If rates drop, you may wish you’d chosen a longer CD If rates rise, you may miss out on a higher rate Interior Federal Credit Union – 5.69% APYĮarly withdrawal of the funds will incur a penalty.Langley Federal Credit Union – 5.70% APY.

In cases where more than one institution pays the same rate, we've prioritized CDs by the shortest term, then the CD requiring a smaller minimum deposit, and if still a tie, alphabetically by institution name. You can find our ranking of the top-paying CDs with terms of 10-14 months below. CD rates closely follow the fed funds rate, so if the Fed implements a further increase, that could nudge CD rates higher still. 1-after 11 hikes in the previous 12 meetings-it has indicated that an additional increase is still on the table. Though the Fed held its benchmark rate steady for a second consecutive meeting on Nov. Today’s CD rates are higher than we’ve seen in more than 20 years, pushed up by the Federal Reserve’s rate-hike campaign that began in March 2022 to tame decades-high inflation.

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