Act Now and Lock in Up To 4.65% APY. Today’s CD rates, February 3, 2025
The Federal Reserve has paused interest rates for the time being. This is good news for those who are considering opening a CD. The Federal Reserve’s latest rate pause is great news for savers, especially those who are considering opening a certificate of deposit. The best CD rates today are listed below.
- Here are some of the highest CD rates and how much you could earn by depositing $5,000.
- Today’s best CD rates
- Term
Highest APY*
Bank
Estimated earnings
6 months
| 4.65% | CommunityWide Federal Credit Union | $114.93 | 1 year |
|---|---|---|---|
| 4.45% | CommunityWide Federal Credit Union | $222.50 | 3 years |
| 4.15% | America First Credit Union | $648.69 | 5 years |
| 4.25% | America First Credit Union | $1,156.73 | Experts recommend comparing rates before opening a CD account to get the best APY possible. Enter your information below to get CNET’s partners’ best rate for your area. |
| Open a CD now to maximize your earning potential | APYs on CDs and savings accounts have been falling since the Fed cut interest rates three times at the end of 2024. The Fed decided to keep rates at the same level during its January meeting. Experts believe that rates will remain paused until inflation starts to rise again. As a result, banks are hedging their bets by keeping CD rates relatively flat, too, particularly given the uncertainty around the new administration’s policies. | “The Fed’s goal is to bring inflation down further, and if tariffs come into play, they could have an inflationary effect,” said Chad Olivier, certified financial planner and CEO of The Olivier Group. Because of the uncertainty, I think that the Fed will wait and see before taking any action. By locking in a high APY, you will maximize your earning potential. Your APY is locked in when you open a CD, which means your rate of return will stay the same even when the Fed begins cutting the benchmark rate again. |
You can earn up to 5% APY on the best high-yield savings accounts. Check out the rates for today
.
Average CD rates from week to week
Term
Last week’s CNET average APY
This week’s CNET average APYWeekly change**6 months4.10%
4.10%
| No change | 1 year | 4.06% | 4.07% |
|---|---|---|---|
| +0.25% | 3 years | 3.54% | 3.55% |
| +0.29% | 5 years | 3.55% | 3.56% |
| +0.28% | Things to keep in mind when comparing CDs | A competitive APY is important, but it’s not the only thing you should consider. You should also consider these other factors when choosing the best CD: | When will you need the money? |
| Early-withdrawal penalties can reduce your interest earnings on CDs if you withdraw your money early. Choose a timeline which makes sense. You can also choose a CD that doesn’t charge a penalty, but the APY will be lower than a CD with the same term. Knowing how much money you have to set aside can help you narrow your options. | Fees: | Maintenance and other fees can cut into your savings. Online banks often don’t charge any fees, as they have lower overhead than traditional banks. Read the fine print for any account you’re evaluating. | Safety and security: |
Make sure the bank or credit union you’re considering is an FDIC or NCUA member 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’s responsive, professional and easy to work with.Methodology
- CNET reviews CD rates based on the latest APY information from issuer websites. We evaluated CDs based on APYs, product offerings, accessibility and customer service. We compare CDs on the basis of APYs and other factors, such as product availability, customer service, and accessibility. Earnings are based on APYs and assume interest is compounded annually.**Weekly percentage increase/decrease from Jan. 27, 2025, to Feb. 3, 2025.
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