We independently evaluate all recommended products and services. If you click on links we provide, we may receive compensation. Learn more. Right now, the best CD rate across all terms is 5.79% APY, offered by Climate First Bank for 8 months. To find you the best CD rates nationwide, we review CD rates from hundreds of banks and credit unions every weekday morning. The top CD rates in our rankings typically pay three to five times as much as the national average—or even more. Below are the top CD rates available from our partners, followed by the best CD rates that we've found from our research that are available to U.S. customers everywhere. CD rates reached higher in 2023 than we’d seen in more than 20 years, pushed up by the Federal Reserve’s rate-hike campaign that began in March 2022 to tame decades-high inflation. For its last three meetings, however, the Fed has held the federal funds rate steady, and in its Dec. 13 rate announcement, Fed Chair Jerome Powell indicated the committee’s rate-hike cycle ismost likely complete. Further, most Fed members project that two to four rate cuts will occur by the end of 2024. Because CD rates closely follow the fed funds rate, the Fed’s current holding pattern already has caused CD rates to soften, andfurther declines are likelyover the coming weeks and months. In cases where more than one institution offers the same top rate, we've prioritized CDs by the shortest term, then the CD requiring a smaller minimum opening deposit, and if there's still a tie, we sort alphabetically by institution name. Investopedia collects thousands of CD rates from hundreds of banks and credit unions every weekday. When ranking CD rates, we look at factors like term, early withdrawal penalty, and minimum opening deposit. We also research banks and credit unions to provide unbiased, comprehensive reviews to ensure our readers make the right decisions for their needs. Investopedia launched in 1999 and has been helping readers find the best CD rates since 2019. The CDs we recommend must be available nationwide and these certificates typically pay three to five times as much as the national average—or even more. To be eligible for our rankings, each CD's minimum opening deposit requirement cannot exceed $25,000 and must be offered by an FDIC-insured bank or NCUA-insured credit union (which covers up to $250,000 per depositor). Pros 3-, 6-, and 12-month CDs all have rates of at least 5.50% Cons High minimum opening deposit TotalDirectBank can't conduct business in Florida Pros Offering the best nationwide CD rate No early withdrawal penalty As a new bank, it does not have much of a track record Only three physical locations, all in Florida Pros Low minimum deposit requirement Cons Offer limited to new members with new money Pros Full range of online banking services Cons Minimum deposit a bit higher than other offerings Pros Rate available for a range of terms from 12–23 months Pros Low minimum opening deposit Cons Only three physical branches Pros 5.00% APY is good for terms ranging from 3 months to 5 years Cons Complicated early withdrawal penalty Pros 5.00% APY is good for terms ranging from 3 months to 5 years Cons Complicated early withdrawal penalty Pros Lower minimum opening deposit Cons Large early withdrawal penalty To earn full APY, must leave money in CD for 72 months Pros Low minimum opening deposit Cons 10 years is a long time to leave money in a CD Many of the banks and credit unions in our best CD rates rankings above also offer high-yield savings accounts and/or money market accounts with competitive rates. These accounts are more liquid, so if you feel you may need access to your money sooner, consider a savings or money market account rather than a CD. A CD rate is an interest rate that shows what a bank or credit union will pay you for depositing your money with them for a certain period of time. For example, if the rate is 5.50% for a 1-year CD, the bank or credit union will pay you 5.50% in interest on your money for keeping it in the account, untouched, for 12 months. CD rates typically follow the trend of the fed funds rate. So when the fed funds rate is low, CD rates tend to be lower. When the fed funds rate is higher, CD rates tend to be higher. CD rates hit historic highs in 2023, but that was not always the case. In 2020, the Federal Reserve lowered the fed funds rate to near zero. CD rates followed suit and dropped. In November 2021, the best CD rates nationwide across terms of 6 months to 5 years ranged from 0.70% to 1.35% APY. Over the next two