CD rates have decreased post-Fed rate cuts, but still competitive at around 4-4.5%.

From Yahoo Finance: 2025-04-08 06:00:00

The Federal Reserve has cut the federal funds rate three times in 2024, leading to a decline in deposit account rates. However, you can still secure competitive returns with a certificate of deposit (CD) offering rates above 4%.

Short-term CDs currently offer rates around 4.00% to 4.50% APY, with Marcus by Goldman Sachs and LendingClub both offering 4.50% APY on their CDs.

Since the early 2000s and the global financial crisis of 2008, CD rates have fluctuated, with a recent increase following the COVID-19 pandemic. However, the Fed’s decision to cut rates in 2024 has caused CD rates to start decreasing.

Choosing a CD with a high APY is important, but other factors like goals, financial institution, account terms, and inflation also play a role in determining the best CD for your needs. Research thoroughly before making a decision.

Read more: Best CD rates today, April 8, 2025 (Lock in up to 4.50% APY)