you could still earn up to 4.70% annual percentage yield, or APY, with today’stop CDs.
That’s more than twice thenational averagefor some terms.
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The Fed’s actions play a key part in where banks set their CD andsavings accountAPYs.
When the Fed raises the federal funds rate, banks tend to raise APYs on these accounts.
When it cuts the federal funds rate, banks cut their APYs.
Today’s top APY of 4.70% 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 Dec. 20, 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 Dec. 9, 2024, to Dec. 16, 2024.
