Skip to Main Content

Best CD rates of April 2025 (Up to 4.50%)

Written by
Matthew Goldberg
Edited by
Marc Wojno, MBA
Reviewed by
Greg McBride, CFA

Rates updated between April 14 and April 20

At Bankrate we strive to help you make smarter financial decisions. Though our partners compensate us from links on this page, we maintain editorial integrity, and partners don't influence our product evaluations. Here's how we make money and here is our advertiser disclosure.

Opening a certificate of deposit (CD) allows you to lock in an attractive fixed rate and earn higher returns compared to traditional savings accounts, while providing guaranteed growth for a set period of time. Currently, the best CD rates still earn above 4 percent APY. The top rate tracked by Bankrate is offered by a few banks on terms from three to 14 months. Before opening a certificate of deposit, be sure to read expert advice and tips below to ensure a financially safe decision.

Current CD trends

Caret Up Icon Caret Down Icon
Bankrate Partner average
4.04% APY
National average
2.01% APY
Info Icon
CD rates remain high, but are projected to move lower.
The Fed is predicted to continue cutting rates in 2025. Read more from Bankrate's experts in our CD rates forecast.
PERSONALIZE YOUR SEARCH

On This Page

Best CD rates from top banks for April 2025

Note: APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes only FDIC banks or NCUA credit unions in its editorial listings.

Marcus by Goldman Sachs_logo

Marcus by Goldman Sachs

Rating: 4.9 stars out of 5
4.9 Bankrate CD score

  • Annual percentage yield

    3.75% – 4.40%

  • Min. deposit to open

    $500

  • Term

    6 months - 6 years

Why Marcus by Goldman Sachs?

Marcus by Goldman Sachs offers CD terms ranging from six months to six years, and the minimum required opening deposit of $500 is lower than what some other banks charge. The rates are competitive for most terms. In addition to standard CDs, the online-only bank offers no-penalty CDs and a bump-rate CD.

Popular Direct_logo

Popular Direct

Rating: 4 stars out of 5
4.0 Bankrate CD score

  • Annual percentage yield

    3.90% – 4.40%

  • Min. deposit to open

    $10,000

  • Term

    3 months - 5 years

Why Popular Direct?

Popular Direct is an online bank that offers CDs in eight terms, ranging from three months to five years. With a $10,000 minimum deposit to open, these CDs are geared toward serious savers. Popular Direct doesn’t offer specialty CDs, such as bump-up or no-penalty CDs, though it does offer a savings account with a competitive rate.

Synchrony Bank_logo

Synchrony Bank

Rating: 4.9 stars out of 5
4.9 Bankrate CD score

  • Annual percentage yield

    0.25% – 4.35%

  • Min. deposit to open

    $0

  • Term

    3 months - 5 years

Why Synchrony Bank?

Synchrony Bank offers many regular CDs ranging from three months to five years. Synchrony stands out because there is no minimum deposit required to open one of its CDs. If you're interested in specialty CDs, Synchrony has those too in the form of a no-penalty and bump-up CD.

Limelight Bank_logo

Limelight Bank

Rating: 4.4 stars out of 5
4.4 Bankrate CD score

  • Annual percentage yield

    3.75% – 4.35%

  • Min. deposit to open

    $1,000

  • Term

    6 months - 3 years

Why Limelight Bank?

Limelight Bank offers CD terms of six months, one year, 18 months and three years. The rates are fairly competitive, and this mix of terms gives customers some flexibility to find a CD that matches their short-term saving needs. All of Limelight’s CDs require at least $1,000 to open. The bank doesn’t offer any specialty CDs, such as bump-up or no-penalty CDs.

CIBC Bank USA_logo

CIBC Bank USA

Rating: 4.6 stars out of 5
4.6 Bankrate CD score

  • Annual percentage yield

    3.01% – 4.31%

  • Min. deposit to open

    $1,000

  • Term

    9 months - 30 months

Why CIBC Bank USA?

CIBC Bank USA offers seven online-only CDs called Agility CDs with terms ranging from six months to 30 months that require a $1,000 minimum deposit. The withdrawal penalty for CIBC's CDs is one of the lowest around: All CDs have a penalty of 30 days of simple interest. Comparatively, other banks may charge 180 days or more of interest for a two-year CD. In addition to Agility CDs, the bank also offers jumbo CDs, which require a $100,000 minimum deposit, and an IRA CD.

TAB Bank_logo

TAB Bank

Rating: 4.1 stars out of 5
4.1 Bankrate CD score

  • Annual percentage yield

    3.81% – 4.21%

  • Min. deposit to open

    $1,000

  • Term

    1 year - 5 years

Why TAB Bank?

Tab Bank offers six CD terms ranging from one year to five years, which makes it a good option for opening up a CD ladder. Rates on all the terms offered are competitive, with the highest APYs offered for the shorter-term CDs. You'll need $1,000 to open a CD here.

