Lock in a high CD rate today to grow your savings. Rates vary widely, so shop around for the best offer. Longer-term CDs historically offered higher rates, but today, shorter-term CDs may yield more. The highest CD rate as of August 31, 2025, is 4.45% APY with LendingClub on an 8-month CD.

Your CD interest earnings depend on the APY, which factors in the base interest rate 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. Opting for a 4% APY CD would yield $1,040.74.

Deposit more in a CD to earn more interest. With a $10,000 one-year CD at 4% APY, you could end up with $10,407.42 when the CD matures, earning $407.42 in interest. When choosing a CD, consider factors beyond just the interest rate, such as CD types like Bump-up, No-penalty, Jumbo, and Brokered CDs.

Read more at Yahoo Finance: Best CD rates today, August 31, 2025 (lock in up to 4.45% APY)