From Yahoo Finance: 2025-04-03 06:00:00

If you’re considering a secure place to save your money, a certificate of deposit (CD) could be a great option with higher interest rates than traditional accounts. CD rates have been declining since the Federal Reserve cut its target rate, but some institutions offer competitive rates of 4% APY and up.

The highest CD rates today are at 4.50% APY from Marcus by Goldman Sachs on a 14-month CD with a $500 minimum deposit. LendingClub also offers 4.50% APY on a 10-month CD with a $2,500 minimum deposit. Now might be a good time to lock in these rates.

The Federal Reserve has been decreasing the federal funds rate, impacting deposit interest rates. Financial institutions typically follow suit with lower rates when the Fed cuts. With the Fed reducing rates, CD rates are starting to fall again, making it a good time to consider opening a CD for the best rates available.

Opening a CD involves researching rates, selecting an account that suits your needs, gathering necessary documents, completing the application process, and funding the account. Be sure to consider the interest rate, term length, and fees associated with each account to make an informed decision.



Read more at Yahoo Finance: CD rates today, April 3, 2025 (lock in up to 4.50% APY)