Top CD rates today: April 8, 2025 | Top APY remains 4.50%
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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.
- You'll find yields above 4 percent on various CD terms.
- The best rates on various terms are more than triple the national average yields, so it pays to shop around.
Overall, certificate of deposit (CD) rates continue to offer competitive yields, with top rates above 4 percent annual percentage yield (APY). While rates dipped slightly toward the end of 2024, many CDs continue to outpace inflation. This investment tool offers an attractive option for savers looking to lock in returns before rates decline.
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.
The table below shows top CD rates for the most common terms, as well as national averages and the amount you can earn in interest with a $5,000 deposit.
Today's best 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% | 1.81% | $111 |
| 9-month | Bask Bank | 4.40% | N/A | $164 |
| 1-year | Bask Bank | 4.40% | 1.88% | $220 |
| 18-month | TAB Bank | 4.16% | 2.15% | $315 |
| 2-year | Popular Direct | 4.15% | 1.64% | $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% | 1.56% | $1,157 |
Note: Annual percentage yields (APYs) shown are as of April 8, 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.
Locking in a CD rate now could benefit you down the line
An upside of putting your funds into a guaranteed-rate CD is you’ll continue to earn the fixed APY for its entire term, even if the bank lowers the yields on new CDs it issues in the meantime. Rates on competitive CDs are currently outpacing inflation, which is currently at a rate of 2.8 percent.
In 2024, the Fed cut its benchmark rate in September, November and December, for a total of a full percentage point, or 100 basis points. In 2025, however, officials have held the federal funds rate at its current target range of 4.25 to 4.5 percent. It remains to be seen whether policymakers will choose to lower rates further in 2025. The next rate-setting meeting is scheduled for May 7, 2025.
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 8, 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.