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Key Takeaways
- The Fed cut rates last week, but many of the top nationwide CDs are still available—letting you lock in mid-4% returns well into 2026.
- Longer-term CDs may also be smart if Fed makes further reductions this year and beyond.
- Banks can change or withdraw CD offers without warning, so it pays to act quickly when a top-paying CD matches your financial timeline.
The full article continues below these offers from our partners.
You Can Still Earn an Excellent APY on Your Savings, Despite Fed Cuts
The Federal Reserve trimmed its benchmark rate by a quarter point last week—the second cut this fall. Because the move was widely expected, many banks and credit unions had already priced it in, leaving the top savings account rate and many of the best CD offers still in place this week.
While the Fed’s actions are putting gentle downward pressure on savings and CD yields, APYs remain historically attractive. It’s important not to lose sight of the fact that the central bank’s moves will likely cause rates to drift lower, not plunge—leaving savers a valuable window to capture solid returns.
Why This Matters
Money in a savings account earns a variable rate, which can change at any time. CDs, on the other hand, let you lock in a guaranteed rate—so your savings can keep earning one of today’s top yields well into the future.
CD Yields up to 4.50% Can Be Secured Into 2026
For the last 10 days of October, our best CD rates leaderboard was led by a 7-month CD paying 4.40% APY. But this week, the leading rate actually ticked up when Nuvision Credit Union unveiled a new 4.50% certificate. The promo CD is capped at a maximum deposit of $5,000, but its 4-month term would lock in your yield until March 2026.
If you want to make a larger deposit or secure a guaranteed rate further into the future, you still have plenty of options in the lower to mid-4% range. In addition to Nuvision’s chart-leading rate, our daily ranking of the best nationwide CDs includes nine more offers that pay 4.25%.
Among the standouts are two 13-month CDs—one from Genisys Credit Union paying 4.30% and one from Hyperion Bank paying 4.25%. These leaders in the 1-year term let you lock in these high rates until almost Christmas 2026.
For cash you want to keep flexible
The top savings accounts still pay up to 5%, but those rates could slip at any time. See our daily ranking of the best high-yield savings accounts for the latest APYs.
With More Fed Cuts Possible, Should You Lock In Longer?
Even with today’s top CD rates still holding strong, much of what happens next will depend on the Federal Reserve’s path. Right now, markets are pricing in roughly 65% odds of another quarter-point rate cut in December. But at his press conference following last week’s rate decision, Fed Chair Jerome Powell made clear that another cut this year is far from certain.
That’s because the Fed is facing a tricky balancing act. Inflation has been picking up again even as job growth shows signs of slowing, pulling the central bankers in two different directions. Lowering the Fed’s rate too quickly could push inflation higher, but holding steady might further weaken the labor market.
Given this uncertainty, it may pay to lock in a multi-year CD while rates are still so strong. Though no one knows for sure if the Fed will keep cutting, CDs paying 4%-plus offer attractive guaranteed returns. So, if your timeline allows, putting some savings into a 2-year or longer CD could boost your earnings over time—while waiting too long could mean settling for lower future yields.
Daily Rankings of the Best CDs and Savings Accounts
We update these rankings every business day to give you the best deposit rates available:
Important
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 much different than the national average, which includes all banks offering a CD with that term, including many large banks that pay a pittance in interest. Thus, the national averages are always quite low, while the top rates you can unearth by shopping around are often 5, 10, or even 15 times higher.
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. It also cannot specify a maximum deposit amount that’s below $5,000.
Banks must be available in at least 40 states to qualify as nationally available. 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.
