Unlock Higher Earnings with Current CD Rates
- Looking for high returns? Earn at least 5% for up to 3 years with CD options, ensuring a guaranteed return until 2027.
- The top CD rates are impressive, with MutualOne Bank offering 5.65% on a 3-month term and Newtek Bank providing 5.55% on a 6-month term.
- BMO Alto leads the pack with a 4.80% APY for a 5-year CD, extending the rate guarantee until 2027.
- Current CD rates are slightly below their peak but remain competitive, hinting at future Fed rate cuts despite recent inflation signs.
Below are the featured rates from our partners, along with insights from our top CD rankings nationwide.
Lock In 5.30% or More—For up to 23 Months
MutualOne Bank offers the highest CD rate at 5.65% APY for a 3-month term, ensuring returns until August.
Prefer a longer rate lock? Newtek Bank’s 6-month CD pays 5.55% APY, securing your returns until almost Thanksgiving.
Multiple CDs in our rankings offer 5.50% or better, with Credit Human providing a 5.25% option for 18 to 23 months, guaranteeing returns until spring 2026.
Long CD Terms Ensure Stable Rates Beyond 2027
Opt for a 3-year CD at 5.00% APY to secure returns until 2027. Choose longer terms for rates in the mid-to-high 4% range, securing earnings for 4 to 5 years ahead.
Jumbo CDs Offer Enhanced Rates in Select Terms
State Bank of Texas and State Department Federal Credit Union lead with jumbo CD rates exceeding standard offers.
While jumbo CDs can offer higher rates, standard CDs may offer comparable or better rates in some cases. It’s essential to research both before deciding.
Where Are CD Rates Headed in 2024?
Following a period of increased rates, CD rates have seen a slight decline, though they remain relatively high compared to the past 20 years.
Concerns of falling rates in 2024 and 2025 prompt a smart move to lock in long-term rates now before any potential decreases.
As inflation cools, the Fed is cautious about rate cuts and maintains current levels. The future remains uncertain, with potential rate cuts still on the horizon.
Stay informed on inflation data and Fed decisions as they continue to impact CD rates. The central bank’s upcoming meetings may provide clarity on future rate changes.
With current uncertainties, CD rates may plateau for some time, offering stability for savers until clearer signals on rate adjustments emerge.
How We Identify the Best CD Rates
We analyze data from over 200 federally insured banks and credit unions daily to compile rankings of the top-paying CDs nationwide, ensuring transparency and reliability for our readers.
Our methodology focuses on institutions with minimal deposit requirements and broad availability, providing readers with a comprehensive view of the best CD options.