- You can earn up to 4.65% APY with today’s top CDs.
- Although APYs have been falling, the best CDs still offer more than twice the national average.
- Opening a CD now allows you to lock in a high APY and protect your earnings from additional rate drops.
Want to maximize your earnings with a certificate of deposit? Now’s the time to act.
Today’s best CDs offer up to 4.65% annual percentage yield — more than twice the national average for some terms. And by locking in your APY now, you can continue to enjoy the same high returns even if rates continue to fall, as many experts expect they will.
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 CNET’s partners’ best rate for your area.
Why you shouldn’t wait to open a CD
CD rates may still be attractive, but the days of sky-high APYs are over. APYs have been falling for months following a series of Federal Reserve rate cuts. The Fed doesn’t directly set CD rates, but banks tend to move in lockstep with its decisions. When the Fed cut rates, banks cut APYs on products like CDs and savings accounts and vice versa.
To fight COVID-era inflation, the Fed raised rates 11 times starting in March 2022, and CD rates soared, reaching 5.65% APY for the banks we track at CNET. They’ve come down considerably since then, especially in recent months as cooling inflation caused the Fed to cut rates at its last three meetings. With experts expecting more Fed rate cuts in 2025, locking in one of today’s best APYs can protect your earnings from additional drops.
“If you need a secure place to park cash for a set period of time, a CD is still a solid, low-risk choice,” said Taylor Kovar, CFP, founder and CEO of 11 Financial. “Just don’t expect the returns you might have seen a year ago.”
How CD rates have changed in the last week
| Term | Last week’s CNET average APY | 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 |
What to look for in a CD
A competitive APY is important, but it’s not the only thing you should consider. 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
CNET 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 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, 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. 17, 2025, based on the banks we track at CNET. Earnings are based on APYs and assume interest is compounded annually.
**Weekly percentage increase/decrease from Jan. 6, 2025, to Jan. 13, 2025.
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