After holding for three-plus weeks at 5.75%, the top nationwide CD rate bolted higher today, to a new record of 5.90% APY. But there’s more. If you’re looking to lock in a stellar rate for as long as possible you’ll be happy to hear that today’s new leader is available for a full two years. The previous top rate on a 2-year CD was just 5.30% APY.
The 5.90% APY market leader is nationally available from Pelican State Credit Union for a 24-month term. The previous leading rate of 5.75% APY had been offered on an assortment of CDs ranging from 9 months to 15 months.
Key Takeaways
- A new CD took the overall crown today in our daily ranking of the best CD rates, offering 5.90% APY on a 2-year term. For weeks, the leading nationwide rate had been 5.75% APY and on much shorter terms.
- The number of “Benchmark Leader” CDs, which pay at least 5.50% APY, jumped by three new options today, boosting the count to 25 from 22.
- The top rate you can earn on 1-year CDs and 2-year CDs both increased today, while the leading rate in the 6-month term declined.
- The longest duration on which you can earn at least 5.00% remains three years, with a rate of 5.13% APY, or four years at 5.12% APY if you have a jumbo-sized deposit.
- The Federal Reserve’s next rate-setting meeting isn’t for more than five weeks, and it’s uncertain whether the central bank will nudge interest rates still higher this year, or opt to hold them steady.
To help you earn as much as possible, here are the top CD rates available from our partners, followed by more information on the best-paying CDs that are available to U.S. customers everywhere.
Four new certificates entered the market today paying one of our “Benchmark Leader” rates of 5.50% APY or better, while another one—yesterday’s overall rate leader paying 5.75% on 9 months—was retired. But you can still score 5.75% APY on a 1-year certificate with one of today’s new contenders.
If you want to lock in one of today’s record rates for longer than two years, you have a couple of longer-term options offering at least 5.00%. You can score 5.13% APY with the leader in our best 3-year CDs ranking, or if you have at least $100,000 to deposit in a jumbo CD, you can stretch that to four years for a similar rate of 5.12% APY.
Source: https://www.investopedia.com/top-cds-today-new-high-rate-options-join-the-ranks-including-a-5-65-jumbo-cd-7643230?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral&yptr=yahoo