Key takeaways You can earn up to 4.65% APY with today's best CDs.
APYs haven't shifted much in recent days, but they won't stay high forever.
By opening a CD now, you can protect your earnings from expected Fed rate cuts.
Sometimes, no news is good news. As banks wait to see how long the Federal Reserve keeps interest rates paused, certificate of deposit rates haven't budged much over the past week. That's good news for savers who have yet to take advantage of still-elevated annual percentage yields.
Today's best CDs offer APYs as high as 4.65% -- more than double the national average for some terms. And since your APY is locked in when you open a CD, you'll continue to enjoy the same high earnings even if the Fed cuts interest rates, which experts expect it will later this year.
Ready to maximize your returns? Read on to see some of the highest CD rates available now 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.
Why CD rates remain elevated – for now
A CD can be a great place to stash your cash at any time, but in periods of inflation like today's, they can be especially lucrative. As the Federal Reserve raises interest rates to fight inflation, banks tend to follow suit, raising APYs on consumer products like CDs and savings accounts.
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