Are you looking for the top CD rates on the market today? The hunt for the best rates can be a challenge, but we’ve compiled a list of the top CD rates available as of April 14th. Whether you’re looking for a short-term or long-term investment, we have you covered with rates from some of the most highly-rated banks and credit unions. Read on to discover the best CD rates available today and make an informed decision on where to invest your money.
As the possibility of a Federal Reserve interest rate plateau draws closer, CD shoppers are starting to see the effects. Three CD terms experienced a drop in their top nationwide rates, leading to only one institution offering the market-leading rate of 5.35% APY. CBC Federal Credit Union, which recently launched term-leading rates of 4.95% APY for 4 years and 5.00% APY for 5 years, has already abandoned those market leaders, reducing the top rates in those two terms to 4.73% APY and 4.68% APY, respectively, both on offer from Lafayette Federal Credit Union.
Though the industry-leading rate across terms is still 5.35% APY, that rate is now only available from one credit union instead of two. Additionally, the top rate on 4-year and 5-year CDs dipped under 5% today, meaning 35 months is currently the longest term offering a rate of at least 5.00% APY. The number of CDs paying 5.25% APY or more nationwide has dropped to just six, after starting the week at 12.
It’s important to note 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, significantly different from the national average, which includes all banks offering a CD with that term, including many large banks that pay a low amount of interest. Thus, the national averages are always quite low, while the top rates you can unearth by shopping around are often much higher.
In conclusion, with the current state of the economy, finding the best CD rates is more important than ever. Whether you’re saving for a specific goal or just looking to maximize your returns, the top CD rates available today can help you reach your financial goals. By taking the time to research and compare the various offerings from different banks and credit unions, you can find a CD that is tailored to your unique needs and preferences. So don’t hesitate – start exploring the options today and rest easy knowing that your savings are working hard for you.
