Below you'll find featured rates available from our partners, followed by details from our ranking of the best CDs available nationwide.

Bank𒁃s and Credit Unions Offer 5.40%♋ to 6.00% for Up to a Year

The top-paying rate still comes from a 10-month CD from , which has held the title since June 4 with 6.00% APY. Previously, we had not seen a rate that high since November. Although this is the 澳洲幸运5开奖号码历史查询:best CD rate available, you're limit🔜ed to a $5,000 maximum depo🐲sit (with a minimum of $1,000).

If you can afford to put more than that into savings, you have several term options at lower rates. has the second-best rate at 5.55%, with no stated maximu🎃m, although the term is just 5 months.

Longer term lengths are available from other providers, giving you an opportunity to lock in a good rate for years to come. and each offer 5.00%; Vibrant offers that rate for 30 months and has no stated maximum deposit amount, while DollarSavingsDirect's offer lasts 36 months and has a maximum deposit of $1 million.

Get a Longer CD to Secure Your R🅺ate Into 2026 and Beyond꧒

We may see U.S. interest rates decline over the next two to three years, so it could be a good time to lock in a high multi-year rate while you can. Some providers, like , allow you to pick a term from a narrow range of options, in this case 澳洲幸运5开奖号码历史查询:18 to 23 months at 5.15% APY. Tha🐽t can take you into 2💛026, if you wish.

If you want to earn at least 5.00%, the longest terms you'll find are in the 澳洲幸运5开奖号码历史查询:3-year range. As mentioned above, guarantees t🅷hat APY for 30 months, and two providers offer it for 36 months— and .

To stretch your rate guarantee even further, the 澳洲幸运5开奖号码历史查询:best standard 5-year CDs offer APYs up to 4.80%. The highest rate among them is provided by , and the account has no maximum deposit limit. Nine other accounts currently offer 4.50% or better in that term range.

Some of the Best CD Rates We've Seen for 20 Years

CD rates reached a historic peak of 6.50% in October 2023, and have only come down slightly since then. In February of this year, 30 CDs in 澳洲幸运5开奖号码历史查询:our daily ranking guaranteed at l🎃east 5.50% APY. Now, however, you'll only find seven.

Despite that, looking back over the past 20 years, these rates are still exceptional. APYs above 4% still present a great investment opportunity, and it may be worth locking one in before th🐠e Fed cuts rates.

You don't have to get the absolute highest APY to feel satisfied with your investment. If you find an account with a term length and features you like, it may be a wise decision to grab it now before rates move.

Jumbo CDs Offer a Rate Bump in Some Terms

If you've got enough for a jumbo CD, you can lock in a rate higher than standard CDs for certain terms. State Department Federal Credit Union offers 5.41% APY for 15 months, better than the best standard CD of 5.25% from DR Bank. And if you want to put money away for the long haul, Grow Financial Federal Credit Union began offering a new 5-year rate earlier this week—4.86% APY, a bit better than the best standard CD of 4.80% from BMO Alto.

As you can see below, 澳洲幸运5开奖号码历史查询:the best jumbo CD rates don't always pay more than standard certificate﷽s. In many cases you can do better with a standard CD. That's the case🏅 right now in six of the eight terms below, and that's been true since June 3.

Where Will CD Rates Go in 2024?

To combat decades-high inflation, the 澳洲幸运5开奖号码历史查询:Federal Reserve aggressively hiked the 澳洲幸运5开奖号码历史查询:federal funds rate between March 2022 and July 2023, raising the benchmark rate to its highest level in 22 years. That's important to saveꦇrs because when the fed funds rate rises, banks and credit unions increase the interest rates they're willing to pay on customer deposits.

As a result, this past fall saw historically favorable conditions for CD shoppers, as well as for anyone holding cash in a 澳洲幸运5开奖号码历史查询:high-yield savings or 澳洲幸运5开奖号码历史查询:money market account. Rates on CDs rose to an October-November peak that wa♋s the highest we've seen in two decades.

But since its last rate hike in July, the Fed has been in a holding pattern. As was all but certain, the Federal Reserve's rate-setting committee announced on June 12 it was once again maintaining the federal funds rate at its current l🔯evel. It's the seventh meeting in a row in which the central bank has held its benchmark rate steady.

That's because 澳洲幸运5开奖号码历史查询:inflation has been cooling, allowing the Fed to stop raising interest rates. Yet, further inflation progress has been elusive. That puts the central bank in wait-and-see mode as it looks for evidence that inflation is falling enough to justify lowering t♏he federal funds rate.

Wednesday's written statement from the Fed again included familiar language about remaining focused on tamping down inflation that is still too high: "Inflation has eased over the past year but remains elevated. In recent months, there has been modest further progress toward the Committee's 2% inflation objective."

The rate decision was also accompanied by the quarterly "dot plot" release, which reveals where each Fed board member (represented by a unnamed dot on a graph) predicts the federal funds rate will be at the end of the current ꧙year, as well as the next two years.

The June dot plot shows a median projection of one rate cut of 0.25 percentage points by the end of 2024. However, a sizable group predicted we'll see two rate decreases. At the other end of the spectrum, a 20% contingent forecasted the federal funds rate will stay where it is for the rest of this year.

Speaking during his customary press conference following the statement release, Fed Chair Jerome Powell made it clear that the committee is looking💝 for continued⭕ evidence of a decline in inflation before it will implement a rate cut.

"Goals have moved toward better balance, but the economic outlook is uncertain," Powell said. "We remain highly attentive to inflation risks. We've stated that we do not expect it will be appropriate to reduce the target range for the federal funds rate until we have gained greater confidence that inflation is moving sustainably toward 2%."

In response to the Fed's announcement and Powell's remarks, fed funds traders have increased their bets that a first rate cut will come in September. For the next meeting, concluding July 31, odds of another rate hold are currently at 85% to 90%. But looking toward the Sept. 18 announcement, about 70% of traders believe the Fed will have implemented its first rate decrease.

In the meantime, Fed officials are expected to continue watching and waiting for additional data before making any decisions. This means CD rates are generally expected to continue their plateau. When at some point the Fed signals it's ready to start cutting rates, which could happen in the not-too-distant future, that will begin driving CD yields down more quickly. So it's a good time to lock in one of today's stellar CD rates while you still can.

How We Find the Best CD Rates

Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs to customers nationwide and determines daily rankings of the top-paying certificates in every major term. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), and the CD's 🌄minimum🗹 initial deposit must not exceed $25,000.

Banks must be available in at least 40 states. And while some credit unions require you to donate to a specific charity or association to become a member if you don't meet other eligibility criteria (e.g., you don't live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, 澳洲幸运5开奖号码历史查询:read our full methodology.