We independently evaluate all of our recommendations. If you click on links we provide, we may receive compensation. The best month CD rate is 5. CD rates are near historic highs, with the top month CD rates ranging from 4. All CDs and rates in our rankings were collected, verified, and available to open as of March 7, To find you the best CD rates nationwide, we review CD rates from hundreds of banks and credit unions every weekday morning.
We've been tracking month CD rates since , and the top CD rates in our rankings typically pay three to five times as much as the national average—or even more. Below are the top CD rates available from our partners, followed by the best month CD rates we've found from our research that are available to U. CD terms of 15 to 20 months are eligible for our month rankings. 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.
If there is still a tie, we rank alphabetically by institution name. The Fed held rates steady at its Jan. Since September, the federal funds rate has been lowered by a full percentage point to a range of 4. Committee members indicated in December that they expect a slower pace for rate cuts in , and January's decision supports that approach. CD rates closely follow the fed funds rate, which means CD rates are expected to come down as the Fed lowers rates.
The annual percentage yield APY is the interest rate earned on an investment in one year, including compounding interest. A higher APY is better as your return will be higher. Detailed information on these top-paying nationally available month CDs is provided below, including specifics about minimum deposits and early withdrawal penalties. For credit union CDs, information is also provided on how to easily join the credit unions offering them.
Investopedia collects thousands of CD rates from hundreds of banks and credit unions every weekday. When ranking CD rates , we look at factors like term, early withdrawal penalty, and minimum opening deposit.
