Top CDs today, April 15, 2020 – Rates drop in 2- and 5 year terms

Takeaways

• The best offers on 2- and 5-year terms fell today from 4.40% – 4.28%. Lafayette Federal Credit Union has both.
• Two institutions still offer the 4.65% CD rate, which is the highest in the country. INOVA Federal Credit Union (INOVA) and OMB (OMB) will both guarantee that APY during the 7-month period.
• For a rate locked into 2026, both Abound Credit Union and Vibrant Credit Union pay 4.60%—for 10 months or 13 months, respectively.
• Five offers guarantee CD rates at 4.60% or more for 6 to 12 months.
• The Fed is still in “wait and see” mode in regards to 2025 rate reductions. It’s a good idea to lock in today’s best CDs, given the uncertain economy.

Below you'll find featured rates available from our partners, followed by details from our ranking of the best CDs available nationwide.

Rates as low as 4.50% and as high as 4.65% can be guaranteed as far as 2026

The top CD rate in the nation, 4.65%, remained unchanged today. INOVA Federal Credit Union, OMB and both offer this APY for seven months, locking in the return until this fall.

Two top CDs offer 4.60% if you want to extend your rate lock beyond 2026. Abound Credit Union offers this rate for a duration of 10 months, while Vibrant Credit Union matches it for 13-months.

There are 21 CDs that pay at least 4.50%. The longest term of these is 18 months. This CD can be purchased from XCEL Federal Credit Union. It will lock in the rate until October next year.

All Institutions Federally Insured Are Equally Protection

You are protected by the U.S. Government in the unlikely event that an institution fails. Not only that, but the coverage is identical—deposits are insured up to $250,000 per person and per institution—no matter the size of the bank or credit union.

Consider a longer-term CD to guarantee your rate further into the future

Lafayette Federal Credit Union offers 4.28% APY on a 24-month rate lock that will last until 2027. Genisys Credit Union offers 4.32% over 30 months for a 3-year term.

The top 4-year and 5-year certificates are a good option for CD buyers who want a longer guarantee. Vibrant Credit Union is paying 4.40% APY for 48 months, while Lafayette Federal Credit Union promises 4.28% APY for 60 months—ensuring you’d earn well above 4% all the way until 2030.

Given the possibility that the Fed could cut rates in 2025, or even 2026, it is probably a good idea to buy multiyear CDs right now. The central banks has already reduced the federal funds rate a full percentage points, and there may be more cuts this year. The Fed’s interest rate reductions will lower bank APYs, but a CD rate that you secure today will remain yours until it matures.

Today's Best CDs Still Pay Historically High Returns

It's true that CD rates are no longer at their peak. The best CDs are still offering a great return, despite the recent pullback. The best CD rates in October 2023 were above 6%. However, the current leading rate is only 4.65%. Compare this to early 2022 before the Federal Reserve began its rapid-fire rate-hike campaign. The highest interest rate you could earn on the best CDs was 0.70% APY.

Jumbo CDs Outperform Regular CDs by 3 Terms

Jumbo CDs require much larger deposits and sometimes pay premium rates—but not always. In fact, for half the terms we track, the best rates on jumbo CDs are lower than those on standard CDs.

Lafayette Federal Credit Union, in its 2- and 5-year terms offers 4.33% APY on a jumbo CD. This compares to 4.28% APY from another credit union (also Lafayette!) For the highest standard interest rate, Hughes Federal Credit Union offers 4.34% for a 3-year jumbo CD compared to 4.32% (also from Lafayette!) Hughes Federal Credit Union offers a 3-year Jumbo CD at 4.34%, compared to 4.32%, for the highest standard rate. The top 18-month CDs offer the same 4.50% annual percentage yield (APY) as the top standard CD.

When shopping for CDs, it is wise to always compare both types. If you find that a standard CD offers the best price, simply open it and deposit a large amount.

Where will CD rates be heading in 2025

In December, Federal Reserve announced the third rate reduction to the federal fund rate in as few meetings. This is a full percentile point decrease since September. In January and March, however, the central banks declined to further reduce the benchmark rate.

The Fed’s three 2024 rate cuts represented a pivot from the central bank’s historic 2022–2023 rate-hike campaign, in which the committee aggressively raised interest rates to combat decades-high inflation. At its 2023 peak, the federal funds rate climbed to its highest level since 2001—and remained there for nearly 14 months.

Fed rate changes are important for savers because they reduce the rates that banks and credit unions will pay consumers to deposit their money. The fed funds rate is reflected in both CD rates and savings accounts.

Time will tell what exactly will happen to the federal funds rate in 2025 and 2026—and economic policies from the Trump administration have the potential to alter the Fed's course. But with more Fed rate cuts possibly arriving this year, today's CD rates could be the best you'll see for some time—making now a smart time to lock in the best rate that suits your personal timeline.

Rankings for the Best CDs, Savings Accounts and Credit Cards.

We update this ranking every day of the week to provide you with the best rates for deposits.

• Best 3-Month CD rates
• Best 6-Month CD rates
• Best 1-Year CD rates
• Best CD Rates for 18-Months
• Best 2-Year CD rates
• Best 3-Year CD rates
• Best 4-Year Rates
• Best 5-Year Rates on CDs
• Best High-Yield Savings accounts
• Best Money Market Accounts

You can also read about the importance of this in

Note that the "top rates" quoted here are the highest nationally available rates Investopedia has identified in its daily rate research on hundreds of banks and credit unions. This is a much higher rate than the national average which includes all banks with a CD of that term. This includes many large banks who pay pittances in interest. The national averages are usually quite low while the best rates are often five, ten, or even fifteen times higher.

How we find the best CD rates

Investopedia monitors the rates of more than 200 banks, credit unions and other institutions that offer CDs in the United States and determines the daily rankings of the highest-paying certificates for each major term. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), the CD’s minimum initial deposit must not exceed $25,000, and any specified maximum deposit cannot be under $5,000.

Banks must be located in at least forty states. While some credit unions ask you to donate money to a charity or organization to become a membership if you do meet other eligibility requirements (e.g. if you live in a specific area or have a particular job), we exclude those credit unions that require a minimum donation of $40. To learn more about our methodology, please read the full article.

Article Sources Investopedia asks writers to use primary resources to support their writing. These include whitepapers, government data, original reports, and interviews with experts in the industry. We also use original research from other reputable publications when appropriate. Learn more about our standards for producing accurate and unbiased content by visiting our Editorial Policy

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

2. Federal Reserve Board. "Federal Reserve Issues FOMC Statement, Jan. 29, 2025."

3. Federal Reserve Board. "Federal Reserve Issues FOMC Statement, March 19, 2025."