15 best long-term CDs to open before the next rate cut

When it comes to earning big interest on deposit accounts, savers have been raking in the returns over the last few years. With the Fed rate remaining at a multi-decade high throughout much of 2023 and 2024, the rates offered on interest-bearing accounts, like high-yield savings accounts and certificates of deposit (CDs), were also high, making it easy for savers who took advantage of the rate environment to earn hefty returns on their money. 

The rate environment is shifting, though. Inflation has cooled significantly compared to what it was over the last few years, and the first Federal Reserve rate cut was finally made in September, which slashed the benchmark rate by 50 basis points rather than the 25-basis-point cut most analysts expected. As a result, the rates on loans and deposit accounts have begun to fall, meaning that the window to earn higher-than-average rates on your savings may be closing.

And that window could get even narrower soon, as the Fed is widely expected to continue to slash rates over the coming weeks and months. When that happens, CD rates will likely fall, too. But because CD rates are fixed, meaning the rate you lock in won't change during your CD term, you can open one of the top long-term CDs now and ensure that you're earning the same great rate for at least a year or more. 

Don't wait much longer to open a CD. See how much more you could be earning with a top CD here now.

15 best long-term CDs to open before the next rate cut

If you want to lock in the best CD rate before another Fed rate cut happens, it may be worth considering these options: 

• Bank of Houston 12-month CD — 5.10%: There is a $1,000 minimum deposit requirement to open this account; an early withdrawal penalty will be charged for accessing the funds in this account before the CD matures
• Fort Liberty Federal Credit Union 12-month CD — 5.00%: There is a $25,000 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 90 days of interest
• First Flight Federal Credit Union 12-month CD — 4.91%: There is a $10,000 minimum deposit requirement to open this account; an early withdrawal penalty will be charged for accessing the funds in this account before the CD matures
• Chasewood Bank 18-month CD — 4.89%: There is a $1,000 minimum deposit requirement to open this account; an early withdrawal penalty will be charged for accessing the funds in this account before the CD matures
• R Bank 12-month CD — 4.86%: There is a $1,000 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 90 days of interest
• Beacon Federal Credit Union 18-month CD — 4.80%: There is a $1,000 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 180 days of interest
• Eagle Bank 18-month CD — 4.71%: There is a $1,000 minimum deposit requirement to open this account; an early withdrawal penalty will be charged for accessing the funds in this account before the CD matures
• State Department Federal Credit Union 18-month CD — 4.68%: There is a $500 minimum deposit requirement to open this account; an early withdrawal penalty will be charged for accessing the funds in this account before the CD matures
• Veridian Credit Union 21-month CD — 4.65%: There is a $1,000 minimum deposit requirement to open this account; an early withdrawal penalty will be charged for accessing the funds in this account before the CD matures
• Amboy Direct 2-year CD — 4.61%: There is a $25,000 minimum deposit requirement to open this account; an early withdrawal penalty will be charged for accessing the funds in this account before the CD matures
• Bayer Heritage Federal Credit Union 2-year CD — 4.50%: There is a $100 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 120 days of interest
• Randolph Brooks Federal Credit Union 35-month CD — 4.50%: There is a $20,000 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 120 days of interest
• Harris County Federal Credit Union 3-year CD — 4.18%: There is a $500 minimum deposit requirement to open this account; an early withdrawal penalty will be charged for accessing the funds in this account before the CD matures
• Connexus Credit Union 3-year CD — 4.11%: There is a $5,000 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 180 days of interest
• Synergy Federal Credit Union 5-year CD — 4.07%: There is a $1,000 minimum deposit requirement to open this account; the early withdrawal penalty is equal to 180 days of interest

Get started with a top long-term CD today.

The bottom line

Time may be running out if your goal is to open a top-earning CD account. With the rate environment shifting, today's rates may be as good as it gets — especially if the Fed cuts rates again soon. Luckily, there are still plenty of good long-term CD options to choose from, so it could benefit you to start researching and find the right one for your needs today. That way, you can make sure that your money is earning as much as possible for as long as possible, helping you stay on track with your finances and meet your money goals faster.