SEATTLE— Many banks and credit unions are still offering 12-month certificates of deposit with yields at or above 4% even as overall CD rates continue to decline, according to a new report from CD Valet, a digital marketplace that tracks deposit offerings nationwide.
In its December Ratewatcher report, the company said that as of Nov. 30, “top-tier” CD rates remain unusually resilient, offering savers some of the most competitive returns available heading into yearend.
“Yearend is an ideal time to evaluate finances and savings strategies,” Mary Grace Roske, CD Valet’s head of marketing and communications, said in a statement. “While overall CD rates are trending downward — in fact, approximately 86% of rate changes in November were negative — many banks and credit unions are still offering attractive yields, especially through special promotional CDs.”
What the Data Reveal
The platform analyzes more than 40,000 publicly listed CD rates from nearly 5,000 U.S. banks and credit unions. In November, CD Valet recorded 5,273 rate cuts averaging 22 basis points, compared with just 823 rate increases that averaged 46 basis points.
CD Valet said high-yield offerings have held up better than the broader market. Its benchmarks show:
- Top 1% CD rates dipped from 4.40% in the summer to 4.23% in November.
- Top 10% rates declined from 4.08% in mid-August to 3.85% in November.
- Top 25% rates fell 25 basis points over six months to 3.60%.
- Median rates saw the steepest drop, sliding from 3.50% in June to 3.20% by the end of November.
Despite the downward trend, the company said several institutions continue to offer yields above 4%, particularly on shorter-term CDs.
