The Federal Reserve reduced its target interest three times in 2024. This had a wrinkle effect on the deposit account rates, which means that it could now be your last chance to lock today’s high rates with a deposit certificate (CD). Here is a look at today’s CD rates and where you can find the best offers.
CD rates are still competitive on 17 February 2025, especially for shorter conditions. For example, various financial institutions offer CD rates around 4.00% APY for conditions of approximately one year or less. CD rates in the longer term are not that high, but the top offers still float around 3.00% -4.00% APY for terms of three years and longer.
Nowadays, the highest CD speed 4.40% APY, offered by Nexbank on his 1-year CD. A minimum opening deposit of $ 25,000 is required.
Here is a look at some of the best CD rates that are available today from our verified partners.
View our choices for the best CD accounts available today >>
If you are considering a CD, these rates are some of the highest available, especially in comparison with the national average rates, which are considerably lower. It is also worth noting that online banks and credit associations generally offer more competitive rates compared to traditional physical banks.
Read more: What is a good CD speed?
Here is a look at the average CD speed in the long term of January 2025 (the most recent data available at the FDIC):
The highest national average interest rate for CDS is 1.82% for a period of 1 year. In general, however, today’s average CD rates represent some of the highest seen in almost two decades, largely because of the efforts of the Federal Reserve to combat inflation by keeping the interest rates increased.
If you are considering opening a CD, it is 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 meet your needs:
-
Store around: It is a good idea to evaluate CD rates from various financial institutions and compare your options before setting up on an account. You can easily compare CD rates online.
-
Consider online sofas: Online banks usually have lower overhead costs, so that they can offer higher interest rates on CDs. Online banks often often have the most competitive rates available.
-
Check the minimum deposit requirements: Higher CD rates can be supplied with higher minimal deposit requirements, so make sure that the amount you plan to deposit is in line with the requirements to get the best rate.
-
View the general terms and conditions for accounts: Look beyond the rate of the CD, look at terms for early recording fines and automatic extension policy. Some CDs offer better conditions for flexibility, such as no CDs with no penalty, with which you can withdraw your money without a fee before the expiry date.
