KEY TAKEAWAYS
- Newtek Bank is still the national leader for standard CDs, offering 5.55% APY for a 6-month term.
- Several other institutions offer yields above 5.00%, including 5.42% from TotalDirectBank (3-month term), 5.40% from Apple Federal Credit Union (12-month term), and 5.35% from Fortera Credit Union (18-month term).
- For some time now, the best jumbo CD has been 5.65% APY for a 17-month term, offered by Hughes Federal Credit Union; the minimum deposit is $99,000.
- Five days ago, the Federal Reserve announced its fifth consecutive interest-rate hold as it waits for inflation to get more firmly under control.
- The best CD rates have generally been inching lower for the past few months. But they’ll likely start falling faster once the Fed appears ready to make a rate cut.
Below you’ll find featured rates available from our partners, followed by details from our ranking of the best CDs available nationwide.
MARCUS BY GOLDMAN SACHS14 months CDFDIC Insured
DISCOVER®12 months CDFDIC Insured
BARCLAYS6 months CDFDIC Insured
US BANK7 months CDFDIC InsuredDISCOVER®5 years CDFDIC InsuredLeading CD Rates Haven’t Budged for Several Days
The leading rates on standard 3-month to 5-year CDs haven’t changed since last Friday. The highest APY is still 5.55%, offered by Newtek Bank for a 6-month term. It requires a minimum deposit of $2,500. The second-best rate is 5.42%, for a 3-month term from TotalDirectBank.
The best short-term CDs are currently better than the best long-term CDs, as you can see from the chart below, but you can still lock in a decent rate for several years. You can get a 3-year CD at 5.00% APY from either DollarSavingsDirect or Transportation Federal Credit Union; each requires a $1,000 minimum deposit. Pelican State Credit Union still offers the best 4-year CD at 4.80%. Its minimum deposit is just $500, so it may be more attainable than some CDs with better rates.
You’ll find all of the banks mentioned above in our daily ranking of the best nationwide CDs.
