Top CD rates today: April 10, 2025 | Take advantage of rates up to 4.50% APY
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Key takeaways
- The highest CD rate across terms is 4.50 percent APY, offered on a three- and a six-month term.
- Competitive APYs for some terms are currently several times greater than national averages.
- In 2025 and beyond, APY levels on competitive CDs will likely move in lockstep with any changes the Federal Reserve makes to the federal funds rate.
Although inflation cooled from 2.8 percent in February to 2.4 percent in March, stock market fluctuations are pushing some savers to consider investing in a certificate of deposit (CD). So far this year, CD yields have maintained a steady pace.
The last rate change among banks Bankrate monitors took place on March 13 after Bask Bank lowered the annual percentage yield (APY) on its nine-month CD from 4.50 percent to 4.40 percent APY. The next Federal Reserve meeting scheduled for May 7 will reveal which direction rates are headed. Online banks and credit unions remain competitive, providing top rates above 4 percent APY.
Today's leading APY across CD terms remains 4.50 percent. This yield is offered on a three-month CD term from Bask Bank and a six-month CD term from Bread Savings. Bask requires a minimum deposit of $1,000, and Bread Savings requires $1,500.
Bankrate monitors CD rates every weekday, and today’s top rates are listed in the table below, along with national average rates and the amount you’ll earn with $5,000 in a high-yield CD.
Today's CD rates by term
| CD term | Institution offering top APY | Highest APY | National average APY | Estimated earnings on $5,000 with top APY |
|---|---|---|---|---|
| 3-month | Bask Bank | 4.50% | 1.32% | $55 |
| 6-month | Bread Savings | 4.50% | 1.82% | $111 |
| 9-month | Bask Bank | 4.40% | N/A | $164 |
| 1-year | Bask Bank | 4.40% | 1.89% | $220 |
| 18-month | TAB Bank | 4.16% | 2.15% | $315 |
| 2-year | Popular Direct | 4.15% | 1.65% | $424 |
| 3-year | America First Credit Union | 4.15% | 1.56% | $649 |
| 4-year | America First Credit Union | 4.20% | 1.72% | $894 |
| 5-year | SchoolsFirst Federal Credit Union | 4.25% | 1.57% | $1,157 |
Note: Annual percentage yields (APYs) shown are as of April 10, 2025. APYs for some products may vary by region.
N/A: Not available; Bankrate doesn’t track national averages for the 9-month CD term due to limited available data. Estimated earnings are based on the highest APYs and assume interest is compounded annually.
When is a CD a good idea?
You might decide to open a CD when rates are likely to start falling on deposit accounts. Thanks to its fixed interest rate, a competitive CD will continue to earn its high yield for the full term, even in a falling rate environment. Another benefit of the guaranteed rate is you’ll be able to calculate in advance how much interest the CD will earn through the end of the term.
A CD may be a good idea if you have a sum of money you do not need access to for a specific amount of time. For example, if you're saving to buy a home in 2026, a one-year CD would mature in February of next year. For emergency funds and other savings you might need access to at any time, a high-yield savings account may be a better fit.
Recent trends in top CD rates
Competitive CD APYs trended downward throughout 2024 and are relatively stable so far in 2025. For example, the highest one-year CD APY at the start of January 2024 was 5.66 percent, whereas it was 4.40 percent on April 10, 2025. Among the popular terms Bankrate monitors for this page, all rates saw steeper declines in the second half of 2024, as compared to the first half.
CD glossary
Here are some terms you’ll likely come across when choosing a CD.
- Add-on CD: An add-on CD enables you to make additional deposits after your initial investment. This feature affords more flexibility than traditional CDs, which only allow one deposit at the beginning of the term.
- Annual percentage yield (APY): A percentage that indicates how much interest a CD earns in one year, which takes into account the effect of compounding.
- Brokered CD: A type of CD issued by a bank but sold through a brokerage firm or other financial institution.
- CD ladder: An investment strategy that involves purchasing multiple CDs with varying maturity dates to provide liquidity and take advantage of higher rates.
- Early withdrawal penalty: A fee charged if funds are withdrawn from a CD before the maturity date. Penalties often range anywhere from 90 days to 365 days’ worth of interest.
- Grace period: A specific time after the maturity date during which an account holder can make changes to the CD without penalties. A grace period typically ranges from five to 14 days.
- IRA CD: A CD that’s held within an individual retirement account.
- Minimum opening deposit: The lowest amount of money required to open a CD account, which can vary by institution. Some institutions don’t have a minimum deposit requirement.
- No-penalty CD: A type of CD that allows you to withdraw your money without facing a penalty while providing a fixed APY.
- Promotional CD: Also known as a bonus or special CD, it’s a CD with an above average APY. These may be offered by banks and credit unions as a way to obtain new customers.
- Jumbo CD: A CD that has a high minimum balance requirement, typically $100,000, sometimes as low as $95,000. This type of CD can potentially offer a higher interest rate than regular CDs with the same term.
- Bump-up CD: Also known as a “raise-your-rate CD,” a bump-up CD provides savers with the option to increase the CD’s APY without having to change its term. Generally, only one rate increase is allowed during its term.