Best CD Rates Today, April 20, 2025: Up to 4.65%
KEY POINTS
- The leading CD rate available now: 4.65% for a 7-month term.
- If the Fed moves forward with rate cuts later in 2025, CD rates will drop.
- Choose a high-yield savings account instead to maximize interest earnings without locking up your cash.
Right now, CD rates are on fire, especially for six to 12-month terms. CDs of this length are earning rates of 4.50% to 4.65%.
With possible Fed cuts coming soon, it's smart to lock in a CD today. Don't delay if you're looking for the best deals -- secure your rate now before they dip.
We've rounded up the top CD rates today. Give them a look to see if any are a good fit for you.
| Bank | APY | Term | Minimum Deposit |
|---|---|---|---|
| OMB | 4.65% | 7 Months | $1,000 |
| United Fidelity Bank | 4.60% | 10 Months | $1,000 |
| T Bank | 4.60% | 6 Months | $500 |
| Brilliant Bank | 4.55% | 9 Months | $1,000 |
| T Bank | 4.50% | 12 Months | $500 |
Why we chose these CDs
- Extremely competitive rates. Some CDs have slightly higher rates, but most come with a catch.
- Low minimum deposits. Some CDs require a minimum deposit of $5,000 or more, while the CDs above let you deposit as little as $500.
- Available nationwide. Some high-yield CDs are offered by regional credit unions that not everyone can easily join. The CDs above come from banks that anyone in the U.S. can join without jumping through hoops.
- Online convenience. All the CDs on our list can be opened and managed quickly and conveniently on the bank issuer's website, from the comfort of home.
If you're looking for a solid CD from a trusted digital bank, Discover® Bank CDs are worth a look. Discover offers a much wider range of CD terms than most issuers -- from 3 months all the way up to 10 years! These CDs are available nationwide and are easy to open online -- a great pick for savers who value flexibility and a $0 minimum deposit requirement. Explore Discover CD rates here.
The Best CD Rates From Our Partners Today
Synchrony Online CD
On Synchrony Bank's Secure Website.
LendingClub CD
On LendingClub's Secure Website.
Discover® Bank CD
On Discover Bank's Secure Website.
Unlike other banking products we evaluate, certificates of deposit (CDs) do not receive a star rating from us. This approach is due to the frequent updates in interest rates and terms associated with CDs. Instead, we highlight CDs on our best-of list pages based on their annual percentage yield (APY) and the fees associated with early withdrawals. Our top CD selections typically offer competitive APYs without complex qualification tiers, low early withdrawal penalties, reliable strong brand reliability, and user-friendly features.
Motley Fool Money focuses exclusively on standard CDs and does not review IRA CDs, bump-up CDs, callable CDs, or other specialized CD accounts.
Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.
Unlike other banking products we evaluate, certificates of deposit (CDs) do not receive a star rating from us. This approach is due to the frequent updates in interest rates and terms associated with CDs. Instead, we highlight CDs on our best-of list pages based on their annual percentage yield (APY) and the fees associated with early withdrawals. Our top CD selections typically offer competitive APYs without complex qualification tiers, low early withdrawal penalties, reliable strong brand reliability, and user-friendly features.
Motley Fool Money focuses exclusively on standard CDs and does not review IRA CDs, bump-up CDs, callable CDs, or other specialized CD accounts.
Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.
Should you open a certificate of deposit?
Despite a decline since mid-2024, CD rates remain elevated now. Although the Federal Reserve has currently opted to hold the federal funds rate steady, experts widely predict that rate reductions are probable later in 2025.
Now could be a great time to lock in a CD if you want safe, guaranteed returns on your cash and you want to protect your savings from the possibility of near-term interest rate cuts.
The best CDs come with FDIC insurance, ensuring that deposits of up to $250,000 per individual, per institution, are safe in the event of bank failure. While investing in CDs carries almost no risk, alternative options -- such as the stock market -- may offer the potential for greater returns.
How to open a CD
When you're ready, you can open a CD in just a few simple steps:
- Shop around and compares rates to find the best APY for the term you want.
- Read the fine print and make sure you can meet any minimum deposit requirements.
- Apply for your new CD 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, each CD allows only one deposit. Plan your amount wisely. When you're ready, 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 4.40% APY without locking up your money
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.
If you want to earn a competitive APY without locking up your money in a CD, the Barclays Tiered Savings account is worth a look. It consistently offers one of the highest yields available at 3.90% with no account minimum required to earn. Open a Barclays Tiered Savings account here.
Our Picks for the Best High-Yield Savings Accounts of 2025
| Product | APY | Min. to Earn | |
SoFi Checking and Savings
Member FDIC.
APY
up to 3.80%
Rate info
Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Min. to earn
$0
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
up to 3.80%
Rate info
Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
|
$0
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
NexBank High-Yield Savings Account from Raisin
Member FDIC.
APY
4.31%
Min. to earn
$1
Open Account for NexBank High-Yield Savings Account from Raisin
On Raisin's Secure Website. |
4.31%
|
$1
|
Open Account for NexBank High-Yield Savings Account from Raisin
On Raisin's Secure Website. |
American Express® High Yield Savings Account
Member FDIC.
APY
3.50%
Rate info
3.50% annual percentage yield as of August 29, 2025. Terms apply.
Min. to earn
$0
Open Account for American Express® High Yield Savings Account
On American Express's Secure Website. |
3.50%
Rate info
3.50% annual percentage yield as of August 29, 2025. Terms apply.
|
$0
|
Open Account for American Express® High Yield Savings Account
On American Express's Secure Website. |
-
Sources
FAQs
-
If you want steady growth and peace of mind for your money, now is a great time to open a CD. Rates are high, offering generous returns. With the possibility of rate cuts on the horizon, now is a good time to lock in a competitive rate while they're still available.
-
Many think the Federal Reserve will cut rates this year, which could result in lower CD rates. However, if inflation climbs and the Fed raises rates instead, CD rates could increase. Rate movements aren't certain, and timing is unclear.
-
Today, CD rates can be found up to 4.65%. The highest CD rates are on short-term CDs, which includes CDs with terms of 12 months or less. Shop around and compare rates to find the most competitive rate for the term you want.
Our Research Expert
Managing editor for Motley Fool Money. James has worked full-time for The Motley Fool since 2012. A longtime editor and former reporter, James oversees the production and quality of Motley Fool Money's editorial content.