Overview

• 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.