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- Today’s best CDs offer an APY of up to 4.65%.
- Experts expect the Fed to pause interest rates at its next meeting, but interest rates are likely to be cut later this year.
- Locking in your APY now allows you to protect your returns from future price declines.
The days of high APYs may be over, but CD prices are still attractive. You can earn up to 4.65% annual yield, or APY, with today Best CDs – More than double National average For some terms.
Better yet, your APY is fixed when you open a CD, so you’ll enjoy the same returns even if rates decline, as experts predict will happen in the coming months. If you have some cash that you won’t need access to right away, putting it into a CD can be a great way to maximize your profits.
Here are some of the highest CD rates at the moment and how much you can earn by depositing $5,000.
Today’s best CD prices
| condition | Highest APY* | Bank | Estimated profits |
|---|---|---|---|
| 6 months | 4.65% | Community Federal Credit Union | $114.93 |
| 1 year | 4.45% | Community Federal Credit Union | $222.50 |
| 3 years | 4.15% | First American Credit Union | $648.69 |
| 5 years | 4.25% | First American Credit Union | $1,156.73 |
Experts recommend comparing rates before opening a CD account to get the best APY possible. Enter your information below to get the best CNET Partners rate for your area.
Where do CD prices go next?
APYs on CDs and Savings accounts It has been declining for several months after a series of… Interest rate cuts by the Federal Reserve. But with Inflation is falling againMany experts believe the Fed will keep interest rates steady at next week’s Federal Open Market Committee meeting. This means there is still time to score a great APY.
“We do not expect any significant action at the next Fed meeting, as current signals point to a cautious, wait-and-see approach to determining the pace of interest rate cuts this year,” said Chad Olivier, certified financial planner and CEO. Olivier Collection. “We still believe there will be an accommodative environment for the Fed. However, all markets are, in some ways, waiting to see what happens with the new administration before they really step in and take an aggressive stance on lowering interest rates.”
Experts expect to see interest rate cuts later this year, so locking in a high APY now can increase your earnings potential. Your APY is locked when you open a CD, meaning your payouts will remain the same no matter where the overall rates go next.
How have CD prices changed in the past week?
| condition | CNET Average APY last week | This week’s CNET average APY | Weekly change** |
|---|---|---|---|
| 6 months | 4.09% | 4.05% | -0.98% |
| 1 year | 4.03% | 4.01% | -0.50% |
| 3 years | 3.50% | 3.50% | No change |
| 5 years | 3.45% | 3.45% | No change |
Keep these factors in mind when choosing a CD
A competitive APY is important, but it’s not the only thing you should keep in mind. To find the right CD for you, evaluate these factors as well:
- When you’ll need your money: Penalties for early withdrawal It could eat into your interest earnings. So make sure you choose a term that fits your savings timeline. Alternatively, you can select A CD without penaltyalthough the APY may not be as high as you would get with a traditional CD with the same term.
- Minimum deposit requirements: Some CDs require a minimum to open an account – usually between $500 and $1,000. Others don’t. The amount of money you have to set aside can help you narrow down your options.
- expenses: Maintenance and other fees can eat into your profits. a lot Online banks They do not charge fees because their overhead costs are lower than banks with physical branches. However, read the fine print of any account you’re evaluating.
- Federal deposit insurance: Make sure which bank or Credit union Are you considering becoming a member of the FDIC or NCUA so your money is protected? If the bank fails.
- Customer ratings and reviews: Visit sites like Trustpilot to see what customers are saying about the bank. You want a bank that is responsive, professional, and easy to work with.
methodology
CNET reviews CD prices based on the latest APY information from source sites. We evaluated CD rates from more than 50 banks, credit unions, and financial companies. We evaluate CDs based on APYs, product offerings, accessibility, and customer service.
Current banks included in CNET’s weekly CD averages include Alliant Credit Union, Ally Bank, American Express National Bank, Barclays, Bask Bank, Bread Savings, Capital One, CFG Bank, CIT, Fulbright, Marcus by Goldman Sachs, MYSB Direct, Quontic , Rising Bank, Synchrony, Everbank, Popular Bank, First Internet Bank of Indiana, First American Federal Credit Union, Federal Credit Union Community, Discover, Bethpage, BMO Alto, Limelight Bank, First National Bank of America and Connexus Credit Union.
*APYs as of January 22, 2025, based on banks we track at CNET. Earnings are based on APYs and assume interest compounded annually.
**Weekly percentage increase/decrease from January 13, 2025 to January 20, 2025.
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