Best CD Rates for March 2024

Find the highest CD rates available today in our guide.

Wooden blocks spell CDS in front of stacks of coins. (CD rates)
(Image credit: Getty Images)

Since last year, savings rates on high yield savings accounts and CDs have been continually rising, with rates on many top-earning accounts offering APYs of over 4% and 5%. Typically, long-term CDs offer higher rates than short-term CDs, but the market is currently experiencing what is known as an “inverted yield curve,” meaning you’ll earn more from a 1-year CD compared to a 5-year CD

This is great news; you can now invest your cash in a CD with a high rate of return, without having to keep it locked up for an overly long period of time. Rates on long-term CDs are still high though, so if you are looking for a longer-term investment option, you’ll be able to score rates of over 4%. And rates could even go up further. 

Here are some of the best CD rates available now, sorted by term length. Plus use our tool, in partnership with Bankrate, which automatically updates the rates ensuring you get the most up-to-date CD rates available.

CD rates have been rising in tune with higher interest rates. In an attempt to slow high inflation, the Federal Reserve has raised interest rates 11 times since March 2022. At their latest meeting the Federal Reserve decided to once again keep the federal funds rate steady. This fourth consecutive pause in rate hikes means the federal funds rate, a key bank lending rate, will remain at a target range of 5.25% to 5.5%, the highest it’s been in 23 years.  And rate cuts are expected later this year, meaning rates on savings accounts could also drop throughout 2024.

Best 3-month CD rates

Short term CD's, like 3-month or 6-month CDs, can be good options for individuals who don’t want to commit to having their cash tied up for long periods of time. However, it’s important to compare rates across accounts to be sure you’re getting the best return on your cash. For instance, you’ll likely be able to get a similar, or even higher, APY when opening a high-yield savings account or money market account. And with these types of savings vehicles, you won’t have to wait any time at all to withdraw funds from your account. But this can have a downside: it’ll be easier to make impulse purchases with cash in a high yield savings account than cash that’s tied up in a CD. You may also opt for a short-term CD if you predict falling interest rates. Since the APY of a CD account is fixed, your savings won’t be affected.  

Total Direct Bank

APY: 5.51% 

Minimum deposit: $25,000

Dow Credit Union

APY: 5.30% 

Minimum deposit: $500

iGObanking

APY: 5.00% 

Minimum deposit: $1,000

Interior Federal Credit Union

APY: 5.22% 

Minimum deposit: $500

Merrick Bank

APY: 5.25% 

Minimum deposit: $25,000

All In Credit Union

APY: 5.12%

Minimum deposit: $1,000

Brilliant Bank

APY: 5.10%

Minimum deposit: $1,000

Best 6-month CD rates

Andrews Federal Credit Union

APY: 5.75% (Limited-time only)

Minimum deposit: $1,000

Genisys Credit Union

APY: 5.25% (7 month term)

Minimum deposit: $500

BMO Alto

APY: 5.50%

Minimum deposit: $0

Total Direct Bank

APY: 5.50%

Minimum deposit: $25,000

Newtek Bank

APY: 5.55%

Minimum deposit: $2,500

All In Credit Union

APY: 5.33%

Minimum deposit: $1,000

Merrick Bank

APY: 5.25%

Minimum deposit: $25,000

Popular Direct

APY: 5.27%

Minimum deposit: $10,000

Best 1-year CD rates

CDs are good options for particular savings goals, like future purchases or events. For example, if you know you’ll purchase a new vehicle in three years, then keeping your cash in a 3-year CD makes sense. Or maybe you’re saving for next year’s vacation, in which case putting your cash in a 1-year CD account will help you maximize your savings with little effort. Just remember: you won’t be able to access your cash once it’s put into a CD account (unless you opt for a no-penalty CD account). For this reason, cash you’ll need access too, like savings in an emergency fund should be saved elsewhere. 

You may also want to open a number of CDs with varying maturity dates if you’re building a CD ladder. This is where you stagger, or ladder, maturities so that some are always coming due in the near future. For example, if you have $10,000 to invest, you could split it equally into five “rungs,” putting $2,000 into CDs with maturity dates a year apart. So, $2,000 in a 1-year CD, $2,000 in a 2-year CD and so on. When each CD matures, you’ll invest your cash, plus any earned interest, into another 5-year CD. You’ll then be left with five 5-year CDs, with one maturing each year, providing a consistent cash flow. 