years, the Fed increased the fed funds rate to combat high inflation. By November 2023, the fed funds rate was a target of 5.25%-5.50%, and the best CD rates were between 5.25% and 6.00%. If and when the Fed lowers its target rate, then CD rates may also decrease. Locking in a high CD rate now could help you maximize your savings. CD rates took off in 2023. In 2024, there's no sure answer as to what CD rates will do. CD rates are closely tied to the fed funds rate. In December 2023, the Federal Reserveheld interest rates steady, keeping it at a 22-year high for the third meeting in a row. The Fed's December 2023dot plot shows that no members of the rate-setting committee predict another rate increase in 2024. Instead, expectations are for three rate cuts in 2024, for a total drop of 0.75%. If those rate cuts happen, then CD rates will likely follow suit. Of course, nothing is certain. But in anticipation, CD rates softened in December 2023, and so there may be more rate drops in 2024. If you think CD rates will drop in the future, now may be a good time to lock in a CD rate. Opening a certificate of deposit (CD) is very similar to opening any bank deposit account. The difference is what you're agreeing to when you sign on the dotted line (even if that signature is now digital). After you've shopped around and identified which CD(s) you'll open, completing the process will lock you into four things: Once your CD is established and funded, the bank or credit union will administer it like most other deposit accounts, with either monthly or quarterly statement periods, paper or electronic statements, and usually monthly or quarterly interest payments deposited to your CD balance, where the interest will compound. If you invest $10,000 in a CD for one year, you could earn $570—that's based on the best 1-year CD rate offered right now (5.70% APY). CD rates fluctuate and can change, so locking in a high interest rate today could guarantee you the maximum earnings, especially if CD rates drop by next year. When asked in December if they were choosing more or less of certain investments during recent market events,28% of Investopedia readers saidthey were leaning into CDs—just one percentage point behind the leading choice of money market funds. Additionally, 11% of readers said they would open a CD if they had an extra $10,000 to invest, in third place behind individual stocks and ETFs. There are several types of CDs in which you can deposit your money. Some have variable rates, while others have fixed rates (like those listed above). Others are connected to a brokerage, and some have large minimum opening requirements. There are several kinds of CDs you can open. Do your research and ask questions to be sure you understand how the CD works for your savings goals before you buy it. Pros Guaranteed yield for the CD's full term Higher interest rates than liquid accounts Fully predictable earnings and withdrawal date Extremely safe, with virtually no bank or market risk Can deter spending temptations Cons Early withdrawal of the funds incurs a penalty You can’t add to your deposit If rates rise, you may miss out on a higher yield If rates drop, you may wish you’d chosen a longer CD Typically return less than stocks over long periods When choosing a CD, consider the following factors: Once you choose a CD, open the account, and deposit your money to start earning interest. I had two short-term savings goals, so I looked for a 6-month and a 1-year CD with a high APY that I could ladder. I checked out a few of the options on our list and decided to go with CIT Bank and Bread Savings, because applying for the CDs online was really easy, and they offered mobile apps—I’m one of those people who checks their financial accounts frequently, if not daily. I’d keep accounts with both of them (assuming the rates are good when the two terms end). Some of the best CD rates are offered by online banks and credit unions. So don't just settle for opening a CD with the bank you use every day for your checking account. Big banks like Bank of America, Chase, Capital One, Wells Fargo, American Express, and more offer CDs too, but they may not pay the highest CD rates. It's important to shop around and consider all financial institutions before choosing a CD. To open a CD, you'll need some personal information like name, address, phone number, and more. For example, you may need to provide a copy of your license or ID if you don't have an account with that institution already. When you have that info handy, fill out the application