Top CDs offer up to 4.50% APY – more than three times the national average in a certain term.
If you emphasize economic headlines, a proof of deposit can provide some much-needed peace of mind.
“CD provides yields and fixed income, which can be a welcome source of stability in such a turbulent political and economic environment,” said Noah Damsky, head of Marina Wealth Advisors. “CD can be a good choice if you want to earn a steady income, sleep well at night and avoid the circumference of the stock market.”
However, if you want to maximize your returns, you may want to take action immediately. Today's CD top yields are still as high as 4.50%, but interest rates are still falling despite the latest pace of the Fed. As the recession is imminent, APY may continue to decline even if the Fed pauses expectations this week. So the sooner you lock in your APY, the greater your income will be.
Best CD rates for the week
| semester | The highest APY* | bank | Estimated earnings from a deposit of $1,000 | Estimated earnings from a $5,000 deposit | Estimated earnings from a $10,000 deposit |
|---|---|---|---|---|---|
| 6 months | 4.50% | Community-wide federal credit union | $22.25 | $111.26 | $222.52 |
| 1 year | 4.40% | Community-wide federal credit union | $44.00 | $220.00 | $440.00 |
| 3 years | 4.15% | The first credit union in the United States | $129.74 | $648.69 | $1,297.38 |
| 5 years | 4.20% | The first credit union in the United States | $228.40 | $1,141.98 | $2,283.97 |
Experts recommend comparing rates to get the best APY before opening a CD account. Enter your information below to get the best interest rates for CNET partners.
The main reasons why you open the CD today
CDs offer many benefits, including:
😌Low risk
CDs held by FDIC Insurance Bank or NCUA-insured credit unions are protected by $250,000 per store, agency, and account category. This means that if your bank fails, your money is safe. Other investments (such as stocks) may produce higher returns in the long run, but they also volatility, which means you may lose money at any time.
📈Guaranteed return
Unlike savings accounts, when you open the CD, your APY is locked, in which case the interest rate may vary at any time. The fixed interest rate on CDs makes it easy to calculate how much interest you will earn over time and protect your funds from falling interest rates once you open your account.
💰Competition Rate
Traditional savings accounts offer minimal APY, sometimes as low as 0.01%. Today's highest CD has an APY of 4.50% or more, which can change your interest income and help your funds keep up with inflation.
✋Entry barrier
However, if you take the money out before the end of the semester, many CDs will withdraw the fines early. This can help you resist the urge to immerse your money before you need it.
if…
CDs have many benefits, but they are not always suitable for your needs. A high yield savings account may be a better option if the following method is.
🏧You want to be ready to use your funds
If you take the money out of the CD, you will pay the fine. You can withdraw cash from your savings account at any time, free (as long as you mind any monthly withdrawal restrictions). This makes Hysas perfect for contingency funds.
🫰You don't have a lot of money to deposit
Some CDs require a minimum deposit to open an account, usually from $500 to $1,000. If you can't find an attractive APY account you want to deposit the amount, try checking out a low yield savings account that has low or no minimum deposit.
💵You want to increase your funds over time
Most CDs only allow one-time deposits. If you want to continue to increase your money to your savings after you open an account, consider a high yield savings account.
You can earn up to 5% APY in today's best high yield savings accounts. Check Maximum savings rate Now.
Methodology
CNET reviews CD rates based on the latest APY information from the issuer's website. We evaluate CD rates for over 50 banks, credit unions and financial companies. We evaluate CDs based on APY, product products, 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 Banking and Sync.
*As of May 2, 2025, based on banks we track on CNET. The gain is based on APY and assumes that interest is more complex every year.
