Ranked: The Top CDs for Maximum Earnings

If you've been on the fence about getting a CD in 2024, your chances of snagging the best rates are getting slimmer. Already some of the top-ranking CD rates have started to drop, with others expected to follow suit later this year. While there are certainly many great CD offerings on the market today, it's safe to assume CD rates have peaked and will likely fall as the year marches on.

If you're wondering where you can find these great CD offers, here are six CDs that are still paying out at unbelievable rates.

All APYs are current as of Feb. 26, 2024.

1. Financial Partners Credit Union (6.50%)

Financial Partners Credit Union offers an 8-month CD with a 6.50% APY. The catch: The CD has a maximum deposit of $5,000. Plus, you have to be a new member to the credit union, which requires living, working, or going to school in an eligible county in California (Alameda, City of South San Francisco, Los Angeles County, Orange County, Riverside County, or San Diego County). Still, if you meet those requirements, you could earn a maximum of roughly $217 with this CD.

2. TotalDirectBank (5.51%)

TotalDirectBank has three short-term CDs that are worth considering:

• 3-month CD: 5.51%
• 6-month CD: 5.50%
• 12-month CD: 5.50%

These high rates, however, come with a high price: a minimum of $25,000 is required to open an account. It's a high threshold. But clear it if you can, as 5.50% APYs are slowly becoming a rarity.

3. State Bank of Texas (5.40%)

Everything is bigger in Texas, as they say, and this 1-year CD from the State Bank of Texas is proof of that. With a 5.40% APY, it's one of the top-paying CDs we've come across today, though you'll need a whopping $50,000 minimum deposit to open an account.

4. Bread Financial (5.25%)

Bread Financial has one of the most intriguing CD offers. It offers its 1-year Bread Savings CD with a 5.25% APY and minimum deposit of $1,500. That's not too shabby, but here's the punchline: If you set the CD to auto-renew, you'll get a 5.40% APY in the second year. That makes this CD one of the highest ranking 2-year CDs on the market.

5. Quontic Bank (5.30%)

Quontic Bank currently offers a 1-year CD with a 4.50% APY. This is one of the most accessible CDs on this list, as the minimum opening deposit is only $500.

6. NBKC Bank (5.25%)

NBKC Bank offers a 7-month special CD with a 5.25% APY and minimum opening deposit of $1,000. This is one of those top-ranking CDs that has recently seen its APY cut. In fact, it was only a few weeks ago that this CD was paying out at 5.50%. At that time, the bank was also offering an 11-month CD with a 5.50% rate. That same 11-month term is now paying out at 5%.

All things considered, if you want the best CD rates of 2024, I wouldn't hesitate to open an account. While there are certainly some great CD offers on the market today, it's likely banks will start cutting rates more frequently. Take a look at our list of best CDs and start earning high interest on your savings before it's too late.