Top CD rates today: Top rates remain competitive — June 7, 2024 (2024)

Certificates of deposit (CDs) can be an excellent option if you’re seeking a low-risk investment to earn interest on money you don’t need right away. CD rates held mostly steady over the past week, according to data from Curinos, even in the midst of a rate hike pause by the Federal Reserve. The national average for a 6-month CD with a $25,000 deposit stands at 1.80%, while a 1-year CD currently yields 1.95%. Additionally, 2-year and 3-year CDs offer average rates of 1.71% and 1.62% respectively.



Average APY

High rate

3-month CD



6-month CD



1-year CD



2-year CD



3-year CD



Source: Curinos. Data accurate as of June 6, 2024. Quoted rates are based on a $25,000 deposit.

Three-month CD rates

Rates on three-month CDs have increased from a week ago. The national average rate was 1.28% as of June 6, 2024, the latest data available, up one basis point from the previous week and up two basis points from a month prior.

The current national high for a three-month CD is 5.39%, which would earn more than $330 in interest with a $25,000 deposit.

Six-month CD rates

By choosing a top-rated six-month CD, you benefit from a winning mix of competitive interest rates and a short-term commitment.

The national average APY for six-month CDs is 1.80%, the same as last week and up from 1.78% one month ago.

The current top national rate for a 6-month CD is 5.40%, according to the data available from Curinos. Shopping around can help you find better deals.

With that rate, you’d earn almost $670 in interest if you deposited $25,000.

One-year CD rates

If you’re up for setting aside your savings for a full year, you’ll be able to grab even more impressive rates. One-year CDs can give you returns as high as, or even higher than, longer-term options.

Rates on 12-month CDs are moving down. The national average APY is 1.95%, down one basis point from last week and the same as a month before.

The current national high for a 12-month CD is 5.37%, which would earn roughly $1,340 in interest with a $25,000 deposit.

Two-year CD rates

Interest rates on CDs with longer terms, such as those spanning two years, have remained stable.

The nationwide average APY stands at 1.71%, the same as a week prior yet up one basis points from one month ago.

Right now, the highest national rate for a 24-month CD is 5.12%, which would earn nearly $2,630 on $25,000 in savings.

Three-year CD rates

The national average APY for a three-year CD stands at 1.62%, which is flat to where it stood last week and up from 1.61% a month ago.

The highest rate was 4.75%, which would net almost $3,731 in interest if you invested $25,000.


To establish average certificate of deposit (CD) rates, Curinos focused on CDs intended for personal use. CDs that fall into specific categories are excluded, including promotional offers, relationship-based rates, private, youth, senior, student/minor, affinity, bump-up, no-penalty, callable, variable, step-up, auto transfer, club, gifts, grandfathered, internet-only and IRA CDs. The average CD rates quoted above are based on a $25,000 deposit.

Frequently asked questions (FAQs)

In 2022, savers finally experienced some relief with the rise of CD yields.

That trend has largely continued throughout 2023, as the Federal Reserve has continued to raise interest rates to moderate inflation. However, the Fed paused its interest rate policy in its most recent meeting in order to see how the economy responds to such high rates.

You’ll need a few key details to open a CD: your name, address, Social Security number, government-issued ID and phone number. You can open a CD online or in person, but you’ll probably find better rates online. Once you get the green light, you can fund the CD with cash from a linked bank account or one that’s not affiliated with the bank at all.

CD rates change on a regular basis, but the higher the better. As of June 6, 2024, the national average interest rate for a 12-month CD sat at 1.95% APY, according to data from Curinos. But you can find plenty of banks advertising APYs well above this average, especially if you take a look at the top contenders in our ranking of the best CD rates.

A basis point is the term used to describe one hundredth of one percentage point. Therefore, if the yield on a CD increased from 1.50% to 1.60%, it increased by 10 basis points.

Top CD rates today: Top rates remain competitive — June 7, 2024 (2024)


Top CD rates today: Top rates remain competitive — June 7, 2024? ›

Key takeaways. The national average rate for one-year CD rates will be at 1.15 percent APY by the end of 2024, McBride forecasts, while predicting top-yielding one-year CDs to pay a significantly higher rate of 4.25 percent APY at that time.

