The Best CDs to Guarantee Your Rate Until 2026, 2027, or Even Longer (2024)

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Sabrina Karl

The Best CDs to Guarantee Your Rate Until 2026, 2027, or Even Longer (1)

Full Bio

Sabrina Karl has over two decades of experience writing about savings, CDs, and other banking topics. She is currently a staff writer at Investopedia and one of the country's top experts on how to earn as much as possible on the money you hold in the bank. She previously wrote for Bankrate.com, CreditCards.com, DepositAccounts.com, and RateSeeker.

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Published July 11, 2024

The Best CDs to Guarantee Your Rate Until 2026, 2027, or Even Longer (2)

Key Takeaways

  • Below, we lay out more than 50 options for locking in a CD rate until 2026, 2027, or even 2028–2029, with returns as high as 5.10%.
  • It's expected the Federal Reserve will start lowering interest rates in 2024, and it will likely continue in 2025. That means CD rates will start coming down soon.
  • With future interest rates expected to be lower, it's a smart time to lock in a multi-year CD with a nationally competitive rate.
  • Any CD you open today will have a guaranteed rate until the end of its term—whether that's months or years down the road.
  • CD rates surged to a 20-year peak last fall, thanks to the Fed's aggressive battle against decades-high inflation. Though now slightly lower, the best CD rates are still near record highs.

The full article continues below these offers from our partners.

Why Now Is a Great Time for Mid- to Long-Term CDs

More than two years ago, the Federal Reserve embarked on an aggressive rate-hike campaign in a fight against decades-high inflation. With 11 increases to the federal funds rate between March 2022 and July 2023, the Fed raised that benchmark rate by a cumulative 5.25 percentage points. That's the highest level for the fed funds rate since 2001.

Bank and credit union deposit rates are directly influenced by the federal funds rate. As a result, certificate of deposit (CD) rates surged in 2023. And though CD rates have softened a bit since then, they're still paying historically high returns. Just compare today's rates below to what CDs were paying in early 2022.

But with inflation coming down—to 3% in its reading this morning—the Fed is moving closer to a new phase: rate cuts. While it's expected the Fed will hold rates steady one more time at its meeting that concludes July 31, financial markets currently forecast that the central bank will announce a first rate cut of 0.25 percentage points on Sept. 18, according to the CME Group's FedWatch Tool.

As soon as the Fed signals it's ready to begin lowering its rate, CD returns will start to drift downwards as well. That means we could see lower deposit rates in a few months—and possibly 2025 rates that are lower still.

In fact, after the Fed met on June 12, it released its quarterly “dot plot” projections for where the federal funds rate would be at the end of 2024, 2025, and 2026. You can see below that, as of the June meeting, Fed committee members predicted the benchmark rate would be lowered by more than 2 percentage points over the next two and a half years.

This likelihood of falling CD rates makes it a smart move to stash money you won't need for a while in a CD that will secure one of today's historically high rates. And the longer you can commit, the longer you'll enjoy that rate guarantee—no matter what happens with the Fed.

Today's Best CD Rates With Guarantees Until 2026, 2027, or Even Longer

Our daily ranking of the best CD rates always provides you with a list of the highest nationally available offers. Right now, the highest returns are available on shorter-term CDs. But since odds are high that interest rates could enter a two- to three-year slide, it could be smart to lock in a rate today that will be guaranteed for two years—or even longer if you feel confident you can live without access to the funds.

Here are our roundups of today's hottest rates that will guarantee your annual percentage yield (APY) into 2026, 2027, or even as long as 2028–2029.

All the CDs listed below are available nationwide, even if offered by a credit union. And all are federally insured—covered by the Federal Deposit Insurance Corporation (FDIC) for banks or the National Credit Union Administration (NCUA) for credit unions. That means even in the unlikely case the institution fails, your deposits up to $250,000 are protected.

