Today’s CD rates still hover well above the national average. The Federal Reserve reduced its target interest rate three times in 2024 and recently announced its first rate cut of 2025. This has a ripple effect on deposit account rates, which means now could be your last chance to lock in today's high rates with a certificate of deposit (CD). Here’s a look at today’s best CD rates and where you can find the best offers.

As of November 3, 2025, the highest CD rate is 4.1% APY. This rate is offered by Marcus by Goldman Sachs on its 14-month CD. There is a $500 minimum opening deposit required.

Here is a look at some of the best CD rates available today from our verified partners.

If you're considering a CD, these rates are some of the highest available, especially when compared to the national average rates, which are significantly lower. It's also worth noting that online banks and credit unions generally offer more competitive rates compared to traditional brick-and-mortar banks​.

Read more: What is a good CD rate?

Here’s a look at the average CD rate by term as of October 2025 (the most recent data available from the FDIC):

The highest national average interest rate for CDs stands at 1.68% for a 1-year term. However, in general, today’s average CD rates represent some of the highest seen in nearly two decades, largely due to the Federal Reserve's efforts to combat inflation by keeping interest rates elevated.

If you’re thinking about opening a CD, it’s important to choose one with a high APY and term length that matches your financial goals. Here are some tips for finding the best CD rates and accounts that match your needs:

Shop around: It’s a good idea to evaluate CD rates from a variety of financial institutions and compare your options before settling on an account. You can easily compare CD rates online.

Consider online banks: Online banks tend to have lower overhead costs, which allows them to offer higher interest rates on CDs. In fact, online banks often have the most competitive rates available.

Check minimum deposit requirements: Higher CD rates might come with higher minimum deposit requirements, so make sure the amount you plan to deposit aligns with the requirements to get the best rate.

Review account terms and conditions: Beyond the CD’s rate, look at terms for early withdrawal penalties and auto-renewal policies. Some CDs offer better terms for flexibility, such as no-penalty CDs, which allow you to withdraw your funds without a fee before the maturity date.

Opening a new certificate of deposit (CD) can be a great way to accelerate your savings. These accounts typically pay higher interest rates than traditional savings accounts. CDs can also help you avoid spending your savings on impulse buys because you’ll have to pay a penalty if you take money out of a CD before it matures.

However, most CDs require you to deposit a certain amount in order to open an account. Here's what you should know about CD minimum balance requirements.

When you open a CD, you'll need to fund the account within a certain number of days in order to earn interest. And you'll need to maintain that balance until the CD matures to avoid early withdrawal penalties.

Some banks allow you to open an account with any amount — even $1. In most cases, however, there's a minimum opening deposit requirement.

Financial institutions set their own minimum opening deposit requirements for CDs. Often, you’ll need at least $500 to $1,000 to open an account. But some banks may require more, especially to earn the highest rates available. That's particularly true with jumbo CDs, which have higher minimum balance requirements — typically, $100,000 or more. In exchange for the larger deposit, you may be able to earn a higher interest rate than what's offered on traditional CDs.

Using certain savings strategies can be challenging because of high CD minimum deposit requirements. For example, if you’re using a CD ladder approach, you’ll need to split up your total deposit into several chunks. You might open five CDs that mature at different times, so your money becomes available more frequently while you still earn the highest interest rate possible.

If you need at least $1,000 for each CD minimum deposit, for example, you need at least $5,000 to get started building a CD ladder.

Generally, no, you can't add money to a CD once the account has been opened and funded. CDs are time-deposit accounts, which means you must leave your initial deposit untouched for a certain length of time to avoid penalties.

Some banks and credit unions offer add-on CDs, which allow you to make additional deposits. The specifics vary for each bank and credit union; some allow unlimited deposits, while others let you make a one to two additional deposits before the CD matures. Keep in mind that interest rates on add-on CDs are generally lower than traditional CDs. These are our picks for the best CD rates and accounts available today.

If you think you may not have enough money to open a CD, consider the following:

Look into a high-yield savings account: The rates on many high-yield savings accounts rival those offered on even the best CDs out there. Plus, you have the added advantage of accessing your funds whenever you want.

Shop around: If you explore other banks and credit unions, you may find a lower minimum balance requirement or a higher CD rate.

Open an add-on CD: These often have lower CD minimum deposit requirements to begin with, making it easier for you to get started.

