Today, CD rates remain above the national average after the Federal Reserve’s recent rate cut. The highest CD rate is 4.25% APY as of October 20, 2025, offered by LendingClub and United Fidelity Bank. Online banks and credit unions generally offer more competitive rates than traditional banks. The national average interest rate for 1-year CDs is 1.70%.

To find the best CD rates, shop around and compare options from various financial institutions. Online banks often offer the most competitive rates due to lower overhead costs. Be aware of minimum deposit requirements and review account terms for early withdrawal penalties and auto-renewal policies. Consider options like no-penalty CDs for added flexibility.

Read more at Yahoo Finance: Best CD rates today, October 20, 2025 (Lock in up to 4.25% APY)