Vio Bank_logo

Vio Bank

Rating: 4.2 stars out of 5
4.2 Bankrate CD score

  • Annual percentage yield

    2.75% – 4.10%

  • Min. deposit to open

    $500

  • Term

    6 months - 5 years

Why Vio Bank?

Vio Bank offers traditional CDs with terms ranging from six months to 10 years, an extensive variety compared to some other banks. The minimum deposit for each account is relatively low at $500. Yields are competitive for all CDs, but Vio’s highest APYs are for CDs with terms of three years or less. But the early withdrawal penalties are steep. For any CD longer than 32 days, you'll lose a percentage of the amount you withdraw, plus pay a $25 fee.

LendingClub Bank_logo

LendingClub Bank

Rating: 4.4 stars out of 5
4.4 Bankrate CD score

  • Annual percentage yield

    3.40% – 4.10%

  • Min. deposit to open

    $500

  • Term

    6 months - 5 years

Why LendingClub Bank?

LendingClub Bank offers six terms of CDs, ranging from a six-month CD to a five-year CD. The interest rates for all terms are all fairly competitive, especially for the shorter terms. You'll need to deposit at least $500 to open a certificate. LendingClub’s CDs, like all standard CDs, are subject to early withdrawal penalties. For CDs with terms of one year or less, the penalty is 90 days simple interest. For terms greater than one year, the penalty is 180 days simple interest. These terms are pretty good. You can find banks that have way harsher early withdrawal penalties than LendingClub's.

Alliant Credit Union_logo

Alliant Credit Union

Rating: 4.2 stars out of 5
4.2 Bankrate CD score

  • Annual percentage yield

    3.10% – 4.10%

  • Min. deposit to open

    $1,000

  • Term

    3 months - 5 years

Why Alliant Credit Union?

Alliant offers a range of CD term lengths from three months to five years, and all of them carry strong APYs. The range of term lengths offered makes Alliant a good place to build a CD ladder. All CDs require $1,000 to open (or $75,000 if you opt for a jumbo CD, which pay slightly higher APYs). The credit union also doesn’t have a maximum amount that you can put in a CD. The credit union doesn’t offer any specialty CDs such as no-penalty CDs or bump-up CDs. Anyone can joint Alliant Credit Union; membership is not restricted.

Bankrate's expertise

Bankrate’s trusted industry knowledge

Read our full methodology

Our banking editorial team regularly evaluates data from more than a hundred of the top financial institutions across a range of categories (brick-and-mortar banks, online banks, credit unions and more) to help you find the options that work best for you.

48 years

of industry experience

3 k

deposits rates tracked

120

banks reviewed

Recent news on CD rates

The Federal Reserve held rates steady during its March meeting. Previously, the Fed cut rates by 25 basis points — or a quarter of a percentage point — during its December 2024 meeting. The federal funds rate continues to rest at a range of 4.25-4.50 percent.

Though CD rates have fallen since the Federal Reserve lowered rates in late 2024, competitive CD rates are still higher than the national average CD rates. What’s more, high-yielding CD rates continue to outpace the rate of inflation.

When looking for a CD, seek a competitive interest rate, a term length that works for you and FDIC or NCUA insurance coverage. Also familiarize yourself with early withdrawal penalties to avoid potentially losing money.

Learn more: CD rate forecast

National average interest rates for CDs

Researching average interest rates provides insight into the CD rate environment and can help in finding a CD with a yield that's much higher than average. Here are the current average rates as of Apr. 21, according to Bankrate's most recent survey of institutions:

CD term CD national average APY
1 year 2.01%
2 year 1.77%
3 year 1.69%
4 year 1.82%
5 year 1.69%
Bankrate logo
BANKRATE EXPERT FAQ

What our industry experts are saying

Taylor Kovar

CFP, founder and CEO of 11 Financial

CD rates in 2025 are going to depend on what the Fed does next. They just decided to keep rates steady for now, but there’s still talk about possible cuts down the road. That means we might not see CD rates drop right away, but banks could still shake things up with competitive offers. If you’re thinking about locking in a CD, now might be a good time—waiting too long could mean missing out on better rates if they start to slide later this year.

Mark Hamrick

Bankrate senior economic analyst

The difference between the average yield and the highest yields on CDs is considerable. That’s a factor now of about two times or more. So, why settle for an average yield when you can do better than that? You couldn’t leave money on the table if it were sitting in front of you, right? Opting for saving in the first place, along with higher yields, is key.

Christopher Stroup

CFP, founder and president of Silicon Beach Financial

After three consecutive rate cuts since September, the Fed is now in a "wait and see" mode. It's important to know that any potential decrease in yields won't affect your existing CD until it matures. If your rate is currently locked in, you're protected from any future rate cuts for the term of your current CD. For those looking to secure a new CD, now might be a good opportunity to lock in a higher yield before the Fed’s stance potentially pushes rates lower should economic and inflation data support that move.