Top CDs That Will Mature in 2026

For more details about these CDs, including early withdrawal penalties and information about the institutions, visit our daily rankings:

  • Best 18-Month CDs
  • Best 2-Year CDs
Bank or Credit UnionAPYTerm (months)Minimum
Credit Human5.10%18–23$500
MYSB Direct5.10%18$500
USAlliance Financial5.10%24$500
Soarion Credit Union5.05%18$1,000
The Federal Savings Bank5.05%18$5,000
CFG Bank5.00%18$500
Bask Bank5.00%18$1,000
Seattle Bank5.00%18$1,000
CommunityWide Federal Credit Union5.00%18$1,000
Newtek Bank5.00%18$2,500
LendingClub5.00%18$2,500
My eBanc5.00%18$5,000
West Town Bank & Trust5.00%18 or 24$10,000
Synchrony Bank5.00%19Any amount
Heartland Credit Union5.00%24$500
ableBanking4.95%24$5,000
Crescent Bank4.90%24$1,000

Top CDs That Will Mature in 2027

For more details about these CDs, including early withdrawal penalties and information about the institutions, visit our daily ranking:

  • Best 3-Year CDs
Bank or Credit UnionAPYTerm (months)Minimum
Vibrant Credit Union5.00%30$5
DollarSavingsDirect5.00%36$1,000
Crescent Bank4.85%30$1,000
Dow Credit Union4.81%36$500
Credit Human4.75%24–35$500
EFCU Financial4.75%30$500
Luana Savings Bank4.70%30$2,000
MYSB Direct4.70%36$500
Seattle Bank4.65%36$1,000
First Internet Bank4.61%36$1,000
Dept. of Commerce Federal Credit Union4.60%24–35$25,000
BMO Alto4.60%36Any amount
First National Bank of America4.60%36$1,000
The Federal Savings Bank4.60%36$5,000

Top CDs That Will Mature in 2028 or 2029

For more details about these CDs, including early withdrawal penalties and information about the institutions, visit our daily rankings:

  • Best 4-Year CDs
  • Best 5-Year CDs
Bank or Credit UnionAPYTerm (months)Minimum
BMO Alto4.75%60Any amount
Grow Financial4.75%60$500
BMO Alto4.70%48Any amount
Credit Human4.65%36–59$500
Dept. of Commerce Federal Credit Union4.60%36–47$25,000
Seattle Bank4.55%48$1,000
The Federal Savings Bank4.55%48$5,000
Pima Federal Credit Union4.50%48 or 60$250
Dow Credit Union4.50%48 or 60$500
SecurityPlus Federal Credit Union4.50%48$1,000
Crescent Bank4.50%48$1,000
First National Bank of America4.50%48 or 60$1,000
Farmers Insurance Federal Credit Union4.50%48 or 60$1,000
First Internet Bank4.50%60$1,000
Seattle Bank4.50%60$1,000

Can't Commit for Two Years? Here Are Your Next-Best Options

If you don't have funds you're willing to lock up for a couple of years, you can still benefit from today's historically high rates. Instead, you could put money in a shorter-term CD, depending on your personal timeline:

  • Today's Best 3-Month CD Rates: Rates up to 5.51%
  • Today's Best 6-Month CD Rates: Rates up to 5.60%
  • Today's Best 1-Year CD Rates: Rates up to 6.00%

As you can see, many of these CDs pay higher rates than you'll find for terms of two years or longer. That makes them near-term winners. But your rate guarantee will end sooner.

For money you need to keep fully accessible and can't commit to a CD at all, consider a high-yield savings account. Our daily ranking of the best savings account rates reaches up to 5.55% APY, with more than 10 additional offers paying 5.25% or more.

Savings account rates are variable, meaning they can change at any time. Right now, the top high-yield savings account rate is at a 20-year high. But once a Fed rate cut appears on the horizon, savings account rates will start to decline.

Best Jumbo CD Rates for July 2024

Best Money Market Account Rates of July 2024—Up to 5.35%

How We Find the Best Savings and CD Rates

Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs and savings accounts to customers nationwide and determines daily rankings of the top-paying accounts. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), and the account'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 to become a member if you don't meet other eligibility criteria (e.g., you don't live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, read our full methodology.

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy.

  1. Federal Reserve Board. "Open Market Operations."

  2. CME Group. "CME FedWatch."

  3. Federal Reserve Board. "Summary of Economic Projections—June 12, 2024," Page 4.

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The Best CDs to Guarantee Your Rate Until 2026, 2027, or Even Longer (2024)

FAQs

The Best CDs to Guarantee Your Rate Until 2026, 2027, or Even Longer? ›

One local credit union has a CD paying 6% APY. To open a 6% APY CD, you may need to meet certain eligibility requirements. There are also banks and credit unions with CDs paying over 5% APY, which are available nationwide.

Can you get 6% on a CD? ›

One local credit union has a CD paying 6% APY. To open a 6% APY CD, you may need to meet certain eligibility requirements. There are also banks and credit unions with CDs paying over 5% APY, which are available nationwide.

