Best CD Rates Today, May 28, 2025: Up to 4.55% APY
KEY POINTS
- The leading CD rate available now: 4.55% for a 6-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.
If you want a safe, reliable way to grow your money, a certificate of deposit (CD) is a solid option -- especially right now. Top banks are offering standout rates, including a 4.55% APY on a 6-month CD and other strong choices around 4.50% for terms between six and 10 months.
These high yields may not stick around much longer, as the Federal Reserve is expected to start cutting rates later this year. Opening a CD today lets you lock in one of these top rates before they begin to fall.
Here are some of the best CD rates available right now.
- United Fidelity Bank, 6 months: 4.55% APY
- United Fidelity Bank, 10 months: 4.50% APY
- OMB, 9 months: 4.50% APY
- Presidential Bank, 7 months: 4.50% APY
- SouthEast Bank, 6 months: 4.50% APY
- ableBanking, 6 months: 4.50% APY
Special pick: Now could be one of the last chances to lock in a yield this high before rates start to fall. LendingClub's 14-month CD currently offers 4.25% APY with just a $500 minimum deposit. Check out LendingClub's 14-month CD here.
Data source: Issuing banks. Rates are accurate as of May 27, 2025.
Best CD Rates at Top Banks in May 2025
LendingClub CD
On LendingClub's Secure Website.
Discover® Bank CD
On Discover Bank's Secure Website.
Western Alliance Bank CD
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?
Looking for a safe and steady way to grow your savings? Now might be the right time to open a CD. With interest rate cuts likely to be announced later this year, some banks have already started lowering their best CD rates. It could be wise to lock in a CD now while rates remain high.
CDs are a low-risk investment choice. With a CD, you'll get predictable returns and FDIC insurance up to $250,000 per person, per bank. They're ideal if you prioritize stability over risk. If you're chasing higher long-term returns and can handle market ups and downs, however, then the stock market may be a better fit.
How $10,000 in a CD could earn you $480
Your potential return on a CD depends on three factors: the APY, 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 virtually 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, you can open a CD in just a few simple steps:
- Compare CD rates and terms. Look at different banks to find the best APY and term length that fits your goals. Online banks often offer higher rates than traditional banks.
- Decide how much to deposit. Choose an amount you won't need during the CD's term, since early withdrawals usually trigger penalties.
- Open the account. You can usually open a CD online or at a bank branch. You'll need to provide basic information like your ID and bank account details.
- Fund the CD. Transfer money from your checking or savings account into the CD. The term and interest rate are locked in once it's funded.
- Mark the maturity date. Keep track of when your CD matures so you can decide whether to withdraw your money or roll it into a new CD at that time.
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. HYSAs: Earn a high APY without locking up your cash
If you're after strong returns but want easy access to your money, a high-yield savings account could be a better fit than a CD. Here's why:
- No long-term commitment: You can add or withdraw funds anytime without penalties.
- Easy access: Transfers to and from other accounts are quick and simple.
- Low maintenance: Just deposit your money and let it grow -- no decisions needed when the term ends like with a CD.
- Rate flexibility: HYSA rates can go up or down, but many currently offer APYs that compete with top CDs.
In short, you don't have to lock up your cash to earn a great return.
One standout right now is SoFi Checking and Savings (Member FDIC). This top-rated account offers up to 3.80% annual percentage yield (APY) on savings with qualifying direct deposits. Even better: New customers can earn up to a $300 bonus with qualifying direct deposits! It's an easy way to boost your savings without locking up your cash. Click here to learn more.
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 29, 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 29, 2025. Terms apply.
|
$0
|
Open Account for American Express® High Yield Savings Account
On American Express's Secure Website. |
Western Alliance Bank High-Yield Savings Premier
Member FDIC.
APY
4.30%
Rate info
The annual percentage yield (APY) is accurate as of May 2, 2025 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Min. to earn
$500 to open, $0.01 for max APY
Open Account for Western Alliance Bank High-Yield Savings Premier
On Western Alliance Bank's Secure Website. |
4.30%
Rate info
The annual percentage yield (APY) is accurate as of May 2, 2025 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
|
$500 to open, $0.01 for max APY
|
Open Account for Western Alliance Bank High-Yield Savings Premier
On Western Alliance Bank's Secure Website. |
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Sources
- https://www.unitedfidelity.com/high-yield-certificates-of-deposit/
- https://www.ombbank.com/personal-banking/personal-savings/certificates-of-deposit/9-month-cd-special
- https://www.presidential.com/personal/banking/cds
- https://www.southeastbank.com/personal-banking/bank-accounts/bank-cds/
- https://www.ablebanking.com/cds
FAQs
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Yes, but it usually comes with a penalty. If you take money out before the CD matures, you'll likely lose some or all of the interest you've earned -- sometimes even a bit of your original deposit, depending on the bank's rules.
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When a CD reaches its maturity date, you'll have a short window -- usually seven to 10 days -- to withdraw your money or move it into a new CD. If you don't take action, the bank may automatically roll it into a new CD, often at a different rate or term.
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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 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.