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

A new 6-month CD from USAlliance Financial is offering the top nationwide rate of 5.75% APY with just a $500 minimum deposit.
The number of CDs paying 5.50% APY or more continues to climb, now at 57 nationally available offers.
Jumbo CD rates allow larger deposits to earn up to 5.85% APY on a 6-month CD.
Yesterday saw the end of the first 6.00% APY CD available since the Fed began raising rates.
The Fed is expected to hold rates steady at its September meeting, but may hike again in November or December.

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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%.

9/8/2023

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.

9/15/2023

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.

9/29/2023

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.

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Posted 9/13/2023, 10:11:33 PM