Lock in a high CD rate today to help your savings grow. Rates vary across institutions, so find the best one. Longer-term CDs no longer offer higher rates, as banks now pay more for shorter terms. Gainbridge® offers the highest CD rate at 5.5% APY on a 5-year CD with a $1000 minimum deposit.

Your CD’s interest depends on the APY, which considers the base rate and compounding frequency. A one-year CD at 1.81% APY with monthly compounding would grow to $1,018.25. Choosing a 4% APY CD would grow to $1,040.74. Depositing more earns you more – a $10,000 CD at 4% APY would grow to $10,407.42.

Consider other CD types beyond traditional ones for different benefits. Bump-up CDs allow for a rate increase once, while no-penalty CDs let you withdraw early. Jumbo CDs require higher minimum deposits but may not offer significantly higher rates. Brokered CDs are purchased through a brokerage and may offer higher rates but carry more risk.

Read more at Yahoo Finance: Best CD rates today, August 10, 2025 (lock in up to 5.5% APY)