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- PERSONAL FINANCE NEWS
- CD NEWS
KEY TAKEAWAYS
- The highest nationwide CD rate fell today, lowering the top return from 5.65% to a 6-month offer of 5.55% from Newtek Bank.
- On the upside, a new leading CD was unveiled in the 18-month and 2-year terms, with Credit Human now offering 5.30% on a take-your-pick term of 18-23 months.
- Anyone interested in locking their rate for a longer term can score 5% or more for up to 3 years.
- The best CD rates have been gradually easing lower for months, in anticipation of future Fed rate cuts—something that's been expected to occur this year.
- But this week's inflation data suggests it might be a while before the central bank feels comfortable lowering rates.
Below you'll find featured rates available from our partners, followed by details from our ranking of the best CDs available nationwide.
Lock In 5.30% to 5.55% APY for 3 to 23 Months
The highest CD yields continue to be offered on short-term certificates. After presiding at the top of our rankings for just eight days, our 5.65% rate leader disappeared from the market today. That moves runner-up Newtek Bank back into the lead with its 6-month offer of 5.55% APY.
In addition to that top rate, 10 more CDs are paying 5.40% APY or better, with terms of 3 to 12 months. Two of those pay 5.50% APY, on a term of 5 or 7 months.
Today saw some good news for those who want to stretch their rate lock a little further into the future. Our rankings of the best 18-month and best 2-year CDs got a new leader, with Credit Human's newly unveiled rate of 5.30% on a CD that lets you choose whatever term you like between 18 and 23 months. Yesterday's top rates in those terms were 5.25% and 5.20%, respectively.
Longer Terms Will Lock Your Rate to 2027—Or Beyond
Choosing a CD term longer than two years is also a smart option, since it's possible U.S. interest rates could enter a declining rate period for the next 2-3 years. To lock in a rate that will last far into the future, you can choose a top 3-year CD paying 5.00%, guaranteeing that return until 2027. Or you can opt to guarantee rates in the mid-to-high 4% range for as far as 4 or 5 years down the road.