The minimum deposit can be no more than $25,000, and only institutions that are federally insured (by the Federal Deposit Insurance Corporation for banks or the National Credit Union Administration for credit unions) are eligible for our list. ![]() CD rates closely follow the fed funds rate, so if the Fed implements a further increase, that could nudge CD rates higher still.īased on daily rate monitoring of about 200 banks and credit unions that offer nationwide certificates, we continuously rank the highest-paying CDs that have an approximately 18-month term (this includes maturities ranging from 15 to 20 months). 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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