for your CD account. You'll likely need to state how you'll fund the CD, whether via direct deposit or another method, too. Once you fund the CD, you may have to state how you want to receive the interest—all at the end or in monthly installments. Once you've done all that, you should officially have a CD in your name, though check with the institution to ensure you've taken all the right steps. Smart CD investors have a specific tactic for hedging against rate changes over time and maximizing their return. It's called aCD ladderand it enables you to access the higher rates typically offered on 5-year CDs, but with the twist that a portion of your money becomes available every year, rather than every five years. Here's how to do it. Just like how the interest you earn on any money you have in savings, money market, and checking accounts is taxable as interest income at both the state and federal levels, the interest you earn on your money in a CD is too. Your CD earnings will be reported to the IRS in the year they were earned and posted to your account, so that's when they're taxable—even though you may not withdraw the funds for one or more years into the future. For example, if you have $1,000 in a 1-year CD with a 5.00% interest rate, you'll earn $50 in interest. You owe taxes on that $50, but not on the $1,000 principal you deposited at the start of the term. Traditional savings accounts tend to offer a low interest rate. Banks or credit unions with no high-yield savings account options may only offer traditional savings accounts that pay 0.01% to 0.10%. While the national average for savings rates is 0.46%, according to the FDIC, many banks pay much less. For example, Wells Fargo's Way2Save account pays 0.15% APY and Chase offers just 0.01% with its Chase Savings account. When interest rates are high, the top CD rate can be up to 600x the rate you may be earning on your money in a traditional savings account. If you just aren't sold on committing your funds for a certain amount of time, or simply can't afford to because you may need the money in the near term, a high-yield savings account. You'll be free to withdraw and deposit funds as you like, though some institutions will limit how many withdrawals you can make each month. Some savings accounts may also require a minimum balance. If you're looking for other high-yield accounts, a money market account may serve your needs. Money market accounts offer the feature of allowing you to write checks on the account. They may also come with minimum deposit or balance requirements like savings accounts, and money market account rates can easily compete with savings account rates. You can always find the top nationally available rates in our daily rankings of the best high-yield savings accounts and best money market account rates. Both accounts have deposit insurance through the FDIC or NCUA. Some money market accounts come with debit cards, but money market accounts tend to act more like savings accounts. If you're interested in venturing out of the bank and into the world of bonds, you have numerous options. You could put cash savings into U.S. government I bonds, which are designed to track or beat the inflation rate. Or you could invest in U.S. Treasuries, in which you lend money to the U.S. government for a fixed amount of time. The Treasury notes with durations of four weeks to one year are called T-Bills. Another option is corporate and municipal bonds. Though it's difficult to research individual bonds on your own, you can easily invest in a bond mutual fund or bond exchange-traded fund which is diversified across a bundle of different bond issues. You can also enter and exit these funds at any time. If you have a brokerage account, you can also hold savings in the brokerage’s cash reserve account or their money market fund (not to be confused with the money market accounts offered by banks). Just be sure to research what rate you’ll earn because in many cases, these brokerage cash accounts pay far less than what you can earn by keeping your money in an outside CD, savings account, or money market account. Some brokerages may also offer brokered CDs, another option if you're already investing with a broker and want to open a CD. An annuity is a type of fixed-income investment provided by financial institutions. You can buy an annuity and pay into it with monthly payments or a lump sum. Then, in the future, you receive fixed monthly payments. Annuities are insurance contracts that can guarantee income. While they are similar to a CD in