Best CD Rates - Week of May 5 - May 9, 2025
Sarah Tew/CNET
If the economic headlines have you stressed, a certificate of deposit can provide some much-needed peace of mind.
"CDs offer yield and fixed income, which can be a welcome source of stability in such a volatile political and economic environment," said Noah Damsky, CFA, Principal of Marina Wealth Advisors. "If you're looking to earn a stable income, sleep well at night and avoid the gyrations of the stock market, then CDs can be a great option."
But if you want to maximize your returns, you may want to act now. Today's top CDs still earn annual percentage yields (APYs) up to 4.50%, but rates have been slipping despite the Federal Reserve's latest rate pauses. With a recession looming, APYs are likely to keep falling even if the Fed pauses rates again this week as expected. So the sooner you lock in your APY, the greater your earnings could be.
Best CD rates this week Term Highest APY* Bank Estimated earnings on $1,000 deposit Estimated earnings on $5,000 deposit Estimated earnings on $10,000 deposit 6 months 4.50% CommunityWide Federal Credit Union $22.25 $111.26 $222.52 1 year 4.40% CommunityWide Federal Credit Union $44.00 $220.00 $440.00 3 years 4.15% America First Credit Union $129.74 $648.69 $1,297.38 5 years 4.20% America First Credit Union $228.40 $1,141.98 $2,283.97
Experts recommend comparing rates before opening a CD account to get the best APY possible. Enter your information below to get CNET's partners' best rate for your area.
Top reasons to open a CD today
CDs offer many benefits, including:
😌 Low risk
CDs held by an FDIC-insured bank or NCUA-insured credit union are protected for up to $250,000 per depositor, institution and account category. That means that if your bank fails, your money is safe. Other investments, like stocks, may potentially yield higher returns over the long term, but they're also volatile, which means you could lose money at any time.
📈 Guaranteed returns
Your APY is locked in when you open a CD, unlike with savings accounts, where interest rates can vary at any time. A CD's fixed rate makes it easy to calculate how much interest you'll earn over time and protects your funds from rate drops after you open your account.
💰 Competitive rates
Traditional savings accounts offer minimal APYs, sometimes as low as 0.01%. Today's top-yielding CDs have APYs of 4.50% or more, which can make a difference in your interest earnings and help your money keep pace with inflation.
✋ Barrier to access
Many CDs, however, charge an early withdrawal penalty if you take your money out before the term ends. This can help you resist the urge to dip into your funds before you need them.
A high-yield savings account might be a better fit if…
CDs have plenty of perks, but they're not always the right fit for your needs. A high-yield savings account might be a better choice if:
🏧 You want ready access to your funds
You'll pay a penalty if you take money out of a CD before it matures. You can withdraw cash from a savings account at any time, free of charge (as long as you mind any monthly withdrawal limits). This makes HYSAs a great fit for an emergency fund.
🫰 You don't have a ton of money to deposit
Some CDs require a minimum deposit to open an account, typically $500 to $1,000. If you can't find an account with an attractive APY for the amount you want to deposit, try looking into a high-yield savings account with a low or no minimum deposit.
💵 You want to add funds over time
Most CDs only allow a one-time deposit. If you'd like to continue adding money to your savings after you've opened the account, consider a high-yield savings account.
💰You can earn up to 5% APY on today's best high-yield savings accounts. Check out top savings rates now.
Methodology
CNET reviews CD rates based on the latest APY information from issuer websites. We evaluated CD rates from more than 50 banks, credit unions and financial companies. We evaluate CDs based on APYs, product offerings, accessibility and customer service.
The current banks included in CNET's weekly CD averages include Alliant Credit Union, Ally Bank, America First Federal Credit Union, American Express National Bank, Barclays, Bask Bank, BMO Alto, Bread Savings, Capital One, CFG Bank, CIT, CommunityWide Federal Credit Union, Discover, EverBank, First Internet Bank of Indiana, First National Bank of America, Forbright, LendingClub, Limelight Bank, Marcus by Goldman Sachs, MYSB Direct, NexBank, Quontic, Rising Bank and Synchrony.
*APYs as of May 2, 2025, based on the banks we track at CNET. Earnings are based on APYs and assume interest is compounded annually.
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Best Minimalist Wallet for 2025 Tested By CNET Experts
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Best minimalist wallet of 2025 Sarah Tew/CNET Photo Gallery 1/1 Sarah Tew/CNET Best overall minimalist wallet Ridge Wallet Pros Made from titanium Keeps your cards tight and safe Adjustable design Cons Can be pricey for the best version Of all the rugged, minimalist wallets I tested, I found the Ridge to be the most flexible, ironic for a wallet made of titanium (or aerospace-grade aluminum if you pick a different color). The sandwich design of the Ridge wallet securely accommodates one card as easily as it can 12, and the durable but pliable money clip holds one bill as tightly as a bigger wad. The cutout provides quick access to all of your cards, and the tough elastic strap that holds everything together inspires confidence. This wallet is almost comically overdesigned, and you can use the included screwdriver to disassemble the pieces, remove the money clip and bring the money strap to the exterior. Ridge makes this wallet in China but backs it with a lifetime guarantee against manufacturing defects, which seems about right for the price. This burnt titanium Ridge wallet is probably my favorite color, although it's a little pricier than some of the other color variants, which start at $95. ... Show more Get it now $95 at Amazon Ekster Photo Gallery 1/1 Ekster Best mechanical minimalist wallet Ekster Cardholder Pros Elegant design Great mechanism Low profile Cons Some scratches already The Ekster's mechanics, along with its slim profile and lightweight materials, make it an elegant solution. The button used to raise the cards is really well done, with a hefty feel of a mechanism that will last as long as the wallet. The money belt is tight, keeping his small cash pile safe, and the wallet is plenty big enough for a few cards and Ekster's neat little Finder Card, so I could track it if the wallet did get lost. The finder card and its Android counterpart are so good that I recommend adding them to your wallet purchase. There's even a discount if you buy them together. I gave it to my son to use at his prom, and it perfectly matched his maroon prom outfit though I have already noticed some wear in the paint, which is not ideal. If you keep it away from your keys, you should be OK, but the paint should last longer, even in a back pocket. ... Show more Get it now $89 at Amazon Photo Gallery 1/1 Best minimalist wallet with Apple Find My built in Groove Life Trace Pros Great mechanical action Apple Find My built-in Cons No Android tracking Groove Life already makes excellent mechanical wallets, but the Trace takes that a step further by adding a long-lasting, built-in battery that powers an Apple Find My tracker. It's surprisingly helpful for someone like me who constantly takes his wallet out of his pocket and leaves it in his office, car, bedside table or [insert anywhere he sits down here]. If you are looking for a wallet with extra smarts and you are using an iPhone, iPad or Mac, then this is the wallet for you. If you are using Android then the standard Groove Life wallet is a good choice, too. ... Show more Get it now $100 at Amazon Photo Gallery 1/1 Best luxury minimalist wallet Bosca real leather bi fold Pros Beautiful craftsmanship Very strong magnetic cash clip Cons No clear ID space Luxury wallets can be expensive, but with that money, you hope for a level up in quality, too. That's what you get with the Bosca bi-fold minimalist wallet. The leather is of excellent quality, and the stitching and finish are fantastic. I've been carrying it around for months now, and it's only getting better looking the more I use it. The slight blemishes in the leather that it has picked up and the shinyness from being polished in my pocket only highlight the beauty of it, and that's rare. This particular one comes with an extremely strong magnetic money clip on the outside. It can handle 25 banknotes as easily as it can handle one, and it never feels like the money will slip out. I wish it had a window slot for my ID, but apart from that tiny issue, this is the wallet I love to use when I'm out for dinner with my wife or just looking to add a touch of class to my outfit. ... Show more Get it now $110 at Amazon James Bricknell / CNET Photo Gallery 1/1 James Bricknell / CNET Best American-made minimalist wallet Groove Life Pros Made in the US Mechanical slide action Really tough Cons Only fits around 5 or 6 cards Employing "more than 200 people in Tennessee," Groove Life has created a precision-made wallet with a balanced weight that feels great in your pocket. Designed for five cards to fan easily, I found it could fit four credit cards and two insurance cards nicely, with an ID in the front leather sleeve. The mechanism for releasing the cards is really nice, too. The entire front of the wallet slides up to help fan the cards out with a spring-loaded action that is satisfyingly mechanical. Like all metal wallets, the Groove wallet is RFID blocking, so you can have some peace of mind on that score. It's rugged too, so dropping it doesn't pop your cards out; at least it hasn't yet. ... Show more Get it now $75 at Amazon James Bricknell / CNET Photo Gallery 1/1 James Bricknell / CNET Best Magsafe minimalist wallet Bluebonnet Magsafe Pros Incredibly strong magnet Quality leather wallet Very low profile against the phone Cons Pricey for a two-card wallet I always thought that having your wallet and phone together was risky, but I am far more likely to lose my wallet in a back pocket than I am to lose my phone in my hand. The Bluebonnet Magsafe wallet holds only one or two cards, but it sticks to the back of the iPhone so well you would think it was part of the case. The leather is premium, and the blue band that acts as a money clip is tight enough to use as a phone grip, too. ... Show more Get it now $60 at Bluebonnet James Bricknell / CNET Photo Gallery 1/1 James Bricknell / CNET Best branded minimalist wallet Ridge NFL wallet Pros Same Ridge quality Sturdy elastic Repping your favorite team Cons The artwork could be more dynamic The Ridge wallets are fantastic, and while the titanium series can be a little pricey, these NFL-branded ones feel well-priced for what you get. The solid aluminum constructed feels good in your hand and the powder-coated surface adds to that premium feel. If you love your football team and you want a way to show it stylishly and ruggedly, go for an NFL Ridge. You also get a spare elastic and a money clip in the presentation box, making it the perfect gift for the football fan in your life. If I had one complaint it would be the lack of dynamic artwork, but if all you want is to show your team colors and logo, they work for that. ... Show more Get it now $99 at Amazon $99 at Ridge Other minimalist wallets we've tested Not all of the minimalist wallets we've tested get to be called the best. Some of them are OK. Some of them are really not OK. Here are some of the wallets that did OK at testing but didn't quite make the cut. Discommon Goods Photo Gallery 1/1 Discommon Goods Discommon Wallet 3.0 I really like the aesthetic of the Discommon Wallet 3.0. The vacuum-formed shape and little hints of color look good and can hold six cards comfortably. It's also very well made and feels like it would stand the test of time. What keeps it out of our best choices is the clamshell. No matter how hard I try, the wallet doesn't stay closed enough to be entirely safe. I wish that there was a small magnet near the front to hold the edges closed so that it didn't open by itself. ... Show more Get it now $110 at Discommon Goods Sarah Tew/CNET Photo Gallery 1/1 Sarah Tew/CNET Vaultskin Notting Hill Vaultskin's tasteful Notting Hill wallet manages to cram a lot into a small package. The defining feature here is the zipper. For some, it will be a deal-breaker — for its bulk, or whatever it connotes, style-wise — while others will find the security of a zippered compartment appealing for containing their credit and debit cards and money. If you're pro-zipper, there's much to like. The exterior features three slots that can accommodate cards or money. A fourth hidden slot can store two or three more cards, which you can eject out the top using the genuine leather pull tab. The inside has two pouches, one of which snaps down, and a strap that can stow several more cards. There's also a small key hook. Although it says "London" on the packaging, this wallet is made in China. ... Show more Get it now $57 at Amazon $57 at Walmart Sarah Tew/CNET Photo Gallery 1/1 Sarah Tew/CNET Trayvax's Armored Summit Wallet Trayvax's Armored Summit Wallet delivers an appealing combination of ruggedness and extra features at a reasonable price. It can hold up to seven cards and five bills, and like the Dango, it's built from sturdy materials — steel and melonite in this case — in the US. Also like the Dango, it has an integrated bottle opener. Still, Trayvax's buckling strap is a deal killer for me. It's nylon, not elastic, and I found it quite difficult to adjust when I needed to remove a few cards or make more room for additional money. ... Show more Get it now $45 at Amazon Sarah Tew/CNET Photo Gallery 1/1 Sarah Tew/CNET Thread Wallets Elastic The Thread Wallets Elastic resembles a fancy Ace bandage or compression sleeve. It's made of a stretchy material, and can easily hold 10 cards and some money. It also has a small key ring. 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Do you only need two to five cards? then a no-folding wallet, or possibly a mechanical opening wallet could be a good choice. If you need more than that then a bifold or even trifold wallet may be your only option. Most minimalist wallets these days come with RFID blocking as standard, so it's more than likely you will have that. Double check on the listing to make sure, if it's important to you, but know most do come with it. That's also true for some kind of money clip or elastic strap to hold a small amount of cash. If you are looking to take a large amount of paper money with you, a minimalist wallet may not be for you. The size of the wallet will also dictate the materials used. A mechanical wallet will be made of a metal of some kind, while other minimalist wallets will be made of leather or a vegan leather substitute. Deciding on the material and the number of cards you want to carry will likely give you the best indication of the type of wallet you'll want to buy. 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These services offer better download speeds than satellite and much more affordable rates. (Unlike satellite services, there are no equipment rental or purchase fees to add to your monthly costs.) Slow internet? We've got tips to speed it up Slow internet? We've got tips to speed it up Click to unmute Video Player is loading. Play Video Pause Skip Backward Skip Forward Next playlist item Unmute Current Time 0:31 / Duration 1:32 Loaded : 100.00% 0:31 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 1:01 Share Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. 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Ask for what you want before you give up You've researched, collected your facts and jotted down your goals for the call. Preparation is the key to success, but now it's time to seal the deal. To get the best deal for your budget, you need to call and ask for what you want. "Any customer has the right to seek changes to their plan if they choose to do so," the AT&T spokesperson said. "There's not really a specific time of year for deals, but customers should check ISPs' websites regularly for any new updates or offers they can take advantage of." Goad offered that moving season from May to October is a prime time to find offers, incentives and promotions. That said, it's also a time when your customer experience might not be as good as if you called during a different time. "If you think about it, if you're going to shop on Black Friday, it's a different experience than if you shop on March 12," Goad said. "So maybe you do your research in the first and second quarter of the year and do your buying in the third quarter when you're fully prepared." If you decide to make your move during the busy season, strongly consider not calling during the busiest time of the day: the lunch hour. Whenever you choose to leap, it's worth repeating: always be courteous. That is foundational to having a good call. Try to be friendly, speak of your length of time with the provider, and highlight your excellent payment history. 5. If at first you don't succeed, try again Here's another tip from my wife: If she gets an agent who doesn't seem willing to work with her or share the same courteous approach, she'll politely end the conversation and try again. If you forget the first four steps, don't get what you need and the conversation goes south, you can try again with a new customer service rep. One colleague I spoke with echoed this advice and shared a story about her customer experience. She was so frustrated with her bill increases that she decided to get on the phone and threatened to cancel. Her hope was the provider would beg her to stay and offer a new promotion. Instead, the provider canceled her service. She sheepishly called back later and spoke with a different representative. Figuring honesty was the best policy, she shared her story and ended up with a new deal and the advice to call and just ask next time. Be prepared that it might not go your way the first time, but don't give up. You might need to call a few times to find an agent willing to work with you or find the right promotions to suit your goals. If it means a lower bill or a better plan, it's well worth the effort.
