CD Rates Update: June 2, 2023

The highest CD rate available nationally is 5.65% APY for a 9-month term, with 21 CDs offering at least 5.25% APY. For longer terms, a 3-year CD pays 5.13% APY and a jumbo 4-year certificate pays 5.12% APY with a $100,000 minimum deposit. CD rates are closely tied to the Federal Reserve's decisions, and with a possible pause in rate hikes, CD rates could plateau or continue to climb higher. Investopedia tracks the rate data of over 200 banks and credit unions to determine daily rankings of the top-paying certificates in every major term.