Rates on the country’s top certificates of deposit (CDs) continue to improve, with the number of options in our daily Top CDs rankings paying at least 5.35% rising to 15 today from 13 on Friday.
Yields on the best CDs available domestically have risen so much lately that we are focusing on this 5.35% threshold rate instead of the 5.25% rate we previously reported on. The number of certificates paying at least 5.25% rose from low single digits in early May to 42 today, including an increase of seven over the past week.
The highest rate of all terms continues to be 5.65% APY, available for a 9 month term. But if you want to extend a good rate (at least 5.00%) as far into the future as possible, there’s a 3-year CD that pays 5.13% APY and a 4-year jumbo CD that pays 5.00% APY. 12% APY – You’ll need a $100,000 deposit for that one.
Key points to remember
- Fifteen CDs in our daily ranking are paying 5.35% APY or better, up from 13 on Friday.
- The best overall rate across terms is still 5.65% APY, available on a 9 month CD.
- If you want to get an exceptional rate in the future, you can get an APY of 5.13% on a 3-year certificate or 5.12% on a 4-year jumbo certificate with a deposit of $100,000.
- Although the Fed decided to hold rates steady at its June 14 meeting, it signaled that it would likely raise rates later this year. A Fed bump, if it occurs, would almost certainly push CD rates even higher than today’s record highs.
CD Terms | Best National Friday Rate | Best domestic rate of the day | Change of day (percentage points) |
3 months | 5.16% ABS | 5.16% ABS | No change |
6 months | 5.65% APY | 5.65% APY | No change |
1 year | 5.52% ABS | 5.52% ABS | No change |
18 months | 5.45% APY | 5.45% APY | No change |
2 years | 5.25% APY | 5.25% APY | No change |
3 years | 5.13% APY | 5.13% APY | No change |
4 years | 4.85% APY | 4.85% APY | No change |
5 years | 4.77% ABS | 4.77% ABS | No change |
Despite the suggestion that a larger deposit entitles you to a higher return, this isn’t always the case for jumbo certificate rates, which often pay less than standard CDs. Today’s best jumbo deals, which typically require a deposit of $100,000 or more, beat the best standard rates in three CD terms, but you can do as well or better with standard CDs in the other five terms. . Don’t forget to shop around for all types of CDs before making your final choice.