that the income is guaranteed as long as you follow the rules of the contract, they are not as short-term as CDs may be. Annuities are most often used in retirement planning. CDs can also be used for retirement planning, but they are usually bought and held for terms of 6 months to 5 years, rather than an annuity which could be owned for 20 years, or something similar. There may also be different withdrawal rules and limits, as well as tax consequences with annuities. Treasury bills are debt obligations backed by the U.S. government. They usually have maturities of one year or less. That timing is similar to CDs with shorter terms, but Treasury Bills may not offer the same level of return on the investment. Rates are comparable, around the 5.00% to 5.50% mark as of the end of November 2023, but they can fluctuate daily. CD rates can also change daily. The thing with T-bills is that you buy them at a discount and when they mature, you receive the full amount back, plus a little more. For example, you might buy a $1,000 T-bill for $950. When the bill matures, you will get $1,000, or $50 more than what you paid for it. This increase of $50 is the interest you earn. CDs are a little less complicated, where you put in a set amount, and then receive a fixed interest rate when it matures. CD rates reached historic highs in 2023, while inflation cooled from its recent high of 9.1% in June 2022. In November 2023, inflation was down to 3.1%, while the top rate offered across all CDs was over 5.75%. CDs can help you combat inflation by paying you interest on your money, even though you may be paying more for goods and services. This will not always be the case, though. Interest rates are often increased to help combat high inflation. When inflation drops back to the standard 2% mark the Federal Reserve aims for each year, then interest rates may also drop back from their highs. The highest-paying CD right now offers a rate of 5.79% APY. That could change, though, as interest rates fluctuate daily and institutions can offer CDs with high interest rates for as long or as short of a time as they want. Banks and credit unions are both offering high CD rates right now. The best bank CD rates and the best credit union CD rates both are over 5.50%. There also are brokered CDs, such as Vanguard CDs, Charles Schwab CDs, and Fidelity CDs. The rates on these brokered CDs are around 5.00% APY. The Fed raised interest rates again in July 2023, but held them steady in September 2023 and again in November 2023. And while CD rates have continued to rise higher, what happens to rates further down the road, however, is a guessing game. It's too early to predict whether the Fed will raise rates again in 2023, or if the July increase is the last one of its historic kind. Shop for the top CD rates. After that, keep the funds invested for the CD's full term to avoid incurring an early withdrawal penalty that will reduce your earnings. Of course, unexpected things happen in life, and you may find yourself having no choice but to cash in a CD early. Because of that possibility, it's best to pay attention to the early withdrawal penalties of different CDs you're considering before you buy one. Another strategy is to spread your money across a few CDs instead of one. For example, instead of one $25,000 certificate, you could open five with $5,000 in each. That way if you do need to access some cash prematurely, you may only have to break one CD and can keep the other four intact. Additionally, you could open the five CDs at different places at different times, to try to capture rates that may be rising or from institutions that are offering limited-time promotional CDs. High interest CDs may be worth it if you want to a fixed interest rate and guaranteed returns on your money. In order to get the highest interest offered, you will need to lock up your money for a set period of time. You may also need to deposit a required minimum amount. High interest CDs can be a good part of an investment, saving, or retirement planning strategy. You typically won't see big names like Chase, American Express, or Bank of America in our rankings of the best-paying CDs. We do research their rates, but they don't make our list simply because they don't pay enough. Extremely large banks typically don't need to attract customers and deposits in the way that smaller institutions do, so they don't need to use rates as a way to win business. In fact, some of the biggest banks pay interest rates very close to zero, but it depends and can change from month to