Check out club savings accounts: If you like the idea of timed deposits, one idea is a club account. These are more common at credit unions and often used for specific savings goals, such as holiday shopping or vacations.

When you’re saving money, every dollar counts — including interest — so keeping your money in a safe, high-yielding account is a good way to start working toward your savings goals.

High-yield savings accounts (HYSAs) and certificates of deposit (CDs), are two good examples. Both are savings accounts that can earn 10 times or more interest than traditional savings accounts offered by many banks. However, they differ in important ways.

With most CDs, you agree to leave your money in the account untouched for a set period, called its term. You'll be penalized if you take money out before the end of the term. A high-yield savings account allows you to withdraw your money at any time.

So which one is a better place to park your cash? That depends on current interest rates, when you need the money, how you want to spend the money, and your saving goals. Read on to decide whether a high-yield savings account or CD is better for you.

A high-yield savings account, also called a high-interest savings account, offers an interest rate significantly higher than a traditional savings account. Typically, online banks provide high-interest savings accounts with the best rates, meaning in-person banking likely won’t be an option. However, many online banks offer ATM access, mobile app deposits, and the ability to link an outside checking or savings account to your high-yield savings account for transfers.

Like traditional savings accounts, high-yield savings accounts have a variable rate of return, usually shown as an annual percentage yield, or APY, that banks and credit unions raise and lower as market rates and economic conditions change.

CDs are savings accounts with term lengths ranging from a few months to several years. In exchange for earning a high APY, you agree to leave your money in the account for the length of the term. If you withdraw your money before the term is up, you’ll likely be charged a penalty such as forfeiting a portion of the interest you’ve earned. Some banks offer no-penalty CDs, usually with lower APYs.

APYs on longer-term CDs tend to be higher — up to a point. Currently, CD rates rise consistently until 12 months, after which rates fall slightly. A regular CD’s APY stays the same for its entire term. That’s good news if interest rates drop or stay about the same after you open the account. It can be less positive if interest rates increase significantly before the CD matures since you may miss out on the higher rate.

When your CD reaches maturity — its term ends — you’ll have a grace period of a week or two, depending on the bank to decide what to do with the money in the account. You can withdraw it or add it to another CD. If you don’t act, the bank will often automatically renew your CD for the same or a similar term length. To understand your options when your CD matures, be sure to read the terms of the account when you open it.

Whether a high-interest savings account or a CD is a better choice depends on your financial goals. A high-yield savings account is likely a better choice for building an emergency fund because you can add and withdraw money regularly. With most CDs, you can only add money when you open it and the grace period after it matures.

A CD is a good option for fixed savings goals such as money you've set aside for a car or a down payment on a house. Let’s say you don’t plan on starting your house shopping for a year. You could put your down payment money in a CD with a year-long term and let it earn interest until you need the funds.

Certificates of deposit (CDs) earn a fixed interest rate for a set period of time, known as the term. CD terms range from one month to a decade or longer. With so many options, it can be hard to know what the ideal term length for a CD is.

Choosing CD terms involves knowing your savings goals and timelines, understanding how interest rates are trending, and more. While there’s no one ideal CD term length, considering these factors can help you choose the best term for your situation.

A CD’s term is the amount of time the CD is open and earning compound interest. When you open a CD, you choose a term, fund the account, and leave the money alone. During the term, you typically can’t touch your principal deposit without an early withdrawal penalty (no-penalty CDs are the exception). At the end of the term, the CD reaches maturity, and you can access your money.

CD terms can vary quite a bit. Typical terms range from three months to five years, but some banks and credit unions offer terms as short as one month or terms as long as 10 or more years. Three-month, six-month, one-year, two-year, three-year, four-year, and five-year terms are relatively common.

Note that some CDs automatically renew for the same term if you don’t withdraw the money at maturity, though banks usually give you a grace period (around 7 to 10 days) to decide if you want to reinvest or withdraw. the funds. Learn more: What to do with a CD when it matures.

There isn’t an ideal CD term for every situation. The following considerations can help you decide which CD term to choose.

CD interest rates vary by term. Historically, longer CD terms offer higher interest rates in exchange for a longer time commitment since banks often rely on customer deposits for revenue-generating activities.

