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

Lock In 5.55% APY for 6 Months

Newtek Bank's 6-month CD offers 5.55% APY, with a minimum deposit of $2,500. It's been the best nationally available certificate since March 18.

All of the other CDs offering at least 5.50% have terms in the 5-7 month range. Most of them require a deposit of at least $2,500, except for ($500 minimum depꦚosit) and ($1,000 deposit).

In the 1-year term, you can 澳洲幸运5官方开奖结果体彩网:earn as much as 5.40% APY, guaranteeing your rate into 2025. Five financial institutions offer that rate, and some have relatively low minimum deposits. You can also earn 5.20% into 2026 with the 澳洲幸运5官方开奖结果体彩网:best 2-year CD or secure a 5.00% rate as long as 2027.

澳洲幸运5官方开奖结果体彩网:Certificate of deposit (CD) rates have softened since climbing to a record high of 6.50% in October. At the start of Febru♌ary, the number of CDs in our daily ranking that paid a least 5.50% APY was 30. Today that count is down to five.

But don't lose sight of how high CD returns still are relative to the past 20 years. Being able to lock in a yield in the 4% to 5% range for a year or more down the road is still a great earning opportunity, especially if future interest rates fall.

Also keep in mind that snagging the absolute highest APY isn't the only way to win with today's CDs. At the moment, you can only get that 5.55% rate on a 6-month term. But since CD rates could fall significantly in 2024 and 2025, locking in a slightly lower rate soon that's guaranteed far into the future can be a smart move.

Today's Top Bank, Credit Union, and Jumbo CD Rates

still offers the best jumbo CD rate: 5.65% APY for a 17-month term, with a minimum deposit of $99,000. This has remained the best🎉 jumbo rate since the beginning of January.

As always, beware that 澳洲幸运5官方开奖结果体彩网:the best jumbo CD rates don't always pay more than standard certificates. Often, you can do just as well—or better—with a standard CD. That's the case right now in every term but two below, so it's🥂 always ♚wise to shop both certificate types before making a final decision.

Where Are CD Rates Headed in 2024?

CD rates are expected to fall further this year. The question is when exactly. The answer depends on moves by the Federal Reserve, which controls the 澳洲幸运5官方开奖结果体彩网:federal funds rate, which in turn heavily influences CD rates.

The Fed announced on March 20 that it is maintaining the fed 🌠fund rate at its current level, the fifth meeting in a row it's done so. To c๊ombat decades-high inflation, the Fed had aggrꦕessively hiked interest rates between March 2022 and July 2023, raising the fed funds rate to its highest level in 22 years.

This created historically favorable conditions for CD shoppers, as well as for anyone holding cash 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. Rates on CDs𒅌 continued rising to a peak this fall, reaching their highest levels in two deca🐷des.

澳洲幸运5官方开奖结果体彩网:Inflation has since been cooling, allowing the Fed to stop raising interest rates. But it's now in wait-and-see mo♏de, looking for evidence that inflation has fallen enough to justify lowering the federal funds rate. According to the Fe🅠d's statement last week, that first rate cut could still be a ways off.

"The Committee does not expect it will be appropriate to reduce the (fed funds rate) until it has gained greater confidence that inflation is moving sustainably toward 2 percent," the central bank said in the statement, using language identical to its previous statement in January.

Federal Reserve Gov. Chris Waller said last evening that inflation and job gains data from this quarter reinforced his earlier view that "there is no rush" to cut interest rates. That was before economic indicators were released today showing that GDP growth iꦏn the fourth quarter of last year was higher than expected, and the number of people filing for unemployment fell in the week ending March 23. That'💟s just more data backing up t📖he argument that the economy is running strong and a rate cut isn't needed right away.

Last week, the median prediction from members of the Fed's rate-setting committee was for three rate reductions this year. Financial markets still currently agree, betting on at least three rate decreases this calendar year, according to the CME Group's FedWatch Tool. A majority of traders believe the first cut will arrive in June or July.

Of course, what markets predict today and what the Fed ultimately does may or may not align. But given an assumption of a reduced fed funds rate sometime this year, CD rates are likely to continue drifting lower. Then once it appears a Fed♏ rate decreasওe is actually forthcoming, CD rate declines will likely accelerate.

The central bank will hold six more rate-setting meetings in 2024, with the next one scheduled for April 30 through May 1.

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), and the CD🔯's minimum initia꧙l 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.