From Yahoo Finance: 2025-04-18 06:00:00

Looking for a secure place to store savings? Consider a certificate of deposit (CD). CD rates are varying, with some banks still offering competitive rates despite recent Fed cuts. The highest current CD rate is 4.40% APY from Marcus by Goldman Sachs on a 14-month CD with a $500 minimum deposit.

Compared to national averages, current top CD rates are significantly higher. Online banks and credit unions often offer competitive rates, making them good options for finding the best CD rates available. CDs are safe and stable, but consider drawbacks like early withdrawal penalties before deciding where to invest.

For long-term savings goals, CDs may not provide the growth potential of other investment options. Consider your financial goals and access needs before deciding between a CD, high-yield savings account, or money market account for your savings strategy.

Read more: Best CD rates today, April 18, 2025 (up to 4.40% APY return)