If you're searching for a risk-free way to grow your money, certificates of deposits are a wise option to consider. The best CD rates help you reach your savings goal while outpacing inflation.
Furthermore, you'll received a fixed interest rate that doesn't change throughout the term, and they offer guaranteed returns.
Use our Bankrate tool to find the best CD rates available:
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Best 3-month CD rates
Short-term CDs, such as 3-month or 6-month CDs, can be good options for individuals who don’t want to commit to having their cash tied up for long periods of time. If you have shorter savings goals, such as a vacation or purchases you don't want to use credit for, you can earmark money now for those goals.
However, it’s important to compare rates across accounts to be sure you’re getting the best return on your cash. For instance, you're likely to get a similar, or even higher, APY when opening a high-yield savings account or money market account.
With these more flexible savings vehicles, you won’t have to wait long to withdraw funds from your account. But they can have a downside: It's easier to make impulse purchases with cash in a high-yield savings account than cash that is tied up in a CD.
Account | APY | Min. Opening Deposit |
|---|---|---|
4.40% | $500 | |
4.40% | $10,000 | |
4.35% | $1,000 | |
4.25% | $1,000 | |
4.25% | $1,000 | |
4.00% | $500 |
Best 6-month CD rates
Account | APY | Min. Opening Deposit |
|---|---|---|
4.40% | $2,500 | |
4.50% | $5,000 | |
4.41% | $25,000 | |
4.40% | $500 | |
4.20% | $1,000 | |
4.15% | $500 | |
4.00% | $5 |
Best 1-year CD rates
One-year CDs are smart vehicles if you want to park your money and forget about it, while you wait to see how the market goes moving forward.
Remember: You won’t be able to access your cash once it’s put into a CD account (unless you opt for a no-penalty CD account). For this reason, cash you’ll need to access, such as savings in an emergency fund, should be saved elsewhere.
You might also want to open a number of CDs with varying maturity dates if you’re building a CD ladder. With this strategy you stagger, or "ladder," maturities so that some are always coming due in the near future.
For example, if you have $10,000 to invest, you could split it equally into five “rungs,” putting $2,000 into CDs with maturity dates a year apart: $2,000 in a 1-year CD, $2,000 in a 2-year CD and so on.
When each CD matures, you’ll invest your cash, plus any earned interest, into another 5-year CD. You’ll then have five 5-year CDs, with one maturing each year, providing a consistent cash flow.
See Kiplinger's full list of top earning 1-year CD rates.
Account | APY | Min Deposit |
|---|---|---|
4.40% | $5,000 | |
4.40% | $25,000 | |
4.40% | $1,000 | |
4.30% | $500 | |
4.30% | $1,000 | |
4.25% | $25,000 | |
4.10% | $1,000 | |
4.20% | $500 |
Best 2-year CD rates
Account | APY | Min. Opening Deposit |
|---|---|---|
4.28% | $500 | |
4.00% | $500 | |
4.00% | $5,000 | |
3.97% | $100 | |
3.00% | $0 | |
3.50% | $2,500 |
Best 3-year CD rates
See Kiplinger's full list of top earning 3-year CDs.
Account | APY | Min Deposit |
|---|---|---|
4.00% | $0 | |
4.00% | $200 | |
3.95% | $5,000 | |
3.91% | $500 | |
3.87% | $1,000 | |
3.75% | $1,000 | |
3.75% | $500 | |
3.60% | $1,000 |
Best 4-year CD rates
Account | APY | Min. Opening Deposit |
|---|---|---|
4.28% | $500 | |
4.20% | $500 | |
4.20% | $500 | |
3.80% | $1,000 | |
3.85% | $500 | |
3.80% | $5,000 |
Best 5-year CD rates
A major benefit of opening a long-term CD is that you’ll be able to lock in rates while they’re high. Keep in mind that CDs come with fixed interest rates, so even if the Fed cuts rates in the future, the rate you lock in will stand throughout your term.
Furthermore, five years is a great benchmark for midlevel savings goals. Whether you're helping your children save for a down payment on a home or taking that dream vacation, 5-year CDs can help you reach those goals.
See Kiplinger's full list of top earning 5-year CDs.
Account | APY | Min. Deposit |
|---|---|---|
4.28% | $500 | |
4.25% | $500 | |
4.25% | $500 | |
4.01% | $500 | |
3.85% | $1,000 | |
3.91% | $500 | |
4.09% | $1,000 | |
3.80% | $5,000 | |
3.90% | $500 | |
3.75% | $500 | |
3.75% | $1,000 |
Bottom line on the best CD rates
The Federal Reserve didn't cut interest rates at its June meeting. However, some economists forecast there could still rate cuts this year, meaning now is an excellent time to get a CD while rates are higher.
The only thing to consider is you won't have access to cash during the term. If you make a withdrawal at any point during the term, the penalty fee could offset any interest earned. That aside, CDs are an effortless way to earn more.
Related content
-
Don’t Miss Apple and Walmart Back-to-School Tax-Free Holiday Savings this SummerSales Tax Select states host sales tax holidays during the summer. Here’s what you can purchase.
-
The Rule of Retirement InversionThe rule of retirement inversion says that to have a great retirement, you must ask yourself what would ruin a great retirement — and then plan to avoid it.
-
The Five Best Side Hustles for RetireesMore older people are working in retirement to boost income and stave off boredom. These gigs and hustles make the most sense for the golden years crowd.
-
TSA’s New Family Lanes Aim to Take the Stress Out of Summer TravelThe “Families on the Fly” campaign introduces family-friendly security lanes and discounted TSA PreCheck fees — just in time for peak travel season.
-
From Piggy Banks to Portfolios: A Financial Planner's Guide to Talking to Your Kids About Money at Every AgeFrom toddlers to young adults, all kids can benefit from open conversations with their parents about spending and saving. Here's what to talk about — and when.
-
Retirement in the Age of Cyber Scams: How To Protect Your Next ChapterRetirement is meant to be a time of relaxation and living life on your terms. But for many retirees, this dream is under threat from a growing epidemic — cyber scams.
-
Heat Wave in Europe: What Every Traveler Needs to KnowRecord-breaking summer temperatures, wildfires, and travel disruptions — they’re reshaping summer 2025 trips. Here’s how to stay safe, prepared and savvy.
-
You'll Kick Yourself in the Fall if You Don't Make This Savings Move NowInflation will likely prevent the Fed from cutting rates until the fall. However, does a long-term CD provide enough of a return to outpace climbing prices?
-
Is Your Money in the Wrong Place? Why More Savers Are Shifting Money Away From Big BanksTraditional savings accounts aren’t cutting it — here’s where the money is going instead.
-
Spot Heat Exhaustion in Your Pet Before It Costs Them — and YouHeat strokes aren't just for humans. The signs of heat exhaustion in pets can be harder to spot, but just as deadly.
