Forget the Fed: These 5 CDs Still Look Great After Recent Rate Cuts

It was a surprise, kind of. The Federal Reserve, after holding the federal funds rate steady for over a year, announced a cut by 50 basis points (0.50%) on Sept. 18. Although pretty much everyone was expecting a cut, few were expecting the Fed to cut the rate by that much. Rates on savings accounts and CDs have begun the downward plunge we've been predicting -- just a bit more dramatically than what we were initially expecting.

That said, the Federal Reserve hasn't killed the CD just yet. In fact, several banks are still offering rates that you likely won't find on CD products in 2025. With that in mind, here are five great CDs that are still worth going after.

1. Connexus Credit Union (up to 4.75% APY)

Connexus Credit Union recently had a 10-month special share certificate with a 5.15% to 5.25% APY. Although that CD is now gone, you can still snag a 4.65% APY on a 15-month share certificate with a $5,000 deposit. If you have $100,000 to deposit, you could even get up to 4.75% APY on the same term.

You also need to become a member of Connexus Credit Union to be eligible (a $5 donation to the Connexus Association allows anyone to join).

Our Picks for the Best High-Yield Savings Accounts of 2024

Product	APY	Min. to Earn
American Express® High Yield Savings Member FDIC. APY 3.80% Rate info 3.80% annual percentage yield as of December 28, 2024. Terms apply. Min. to earn $0 Open Account for American Express® High Yield Savings On American Express's Secure Website. Member FDIC.	3.80% Rate info 3.80% annual percentage yield as of December 28, 2024. Terms apply.	$0	Open Account for American Express® High Yield Savings On American Express's Secure Website.
Capital One 360 Performance Savings Member FDIC. APY 3.80% Rate info See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening. Min. to earn $0 Open Account for Capital One 360 Performance Savings On Capital One's Secure Website. Member FDIC.	3.80% Rate info See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.	$0	Open Account for Capital One 360 Performance Savings On Capital One's Secure Website.
Western Alliance Bank High-Yield Savings Premier Member FDIC. APY 4.46% Rate info The annual percentage yield (APY) is accurate as of November 7, 2024 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY. Min. to earn $500 to open, $0.01 for max APY Open Account for Western Alliance Bank High-Yield Savings Premier On Western Alliance Bank's Secure Website. Member FDIC.	4.46% Rate info The annual percentage yield (APY) is accurate as of November 7, 2024 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.	$500 to open, $0.01 for max APY	Open Account for Western Alliance Bank High-Yield Savings Premier On Western Alliance Bank's Secure Website.

2. LendingClub (up to 4.00% APY)

LendingClub is another bank whose CD rates are holding strong under the downward pressure of widespread rate cuts. Right now, the bank has two excellent CD terms. Its highest APY is 4.00% on a 6-month term. You can also get a 4.25% APY on a 10-month term.

Both require a minimum deposit of $2,500 to open an account.

3. Bread Financial (up to 4.30% APY)

Bread Financial currently offers one of the highest APYs for a 1-year CD. With a low minimum opening deposit of $1,500, you can get a 4.30% APY on this term.

What's more, you can also get a 4.95% APY if you choose to automatically renew your CD with Bread Financial at the end of its term. That gives you an effective rate of about 4.92% APY on a 2-year CD, the leading rate for that specific term length among CDs that we cover.

4. Prime Alliance Bank (up to 4.65% APY)

Although Prime Alliance Bank isn't a big national bank, its CD terms are leading other institutions in APY. This bank offers a 6-month CD with a 4.65% APY and a low minimum deposit of $500. It also has a competitive 12-month CD (4.50%) and a compelling 18-month CD (4.15%).

5. Quontic (up to 4.95% APY)

Another favorite name in the CD space, Quontic has several terms that might interest you. Its leading rate is 4.95% APY on a 3-month CD. It also has a 6-month CD with a 4.25% APY and a 12-month CD with 4.00% APY. All CD terms require a low $500 minimum opening deposit.

All in all, folks, this could be your last chance to lock into a good rate before rates really start to sink. Although that doesn't mean you have to get a CD -- keep in mind they do have early withdrawal penalties if you need access to your money before the term ends -- it should apply some pressure if you've been considering one but haven't jumped off the fence. Take a look at these CDs in particular and check out our best-of page for other terms and APYs.