Best CD Rates Today, April 21, 2025: Up to 4.65%

CD rates are uber-competitive right now for six to 12-month terms, offering returns between 4.50% and 4.65%.

With potential Fed rate cuts looming, locking in a CD now could be a great choice. Act fast to grab the best rates before they drop.

Check out our compilation of today's top CD rates.

Why we picked these CDs

The CDs in our list above offer extremely competitive rates with APYs among the highest we found. They have low minimum deposits, allowing you to start with as little as $500, unlike some CDs that require a minimum deposit of $5,000 or more.

Additionally, these CDs are available nationwide and are offered by banks that anyone in the U.S. can join without dealing with the membership requirements a lot of credit unions impose. One final perk: Each of these CDs can be easily opened online, directly from the bank issuer's website. It's never been quicker to get started.

Should you open a CD now?

CD rates are still historically high, though they've dropped since mid-2024. The Federal Reserve is holding rates steady for now, but experts agree that rate cuts are likely later in 2025.

Now could be a great time to lock in a CD if:

• You want safe, guaranteed returns on your cash
• You want to protect your savings from near-term interest rate cuts
• You have cash that you can leave untouched for the full CD term

The best CDs are covered by FDIC insurance, so deposits up to $250,000 per person are safe. There's virtually zero risk in CD investing, though you may be able to earn higher returns elsewhere, like the stock market.

How to open a certificate of deposit

When you're ready, you can open a CD right from the comfort of home. Here's how:

1. Do your research and choose a bank: Begin by researching different banks and financial institutions to compare available CD rates and terms to find the best rate for your savings timeline.
2. Visit the website and find CDs: Go to the official website of your chosen bank and navigate to their Certificates of Deposit section, which might be listed under personal banking or investment products.
3. Select your CD and begin application: Look through the available CD options and choose the one that suits your preferences. Start the online application by clicking the option to open a new CD account.
4. Enter personal information and funding details: Provide the required personal information, such as your name, address, and Social Security number. Select a funding source to transfer money from an existing bank account.
5. Review CD terms and submit your application: Carefully read the terms and conditions of the CD, paying attention to any early withdrawal penalties, before agreeing to them. Then, submit your completed application.
6. Make note of when your CD matures: Most banks provide a grace period of anywhere from seven to 10 days after the CD's maturity date for you to either withdraw your initial deposit plus interest or reinvest in a new CD. It's a good idea to have this date marked on a calendar and a plan in mind for what you will do with your funds at the end of the CD term.

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.

Earn up to 4.40% APY without restricting access to your funds

The best high-yield savings accounts offer more flexibility, less commitment, and allow you to:

• Deposit and withdraw money whenever you want.
• Quickly transfer money to other accounts.
• Leave your cash on deposit as long (or not) as you want.

Savings accounts have variable rates, however, meaning banks can raise or lower your APY at their discretion. High-yield savings accounts currently have APYs that rival the best CDs, so you won't give up much in interest earnings to retain the flexibility that a savings account provides.