Today’s CD rates are still above the national average, thanks to the Federal Reserve’s interest rate cuts in 2024. The highest CD rate as of August 4, 2025, is 5.5% APY with a $1000 minimum deposit from Gainbridge®. Online banks and credit unions typically offer more competitive rates than traditional banks. The national average interest rate for a 1-year CD is 1.77%.
If you’re considering a CD, it’s crucial to find one with a high APY and suitable term length. Shop around and compare CD rates from various institutions. Online banks often offer the most competitive rates due to lower overhead costs. Be mindful of minimum deposit requirements and review terms like early withdrawal penalties and auto-renewal policies, as some CDs offer more flexibility.
Read more at Yahoo Finance: Best CD rates today, August 4, 2025 (Lock in up to 5.5% APY)