From Yahoo Finance: 2025-04-26 06:00:00

The Federal Reserve has cut its federal funds rate three times in 2024, making it a good time to secure a competitive CD rate before rates drop further. CD rates vary widely among financial institutions, so be sure to shop around for the best rate. The highest CD rate today is 4.40% APY with Marcus by Goldman Sachs on a 14-month CD.

The best CD rates today are typically found on shorter terms of one year or less, with online banks and credit unions offering top rates. Your earnings from a CD depend on the annual percentage rate (APY) and how often interest compounds, which is usually daily or monthly. For example, a $1,000 investment in a one-year CD with 1.81% APY would grow to $1,018.25 after compounding monthly.

If you choose a one-year CD with 4% APY instead, your balance would grow to $1,040.74, including $40.74 in interest. The more you deposit in a CD, the more you can earn – a $10,000 deposit in a one-year CD at 4% APY would result in a balance of $10,407.42 at maturity, earning $407.42 in interest. Consider different types of CDs beyond traditional ones, such as Bump-up CDs, No-penalty CDs, Jumbo CDs, and Brokered CDs for added flexibility and benefits.



Read more at Yahoo Finance: Best CD rates today, April 26, 2025 (best account provides 4.40% APY)