month. For example, in October 2023, Capital One offered a CD rate of 5.30% for a 1-year CD. Our rankings instead bring readers a carefully researched list, updated every day, of the very best rates that are available to anyone nationwide, most of which are provided by small to medium-sized banks, online banks, and credit unions. A CD with a minimum deposit requirement of $100,000 or more is usually considered a jumbo CD. While the required minimum deposit is higher than traditional CDs, the interest rates on jumbos are not always higher. That means you could earn a higher interest rate by depositing $100,000 in a traditional CD instead of a jumbo CD. Just shop around to learn which CD is best for your money and situation. Putting money into a CD right now may be a smart move if you're looking to earn a high interest rate on money you don't need. CD rates are over 5.00% for many terms right now, and locking up your money for six, 12, or even 24 months could help you in the long run if CD rates decline in the next year or two. We researched and reviewed over 250 banks, credit unions, and financial institutions to find the best CD rates you see above on this list. While we write individual reviews for most, we do not always write reviews for those we would not recommend. Below are the banks, credit unions, and financial institutions we researched along with links to individual company reviews to help you learn more before making a decision: 1st Source Bank, 5star Bank, ableBanking, Abound Credit Union, Achieva Credit Union, Affinity Federal Credit Union, Affinity Plus Federal Credit Union, Air Force Federal Credit Union, Alabama Credit Union, Allegacy Federal Credit Union, Alliant Credit Union, Ally Bank, Amerant Bank, American 1 Credit Union, American Express, American Heritage Credit Union, Andrews Federal Credit Union, Apple Federal Credit Union, Banco do Brasil Americas, Banesco USA, Bank of Baroda, Bank5 Connect, Bank7, Texas Capital Bank, bankESB (Easthampton Savings Bank), BankUnitedDirect, Barclays, BBVA Bank, Bellco Credit Union, Blue Federal Credit Union, BMO, BMO Alto, BrioDirect, Cadets Federal Credit Union, California Coast Credit Union, Capital One, Capitol Federal Savings Bank, CD Bank, CFG Bank, Chase Bank, Chevron Federal Credit Union, CIBC (Agility Banking), CIT Bank, Citibank, Citizens Access, Citizens Trust Bank, Colorado Federal Savings Bank, Bread Savings, Communitywide Federal Credit Union, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Corporate America Federal Credit Union (CAFCU), Credit Union of Denver, Credit Union of the Rockies, Digital, Federal Credit Union, Discover Bank, DollarSavingsDirect, Dover Federal Credit Union, Dow Credit Union, Evergreen Bank Group, RocklandTrust Bank, Elements Financial, EmigrantDirect.com, Liberty Federal Credit Union, Fidelity Investments, Financial Partners Credit Union, Financial Resources Federal Credit Union, First Financial Credit Union, First Financial Northwest Bank, First Internet Bank, First National Bank of America, First Technology Federal Credit Union, Fort Bragg Federal Credit Union, Garden Savings Federal Credit Union, Georgia Banking Company, Georgia's Own Credit Union, GreenState Credit Union, Greenwood Credit Union, Grow Financial Federal Credit Union, GTE Financial, Gulf Coast Bank & Trust Company, Hanscom Federal Credit Union, Heritage Bank, Hiway Federal Credit Union, Home Loan Investment Bank, Home Savings Bank, Hope Credit Union, HSBC Direct, Hughes Federal Credit Union, Hyperion Bank, Ideal Credit Union, iGObanking, Interior Federal Credit Union, Justice Federal Credit Union, Kinecta Federal Credit Union, KS State Bank, La Capitol Federal Credit Union, Lafayette Federal Credit Union, Lake Michigan Credit Union, Langley Federal Credit Union, Latino Community Credit Union, Limelight Bank, Live Oak Bank, Luther Burbank Savings, MYSB Direct, MAC Federal Credit Union, Main Street Bank, MainStreet Bank, MapleMark Bank, Marcus by Goldman Sachs, Market USA Federal Credit Union, Matadors Community Credit Union, MECU Credit Union, Merrick Bank, Michigan State University Federal Credit Union, Mills42 Federal Credit Union, Mountain America Credit Union, MTC Federal Credit Union, MutualOne Bank, My Banking Direct, My eBanc, My Savings Direct, NASA Federal Credit Union, Nationwide by Axos Bank, Navy Federal Credit Union, nbkc, NexBank, North Country Savings Bank, Northern Bank Direct, Northfield Bank, Northpointe Bank, Nuvision Federal Credit Union, Oklahoma Central Credit Union, One American Bank, OneUnited Bank, Pacific