11 best CD rates of July 2024 (up to 5.30% APY)

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC Select will update as changes are made public.CDs are a type of savings account where you earn a fixed rate of interest over a fixed period, also known as a CD term. You can't access your funds until the CD term ends. If you need more of an incentive not to touch your savings, a CD can be a smart move. At the end of the term, you receive your original deposit plus the accrued interest you earned.To determine the top CDs, CNBC Selectranked those that offer above-average APYs and a range of CD terms; some banks even offer different CD types, like a CD where you can raise your APY or a CD where you can withdraw penalty-free. All banks on this list areFDIC- or NCUA-insured. (Seeour methodologyfor more information on how we choose the best CD accounts.)Best CD rates of July 2024Alliant Credit Union: Earn up to 5.20% APYAlly Bank®: Earn up to...