you might lock in today’s high rates byopening a CD nowand protect your earnings from additional rate cuts.
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Not all CDs are equal, though.
it’s possible for you to typically find the bestannual percentage yields, or APYs, atcredit unionsandonline banks.
input your information below to get CNET’s partners' best rate for your area.
The Fed doesn’t directly impact CD rates, but it does control the federal funds rate.
The federal funds rate is the overnight lending rate banks charge one another to borrow funds.
When the federal funds rate goes down, rates on consumer products like CDs andsavings account ratestend to follow.
Even with another rate cut looming, CD rates will likely drop, but they won’t plummet overnight.
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 Dec. 5, 2024, based on the banks we track at CNET.
Earnings are based on APYs and assume interest is compounded annually.
Weekly percentage increase/decrease from Nov. 29, 2024, to Dec. 2, 2024.
