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CNET
27-05-2025
- Business
- CNET
You Could Earn $400 (or More) if You Invest in This CD
All CDs are not created equal. Deagreez/Getty Images If you're thinking of opening a certificate of deposit, it pays to shop around. Big banks aren't the only places that offer great rates -- you can often find top APYs by expanding your search to online banks and credit unions. Right now, the highest APY for CDs we track at CNET is 4.40%, and it's offered by CommunityWide Federal Credit Union's one-year CD. To give you an idea of how much that can net you, here's a look at your interest earnings if you deposit different amounts into this account. Read more: Best CD Rates for May 2025: Boost Your Savings With APYs as High as 4.50% How much you could earn with CommunityWide Federal Credit Union's 1-year CD Your returns will vary based on how much you put into this CD. The minimum deposit CommunityWide Federal Credit Union requires is $1,000, so here's how much you could earn with that and some other amounts. Term Amount deposited APY Interest earned Balance at maturity 1-year $1,000 4.40% $44.00 $1,044.00 1-year $2,000 4.40% $88.00 $2,088.00 1-year $5,000 4.40% $220.00 $5,220.00 1-year $10,000 4.40% $440.00 $10,440.00 APYs as of May 23, 2025, based on the banks we track at CNET. Earnings are based on APYs and assume interest is compounded annually. Other CD terms CommunityWide Federal Credit Union offers seven different CD terms, ranging from six months to five years, and they all offer competitive APYs. Here's how much you could earn in each if you deposit $2,000: Term APY Interest earned on a $2,000 deposit Balance at maturity 18 month 4.20% $127.31 $2,127.31 24 months 4.00% $163.20 $2,163.20 36 month 3.80% $236.77 $2,236.77 48 months 3.60% $303.93 $2,303.93 60 month 3.40% $363.92 $2,363.92 APYs as of May 23, 2025, based on the banks we track at CNET. Earnings are based on APYs and assume interest is compounded annually. Earnings with other high-interest CDs CommunityWide Federal Credit Union may be the top CD on our list, but plenty of other banks and credit unions offer competitive rates, and you may find they're a better fit for your needs. Here are some other accounts worth considering and where you'll find them. Term Bank APY Interest earned on a $2,000 deposit Balance at maturity 1-year NexBank 4.35% $87.00 $2,087.00 1-year Limelight Bank 4.30% $86.00 $2,086.00 1-year CFG Bank 4.15% $83.00 $2,083.00 1-year Capital One 4.00% $80.00 $2,080.00 APYs as of May 23, 2025, based on the banks we track at CNET. Earnings are based on APYs and assume interest is compounded annually. How to choose the right CD for you APY isn't the only thing you should think about when comparing CDs. To find the best account for you, you should also consider: When you'll need the money: To get the highest return, you must keep your money in a CD for the entire term. If you take it out before the CD matures, you'll pay an early withdrawal penalty that will chip away at your earnings. So, look for a bank with CD terms that fit your savings timeline. To get the highest return, you must keep your money in a CD for the entire term. If you take it out before the CD matures, you'll pay an early withdrawal penalty that will chip away at your earnings. So, look for a bank with CD terms that fit your savings timeline. How much you have to deposit: Some banks have no minimum deposit requirements for their CDs, while others require anywhere from $500 to $1,000. If an account asks for more than you have to deposit, it's off your list of options. Some banks have no minimum deposit requirements for their CDs, while others require anywhere from $500 to $1,000. If an account asks for more than you have to deposit, it's off your list of options. Fees: Read the fine print to see if you'll incur any charges like monthly maintenance fees. Many online banks offer fee-free CDs, but if you decide to go with a bank that charges fees, make sure you know what they are so you aren't surprised. Read the fine print to see if you'll incur any charges like monthly maintenance fees. Many online banks offer fee-free CDs, but if you decide to go with a bank that charges fees, make sure you know what they are so you aren't surprised. Federal deposit insurance: Look for an FDIC-insured bank or NCUA-insured credit union. CDs at these accounts are protected for up to $250,000 per person, per account category, so your money will be safe if the institution fails.
