Top CDs offer up to 4.50% APY – more than three times the national average for some terms.
If the economic headlines have you stressed, a certificate of deposit can provide some much-needed peace of mind.
“CDs offer yield and fixed income, which can be a welcome source of stability in such a volatile political and economic environment,” said Noah Damsky, CFA, Principal of Marina Wealth Advisors. “If you’re looking to earn a stable income, sleep well at night and avoid the gyrations of the stock market, then CDs can be a great option.”
But if you want to maximize your returns, you may want to act now. Today’s top CDs still earn annual percentage yields (APYs) up to 4.50%, but rates have been slipping despite the Federal Reserve’s latest rate pauses. With a recession looming, APYs are likely to keep falling even if the Fed pauses rates again this week as expected. So the sooner you lock in your APY, the greater your earnings could be.
Best CD rates this week
Term Highest APY*BankEstimated earnings on $1,000 depositEstimated earnings on $5,000 depositEstimated earnings on $10,000 deposit6 months 4.50%CommunityWide Federal Credit Union$22.25$111.26$222.521 year 4.40%CommunityWide Federal Credit Union$44.00$220.00$440.003 years 4.15%America First Credit Union$129.74$648.69$1,297.385 years 4.20%America First Credit Union$228.40$1,141.98$2,283.97
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.
Top reasons to open a CD today
CDs offer many benefits, including:
😌 Low risk
CDs held by an FDIC-insured bank or NCUA-insured credit union are protected for up to $250,000 per depositor, institution and account category. That means that if your bank fails, your money is safe. Other investments, like stocks, may potentially yield higher returns over the long term, but they’re also volatile, which means you could lose money at any time.
📈 Guaranteed returns
Your APY is locked in when you open a CD, unlike with savings accounts, where interest rates can vary at any time. A CD’s fixed rate makes it easy to calculate how much interest you’ll earn over time and protects your funds from rate drops after you open your account.
💰 Competitive rates
Traditional savings accounts offer minimal APYs, sometimes as low as 0.01%. Today’s top-yielding CDs have APYs of 4.50% or more, which can make a difference in your interest earnings and help your money keep pace with inflation.
✋ Barrier to access
Many CDs, however, charge an early withdrawal penalty if you take your money out before the term ends. This can help you resist the urge to dip into your funds before you need them.
A high-yield savings account might be a better fit if…
CDs have plenty of perks, but they’re not always the right fit for your needs. A high-yield savings account might be a better choice if:
🏧 You want ready access to your funds
You’ll pay a penalty if you take money out of a CD before it matures. You can withdraw cash from a savings account at any time, free of charge (as long as you mind any monthly withdrawal limits). This makes HYSAs a great fit for an emergency fund.
🫰 You don’t have a ton of money to deposit
Some CDs require a minimum deposit to open an account, typically $500 to $1,000. If you can’t find an account with an attractive APY for the amount you want to deposit, try looking into a high-yield savings account with a low or no minimum deposit.
💵 You want to add funds over time
Most CDs only allow a one-time deposit. If you’d like to continue adding money to your savings after you’ve opened the account, consider a high-yield savings account.
💰You can earn up to 5% APY on today’s best high-yield savings accounts. Check out top savings rates now.
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, America First Federal Credit Union, American Express National Bank, Barclays, Bask Bank, BMO Alto, Bread Savings, Capital One, CFG Bank, CIT, CommunityWide Federal Credit Union, Discover, EverBank, First Internet Bank of Indiana, First National Bank of America, Forbright, LendingClub, Limelight Bank, Marcus by Goldman Sachs, MYSB Direct, NexBank, Quontic, Rising Bank and Synchrony.
*APYs as of May 2, 2025, based on the banks we track at CNET. Earnings are based on APYs and assume interest is compounded annually.
