Key takeaways You can earn up to 4.65% APY with today's best CDs.Your rate is fixed when you open a CD.The Fed is expected to cut rates later this year, making now a wise time to lock in your APY and maximize your earning potential. When it comes to certificates of deposit, choosing the right account can make a big difference in how much you earn. The top CDs we track at CNET offer annual percentage yields, or APYs, up to 4.65%, but the national average is less than half that for many CD terms.Timing also matters. CD rates have been falling for months, but the Federal Reserve's rate pause in January means they're largely holding steady -- for now. Opening a CD today allows you to lock in your APY and enjoy elevated earnings even after the Fed starts cutting rates later this year.Here's where you can find some of the highest CD rates and how much you could earn by depositing $5,000.Today's best CD rates Term Highest APY*BankEstimated earnings6 months 4.65%CommunityWide Federal Credit Union$114.931 year 4.45%CommunityWide Federal Credit Union$222.503 years 4.15%America First Credit Union$648.695 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.How opening a CD today can boost your earningsAPYs on CDs and savings accounts have been falling since the Fed cut interest rates three times at the end of 2024. But with inflation inching back up, the Fed chose to hold rates steady at its January meeting, and experts believe it will keep rates paused for a while. 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 this uncertainty, I believe the Fed will take more of a wait-and-see approach before making any moves."By securing a high APY now, you can 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 today's rates.Average CD rates from week to week Term Last week's CNET average APYThis week's CNET average APYWeekly change**6 months 4.10%4.10%No change1 year 4.06%4.07%+0.25%3 years 3.54%3.55%+0.29%5 years 3.55%3.56%+0.28% Choosing a CD: What to look forA competitive APY is important, but it's not the only thing you should consider. To find the right CD for you, weigh these things, too:When you'll need your money: Early withdrawal penalties on CDs can eat into your interest earnings if you need your money before the term ends, so choose a timeline that makes sense. Alternatively, you can select a no-penalty CD, although the APY may not be as high as you'd get with a traditional CD of the same term.Minimum deposit requirement: Some CDs require a minimum deposit to open an account, typically $500 to $1,000. 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. Many online banks don't charge fees because they have lower overhead costs than banks with physical branches. 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.MethodologyCNET reviews CD rates based on the latest APY information from issuer websites. We evaluated CD rates from more than 50 banks, credit unions and financial companies. We evaluate CDs based on APYs, product offerings, accessibility and customer service.The 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.*APYs as of Feb. 7, 2025, based on the banks we track at CNET. Earnings are based on APYs and assume interest is compounded annually.**Weekly percentage increase/decrease from Jan. 27, 2025, to Feb. 3, 2025.More on CDs