- You can get up to 4.65 % APY on today’s top CD.
- Experts hope that the Fed will hold a stable interest rate at a meeting on January 28-29.
- The Fed is likely to reduce prices in the latter half of this year, and now it’s time to lock it to a high APY.
Bad News: Inflation is backed up. Good News: It can increase the time to lock a high deposit rate on the saver.
CD rates have declined since the Fed has reduced interest rates in the past three meetings. However, the increase in inflation again, and the experts hope that the Fed will be suspended at this week’s meeting. As a result, the CD rate may be stable for the time being.
Today’s best CD has earned a 4.65 % yield or APY per year. By locking APY, you can confirm that the return remains the same, even if the Fed is reduced the benchmark rate again in spring or early summer.
The following shows the best CD rate and the amount that can be earned by depositing $ 5,000.
Today’s best CD rate
| semester | The best apy* | bank | Estimated income |
|---|---|---|---|
| Six months | 4.65 % | Federal credit union for the entire community | $ 114.93 |
| One year | 4.45 % | Federal credit union for the entire community | $ 222.50 |
| Three years | 4.15 % | American First Credit Union | $ 648.69 |
| Five years | 4.25 % | American First Credit Union | $ 1,156.73 |
Experts recommend that you compare the fee before opening a CD account and get the best APY as possible. Enter the following information and get the highest rate of CNET partners in your area.
What is the relationship with the CD rate?
Since the Fed has reduced interest rates in the past three meetings, the APY for CDs and savings accounts has decreased. However, when inflation rises again, experts believe that the Fed is stable at the January 29 meeting. Banks are also hedging their bets by keeping the CD rates relatively flat, especially in consideration of the uncertainty about the policy of the new administration.
“The current signal suggests a cautious approach to determine the pace of this year’s interest rate reduction,” said CHAD OLIVIER, a certified financial planner and CEO. Olivier Group。
It is expected that the Fed will still be alleviated in the second half of this year, but “The market is in a certain respect, and wait for what will happen before the new administration actually intervenes and becomes aggressive in low interest rates. I am, “said Olivier.
You can maximize your savings by securing a high APY now. When you open the CD, Apy is locked. In other words, the return rate remains the same regardless of where the Fed benchmark rate goes afterwards.
LingeringYou can get up to 5 % APY with the highest high income savings account. Check -out Today’s price。
How did the CD rate last week change?
| semester | Last week’s CNET average APY | This week’s CNET average APY | Weekly change ** |
|---|---|---|---|
| Six months | 4.11 % | 4.10 % | -0.24 % |
| One year | 4.05 % | 4.06 % | +0.25 % |
| Three years | 3.53 % | 3.54 % | +0.28 % |
| Five years | 3.52 % | 3.55 % | +0.85 % |
How to choose the best CD for you
APY with competitive power is important, but don’t pay attention to it alone.
To find a CD that is suitable for you, weigh these factors.
- When you need money: For early withdrawal of CDS, if you need money before the period ends, you can bite into interest income, so please select a reasonable timeline. Alternatively, APY may not be as expensive as you can get with the conventional CD of the same term, but you can select a non -penalty CD.
- Minimum deposit requirements: Some CDs require a minimum deposit to open an account. Usually it costs $ 500 to $ 1,000. Knowing how much money you need to put will help you narrow down your options.
- Fee: Maintenance and other rates can be reduced to savings. Many online banks do not charge a fee because the overhead costs are lower than banks with physical branches. Please read the detailed printing of the account you are evaluating.
- Safety and security: Make sure that the bank or credit union you are considering is a FDIC or NCUA member. If the bank fails。
- Customer evaluation and review: Access sites like Trustpilot and make sure your customers are talking about banks. You need a high -responsiveness, professional, easy -to -work bank.
Methodology
CNET reviews the CD rate based on the latest APY information from the publisher website. We evaluated the CD rate of more than 50 banks, credit unions, and financial companies. Evaluate CDs based on APY, product provision, accessibility, and customer service.
The current bank, which is included in the weekly CDs, includes Alliant Credit Union, American Express National Bank, BARCLAYS, BASK BANK, CAPITAL ONE, CFG. , Fulbright, Marcus, MySB Direct, Quontic, RISING, SynchRony, Popular Bank, First Internet Bank of Indiana, Federal Credit Unions, BMO Alto, Bank 1 Bank, Kotomitsu Bank Nexus Credit Union.
*As of January 28, 2025, APY based on bank tracked on CNET. The revenue is based on APY, assuming that you are not interested every year.
** The percentage of weeks will increase/decrease from January 21, 2025 to January 27, 2025.
