Top Savings and CD Rates Decline as Federal Reserve Cuts Interest Rates

With three Federal Reserve rate cuts since late 2024, CD and savings rates remain historically high but are trending downward, prompting savers to consider locking in rates now.

• The Federal Reserve's recent rate cuts have caused a gradual decline in CD and savings account rates, with further reductions anticipated in 2025 and beyond.
• Nuvision Credit Union currently leads with a promotional 8-month CD offering a 5.50% APY, though it is capped at a $5,000 deposit and expires January 31, 2025.
• Top nationwide CD rates for terms between 1 and 5 years range from 4.35% to 4.55%, with Credit Human and Transportation Federal Credit Union among the best options.
• Short-term CDs may appeal to those uncertain about future rate trends, while multi-year CDs offer stability for savers expecting continued rate decreases.
• High-yield savings accounts and money market accounts remain competitive, with rates up to 4.75%, though these are subject to change without notice.

4 Articles

Investopedia Investopedia Investopedia Business Insider