CNET
13-05-2025
- Business
- CNET
If You Deposit $10,000 Into a CD Today, Here's How Much Interest You'll Earn
A CD can help you grow your money reliably, however much you have to deposit.A certificate of deposit has plenty of perks, but one of the top ones is a fixed interest rate. Your annual percentage yield (APY) is locked in when you open a CD, so your earnings stay the same regardless of what happens in the economy. At a time when the economy is shaky -- as it is now -- that can be especially valuable. Today's top CDs offer APYs as high as 4.50% -- more than three times the national average for some terms. What does that look like in dollars and cents? Let's break down how much interest you'd accrue by deposit $10,000 into one of these CDs. (And if you don't have $10,000 to deposit, don't worry. We'll look at other amounts, too.) How much can you earn by depositing $10,000 into a CD? Here's how much you can earn if you deposit $10,000 into a six-month, one-year, three-year and five-year CD. We're calculating your return based on the highest APYs currently available for each CD term, based on the banks we track at CNET. Earnings for a $10,000 CD deposit Term Top APY Bank Interest earnings CD value at maturity 6 months 4.50% CommunityWide Federal Credit Union $222.52 $10,222.52 1 year 4.40% Bask Bank; CommunityWide Federal Credit Union $440.00 $10,440.00 3 years 4.15% America First Credit Union $1,297.38 $11,297.38 5 years 4.20% America First Credit Union $2,283.97 $12,283.97 APYs as of May 13, 2025, based on the banks we track at CNET. Earnings are based on APYs and assume interest is compounded annually. The national average for a one-year CD is 1.77% APY, while the average one-year CD based on the banks we track at CNET is 4.00% APY. If you deposit $10,000 into a one-year CD that pays the national average of 1.78% APY, the value at maturity would be $10,177.00. If you deposit $10,000 into a one-year CD that earns 4.40% APY (the top APY from our list), it would be worth $10,440.00 at maturity. Don't have $10,000? No problem. Here's what you can earn with a smaller deposit You don't need to have $10,000 on hand to earn a competitive interest rate on your savings. Most of the CD accounts on our list don't have a minimum deposit required to lock in a high CD rate. Here's what you could earn with other deposit amounts: Earnings for smaller CD deposits Term Top APY $500 deposit $1,000 deposit $2,500 deposit $5,000 deposit 6 months 4.50% $11.13 $22.25 $55.63 $111.26 1 year 4.40% $22.00 $44.00 $110.00 $220.00 3 years 4.15% $64.87 $129.74 $324.35 $648.69 5 years 4.20% $114.20 $228.40 $570.00 $1,141.98 APYs as of May 13, 2025, based on the top APY available from the banks we track at CNET. Earnings assume interest is compounded annually. How CD interest is calculated When you open a CD, the APY represents the actual rate of return you'll earn on your deposit in one year. The APY reflects compounding interest, which means you aren't just earning interest on your initial deposit -- your interest also earns interest. Some banks compound interest daily, while others compound interest monthly, quarterly or semi-annually. The more often interest is compounded, the more money you'll earn. You can use a compound interest calculator to figure out how much your money can grow in a CD. We recommend using this calculator from the US Securities and Exchange Commission. Watch out One of the biggest trade-offs for most CDs is early withdrawal penalties. If you need to pull out your money early, most CDs charge you an early withdrawal penalty equal to a certain period's worth of interest. These penalties can eat into your interest earnings. If you'll need to access your money sooner, a high-yield savings account may be a better fit. Still growing your savings? A high-yield savings account can help CDs are a great option if you already have money saved that you don't won't need to touch for a set period. Most of us don't have a few thousand on hand that we can part with for a few years in exchange for a fixed interest rate. And that's OK. A high-yield savings account or money market account that earns a competitive APY is your best bet if you're still growing your emergency fund, working on your savings goals or want to withdraw your money as you need it. These accounts let you build your savings as you can, while still having access to your money if you need it. Contributing as little as $100 a month can help you work up to $1,200 in savings each year. If you can contribute more, say $250 a month, you could build an emergency fund of $3,000 in a year. And that's not counting the interest you'll earn on top of your savings. Although savings accounts have variable interest rates -- meaning they can rise and fall based on the economy and your bank's discretion -- experts expect savings rates will remain high all year. Right now, you can earn up to 5% APY with some online high-yield savings accounts. Growing a savings account takes time. Focus on what you can contribute and get into the habit of saving so it becomes a routine. You can also use automated savings tools, like round-ups and automatic transfers, to grow your savings a little faster without taking up your time. CNET Money editors are big fans of Ally Bank's automated savings features, but many online banks also offer helpful savings features.
