Top CD Rates Today, Nov. 4, 2024 - APYs Are Dropping, but 12 Offers Lock In 5.00% or More

Investopedia11-05 06:37

Key Takeaways The best CD rates held across all terms today, with 12 certificates paying at least 5.00%—including a 5.00% offer from Apple Federal Credit Union that's guaranteed until next November. ...

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That would let you lock in your rate until mid-2025.A CD's rate can't be changed during its term, letting you enjoy the high APY for months or even years into the future. Savings account rates, on the other hand, can decline anytime.The Fed meets later this week and is likely to cut the federal funds rate by an additional 25 basis points.Rates on savings accounts and CDs are expected to slide this year and next. So act fast to grab one of today's best CD rates while you can.Below you'll find featured rates available from our partners, followed by details from our ranking of the best CDs available nationwide.","collect":0,"end_time":0,"defaultTopTitle":"investopedia.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4116":"互联网服务与基础架构","CD":"秦淮数据"},"translate_title":"今日最高CD利率，2024年11月4日–APY正在下降，但12个报价锁定5.00%或更高","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CD":1,"US10Y.BOND":0.9,"US12M.BOND":0.9,"US2Y.BOND":0.9,"US30Y.BOND":0.9,"US3Y.BOND":0.9,"US5Y.BOND":0.9,"US6M.BOND":0.9,"US7Y.BOND":0.9,"US912797HE00.BOND":0.6},"content_text":"Key Takeaways\n\nThe best CD rates held across all terms today, with 12 certificates paying at least 5.00%—including a 5.00% offer from Apple Federal Credit Union that's guaranteed until next November.\nThe top nationwide rate of 5.50% remains available from Nuvision Credit Union for an 8-month term. That would let you lock in your rate until mid-2025.\nA CD's rate can't be changed during its term, letting you enjoy the high APY for months or even years into the future. Savings account rates, on the other hand, can decline anytime.\nThe Fed meets later this week and is likely to cut the federal funds rate by an additional 25 basis points.\nRates on savings accounts and CDs are expected to slide this year and next. So act fast to grab one of today's best CD rates while you can.\n\n Below you'll find featured rates available from our partners, followed by details from our ranking of the best CDs available nationwide.\n\n\n\n\n\n  Lock In 5.50% Until the Summer—Or 5.00% Until November 2025  \n The best CD rates held steady today. In general, CD rates have been slowly declining since the Federal Reserve cut its benchmark interest rate last month. But you can still grab the 5.50% leading offer for an 8-month guarantee from Nuvision Credit Union—provided you don't mind a maximum deposit limit of $5,000.\n\n\n If you're looking to sock away more than $5,000, a runner-up CD may be a better choice for you. Newtek Bank is offering 5.25% on a 6-month guarantee, which would lock in your rate until May. Or, you might prefer Apple Federal Credit Union's 12-month CD, paying 5.00%. Opening Apple's CD today would guarantee a 5% return until November next year.\n\n\n \n\n\n\n\n\n\n\n\nCD Terms\nFriday's Top National Rate\nToday's Top National Rate\nDay's Change (percentage points)\nTop Rate Provider\n\n\n3 months\n5.00%\n5.00%\nNo change\nThree institutions\n\n\n6 months\n5.50%\n5.50%\nNo change\nNuvision Credit Union\n\n\n1 year\n5.00%\n5.00%\nNo change\nApple Federal Credit Union\n\n\n18 months\n4.65%\n4.65%\nNo change\nFedChoice Federal Credit Union\n\n\n2 years\n4.29%\n4.29%\nNo change\nFirst National Bank of America\n\n\n3 years\n4.10%\n4.10%\nNo change\nCustomers Bank and Heartland Credit Union\n\n\n4 years\n4.09%\n4.09%\nNo change\nNASA Federal Credit Union\n\n\n5 years\n4.00%\n4.00%\nNo change\nEight institutions\n\n\n\nTo view the top 15–20 nationwide rates in any term, click on the desired term length in the left column above.\n\n  Longer-Term CDs Extend Their Rate Guarantee  \n The top APY on a 2-year certificate remains 4.29%. That's available from First National Bank of America. Meanwhile, the 3-year term also held at a 4.10% leading rate from either Customers Bank or Heartland Credit Union.\n\n\n Want to extend your rate further, going as far as late 2028 or 2029? The 4-year rate leader is NASA Federal Credit Union, paying 4.09%. Or you can lock in 4.00% for 5 years with one of eight institutions offering that guarantee.\n\n\n Multi-year CDs are smart right now, as it's expected the Fed will further reduce the federal funds rate—which will in turn push CD rates lower. Additional Fed cuts could occur this year and next, and possibly even in 2026. But any CD rate you secure now will be yours to enjoy until it matures.