Want to increase your earnings? Now is the time to take advantage of the higher certificate at deposit rates.

The annual percentage of yields, or apys, in CDs fall within months in response to a series of reduction in the Federal Reserve rate. But with experts who expect Fed to stop meeting rates next week, most banks keep the apy where they are now. That means there is more time to lock a great rate and protect your returns from the cuts that are likely to do the Fed later this year. TODAY Top CDs offers the apy as high as 4.65%.

Here are some of the highest CD rates now and how much you can do by depositing $ 5,000.

Experts recommend comparing rates before opening a CD account to get the best possible apy. Enter your info below to get the best rates of CNET colleagues for your area.

Opening a CD now can improve your earnings

APY on CDs and SAVINGS ACCOUNT has been passing since Federal Reserve cut rates In the last three meetings of it. But with the inflation inflation inflation back upMany experts believe the FED will hold rates steadily next week meeting. And banks appear to be hedging their stakes by holding CD rates a little steady, too.

“We are looking forward to no action on the next Fed meeting, because current signals suggest a careful, waiting method to determine the flow of interest rate this year, “said Chad Olivier, Certified Financial Planner and CEO of The Olivier Group. “We are still thinking there is a easing environment for the Fed. However, all markets, on one side, waiting to see what will happen to the new administration before they work and be aggressive to the newer low interest rates. “

Experts expect to see reductions at the rate later this year, so securing high apy now can increase your potential income. Your apy will be locked when you open a CD, which means that your returns remain the same no matter where the total rates go.

What to look for when choosing a CD

The competition is important, but it’s not just what you need to remember. To find the correct CD for you, it will also be bitten reasons:

• If you need your money: Sanctions on early withdrawal can eat your interest in interest. So make sure to select a term to fit your storage timeline. On the other hand, you can choose a CD without punishmentAlthough apy may not be as high as you can get on traditional CDs at the same term.
• Minimum deposit requirements: Some CDs require a minimum amount to open an account – usually, $ 500 to $ 1,000. Others do not. How much money do you allocate help you find your choices.
• Payment: Maintenance and other bills can eat your income. many online banks Do not charge and pay for lower overhead costs than banks with physical branches. However, read the good print for any account you have weighed.
• Federal Deposit Insurance: Make sure any bank or Credit Union you considered member of FDIC or NCUA to protect your money If the bank fails.
• Customer ratings and reviews: Visit sites like TrustPilot to see what customers say about the bank. You want a bank of responsive, professional and easy to work.

procedures

CNET checked CD rates based on the latest apy info from the issuer websites. We evaluated CD rates from more than 50 banks, credit union and financial companies. We checked CDs based on apy, product offerings, accessibility and customer service.

Current banks attached to the weekly CD average in CNET include Alliant Credit Union, Ally Bank, American Express National Bank, Barclays, Bask Bank, CFG Bank, CFG Bank, Marcus by Goldman Sachs, MySB Direct, Quontic, Rising Bank, Synchrony, Everbank, Popular Bank, America First Federal Credit Union, Communitywide Federal Credit Union, Discover, Bethpage, BMOlight Bank of America and Connexus Credit Union.

* APYs on January 24, 2025, based on banks we tracked with CNET. The earnings are based on the apy and believe that interest is mixed each year.

** weekly percentage increase / decrease from Jan. 6, 2025, to Jan. 13, 2025.

In addition to CDs