You can find CDs with rates up to 4.65% today. Short-term CDs — those maturing in a year or less — often have the highest APYs.
The Fed is holding rates steady for now, but cuts might come in the second half of this year. So, it’s smart to lock in those high rates now.
Check out today’s top CD rates below.
|
Bank |
APY |
Term |
Minimum Deposit |
|---|---|---|---|
|
OMB |
4.65% |
7 Months |
$1,000 |
|
United Fidelity Bank |
4.60% |
10 Months |
$1,000 |
|
Brilliant Bank |
4.55% |
9 Months |
$1,000 |
|
Marcus by Goldman Sachs |
4.50% |
14 Months |
$500 |
|
LendingClub |
4.50% |
10 Months |
$2,500 |
Data source: Issuing banks. Rates are accurate as of April 4, 2025.
Want to find the best CD for your timeline and goals? Explore top rates by term:
Should you open a CD now?
In mid-2024, CD rates started to drop as the Fed cut rates for the first time in four years. Despite this dip, CDs remain a solid option. The Fed is keeping rates steady at this time, but further cuts may come later in 2025.
Here’s why CDs are worth a look:
- Offers steady and safe returns on your investment
- Backed by FDIC insurance up to $250,000 per depositor, per bank
- Protects against future drops in rates for the duration of the CD term
While CDs provide stable, low-risk returns, the stock market can offer higher gains, but with added risk.
How to open a CD
When you’re ready, you can open a CD in just a few simple steps:
- Shop around to find the highest APY for the term you want.
- Read the fine print and make sure you can meet the minimum deposit, if there is one.
- Apply for a new account on the bank’s website or mobile app, or over the phone. You’ll likely be approved and ready to invest in minutes.
- Link an existing bank account to transfer funds to a new CD. Remember that you can only make one deposit per CD.
Click here to explore the best CD rates and open a high-yield CD today.
Once you’ve opened your CD, keep an eye on its maturity date. When a CD matures, the bank will typically do one of two things unless you say otherwise:
- Pay out your initial deposit plus your earnings as cash
- Reinvest your funds in a new CD with the same term (but potentially a different APY)
Most banks give you a grace period of seven to 10 days after the CD’s maturity date to make a decision.
Earn up to 4.10% APY without locking up your money
Try a high-yield savings account for a high APY that provides more freedom and better access. The best ones offer you:
- Freedom to deposit and withdraw at any time
- Fast transfers to other accounts
Right now, high-yield savings accounts have APYs that rival top CDs. Though rates can change, these accounts are a great option today. Depending on your goals, either savings or CDs could work well for you.