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 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.
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.
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.
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.
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%.
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.
INOVA Federal Credit Union and Credit Human are both offering a nation-leading CD rate of 6.00% APY for terms ranging from 9 to 17 months, while some lucky CD shoppers can even earn 6.25% APY with a regional offer available in five states.
You can still earn a record 6.00% APY with a CD ranging from nine to 17 months, as well as have 10 additional opportunities to earn at least 5.75% APY, despite the quiet CD rate movement today.
Financial Partners Credit Union is offering a new CD with a top rate of 6.50% for an eight-month term, the highest rate among all tracked CDs, but with a $5,000 maximum deposit.
Despite typically short lifespans, an unusually high-yield promotional CD from Financial Partners Credit Union offering a 6.50% APY is still available after four days, with a maximum deposit limit of $5,000 and an 8-month term.
Seattle Bank has entered the high-paying CD market with an 18-month CD offering a 5.80% APY, making it the longest duration CD with a yield of at least 5.75% APY.
Financial Partners Credit Union is currently offering a market-leading rate of 6.50% APY on an 8-month certificate of deposit, while Credit Human's pick-your-term option allows for a locked-in rate of 6.00% APY for 12 to 17 months.
CD rates are currently at record highs, allowing consumers to earn up to 6.50% APY on nationwide CDs, with options for longer-term deposits or jumbo deposits offering even higher rates.
Financial Partners Credit Union offers a high-yield CD with a 6.50% APY on an 8-month term but limited to a maximum deposit of $5,000, while Credit Human and Sandia Area Federal Credit Union provide a 6.00% APY on longer terms for larger deposits.
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