The CDs we recommend must be available nationwide and these certificates typically pay three to five times as much as the national average-or even more. Investopedia launched in 1999 and has been helping readers find the best CD rates since 2019. We also research banks and credit unions to provide unbiased, comprehensive reviews to ensure our readers make the right decisions for their needs. When ranking CD rates, we look at factors that will help readers choose the best CD, like term, early withdrawal penalty, and minimum opening deposit. Investopedia collects thousands of CD rates from hundreds of banks and credit unions every weekday. Why You Can Trust Our Recommendations for the Best 1-Year CD Rates Communitywide Federal Credit Union – 5.60% APY.Interior Federal Credit Union – 5.69% APY.Langley Federal Credit Union – 5.70% APY.In cases where more than one institution pays the same rate, we've prioritized CDs by the shortest term, then the CD requiring a smaller minimum deposit, and if still a tie, alphabetically by institution name.

You can find our ranking of the top-paying CDs with terms of 10-14 months below.

CD rates closely follow the fed funds rate, so if the Fed implements a further increase, that could nudge CD rates higher still. 1-after 11 hikes in the previous 12 meetings-it has indicated that an additional increase is still on the table. Though the Fed held its benchmark rate steady for a second consecutive meeting on Nov. Today’s CD rates are higher than we’ve seen in more than 20 years, pushed up by the Federal Reserve’s rate-hike campaign that began in March 2022 to tame decades-high inflation.

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