Lock in one of these top CD prices while you still can

Key recommendations

The the best prices on CDs in the country they mostly held their ground this week, with only one term seeing a very slight drop in rate.
You can still earn a top national rate of 5.50% from Nuvision Credit Unionwith a rate lock that will last until the end of next summer.
You can also find guarantees with slightly shorter or longer rates, with more than a dozen additional CDs paying 5.00% or more.
Rates on the 2-year CD fell this week, but only from a high of 4.53% to 4.50%.
With the Fed set to announce another rate cut in a week and a half, CD rate declines could quickly increase. So don’t waste time closing a CD you like.

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How top CD rates changed this week

Certificates of deposit (CD) rates remained strong this week. The prime rate in each term remained flat, except for a minor drop in the best 2-year CD rate: 4.53% to 4.50%. The Federal Reserve cut interest rates in mid-September, and CD rates have been falling for the past few months. But it is not too late to ensure an excellent yield.

You can still earn a top rate of 5.50% from Nuvision Credit Union with an 8-month locked-in rate. If you open it this weekend, you’ll be guaranteed annual percentage yield (APY) until the end of June next year.

Do you want a slightly shorter or slightly longer rate lock? Thirteen more options in our daily ranking of the best CD rates pay 5.00% to 5.25%. That’s down slightly from 15 options a week ago.

Every weekday, we track certificate of deposit rates available from over 200 banks and credit unions offering certificates nationwide. That allows us to tell you exactly where to find the best deals on any given day, no matter what CD term you’re looking for.

To view the top 15-20 nationwide rates for any term, click on the desired term length in the left column above.

What to expect from CDs next week

Any CD offer can evaporate overnight. So if you find a CD and a price you like, it would be wise to lock in without delay. In the next couple of weeks, there is an added urgency to secure a CD rate soon. That’s because the Fed is expected to cut federal funds rates by another quarter of a percentage point on November 7.

Although that date is still a week and a half away, banks and credit unions don’t usually wait for the official Fed announcement to make your own rate moves. As a result, it’s a fair bet that CD rates will soften a bit more in the coming week.

Interest rate cuts by the Fed are a good reason to consider the longest CD term you can manage. Not only is a rate cut expected in November, but there could be a further cut in December – and there will almost certainly be more cuts in 2025 as well.

But whatever CD rate you lock in now is yours to enjoy until then it matures. So, opening a 2-year CD can guarantee you a high rate going forward until 2026. And 3-, 4-, and 5-year CDs will ensure stellar returns for even longer.

Advice

With online banking, you can apply for any of these CDs on the weekend, when you may have more time than during the week. While your application probably won’t be processed over the weekend, your bank or credit union will receive it on Monday morning, and you won’t have to worry about applying during busy work or school hours.

Daily ranking of the best CDs and savings accounts

Note that the “top rates” mentioned here are the highest rates available nationally that Investopedia has identified in its daily rate research of hundreds of banks and credit unions. This is much different than the national average, which includes all banks that offer a CD with that term, including many large banks that pay a low interest rate. So the national averages are always quite low, while the top rates you can find by shopping around are often 5, 10 or even 15 times higher.

How we find the best CD savings and rates

Each business day, Investopedia tracks rate data from more than 200 banks and credit unions that offer CDs and savings accounts to customers across the country and determines daily rankings of the best paying accounts. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), and the minimum initial account deposit must not exceed $25,000. It also cannot specify a maximal deposit amount that is below $5,000.

Banks must be available in at least 40 states to qualify as nationwide. 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 (for example, you don’t live in a certain area or work in a certain type of labor), we exclude credit unions whose donation requirement is $40 or more. For more on how we choose the best rates, read our full methodology.