What’s actually slowing this PC down?
Pick the symptom - the matching free tool is one click away.
The available figures for August 29, 2024, show a useful distinction: national CD averages were far below Treasury yields, but neither benchmark tells you the best CD offer a particular saver could actually get that day. A First Trust Advisors snapshot published August 26, with CD data current as of August 23, reported national averages of 1.81% for one-year CDs, 1.43% for three-year CDs, and 1.44% for five-year CDs. These are historical averages, not live rates or a ranking of top offers.
What were CD rates on August 29, 2024?
No complete, verified list of individual banks’ or credit unions’ best CD offers for that exact date is established here. The available figures are national benchmarks published or measured near August 29, and they should not be read as rates every saver could obtain.
| Measure | Rate | Date and what it represents |
|---|---|---|
| One-year CD national average | 1.81% | Bankrate national rate data cited in First Trust Advisors’ August 26, 2024 snapshot; data current as of August 23, not August 29. Source |
| Three-year CD national average | 1.43% | Bankrate national rate data cited in First Trust Advisors’ August 26, 2024 snapshot; data current as of August 23. Source |
| Five-year CD national average | 1.44% | Bankrate national rate data cited in First Trust Advisors’ August 26, 2024 snapshot; data current as of August 23. Source |
| 24-month CD national rate | 1.58% | FDIC monthly benchmark for August 2024; not an institution’s advertised offer. Source |
| 24-month CD national rate cap | 2.33% | FDIC August 2024 table figure. A rate cap is a regulatory benchmark, not a promise that a bank offered this rate to customers. Source |
The FDIC search result also surfaced a 5.90% cap figure, but its table-column meaning is not established here, so it should not be assigned a more specific label. Neither the average nor the cap identifies the highest available CD on August 29 or confirms a saver’s eligibility.
How did CD benchmarks compare with Treasury yields?
On August 29, 2024, the U.S. Treasury’s nominal daily yield curve listed 5.11% at three months, 4.42% at one year, and 3.87% at ten years. These are Treasury yields, not bank CD APYs, so they are context for the broader rate environment rather than competing CD offers. Treasury daily yield curve
#1 Best Overall
The Treasury’s three-month yield moved from 5.09% on August 28 to 5.11% on August 29, while its one-year yield rose from 4.40% to 4.42%. Those daily Treasury movements do not establish that any bank changed its CD rate by the same amount. Treasury daily yield curve
Why these figures are not a best-CD ranking
A national average summarizes rates across a market; it is not the best advertised rate. The FDIC’s national rate and cap are monthly benchmarks, not evidence of a specific institution’s offer. A true offer comparison for August 29 would need dated institution-level details such as APY, term, minimum deposit, early-withdrawal penalty, callable status, eligibility and geography, and deposit-insurance status. Those details are not established for a set of offers on that date.
Rank #2
- Ideal for Gifting
- Ideal for a bookworm
- Compact for travelling
The date matters: this is a historical snapshot for August 29, 2024. It cannot tell you what a bank offers now. Check an institution’s current disclosures and eligibility requirements before opening an account.
What to compare before opening a CD
A CD is a bank or credit-union savings account held for a specified term. Accessing the money before maturity generally triggers an early-withdrawal penalty. The CFPB recommends comparing the rate, term, and penalty; also examine the account’s minimum, callability, insurance coverage, and maturity terms. CFPB: What is a certificate of deposit?
- APY and term: Compare the annual percentage yield alongside the time your money will be committed. Longer terms may generally offer higher rates, but that does not make them the right choice for every saver. CFPB guidance
- Minimum and eligibility: Confirm the opening deposit, account requirements, and any location or customer restrictions in the current offer. A published rate does not prove you qualify.
- Early withdrawal penalty: Read how the institution calculates the penalty and whether withdrawing early could reduce interest or principal. CFPB guidance
- Callable status: A callable CD lets the issuer end the CD early; such CDs can carry higher rates because of that feature. Consider whether that trade-off suits your plans. CFPB guidance
- Deposit insurance: Qualifying bank CDs are insured up to $250,000 by the FDIC and qualifying credit-union CDs up to $250,000 by the NCUA, subject to coverage rules. Confirm the institution and account’s coverage directly. CFPB guidance
Check renewal terms before a CD matures
A CD may renew automatically. The CFPB says the institution must send written notice before maturity, and the rate on a renewed CD is not guaranteed to match the old rate. Read the notice and the current offer so you can decide whether to renew or move the money. CFPB: What happens when my CD matures?
Quick Recap
Best Value
- It can be a gift option
- Comes with secure packaging
- Helpful in various ways
Rank #4
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
