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- PERSONAL FINANCE NEWS
- CD NEWS
KEY TAKEAWAYS
- For the second business day in a row, the leading nationally available CD rate in the 18-month term climbed: You can now earn 5.40% APY from Northern Bank Direct on a 15-month term.
- The overall leading CD rate remains 5.55% APY, offered for 6 months by Newtek Bank.
- 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 last 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
After climbing from 5.25% to 5.30% Friday, the top nationally available rate in the 18-month CD term rose again today. Bumping the top rate to 5.40% APY is Northern Bank Direct, whose offer is available for a 15-month term.
The highest CD yields of all continue to be offered on short-term certificates. Presiding at the top of our rankings is Newtek Bank, which is paying the nation-leading rate of 5.55%, available for a 6-month term. The runner-up rate is 5.50%, available from two different institutions, with terms of 5 or 7 months.
In addition to those three tip-top rates, nine more CDs are paying 5.40% APY or better, with terms of 3 to 12 months. For a slightly longer term, though, you might like Credit Human's offer of 5.30% on a take-your-pick term of 12-23 months.
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.