The Federal Reserve just announced its first rate cut of 2025, making it a good time to lock in a competitive CD rate before rates fall further. CD rates vary widely, so it’s important to shop around for the best rate. The highest CD rate as of October 11, 2025, is 4.1% APY offered by Marcus by Goldman Sachs on its 14-month CD.

Online banks and credit unions generally offer the best CD rates today, especially on shorter terms of around one year or less. The amount of interest you can earn from a CD depends on the annual percentage rate (APY), which considers the base interest rate and how often interest compounds.

For example, investing $1,000 in a one-year CD with 4% APY would grow to $1,040.74 by the end of the year. The more you deposit in a CD, the more you stand to earn. Different types of CDs, like bump-up, no-penalty, jumbo, and brokered CDs, offer varying benefits and flexibility beyond traditional options.

Read more at Yahoo Finance: Best CD rates today, October 11, 2025 (best account provides 4.1% APY)