- Today’s best CDs earn up to 4.65% APY.
- Your APY is fixed when you open a CD.
- With APYs falling, locking in a high APY now can maximize your earning potential.
A certificate of deposit can be a great place to stash extra cash at any time. CDs offer low risk and guaranteed returns, making them ideal for funds you can set aside for a specific period. But in today’s falling-rate environment, they can be especially valuable.
Top CDs currently offer annual percentage yields, or APYs, up to 4.65%. Open one of these CDs now, and your APY will be locked in for the entire CD term. With APYs on the way down, this can help you maximize your earnings.
Here are some of the highest CD rates right now and how much you could earn by depositing $5,000.
Today’s best CD rates
| Term | Highest APY* | Bank | Estimated earnings |
|---|---|---|---|
| 6 months | 4.65% | CommunityWide Federal Credit Union | $114.93 |
| 1 year | 4.45% | CommunityWide Federal Credit Union | $222.50 |
| 3 years | 4.15% | America First Credit Union | $648.69 |
| 5 years | 4.25% | America First 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 ‘s partners’ best rate for your area.
Now’s the time to lock in a high APY
APYs on CDs and savings accounts have been falling for months after a series of Federal Reserve rate cuts. But with inflation inching back up, many experts believe the Fed will hold rates steady at next week’s Federal Open Market Committee meeting. That means there’s still time to score a great APY.
“We expect no significant action at the next Fed meeting, as current signals suggest a cautious, wait-and-see approach to determine the pace of interest rate cuts this year,” said Chad Olivier, Certified Financial Planner and CEO of The Olivier Group. “We still think there’s going to be an easing environment for the Fed. However, all of the markets are, in some respect, waiting to see what happens with the new administration before they really step in and get aggressive on lower interest rates.”
Experts expect to see rate cuts later this year, so securing a high APY now can maximize your earning potential. Your APY is locked in when you open a CD, which means your returns will stay the same regardless of where overall rates go after that.
How CD rates have changed over the last week
| Term | Last week’s average APY | This week’s 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 |
How to choose the right CD for you
A competitive APY is important, but it’s not the only thing you should keep in mind. To find the right CD for you, weigh these factors, too:
- When you’ll need your money: Early withdrawal penalties can eat into your interest earnings. So be sure to choose a term that fits your savings timeline. Alternatively, you can select a no-penalty CD, although the APY may not be as high as you’d get with a traditional CD of the same term.
- Minimum deposit requirement: Some CDs require a minimum amount to open an account — typically, $500 to $1,000. Others do not. How much money you have to set aside can help you narrow your options.
- Fees: Maintenance and other fees can eat into your earnings. Many online banks don’t charge fees because they have lower overhead costs than banks with physical branches. Still, read the fine print for any account you’re evaluating.
- Federal deposit insurance: Make sure any bank or credit union you’re considering is an FDIC or NCUA member 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’s responsive, professional and easy to work with.
Methodology
reviews CD rates based on the latest APY information from issuer websites. 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.
The current banks included in ‘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, America First Federal Credit Union, CommunityWide Federal Credit Union, Discover, Bethpage, BMO Alto, Limelight Bank, First National Bank of America and Connexus Credit Union.
*APYs as of Jan. 22, 2025, based on the banks we track at . Earnings are based on APYs and assume interest is compounded annually.
**Weekly percentage increase/decrease from Jan. 13, 2025, to Jan. 20, 2025.
