Top CD prices today April 7th

After holding its rate crown for more than a month, the country’s highest-paying CD dropped its market-leading rate today. But the news isn’t all bad, as a new competitor has stepped into the void, offering the same top price, albeit with a slightly shorter duration. So the maximum rate for each CD is currently 5.50% for a 19-month Hyperion Bank certificate.

The CD rate landscape also saw further improvement today. Newtek Bank has moved up the rankings with its maturity leader 5.00% APY on a 3-month certificate. The top yield percentage (APY) on these short-dated CDs yesterday was 4.75% APY.

The central theses

  • The top 3-month and 18-month interest rates were both hiked a quarter of a point today.
  • Four more CDs paying at least 5.25% APY are available today.
  • The 2-year and 3-year maturities lost some ground with top rates falling from 5.50% to 5.35% APY.
  • The maximum you can earn on any term is still 5.50% APY, but now with a 19 month term.
  • Jumbo CD rates held their ground with a peak yield of 5.25% over two maturities.

Credit Human, a nationally available credit union, had been offering 5.50% APY on certificates with maturities of 24 to 35 months since March 3. Today, it lowered that rate to 5.35% APY. But that’s still enough to share the 2-year term with Langley Federal Credit Union, whose 5.35% APR is available on a 22-month certificate. And it’s still the highest rate available in our 3-year CD category, too.

Meanwhile, Hyperion Bank has stepped up and is offering 5.50% APY on a special 19-month promotional certificate. Although it is implied that this is a limited time offer, Hyperion has not announced an expiration date. Hyperion currently enjoys top accolades for the highest nationally available CD rate at any runtime.

Not all news was in the top spots. There were also upward movements in the second and third ranks. There are now 14 certificates paying at least 5.25% APY, compared to just 10 yesterday. You can also now earn 5.00% APY or better in any single term from 3 months to 3 years.

Jumbo CD interest rates have held up well today, with the top rate remaining at 5.25% on 6-month and 18-month maturities. As is so often the case, you can earn more with a standard CD in most cases.

Federal Reserve interest rate moves over the coming months are extremely uncertain right now, but most market forecasts see Fed rates moving only marginally higher and potentially being pulled before the end of 2023. For this reason, it might be prudent to secure an attractive CD rate soon to enjoy for months or years regardless of the Fed’s decisions.

CD run time Yesterday’s national maximum rate Today’s national maximum rate Daily change (percentage points)
3 months 4.75% APR 5.00% annual interest + 0.25
6 months 5.25% APR 5.25% APR No change
1 year 5.25% APR 5.25% APR No change
18 months 5.25% APR 5.50% APR + 0.25
2 years 5.50% APR 5.35% APR – 0.15
3 years 5.50% APR 5.35% APR – 0.15
4 years 4.73% APR 4.73% APR No change
5 years 4.68% APR 4.68% APR No change
ten years 4.30% APR 4.30% APR No change
To see the top 15-20 rates nationwide for a term, click on the desired term in the table above.
CD run time Today’s top exchange rate of the National Bank Today’s top interest rate from the national credit union Today’s highest national jumbo rate
3 months 5.00% annual interest 4.50% annual interest 3.91% APR
6 months 5.25% APR 5.25% APR 5.25% APR
1 year 5.25% APR 5.15% APR 5.15% APR
18 months 5.50% APR 5.25% APR 5.25% APR
2 years 5.28% APR 5.35% APR 5.04% APR
3 years 4.60% APR 5.35% APR 4.99% APY
4 years 4.55% annual interest 4.73% APR 4.89% APR
5 years 4.50% annual interest 4.68% APR 4.84% APR
ten years 4.10% APR 4.30% APR none
Click on the column headings above to see our lists of the best paying CDs by term for bank, credit union and jumbo certificates.

Will CD prices go up or down?

CD rates rose in 2022 as the Federal Reserve hiked the federal funds rate to fight inflation. The Fed’s actions this year have pushed interest rates to levels not seen in years. The Fed has raised interest rates twice this year, both times by 0.25%. Although still an increase, the increases were lower than last year when inflation was higher than it is now.

Below you can see how CD prices have developed in recent years. The dots in the graph indicate the highest CD rate offered for that term on Monday of that week.

The Fed’s next meeting ends on May 3rd and it seems highly likely that further rate hikes will be minimal. It’s even possible that the Fed will start cutting the federal funds rate before the end of the year. If it decides to pause rate hikes, we might see these lines on the chart stay the same for some time or start falling.

Note that the “top” rates quoted here are the highest rates available nationwide, as identified by Investopedia in its daily interest rate research of hundreds of banks and credit unions. This differs greatly from the national average, which includes all banks that offer a CD with this term, including many large banks that pay a paltry amount of interest. For example, national averages are always quite low, while the top rates you can find while shopping are often five, ten or even 15 times higher.

Disclosure of Tariff Collection Methodology

Every business day, Investopedia tracks price data from more than 200 banks and credit unions that offer CDs to customers nationwide, and provides daily rankings of the best paying certificates in each major term. To qualify for our listings, the institution must be federally insured (FDIC for banks, NCUA for credit unions) and the CD’s minimum initial deposit must not exceed $25,000.

Banks must be available in at least 40 states. And while some credit unions require you to donate to a specific charity or association in order to become a member if you don’t meet other eligibility criteria (such as not living in a specific area or doing a specific type of job), We exclude credit unions whose donation requirement is $40 or more. To learn more about how we select the best rates, read our full methodology.

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