How high will CD rates go in 2024? ›

Key takeaways. The national average rate for one-year CD rates will be at 1.15 percent APY by the end of 2024, McBride forecasts, while predicting top-yielding one-year CDs to pay a significantly higher rate of 4.25 percent APY at that time.

Can you get 6% on a CD? ›

It's possible to get a 6% certificate of deposit, but currently, they're only offered by credit unions, not banks. Pros of a 6% CD include locked-in interest rates and a relatively high rate of return.

Should I lock in a CD now or wait? ›

Waiting to open a CD could mean missing out on some stellar rates. Now, you can lock in high rates on both short-term and long-term CDs, and you can score some serious interest just by opting to deposit a larger lump sum into your CD.

Where can I get 7% interest on my money? ›

Why Trust Us? As of June 2024, no banks are offering 7% interest rates on savings accounts. Two credit unions have high-interest checking accounts: Landmark Credit Union Premium Checking with 7.50% APY and OnPath Credit Union High Yield Checking with 7.00% APY.

Can you get 7% on a CD? ›

Can You Get a 7% CD Account? There was a lot of excitement in August 2023 about a few credit unions offering 7% APYs on certificates. But those rates were offered for a limited time only and are no longer available. However, the nation's best CD rates are still well above 5%, with some pushing toward 6%.

What is the CD rate for bank of Hope 2024? ›

*Promo Plus Certificate of Deposit: The Promotional APY (Annual Percentage Yield) of 5.35% for a term of 6 months, 5.25% for a term of 12 months are accurate as of 5/6/2024.

What is the best CD rate for $100,000? ›

For those who have a large sum to deposit, today's best jumbo CD rate from a nationally available institution is 5.51% APY, offered by My eBanc for 6 months. Most jumbo CDs require a minimum deposit of $100,000, though some jumbos—including My eBanc's—can be opened with $50,000.

Should I put my money in CDs now? ›

How CDs work. Unlike traditional or high-yield savings accounts, which have variable APYs, most CDs lock your money into a fixed interest rate the day you open the account. That's why if you suspect that interest rates will soon drop, it can be a good idea to put money in a CD to preserve the high APY you would earn.

What is the highest CD rate at Capital One? ›

Capital One's 12 and 18-month CDs have the highest annual percentage yields (APYs), 5.00% and 4.45%. The bank regularly offers promotional CDs with higher rates. Currently, a 10-month CD offers 5.10% APY. Capital One yields are more competitive than many big banks, though several online banks offer similar rates.

What will CD rates do in 2024? ›

CD Rates Forecast 2024

The CME FedWatch Tool, which measures market expectations for federal funds rate changes, shows that most experts expect rates to sit between 4.50% and 5.25% by December 2024. At its 2024 meetings, the FOMC held the federal funds rate steady at a target range of 5.25% and 5.50%.

Can I put 100k in a CD? ›

Those with $100,000 or more may want to consider depositing their money into a jumbo CD that's insured through a bank insured by the Federal Deposit Insurance Corp. (FDIC) or a credit union insured by the National Credit Union Administration (NCUA).

What is the predicted interest rate for 2024? ›

Mortgage rate predictions 2024

The MBA's forecast suggests that 30-year mortgage rates will fall into the 6.4% to 6.7% range throughout the rest of 2024, and Fannie Mae is forecasting the same. NAR believes rates will average 7.1% this quarter and fall to 6.5% by the end of 2024.

Will CD rates go up in 2025? ›

CD rates should remain fairly attractive in 2025

While we don't know exactly when the first of those rate cuts will happen, the Fed has signaled that it's looking to cut rates in 2024. Because of this, the CD rates savers are seeing today may not be available come 2025.

What is the money market prediction for 2024? ›

The national average rate for savings accounts will be 0.3 percent by the end of 2024, McBride forecasts, while predicting an average of 0.35 percent for money market accounts. At the end of 2024, the top-yielding nationally available money market account and savings account are projected to be at 4.45 percent APY.

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