Top CD Rates Today: January 23, 2025 | 4 terms still earn 4.40% APY or greater
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Key takeaways
- The highest CD rate across terms is 4.51 percent APY, offered for a six-month CD.
- When shopping around, you can sometimes find rates three times the national averages.
- Opening a fixed-rate CD now can help you lock in a relatively high yield before APYs potentially drop further.
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 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 standard 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 top annual percentage yield (APY) across CD terms is 4.51 percent, with similar APYs offered on terms of three and nine months, as well as one year. Slightly lower APYs of 4.15 percent to 4.25 percent can be found on term lengths between 18 months and five years.
Check out Bankrate’s table below for the highest APY on CD terms from three months to five years, as well as how much $5,000 would earn for each term.
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 | Quontic Bank | 4.50% | 1.25% | $55 |
| 6-month | CIBC Bank USA | 4.51% | 1.66% | $112 |
| 9-month | America First Credit Union | 4.40% | N/A | $164 |
| 1-year | Live Oak Bank | 4.40% | 1.73% | $220 |
| 18-month | TAB Bank | 4.16% | 1.82% | $315 |
| 2-year | America First Credit Union | 4.15% | 1.50% | $424 |
| 3-year | America First Credit Union | 4.15% | 1.41% | $649 |
| 4-year | America First Credit Union | 4.20% | 1.47% | $894 |
| 5-year | America First Credit Union | 4.25% | 1.41% | $1,157 |
Note: Annual percentage yields (APYs) shown are as of January 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 much $10,000 could earn you in a one-year CD
If you’re comfortable locking $10,000 into a one-year CD right now, and the CD earns 4.40 percent APY, it would earn around $440 in interest by the time it matures. Bankrate’s CD calculator can help you determine how much a CD will be worth at the end of its term. Just input the CD’s APY, the term length and the amount of your opening deposit.
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 4.40 percent on Jan. 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.