The Federal Reserve’s latest rate pause is great news for savers, especially those thinking of opening a certificate of deposit.When the Fed holds interest rates steady, banks tend to do the same with their CD rates. That means there’s still time to score up to 4.65% annual percentage yield, or APY, with today’s best CDs. And since your APY is locked in when you open a CD, your earnings will stay the same even if the Fed cuts rates later this year — which experts expect it will. Here are some of the highest CD rates and how much you could earn by depositing $5,000.Today’s best CD rates 6 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.Open a CD now to maximize your earning potentialAPYs 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 6 months 4.11%4.10%-0.24%1 year 4.05%4.06%0.00253 years 3.53%3.54%0.00285 years 3.52%3.55%0.0085 Things to keep in mind when comparing CDsA competitive APY is important, but it’s not the only thing you should consider. To find the right CD for you, weigh these factors, 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 t
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