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Key Takeaways
- Though CD returns have generally been drifting lower, the top nationwide rates held their ground in every CD term today.
- The overall leader is Nuvision Credit Union, paying 5.50% on an 8-month term. That offer would guarantee your rate into June next year.
- You can still also earn at least 5.00% from 20 additional offers, including a 5.05% rate from Spectra Credit Union that's guaranteed for 14 months.
- CDs promise their APY until the end of their term—which means longer-term CDs let you enjoy their high rate for years into the future.
- With further Fed rate cuts likely, rates on new CDs will slide. So act fast to secure one of today's higher rates while you can.
Below you'll find featured rates available from our partners, followed by details from our ranking of the best CDs available nationwide.
Today's Best CD Rate Can Be Guaranteed Until June
CD rates have been inching lower since the Federal Reserve cut its benchmark interest rate more than two weeks ago. But last week's surprise boost to the top nationwide CD rate—from 5.10% up to 5.50%—is still with us.
The 5.50% leading offer comes compliments of Nuvision Credit Union, and its 8-month term lets you lock your rate until June next year. There is, however, a catch for some CD shoppers. The maximum deposit is $5,000 on this CD, so if you're looking to sock away a lot more, this may not be a perfect fit for you.
The national runner-up rate is 5.05%, available from either Newtek Bank for 6 months or 14 months from Spectra Credit Union, which leads the 1-year CD term. Spectra's rate guarantee would last you almost until 2026.
| CD Terms | Yesterday's Top National Rate | Today's Top National Rate | Day's Change (percentage points) | Top Rate Provider |
| 3 months | 5.00% | 5.00% | No change | Three institutions |
| 6 months | 5.50% | 5.50% | No change | Nuvision Credit Union |
| 1 year | 5.05% | 5.05% | No change | Spectra Credit Union |
| 18 months | 4.65% | 4.65% | No change | FedChoice Federal Credit Union |
| 2 years | 4.55% | 4.55% | No change | EFCU Financial |
| 3 years | 4.55% | 4.55% | No change | EFCU Financial |
| 4 years | 4.09% | 4.09% | No change | NASA Federal Credit Union |
| 5 years | 4.00% | 4.00% | No change | Eight institutions |
Multi-Year CD Rates Have Drifted Lower—But Offer Longer Guarantees
In the 18-month term, the national leading rate is 4.65%, available from FedChoice Federal Credit Union for a term of 15 months. Or you can earn almost as much—4.55% APY—while stretching your rate guarantee to 24 or 30 months with EFCU Financial.
Want to extend your return even longer, to 2028 or 2029? The leading 4-year rate is currently 4.09%, available from NASA Federal Credit Union, or you can lock in 4.00% for 5 years with one of eight institutions offering that top APY.
Multi-year CDs are smart right now, as it's likely the Fed will further reduce the federal funds rate—which will in turn push CD rates lower. Additional Fed cuts could occur this year and next, and possibly even in 2026. But any CD rate you secure now will be yours to enjoy until its term ends.
Today's Best CDs Still Promise Remarkable Returns
It's true that CD rates are no longer at their peak. But despite the pullback, they're still paying historically high returns. Last October saw the best CD rates push above 6%, while today the leading rate is down to 5.50%. Still, more than 20 banks and credit unions continue to offer rates of 5.00% or better.
Compare that to early 2022, before the Federal Reserve embarked on its fast-and-furious rate-hike campaign. The most you could earn from the very best CDs in each term ranged from just 0.50% to 1.70% APY.
Jumbo CDs Pay the Highest Rate in Five Terms
Jumbo CDs require much larger deposits, but they don't always offer higher rates. Right now, the best jumbo CDs lead in five of the eight terms we track.
- Among 18-month certificates, State Department Federal Credit Union's 15-month jumbo CD pays 4.73% vs. 4.65% for today's leading standard rate.
- In both the 2-year and 3-year terms, you can now earn a higher 4.65% with a jumbo CD from EFCU Financial than you can with the top standard certificate in those terms.
- State Department Federal Credit Union also wins the 4-year term with its jumbo CD paying 4.11%, compared to the best 4-year standard rate of 4.09%.
- Similarly, State Department Federal Credit Union's jumbo CD in the 5-year term pays 4.11%, outdoing the top standard rate of 4.00%.
| CD Term | Today's Top National Bank Rate | Today's Top National Credit Union Rate | Today's Top National Jumbo Rate |
| 3 months | 5.00%* | 5.00%* | 4.70% |
| 6 months | 5.05% | 5.50%* | 5.00% |
| 1 year | 4.90% | 5.05%* | 5.00% |
| 18 months | 4.50% | 4.65% | 4.73%* |
| 2 years | 4.40% | 4.55% | 4.65%* |
| 3 years | 4.15% | 4.55% | 4.65%* |
| 4 years | 4.05% | 4.09% | 4.11%* |
| 5 years | 4.00% | 4.00% | 4.11%* |
How Far Will CD Rates Fall in 2024?
Last month, the Federal Reserve announced its first cut to the federal funds rate since March 2020. The Fed chose a bold 0.50-point decrease, starting a new phase after an aggressive inflation-fighting campaign of 11 rate increases between spring 2022 and summer 2023, and then a 14-month period of holding the Fed's benchmark rate at its highest level since 2001.
However, Federal Reserve Chair Jerome Powell cautioned last week that the Fed is in no hurry to make further cuts, emphasizing that the committee's decisions will be guided, as always, by the latest economic data.
"If the economy slows more than we expect, then we can cut faster," he said at the National Association for Business Economics (NABE) Annual Meeting in Nashville, Tennessee. "If it slows less than we expect, we can cut slower. And that's really what's going to decide it."
In addition, minutes released today from the Fed's Sept. 18 meeting show that, although the committee voted to cut rates 0.50 percentage points, some Fed members were on the fence between that decision and a smaller 0.25-point rate cut.
Time will tell what exactly happens to the federal funds rate at the last two 2024 meetings and beyond. But with one half-point cut already in the books, the CD rates available now could be the best you'll see for some time. So locking in as soon as possible is a smart financial move.
Daily Rankings of the Best CDs and Savings Accounts
We update these rankings every business day to give you the best deposit rates available:
Note that the "top rates" quoted here are the highest nationally available rates Investopedia has identified in its daily rate research on hundreds of banks and credit unions. This is much different than the national average, which includes all banks offering a CD with that term, including many large banks that pay a pittance in interest. Thus, the national averages are always quite low, while the top rates you can unearth by shopping around are often 5, 10, or even 15 times higher.
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, read our full methodology.