Below you'll find featured rates available from our partners, followed by details from our ranking of the best CDs available nationwide.

To🥃p 1-Year Rate Drops, but Lea🐓ding 2-Year Rate Is Up

With the expiration of a special offer for a 1-year CD by 澳洲幸运5官方开奖结果体彩网:Nuvsion Credit Union at an exceptional 6.00% rate, the top rate overall is now 5.51%. But the best 2-year rate inched up from 5💃.10% to 5.15% with a CD fro𝓡m .

The 澳洲幸运5官方开奖结果体彩网:best nationwide CD rates today are all for relatively shor𒁃t terms, and in general, the longer the term, the lower the leading rate:

• The best 3-month CD is from 澳洲幸运5官方开奖结果体彩网:TotalBank, at 5.51%.
• The best 6-month CD is also from TotalBank, at 5.51%.
• The best 18-month CD is from 澳洲幸运5官方开奖结果体彩网:Jovia Financial CU, at 5.30% (for 15 months).
• The best 2-year CD is from American 1, at 5.15%.

TotalBank requires a large minimum deposit of $25,000 for each of those CDs, which could put them out of reach for many. But the second-place offers for those terms are more accessible: INOVA Federal offers 5.40% for 4 months with a $200 minimum deposit, and DR Bank offers 5.50% for 6 months with a $500 minimum. Jovia requires just $100 for its 18-month CD, and American 1 requires $1,000 for its 2-year CD.

Lock In a High-Paying CD Before Rates Drop

If you're able to commit to a CD investment for longer, you can guarantee a rate of 5.00% for 36 months, taking you to August 2027. That offer is from and requires a $1,000 deposit. You can get that same rate from 澳洲幸运5官方开奖结果体彩网:Vibrant Credit Union with a minimum deposit of only $5, buജt it's only for 30 mont𓄧hs.

The 澳洲幸运5官方开奖结果体彩网:best 4-year CD rate is 4.65%. That offer is from Credit Human, with a term of 36 to 59 months. If you can put money away for just one month longer, you can score 4.75% for 澳洲幸运5官方开奖结果体彩网:60 months with 澳洲幸运5官方开奖结果体彩网:Grow Financial Credit Union, taking you well into 2029.

Despite paying less than shorter-term CDs, it could be smart to lock in a good rate with a 3-year CD or longer before the Fed makes a rate cut. With CD rates usually anticipating the direction of the federal funds rate, we may see CD rates fall before an actual rate cut is made (and further rate cuts in the future are possible), so time is likely running out to guarantee one of these excellent APYs. Opening a CD today will lock in that rate for the entire duration of the term, allowing you to enjoy a high APY despite falling rates.

CD Rates Still at Historic 20-Years Highs

Today's CD rates aren't at their absolute peak, but they're still running historically high. October brought us a top nationwide rate of 6.50%, and today that's down to 5.51%. Still, quite a few banks and credit unions are offering 5.00% or better. Five CDs among the 澳洲幸运5官方开奖结果体彩网:top national rates pay 5.50% or more, while 12 pay at least 5.35%.

The longest currently available term of 5% or better is 36 months from American 1, mentioned above, but this may not last long. Any APY above 4% may be worth locking in—before the Fed cuts rates.

Jumbo CDs Lead for 1-Year and 5-Year Terms

Jumbo CDs require much larger deposits, and the 澳洲幸运5官方开奖结果体彩网:best jumbo CDs don't offer the best rates in most terms—except for 1-year and 5-year CDs. 🎃is offering 5.40%🐟 for a 12-month term, which is 0.05% higher than the standard 1-year CD.

And 澳洲幸运5官方开奖结果体彩网:Grow Financial F༒ederal Credit Union pays 4.86% for a 60-month term, edging out the best standard 5-year CD (4.75%) by 0.11 percentage points. Grow Financial has held the best 5-year CD since the beginning of J♏une, and it requires a minimum deposit of $100,000.

Where Are CD Rates Headed in 2024?

The Federal Reserve kept 澳洲幸运5官方开奖结果体彩网:the federal f🌠unds rate at its current level of 5.25% to 5.50% at its meeting that concluded yesterday, as was expected. But a rate cut seems to be on the horizon: According to the 澳洲幸运5官方开奖结果体彩网:CME FedWatch tool, 100% of federal funds futures traders expect the Fed will cut rates by at least 0.25 percentage points at its next meeting in September, and they also overwhelmingly predict that rates will move even lower in November.

Recent 澳洲幸运5官方开奖结果体彩网:inflation reports provided more evidence that the Fed's campaign to tamp down inflation has been effective, strengthening predictions of rate cuts in the near future. The central bank's mission to beat inflation led it to raise the federal funds rate 11 times between March 2022 and July 2023, bringing the fed funds rate to its highest level in 22 ye🤪ars.

The central bank's rate-hike campaign has been a boon to savers with cash in the bank, as the fed funds rate directly influences the rates that banks and credit unions pay on CDs. As a result, CD rates hit a 20-year high last fall. Those with money in a 澳洲幸运5官方开奖结果体彩网:high-yield savings or 澳洲幸运5官方开奖结果体彩网:money market account have also benefited from these historic rates, with savings accounts still paying their highest rates in two decades.

But the Fed has kept rates steady since its last rate hike in July 2023. Yesterday marked the eighth consecutive meeting in which the central bank left its benchmark rate unchanged.

The Fed's "dual mandate" compels it to carefully adjust rates in response to economic indicators of inflation and job growth. Recent news of 澳洲幸运5官方开奖结果体彩网:slow wage growth in the second quarter plays an important role in its outlook𒈔.

"The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run," the FOMC said in its official statement today. "The Committee judges that the risks to achieving its employment and inflation goals continue to move into better balance. The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate."

Fed officials are generally careful not to jump the gun and will likely continue waiting for additional reports before making any decisions about changing the fed funds rate. But with confidence in a September rate cut high—and CD rates likely to move in anticipation of the central bank's move—if you've got the funds to spare, lock in an excellent CD rate while you still can.

How We Find the Best CD Rates

Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs to customers nationwide and determines daily rankings of the top-paying certificates in every major term. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), the CD's minimum initial deposit 💯must not exceed $25,000, and any specified maximum deposit cannot be under $5,000.

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.