If you're sitting on extra savings and not loving your current interest rate, it might be time to give Western Alliance Bank CDs a serious look.

Through the Raisin platform, Western Alliance is offering short-term CDs with high yields, low commitment, and a refreshingly low $1 minimum to get started. That combo is rare -- and it's exactly what makes these CDs worth considering right now.

Here's why they're catching my attention in July 2025.

1. You don't need a ton of cash to lock in a strong rate

Most CDs require a few hundred (or a few thousand) dollars to open. But with Western Alliance Bank CDs, you can get started with just $1 through Raisin. That's not a typo -- one dollar.

That low minimum is one of the most accessible I've seen, and it makes it easier to earn more interest, even if you're working with a smaller savings balance or just want to test the waters.

Even moving part of your cash to a high-yield CD can be a smart way to boost your earnings with zero effort.

2. The rates are competitive -- especially for short terms

The Fed has made it clear that rate cuts are coming, and once they hit, banks will likely start trimming APYs across the board. Locking in a competitive rate now could help you earn more while you still can.

These are the rates and terms currently available for Western Alliance Bank CDs:

These CDs only go out to 12 months, but for short-term savers, that's often the sweet spot. You're not locked in for years, but you're still getting a much better return than most savings accounts offer.

Ready to lock in a rate before they drop? Check out current Western Alliance Bank CD rates here.

3. It's great for savings you don't need right now

Last year, I used a short-term CD to stash away money I knew I'd need later -- specifically, to furnish a home once I bought one. I didn't want that cash tied up in investments, but I also didn't want it just sitting in a standard savings account earning next to nothing.

CDs are perfect for that kind of "in-between" money. You get a guaranteed return, and you're not tempted to dip into it early.

4. It holds up when the market gets shaky

If you're feeling hesitant about where to put your money right now, you're not alone. CDs offer a stable, low-risk option when the market feels a little unpredictable.

Unlike stocks or mutual funds, your return is fixed. And since Western Alliance Bank CDs are FDIC insured up to $250,000, your principal is protected no matter what the market does. That kind of peace of mind can go a long way when you're saving for a specific goal.

A few things to know before you open

• You'll open the CD through Raisin, a secure online platform that partners with FDIC-insured banks.
• There's a 7-day grace period after maturity, but no partial withdrawals during the term.
• If you withdraw early, you'll pay a penalty (90 days of interest), which could cancel out your gains on shorter CDs.

The bottom line

If you want a low-risk, high-yield way to boost your savings, and you don't mind locking your money away for a few months, a Western Alliance Bank CD could be a smart move. Just $1 gets you in, and the rates are among the best for short-term savers in 2025.

Don't wait until rates drop: lock in a safe, fixed-rate CD today and watch your savings work harder without the stress of market ups and downs. Start earning more now with Western Alliance Bank CDs through Raisin.