Best CD Rates Today, April 29, 2025: Up to 4.65%
KEY POINTS
- The top CD rate available today: 4.65% APY.
- If the Fed cuts rates in the coming months, CD rates will also decrease.
- High-yield savings accounts are a great alternative to safely store your savings and maximize your interest earnings.
CD rates are still holding strong, but that may change soon. With the Federal Reserve signaling potential rate cuts later this year -- possibly as early as June -- now could be a smart time to lock in a fixed return. Compared to high-yield savings accounts (HYSAs), CDs often offer higher guaranteed rates in exchange for committing your money for a set period.
The CDs featured below combine highly competitive rates, low minimum deposits (as little as $500), and nationwide availability, making them accessible to most savers without extra hurdles. Plus, every CD listed can be opened quickly online, no branch visit required.
The best CD rates today, April 29, are above 4%. Top offers include:
- OMB, 7 months: 4.65% APY
- United Fidelity Bank, 10 months: 4.60% APY
- NBKC Bank, 7 months: 4.50% APY
- T Bank, 6 months: 4.45% APY
- T Bank, 12 months: 4.40% APY
Special pick: With rate cuts on the horizon, now could be one of the last chances to lock in a yield this strong before rates start to fall. LendingClub’s 14-month CD currently offers 4.10% APY with just a $500 minimum deposit. Check out LendingClub’s 14-month CD here.
Data source: Issuing banks. Rates are accurate as of April 29, 2025.
Best CD Rates at Top Banks in April 2025
| Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
|---|---|---|---|---|
|
APY:
4.10%
|
Term:
14 Months
|
Min. Deposit:
$500
|
Open Account for
On LendingClub's Secure Website. |
|
|
APY:
4.00%
|
Term:
1 Year
|
Min. Deposit:
$0
|
Open Account for
On Discover Bank's Secure Website. |
|
|
APY:
4.00%
|
Term:
6 Months
|
Min. Deposit:
$1
|
Open Account for
On Raisin'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 CD now?
CD rates began a slight decline towards mid-2024 as the Fed reduced rates for the first time in four years. Two subsequent rate reductions followed before the year ended. Even with this drop, CDs remain a strong option. The Fed is holding rates steady now, but further cuts are likely in the second half of this year.
Here's why CDs are a good choice now:
- They provide stable and safe returns.
- They're protected by FDIC insurance up to $250,000 per depositor, per bank.
- They safeguard against future rate drops during the CD term.
While CDs offer low-risk and steady returns, those with a longer investment timeline or more risk tolerance may want to consider investing in the stock market for more growth.
How much can you earn with a CD?
The amount you can earn with a CD depends on three factors: the APY (annual percentage yield), your deposit amount, and the term length. For example, a $10,000 deposit into a 14-month CD with a 4.10% APY would earn roughly $480 in interest by the time it matures -- with no risk of losing your principal. Compare that to a traditional savings account, where rates are often much lower and can fluctuate over time. Locking in a top CD rate today, like LendingClub’s 14-month CD, can help you maximize your returns before rates drop. See LendingClub’s 14-month CD details here.
How to open a certificate of deposit
When you're ready to open a CD, just follow these easy steps:
- Pick a bank: Look up banks to see which one offers the best CD rates and terms.
- Go online: Visit the bank’s site and find the Certificate of Deposit section under personal banking.
- Choose your CD: Select the CD that fits you and start the online application for a new account.
- Fill in details: Enter your personal info and pick a way to fund your CD from your bank account.
- Check terms and apply: Read the CD terms, especially about any early withdrawal fees, then submit your application.
- Note maturity date: Mark on your calendar when your CD matures so you know when you need to either withdraw or reinvest your money.
That's all it takes!
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.
CDs vs. High-Yield Savings: Earn high interest without locking up your money
If you want to earn a high APY with more flexibility and less commitment, then look into a high-yield savings account.
- You can deposit and withdraw money whenever you want.
- You can quickly transfer money to other accounts.
- You can simply deposit cash and leave it, while CDs require some work and decision-making when they mature.
Savings account rates are variable and can change at any time. However, high-yield savings accounts currently have APYs that rival the best CDs.
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 4.00% 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
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
Min. to earn
$0
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
up to 3.80%
Rate info
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
|
$0
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
American Express® High Yield Savings Account
Member FDIC.
APY
3.60%
Rate info
3.60% annual percentage yield as of May 22, 2025. Terms apply.
Min. to earn
$0
Open Account for American Express® High Yield Savings Account
On American Express's Secure Website. |
3.60%
Rate info
3.60% annual percentage yield as of May 22, 2025. Terms apply.
|
$0
|
Open Account for American Express® High Yield Savings Account
On American Express's Secure Website. |
CIT Platinum Savings
Member FDIC.
APY
4.10% APY for balances of $5,000 or more
Rate info
4.10% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn
$100 to open account, $5,000+ for max APY
Open Account for CIT Platinum Savings
On CIT's Secure Website. |
4.10% APY for balances of $5,000 or more
Rate info
4.10% APY for balances of $5,000 or more; otherwise, 0.25% APY
|
$100 to open account, $5,000+ for max APY
|
Open Account for CIT Platinum Savings
On CIT'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.
-
Experts currently expect the Federal Reserve to cut rates later 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.
-
The biggest downside of a certificate of deposit is the lack of liquidity. When you invest in a CD, your money is locked in for a fixed term, and withdrawing it early can result in penalties or loss of interest. This means you have less flexibility to access your funds if you need them before the CD matures.
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.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page. APYs are subject to change at any time without notice.