Key Takeaways
- Today’s best CDs still offer guaranteed rates of 4.50% to 4.60% on terms up to 12 months.
- You can also lock in returns in the lower-4% range for as long as 5 years.
- That’s especially valuable now, with the Fed expected to cut rates this week—which will push savings and CD yields lower.
- Attractive CD offers can evaporate overnight, so if one fits your goals, the smart move is to act today.
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CDs Paying 4.5% and More Are Still on the Table
Some banks and credit unions are still offering certificates of deposit (CDs) with rates of 4.50% or higher, including a top rate of 4.60% APY. Unlike savings or money market accounts, where your Annual Percentage Yield (APY) can drop at any time, CDs lock in your rate for the full term, whether it’s a few months or several years.
Right now, the four highest-paying nationally available CDs pay between 4.50% and 4.60%:
- Connexus Credit Union: 4.60% APY, 7-month term
- Climate First Bank: 4.54% APY, 8-month term
- ableBanking: 4.50% APY, 6-month term
- HUSTL Digital Credit Union: 4.50% APY, 12-month term
Full details on these four options, plus almost a dozen more top offers, can be found in our daily ranking of the best nationwide CDs.
While the leading rates above are tied to relatively short terms, there are also excellent mid- and long-term options. Top offers of 4.28% to 4.30% are available from 18 months through 5 years, letting you lock in a return above 4% until 2027, 2028, or even 2030.
But wait a day too long, and these top rates could vanish. If a CD fits your goals, it’s smart to act now, especially with the Fed set to meet this week.
Why This Week’s Fed Meeting Matters for CD Rates
The Federal Reserve is widely expected to deliver its first 2025 rate cut on Wednesday, with more likely later this year. Lower rates usually mean lower yields on savings, money markets, and CDs. You can’t protect even a high-yield savings account from falling rates, but CDs let you lock in today’s top APYs for months or even years.
This week’s Fed meeting will likely send the best CD rates lower. That makes today the smarter time to act. Even tomorrow could leave you with less attractive offers.
Today’s Great Rates Could Be Gone Tomorrow
If you’re considering a CD, don’t wait too long. Banks and credit unions can change rates overnight. And in today’s declining-rate environment, that usually means worse news, not better.
No one can predict when a rate will vanish, or if a surprise deal will pop up. But the overall CD rate trend is decidedly down. With the Fed’s decision and quarterly dot plot forecast coming this week, the pace of disappearing CD deals will likely accelerate.
So don’t delay if a CD fits your financial goals. It’s smart to act today, not tomorrow.
Tip on Securing Today’s Rate
Not every bank or credit union requires immediate funding to lock in today’s CD rate. Many will honor the APY available when you apply, as long as your funds arrive within a few days. Policies vary, so confirm with the institution before you assume your rate is secured.
Daily Rankings of the Best CDs and Savings Accounts
We update these rankings every business day to give you the best deposit rates available:
Important
Note that the top rates quoted here are the highest nationally-available rates Investopedia has identified in our daily rate research on hundreds of banks and credit unions. This is much different than the national average, which includes all banks offering a CD with that term, including many large banks that pay a pittance in interest. Thus, the national averages are always quite low, while the top rates you can unearth by shopping around are often 5, 10, or even 15 times higher.
How We Find the Best Savings and CD Rates
Every business day, Investopedia tracks the rate data of about 200 banks and credit unions that offer CDs and savings accounts to customers nationwide and determines daily rankings of the top-paying accounts. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), and the account’s minimum initial deposit must not exceed $25,000. It also cannot specify a maximum deposit amount that’s below $5,000.
Banks must be available in at least 40 states to qualify as nationally available. And while some credit unions require you to donate to a specific charity or association to become a member if you don’t meet other eligibility criteria (e.g., you don’t live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, read our full methodology.