Highest cd interest rate12/9/2023 ![]() ![]() In turn, it's created record rate conditions for CD shoppers, as well as for anyone holding cash in a high-yield savings or money market account. That raises the benchmark rate to its highest level since 2001. ![]() On July 26, the Fed bumped rates for the 11th time in 12 meetings, taking the cumulative increase to 5.25%. The Fed has been aggressively combating decades-high inflation since March of last year, with fast-and-furious 2022 hikes to the federal funds rate, and then easing to more moderate increases in 2023. So always be sure to shop every certificate type before making a final decision. Though today's best jumbo offers, which typically require a deposit of $100,000 or more, beat the best standard rates in six CD terms, you can do just as well or better in the other two terms with a standard CD. Despite the suggestion that a larger deposit entitles you to a higher return, that's not always the case for jumbo certificate rates, which often pay less than standard CDs. ![]()
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