See Kiplinger's full list of top earning 1-year CD rates.

Lafayette Federal Credit Union 

APY: 5.56%

Minimum Deposit: $500

TotalDirectBank

APY: 5.50%

Minimum Deposit: $25,000

Financial Resources Federal Credit Union 

APY: 5.43% (13 months)

Minimum Deposit: $500

Popular Direct

APY: 5.30%

Minimum Deposit: $10,000

Bread Financial

APY: 5.35%

Minimum Deposit: $1,500

BrioDirect

APY: 5.35%

Minimum Deposit: $500

CFG Bank

APY: 5.35%

Minimum Deposit: $500

All In Credit Union

APY: 5.17%

Minimum Deposit: $25

USAlliance Financial

APY: 5.20% 

Minimum Deposit: $500

Best 2-year CD rates

Pelican State Credit Union

APY: 5.27%

Minimum Deposit: $500

XCEL Federal Credit Union

APY: 5.25%

Minimum Deposit: $500

Lafayette Federal Credit Union

APY: 5.20%

Minimum Deposit: $500

Luana Savings Bank

APY: 4.96%

Minimum Deposit: $2,000

Prime Alliance Bank

APY: 4.50%

Minimum Deposit: $500

Popular Direct

APY: 4.70%

Minimum Deposit: $10,000

Best 3-year CD rates

See Kiplinger's full list of top earning 3-year CDs.

Lafayette Federal Credit Union

APY: 5.10%

Minimum Balance: $500

Transportation Federal Credit Union

APY: 5.00%

Minimum Balance: $1,00

Hughes Federal Credit Union

APY: 4.86%

Minimum Balance: $1,000

Luana Savings Bank

APY: 4.81%

Minimum Balance: $2,000

First Internet Bank

APY: 4.76%

Minimum Balance: $1,000

U.S. Senate Federal Credit Union

APY: 4.34%

Minimum Balance: $1,000

Prime Alliance Bank

APY: 4.25%

Minimum Balance: $500

Best 4-year CD rates

Lafayette Federal Credit Union

APY: 4.73%

Minimum Balance: $500

BMO Alto

APY: 4.60%

Minimum Balance: $0

First National Bank of America

APY: 4.55%

Minimum Balance: $1,000

First Internet Bank

APY: 4.55%

Minimum Balance: $1,00

ECFU Financial

APY: 4.50%

Minimum Balance: $500

Popular Direct

APY: 4.45%

Minimum Balance: $10,000

Wellby Financial

APY: 4.34%

Minimum Balance: $1,000

Best 5-year CD rates

A major benefit of opening a long-term CD is that you’ll be able to lock in rates while they’re high. Unlike rates on high yield savings accounts, which vary with the market, rates on CDs are locked-in when you open the account. For this reason, if you open a 5-year CD and then savings rates drop shortly after, your APY won’t be affected. The downside, however, is that your cash will be tied up for many years. If you needed to access this cash, the withdrawal fee could offset a good portion of any interest earned.  

See Kiplinger's full list of top earning 5-year CDs.

BMO Alto

APY: 4.60%

Minimum Balance: $0

First Internet Bank

APY: 4.61%

Minimum Balance: $1,000

First National Bank of America

APY: 4.55%

Minimum Balance: $1,000

Lafayette Federal Credit Union

APY: 4.53%

Minimum Balance: $500

BMO Harris

APY: 4.50%

Minimum Balance: $1,000

ECFU Financial

APY: 4.50%

Minimum Balance: $500

Popular Direct

APY: 4.45%

Minimum Balance: $10,000

MYSB Direct

APY: 4.31%

Minimum Balance: $500

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Erin Bendig
Personal Finance Writer

Erin pairs personal experience with research and is passionate about sharing personal finance advice with others. Previously, she was a freelancer focusing on the credit card side of finance, but has branched out since then to cover other aspects of personal finance. Erin is well-versed in traditional media with reporting, interviewing and research, as well as using graphic design and video and audio storytelling to share with her readers.