The top nationwide CD rate is once again 5.75% APY today, available from both on a 7-month CD term and for 8 months. But one of the two runner-up certificates paying 5.70% came off the market today. The remaining 5.70% offer is available from for a 9-month CD.

Below you'll find featured rates available from our partners, followed by details from our complete ranking of the best CDs available nationwide.

CD rates have been edging downward since climbing to a historic peak of 6.50% in October. The softening is not unexpected as it looks like the Federal Reserve is finished raising interest rates—and that it could even begin reducing rates sometime this year. Still, while CDs may no longer be paying their peak rates, the returns you can lock in for years or months down the road are still very high.

For the past several months, we've counted the number of CDs paying at least 5.75% APY. On Nov. 3, the number surged to a historic peak of 18. But in January 2024, we're left with just two CDs paying a rate that high. Fortunately, another five options are offering at least 5.60%, with terms ranging from 3 to 15 months.

Though longer-term rates are lower, they can be a smart choice right now as we face the prospect of declining interest rates in 2024 and beyond. The top-paying 2-year certificate offers 5.39% APY, while you can secure 5.23% for a 3-year term. The best rates for 4-year and 5-year CDs are now below the 5% mark, but you can still lock in a long-lasting rate as high as 4.89% APY.

CD Terms	Yesterday's Top National Rate	Today's Top National Rate	Day's Change (percentage points)	Top Rate Provider
3 months	5.66% APY	5.66% APY	No change
6 months	5.75% APY	5.75% APY	No change	and
1 year	5.64% APY	5.64% APY	No change
18 months	5.65% APY	5.65% APY	No change
2 years	5.39% APY	5.39% APY	No change
3 years	5.23% APY	5.23% APY	No change
4 years	4.82% APY	4.82% APY	No change
5 years	4.89% APY	4.89% APY	No change

While the yields on these longer certificates are lower than certificates with shorter terms, securing one of these rates today means you'll be able to enjoy it until 2026—or even longer—when rates on other options will have likely fallen lower. For anyone with a jumbo-sized deposit, you can eke out a bit more with the leading rate on 3-year, 4-year, or 5-year jumbo CDs. But while the best jumbo CD rate is now 5.65% APY on 17 months, available from , you can earn that same rate with a standard 15-month CD.

CD Term	Today's Top National Bank Rate	Today's Top National Credit Union Rate	Today's Top National Jumbo Rate
3 months	5.66% APY*	5.55% APY	5.20% APY
6 months	5.75% APY*	5.75% APY*	5.60% APY
1 year	5.55% APY	5.64% APY*	5.61% APY
18 months	5.65% APY*	5.51% APY	5.65% APY*
2 years	5.25% APY	5.39% APY*	5.30% APY
3 years	5.00% APY	5.23% APY	5.28% APY*
4 years	4.65% APY	4.82% APY	4.86% APY*
5 years	4.65% APY	4.89% APY	4.92% APY*

Where Are CD Rates Headed This Year?

The Federal Reserve opted to hold rates steady at a 22-year high last month, the third meeting in a row it's done so. The Fed has been aggressively combating decades-high inflation since March 2022, raising the federal funds rate with fast and furious hikes that year and then more moderate increases in 2023.

This has created historically favorable conditions for CD shoppers, as well as for anyone holding cash in a high-yield savings or money market account.

Inflation has cooled significantly in recent months, including a mild drop in November. And though Chair Powell said the rate-setting committee is not taking the possibility of future rate hikes off the table, he also said in his press conference that Fed members have started to discuss lowering rates.

The Fed's Dec. 13 dot plot shows that, at that time, no members of the rate-setting committee predicted another rate increase in 2024. Instead, the median expectation was for three rate cuts in 2024, for a total drop of 0.75%.

However, the minutes released last week from the Fed's Dec. 13 meeting revealed that there is much uncertainty among Fed members on the right timing for lowering rates—and even if another rate hike will be needed before then. In addition, last Friday's hotter-than-expected jobs report may make it harder for the Fed to justify starting rate cuts. The Fed's next rate-setting meeting will conclude on Jan. 31.

The Fed's decisions on the federal funds rates have significant implications for CD shoppers and other savers, as banks and credit unions base their deposit rate decisions on the Fed's benchmark rate. As we always caution, trying to predict the Fed's future moves is an uncertain exercise. But for the time being, it seems CD rates are likely to continue inching down from their record peaks.

How We Find the Best CD Rates

Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs to customers nationwide and determines daily rankings of the top-paying certificates in every major term. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), and the CD's minimum initial deposit must not exceed $25,000.

Banks must be available in at least 40 states. 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.