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- PERSONAL FINANCE NEWS
- CD NEWS
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KEY TAKEAWAYS
- The best CD rate in the country is an eye-popping 6.00% APY, available from Nuvision Credit Union for a 10-month term.
- An additional nine CDs offer rates of 5.50% and up, including a new offer today from Paramount Bank paying 5.55% APY for 11 months.
- One of the 5.50%-plus offers is a jumbo CD. Available from My eBanc, it pays 5.51% APY for 6 months with a minimum $50,000 deposit.
- For a longer rate lock, you might like NexBank's leading 1-year rate of 5.40%, Credit Human's 5.10% on up to 23 months, or one of a few 3-year CDs paying 5.00% APY.
- The Fed held rates steady for a seventh time on June 12, waiting for inflation to ease. But with rate cuts likely this year, it's smart to grab one of today's best CDs before APYs begin dropping.
Below you'll find featured rates available from our partners, followed by details from our ranking of the best CDs available nationwide.
The 10 CDs Pay 5.50% to 6.00%—With Many Locked Until 2025
Nuvision Credit Union continues to wear the national CD rate crown, offering the top rate of 6.00% APY on a 10-month certificate. Before June, we hadn't seen a rate that high since November. Although this is the best CD return on the nationwide market, the promotional certificate is limited to a $5,000 maximum deposit.
If you want to sock away more than that but still want a tip-top rate, you might like one of eight additional standard CDs, or one jumbo CD, that are paying 5.50% APY or better. They include 5.55% offers from INOVA Federal Credit Union for 5 months, or a new-today CD from Paramount Bank for 11 months.
Of these ten CDs paying 5.50% to 6.00%, seven will lock in your rate until at least the last week of 2024, with several extending into 2025.
Longer CDs Pay Up to 5.10%, Locked Until 2026 or Beyond
Since we may see U.S. interest rates decline over the next two to three years, it's a smart time to lock in a high multi-year rate while you can. Though the top 2-year CD rate dropped last week, it was a minor dip. Still offered by Credit Human on a term of your choosing between 18 to 23 months, the current rate is 5.10%. That rate can be guaranteed into 2026.
Want to stretch your rate lock longer than that? You can earn up to 5.00% with the best 3-year CDs. Vibrant Credit Union promises that APY for 30 months, while two providers—DollarSavingsDirect and Transportation Federal Credit Union—offer it for a full 36 months.
To extend your rate lock even longer, the best 4-year CD pays 4.86%, or you can secure 4.80% for 5 years. Meanwhile, eight additional 5-year CDs pay 4.50% or better.
LARGE U.S. BANK IS 5-YEAR CD RATE LEADER
The top nationwide CD rates are typically offered by smaller banks and credit unions. But right now, the top 5-year return comes from a large U.S. Bank. BMO Alto is the online-only arm of banking giant BMO, which operates about 1,000 physical branches and is the 12th-largest U.S. bank by deposits. Though it only pays the top nationwide rate in the 5-year term, BMO Alto also has reasonably competitive rates on CDs ranging from 6 months to 4 years.