If rates rise, you'll be locked at a lower rate until maturity

If rates fall, you may wish you'd opted for a longer term

Quorum Federal Credit Union – 5.50% APY.

If there is still a tie, we then rank alphabetically by institution name. Where more than one institution pays the same top rate, our rankings prioritize CDs by the shortest term, then the CD requiring the smallest minimum deposit. The minimum deposit can be no more than $25,000, and only institutions that are federally insured (by the Federal Deposit Insurance Corporation for banks or the National Credit Union Administration for credit unions) are eligible for our list. CD rates closely follow the fed funds rate, so if the Fed implements a further increase, that could nudge CD rates higher still.īased on daily rate monitoring of about 200 banks and credit unions that offer nationwide certificates, we continuously rank the highest-paying CDs that have an approximately 18-month term (this includes maturities ranging from 15 to 20 months). 1-after 11 hikes in the previous 12 meetings-it has indicated that an additional increase is still on the table. Though the Fed held its benchmark rate steady for a second consecutive meeting on Nov.

Today’s CD rates are higher than we’ve seen in more than 20 years, pushed up by the Federal Reserve’s rate-hike campaign that began in March 2022 to tame decades-high inflation.

Cd interest rates today