The clock is ticking on APY to 4.65%. Today’s CD Prices January 13, 2025
- You can earn up to 4.65% APY with today’s top CDs.
- With APYs falling, the sooner you open a CD, the more interest you can earn.
- In addition to a fixed APY, the best CDs offer low minimum deposit requirements, no fees, and federal deposit insurance.
A certificate of deposit can be a great way to maximize your earnings on money you won’t need to use for a while. Because your interest rate is fixed when you open a CD, you don’t have to worry about a drop in interest rates affecting your returns. In a falling interest rate environment like today, this is especially valuable.
Time is of the essence. Because rates drop, the sooner you open a CD, the higher the rate you can lock in. You can currently earn up to 4.65% APR with today’s the best CDs. That could change tomorrow.
“I wouldn’t bet on rates going up much in the near term, so I’d pull the trigger now if fixed income was a priority,” said Noah Damsky, CFA, director of Marina Wealth Advisors.
Here are some of the highest CD prices right now and how much you can earn by depositing $5,000.
Today’s best CD prices
| Term | Highest APY* | bank | Expected revenue |
|---|---|---|---|
| 6 months | 4.65% | Community Federal Credit Union | $114.93 |
| 1 year | 4.45% | Community Federal Credit Union | $222.50 |
| 3 years | 4.15% | American First Credit Union | $648.69 |
| 5 years | 4.25% | American First Credit Union | $1,156.73 |
Experts recommend comparing rates before opening a CD account to get the best possible APY. Enter your information below to get the best CNET partner price for your area.
Today’s CD prices are the highest you’ve seen in a while
CD rates may still be attractive, but the days of sky-high APYs are over. APYs have been falling for months after a series of Federal Reserve rate cut. The Federal Reserve does not set interest rates directly, but banks tend to move in step with its decisions. When the Federal Reserve lowered rates, banks lowered APYs on products like CDs and savings accounts and vice versa.
To combat COVID-era inflation, the Fed raised rates 11 times starting in March 2022, and CD rates have soared, reaching 5.65% APY for the banks we track at CNET. They have fallen sharply since then, particularly in recent months as cooling inflation prompted the Fed to cut rates at its last three meetings. With experts expecting more rate cuts from the Fed in 2025, locking in one of today’s best APYs can protect your income from further declines.
How CD prices have changed since last month
| Term | CNET average APY as of December 6, 2024 | CNET average APY as of January 6, 2025 | change |
|---|---|---|---|
| 6 months | 4.15% | 4.09% | -1.44% |
| 1 year | 4.07% | 4.03% | -0.98% |
| 3 years | 3.53% | 3.50% | -0.85% |
| 5 years | 3.46% | 3.45% | -0.29% |
Weigh these factors when choosing a CD
A competitive APY is important, but it’s not the only thing to consider. To find the right CD for you, also weigh these factors:
- When will you need your money: Penalties for early withdrawal it can eat into your interest earnings. So be sure to choose a term that suits your savings schedule. Alternatively, you can choose a CD without penaltiesalthough the APY may not be as high as you would get with a traditional CD of the same term.
- Minimum Deposit Requirement: Some CDs require a minimum amount to open an account – usually $500 to $1,000. Others do not. How much money you have to set aside can help you narrow down your options.
- Fees: Maintenance fees and other fees can eat into your profits. a lot online banks they don’t charge fees because they have lower overhead costs than banks with physical branches. However, read the fine print on any account you evaluate.
- Federal Deposit Insurance: Make sure that any bank or credit union consider being a member of the FDIC or NCUA so your money is protected if the bank fails.
- Customer ratings and reviews: Visit sites like Trustpilot to see what customers are saying about the bank. You want a bank that is responsive, professional and easy to work with.
Methodology
CNET reviews CD prices based on the latest APY information from publisher websites. We’ve evaluated CD rates from more than 50 banks, credit unions and finance companies. We rate CDs based on APY, product offerings, affordability and customer service.
Current banks included in CNET’s weekly CD averages include Alliant Credit Union, Ally Bank, American Express National Bank, Barclays, Bask Bank, Bread Savings, Capital One, CFG Bank, CIT, Fulbright, Marcus by Goldman Sachs, MYSB Direct, Quontic, Rising Bank, Synchrony, EverBank, Popular Bank, First Internet Bank of Indiana, America First Federal Credit Union, CommunityWide Federal Credit Union, Discover, Bethpage, BMO Alto, Limelight Bank, First National Bank of America and Connexus Credit Union.
*APY as of January 10, 2025. based on the banks we track at CNET. Earnings are based on APY and assume interest is compounded annually.
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