As of today, April 8, 2025, CD rates continue to provide competitive returns despite the Federal Reserve’s actions to lower the federal funds rate three times in 2024. This decline has affected deposit account rates, but savvy savers can still lock in high-yield Certificates of Deposit (CDs). The top CD rates today offer returns over 4%, with some reaching up to 4.50% APY.

Top CD Rates for April 8, 2025

CDs today offer significantly higher rates than traditional savings accounts. Short-term CDs (6 to 12 months) generally provide rates between 4.00% and 4.50% APY. Currently, two of the best offers are:

• Marcus by Goldman Sachs: 4.50% APY on a 14-month CD, with a minimum deposit of $500.
• LendingClub: 4.50% APY on a 10-month CD, requiring a $2,500 minimum deposit.

These rates are among the highest available today, and locking in such rates allows savers to secure a solid return even as market rates shift.

Best CD Rates from Our Verified Partners

For more options and a deeper dive into today’s top CD accounts and rates, check out our curated list of the best offers from trusted institutions.

A Look Back: Historical CD Rate Trends

Over the last two decades, CD rates have fluctuated in response to major economic events. In the early 2000s, high CD rates followed the dot-com boom, but the rates dropped after the global financial crisis of 2008. By 2009, the average one-year CD rate had fallen to around 1% APY, while five-year CDs hovered under 2% APY.

The trend of declining rates continued through the 2010s due to the Federal Reserve’s low-interest policies. At their lowest point, 6-month CDs averaged 0.1% APY by 2013. However, from 2015 to 2018, the Fed raised rates, leading to slight improvements in CD returns.

The COVID-19 pandemic in 2020 led to emergency rate cuts, causing CD rates to hit new lows. By 2022, inflation triggered a series of rate hikes, with the Fed increasing rates 11 times between March 2022 and July 2023. This action resulted in higher CD rates, which, though now decreasing slightly, remain elevated compared to historical standards.

Understanding Today’s CD Rates

In general, longer-term CDs have traditionally offered higher interest rates than shorter-term options. This is because locking in funds for a longer period carries more risk. However, the trend has shifted recently, with the highest CD rates often found in 12-month CDs. This inversion of the yield curve suggests uncertainty in the economy and expectations of lower rates in the future.

For more guidance on choosing between short-term and long-term CDs, check out our article: Short-Term vs. Long-Term CD: Which is Best for You?

How to Choose the Best CD for Your Needs

When selecting a CD, it’s crucial to consider more than just the APY. Here are key factors to help you make the best choice:

1. Investment Goals: Determine the length of time you are comfortable locking away your funds. Withdrawal before the CD matures usually results in penalties, so it’s important to pick a term that matches your financial goals.
2. Financial Institution: Compare CD rates across various institutions. Online banks and credit unions often offer higher rates than traditional banks because of their lower overhead costs. Ensure any online bank is FDIC-insured (or NCUA-insured for credit unions) for security.
3. Account Terms: Review the specifics of the CD, including its maturity date, withdrawal penalties, and any minimum deposit requirements to ensure the account fits your budget.
4. Inflation Concerns: CDs are a safe way to earn a fixed return, but inflation can erode the purchasing power of your returns, especially with long-term CDs. Consider this when selecting a term length and the amount to invest.

Explore More: Find the Best CD Rates Today
Discover more about today’s highest CD rates and find the perfect fit for your savings goals with our in-depth guide. Don’t miss out on these opportunities to lock in competitive returns.