Current promotional CD rates

Some banks have promotional CD rates, even some of the largest banks. There might be certain restrictions on these CDs. For instance, you might have to bring money from outside the bank to be eligible for this APY. Promotional CDs may renew at a different term and at a different APY. (That APY is likely to not be known when you purchase a promotional CD.)

Bank name CD product APY
U.S. Bank 5-month 4.00%
Bank of America 7-month 3.80%
Wells Fargo 7-month 3.75%
PenFed Credit Union 15-month 3.25%

These promotional CDs might not be available in certain areas. APYs for some products may vary by region. The CD may renew for a different term. The promotional offers are as of March 27.

Compare top CD rates today by term

When you open a CD, selecting a term is an important step. The term is the length of time that the money stays stashed in the account. For example, opening a CD with a one-year term means you’re making a commitment to the bank that you’ll keep your money in the account for one year.

Here’s where you’ll find some of the top-yielding CDs by term.

Caret Down Icon
Institution APY Min. deposit
Popular Direct 4.40% APY $10,000
America First Credit Union 4.35% APY $500
Bask Bank 4.35% APY $1,000
Institution APY Min. deposit
America First Credit Union 4.35% APY $500
Limelight Bank 4.35% APY $1,000
Popular Direct 4.35% APY $10,000
Institution APY Min. deposit
America First Credit Union 4.35% APY $500
Bask Bank 4.30% APY $1,000
Marcus by Goldman Sachs 4.25% APY $500
Institution APY Min. deposit
SchoolsFirst Federal Credit Union 4.15% APY $500
America First Credit Union 4.15% APY $500
Synchrony Bank 4.00% APY $0
Institution APY Min. deposit
SchoolsFirst Federal Credit Union 4.25% APY $500
America First Credit Union 4.20% APY $500
Synchrony Bank 4.15% APY $0

Note: Annual percentage yields (APYs) shown were updated between April 14 and April 20. Bankrate's editorial team validates this information regularly. APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes only FDIC banks or NCUA credit unions in its listings.

How to choose the best CD for you

The top three things to look for when choosing a CD are:

Learn more: What is a CD?

Types of CDs

Banks and credit unions offer a wide range of CDs to fit different financial needs. Take some time to consider which type of CD is best for you.

Caret Down Icon

Traditional CDs are the most common type of CD, and they earn a fixed APY for the entire term. These CDs usually don’t allow you to add more funds after your opening deposit, and they also tend to have strict early withdrawal penalties.

If you withdraw from a CD before it matures, the penalty is usually equal to the amount of interest earned during a certain period of time. For instance, a bank may impose a penalty of 90 days of simple interest on a one-year CD if you withdraw from that CD before the year is up. 

When this CD makes sense: Traditional CDs are a good choice if you know exactly when you’ll need the money, and there’s no chance of needing it before the term is up. They’re often good for CD ladders or other CD investing strategies in which timing is important.

Most CDs charge you a penalty for accessing the funds before the term is up. However, some banks offer no-penalty CDs — also known as liquid CDs — which allow you to withdraw the money early without being charged a penalty. 

A bank may require that you wait at least some time after opening a no-penalty CD — generally around six or seven days — before you’re able to withdraw from the CD, and some banks don’t allow for partial withdrawals. No-penalty CD rates tend to be lower than regular CD rates, but they can be better than some high-yield savings account or money market account rates.

When this CD makes sense: Consider a no-penalty CD if you don’t plan to withdraw the money before the CD matures, but you want to keep some flexibility in case you need access to the funds. As a result, you’re willing to give up a little return for added liquidity.

Bump-up CDs enable you to request an increase in your rate during the CD term under certain conditions. Banks that offer this CD usually allow just one bump-up per term. For example, you may open a three-year CD at a given rate, and the bank offers an additional half-point rate increase when you’re one year into the term. With a bump-up CD, you can request a rate increase for the remainder of the term. Like no-penalty CDs, bump-up CDs often pay lower rates than traditional CDs.

When this CD makes sense: A bump-up CD could be a good option if rates are expected to rise significantly during the term of the CD. Otherwise, you’re likely accepting a lower rate for limited potential upside.

Who should get a CD?

A CD is useful when you want to earn a consistent, fixed yield on your lump sum of cash over the term of your savings account, especially if interest rates are declining. It also encourages you to be disciplined in leaving your money untouched as it earns interest because a CD is a time deposit account and imposes an early withdrawal penalty if you withdraw your funds before the CD matures.

A good time to open a CD is when you have a lump sum of money that you want to sock away for a specific period of time in the hopes of consistently growing interest. Also, it’s worth opening a CD when you know you have a specific timeframe in mind when you think you’ll need this money. A six-month CD, for example, could be a good place to put your money aside for an insurance premium that’s due in eight months.

