21 December 2024

Competitive Certificate of Deposit Rates as of September 30, 2024

Discover competitive CD rates as of September 30, 2024. Learn about average and top rates for 3-month, 6-month, 1-year, 24-month, and 36-month CDs.

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Certificates of Deposit (CDs) present a reliable option for those seeking low-risk investments to earn interest on funds that are not needed in the immediate future.

According to data from Curinos, as of September 27, 2024, rates on three-month CDs have seen a slight decrease of two basis points, now standing at 1.32% APY. This rate remains unchanged from the previous month.

Currently, the national high for a three-month CD is 5.39%, which could yield over $330 in interest on a $25,000 deposit.

For those considering six-month CDs, this option offers a favorable mix of solid interest rates with a short-term commitment. The national average APY for six-month CDs is 1.85%, a minor drop from 1.88% last week and 1.87% a month prior. The top national rate for a six-month CD is 5.25%, and savvy savers might find even better deals by shopping around. Investing $25,000 in a six-month CD at this rate could earn you nearly $650 in interest.

If you can set aside your savings for a full year, one-year CDs offer even more attractive rates. However, rates on 12-month CDs are on the decline, with the national average APY currently at 1.91%, down five basis points from last week and six from the previous month. The highest national rate for a 12-month CD is 5.37%, which could generate over $1,340 in interest on a $25,000 deposit.

Longer-term CDs have also seen a drop in interest rates. The national average APY for 24-month CDs is 1.66%, down three basis points from last week and four from a month ago. The current national high for a 24-month CD is 4.76%. Investing $25,000 at this high rate could yield approximately $2,440 in interest.

For three-year CDs, the national average APY is 1.59%, down two basis points from last week and from 1.62% a month ago. The highest rate available is 4.65%, which would net nearly $3,651 in interest on a $25,000 investment.

Curinos focused on personal-use CDs to establish average rates, excluding specific categories such as promotional offers, relationship-based rates, and others. The average CD rates mentioned above are based on a $25,000 deposit.