\n\n\n\n\n  Today's Best CDs Still Promise Remarkable Returns  \n It's true that CD rates are no longer at their peak. But despite the pullback, they're still paying historically high returns. Last October saw the best CD rates push above 6%, while today the leading rate is down to 5.50%. Still, 12 banks and credit unions continue to offer rates of 5.00% or better.\n\n\n Compare that to early 2022, before the Federal Reserve embarked on its fast-and-furious rate-hike campaign. The most you could earn from the very best CDs in the country ranged from just 0.50% to 1.70% APY, depending on the term.\n\n\n\n\n  Jumbo CDs Pay the Highest Rate in 2 Terms  \n Jumbo CDs require much larger deposits, but they don't always offer higher rates. Right now, the best jumbo CDs lead in just two of the eight terms we track.\n\n\n\nIn the 2-year term, you can earn a higher 4.35% with a jumbo CD from either Veridian Credit Union or Quorum Federal Credit Union than you can with the top standard rate of 4.29%.\nHeartland Credit Union leads the 3-year jumbo term, where you can lock in 4.15% vs. the 4.10% standard rate.\nIn the 5-year term, we have a tie: Credit One Bank's jumbo CD offers 4.00%, matching the standard rate.\n\n\n \n\n\n\n\n\n\n\nCD Term\nToday's Top National Bank Rate\nToday's Top National Credit Union Rate\nToday's Top National Jumbo Rate\n\n\n3 months\n5.00%*\n5.00%*\n4.16%\n\n\n6 months\n5.25%\n5.50%*\n5.00%\n\n\n1 year\n4.60%\n5.00%*\n4.85%\n\n\n18 months\n4.35%\n4.65%\n4.60%\n\n\n2 years\n4.29%\n4.27%\n4.35%*\n\n\n3 years\n4.10%\n4.10%\n4.15%*\n\n\n4 years\n4.00%\n4.09%*\n4.07%\n\n\n5 years\n4.00%*\n4.00%*\n4.00%*\n\n\n\n*Indicates the highest APY offered in each term. To view our lists of the top-paying CDs across terms for bank, credit union, and jumbo certificates, click on the column headers above.\n\n  How Far Will CD Rates Fall in 2024?  \n Last month, the Federal Reserve announced its first cut to the federal funds rate since March 2020. The Fed chose a bold 0.50-point decrease, starting a new phase after an aggressive inflation-fighting campaign of 11 rate increases between spring 2022 and summer 2023, and then a 14-month period of holding the Fed's benchmark rate at its highest level since 2001.\n\n\n However, Federal Reserve Chair Jerome Powell cautioned that the Fed is in no hurry to make further cuts, emphasizing that the committee's decisions will be guided, as always, by the latest economic data.\n\n\n \"If the economy slows more than we expect, then we can cut faster,\" he said at the National Association for Business Economics (NABE) Annual Meeting in Nashville, Tennessee. \"If it slows less than we expect, we can cut slower. And that's really what's going to decide it.\"\n\n\n The Fed's next rate-setting decision will be announced on Nov. 7. According to the CME Group's FedWatch Tool, 98% of interest rate traders currently predict the central bank will lower interest rates by another 0.25 percentage points at that meeting, and more than 81% are forecasting an additional quarter-point reduction in December.\n\n\n Time will tell what exactly happens to the federal funds rate in 2024 and beyond. But with one half-point cut already in the books, the CD rates available now could be the best you'll see for some time. So locking in as soon as possible is a smart financial move.\n\n\n\n\nDaily Rankings of the Best CDs and Savings Accounts\nWe update these rankings every business day to give you the best deposit rates available:\nBest 3-Month CD Rates\nBest 6-Month CD Rates\nBest 1-Year CD Rates\nBest 18-Month CD Rates\nBest 2-Year CD Rates\nBest 3-Year CD Rates\nBest 4-year CD Rates\nBest 5-Year CD Rates\nBest High-Yield Savings Accounts\nBest Money Market Accounts\n\nNote that the \"top rates\" quoted here are the highest nationally available rates Investopedia has identified in its daily rate research on hundreds of banks and credit unions. This is much different than the national average, which includes all banks offering a CD with that term, including many large banks that pay a pittance in interest. Thus, the national averages are always quite low, while the top rates you can unearth by shopping around are often 5, 10, or even 15 times higher.\n  How We Find the Best CD Rates  \n 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), the CD's minimum initial deposit must not exceed $25,000, and any specified maximum deposit cannot be under $5,000.\n\n\n 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.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481699575"}