From Yahoo Finance: 2025-05-05 06:00:00

Today’s CD rates are still above the national average, with a 4.40% APY rate offered by Marcus by Goldman Sachs on a 14-month CD. Online banks and credit unions generally offer more competitive rates compared to traditional banks.

The highest national average interest rate for CDs stands at 1.77% for a 1-year term. Today’s average CD rates are some of the highest seen 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 term length that aligns with your financial goals. Shop around, consider online banks for better rates, check minimum deposit requirements, and review account terms before making a decision.

Read more: Lock in up to 4.40% APY ahead of the next Fed rate decision