Top CD rates today: April 29, 2025 | Lock in 4.40% APY until April 2026
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Key takeaways
- Today's highest CD rate across terms is 4.40 percent APY, offered on three-month, six-month and one-year CDs.
- Highest CD rates on some terms are around twice the national averages.
- 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.
A certificate of deposit (CD) can be a useful tool for meeting your savings goals. Whether you’re saving to buy a house, a new car or your dream vacation, a CD allows you to calculate up front exactly how much interest you’ll have earned when the term is up. This is possible due to a CD’s fixed annual percentage yield (APY).
Currently, the highest APY across CD terms is 4.40 percent, and it’s offered on three CDs with terms of up to one year. Since February, leading CD rates have remained comparatively stable, with nine rate drops and six rate increases, in total. By contrast, the month of January saw a total of 13 rate drops and one increase. The Federal Reserve has left its benchmark rate unchanged since lowering it Dec. 19, which could be causing the recent stability in banks' APY offerings.
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 | 4.40% | 1.90% | $1,500 | $218 |
| 9-month | CIBC Bank USA | 4.31% | N/A | $1,000 | $322 |
| 1-year | Popular Direct | 4.40% | 2.00% | $10,000 | $440 |
| 18-month | TAB Bank | 4.16% | 2.23% | $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 29, 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.
What’s been going on with CD rates?
Rates on high-yield CDs started falling in late 2023 and early 2024 as banks anticipated Federal Reserve rate cuts. The APYs banks offer on deposit accounts tend to move in response to the federal funds rate. Top yields decreased in the wake of three Fed rate cuts in 2024. However, the Fed has held its benchmark rate steady so far in 2025, and we've seen some stability in leading CD rates, possibly as a result.
However, competitive CD rates continue to outpace the rate of inflation, which currently stands at 2.4 percent. "Now is a good time to open a CD so you can lock in a solid rate and start earning on your savings sooner," says Louise Eisenach, vice president of savings and deposits at Capital One. "While future interest rates will in part remain up to the Fed, opening a CD now can help you lock in a strong rate to earn guaranteed returns on savings you don’t need immediate access to."
What the current rate environment means for CDs
Recent federal funds rate changes: The Federal Reserve has held the Federal Funds rate steady so far in 2025. This comes after officials cut the rate three times in late 2024. The rate currently stands at a target range of 4.25-4.5 percent. Prior to the 2024 rate cuts, the Fed had gradually raised rates 11 times in 2022 and 2023, and rates stood at a 23-year high leading up to the September 2024 cut.
What this means for deposit accounts such as CDs: Yields on competitive savings accounts and CDs tend to fluctuate based on the Fed’s interest rate moves. As such, many banks increase their yields when the Fed raises rates, and they lower yields when the federal funds rate drops. The Fed’s previous rate cuts spurred decreases in CD APYs, although officials' current holding pattern could mean an overall stabilization in CD rates.
Prior to the September 2024 rate cut, the Fed had held rates steady since July 2023. Meanwhile, top CD APYs peaked in late 2023 and have since been decreasing gradually, as illustrated below.
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.
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.
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.
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.
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.
Share certificate: At credit unions, CDs are often referred to as "share certificates".