Is There Still Such a Thing as a 5% CD?

Photo courtesy of Karen Bennett; Illustration by Hunter Newton/Bankrate

Currently, you can lock in annual percentage yields (APYs) on certificates of deposit (CDs) at and slightly above 4% with many nationally available CDs. Only a select few financial institutions offer promotional CDs that earn a 5% APY or greater, and most are closed-membership credit unions.

As a reporter who tracks CD rates daily, I take notice anytime I see such higher-than-normal rates — several of which I’ve listed. The big caveat is both these CDs carry significant restrictions. As such, I’ve also provided a list further below of widely available CDs with the highest rates.

Where to find CDs that earn 5% APY (or higher)

The following financial institutions currently offer CDs that earn a 5% APY or higher — for at least a portion of their terms — as of Dec. 15, 2025. It’s important to note that not every account is available to everyone due to restrictions.

What’s more, rates on new CDs can change at any time, at the discretion of the financial institutions offering them. However, locking in a yield today on a fixed-rate CD means you’ll earn that guaranteed APY for its entire term.

California Coast Credit Union

• Rate: 5.00% APY
• CD Term: 5 months
• Minimum deposit: $500
• Maximum deposit: $5,000
• Details: Called a Take 5 Certificate, this CD is only available to new members. It requires new money, and you must have an active checking account with e-statements or a different deposit account with California Coast Credit Union that has at least $5,000 or a qualifying newly funded loan.
• Restrictions: Membership in the credit union is limited to those who live or work in select areas of California. The maximum opening deposit is $5,000, with one CD allowed per person.

Financial Partners Credit Union

• Rate: 6.00% APY
• Term: 8 months
• Minimum deposit: $1,000
• Maximum deposit: $5,000
• Details: The eight-month certificate is available for new members and can be opened online and at Financial Partners Credit Union branches.
• Restrictions: This CD is only available in select cities and counties of California. Deposits are limited to $5,000.

Financial institutions Bankrate monitors

While both CDs listed are offered from federally insured deposit institutions, neither are from banks or credit unions Bankrate regularly monitors. Because none of our monitored institutions offer CDs with APYs of 5% or higher, I searched outside our official list for purposes of this article.

The editorial lists on Bankrate’s pages, such as best CD rates and best high-yield savings accounts, consist of widely available, federally insured banks and credit unions. The listings there are chosen based on popularity, APYs and Bankrate’s review score, which is calculated using a thorough methodology that goes beyond the basics.

Best nationally available CD rates

Check Bankrate’s best lists for various CD terms to find the one that best suits your financial needs. Because most CDs impose early withdrawal penalties, it’s important only to devote money you won’t need in the meantime for emergencies or living expenses.

Where CD rates are headed in 2026

APYs on competitive CDs tend to go up when the Federal Reserve raises interest rates, and these APYs tend to go down when the Fed lowers rates. The Fed cut rates three times in late 2024, and many banks also lowered APYs, both leading up to the Fed rate cuts and after. Despite this, yields on many CDs and high-yield savings accounts continue to outpace inflation. This means your money in such an account isn’t losing purchasing power at this time.

Some market watchers expect the Fed will cut interest rates later this year, which could trigger banks to lower their CD rates.

Securing a high APY now on a fixed-yield CD ensures you’ll benefit from that high rate for the entire term, even if going rates on new CDs start to fall.

Bottom line

APYs on competitive CDs tend to go up when the Federal Reserve raises interest rates, and these APYs tend to go down when the Fed lowers rates. From September 2024 to December 2025, the Fed cut rates a total of six times. Many banks also lowered APYs, both leading up to the Fed rate cuts and after. 

Despite this, yields on many CDs and high-yield savings accounts continue to outpace inflation. This means your money in such an account isn’t losing purchasing power at this time. Securing a high APY now on a fixed-yield CD ensures you’ll benefit from that high rate for the entire term, even if going rates on new CDs start to fall.