Find the Best CD Rates to Boost Your Savings
In a volatile interest rate environment, securing a solid return on your savings is paramount. Certificates of Deposit (CDs) offer an effective way to lock in today's elevated rates before they vanish.
Top CD Rates by State
Explore our interactive map below to discover the highest CD rates available in each state. Compare offers from banks and credit unions to find the financial institution that aligns with your needs.
5 States with the Highest CD Rates
1. Texas: 7.50% APY
* Abilene Teachers Federal Credit Union (AFTCU)
* Minimum opening deposit: $500
* Maximum investment: $7,500
2. California: 6.00% APY
* Financial Partners Credit Union (FPCU)
* Minimum opening deposit: $1,000
* Maximum deposit: $5,000
3. Illinois: 5.64% APY
* Moline Municipal Credit Union (MMCU)
* Minimum balance: $100,000
4. Utah: 5.30% APY
* Firefighters Credit Union
* Minimum opening deposit: $1,000
5. Iowa: 5.12% APY
* Cornerstone Bank
* Minimum opening deposit: $1,000
Factors to Consider When Choosing a CD
* Annual Percentage Yield (APY): The rate your balance earns over time, including compounding interest.
* Term Length: The duration you agree to keep your funds in the CD.
* Minimum Opening Deposit: The minimum amount required to open the account.
* Early Withdrawal Penalties: Fees incurred if you withdraw funds before maturity.
* Type of Financial Institution: Compare offers from banks, credit unions, and online-only banks.
Methodology
CD rate data is sourced from CD Valet, a comprehensive platform that monitors rates from local and national financial institutions. Rates are valid as of January 31, 2025.
Note: Always verify specific rates and account details directly with financial institutions before opening an account.