Today's top CDs offer up to 4.50% APY.
Economic headlines are enough to make anyone dizzy. Tariffs have come into effect, adjusted and suspended. The stock market is already crazy. As a currency editor who keeps an eye on news, I watch it all happen in real time. As someone who lives in this economy, this has led me to find a way to protect my money from chaos.
One tried and tested method that experts recommend is to put some of my cash in the deposit certificate. Unlike the stock market, CDS Promise guarantees earnings because the fees you get when you open an account are locked. Thanks to federal deposit insurance, your returns will never drop, and your money is safe.
Until recently, I have been using extra cash to build my contingency fund. If the unexpected increase in fees, this is the money I can get at any time. But now that I have a comfortable amount in my high yield savings account, I can look elsewhere to put cash in. CD stability is now the music of my ears.
If you've been craving your economic uncertainty, these top CDs are worth considering.
The best CD prices today
| 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% | Bask Bank; Community-wide federal credit unions | $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.
- Access barriers: 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.
Not ready to lock your money yet? Consider a high yield savings account
CDs have many benefits, but they are not always suitable for your needs.
“Currently, CDs and high-yield savings accounts are good choices, but you have to remember that CDs have fixed deadlines and HYSA has more flexibility to get your funds,” said Krisstin Petersmarck, financial advisor at New Horizon Retirement Solutions. “The trade-off is that CDs offer higher interest rates, and your funds lock your funds compared to Hysas that offer lower interest rates.”
To determine if CD is the right choice for your money, ask yourself the following questions:
- When do you need your funds? If you take the money out of the CD, you will pay the fine. By contrast, you can withdraw cash from your savings account at any time, for free (as long as you mind any monthly withdrawal restrictions).
- How much do you have 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.
- Do you want to increase your money over time? Most CDs (although not all) only allow one-time deposits. If you want to regularly add money to your savings over time, consider a high yield savings account.
- Do you need some discipline? If you are worried that you will be tempted to take advantage of your savings before you need it, the CD will withdraw the penalty ahead of time, which can help you stop.
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 April 21, 2025, according to banks we tracked on CNET. The gain is based on APY and assumes that interest is more complex every year.
