There are no maintenance fees for the account. To earn the 5.20% APY, you'll need to deposit at least $1,500 when you open your account. Bread Savings: 5.20% APY, 1-year termīread Savings' one-year CD offers one of the best interest rates for deposits you can get right now. Each of the accounts listed below are FDIC-insured. This insurance protects your balances up to $250,000 per account type, per institution against bank failure. It's also important to make sure any financial institution you open a CD with is insured by the FDIC. Below, we've gathered some of the top-earning CDs for you to consider if you're looking to maximize interest on your savings.Ĭheck your CD options here to discover how much more you could be earning.

Today, many top CD rates are around 4.00% to 4.50% or more - though some offer upwards of 5.00% APY. If you want to withdraw your funds before the term ends, you'll typically face a penalty that could wipe away a portion (or all) of your interest earnings. That's because CDs require you to deposit the full balance upfront to lock in your interest rate over the account term (which typically ranges from a minimum of three months to 10 years). While high-yield savings accounts are ideal options for savers who want to build an emergency fund or contribute over time, certificates of deposit (CDs) offer the opportunity to put your existing savings in an account and lock in today's great rates long term, without worrying about interest falling in the future. Locking in a CD with a great APY can help ensure you're maximizing today's high rates.Īs the Federal Reserve continues to raise interest rates, savers are in a great position to boost their savings balances with interest.

Cd with highest interest rate