Top CD rates today: April 23, 2025 | Take advantage of APYs as high as 4.50%
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Key takeaways
- Today's leading CD rate across terms is 4.50 percent APY, offered for a six-month term.
- The best rates on various terms are around double the national average yields, so it pays to shop around.
- After cutting its benchmark federal funds rate three times in 2024, the Federal Reserve has left the rate untouched in 2025. CD APYs declined in response to the Fed's cuts, yet they remain historically high.
Like a savings account, a certificate of deposit (CD) is an account where you can stash some of your savings, usually risk free, and earn a nominal amount of interest. A CD differs in that it offers a fixed interest rate for the duration of its term. If you enroll in a CD at a time before interest rates fall, your CD’s rate remains the same for its term. What’s more, a CD rate can be higher than the rate on a high-yield savings account, although a CD usually requires that you commit your cash for the entire term, with early withdrawals resulting in a penalty.
Currently, the highest annual percentage yield (APY) you’ll find on popular CD terms is 4.50 percent, which can be found on a term of six months. Slightly lower APYs of up to 4.25 percent can be found on terms between one year and five years.
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 $10,000 in a high-yield CD.
Today's CD rates by term
| Term | Institution | Highest APY | National average APY | Minimum deposit | Estimated earnings on $10,000 |
|---|---|---|---|---|---|
| 3-month | Popular Direct | 4.40% | 1.42% | $10,000 | $108 |
| 6-month | Bread Savings | 4.50% | 1.91% | $1,500 | $223 |
| 9-month | CIBC Bank USA | 4.31% | N/A | $1,000 | $322 |
| 1-year | Marcus by Goldman Sachs | 4.25% | 2.02% | $500 | $425 |
| 18-month | TAB Bank | 4.16% | 2.25% | $1,000 | $630 |
| 2-year | SchoolsFirst Federal Credit Union | 4.15% | 1.77% | $500 | $847 |
| 3-year | America First Credit Union | 4.15% | 1.69% | $500 | $1,297 |
| 4-year | America First Credit Union | 4.20% | 1.81% | $500 | $1,789 |
| 5-year | Synchrony Bank | 4.15% | 1.69% | $0 | $2,255 |
Note: Annual percentage yields (APYs) shown are as of April 23, 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.
How to open a CD account today
Once you’ve found the bank or credit union where you want to open your CD, you are ready to submit your application. Typically, you can do this online by navigating to the CD page and clicking on “Open a CD” or “Get Started”. Some institutions may require you to open a CD in a branch. Note that at credit unions, CDs are often referred to as share certificates.
You will need to enter personal information as you do when opening any bank account, including your name, Social Security number and contact information. You may also need a driver’s license or other identification for verification.
Once your account is open, it’s time to fund your account with at least the minimum balance required. You’ll also choose how to receive your interest disbursements – either reinvest the interest in your CD over time to take advantage of compound growth or receive interest payments directly.
Learn more: How to open a CD
Recent trends in top CD rates
Competitive CD APYs trended downward throughout 2024 and are decreasing 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 4.25 percent on April 23, 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 tends to 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.