Take Advantage of High APYs While You Can
- You can earn up to 4.65% APY with today’s best CDs.
- The Fed is likely to pause at its next meeting, so there’s still time to lock in senior APY.
- Interest rates are expected to be lowered later this year.
Want to maximize your earnings? Now is the time to take advantage of still-high deposit rates for certificates.
The annual percentage of CDs, or APY, has been declining for several months in response to a series of Fed tax rate cuts. However, with experts expecting the Fed to pause rates at next week’s meeting, most banks are leaving APY on for now. That means there’s still time to lock in high prices and protect your gains from the Fed’s cuts later this year. Today’s Top CD Offers up to 4.65% APY.
Here are the top CD rates available right now, and how much you can earn on a CD by depositing $5,000.
Today’s best CD prices
| semester | Highest APY* | bank | Estimated revenue |
|---|---|---|---|
| 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’s First Credit Union | $648.69 |
| 5 years | 4.25% | America’s First Credit Union | $1,156.73 |
Experts recommend comparing rates before opening a CD account to get the best APY. Enter your information below to get the best rates from CNET partners.
Turning on C today could boost your income
on CD and savings account since Fed rate cut in the last three sessions. But with Inflation goes backwardsmany experts believe that the Fed will remain stable at next week’s meeting. Banks also appear to be hedging their bets by keeping CD prices relatively stable.
“We do not expect significant action at the next Fed meeting as current signals point to a cautious approach to lowering interest rates this year,” said Chad Olivier, certified financial planner and CEO. pace.” Olivier Group. “We still think the Fed is going to have an accommodative environment. But, in some respects, all markets are waiting for the new administration to really step in and be aggressive on lower rates.”
Experts expect to see lower tax rates later this year, so make sure Premium APY is available now to maximize your earning potential. When you open a CD, your APY is locked, meaning your earnings will remain the same.
How CD rates changed last week
| semester | CNET average APY last week | CNET average APY this week | Changes every week** |
|---|---|---|---|
| 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 when choosing a CD
Having a competitive APY is important, but it’s not the only thing you need to keep in mind. To find the right CD for you, also weigh the following factors:
- When you need money: Early withdrawal penalty Can eat your interest income. So make sure you choose a term that fits your savings schedule. Alternatively, you can choose a Protein-free CDalthough the APY may not be as high as your traditional CD by the same term.
- Minimum deposit requirements: Some CDs require a minimum amount to open an account – usually $500 to $1,000. Others don’t. How much you have to spend can help you narrow down your choices.
- cost: Maintenance and other expenses can be used towards your income. many online banking Don’t charge fees as their overhead costs are lower than banks with physical branches. However, please read the fine print on any account you evaluate.
- Federal Deposit Insurance: Make sure any bank or credit union You’re considering an FDIC or NCUA member, so your money is protected if bank fails.
- Customer ratings and reviews: Visit a site like TrustPilot to find out what customers are saying about your bank. You want a bank that is responsive, professional, and easy to use.
methodology
CNET reviews CD rates based on the most recent APY information from the issuer’s website. We evaluated CD rates from over 50 banks, credit unions, and finance companies. We evaluate CDs based on APY, product offerings, accessibility, and customer service.
Current banks included in CNET’s weekly CD average include Alliant Credit Union, Ally Bank, American Express National Bank, Barclays, Bask Bank, Bask Bank, Bread Savings, Capital One, CFG Bank, CIT, Fulbright, Fulbright, Marcus, Goldman Sachs,Mysb Direct,Quontic,Quontic,Quontic,Quontic,Quontic,Quontic,Quontic,for Rising Bank, Synchrony, Everbank, Popular Bank, First Bank of Indiana, First America Federal Credit Union, Communitywide Federal Credit Union, Discover, Bethpage, Bethpage, BETHPAGE, BMO ALTO, LIMELIGHT BANK, First America National Bank and Connexus Credit Union.
*As of January 23, 2025, based on banks we track at CNET. Earnings are based on APY and assume interest is compounded annually.
** Weekly increases/decreases from January 6, 2025 to January 13, 2025.
