Top CD rates today: May 30, 2025 | Best APY is 4.49%

It was announced today that the Personal Consumption Expenditures (PCE) index — the Federal Reserve’s preferred measure of inflation — ticked up 0.1 percent in April, while it rose 2.1 percent from the same month one year ago. The Fed considers an annual inflation rate of 2 percent to be a sign of a healthy economy, and it takes inflation into account when adjusting its key federal funds rate.

Macroeconomic conditions can impact rates on certificates of deposit (CDs) because banks often adjust their annual percentage yields (APYs) in response to changes to the federal funds rate. The Fed has left this benchmark rate unchanged so far in 2025, after lowering it three times late last year. Overall, top CD rates have been stable this year, with the month of May seeing a few slight increases and no decreases.

Bankrate’s table below shows the highest yields offered on widely available CDs, by term. It also lists national average CD rates and approximately how much you’d earn for each term with a $10,000 investment.

Today's best CD rates by term

Term	Institution	Highest APY	National average APY	Minimum deposit	Estimated earnings on $10,000
3-month	Popular Direct	4.40%	1.46%	$10,000	$108
6-month	First Internet Bank of Indiana	4.49%	1.94%	$1,000	$222
9-month	CIBC Bank USA	4.31%	N/A	$1,000	$322
1-year	First Internet Bank of Indiana	4.40%	2.01%	$1,000	$440
18-month	TAB Bank	4.16%	2.28%	$1,000	$630
2-year	Popular Direct	4.15%	1.78%	$10,000	$847
3-year	Popular Direct	4.15%	1.70%	$10,000	$1,297
4-year	America First Credit Union	4.20%	1.86%	$500	$1,789
5-year	Popular Direct	4.20%	1.72%	$10,000	$2,284

Note: Annual percentage yields (APYs) shown are as of May 30, 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

What is the impact of inflation on monetary policy?

After holding the federal funds rate steady since July 2023 to combat high inflation, officials cut the rate by a combined total of one percentage point, or 100 basis points, in three rate-setting meetings in late 2024. The rate cuts came at a time when the consumer price index (CPI), a measure of inflation, had been decreasing significantly from its decades-high annual rate of 9.1 percent in June 2022. In late 2024 and early 2025, inflation started to tick back up, although in recent months it’s been decreasing and currently stands at 2.3 percent. Policymakers have held the federal funds rate steady so far in 2025.

"Despite heightened uncertainty, the economy is still in a solid position," Fed Chair Jerome Powell said in remarks following the Federal Open Market Committee meeting on May 7. "The unemployment rate remains low, and the labor market is at or near maximum employment. Inflation has come down a great deal but has been running somewhat above our 2 percent longer-run objective."

The current rate of inflation is a significant factor that affects what the Fed decides to do with rates. A decrease in the federal funds rate, say close to or below the current inflation rate of 2.3 percent, can be bad for savers. Namely, it can translate to lower APYs on many CDs and savings accounts. Meanwhile, a fed rate cut can be good for borrowers as interest rates tend to decrease on loans.

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".

• Research methodology

  Bankrate calculates and reports the national average APYs for various CD terms. Factored into national average rates are the competitive APYs commonly offered by online banks, along with the very low rates often found at large brick-and-mortar banks.

  In June 2023, Bankrate updated its methodology that determines the national average CD rates. For the process, more than 500 banks and credit unions are now surveyed each week to generate the national averages. Among these institutions are those that are broadly available and offer high yields, as well as some of the nation’s largest banks.