Topics

Posted 9/6/2023, 8:19:10 PM

Top CD Rates Today: 45 Ways to Earn 5.50% or More on Terms up to 2 Years

The number of CDs paying 5.50% APY or more dipped to 45 today, down from 30 just two weeks ago.
The top nationwide 1-year CD rate remains 6.00% APY, the first time a CD has reached that threshold since the Fed began raising rates.
A 3-year CD currently offers the best rate for a longer term at 5.23% APY.
The Fed is expected to hold rates steady at its September meeting, but a November increase is about 50/50 odds.
Jumbo CD rates don't always beat standard CD rates, so shop both when comparing options.

investopedia.com

Relevant topic timeline:

8/25/2023

Top CD Rates Today: Seven CDs Join the 5.50% Club, Including a New 5.75% Option

Investopedia's daily ranking of the best CD rates now includes seven more options paying at least 5.50% APY, bringing the total number of certificates in that tier to 37, which is more than double the number from when August began, and a new contender is offering the highest nationwide rate of 5.75%.

8/29/2023

Top CDs Today: A New 5.50% Option, Plus Mini Jumbos With a Top Rate

CD shoppers can take advantage of high APY rates, with options ranging from 5.50% to 5.85% for standard and jumbo CDs, and there is a possibility that CD rates could go even higher this year if the Federal Reserve raises its benchmark interest rate.

8/31/2023

Top CDs Today: New Leading Rate on 18-Month CDs

Alabama Credit Union now offers the best 18-month CD rate of 5.66% APY, surpassing the previous top rate of 5.55% APY, as the overall leading rate for the best nationwide CDs reached 6.00% APY.

9/4/2023

3 reasons I pulled my money out of stocks and put it into a high-yield CD

Summary: The author reflects on their poor experience trading stocks during the pandemic and highlights three reasons why they are happier with their decision to invest in CDs with a 5% APY.

9/4/2023

CD and Savings Account Rates Today

Banks and credit unions are competing for customer dollars in the current high-rate environment, offering high-yield savings accounts and CDs with attractive rates, such as CloudBank 24/7 High Yield Savings Account with an APY of 5.26% and Western Alliance Bank 1 Year CD with an APY of 5.51%.

9/8/2023

Top CD Rates Climb Above 5.75% as More Banks Raise Yields

First Harvest Credit Union has taken the top spot for 18-month CDs, offering a rate of 5.75% APY for a 15-month term, while American 1 Credit Union continues to offer the leading nationwide rate of 6.00% APY for 12 months.

9/13/2023

Top CD Rates Climb to 5.75% as Competition Heats Up Among Banks

USAlliance Financial is now offering a 6-month CD with a competitive rate of 5.75% APY, joining five other CDs with the same rate, but with different durations ranging from nine to 15 months.

9/15/2023

Top CD Rates Hold Steady Around 5.75% APY Ahead of Expected Fed Rate Hikes This Fall

Despite a six-way tie for the leading rate on nationally available CDs at 5.75% APY, the number of options in the elite group has grown to 16, with the addition of a new 12-month CD from CFG Bank, while the probability of a Fed rate hike in November or December is estimated to be 30-40%.

9/18/2023

Top CD Rates Rise Slightly as Fed Holds Steady, With More Hikes Expected Soon

The Federal Savings Bank now offers a 5.80% APY on a 1-year certificate, surpassing the previous industry-leading rate of 5.75% APY, while the top rate for 2-year CDs has decreased from 5.55% to 5.50% APY.

9/21/2023

CD Rates Climb Higher, Topping Out at 5.85% APY as Fed Holds Steady

Despite the Federal Reserve's decision to maintain interest rates, banks and credit unions are still increasing the rates offered on certificates of deposit (CDs), with the number of nationally available CDs offering rates of 5.65% or higher rising from 15 to 21 in just one week.

Topics

Posted 9/6/2023, 8:19:10 PM

Top CD Rates Today: 45 Ways to Earn 5.50% or More on Terms up to 2 Years

The number of CDs paying 5.50% APY or more dipped to 45 today, down from 30 just two weeks ago.
The top nationwide 1-year CD rate remains 6.00% APY, the first time a CD has reached that threshold since the Fed began raising rates.
A 3-year CD currently offers the best rate for a longer term at 5.23% APY.
The Fed is expected to hold rates steady at its September meeting, but a November increase is about 50/50 odds.
Jumbo CD rates don't always beat standard CD rates, so shop both when comparing options.

investopedia.com

Relevant topic timeline:

8/25/2023

Top CD Rates Today: Seven CDs Join the 5.50% Club, Including a New 5.75% Option

8/29/2023

Top CDs Today: A New 5.50% Option, Plus Mini Jumbos With a Top Rate

8/31/2023

Top CDs Today: New Leading Rate on 18-Month CDs

Alabama Credit Union now offers the best 18-month CD rate of 5.66% APY, surpassing the previous top rate of 5.55% APY, as the overall leading rate for the best nationwide CDs reached 6.00% APY.

9/4/2023

3 reasons I pulled my money out of stocks and put it into a high-yield CD

Summary: The author reflects on their poor experience trading stocks during the pandemic and highlights three reasons why they are happier with their decision to invest in CDs with a 5% APY.

9/4/2023

CD and Savings Account Rates Today

9/8/2023

Top CD Rates Climb Above 5.75% as More Banks Raise Yields

9/13/2023

Top CD Rates Climb to 5.75% as Competition Heats Up Among Banks

USAlliance Financial is now offering a 6-month CD with a competitive rate of 5.75% APY, joining five other CDs with the same rate, but with different durations ranging from nine to 15 months.

9/15/2023

Top CD Rates Hold Steady Around 5.75% APY Ahead of Expected Fed Rate Hikes This Fall

9/18/2023

Top CD Rates Rise Slightly as Fed Holds Steady, With More Hikes Expected Soon

9/21/2023

CD Rates Climb Higher, Topping Out at 5.85% APY as Fed Holds Steady