Yields on longer-term CDs, such as two-year terms, are also on the rise.

The current national high for a 12-month CD is 5.37% which would earn more than $1,340 in interest with a $25,000 deposit. The national average APY is 1.54%, up three basis points from last week and eight basis points from a month before. One-year CDs can give you returns as high as, or even higher than, longer-term options. If you’re up for setting aside your savings for a full year, you’ll be able to score even more impressive rates. You’d earn almost $670 in interest if you put $25,000 in a six-month CD with a rate of 5.41%. But you may be able to find better deals by shopping around. The current top national rate for a 6-month CD is 5.41%, according to the data available from Curinos’ database. The national average APY for six-month CDs is 1.27%, up somewhat from 1.25% last week and 1.17% one month ago. When you opt for leading six-month CDs, you get a winning combination: solid interest rates and a commitment that’s only short-term. The current national high for a three-month CD is 5.83%, which would earn more than $355 in interest with a $25,000 deposit. The national average rate was 0.86% as of June 6, 2023, the latest data available, up two basis points from the previous week and up seven basis points from a month prior. Rates on three-month CDs have increased slightly from a week ago. Quoted rates are based on a $25,000 deposit.

Typical cd interest rate