Here are today's best CD rates available nationwide, followed by featured CDs from our partners.

CD Terms	Yesterday's Top National Rate	Today's Top National Rate	Day's Change (percentage points)	Top Rate Provider
3 months	5.42% APY	5.42% APY	No change
6 months	5.75% APY	5.75% APY	No change
1 year	5.50% APY	5.50% APY	No change
18 months	5.35% APY	5.35% APY	No change
	5.27% APY	5.27% APY	No change
3 years	5.00% APY	5.00% APY	No change
	4.60% APY	4.60% APY	No change
5 years	4.60% APY	4.60% APY	No change

CDs Are Still Paying Historically High Rates

Certificate of deposit (CD) rates have softened since climbing to a record high of 6.50% in October, with the number of CDs in our daily ranking that pay a least 5.50% APY now down to 10. At the start of February, the count was 30.

Still, the top yield in each term held its ground today—including the reigning rate champion, Andrews Federal Credit Union. Its 5.75% APY offer for 6 months has been available for almost six weeks.

If you'd like to stretch your rate guarantee further into the future, you can earn up to 5.50% for a year, 5.35% for 18 months, or 5.27% APY as long as 2 years. You can even score a rate of 5.00% APY on 30 to 36 months. Beyond that, the 4-year and 5-year CD terms offer top rates in the mid-4% range.

While rates have been gradually sliding since November, don't lose sight of how high CD returns still are relative to the past 20 years. Also keep in mind that snagging the highest APY isn't the only way to win with today's CDs. Since CD rates could fall much further in 2024 and 2025, locking in a rate soon that's guaranteed for a year or more down the road could be a smart move.

Today's Top Bank, Credit Union, and Jumbo CD Rates

Though our rate leaders in each term held steady, we did see some decline in today's top bank rates. The leading bank offer in the 18-month term fell from 5.13% to 5.08% APY, while the top 2-year rate from a bank dipped to 4.91%, from the previous 5.00% APY.

Meanwhile, the best jumbo CD rate remains 5.65% APY on a 17-month term, available from Hughes Federal Credit Union. As always, beware that the best jumbo CD rates don't always pay more than standard certificates. Often, you can do just as well—or better—with a standard CD. That's the case right now in five of the eight terms below, so it's always wise to shop both certificate types before making a final decision.

CD Term	Today's Top National Bank Rate	Today's Top National Credit Union Rate	Today's Top National Jumbo Rate
3 months	5.42% APY*	5.30% APY	5.20% APY
6 months	5.55% APY	5.75% APY*	5.51% APY
1 year	5.50% APY	5.43% APY	5.51% APY*
18 months	5.08% APY	5.35% APY	5.65% APY*
2 years	4.91% APY	5.27% APY*	5.10% APY
3 years	5.00% APY	5.00% APY	5.10% APY*
4 years	4.60% APY*	4.60% APY*	4.60% APY*
5 years	4.60% APY*	4.60% APY*	4.60% APY*

Where Are CD Rates Headed in 2024?

The Federal Reserve announced at its Jan. 31 meeting that it is maintaining rates at their current level, the fourth meeting in a row it's done so. To combat decades-high inflation, the Fed had aggressively hiked interest rates between March 2022 and July 2023, raising the federal funds rate to its highest level in 22 years.

This in turn created historically favorable conditions for CD shoppers, as well as for anyone holding cash in a high-yield savings or money market account. Rates on CDs continued rising to a peak this fall, reaching their highest levels in two decades.

But inflation has been cooling, putting the Fed in a holding pattern since July. The central bank also signaled after its January meeting that it was most likely finished with its rate-hike campaign. This means we've entered a new phase, where the Fed committee is focused on deciding the right timing to pull the trigger on a first rate cut.

Financial markets are currently forecasting more than one rate cut in 2024, according to the CME Group's FedWatch Tool, with a majority of traders believing the first cut will arrive by June. But what markets predict and what the Fed ultimately does may or may not align.

Indeed, Fed Chair Jerome Powell testified to Congress Wednesday and indicated the rate-setting committee still thinks it's likely they will cut their benchmark rate this year. But his remarks also conveyed caution that predictions at this time are merely best guesses.

"The economic outlook is uncertain, and ongoing progress toward our 2% objective for inflation is not assured," Powell said in his prepared comments. "Reducing policy restraint too soon or too much could result in a reversal of progress we have seen."

Economic data released since the Fed's meeting aren't helping the case for the case for prompt rate cuts. Last week, the Fed's preferred inflation metric showed an acceleration from the previous month. And a Fed board member speaking last Friday conveyed his less certain outlook about making a rate cut in 2024. When asked if the Fed would still cut rates this year, he responded, "We'll see."

What this means for CD rates is that they're likely to drift slightly lower, or perhaps plateau, until it appears the Fed is ready to make its first cut. If at some point that seems to be in the cards, banks and credit unions will likely begin lowering rates more substantially.

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.