"Comparing CD and Savings Account Rates: August 9, 2023"

The top nationwide rate on a certificate of deposit (CD) remains at 5.75% APY, but the only option available at that rate is a 9-month certificate from Andrews Federal Credit Union. However, there are 20 other options that offer rates of 5.50% APY or better. The longest term to earn 5.00% or more is three years, with a rate of 5.13% APY, unless you have a jumbo-sized deposit that qualifies you for 5.12% APY on a 4-year term. The Federal Reserve's next meeting on interest rates is in six weeks, and it is uncertain if rates will be raised again this year.