Banks are offering varying CD rates, with some still competitive despite the Fed’s rate cuts. Top rates are around 4% APY for shorter terms. Gainbridge® leads with a 5.5% APY on a 5-year CD, requiring a $1000 minimum deposit. Online banks and credit unions also offer high rates compared to national averages. Consider your savings goals before choosing a CD, as they offer security but limited access and may not match market returns for long-term goals.

Read more at Yahoo Finance: Best CD rates today, August 1, 2025 (up to 5.5% APY return)