Banks offer varying CD rates, with some still competitive despite rate cuts by the Fed in 2024 and 2025. Top rates hit around 4% APY for shorter terms. The highest CD rate as of November 21, 2025, is 4.1% APY from Marcus by Goldman Sachs on a 14-month CD.

National CD averages are significantly lower than current top rates, emphasizing the need to shop around before opening an account. Online banks and credit unions often offer better rates due to lower overhead costs. CDs are secure but require keeping funds for the full term to avoid penalties.

While CDs offer stability, early withdrawals come with penalties. For long-term growth, consider alternative accounts like high-yield savings or money market accounts. CDs don’t match market investment returns, making them less ideal for reaching long-term savings goals like retirement.

Read more at Yahoo Finance: Best CD rates today, November 21, 2025 (up to 4.1% APY return)