range from 5.50% to 5.00% for various terms.
Earn up to 5.40% APY for a 1-year term or secure rates for 2 to 3 years with attractive APYs.
CD Terms
CD rates have softened from their peak but still offer attractive long-term earning opportunities.
While rates have slightly decreased, locking in a favorable rate now can hedge against potential future drops.
Today’s Top Bank, Credit Union, and Jumbo CD Rates
Jumbo CD rates have varied across different terms, with competitive rates available for various deposit amounts.
Consider traditional CDs as they may offer comparable or better rates than jumbo CDs for most terms.
Where Are CD Rates Headed in 2024?
CD rates are expected to decrease further, influenced by Federal Reserve decisions.
The Fed’s recent stance and economic indicators provide insights into potential rate cuts ahead.
Market predictions and economic data suggest a possible decrease in rates, impacting CD yields.
Despite favorable economic indicators, rate cuts are still anticipated, potentially affecting future CD returns.
Inflation and Fed projections may lead to multiple rate reductions in the coming year.
Anticipated Fed rate cuts could accelerate declines in CD rates, emphasizing the importance of timely decisions.
Stay updated on Fed decisions as potential rate cuts could impact CD rates.
How We Find the Best CD Rates
Investopedia tracks daily rate data from over 200 federally insured banks and credit unions to determine top-paying CDs.
Transparency is key as we consider various criteria to identify the most competitive CD rates available.