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13 Deals in 7 States Let You Out-Earn the Top Nationwide CD Rates

For anyone with cash savings in the bank, 2023 and 2024 have been banner years for earning historically high returns on your money. Certificates of deposit (CDs), in particular, are paying exceptional rates, with the top rates across most CD terms ranging from 4.30% to 5.00% on nationally available certificates. One nationwide CD even pays as much as 5.50% APY.

But some lucky savers can do even better than that since regional banks and credit unions occasionally offer higher returns. We scoured CD offers around the country and found 13 deals in seven states that pay more than the leading nationwide offer if you qualify by where you live or work.

Eligibility for These Top Regional Offers

Each of these institutions makes its CDs available to a certain geographical region. We’ve listed the qualification details below, alphabetically by state. When reviewing rates, note that some credit unions call their CD products “share certificates.”

California: Financial Partners Credit Union - FPCU's special 8-month CD paying 6.00% is available to new members who live, work, or go to school within the four-county region of Orange, Riverside, San Diego, and Los Angeles counties, or the cities of South San Francisco or Alameda. Note, however, that this promotional CD stipulates a maximum deposit of $5,000.

Maine: Connected Credit Union - Connected's 4.59% rate on a 2-year CD requires a minimum deposit of $2,000. Anyone who lives, works, worships, or attends school in Kennebec, Somerset, Lincoln, or Waldo Counties is eligible to join Connected.

Michigan: Extra Credit Union - Extra's two chart-topping offers of 4.58% on a 3-year CD or 4.83% on a 5-year term can be opened with a minimum deposit of $500. You can join Extra if you reside, work, worship, or attend schools anywhere within the state of Michigan.

Pennsylvania: Frick Financial Federal Credit Union - Frick Financial's 5.30% deal on a 9-month CD is available for a minimum deposit of $1,000. Anyone who lives, works, or worships in Fayette, Washington, or Greene counties can join Frick Financial.

Pennsylvania: Corry Federal Credit Union - Corry Federal offers two top CD deals, paying either 4.42% on 4 years or 4.47% on 5 years. Eligibility to join Corry Federal is open to anyone who lives, works, worships, or attends school in a number of cities, boroughs, and townships in the Pennsylvania counties of Erie, Crawford, and Warren, as well as a few towns in New York's Chautauqua County.

Tennessee: Bowater Credit Union - Bowater's two nation-leading CDs—5.34% on 6 months or 5.12% on 1 year—are available with a $500 minimum deposit. Membership in Bowater is open to anyone who lives, works, worships, or goes to school in the Tennessee counties of Bradley, McMinn, Meigs, Monroe, or Polk.

Texas: Complex Community Federal Credit Union - Complex Community offers a 5.12% rate on a 1-year CD. Eligibility is extended to anyone who lives, works, worships, or attends schools in the following counties: Andrews, Crane, Ector, Gaines, Hockley, Howard, Lubbock, Martin, Midland, Pecos, Reeves, Terry, Upton, Ward, or Winkler.

Texas: Lone Star Credit Union - With a minimum $500 deposit, you can earn 4.65% for 3 years or 4.55% for 5 years at Lone Star. Anyone who lives or works within the counties of Delta, Hopkins, Hunt, Kaufman, Rains, or Rockwall, or a 10-mile radius of the credit union's Dallas branch, can join Lone Star.

Wisconsin: Bank Five Nine - You can choose a 5.20% rate on either a 15-month or 23-month certificate at Bank Five Nine. Eligibility to open an account at this bank is available to anyone who lives in Wisconsin.

Why CDs Are So Smart Right Now

Though today's rates have come down slightly from their 2023 peak, CDs are still paying historically high returns. But rates may drift lower now that the Federal Reserve has shifted into a rate-cutting phase. Interest rates will likely drop in 2025, but any CD you open now will guarantee today's rate for months or years down the road—no matter how many rate cuts the Fed announces.

If you don't qualify for the above regional offers, you can still find a stellar nationwide rate in our various CD rankings below.

How We Find the Best Savings and CD Rates

Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs and savings accounts to customers nationwide and determines daily rankings of the top-paying accounts. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), and the account's minimum initial deposit must not exceed $25,000. It also cannot specify a maximum deposit amount that's below $5,000.

Banks must be available in at least 40 states to qualify as nationally available. While some credit unions require you to donate to a specific charity or association to become a member if you don't meet other eligibility criteria (e.g., you don't live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, read our full methodology.