Lock in a high CD rate today to watch your savings grow. Compare rates across financial institutions to find the best offer. Longer-term CDs no longer guarantee higher rates. Currently, the highest CD rate is 4.1% APY with Marcus by Goldman Sachs. Your earnings from a CD depend on the APY, with interest compounding daily or monthly.

Investing $1,000 in a one-year CD with 1.7% APY and monthly compounding interest would yield $17.13 in interest. Opting for a 4% APY would grow your balance to $1,040.74, earning $40.74 in interest. Depositing more in a CD leads to higher earnings, with $10,000 resulting in $407.42 in interest.

Consider different CD types beyond traditional ones, like the Bump-up CD, No-penalty CD, Jumbo CD, and Brokered CD. Each type offers unique benefits, such as the ability to request a higher interest rate, withdraw funds penalty-free before maturity, or earn higher rates with a higher minimum deposit.

Read more at Yahoo Finance: Best CD rates today, December 7, 2025 (lock in up to 4.1% APY)