The best CD rates right now range from 5.35% to 6.00%. The top CD rate is 6.00% APY from Nuvision Credit Union for 10 months, but it has a maximum deposit of $5,000. That APY is more than three times the FDIC's national average rate of 1.80% on a 1-year term and is one of 15 or more top-ranked offers you can find in our best CD rankings below.
Certificates of deposit (CDs) are fixed-interest accounts where you can deposit your money and then withdraw it later. While your money is in the CD, you can't touch it (unless you really need it). Once the term is up—usually a certain number of months or years—you get your money back plus interest. Depending on how much money you deposited, your interest earned could be a few hundred or a few thousand dollars. And since the interest is guaranteed, CDs are a safe investment that appeals to people in various financial situations.
Since 2019, we've been tracking the CD rates of more than 200 nationally available banks and credit unions every weekday, putting the results in our daily ranking of the highest CD yields across every major term. Though we focus on the highest returns available, we also provide you with details on each CD's exact term, the minimum required deposit, and its early withdrawal penalty policy.
Below are the top CD rates available from our partners, followed by the best CD rates that we've found from our research that are available to U.S. customers everywhere.
IN THE NEWS
The Fed held rates steady for a seventh consecutive time at its June 12 meeting. The federal funds rate is at its highest level since 2001, but Fed officials are projecting one or possibly two rate cuts before the end of the year. CD yields closely follow the fed funds rate. Back in October, CD rates reached peaks not seen in more than 20 years, but once the Fed starts cutting rates, CD rates will fall.
Compare the Best CD Rates
Ranked below are the top 15 or more APYs on nationally available CDs with minimum deposits of no more than $25,000. In the case of ties, we rank them first by the shortest available term, then by the lowest minimum deposit, and finally by the smallest early withdrawal penalty. If there's still a tie, we sort alphabetically by institution name.