Today’s CD rates remain above the national average, with the Federal Reserve cutting interest rates in 2024 and 2025. Lock in high rates with a certificate of deposit (CD) now. The highest CD rate is 4.1% APY, offered by Marcus by Goldman Sachs, Sallie Mae, and Synchrony. Online banks and credit unions typically offer more competitive rates than traditional banks.

The national average interest rate for CDs is 1.68% for a 1-year term. Today’s rates are some of the highest in nearly two decades due to the Federal Reserve’s efforts to combat inflation. When opening a CD, choose one with a high APY and matching term length. Shop around, consider online banks, check minimum deposit requirements, and review account terms.

Evaluate CD rates from various financial institutions before choosing an account. Online banks often offer the most competitive rates due to lower overhead costs. Higher CD rates may have higher minimum deposit requirements, so ensure your deposit aligns with the requirements. Review terms for early withdrawal penalties and consider options like no-penalty CDs for flexibility.

Read more at Yahoo Finance: Best CD rates today, October 27, 2025 (Lock in up to 4.1% APY)