Learn more: How to build a CD ladder

Pros and cons of CDs

Before you choose a CD, weigh the pros and cons to ensure you're making the right investment choice for your financial situation.

Pros

  • Checkmark Icon

    Some CDs earn a higher APY than money market accounts or savings accounts.

  • Checkmark Icon

    CDs are a good place to store funds that you don’t want to be able to dip into too easily.

  • Checkmark Icon

    CDs can help you separate money for financial goals or future expenses.

  • Checkmark Icon

    Deposit insurance covers accounts at FDIC banks and NCUA credit unions up to at least $250,000.

  • Checkmark Icon

    A CD can diversify your savings plan with a guaranteed rate.

  • Checkmark Icon

    Your principal remains intact if you keep your money in a CD for the full term.

Cons

  • CDs tie up your money for a potentially long period of time.

  • Many CDs have early withdrawal penalties.

  • Money committed to a CD could end up earning a lackluster yield if rates rise substantially. The early withdrawal penalty may negate any benefit of switching to a higher-yielding CD, however.

  • You could potentially earn better rates of return in the stock market or by investing in other securities.

Alternatives to CDs

High-yield savings account

This account tends to earn a yield currently of about seven times higher than the national average. At online-only banks, these accounts often won’t have monthly service fees or minimum balance requirements.

Caret Right Icon

Money market account

This is an interest-bearing account available at both banks and credit unions which is similar to a savings account but also offers some checking account features.

Caret Right Icon

Short-term bond funds

These funds, be they exchange-traded funds (ETFs) or mutual funds, typically invest in government and corporate bonds. Short-term bond funds typically have durations of one to three and a half years, according to Fidelity.

Caret Right Icon

Index funds

These funds are based on a preset basket of stocks, or index. They promise ownership of a wide variety of stocks, greater diversification and lower risk – usually all at a low cost.

Caret Right Icon

CD FAQs

Meet our Bankrate experts

Written by: Matthew Goldberg, Senior Consumer Banking Reporter

Matthew is a senior consumer banking reporter with more than two decades of journalism and financial services expertise, helping readers make informed decisions about their personal finance needs. His banking career includes being a banker in New York City and a bank officer at one of the nation's largest banks. Matthew is currently a member of the Board of Governors at the Society for Advancing Business Editing and Writing (SABEW), chairing its training member engagement committee and is co-chair of its Finance Committee.

Read more from Matthew Goldberg

Edited by: Marc Wojno, Senior Editor, Banking

I’ve been a personal finance writer and editor for more than two decades specializing in money management, deposit accounts, investing, fintech and cryptocurrency. Throughout the years of crunching numbers and words, I’ve been passionate about helping readers make informed decisions on managing their money with uniquely helpful advice. I have an MBA from George Washington University, and am an active member of both the National Press Club and SABEW, where I’ve volunteered as a judge for their respective journalism awards programs. Recently, I was elected Treasurer of the Society of Professional Journalists’ SDX Foundation (Washington, DC chapter), raising scholarship money for aspiring young journalists.

Read more from Marc Wojno

Reviewed by: Greg McBride, CFA, Chief Financial Analyst, Bankrate

Greg McBride is a CFA charterholder with more than a quarter-century of experience analyzing banking trends and personal finance. As Bankrate's Chief Financial Analyst, he leads the team that researches and provides guidance on savings vehicles, from high-yield savings accounts to CDs. Through Bankrate.com's Money Makeover series, he has helped consumers develop their saving habits, maximize their returns on deposit accounts, and make smart decisions about where to keep their cash. He is frequently quoted by major media outlets on banking trends and Federal Reserve policy impacts on deposit rates.

Read more from Greg McBride

Research methodology

Bankrate researches over 100 banks and credit unions, including some of the largest financial institutions, online-only banks, regional banks and credit unions with both open and restrictive membership policies.

To find the best CD rates, we regularly survey CD offerings from the banks and credit unions that continually offer the most competitive CD rates. We also score these institutions on their CD offerings, including APY, minimum deposit requirements, term selection and more.

The banks and credit unions on this page are selected based on their CD APYs, minimum opening deposit requirements and Bankrate’s score for their CDs. Only banks and credit unions with broadly available CD offerings made the list. Learn more about our methodology for reviewing banks.

Learn more

Calculator Icon
Get Started

Calculate your CD earnings

Estimate how much money you will earn with a fixed APY when your CD matures.

CD Icon
Compare

Pros and cons of CD investing

Weigh the benefits and drawbacks of CD accounts to determine if this savings strategy is right for you.

Invest Rate Icon
In the news

Daily CD rate trends

Stay informed about today's highest CD yields and what banks and credit unions offer them.