As of December 13, 2024, there are only two opportunities left to secure a Certificate of Deposit (CD) rate of 5% or higher. Nuvision Credit Union is leading the nation with a CD rate of 5.50% for an 8-month term, but it comes with a deposit limit of $5,000. For those looking to invest larger sums, Alabama Credit Union offers a 5.00% APY for 7 months with no balance cap.
For those seeking longer-term stability, Signature Federal Credit Union is offering 4.65% on a 13-month CD, which guarantees your rate until 2026. XCEL Financial provides a 4.50% rate for 18 months. CDs ranging from 2 to 5 years offer rates up to 4.30%, extending your rate guarantee until late 2029.
The Federal Reserve is anticipated to cut interest rates next week, making it prudent to secure one of today’s top CDs while they are still available. Below are featured rates from our partners, followed by details on the best CDs nationwide.
Featured rates are available from our partners, and you can find more details about the best CDs available across the country in our ranking. The offers in this table are from partnerships from which we receive compensation. For further details, please refer to our full advertiser disclosure.
Institution | APY | Min. To Earn | APY Highlights
Guarantee 5%-Plus Until July or August—Or 4.65% Until 2026
The best CD rates have been on a downward trend since the Federal Reserve reduced its benchmark interest rate in September and November. The highest 12-month rate has dropped from 5.00% to 4.65%, offered by Signature Federal Credit Union for a 13-month term, which secures your return until January 2026.
Nuvision Credit Union’s CD, with a leading rate of 5.50%, is available for an 8-month term until August, but note that the offer is not guaranteed to last until December 31. It has a maximum deposit limit of $5,000. For those wishing to invest more, Alabama Credit Union’s CD offers a 5.00% rate for 7 months with no maximum deposit limit, securing your return until July.
CD Terms | Yesterday’s Top National Rate | Today’s Top National Rate | Day’s Change (percentage points)
Top Rate Provider
3 months | 4.85% | 4.85% | No change | PonceBankDirect
6 months | 5.50% | 5.50% | No change | Nuvision Credit Union
1 year | 4.65% | 4.65% | No change | Signature Federal Credit Union
18 months | 4.50% | 4.50% | No change | XCEL Federal Credit Union
2 years | 4.30% | 4.30% | No change | Credit Human
3 years | 4.25% | 4.25% | No change | Credit Human and Popular Direct
4 years | 4.15% | 4.15% | No change | Popular Direct
5 years | 4.25% | 4.25% | No change | Popular Direct
For a comprehensive view of the top 15–20 nationwide rates for any term, simply click on the desired term length in the left column above.
Considering a longer CD term can secure your rate further down the road. XCEL Federal Credit Union’s 18-month certificate is a good option for those looking to guarantee their return into 2026, offering a rate of 4.50%.
As of December 13, 2024, there are only two chances left to lock in a Certificate of Deposit (CD) rate of 5% or more. The top Annual Percentage Yield (APY) currently stands at 5.50%, a significant increase from the rates of 0.50% to 1.70% APY seen in early 2022. This rise is attributed to the Federal Reserve’s aggressive rate-hike campaign to combat high inflation.
For those seeking a longer-term rate guarantee, Credit Human offers a 2-year CD with an APY of 4.30%. The top 3-year return is 4.25%, provided by both Credit Human and Popular Direct. Popular Direct also leads with the highest 4-year and 5-year rates at 4.15% and 4.25%, respectively. A 5-year CD would secure your rate until almost 2030.
Investing in long-term CDs could be a wise move, considering the Federal Reserve’s expected continued rate cuts. The central bank has already lowered the federal funds rate by three-quarters of a point this fall, with another reduction expected next week. Further rate cuts in 2025 are also anticipated. While these reductions will push bank APYs lower, securing a CD rate now will lock in your return until maturity.
Despite no longer being at their peak, today’s best CDs still offer historically high returns. In October 2023, the best CD rates exceeded 6%, and now, the leading rate is 5.50%. Jumbo CDs, which require larger deposits, currently outperform standard CDs in just two terms. GTE Financial’s 1-year jumbo CD offers a 4.85% APY, higher than the top standard rate. Quorum Federal Credit Union provides a 2-year jumbo CD at 4.35% APY, compared to the top standard rate of 4.30%.
The table below outlines the top national rates for various CD terms:
CD Term | Today’s Top National Bank Rate | Today’s Top National Credit Union Rate | Today’s Top National Jumbo Rate
— | — | — | —
3 months | 4.85%* | 4.80% | 4.11%
6 months | 4.75% | 5.50%* | 4.85%
1 year | 4.52% | 4.65% | 4.85%*
18 months | 4.35% | 4.50%* | 4.49%
2 years | 4.29% | 4.30% | 4.35%*
3 years | 4.25%* | 4.25%* | 4.13%
4 years | 4.15%* | 4.11% | 4.07%
5 years | 4.25%* | 4.11% | 4.02%
*Indicates the highest APY offered in each term.
Looking at the trajectory of CD rates, the Federal Reserve’s recent cuts to the federal funds rate, following a significant reduction in September, signal a shift from the 2022-2023 rate-hike campaign. With inflation cooling, the Fed is expected to continue lowering rates. According to the CME Group’s FedWatch Tool, there is a 93% chance of another quarter-point rate reduction at the upcoming meeting.
Fed rate moves are significant for savers. Reductions in the fed funds rate lead banks and credit unions to pay less for consumer deposits. As a result, CD rates and savings account rates seem likely to decline slowly into 2025 and perhaps beyond. Time will tell what happens to the federal funds rate next year. But with a couple of Fed rate cuts already, the current CD rates are probably the best you’ll see for a while. Now is a smart time to lock in the best rate for your financial timeline.
Daily Rankings of the Best CDs and Savings Accounts. We update these rankings every business day to provide the best deposit rates available: Best 3-Month CD Rates, Best 6-Month CD Rates, Best 1-Year CD Rates, Best 18-Month CD Rates, Best 2-Year CD Rates, Best 3-Year CD Rates, Best 4-year CD Rates, Best 5-Year CD Rates, Best High-Yield Savings Accounts, Best Money Market Accounts.
Note that the ‘top rates’ quoted here are the highest nationally available rates apexfinancialpath has identified in its daily rate research on hundreds of banks and credit unions. This is different from the national average, which includes all banks offering CDs with that term, including many large banks that pay low interest. Thus, the national averages are always low, while the top rates you can find by shopping around are often 5, 10, or even 15 times higher.
How We Find the Best CD Rates. Every business day, apexfinancialpath tracks the rate data of more than 200 banks and credit unions that offer CDs 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), the CD’s minimum initial deposit must not exceed $25,000, and any specified maximum deposit cannot be under $5,000. Banks must be available in at least 40 states. Credit unions with a donation requirement of $40 or more to become a member if you don’t meet other eligibility criteria are excluded. For more about how we choose the best rates, read our full methodology.