CNET
12-05-2025
- Business
- CNET
Best CD Rates - Week of May 12 - May 16, 2025
APYs remain attractive, but that won't be the case still time to lock in a great annual percentage yield (APY) on a certificate of deposit -- but don't wait too long. While the Federal Reserve held interest rates steady at last week's meeting, APYs have been quietly falling for weeks now and this trend is likely to continue as banks anticipate a Fed rate cut later this year. Experts recommend taking advantage of high APYs now to maximize your returns. You can earn up to 4.5% APY with today's top CDs. That's more than three times the national average for some terms. But the key is to act now. Best CD rates this week Term Highest APY* Bank Estimated earnings on $1,000 deposit Estimated earnings on $5,000 deposit Estimated earnings on $10,000 deposit 6 months 4.50% CommunityWide Federal Credit Union $22.25 $111.26 $222.52 1 year 4.40% CommunityWide Federal Credit Union $44.00 $220.00 $440.00 3 years 4.15% America First Credit Union $129.74 $648.69 $1,297.38 5 years 4.20% America First Credit Union $228.40 $1,141.98 $2,283.97 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 you should open a CD now CDs offer many benefits, including: 😌 Low risk CDs held by an FDIC-insured bank or NCUA-insured credit union are protected for up to $250,000 per depositor, institution and account category. That means that if your bank fails, your money is safe. Other investments, like stocks, may potentially yield higher returns over the long term but they're also volatile, which means you could lose money at any time. 📈 Guaranteed returns Your APY is locked in when you open a CD, unlike with savings accounts, where interest rates can vary at any time. A CD's fixed rate makes it easy to calculate how much interest you'll earn over time and protects your funds from rate drops after you open your account. 💰 Competitive rates Traditional savings accounts offer minimal APYs, sometimes as low as 0.01%. Today's top-yielding CDs have APYs of 4.50% or more, which can make a difference in your interest earnings and help your money keep pace with inflation. ✋ Barrier to access Many CDs, however, charge an early withdrawal penalty if you take your money out before the term ends. This can help you resist the urge to dip into your funds before you need them. Need flexible access to your funds? Consider a high-yield savings account CDs have plenty of perks but they're not always the right fit for your needs. A high-yield savings account might be a better choice if: 🏧 You want ready access to your funds You'll pay a penalty if you take money out of a CD before it matures. You can withdraw cash from a savings account at any time, free of charge (as long as you mind any monthly withdrawal limits). This makes HYSAs a great fit for an emergency fund. 🫰 You don't have a ton of money to deposit Some CDs require a minimum deposit to open an account, typically $500 to $1,000. If you can't find an account with an attractive APY for the amount you want to deposit, try looking into a high-yield savings account with a low or no minimum deposit. 💵 You want to add funds over time Most CDs only allow a one-time deposit. If you'd like to continue adding money to your savings after you've opened the account, consider a high-yield savings account. 💰You can earn up to 5% APY on today's best high-yield savings accounts. Check out top savings rates now. Methodology CNET 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, America First Federal Credit Union, American Express National Bank, Barclays, Bask Bank, BMO Alto, Bread Savings, Capital One, CFG Bank, CIT, CommunityWide Federal Credit Union, Discover, EverBank, First Internet Bank of Indiana, First National Bank of America, Forbright, LendingClub, Limelight Bank, Marcus by Goldman Sachs, MYSB Direct, NexBank, Quontic, Rising Bank and Synchrony. *APYs as of May 9, 2025, based on the banks we track at CNET. Earnings are based on APYs and assume interest is compounded annually.