Will CD rates stay high in 2025? ›

It'll all hinge on how inflation trends over the next few months. But either way, the general expectation is that the Fed will start cutting rates before 2024 is over. That means CD rates are likely to be lower in 2025 than where they are today.

Are CD rates expected to go up 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.

What bank has the highest CD rate right now? ›

The highest certificates of deposit (CDs) rates today are offered by Merchants Bank of Indiana (5.92%), First Federal of Lakewood (5.61%), Maries County Bank (5.51%) and Shoreham Bank (5.50%). You can see the full list of the highest-paying CDs here.

Can you get 7% on a CD? ›

There's one CD paying 9.50% APY for balances up to $3,000, but there are eligibility limitations. Since the Federal Reserve indicated it will cut rates, rather than increase them, by the end of 2024, it's unlikely that CDs or savings accounts offer CDs of 7% APY or more without significant restrictions.

What bank is paying 5% on CDs? ›

Highest current CD rates (overall)
Institution nameAPYTerm length
MYSB Direct5.05%18 months
Citibank5.02%3 months
Evergreen Bank Group5.00%12 months
LendingClub Bank5.00%18 months
31 more rows

Should I lock in a CD now or wait? ›

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.

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

As of July 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.

How to avoid tax on CD interest? ›

If the CD is placed in a tax-deferred 401(k) or individual retirement account (IRA), any interest earned on the CD may be exempt from paying taxes in the year it was earned. 2 Instead, you will pay taxes on that money when it is withdrawn from the 401(k) or IRA after you retire.

What will interest be in 2026? ›

For the end of 2026, the median dot now shows a target range of 3% to 3.25%, versus 2.75% to 3% three months ago. And officials' median longer-run estimate was for a target range of 2.5% to 2.75%, also a quarter of a percentage point higher than in December.

What is a Jumbo CD? ›

Jumbo CDs work the same way as regular CDs but with larger minimum deposit amounts. Jumbo CDs are often purchased by institutional investors with large sums of money to manage and need to put money into safe investments like CDs to protect their investors against risks.

How long will CD rates remain high? ›

Currently, national average rates for a 1-year CD sit at 1.86% APY, up from 0.15% APY in April 2022. But with no change to rates since December 2023, it doesn't appear rates will continue to go up, at least significantly.

Where will CD rates be in 2025? ›

The Top CDs for Locking Your Rate Until 2025 to 2027
Best 1-Year CDs - Mature Early 2025APYMinimum
Vibrant Credit Union5.50%$ 5
Financial Resources Federal Credit Union5.43%$ 500
Best 18-Month CDs - Mature Later 2025APYMinimum
XCEL Federal Credit Union5.45%$ 500
20 more rows
Feb 28, 2024

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

Compare the Best Jumbo CD Rates
InstitutionRate (APY)Minimum Deposit
Connexus Credit Union5.25%$100,000
CD Bank5.20%$100,000
State Department Federal Credit Union5.20%$100,000
Finworth5.20%$50,000
11 more rows

What is the biggest negative of putting your money in a CD? ›

Banks and credit unions often charge an early withdrawal penalty for taking funds from a CD ahead of its maturity date. This penalty can be a flat fee or a percentage of the interest earned. In some cases, it could even be all the interest earned, negating your efforts to use a CD for savings.

Where can I get 6% on my savings? ›

Savings accounts with at least 6% interest

Digital Federal Credit Union, one of our favorite banks in Massachusetts, is the only credit union paying 6% APY on a savings account. The credit union offers 6.17% APY on balances up to $1,000. If you have an account balance above $1,000, the interest rate drops to 0.15% APY.

How big of a return can you get on a CD? ›

Current national average CD rates
TermNational average rate
6-month CD1.81% APY.
1-year CD1.85% APY.
3-year CD1.44% APY.
5-year CD1.43% APY.
1 more row
Mar 21, 2024

What is the lowest amount you can buy a CD? ›

CDs have a typical minimum balance or opening requirement that's often around $1,000, but it can range from $0 to $10,000.

What percent can you get on a CD? ›

How much can you earn by investing in a $2,500 CD?
TermAPY*Total value earned
Three months2.00%$12
Six months5.05%$62
12 months4.50%$132
18 months4.40%$190
4 more rows
Jun 16, 2024

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