A certificate of deposit (CD) is a time deposit account. A bank agrees to pay interest at a certain rate if savers deposit their cash for a set term, or period of time.

Find current CD rates and recent interest rate trends from Bankrate below. Here are the current average rates for the week of Dec. 7:

  • 1-year CD rate: 1.23%
  • 5-year CD rate: 1.08%
  • 1-year jumbo CD rate: 1.28%
  • 5-year jumbo CD rate: 1.11%
  • Money market account rate: 0.25%

The national average rate for one-year and five-year CDs started to increase in February, driven in part by rising Treasury yields and expectations of Federal Reserve rate increases in 2022.

The Fed raised rates in March, May, June, July, September and November. These are the first rate increases since 2018, and inflation remains high.

Latest CD rates: 3-month trend

 

Date 1-year CD 5-year CD 1-year jumbo 5-year jumbo Money market account
12/07/2022 1.23% 1.08% 1.28% 1.11% 0.25%
11/30/2022 1.20% 1.06% 1.24% 1.09% 0.25%
11/22/2022 1.18% 1.06% 1.22% 1.09% 0.25%
11/16/2022 1.15% 1.04% 1.19% 1.07% 0.19%
11/9/2022 1.12% 1.02% 1.16% 1.05% 0.17%
11/2/2022 1.10% 1.02% 1.14% 1.05% 0.17%
10/26/2022 1.05% 1.00% 1.09% 1.03% 0.16%
10/19/2022 1.03% 0.99% 1.07% 1.02% 0.16%
10/12/2022 0.97% 0.93% 1.00% 0.95% 0.15%
10/05/2022 0.96% 0.91% 1.00% 0.94% 0.15%
09/28/2022 0.82% 0.87% 0.86% 0.90% 0.14%
09/21/2022 0.78% 0.84% 0.82% 0.87% 0.13%
09/14/2022 0.76% 0.83% 0.81% 0.85% 0.13%
09/07/2022 0.65% 0.74% 0.69% 0.77% 0.13%

There’s no need to stick with low rates. Here are some of the best CD rates by term from popular banks:

Compare current CD rates by term for November 2022

Current CD rates: 6-month

  • Popular Direct: 4.25% APY
  • First Internet Bank of Indiana: 4.07% APY
  • Bask Bank: 4.00% APY
  • Bank5 Connect: 3.80% APY
  • Synchrony Bank: 3.50% APY
  • Sallie Mae Bank: 3.50% APY

See additional best 6-month CD rates.

Current CD rates: 1-year

  • First Internet Bank of Indiana: 4.59% APY
  • Bread Savings (formerly Comenity Direct): 4.50% APY
  • Sallie Mae Bank: 4.25% APY
  • Synchrony Bank: 4.15% APY
  • Bask Bank: 4.10% APY

See additional best 1-year CD rates.

Current CD rates: 3-year

  • Sallie Mae Bank: 4.50% APY
  • First Internet Bank of Indiana: 4.44% APY
  • Synchrony Bank: 4.30% APY
  • Capital One: 4.15% APY
  • LendingClub Bank: 4.10% APY

See additional best 3-year CD rates.

Current CD rates: 5-year

  • Bread Savings (formerly Comenity Direct): 4.75% APY
  • Sallie Mae Bank: 4.55% APY
  • Popular Direct: 4.50% APY
  • First Internet Bank of Indiana: 4.39% APY
  • Synchrony Bank: 4.30% APY

See additional best 5-year CD rates.

Note: Annual percentage yields (APYs) shown are as of Dec. 8, 2022, and apply to balances of $25,000. APYs for some products may vary by region.

Current CD rates FAQs

Learn more about other CD terms: