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All CDs are not created equal.
Deagreez/Getty ImagesIf you're thinking of opening a certificate of deposit, it pays to shop around. Big banks aren't the only places that offer great rates -- you can often find top APYs by expanding your search to online banks and credit unions.
Right now, the highest APY for CDs we track at CNET is 4.40%, and it's offered by CommunityWide Federal Credit Union's one-year CD. To give you an idea of how much that can net you, here's a look at your interest earnings if you deposit different amounts into this account.
Read more: Best CD Rates for May 2025: Boost Your Savings With APYs as High as 4.50%
How much you could earn with CommunityWide Federal Credit Union's 1-year CD
Your returns will vary based on how much you put into this CD. The minimum deposit CommunityWide Federal Credit Union requires is $1,000, so here's how much you could earn with that and some other amounts.
| Amount deposited | APY | Interest earned | Balance at maturity |
| $1,000 | 4.40% | $44.00 | $1,044.00 |
| $2,000 | 4.40% | $88.00 | $2,088.00 |
| $5,000 | 4.40% | $220.00 | $5,220.00 |
| $10,000 | 4.40% | $440.00 | $10,440.00 |
APYs as of May 23, 2025, based on the banks we track at CNET. Earnings are based on APYs and assume interest is compounded annually.
Other CD terms
CommunityWide Federal Credit Union offers seven different CD terms, ranging from six months to five years, and they all offer competitive APYs. Here's how much you could earn in each if you deposit $2,000:
| APY | Interest earned on a $2,000 deposit | Balance at maturity |
| 4.20% | $127.31 | $2,127.31 |
| 4.00% | $163.20 | $2,163.20 |
| 3.80% | $236.77 | $2,236.77 |
| 3.60% | $303.93 | $2,303.93 |
| 3.40% | $363.92 | $2,363.92 |
APYs as of May 23, 2025, based on the banks we track at CNET. Earnings are based on APYs and assume interest is compounded annually.
Earnings with other high-interest CDs
CommunityWide Federal Credit Union may be the top CD on our list, but plenty of other banks and credit unions offer competitive rates, and you may find they're a better fit for your needs. Here are some other accounts worth considering and where you'll find them.
| Bank | APY | Interest earned on a $2,000 deposit | Balance at maturity |
| NexBank | 4.35% | $87.00 | $2,087.00 |
| Limelight Bank | 4.30% | $86.00 | $2,086.00 |
| CFG Bank | 4.15% | $83.00 | $2,083.00 |
| Capital One | 4.00% | $80.00 | $2,080.00 |
APYs as of May 23, 2025, based on the banks we track at CNET. Earnings are based on APYs and assume interest is compounded annually.
How to choose the right CD for you
APY isn't the only thing you should think about when comparing CDs. To find the best account for you, you should also consider:
- When you'll need the money: To get the highest return, you must keep your money in a CD for the entire term. If you take it out before the CD matures, you'll pay an early withdrawal penalty that will chip away at your earnings. So, look for a bank with CD terms that fit your savings timeline.
- How much you have to deposit: Some banks have no minimum deposit requirements for their CDs, while others require anywhere from $500 to $1,000. If an account asks for more than you have to deposit, it's off your list of options.
- Fees: Read the fine print to see if you'll incur any charges like monthly maintenance fees. Many online banks offer fee-free CDs, but if you decide to go with a bank that charges fees, make sure you know what they are so you aren't surprised.
- Federal deposit insurance: Look for an FDIC-insured bank or NCUA-insured credit union. CDs at these accounts are protected for up to $250,000 per person, per account category, so your money will be safe if the institution fails.
