Locking in a rate close to this high will maximize your returns on this longer-term investment. The current national high for a 24-month CD is 5.22% APY. The national average APY is 1.48%, an increase of one basis point from last week and six basis points from one month ago. Yields on longer-term CDs, such as two-year terms, are also on the rise. The current national high for a 12-month CD is 5.37% which would earn more than $1,340 in interest with a $25,000 deposit.

The national average APY is 1.51%, up two basis points from last week and eight basis points from a month before. One-year CDs can give you returns as high as, or even higher than, longer-term options. If you’re up for setting aside your savings for a full year, you’ll be able to find even more impressive rates. You’d earn almost $670 in interest if you put $25,000 in a six-month CD with a rate of 5.41%. But you may be able to find better deals by shopping around. The current top national rate for a 6-month CD is 5.41%, according to the data available from Curinos. The national average APY for six-month CDs is 1.24%, up from 1.21% last week and 1.11% one month ago. The top six-month CDs can offer the best of both worlds: strong interest rates and a short-term commitment. The current national high for a three-month CD is 5.15%, which would earn more than $315 in interest with a $25,000 deposit. The national average rate was 0.83% as of May 25, 2023, the latest data available, up one basis point from the previous week and up 17 basis points from a month prior. Rates on three-month CDs have increased slightly from a week ago. Quoted rates are based on a $25,000 deposit.

Best local cd interest rates