"April 2023's Top CD and Savings Account Rates"

Three financial institutions now offer 5.25% APY on CDs in the 6-month category, while the top rate for any CD today is still 5.50% APY, which you can get on a 2-year term. Most of the top CD rates are offered by credit unions, and the best rate you can get from a bank CD is 5.25% on 9-month and 18-month terms. CD rates have risen dramatically throughout 2022 and 2023, but with the chance that the Federal Reserve will slow or stop rate hikes this year, we may see less movement, if not more rate drops.