- Today's best CDs boast of 4.65% APY – more than twice as much as the national average for some conditions.
- The Fed has stopped the footsteps so far, but reductions are expected later this year.
- Locking in high APY now allows you to protect your earnings from upcoming rate reductions.
All CDs are not created equal. While National average rate For a six -month CD is 1.64%, for example, the first six -month CD we follow at CNET offers a 4.65% annual yield percent. It can make a big difference in how fast your money is growing.
Today Best CD -a It can boast competitive rates, low minimum deposit requirements and federal deposit insurance security. Read on to see some of the highest CD rates available now and how much you can earn with a 5,000 USD deposit.
Today's best CD rates
| Term | Highest apy* | Bank | Estimated earnings |
|---|---|---|---|
| 6 months | 4.65% | Federal Credit Union throughout the Community | $ 114.93 |
| 1 year | 4.45% | Federal Credit Union throughout the Community | $ 222.50 |
| 3 years | 4.15% | First Credit Union of America | $ 648.69 |
| 5 years | 4.25% | First Credit Union of America | $ 1,156.73 |
Experts recommend comparing rates before opening an CD account to get the best possible apy. Enter your information below to get the best rate of CNET partners for your area.
Why is it a smart time to open a CD now
CD can be a great place to reduce your money at any time, but at times of inflation like today, they can be particularly profitable. Since the Federal Reserve raises interest rates to combat inflation, banks tend to monitor it, raise Apy to consumer products like CDs and and Saving accounts.
If you open CDs as the footsteps remain elevated, you can continue to enjoy the same high yields, even when the rates begin to fall because your Apy is locked when you open a CD.
But don't wait too long to use today's apy. While the Fed chose pause rates At his January meeting, experts expect to cut rates later this year, meaning the clock jumps.
“Short-term interest rates tend to vary in anticipation of market changes, and even if the Fed does not drop their rates immediately, we can see that CD rates are starting to move slightly down,” said Chad Olivier, authorized financial planner and CEO of Group Olivier. “That said, since the Fed took more careful, waiting and watching access, CD rates and other safe money options are likely to remain at these high levels.”
-You can earn APY up to 5% of the best high -yield saving accounts. Check Top -notch rates of savings Now.
How did CD rates have changed over the past week
| Term | Last week's average apy of cnet | This week's average apy of cnet | Weekly change ** |
|---|---|---|---|
| 6 months | 4.10% | 4.09% | -0.24% |
| 1 year | 4.07% | 4.08% | 0.00 USD |
| 3 years | 3.55% | 3.56% | 0.00 USD |
| 5 years | 3.56% | 3.56% | There is no change |
Things to take into account when comparing CD -A
Competitive Apy is important, but not the only thing you need to think about. To find the right CD for you, measure these things:
- When you need money: Early withdrawal penalties You can eat on your CD in your earnings if you need money before the term ends, so choose a time frame. Alternatively, you can choose a without penatol CDAlthough Apy may not be as big as you would get a traditional CD with the same term.
- Minimum Deposit Condition: Some CDs need a minimum deposit to open an account, usually from $ 500 to $ 1,000. To know how much money you need to set aside, it can help you reduce your options.
- Taxi: Maintaining and other fees can reduce your savings. A lot Internet banks Do not charge a taxi because they have lower costs for overhead costs than banks with physical branches. Read fine printing for any account you evaluate.
- Security and security: Make sure the bank or Credit union You think he is a member of FDIC or NCUA so that your money is protected If the bank fails.
- Customer reviews and reviews: Visit pages like TrustPilot to see what customers talk about the bank. You want a suit bank, professional and easy to work.
Methodology
CNET reviews CD -based CDs based on the latest APY information from the publisher's web pages. We have evaluated CD rates of more than 50 banks, credit unions and financial companies. We evaluate the CD -based APYS, offers of products, accessibility and customer service.
Current banks included in the Sunday average CNET CD include Alliant Credit Union, Ald Bank, American Express National Bank, Barclays, Bask Bank, Bread Saving, Capital One, CFG Bank, Cit, Fulbright, MARCUS from Goldman Sachs, MySB Direct. , Quontic, Rising Bank, Synchrony, Ererbank, Popular Bank, Indiana's First Internet Bank, America First Federal Credit Union, Federal Community Credit Union, Discover Betpage, BMO Alto, Banking Bank, First National Bank of America and Credit Credit Union .
*Apys as of February 14, 2025, based on the banks we follow at CNET. Earnings are based on Apys and we assume that interest is upgraded annually.
** Weekly increase/decrease the percentage from 3 February 2025 to February 10, 2025.