The Best CD Rates Today: April 1, 2025
The best certificate of deposit (CD) rates today hover around 4.50% to 4.65%. Short-term CDs, especially those with terms of 12 months or less, offer the most appealing rates in the current CD environment.
As the Federal Reserve does not meet again until May, we can expect CD rates to stay relatively stable in the near term. This stability presents a great opportunity to take advantage of a CD now, while rates remain attractive.
Here are some of the best CD rates available today.
|
Bank |
APY |
Term |
Minimum Deposit |
|---|---|---|---|
|
OMB |
4.65% |
7 Months |
$1,000 |
|
DR Bank |
4.65% |
6 Months |
$500 |
|
MutualOne Bank |
4.59% |
6 Months |
$500 |
|
Brilliant Bank |
4.55% |
9 Months |
$1,000 |
|
Marcus by Goldman Sachs |
4.50% |
14 Months |
$500 |
|
LendingClub |
4.50% |
10 Months |
$2,500 |
Data source: Issuing banks. Rates are accurate as of March 31, 2025.
Want to find the best CD for your timeline and goals? Explore top rates by term:
Should you open a CD?
Even though CD rates have decreased since mid-2024, they remain competitive. While the Federal Reserve has decided to keep the federal funds rate unchanged for now, many experts anticipate that rate cuts are likely to occur as we move further into 2025.
Now could be an excellent time to lock in a CD if:
- You want safe, guaranteed returns on your cash
- You want to protect your savings from the possibility of near-term interest rate cuts
The best CDs are backed by FDIC insurance, which protects deposits of up to $250,000 per person, per bank, in case of a bank failure. Although CDs present minimal risk, other investment avenues like the stock market might provide opportunities for higher returns.
How to open a CD
When you’re ready, you can open a CD in just a few simple steps:
- Shop around to find the highest APY for the term you want.
- Read the fine print and make sure you can meet the minimum deposit, if there is one.
- Apply for a new account on the bank’s website or mobile app, or over the phone. You’ll likely be approved and ready to invest in minutes.
- Link an existing bank account to transfer funds to a new CD. Remember that you can only make one deposit per CD.
Click here to explore the best CD rates and open a high-yield CD today.
Once you’ve opened your CD, keep an eye on its maturity date. When a CD matures, the bank will typically do one of two things unless you say otherwise:
- Pay out your initial deposit plus your earnings as cash
- Reinvest your funds in a new CD with the same term (but potentially a different APY)
Most banks give you a grace period of seven to 10 days after the CD’s maturity date to make a decision.
Earn up to 4.10% APY without the commitment
If you want to earn a high APY with more flexibility and less commitment, a high-yield savings account will allow you to deposit and withdraw money whenever you want and transfer money to other accounts quickly and easily. You can leave your money in the account as long as you want, with no time requirement.
Unlike CDs, savings accounts have variable rates, meaning they can change any time at the issuer’s discretion. But right now, high-yield savings account rates are nearly on par with the best CD rates, making either one a great choice, depending on your savings goals.
