Key Takeaways
- The top spot for standard CDs is held by Newtek Bank, offering a 5.55% APY for a 6-month term.
- Other competitive yields include 5.42% from TotalDirectBank for 3 months and 5.40% from Apple Federal Credit Union for 12 months.
- For jumbo CDs, Hughes Federal Credit Union leads with a 5.65% APY for a 17-month term with a minimum deposit of $99,000.
- The Federal Reserve recently maintained interest rates, awaiting better control over inflation.
- While CD rates have been gradually decreasing, a sharper decline is expected when the Fed signals a rate cut.
Highlighted are the rates available from our partners and insights from our top national CD rankings.
Rates for Standard CDs Hold Steady
Leading rates for standard CDs across various terms, including a standout 5.55% APY for a 6-month term from Newtek Bank with a $2,500 minimum deposit.
Longer-term standard CDs offer stability, with the best rates at 4.80% for a 4-year term from Pelican State Credit Union and 4.60% for a 5-year term from Credit Human.
Today’s Top Bank, Credit Union, and Jumbo CD Rates
Hughes Federal Credit Union leads with a 5.65% APY for a 17-month jumbo CD, while My eBanc offers a competitive 5.49% rate for a 6-month term.
It’s worth comparing standard and jumbo CD rates as sometimes standard certificates may offer better returns.
Where Are CD Rates Headed in 2024?
Recent Federal Reserve actions indicate a potential decrease in interest rates, impacting CD rates in the near future.
While current CD rates are attractive, a rate cut may lead to a downward trend in CD returns.
How We Find the Best CD Rates
We evaluate over 200 banks and credit unions daily to provide accurate rankings of top-paying CDs, ensuring a minimum deposit limit and federal insurance.
Our methodology includes criteria like national availability and membership requirements for credit unions, focusing on rates that benefit consumers the most.