Today’s CD rates remain above the national average after three Federal Reserve interest rate cuts in 2024. Consider locking in high rates with a certificate of deposit (CD) soon. Gainbridge® offers a 5.5% APY on a 5-year CD with a $1000 minimum deposit as of August 11, 2025.

Online banks and credit unions often offer more competitive CD rates than traditional banks. The highest national average CD rate for a 1-year term is 1.77%, but current rates are among the highest in nearly two decades due to the Federal Reserve’s efforts to fight inflation.

When opening a CD, prioritize a high APY and term length that align with your financial goals. Shop around, consider online banks for better rates, check minimum deposit requirements, and review account terms like early withdrawal penalties and auto-renewal policies. Some CDs offer more flexibility, like no-penalty CDs.

Read more at Yahoo Finance: Best CD rates today, August 11, 2025 (Lock in up to 5.5% APY)