Unlike savings accounts, which have variable rates, CDs offer a fixed rate.
That means your returns won’t change, regardless of the rate environment.
If you want to maximize your earnings, the key is to act now.
APYs have been falling, and experts expect they’ll continue falling in the coming months.
So, the sooner you open a CD, the higher the APY you’re likely to secure.
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When it cuts this rate, banks drop these APYs.
The top APY – 4.65% – is still more than double thenational averagefor some terms.
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.
*APYs as of Jan. 7, 2025, based on the banks we track at CNET.
Earnings are based on APYs and assume interest is compounded annually.
**Weekly percentage increase/decrease from Dec. 30, 2024, to Jan. 6, 2025.
