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Top CD Rates Today: One 6% Leader and Four Runners-Up Paying 5.75%

  • The top CD rate remains 6.00% APY on a 1-year term, with four other top contenders at 5.75% APY.

  • There are now 46 CDs nationwide paying at least 5.50% APY, up from 30 just two weeks ago.

  • The best 3-year CD rate available is 5.23% APY.

  • The Fed is expected to hold rates steady at its next meeting but may hike again in November.

  • Jumbo CD rates over $100k deposit can earn slightly higher returns in some terms.

investopedia.com
Relevant topic timeline:
Top CDs Today: 30 Options Now Offer a Top-Tier Rate
The number of CD options paying 5.50% or more has increased to 30, double the number available at the beginning of August, with the highest rate being 5.85% APY on a jumbo certificate.
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%.
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.
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.
Top CD Rates Stay High as Fed Weighs More Rate Hikes
Investopedia has raised the bar for their elite nationwide CD rate to 5.65% APY, with 15 CDs in their ranking currently meeting the new threshold, while the highest APY for jumbo CDs is 5.85% for a 6-month certificate with a $100,000 deposit.
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%.
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.
CD Rates Rise to Record Highs in Some Terms But Future Outlook Uncertain as Rate Hikes Slow
The FDIC's latest release of national averages shows that while CD rates have been on a meteoric rise for the past 18 months, the climb may be slowing, with some terms experiencing slight declines while others continue to rise.
CD Rates Continue Climbing Higher as Fed Hints at More Rate Hikes This Year
Credit Human has increased the rate on its nationally available certificate to a record-breaking 6.00% APY for a term of 12 to 17 months, while the leading rate for a nationally available 3-year CD rose to 5.25% APY.
Top APYs Make 1-Year CDs an Appealing Option for Growing Savings
Summary: Putting $5,000 into a 1-year CD account can be a wise financial move due to high interest rates, safety, predictability, and minimal effort required, although individual financial goals and risk tolerance should be considered before making the decision.