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As experts largely predicted, the Federal Reserve decided to hold the federal funds rate steady at the conclusion of its March meeting yesterday afternoon. As such, CD rates should remain at their currently-elevated levels, at least until after the next Fed meeting, where the board will again have the chance to decrease (or increase) rates. The Federal Reserve meets next on May 6.
Currently, the most competitive CDs are offering annual percentage yields (APYs) ranging from 4.50% to 4.65%. These attractive rates are typically available on CDs with terms of up to a year. The relatively short commitment period makes these CDs an appealing choice for investors who aren't comfortable locking up their money for the longer term.
Below is a selection of some of the highest CD rates available today, hand-picked by our experts.
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 |
One American Bank | 4.52% | 6 months | $500 |
With the vast number of CDs out there, you might be wondering what caught our eye about the selection above. Each of the CDs on our list meet the following criteria:
On Synchrony Bank's Secure Website.
On LendingClub's Secure Website.
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.
If any of the following scenarios apply to you, it could be a great time to open a CD:
Top-rated CDs come equipped with FDIC insurance, providing protection for deposits up to $250,000 per individual, per bank, in the event of a bank failure. While CD investments involve very little risk, you might find higher returns in alternative investments, like the stock market.
If you want to earn a high APY without committing your funds for three months or more, check out our list of the best high-yield savings accounts.
When you're ready, you can open a CD right from the comfort of home. Here's how:
Click here to explore the best CD rates and open a high-yield CD today.
Top high-yield savings accounts offer greater flexibility and reduced commitment, allowing you to deposit and withdraw funds whenever necessary and swiftly transfer money to different accounts.
Unlike CDs, savings accounts have variable interest rates, permitting banks to adjust your APY at their discretion. Despite this, the APYs of high-yield savings accounts currently rival the best CD rates, so depending on your financial circumstances and personal preference, either option could be a great choice now.
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
Account | APY | Promotion | Next Steps |
---|---|---|---|
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Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
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 and enroll in SoFi Plus by 9/3/25. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
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
|
Earn up to $300 bonus with direct deposit. Plus, new customers earn an extra 0.70% APY on savings for up to 6 months with direct deposit (terms apply) -- that equals up to 4.50% APY!
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 and enroll in SoFi Plus by 9/3/25. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
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Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
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Open Account for American Express® High Yield Savings Account
On American Express's Secure Website.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
3.50%
Rate info
3.50% annual percentage yield as of August 28, 2025. Terms apply.
Min. to earn: $0
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N/A
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Open Account for American Express® High Yield Savings Account
On American Express's Secure Website. |
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Open Account for Barclays Tiered Savings
On Barclays' Secure Website.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
3.90%
Rate info
Balances less than $250,000 earn 3.90%, and balances greater than $250,000 earn 4.10%.
Min. to earn: $0
|
N/A
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Open Account for Barclays Tiered Savings
On Barclays' Secure Website. |
Annual Percentage Yield (APY) is subject to change at any time without notice. Offer applies to personal non-IRA accounts only. Fees may reduce earnings. For CD accounts, a penalty may be imposed for early withdrawals. After maturity, if your CD rolls over, you will earn the offered rate of interest in effect at that time. Visit synchrony.com/banking for current rates, terms and account requirements. Member FDIC.