Current CD Rates: December 2023
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The best CD rates remain above 5% annual percentage yields, particularly for six-month through 18-month terms. The best CD rates for terms of three years or longer tend to be between 4% and 5% APY.
Online-only banks and credit unions continue to have the most competitive interest rates on certificates of deposit, but CD rate increases have slowed down in 2023 compared to 2022 as the Federal Reserve has raised the federal funds rate less aggressively this year. See where rates are going on on our CD rate forecast.
» Learn more: how Fed rate increases affect CDs
National average CD rates have also gone up, though still remain far lower than CDs at online institutions. The gradual rise of online high-yield CD rates started in July 2021, after a relatively low-rate environment in 2020 and 2021. (See more details about historical CD rates as you consider what to expect in the near future.)
High-yield CD rates today can be several times the national average of 1.39% APY for five-year terms and the national average of 1.85% APY for one-year terms. Unlike regular savings accounts, most CDs have fixed rates, so you can lock in a higher rate while it lasts.
Here's a look at current CD rates at some online banks and credit unions.
» Want to compare more CDs? Check out our best CD rates
CD rate trends 2023: 1-year and 18-month CDs
The current trend of shorter-term CD rates being higher than longer-term CD rates continues, both for national averages and among high-yield CDs. While seeing CD rates higher than 5% can be exciting, the term length is also important. You earn less interest with a six-month CD than a one-year CD with the same rate. To earn the best CD yields in this rate environment, consider two terms where there’s strong competition among banks: one-year and 18-month terms.
Here’s a sample of one-year and 18-month CDs at various banks:
Name (click to see our review) | 1-year CD rate | 18-month CD rate |
|---|---|---|
5.67% APY. | 5.50% APY. | |
5.55% APY. | 5.00% APY. | |
5.40% APY. | 5.10% APY. | |
5.30% APY. | 5.25% APY. | |
5.25% APY. | 5.00% APY. |
Current promotional CD rates
The following promotional CD rates stand out based on NerdWallet’s data analysis in December 2023. Expiration dates for a promo are shown when available.
In general, promotional rates tend to be for irregular CD terms and are featured on banking websites as a “promotional rate” or “CD special.” (For more details, see how promotional CD rates work.)
Name (click to see our review) | CD rate (or certificate rate) |
|---|---|
EverBank (formerly TIAA Bank): 9-month CD | 5.50% APY. |
Discover: 9-month CD | 5.30% APY. |
Consumers Credit Union: 10-month Certificate | 5.50% APY. |
BMO: 13-month CD | 5.25% APY. |
Ally Bank: 14-month CD | 5.25% APY (expires 3/20/24). |
NBKC Bank: 15-month CD | 5.40% APY. |
Service Credit Union: 15-month Certificate | 5.10% APY. |
PenFed Credit Union: 15-month Certificate | 5.35% APY. |
Connexus Credit Union: 17-month Certificate | 5.16% APY. |
Current online CD rates by term
Here’s a sample of five high-yield CD rates per term at various banks and credit unions.
CURRENT CD RATES: 3-month | |
Popular Direct | 5.10% APY. |
Lake Michigan Credit Union | 4.75% APY. |
Alliant Credit Union | 4.50% APY. |
EverBank (formerly TIAA Bank) | 4.00% APY. |
Ally Bank | 3.00% APY. |
» See more best 3-month CD rates | |
CURRENT CD RATES: 6-month | |
Popular Direct | 5.55% APY. |
Bask Bank | 5.55% APY. |
Vio Bank | 5.35% APY. |
BMO Alto | 5.50% APY. |
LendingClub Bank | 5.30% APY. |
» See more best 6-month CD rates | |
CURRENT CD RATES: 1-year | |
Popular Direct | 5.67% APY. |
BMO Alto | 5.65% APY. |
Bread Savings | 5.50% APY. |
Live Oak Bank | 5.40% APY. |
Connexus Credit Union | 5.01% APY. |
» See more best 1-year CD rates | |
CURRENT CD RATES: 3-year | |
BMO Alto | 4.90% APY. |
Popular Direct | 5.00% APY. |
Bread Savings | 4.50% APY. |
Self-Help Credit Union | 4.86% APY. |
Barclays | 4.50% APY. |
» See more best 3-year CD rates | |
CURRENT CD RATES: 5-year | |
BMO Alto | 4.90% APY. |
Bread Savings | 4.25% APY. |
Popular Direct | 4.70% APY. |
Self-Help Credit Union | 4.86% APY. |
Barclays | 4.50% APY. |
» See more best 5-year CD rates | |
Member FDIC
Marcus by Goldman Sachs High-Yield CD
5.30%
1 year
Bread Savings™️ CD
5.50%
1 year
Member FDIC
Barclays Online CD
5.50%
1 year
Member FDIC
Discover Bank CD
5.20%
1 year
Current CD Rates: Compare high-yield to national average rates
3-MONTH CD RATES | |
Online bank | 2.25% APY. |
National average | 1.62% APY. |
6-MONTH CD RATES | |
Online bank | 2.25% APY. |
National average | 1.43% APY. |
1-YEAR CD RATES | |
Online bank | 5.30% APY. |
National average | 1.85% APY. |
3-YEAR CD RATES | |
Online bank | 4.30% APY. |
National average | 1.39% APY. |
5-YEAR CD RATES | |
Online bank | 4.00% APY. |
National average | 1.39% APY. |
Online bank used for comparison is Synchrony Bank. “National average” refers to the Federal Deposit Insurance Corp. national averages. | |
» Want to see a wider pool of high rates? See our list of the best high-interest accounts
See CD rates by term and type
Compare the best rates for various CD terms and types:
How do CDs work?
Learn more about choosing CDs, understanding CD rates, and opening and closing CDs.
For choosing CDs:
» Want to take a quiz? See what bank is best for you below (or read full quiz instructions here)
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