National Bank, Paramount Bank, PARDA Federal Credit Union, Partner Colorado Credit Union, Patelco Credit Union, Pen Air Federal Credit Union, PenFed Credit Union, People's Credit Union, First Service Credit Union, Pinnacle Federal Credit Union, Popular Direct, Premier America Credit Union, Presidential Bank, FSB, Prime Alliance Bank, PSECU (Pennsylvania State Employees Credit Union), Quontic Bank, Quorum Federal Credit Union, Rising Bank, Merrimack Valley Credit Union, Salal Credit Union, Sallie Mae Bank, Santa Clara County Federal Credit Union, Signature Federal Credit Union, Spectrum Credit Union, SRP Federal Credit Union, State Bank of India Chicago, State Bank of India New York, State Bank of Texas, State Department Federal Credit Union, Summit Credit Union, Sun East Federal Credit Union, Superior Choice Credit Union, Synchrony Bank, TAB Bank, Teachers Federal Credit Union, Technology Credit Union, The Federal Savings Bank, Third Federal Savings & Loan, EverBank, TotalDirectBank, Transportation Federal Credit Union, TruStone Financial Credit Union, UNIFY Financial Credit Union, Expedition Credit Union, United States Senate Federal Credit Union, United Texas Bank, University Federal Credit Union, US Bank, USAlliance Financial, USPS Federal Credit Union, Velocity Credit Union, VeraBank, Vio Bank, Virtual Bank, WebBank, Webster Bank, Wells Fargo, Western Vista Credit Union, Wings Financial Credit Union, XCEL Federal Credit Union, BankPurely, Umbrella Bank, giantbank.com, CapEd Credit Union, Zeal Credit Union, Finworth, Coastal1 Credit Union, Service Credit Union, National Cooperative Bank, Premier Members Credit Union, Bank of America, Flagstar Bank, 1st MidAmerica Credit Union, INOVA Federal Credit Union, Genisys Credit Union, Ivy Bank, Heartland Credit Union, Luana Savings Bank, Spectra Credit Union, Workers Credit Union, Credit Human, EFCU Financial, Poppy Bank, Credit One Bank, Vibrant Credit Union, CFBank, Department of Commerce Federal Credit Union, Seattle Bank, Crescent Bank, Pima Federal Credit Union, Cross River Bank, USAA, Great River Federal Credit Union, Brilliant Bank, Merchants Bank of Indiana, LendingClub, Chartway Credit Union, First Central Savings Bank, AgFed Credit Union, North American Savings Bank, Pelican State Credit Union, First Community Credit Union, Bask Bank, Skyla Credit Union, SkyOne Federal Credit Union, 3Rivers Federal Credit Union, Utah First Credit Union, Pasadena Federal Credit Union, Magnifi Financial, AloStar, Primis Bank, Farmers Insurance Federal Credit Union, Tampa Bay Federal Credit Union, Veridian Credit Union, Republic Bank, Salem Five Direct, All In Credit Union, Bethpage Federal Credit Union, Self-Help Federal Credit Union, Forbright Bank, Jovia Financial Credit Union, Sun Canyon Bank, Fortera Credit Union, Partners 1st Federal Credit Union, SouthEast Bank, American Bank, Newtek Bank, CBC Federal Credit Union, Vanguard, All America Bank, Amalgamated Bank, Citizens State Bank, AmBoy Direct, Republic Bank of Chicago, Oklahoma Community Credit Union, BluPeak Credit Union, Valley Direct, Bayer Heritage Federal Credit Union, First Harvest Credit Union, Orion Federal Credit Union, Wellby Financial, FedChoice Federal Credit Union, CoVantage Credit Union, Choice First Bank, Sandia Area Federal Credit Union, OMB Bank, Minnequa Works Credit Union, Securityplus Federal Credit Union, Bank of South Texas 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, read our full methodology. Article Sources Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. TotalDirectBank. "About Us." FDIC. "Climate First Bank." Climate First Bank. "Contact Us." Langley Federal Credit Union. "The Langley Story." Hyperion Bank. "Our History." Digital Federal Credit Union. "Our Story." U.S. Senate Federal Credit Union. "Our History." Farmers Insurance Federal Credit Union. "About Us." First National Bank of America. "About Us." Apple FCU. "About Us." Board of Governors of the Federal Reserve System. "Open Market Operations." Federal Reserve Board. "Federal Reserve Issues FOMC Statement, Dec. 13, 2023." Federal Reserve Board. "Economic Projections From the Dec. 12-13 FOMC Meeting." Federal Deposit Insurance Corporation. “Your Insured Deposits.” National Credit Union Administration. “Share Insurance Fund Overview.” IRS. "Topic No. 403, Interest Received." FDIC. "National Rates and Rate Caps." U.S. Department of Treasury, TreasuryDirect. “Treasury Bills.” U.S. Department of the Treasury. "Daily Treasury Bill Rates." Bureau of Labor Statistics. "Consumer Prices up 9.1 Percent Over the Year Ended June 2022, Largest Increase in 40 Years." Bureau of Labor Statistics. "Consumer Price Index - November 2023." Federal Reserve. "Press Release, June 14, 2023."In the News
