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Why It's So Smart Right Now to Open a CD

Thanks to the 澳洲幸运5官方开奖结果体彩网:Federal Reserve's historic rate-hike campaign between 2022 and 2023 aimed at taming post-pandemic inflation, rates on 澳洲幸运5官方开奖结果体彩网:certificates of deposit (CDs) surged to 20-year highs last fall—reaching above 6%. But now, inflation has cooled, and the Fed has shifted to a rate-cutting phase. As a result, CD rates have been declining, with the 澳洲幸运5官方开奖结果体彩网:top nationwide rate recently slipping to 5.50%.

Unfortunately for savers, the Fed is expected to follow up its September rate cut with 澳洲幸运5官方开奖结果体彩网:one 🐷or two additional cuts stilౠl this year, and likely multiple reductions in 2025. The Fed could even keep cutting rates into 2026, as you can see from Fed members' forecasts in the chart below.

This potentially long rate slide is precisely why today's top CDs—especially multi-year certificates—are such a smart move right now. By locking in one of today's rates, your return on those funds will be insulated from whatever moves the Fed makes in the next year or two—whether that's one rate cut or ten.

Also in your favor is that rates on the best nationwide CDs continue to be attractive. Though returns have softened a bit from their peak, the top CDs are still paying historically high returns. Just compare today's rates below to the rates on a CD opened in early 2022.

Today's Best CDs With Rate Guarantees Until 2026–2029

Our 澳洲幸运5官方开奖结果体彩网:daily ranking of the best CD rates always provides you with a list of the highest nationally available offers. Right now, the top returns are available on shorter-term CDs. But since odds are high that interest rates could enter a two- to three-year decline, it's smart to lock in a🐈 rate today that's guaranteed for two years—or even longer if you feel confident that you can live without access to the cash.

Here are our roundups of today's hottest rates that will guarantee your 澳洲幸运5官方开奖结果体彩网:annual percentage yield (APY) into 2026, 2027, or even through 2028–2029. For further details on any of these CDs, click ဣthe link to our list of the best offers in that term.

The Nation's Best Long-Term CDs - Oct. 24, 2024

Can't Commit Until 2026? Here Are Your Next-Best Options

If you're not able or willing to lock up any savings for 15 months or more, you can still benefit from today's historically high rates. One way is by putting money in a shorter-term CD, depending on your timeline:

• 澳洲幸运5官方开奖结果体彩网:Today's Best 3-Month CD Rates: Rates up to 5.00%
• Today's Best 6-Month CD Rates: Rates up to 5.50%
• 澳洲幸运5官方开奖结果体彩网:Today's Best 1-Year CD Rates: Rates up to 5.05%

As you can see, some of these CDs pay higher rates than you'll find with the longer-term CDs. While that makes them near-term winners, you'll lose when your short-rate guarantee runs out.

For money that you need to keep fully accessible and can't commit to a CD, consider a high-yield savings account. Our daily ranking of 澳洲幸运5官方开奖结果体彩网:the best savings account rates reaches up to 5.50% APY, with more than a dozen additi🦹onal offers paying 5.00% or more.

How We Find the Best Savings and CD Rates

Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs and savings accounts to customers nationwide and determines daily rankings of the top-paying accounts. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), ওand the account's minimum initial deposit must not exceed $25,000.

Banks must be available in at least 40 states. And while some credit unions require you to donate to a specific charity or association to become a member if you don't meet other eligibility criteria (e.g., you don't live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, 澳洲幸运5官方开奖结果体彩网:read our full methodology.