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Why 2024 is the BEST year to Invest in a CD Ladder - Certificate of Deposit ExplainedIf a CD has a step rate, the interest rate of the CD may be higher or lower than prevailing market rates. Step-rate CDs are subject to secondary-market risk. The best CD rates today are mostly in the mid-4% for one-year terms and in the mid-3% for three- to five-year terms. Alliant Credit Union offers CD terms ranging from three to 60 months, earning up to % APY. There's a $1, minimum deposit required for all.