Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances.

Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances.

The Federal Reserve maintained interest rates last month. CD rates are influenced by the Fed's decision. Since the Fed didn't cut rates, it's likely CD rates will hold steady in February.

We monitor and report on the best no-penalty CD rates currently available from nationwide financial institutions. No-penalty CDs aren't very common, so you only have a few strong banks to choose from.