CNET
05-05-2025
- Business
- CNET
Best CD Rates - Week of May 5 - May 9, 2025
Top CDs offer up to 4.50% APY – more than three times the national average for some terms. Sarah Tew/CNET If the economic headlines have you stressed, a certificate of deposit can provide some much-needed peace of mind. "CDs offer yield and fixed income, which can be a welcome source of stability in such a volatile political and economic environment," said Noah Damsky, CFA, Principal of Marina Wealth Advisors. "If you're looking to earn a stable income, sleep well at night and avoid the gyrations of the stock market, then CDs can be a great option." But if you want to maximize your returns, you may want to act now. Today's top CDs still earn annual percentage yields (APYs) up to 4.50%, but rates have been slipping despite the Federal Reserve's latest rate pauses. With a recession looming, APYs are likely to keep falling even if the Fed pauses rates again this week as expected. So the sooner you lock in your APY, the greater your earnings could be. Best CD rates this week Term Highest APY* Bank Estimated earnings on $1,000 deposit Estimated earnings on $5,000 deposit Estimated earnings on $10,000 deposit 6 months 4.50% CommunityWide Federal Credit Union $22.25 $111.26 $222.52 1 year 4.40% CommunityWide Federal Credit Union $44.00 $220.00 $440.00 3 years 4.15% America First Credit Union $129.74 $648.69 $1,297.38 5 years 4.20% America First Credit Union $228.40 $1,141.98 $2,283.97 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. Top reasons to open a CD today CDs offer many benefits, including: 😌 Low risk CDs held by an FDIC-insured bank or NCUA-insured credit union are protected for up to $250,000 per depositor, institution and account category. That means that if your bank fails, your money is safe. Other investments, like stocks, may potentially yield higher returns over the long term, but they're also volatile, which means you could lose money at any time. 📈 Guaranteed returns Your APY is locked in when you open a CD, unlike with savings accounts, where interest rates can vary at any time. A CD's fixed rate makes it easy to calculate how much interest you'll earn over time and protects your funds from rate drops after you open your account. 💰 Competitive rates Traditional savings accounts offer minimal APYs, sometimes as low as 0.01%. Today's top-yielding CDs have APYs of 4.50% or more, which can make a difference in your interest earnings and help your money keep pace with inflation. ✋ Barrier to access Many CDs, however, charge an early withdrawal penalty if you take your money out before the term ends. This can help you resist the urge to dip into your funds before you need them. A high-yield savings account might be a better fit if… CDs have plenty of perks, but they're not always the right fit for your needs. A high-yield savings account might be a better choice if: 🏧 You want ready access to your funds You'll pay a penalty if you take money out of a CD before it matures. You can withdraw cash from a savings account at any time, free of charge (as long as you mind any monthly withdrawal limits). This makes HYSAs a great fit for an emergency fund. 🫰 You don't have a ton of money to deposit Some CDs require a minimum deposit to open an account, typically $500 to $1,000. If you can't find an account with an attractive APY for the amount you want to deposit, try looking into a high-yield savings account with a low or no minimum deposit. 💵 You want to add funds over time Most CDs only allow a one-time deposit. If you'd like to continue adding money to your savings after you've opened the account, consider a high-yield savings account. 💰You can earn up to 5% APY on today's best high-yield savings accounts. Check out top savings rates now. Methodology CNET 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, America First Federal Credit Union, American Express National Bank, Barclays, Bask Bank, BMO Alto, Bread Savings, Capital One, CFG Bank, CIT, CommunityWide Federal Credit Union, Discover, EverBank, First Internet Bank of Indiana, First National Bank of America, Forbright, LendingClub, Limelight Bank, Marcus by Goldman Sachs, MYSB Direct, NexBank, Quontic, Rising Bank and Synchrony. *APYs as of May 2, 2025, based on the banks we track at CNET. Earnings are based on APYs and assume interest is compounded annually.
