Several banks have lowered their long-term CD rates recently, and experts expect rates will continue to decline over the next several months. 27, rates have gone down slightly for one- and three-year CDs, continuing the trend we’ve seen over the past few weeks. Here’s where rates stand compared to last week: Term As a result, banks have begun easing their rates. This rate affects how much it costs banks to borrow and lend money, so the higher it is, the higher banks raise their CD rates to attract new customers (and their money).īut with inflation finally cooling, the Fed has opted to pause rate hikes at its last two meetings. Where are CD rates heading?ĬD rates have steadily increased since March 2022 as the Federal Reserve regularly raised the federal funds rate to combat inflation. Earnings are based on APYs and assume interest is compounded annually. 1, 2023, based on the banks we track at CNET. See the Personal Deposit Account Agreement for more details about eligibility.ĤPartial and full withdrawals may be made without penalty during a ten (10) day grace period that begins on each anniversary of the account opening date.Here are some of the top CD rates available right now and how much you could earn if you deposited $5,000 today.

Please refer to the Personal Deposit Account Agreement for information on early withdrawal penalties and relationship rate eligibility.ģ To qualify for the relationship rate, customers must own an eligible TD Bank personal checking account in good standing at the time of CD account opening or renewal. To qualify for the relationship rate, customers must own an eligible TD Bank personal checking account in good standing at the time of CD or IRA CD account opening or renewal. Posted rates on this page are subject to change at any time without notice.

Penalties for early withdrawal may apply. 1TD Choice Promotional CDs and IRA CDs will automatically renew at maturity to the same term at the non-promotional TD Choice CD or IRA CD interest rate and APY in effect at the time of renewal unless we notify you otherwise.ĢAnnual Percentage Yield (APY) is accurate as of and assumes that interest and principal will remain on deposit until maturity.

Best interest rates for cd accounts