Best CD Rates for November 2024

Savings rates on high-yield savings accounts and CDs began rising in March 2022, when the Fed started hiking interest rates in an attempt to combat high inflation. But as inflation slowed and the central bank paused its rate-hiking campaign, rates on savings accounts began to slip, and they fell even further when the Fed finally cut rates at its September meeting.

However, many top-earning accounts still offer solid APYs. So if you act fast, you can invest your cash in a CD with a high rate of return. More rate cuts are expected later this year and throughout 2025, so opting for a longer-term CD could be a smart move. Just be sure you won't need to access your cash until the CD matures.

Here are some of the best CD rates available now, sorted by term length. Plus use our tool, in partnership with Bankrate, which automatically updates the rates ensuring you get the most up-to-date CD rates available.

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Best 3-month CD rates

Short-term CDs, like 3-month or 6-month CDs, can be good options for individuals who don’t want to commit to having their cash tied up for long periods of time. However, it’s important to compare rates across accounts to be sure you’re getting the best return on your cash. For instance, you are likely to get a similar, or even higher, APY when opening a high-yield savings account or money market account.

With these more flexible savings vehicles, you won’t have to wait long to withdraw funds from your account. But they can have a downside: it is easier to make impulse purchases with cash in a high-yield savings account than cash that is tied up in a CD.

Digital Federal Credit Union

APY: 5.00%

Minimum deposit: $25,000

Bask Bank

APY: 4.65%

Minimum deposit: $1,000

Brilliant Bank

APY: 4.60%

Minimum deposit: $1,000

TotalBank

APY: 4.91%

Minimum deposit: $25,000

Dow Credit Union

APY: 4.75%

Minimum deposit: $500

Banesco USA

APY: 4.50%

Minimum deposit: $1,500

Popular Direct

APY: 4.40%

Minimum deposit: $10,000

Merchants Bank of Indiana

APY: 4.50%

Minimum deposit: $1,000

Best 6-month CD rates

Barclays

APY: 4.50%

Minimum deposit: $0

Bank5 Connect

APY: 4.85%

Minimum deposit: $500

Newtek Bank

APY: 5.25%

Minimum deposit: $2,500

TotalBank

APY: 4.85%

Minimum deposit: $25,000

ableBanking

APY: 4.70%

Minimum deposit: $5,000

Bask Bank

APY: 4.45%

Minimum deposit: $1,000

Vibrant Credit Union

APY: 5.00%

Minimum deposit: $5

Mountain America Credit Union

APY: 4.65%

Minimum deposit: $500

Best 1-year CD rates

CDs are good options for particular savings goals, like future purchases or events. For example, if you want to purchase a new vehicle in three years, then keeping your cash in a 3-year CD makes sense. Or maybe you’re saving for next year’s vacation, so putting your cash in a 1-year CD account will help you maximize your savings with little effort.

Remember: you won’t be able to access your cash once it’s put into a CD account (unless you opt for a no-penalty CD account). For this reason, cash you’ll need access to, like savings in an emergency fund should be saved elsewhere.

You may also want to open a number of CDs with varying maturity dates if you’re building a CD ladder. With this strategy you stagger, or "ladder," maturities so that some are always coming due in the near future. For example, if you have $10,000 to invest, you could split it equally into five “rungs,” putting $2,000 into CDs with maturity dates a year apart.

So, $2,000 in a 1-year CD, $2,000 in a 2-year CD and so on. When each CD matures, you’ll invest your cash, plus any earned interest, into another 5-year CD. You’ll then be left with five 5-year CDs, with one maturing each year, providing a consistent cash flow.

See Kiplinger's full list of top earning 1-year CD rates.

Mountain America Credit Union

APY: 4.15%

Minimum Deposit: $500

First Community Credit Union

APY: 4.25%

Minimum Deposit: $500

Northpointe Bank

APY: 3.25% (11 months)

Minimum Deposit: $25,000

Limelight Bank

APY: 4.50%

Minimum Deposit: $1,000

Bread Financial

APY: 4.30%

Minimum Deposit: $1,500

Best 2-year CD rates

EFCU Financial

APY: 4.00%

Minimum Deposit: $500

Lafayette Federal Credit Union

APY: 3.96%

Minimum Deposit: $500

Colorado Federal Savings Bank

APY: 4.00%

Minimum Deposit: $5,000

Connexus Credit Union

APY: 3.92%

Minimum Deposit: $5,000

Bayer Heritage Federal Credit Union

APY: 3.82%

Minimum Deposit: $100

Best 3-year CD rates

See Kiplinger's full list of top earning 3-year CDs.

Lafayette Federal Credit Union

APY: 3.85%

Minimum Balance: $500

Securityplus Federal Credit Union

APY: 4.00%

Minimum Balance: $1,000

MYSB Direct

APY: 4.00%

Minimum Balance: $500

Credit Human

APY: 4.00%

Minimum Balance: $500

The Federal Savings Bank

APY: 3.95%

Minimum Balance: $5,000

TAB Bank

APY: 3.60%

Minimum Balance: $1,000

Synchrony

APY: 3.90%

Minimum Balance: $0

INOVA Federal Credit Union

APY: 4.00%

Minimum Balance: $200

Best 4-year CD rates

Securityplus Federal Credit Union

APY: 4.00%

Minimum Balance: $1,000

Lafayette Federal Credit Union

APY: 3.75%

Minimum Balance: $500

Credit Human

APY: 4.00%

Minimum Balance: $500

Mountain America Credit Union

APY: 3.90%

Minimum Balance: $500

The Federal Savings Bank

APY: 3.80%

Minimum Balance: $5,000

Best 5-year CD rates

A major benefit of opening a long-term CD is that you’ll be able to lock in rates while they’re high. Unlike rates on high-yield savings accounts, which vary with the market, rates on CDs are locked in when you open the account. For this reason, if you open a 5-year CD and then savings rates drop shortly after, your APY won’t be affected.

The downside, however, is that your cash will be tied up for many years. If you needed to access this cash, the withdrawal fee could offset a good portion of any interest earned.

See Kiplinger's full list of top earning 5-year CDs.

Lafayette Federal Credit Union

APY: 3.70%

Minimum Balance: $500

Northpointe Bank

APY: 3.70%

Minimum Balance: $1,000

Mountain America Credit Union

APY: 3.90%

Minimum Balance: $500

Securityplus Federal Credit Union

APY: 4.00%

Minimum Balance: $1,000

Marcus by Goldman Sachs

APY: 3.60%

Minimum Balance: $500

EFCU Financial

APY: 3.75%

Minimum Balance: $500

BMO Alto

APY: 4.00%

Minimum Balance: $0

Bottom line

At their latest meeting, the Federal Reserve cut interest rates.

For this reason, now's a great time to lock in CD rates while they're still high. But make sure you won't need access to your cash before the CD's maturity date, or you'll offset any earnings by paying the early withdrawal fee.

Related Content

• How to Find the Best Jumbo CD Rates
• CDs vs Bonds: Which Is Better for You?
• What to Know About CD Ladders