Current CD Rates: March 2024

CD rates — both high yield and national averages — remain high but may fall soon. See rates by CD term below.
Spencer Tierney
By Spencer Tierney 
Updated
Edited by Sara Clarke

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The best CD rates remain above 5% annual percentage yields, particularly for six-month through one-year terms. The best CD rates for terms of three years or longer tend to be closer to4% APY. Some of the mid- to low-5% short-term rates have begun to drop gradually, according to a NerdWallet analysis. Skip down to see current CD rates.

» COMPARE: Check out our best CD rates

Online-only banks and credit unions continue to have the most competitive interest rates on certificates of deposit, but these high-yield CD rates have mostly started to drop as the Federal Reserve keeps the federal funds rate steady. The last Fed rate increase was July 2023. See where rates are going on on our CD rate forecast.

High CD rates for now

CD rates have started to dip and may continue to fall, especially if the Fed decides to drop its rate. Learn why now might be the best time to get high CD rates, if they work for your savings goals.

National average CD rates have also been higher than they’ve been in the past decade, though they 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 early 2021. If the Fed starts to cut its rate this year, as expected, CD rates may fall. (See more details about historical CD rates to see more context.)

High-yield CD rates today can be several times the national average of 1.38% APY for five-year terms and the national average of 1.81% 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.

CD rate trends 2024: Higher short-term 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.

Current promotional CD rates

The following promotional CD rates stand out based on NerdWallet’s data analysis in March 2024. 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)

Bank of America: 7-month CD

4.75% APY.

U.S. Bank: 7-month CD

Up to 4.75% APY (Varies by location).

EverBank (formerly TIAA Bank): 9-month CD

5.15% APY.

Live Oak Bank: 9-month CD

5.15% APY.

Capital One: 10-month CD

5.10% APY.

NBKC Bank: 11-month CD

5.00% APY.

BMO: 13-month CD

4.90% APY.

Ally Bank: 14-month CD

4.55% APY (expires 3/20/24).

5.00% APY (annual percentage yield) as of 03/20/2024. Special offer expires 4/17/2024. APY may change before CD is opened and funded. APY.

Service Credit Union: 15-month Certificate

5.15% APY.

PenFed Credit Union: 15-month Certificate

4.20% APY.

Current CD rates: high-yield and national averages by term

Here’s a sample of three high-yield CD rates per term, compared to the national average, at various online banks and credit unions.

CURRENT CD RATES: 3-month

Popular Direct

5.25% APY.

Alliant Credit Union

4.25% APY.

EverBank (formerly TIAA Bank)

3.95% APY.

National average for 3-month CD

1.66%.

CURRENT CD RATES: 6-month

Popular Direct

5.30% APY.

BMO Alto

5.15% APY.

Alliant Credit Union

4.75% APY.

National average for 6-month CD

1.52%.

CURRENT CD RATES: 1-year

Popular Direct

5.20% APY.

BMO Alto

5.05% APY.

Bread Savings™

5.25% APY*.

National average for 1-year CD

1.81%.

CURRENT CD RATES: 3-year

Popular Direct

4.55% APY.

BMO Alto

4.50% APY.

Bread Savings™

4.25% APY*.

National average for 3-year CD

1.38%.

CURRENT CD RATES: 5-year

Popular Direct

4.30% APY.

BMO Alto

4.50% APY.

Bread Savings™

4.15% APY*.

National average for 5-year CD

1.38%.

“National average” refers to the Federal Deposit Insurance Corp. national averages.

Breads Savings says: "All Bread Savings APYs are accurate as of 02/01/24. APYs are subject to change at any time without notice. Offers apply to personal accounts only. Fees may reduce earnings. To open a CD, a minimum of $1,500 is required and must be deposited in a single transaction. A penalty will be imposed for early withdrawals on CDs. At maturity, your CD will automatically renew and earn the base interest rate in effect at that time."

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» Want to see a wider pool of high rates? See our list of the best high-interest accounts

» Want to take a quiz? See what bank is best for you below (or read full quiz instructions here)

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