BEST CD RATES DECEMBER 2023 Ranked by highest APY, then shortest term, then lowest minimum Best 3-Month CDs Rate Term Minimum TotalDirectBank 5.66% APY 3 months $25,000 BECU 5.60% APY 3–5 months $500 Signature Federal Credit Union 5.55% APY 3 months $500 For more options, see our in-depth 3-month CD rankings Best 6-Month CDs Rate Term Minimum Climate First Bank 5.79% APY 8 months $500 INOVA Federal Credit Union 5.75% APY 8 months $200 Air Force Federal Credit Union 5.70% APY 7 months $1,000 For more options, see our in-depth 6-month CD rankings Best 1-Year CDs Rate Term Minimum Langley Federal Credit Union 5.70% APY 14 months $500 CIBC Agility 5.66% APY 12 months $1,000 Northfield Bank 5.65% APY 11 months $2,500 For more options, see our in-depth 1-year CD rankings Best 18-Month CDs Rate Term Minimum Hyperion Bank 5.65% APY 15 months $2,500 DR Bank 5.60% APY 18 months $500 Expedition Credit Union 5.51% APY 15 months $2,500 For more options, see our in-depth 18-month CD rankings Best 2-Year CDs Rate Term Minimum Digital Federal Credit Union 5.39% APY 12–23 months $25,000 Hiway Federal Credit Union 5.30% APY 12–23 months $25,000 Chartway Credit Union 5.30% APY 23 months $500 For more options, see our in-depth 2-year CD rankings Best 3-Year CDs Rate Term Minimum U.S. Senate Federal Credit Union 5.23% APY 36 months $1,000 Lafayette Federal Credit Union 5.10% APY 36 months $500 DollarSavingsDirect 5.00% APY 36 months $1,000 For more options, see our in-depth 3-year CD rankings Best 4-Year CDs Rate Term Minimum Farmers Insurance Federal Credit Union 5.00% APY 48 months $1,000 First Harvest Credit Union 4.82% APY 48 months $1,000 U.S. Senate Federal Credit Union 4.81% APY 48 months $1,000 For more options, see our in-depth 4-year CD rankings Best 5-Year CDs Rate Term Minimum Farmers Insurance Federal Credit Union 5.00% APY 60 months $1,000 First Harvest Credit Union 4.89% APY 60 months $1,000 U.S. Senate Federal Credit Union 4.86% APY 60 months $1,000 For more options, see our in-depth 5-year CD rankings Best 6- to 9-Year CDs Rate Term Minimum First National Bank of America 4.60% APY 6 years $1,000 Department of Commerce Federal Credit Union 4.44% APY 5–7 years $25,000 OnPath Federal Credit Union 4.35% APY 6 years $1,000 Luana Savings Bank 4.09% APY 6 years $2,000 KS State Bank 4.06% APY 7 years $500 Best 10-Year CDs Rate Term Minimum Apple Federal Credit Union 4.00% APY 10 years $500 Credit Human 4.00% APY 10 years $500 Discover Bank 3.80% APY 10 years $2,500 For more options, see our in-depth 10-year CD rankings Why You Can Trust Our Expert Recommendations for the Best CD Rates
Best 3-Month CD Rate: TotalDirectBank – 5.66% APY
Best 6-Month CD Rate: Climate First Bank – 5.79% APY
Best 1-Year CD Rate: Langley Federal Credit Union – 5.70% APY
Best 18-Month CD Rate: Hyperion Bank – 5.65% APY
Best 2-Year CD Rate: Digital Federal Credit Union – 5.39% APY
Best 3-Year CD Rate: U.S. Senate Federal Credit Union – 5.23% APY
Best 4-Year CD Rate: Farmers Insurance Federal Credit Union – 5.00% APY
Best 5-Year CD Rate: Farmers Insurance Federal Credit Union – 5.00% APY
Best 6- to 9-Year CD Rate: First National Bank of America – 4.60% APY
Best 10-Year CD Rate: Apple Federal Credit Union – 4.00% APY
Note
What Is a CD Rate?
Historical CD Rates
Where Are CD Rates Headed in 2024?
How Does a CD Work?
How Much Does $10,000 Earn in a CD in One Year?
Fast Fact
Types of CDs
Note
Pros and Cons of CDs
What Are the Benefits of a CD?
What Are the Downsides of a CD?
Factors to Consider When Picking the Best CD for You
Christine DiGangi, Investopedia Product Reviews Team
Tip
What You Need to Open a CD
How To Build a CD Ladder
CDs and Taxes
Alternatives to CDs
CDs vs. Traditional Savings Accounts
CDs vs. High-Yield Savings Accounts
CDs vs. Money Market Accounts
Note
CDs vs. Bond Options
CDs vs. Brokerage Options
Note
CDs vs. Annuities
CDs vs. Treasury Bills
CD Rates vs. Inflation
Learn More About CDs
Frequently Asked Questions
What Is the Highest Paying CD Today?
Who Is Offering High CD Rates?
Are Higher CD Rates Coming?
How Can I Earn as Much as Possible With a CD?
Are High Interest CDs Worth It?
Why Don't I Recognize the Bank Names in Your Rankings?
What Is Considered a Jumbo CD?
Is It Worth Putting Money in a CD Right Now?
Financial Institutions We Reviewed
How We Find the Best CD Rates
Your Guide to CDs
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