On December 16, 2024, the FDIC’s national average rate for a 12-month CD was 1.83%, while GOBankingRates reported a highest listed one-year offer of 4.60% APY from Eagle Bank. The same roundup’s top APY among its listed terms was 4.75% for a six-month CD at Amerant Bank. These are historical figures, not rates available today.
What “CD rates today” meant on December 16, 2024
There was no single rate that represented every CD. The FDIC’s national averages describe deposit rates across institutions; GOBankingRates’ roundup identifies selected advertised high APYs by term. For a one-year CD, the FDIC average was 1.83%, while the roundup’s highest listed offer was 4.60% APY. The two figures measure different things and should not be treated as competing quotes for the same account.
The roundup’s highest listed rate across the terms it covered was 4.75% APY for a six-month CD at Amerant Bank. GOBankingRates said it analyzed banks and credit unions with nationwide availability, focused on APY, and included institutions insured by the FDIC or National Credit Union Share Insurance Fund. Its accuracy date was December 16, 2024. A roundup listing does not establish that every reader qualified for an offer or that it remains available.
FDIC national CD averages
The FDIC rate table, revised December 16, 2024, reported these national deposit averages:
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| CD term | FDIC national average |
|---|---|
| 1 month | 0.23% |
| 3 months | 1.50% |
| 6 months | 1.65% |
| 12 months | 1.83% |
| 24 months | 1.52% |
| 36 months | 1.33% |
| 48 months | 1.24% |
| 60 months | 1.32% |
These are not best-offer rates or a promise that a consumer could open a CD at the stated APY. For its national-rate calculation after April 1, 2021, the FDIC weights data by each institution’s share of domestic deposits; its CD rates represent averages of $10,000 and $100,000 product tiers. See the FDIC national rates and methodology.
Highest APYs in the dated roundup
GOBankingRates listed the following highest APYs by term on December 16, 2024:
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| CD term | Highest listed APY | Provider named | Roundup national average APY |
|---|---|---|---|
| 3 months | 4.65% | Dow Credit Union | 1.31% |
| 6 months | 4.75% | Amerant Bank | 1.85% |
| 1 year | 4.60% | Eagle Bank | 1.90% |
| 18 months | 4.44% | All In Credit Union | 1.83% |
| 2 years | 4.61% | Amboy Direct | 1.67% |
| 3 years | 4.15% | Merrick Bank | 1.58% |
| 5 years | 4.05% | Merrick Bank | 1.59% |
The national averages in this table are the roundup’s figures, not substitutes for the FDIC’s separately published rate table: the sources use different presentations and maturity rows. The provider APYs are historical reported offers, not verified current rates. See GOBankingRates’ CD rate roundup.
How Treasury yields fit into the comparison
On December 16, 2024, the Treasury’s daily table showed coupon-equivalent yields of 4.31% for 26-week Treasury bills and 4.24% for 52-week Treasury bills. These are yields on Treasury securities—not CD APYs, FDIC deposit averages, or offers from banks. They provide market context but are not a like-for-like substitute for comparing a CD’s term, insurance, access, and account conditions. The figures are in the U.S. Treasury daily Treasury bill rates table.
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What to check before choosing a CD
A high advertised APY is only one part of the decision. Compare the account’s terms and your ability to keep the money deposited until maturity:
- Term and maturity: Match the CD’s length to when you expect to need the money.
- Minimum deposit: Confirm that your opening balance meets the institution’s requirement.
- Early-withdrawal penalty: Check how the penalty is calculated; an early withdrawal can reduce the interest earned.
- Access and additional deposits: Verify whether you can withdraw early or add funds after opening.
- Renewal and grace period: Find out what happens at maturity and how long you have to change the instructions or withdraw funds.
- Eligibility: Check geographic limits and any credit-union membership requirements.
- Deposit insurance: Verify applicable FDIC or NCUA coverage and how it applies to your accounts.
The December 2024 roundup does not provide every account-level condition for each listed institution. Check the institution’s current rate sheet and disclosures for the offer and its eligibility, terms, and insurance before opening an account.
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What the FDIC rate cap does—and does not—mean
The FDIC’s national rate cap is a regulatory limit for institutions subject to the relevant restrictions, not a rate every bank offers. The FDIC describes the cap as the higher of the national rate plus 75 basis points or 120% of a comparable Treasury yield plus 75 basis points. Its national rates and caps page explains the calculation and publishes the applicable figures.
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