- You can earn up to 4.65% APY on top CDs today.
- APYs are holding firm today, but they are likely to collapse when the Fed cuts interest rates next year.
- By opening a CD today, you can lock the APY now and enjoy the raised profits even when rates are declining.
If you are looking for a safe place to park your cash, a deposit certificate can be a great solution. Unlike saving accounts, where rates can vary at any time, CD rates are fixed when you open the account. This means that you will get the same amount of interest no matter where the general rates go.
Now that's it Best cds Boasting up to 4.65% annual percentage produce, as well as other perks such as low minimum deposit and federal deposit insurance requirements. Read to see some of the highest CD rates available now and how much you can earn by depositing $ 5,000.
The best CD rates today
| Term | Highest apy* | Bank | I estimated to be |
|---|---|---|---|
| 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 possible of APY. Enter your information below to get the best rate of CNET partners for your area.
Why now is a great time to open a CD
A CD can be a great place to beat your cash at any time, but in times of inflation like today, they can be useful. As the Federal Reserve enlarges interest rates to combat inflation, banks tend to follow suit, raising APYs to consumer products such as CDs and Saving Accounts.
If you open a CD as the rates remain elevated, you can continue to enjoy the same high return even when the rates begin to fall because your APY is locked when you open a CD.
But don't wait too long to take advantage of the APY today. While the fed chose that Pausing Rates At its January meeting, experts expect it to cut the rates next year, which means that the clock is frustrating.
“ The Olivier Group. “That was said, with the Fed taking a more careful, wait-and-see approach, CD rates and other safe currency options are likely to remain at high levels for today. “
You can earn up to 5% APY on the best high yield saving accounts. Check Top savings rates Now
How did CD rates change in the past week
| Term | The average CNET of last week | The average CNET of this week | Weekly Change ** |
|---|---|---|---|
| 6 months | 4.08% | 4.08% | No change |
| 1 year | 4.07% | 4.07% | No change |
| 3 years | 3.56% | 3.56% | No change |
| 5 years | 3.55% | 3.56% | +0.28% |
What to look for in a CD
A competitive apy is important, but this is not the only one you should consider. To find the right CD for you, also weigh these things:
- When you will need your money: Early penalties in removal With CDs you can eat your interest profits if you need your money before the term ends, so choose a timeline that makes sense. Alternatively, you can choose a No-penalty CDAlthough APY may not be as high as you want to get to a traditional CD of the same term.
- Minimum Deposit Required: Some CDs require a minimum deposit to open an account, usually $ 500 to $ 1,000. Knowing how much money you need to put aside will help you to narrow down your choices.
- Payment: Maintenance and other fees can be cut off with your savings. Many Online banks Do not charge fees as they have lower overhead costs than banks with physical branches. Read the fine printing for any account you are reviewing.
- Safety and Security: Make sure the bank or Credit union considering you are a member of FDIC or NCUA so your money is protected If the bank fails.
- Ratings and Customer Reviews: Visit sites like Trustpilot to see what customers say about the bank. You want a bank that is responsive, professionally and easy to work with.
Procedure
CNET reviews CD rates based on the latest APY information from the providers of the Provider. We review CD rates from more than 50 banks, credit unions and financial companies. We review CDs based on APYs, product offerings, customer access and services.
Current banks included in CNET's weekly average CDs include Alliant Credit Union, Ally Bank, American Express National Bank, Barclays, Bask Bank, Bread Savings, Capital One, CFG Bank, CIT, Fulbright, Goldman's Marcus 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.
*The APYs in February. 21, 2025, based on the banks we monitor at CNET. The revenues are based on the APYs and assumes interest is combined -Includes year -old.
** Weekly percentage increase/decrease from Feb. 11, 2025, to Feb. 18, 2025.
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