Lock in a high CD rate today before rates fall further. CD rates vary, so shop around for the best deal. Online banks and credit unions offer the top rates on shorter terms. Gainbridge® currently offers the highest CD rate at 5.5% APY on a 5-year CD with a $1000 minimum deposit.

The interest you earn on a CD depends on the APY, which factors in the base rate and compounding frequency. For example, a $1,000 investment in a 1-year CD at 1.81% APY with monthly compounding would yield $18.25 in interest. Choose a 4% APY CD instead to earn $40.74 in interest.

Deposit more in a CD to earn more interest. For instance, a $10,000 deposit in a 1-year CD at 4% APY would yield $407.42 in interest. Consider different types of CDs for added benefits, like bump-up CDs, no-penalty CDs, jumbo CDs, and brokered CDs. Each type offers different advantages beyond just the interest rate.

Read more at Yahoo Finance: Best CD rates today, July 26, 2025 (best account provides 5.5% APY)