Highest CD rate today is 4.50% APY on a 14-month CD from Marcus by Goldman Sachs.

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

CD rates vary widely across financial institutions, with longer-term CDs historically offering higher rates. However, in today’s economic climate, the opposite is true. The highest CD rate today is 4.50% APY on a 14-month CD from Marcus by Goldman Sachs, with a $500 minimum deposit. LendingClub also offers 4.50% APY on a 10-month CD with a $2,500 minimum deposit.

The amount of interest earned from a CD depends on the annual percentage rate (APY) and how often interest compounds. For example, a $1,000 one-year CD with 1.81% APY and monthly compounding would grow to $1,018.25. Choosing a 4% APY CD would yield $1,040.74. Depositing more, such as $10,000, would increase earnings to $10,407.42.

When selecting a CD, consider factors beyond just the interest rate. Different types of CDs offer various benefits, such as Bump-up CDs that allow for a rate increase, No-penalty CDs for early withdrawal, Jumbo CDs with higher minimum deposits, and Brokered CDs purchased through a brokerage. Each type may offer different terms and risks to consider.



Read more at Yahoo Finance: CD rates today, April 6, 2025 (up to 4.50% APY)