However, in a high interest rate environment, the opposite may be true; banks may not want to guarantee higher rates for a long period of time if they think rates will drop in the near future. Regardless, you may want to consider which terms are offering the best rates when you’re shopping for a CD. If you have flexibility, you may want to take advantage of the terms that are paying the most. These are the best CD rates on the market today.

You should also consider the amount of time you have to save up for your goal. Some savings goals have specific timelines, while others have flexible timelines. For example, if you’ve booked a venue to get married on a date six months away, that’s a specific savings timeline. On the other hand, if you’re saving to buy a house at some point in the next few years, you have a more flexible timeline.

You don’t need an exact timeline to choose a CD term, but you do need a general idea. That way, you can make sure to choose a CD that matures before you need access to your cash. Learn more: Short- or long-term CD: Which is best for you?

Generally, the money you deposit into a CD isn’t accessible until maturity. This means that throughout your CD’s term, you can’t touch your money without paying an early withdrawal penalty. Determining how long you can go without accessing your funds can help you choose the right CD term.

For example, if you’re setting aside money for an emergency fund, you need to be able to easily access the funds at any time. In that case, a high-yield savings account would probably make more sense. But if you know you won’t need to access this portion of your savings for at least five years, you can confidently choose a longer-term CD.

When you open and fund a CD, you know how much interest you’ll earn since the rate is guaranteed for the full term. If rates drop during your CD’s term, this fixed rate is an advantage. But if interest rates rise, your CD will continue earning the lower rate until maturity.

It’s not always possible to predict future interest rate changes. But having a general idea of what’s likely to happen can help you decide whether it’s a good time to lock in a rate for a long period of time or stick to a shorter term.

Inflation is the rise in prices of goods and services over time. When inflation rises above your CD’s interest rate, the money in your account won’t keep pace, and it’ll lose purchasing power over time. On the other hand, if your CD’s interest rate exceeds the rate of inflation, you’ll be in a better financial position when that CD matures.

Locking in a long-term CD with a competitive interest rate before inflation slows can help you outpace inflation over several years. But if inflation is expected to rise, locking in a long-term CD could be risky if the inflation rate exceeds your interest rate.

Like interest rates, you may not know what’s going to happen with inflation. But knowing what experts predict can help you choose a CD term. Learn more: How to protect your savings against inflation.

Choosing a CD term can be difficult, but a CD ladder can help you take advantage of several CD terms at once.

A CD ladder is a savings strategy that uses multiple CDs of varying terms to give you revolving access to a portion of your savings. It also lets you take advantage of the highest interest rates, regardless of whether they’re currently being offered for a short or long term.

To create a CD ladder, start by opening multiple CDs with staggered maturity dates. For example, you might open a one-year CD, a two-year CD, a three-year CD, and a four-year CD.

When your first CD matures, you can either withdraw your proceeds or reinvest them into a new CD. As each subsequent CD matures, you’ll do the same, either withdrawing or reinvesting your cash, depending on your current financial priorities. This strategy helps you plan for the long term and short term, giving you plenty of flexibility to reinvest cash into the appropriate term on a regular basis.

Short CD terms of less than a year are typically offered in increments of three months (3-month, 6-month, 9-month). After that, CDs are usually offered in yearly increments (1-year, 2-year, 3-year, etc.). However, some financial institutions may offer non-standard terms like 7 months, 13 months, or 20 months, so it's worth comparing your options.

Your savings goals and priorities should determine how long you keep money in a CD. If you know you’ll need to access your money by a certain date, plan your CD term so it matures before that date. If you have more flexibility with your savings timeline and won’t need to access the money anytime soon, you can choose a CD term based on other factors, such as interest rates or inflation predictions.

There is no best term for CDs because it depends on your situation. However, interest rates typically vary by term, and there may be one term that offers a higher interest rate. Often, longer-term CDs have better interest rates. But when interest rates are high and expected to drop, you may find better rates on shorter terms. Don’t let interest rates be the sole driver when choosing a CD term, though. Your financial priorities, timelines, and goals will also help you choose the best CD term.

As of the time of this writing, you can find CDs with competitive rates exceeding 5.00% APY — well above what you could find even a couple of years ago. But CD rates aren’t the only thing to consider when deciding if it’s worth it to invest in a CD. You should also figure out if you can afford to put money away for a set period of time without touching it.