Deposit Diary Daily #78

Best Nationally Available CDs (8 August 2024)

CD Rates – What Goes Up …

The federal funds rate (5.25% to 5.50%) remained unchanged following the July Fed meeting, but it’s more than likely there will be a rate cut in September. In anticipation of a probable rate cut, CD rates seem to be in a state of flux: about half of the CDs listed in last week’s Deposit Quest CD Summary experienced a rate decrease.

Some of the banks and credit unions that lowered their CD rates include,

• Credit Human

• Crescent Bank

• First Internet Bank

• First National Bank of America

• Luana Savings Bank

• My eBanc

• Seattle Bank

• TotalDirectBank

Highest Rate Nationally Available CDs

The highest-rate nationally available CDs from banks and credit unions as of August 8, 2024 are listed below.

5-9 Month CDs

Vibrant Credit Union • 5.50% ($5) • 9-month CD

EagleBank • 5.38% ($1k) • Personal 6-month CD (not available in CA, NV, or VT)

1-Year CDs

EagleBank • 5.38% (↓2 bps) ($1k) • Personal 12-month CD (not available in CA, NV, or VT)

Veridian Credit Union • 5.30% ($100k) • 12-months CD Special (rate may be 5.10% in some areas)

18-month CDs

Jovial Financial Credit Union • 5.30% ($100) • 15-month Certificate (new product)

Sallie Mae Bank • 5.15% ($2.5k) • 15-month CD

2-Year CDs

Credit Human • 5.00% (↓5 bps) ($500) • 18-23 month Share Certificate

Luana Savings Bank • 4.86% (↓10 bps) ($100k), 4.70% (↓11 bps) ($2k) • 24-month Special Certificate of Deposit

3-Year CDs

Vibrant Credit Union • 5.00% ($5) • 30-month CD

Luana Savings Bank • 4.70% (↓16 bps) ($100k), 4.55% (↓15 bps) $2k) • 30-month Certificate of Deposit

4-Year CDs

Credit Human • 4.60% (↓5 bps) ($500) • 36-59 month Share Certificate

The Federal Savings Bank • 4.55% ($5k min) • 4-year CD Special Promotion

5-Year CDs

Credit Human • 4.60% (↓5 bps) ($500) • 36-59 month Share Certificate

BMO Alto • 4.45% (no min) • 60-month Online CD

Over 5-Year CDs

Department of Commerce Federal Credit Union • 4.44% ($25k) • 4.34% ($500) • 60-84 Month Share Certificate

First National Bank of America • 4.06% (↓24 bps) ($1k) • 72-months Time Certificate of Deposit

The attached spreadsheet shows the top ten nationally available CDs (five from banks/five from credit unions). The links go directly to each financial institution’s rate page or product landing page.

The spreadsheet also lists the 23 CDs from the August 8 survey that have been deleted because of availability (3), rate decreases (19) or an uncompetitive rate (1).

Dq Cd Rates 8 August 2024

20.4KB ∙ XLSX file

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