From Yahoo Finance: 2025-03-29 06:00:00

The Federal Reserve has cut its federal funds rate three times in 2024, 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 offer. Historically, longer-term CDs offered higher rates, but today the opposite is true.

Currently, the highest CD rate is 4.50% APY, offered by Marcus by Goldman Sachs on its 14-month CD with a $500 minimum deposit. LendingClub also offers 4.50% APY on its 10-month CD with a $2,500 minimum deposit. The amount of interest you earn from a CD depends on the APY, which considers the base rate and compounding frequency.

Investing in a CD can earn you more money the larger your deposit. For example, a one-year CD at 4% APY with a $10,000 deposit would yield $407.42 in interest upon maturity. When choosing a CD, consider factors beyond the interest rate, such as different types of CDs like bump-up, no-penalty, jumbo, and brokered CDs, each offering unique benefits and terms.



Read more at Yahoo Finance: CD rates today, March 29, 2025 (best account provides 4.50% APY)