Stanford Credit Union Cd Rates – We evaluate all our recommendations independently. If you click on a link we provide, we may receive compensation.
Below you will find rates recommended by our partners, followed by details from our ranking of the best CDs available nationwide.
Stanford Credit Union Cd Rates
The highest rate on 18-month notes fell today, as the previous rate leader of 5.35% exited the market. The most you can currently earn on a nationally available 18-month CD is 5.25%, which you can have two ways. NASA Federal Credit Union offers a 15-month return on the certificate, while Farmers Insurance Federal Credit Union lets you lock it in for 18 months.
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The highest CD returns are available on short-term certificates. Two weeks after the country’s highest rate of 5.55% APY on a 6-month note still available from NewTech Bank, a new CD took the rate crown yesterday. MutualOne Bank offers 5.65% APY for a 3-month term.
In addition to these two top rates, 14 other CDs offer 5.40% APY or more with terms of 3 to 12 months. Four of them are 5-7 month CDs that pay 5.50% APY.
Want to make your CDs even more secure? You can choose a two-year Prime CD that pays 5.20% and locks in until 2026. Or you can guarantee a rate of 5.00% until 2027. Although this is the longest term that offers a rate of 5% or more, you can alternatively choose to guarantee a higher rate of 4% for 4 to 5 years in the future.
To see the top 15-20 rates nationally in each category, click on the length of the desired category in the top left column.
Top Cds Today, April 4, 2024
Certificate of Deposit (CD) rates fell after hitting a record high of 6.50% in October. At the beginning of February, the number of CDs in our daily rankings that paid at least 5.50% APY was 30. With today’s best new offer, that number is down to six.
But don’t forget how high CD revenue still is compared to the last 20 years. Achieving returns in the range of 4% to 5% for a year or more is the best opportunity to make a profit.
APY is not the only way to win with today’s CDs. Since CD rates could drop significantly in 2024 and 2025, locking in long-term rates now—before rates drop—may be a smart move.
Two top jumbo CDs allow you to earn more than you would with regular CDs. State Bank of Texas offers 5.50% APY on a 12-month certificate, while My eBanc offers 5.49% APY for 6 months.
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Pay more than regular certificates. Often, you can do just as well – or better – with a regular CD. This is currently the case for the following six conditions, so it is always wise to turn to both types of approvals before making a final decision.
*Denotes highest APY offered each term. To see our lists of the highest paying CDs for banknotes, credit unions and jumbo cards, click on the column headings above.
CD rates are expected to decrease this year. Exactly when is the question. The answer depends on the movements of the Federal Reserve, which controls the federal funds rate, which greatly affects CD rates.
The Fed announced on March 20 that it was keeping the fed funds rate at its current level, the fifth consecutive meeting it has done so. To combat decades of inflation, the Fed raised interest rates aggressively between March 2022 and July 2023, taking the Fed rate to the highest level in 22 years.
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Historically this has created favorable conditions for CD buyers, as well as those with large savings or cash accounts. CD rates remained at their highest level this fall, reaching their highest levels in two decades.
Inflation cooled by allowing the Fed to stop raising interest rates. But further inflationary progress has been elusive, putting the central bank in wait-and-see mode as it looks for evidence that inflation is slowing enough to cut the federal funds rate. Echoing statements from the Fed’s last meeting, Fed Chairman Jerome Powell said today that the first rate cut may still be a long way off.
“We do not expect it to be appropriate to lower our interest rates until we have confidence that inflation is moving steadily downwards towards 2 percent. Given the strength of the economy and the progress of inflation so far, we have time to put in data to guide our policy decisions,” Powell prepared. He said in his remarks.
Federal Reserve Governor Chris Waller echoed a similar sentiment last week, saying this quarter’s inflation and job growth data reinforced his earlier view that there was “no rush” to lower interest rates. Economic indicators released later this week showed that GDP growth was stronger than expected in the fourth quarter of last year and that the number of people filing for unemployment fell in – week ending March 23. It’s just more data to back up. The momentum of the economy is strong and there is no immediate need to cut interest rates.
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At the March 20 meeting, the average forecast of members of the Fed’s interest rate-setting committee was for three rate cuts this year. Financial markets are still in agreement, betting on at least three rate cuts this calendar year, according to CME Group’s FedWatch tool. Most traders are of the opinion that the first cut will take place in June.
Of course, what the market predicts today and what the Fed ultimately does may or may not align. But assuming the Fed funds rate is cut sometime this year, CD rates are expected to continue to decline. Then, as soon as it becomes clear that a Fed interest rate cut is expected, the CD interest rate cut will accelerate.
The central bank will hold six more rate-setting meetings in 2024, with the next meeting scheduled for April 30 to May 1.
Note that the “peak rates” quoted here are the highest rates available in the country as identified by researching the daily rates of hundreds of banks and credit unions. This is significantly different from the national average, which includes all banks that offer CDs with this term, including many large banks that offer lower interest rates. Therefore, the national average is always lower, while the highest rates you can find by shopping around are often 5, 10, or 15 times higher.
Top Cd Rates Today, April 3, 2024
Each business day, it tracks rate data from more than 200 banks and credit unions that offer CDs to consumers nationwide and determines a daily ranking of the highest paying certificates in each key term. To qualify for our listing, an institution must be federally insured (FDIC for banks, NCUA for credit unions) and have a minimum initial CD deposit of no more than $25,000.
The banks must be available in at least 40 countries. And while some credit unions require you to donate to certain associations or non-profit organizations to become a member if you don’t meet other eligibility criteria (eg, you don’t live in a certain area or work in a certain of work), the donation is $40 or more We do not cover such credit unions. To learn more about how we choose the best rates, read our full methodology.
Authors must use primary sources to support their work. These include white papers, government data, original reports and interviews with industry experts. We also refer to original research from other reputable publishers where appropriate. You can learn more about the standards we follow to create accurate and unbiased content in our editorial policy. If you’re looking for a smart strategy to earn a higher rate of return while keeping your emergency fund or extra cash available, consider this idea to put your savings based on your needs during the next 12 months.
The funds in your associated savings account are readily available for emergency or planned use, but you earn a much higher rate than a money market account or regular savings account because it is associated with the certificate of ‘ Your 12 months.
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The funds in your 7-month certificate are also available without penalty for unexpected or emergency expenses.
The funds in your 12-month certificate will be locked in for a year (unless you pay an early withdrawal penalty), so you can be sure you won’t need the money for a while. Remember that members with ambassador relationships also get 1 hit on the certification rate every year!
At Stanford FCU, we’re always looking for ways to say yes to the financial success of our members, and we hope this savings strategy will help you make smart decisions for your financial well-being.
Once the certificate is opened, the rate remains fixed until maturity. Dividends are compounded and paid monthly. Early withdrawal penalties apply and may reduce earnings. A 7-month certificate can be closed without penalty after seven (7) calendar days from opening. Certificate rates shown include a 0.50 bonus for active and engaged members through our Membership Rewards program.
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The respective account rate varies. For collateral savings linked to a certificate account, dividends are calculated using the daily balance method which applies a periodic daily rate to the balance.
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