Savers got a slew of new options for high-earning CDs, with especially juicy rates now available for those looking to lock in a high rate for longer: The top 3-year rate rose to 5.23% from 5.13%, and a 5-year CD now offers 4.86% interest, up from 4.77% the day before.
The new leader for 3, 4 and 5-year terms is U.S. Senate Federal Credit Union, which took the top spots for standard CDs as well as “jumbo” offerings, which require large deposits. Meanwhile, American 1 Credit Union’s 6.00% APY offer on a 1-year term still leads the pack for the best overall rate.
- The best rate on a 3-year CD climbed to 5.23% APY today, up from 5.13% APY.
- The top rate for a 5-year CD edged up to 4.86% from 4.77%, while the best available for a 4-year term slipped to 4.81% from 4.85%.
- The overall leading rate among the best nationwide CDs jumped to 6.00% APY earlier this week making it the first nationally available CD to hit that threshold since the Fed began raising interest rates last year.
- The number of CDs with rates of 5.50% APY or higher rose to 41 today.
- Data this week showing a cooling economy made it less likely that the Fed will raise its benchmark interest rate again, meaning more upward pressure on CD rates may not be forthcoming.
To help you earn as much as possible, here are the top CD rates available from our partners, followed by more information on the best-paying CDs that are available to U.S. customers everywhere.
Always be sure you understand a bank or credit union’s early withdrawal penalty for a CD you’re considering. The penalty policies vary widely—from mild to harsh to downright onerous—and you are fully within your rights to ask that the policy be explained to you before committing your funds.
Looking to secure a record rate for a longer term? You can score 5.23% APY from the leader of our best 3-year CDs ranking, or at least 5.00% from five other contenders in that term. The current top rates in the 4-year and 5-year terms, meanwhile, are 4.81% APY and 4.86% APY, respectively.
If you have a jumbo-sized deposit, you can earn a bit more in some terms. The top jumbo rate is currently 5.85% APY, available on a 6-month certificate requiring at least a $100,000 deposit.