Yesterday’s rate freeze by the Federal Reserve – widely expected for more than a month – did not stop banks and credit unions from raising CD rates. A week after we began counting CDs nationwide that offer 5.65% API or higher, the number in that elite category has risen from 15 to 21.
The highest on that list is the nationwide 5.80% API CD, and it comes in a flexible package. Presented by Credit personYou can score that amount for a CD term of your choice between 12 and 17 months. You have the option to earn 5.80% API with 1 year certificate Federal Savings Bank.
- The industry-leading rate on the Daily Best CDs rating remains 5.80% API, with maturities ranging from 12 to 17 months.
- Nationally, the number of CDs paying 5.65% or better rose again today, to 21. This is up from 15 a week ago.
- Anyone with a jumbo-sized deposit can get the highest rate nationwide – 5.85% APY available for a 170-day period.
- The Fed announced yesterday that it has kept rates on hold for now after its most recent hike in July. But a possible Fed hike in November or December is still on the table.
If you want to extend one of today’s records into the future, you can score 5.23% APY on the best 3-year CD. But for the first time, the Federation If it starts raising rates in early 2022, last week it brought up the option to earn 5.00% in CDs over a 4-year period. In the past, the yield rate for 4- and 5-year CDs only reached the high 4.00% range.