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Posted 9/8/2023, 10:18:20 PM

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

A new 18-month CD from First Harvest Credit Union now offers the top rate of 5.75% APY, available for 15 months.
The highest nationally available 1-year CD rate remains 6.00% APY from American 1 Credit Union.
There are now 47 CDs paying at least 5.50% APY, up from 41 just a week ago.
Top rates for longer terms are 5.23% APY for 3 years and 4.81% APY for 4 years.
The Fed is expected to hold rates steady at its September meeting, but may hike again in November if inflation remains high.

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Relevant topic timeline:

8/23/2023

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.

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

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%.

9/13/2023

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.

9/29/2023

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.

10/4/2023

Top CD Rates Remain High While Markets Await Fed's Next Move

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.