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.
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%.
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.
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.
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.
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.
Savers can take advantage of high interest rates by opening a CD account, with the possibility of earning over $100 on a $5,000 deposit in six months, but it's important to shop around for the best rates and terms.
If you're looking for guaranteed returns on your savings, short-term certificates of deposit (CDs) with high annual percentage yields (APYs) are currently offering some of the highest rates available.
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.
Financial Partners Credit Union is offering a record-high APY of 6.50% on an 8-month certificate with a maximum deposit of $5,000, while Credit Human is offering 6.00% APY on longer terms of 12 to 17 months for larger deposits, according to Investopedia's daily ranking of the best nationwide CDs.
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.
Fidelity CD rates are significantly higher than average, with terms ranging from three months to five years and APYs from 4.95% to 5.50%.
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.
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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