With rate cuts looming, a short- to mid-term certificate of deposit (CD) is looking smarter by the day.

That's why I've got my eye on LendingClub's 14 Mo. CD, paying a 4.25% APY. In this cooling rate environment, that's a pretty sweet deal I think.

Let's break down why this CD stands out, and how to tell if it fits your money goals.

Why this 14 Mo. CD is such a good deal

A 4.25% APY is a standout rate right now -- especially with the Fed likely to start cutting interest rates later this year.

If you've been scanning the best CDs hoping for something better, this might be your moment. Odds are, CD rates won't climb much higher from here.

LendingClub's 14 Mo. CD comes with:

• 4.25% APY -- fixed for the full term
• Just a $500 minimum deposit
• No monthly fees
• FDIC insurance up to $250,000
• 10-day grace period -- to renew, change terms, or withdraw upon maturity

14 Months strikes a great balance. It means if you take one out today, your money will mature in early fall 2026. So you don't need to worry about any uncertainty with rates for the rest of this year and half of next.

Start saving today. Lock in 4.25% APY with LendingClub's 14 Mo. CD.

When a mid-term CD makes sense

Short-term CDs (like 3- or 6-month terms) often pay the highest rates, but they expire fast. And when they do, renewing could mean settling for less.

On the flipside, long-term CDs offer decent rate security, but they lock up your money for years -- which can feel like overkill.

That's why a 14 Mo. term hits the sweet spot. You get a high yield and more stability than a 6-month option, without committing for the long haul.

A 14 Mo. CD could make sense if:

• You're saving for a short- to medium-term goal (like a house down payment, car, or vacation)
• You want guaranteed returns and don't want to risk the stock market
• You don't need that money for at least a year

Keep in mind, most high-yield savings accounts are barely touching 4.00% APY right now. And those rates can drop anytime. With a CD, your rate is locked in from day one.

Not sure about 14 Months? Try a CD ladder

By the way, you don't need to go all-in on a single CD term. Sometimes it makes sense to spread your money across multiple CDs with different lengths.

It's called CD laddering. This strategy lets you lock in today's best rates, but it also means parts of your cash become available at different times.

Here's how a sample CD ladder might look if you spread $15,000 evenly across three LendingClub CDs, putting $5,000 into each one:

This strategy gives you a mix of early access, solid mid-term yield, and long-term rate protection. It's a great way to hedge your bets without sacrificing returns.

Want to see what other terms are available? LendingClub offers a full range of CDs with competitive rates across the board. Browse all of LendingClub's CD options today and see which one fits your plan best.