Two banks and one nationwide credit union are paying today’s top CD rate of 5.50%, on terms of 6 to 9 months.
To lock your rate for a full year, consider NexBank’s 5.35% offer. After that, five additional CDs pay 5.30% on terms of 10 to 13 months.
With the Fed expected to cut interest rates next month, longer-term CDs are smart right now. For instance, you can lock in 5.35% for 1 year, 5.15% for 2 years, or 5.00% for 3 years.
Those who can stretch further might like to secure an upper-4% return that’s guaranteed as long as 2029.
CD rates will likely keep sliding in anticipation of multiple Fed rate cuts.
Below you’ll find featured rates available from our partners, followed by details from our ranking of the best CDs available nationwide.
Today’s Top Rate Is 5.50%—But With a Short Guarantee
The top nationwide CD rate of 5.50% APY is available from three different institutions. DR Bank is paying that tip-top rate for 6 months, while Presidential Bank offers a 7-month term, and Vibrant Credit Union, a 9-month term.
The country’s best CD rates are all on certificates with shorter terms. After the three leading offers above, 17 more CDs pay 5.30% to 5.40% on terms up to 15 months. Among them is the top-paying 1-year CD, available from NexBank for 5.35% APY.
If you can save a little longer than a year, Jovia Financial Credit Union is paying 5.30% for 15 months, which would secure your rate past Halloween 2025. Or maybe you’d prefer a rate lock until 2026, which you can get from American 1 Credit Union’s 18-month certificate paying 5.25%.
If you’re able to commit cash to a CD for longer, you can guarantee a rate of 5.15% for 2 years, also from American 1 Credit Union. Or you can lock in 5.00% until 2027—either with Vibrant Credit Union for 30 months or American 1 Credit Union for 36 months.
The best 4-year CD rate is 4.60%. You can score that rate from three different institutions: Credit Human, Department of Commerce Federal Credit Union, and American 1 Credit Union. Or maybe you’d like to stretch a rate guarantee a full five years. Grow Financial Credit Union is the leader there, offering a rate lock of 4.75% until 2029.
Despite paying less than shorter-term CDs, it could be smart to lock in an attractive multi-year rate before the Fed makes its first rate cut. Not only that, but CD rates could keep sliding as it’s possible the Fed will lower rates for the coming 2–3 years. Opening a CD now will lock in today’s rate for the entire term—allowing you to enjoy a high APY for years into the future, despite falling rates.
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