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Best CD rates of December 2024 (Up to 5.25%)

Updated Dec. 9, 2024

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Opening a certificate of deposit (CD) allows you to lock in an attractive fixed rate and earn higher returns compared to traditional savings accounts, while providing FDIC or NCUA insurance protection and guaranteed growth for a set period of time. Currently, the best CD rates range from 4.30 percent APY to 5.25 percent APY. This top rate is offered by Langley Federal Credit Union for a 10-month term, and is roughly three times higher than the national average of 1.74 percent on a one-year CD. Before opening a certificate of deposit, be sure to read expert advice and tips below to ensure a financially safe decision.

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Current 1 year CD trends
Bankrate Partner average
4.30% APY
National average
1.74% APY

Best CD rates from top banks for December 2024

Note: Annual percentage yields (APYs) shown were updated between Dec. 4 and Dec. 10. All other information is current as of Dec. 9. Bankrate's editorial team validates this information regularly, typically biweekly. APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes only FDIC banks or NCUA credit unions in its listings.

Quontic Bank

Rating: 4.3 stars out of 5
4.3 Bankrate CD score
  • Annual percentage yield

    3.00% – 4.50%
  • Min. deposit to open

    $500
  • Term

    3 months - 5 years

Why Quontic Bank?

Quontic Bank offers six terms of CDs, ranging from three months to five years, that require $500 to open. The rates for all six terms are very competitive.

Popular Direct

Rating: 3.8 stars out of 5
3.8 Bankrate CD score
  • Annual percentage yield

    4.15% – 4.50%
  • Min. deposit to open

    $10,000
  • Term

    1 year - 5 years

Why Popular Direct?

Popular Direct is an online bank and a subsidiary of Popular Inc., a more than 130-year-old financial services company. Popular Direct was previously known as Banco Popular North America. Popular Direct offers CDs in eight terms ranging from three months to five years. With a $10,000 minimum deposit to open, these CDs are geared toward serious savers. Interest compounds daily. Popular Direct doesn’t offer specialty CDs, such as bump-up or no-penalty CDs. It does offer a savings account with a competitive rate.

America First Credit Union

Rating: 5 stars out of 5
5.0 Bankrate CD score
  • Annual percentage yield

    4.15% – 4.45%
  • Min. deposit to open

    $500
  • Term

    1 year - 5 years

Why America First Credit Union?

America First Credit Union offers a wide range of CD terms between three and 60 months, and all earn rates that are highly competitive. Also offered are specialty CDs such as a bump-rate CD and a flexible CD. All CDs require a manageable minimum opening deposit.

Synchrony Bank

Rating: 4.8 stars out of 5
4.8 Bankrate CD score
  • Annual percentage yield

    0.25% – 4.30%
  • Min. deposit to open

    $0
  • Term

    3 months - 4 years

Why Synchrony Bank?

Synchrony Bank offers many regular CDs ranging from three months to five years. It also added a no-penalty CD and a bump-up CD earlier this year. Synchrony Bank also offers IRA CDs.