If you’re looking to maximize your savings with a high Certificate of Deposit (CD) rate, now may be the ideal time to act. The Federal Reserve has reduced its federal funds rate multiple times in 2024 and recently announced another cut for 2025. With rates potentially falling further, locking in a competitive CD rate could be your best bet to grow your savings.
Your search for the highest CD rates available today reveals a landscape where rates differ significantly across banks and credit unions. Therefore, it’s crucial to diligently compare offers to secure the best rate possible.
Typically, today’s most attractive CD rates are found in shorter-term products, especially those spanning one year or less. Online banks and credit unions frequently lead the way in offering these top-tier rates.
As of September 27, 2025, LendingClub boasts the highest CD rate at an impressive 4.45% APY on its 8-month CD.
Here are some of the best CD rates that you can take advantage of right now:
The interest accrued on a CD is primarily influenced by the annual percentage rate (APY), which reflects your total earnings within a year, accounting for both the base interest rate and the frequency of interest compounding (usually daily or monthly with CDs).
For instance, if you invest $1,000 in a one-year CD with a 1.70% APY that compounds monthly, your investment would grow to $1,017.13 at the end of the year—your principal plus $17.13 in interest.
In contrast, if you were to choose a one-year CD with a 4% APY, your balance would rise to $1,040.74 over the same period, yielding $40.74 in interest.
Moreover, the greater your deposit into a CD, the more substantial your earnings can become. For instance, if you opted for the one-year CD at 4% APY and deposited $10,000 instead, your balance upon maturity would total $10,407.42, translating to $407.42 in interest earned.
Explore more: What constitutes a good CD rate?
While the interest rate is an essential factor when selecting a CD, it’s not the only consideration worth noting. Various types of CDs can offer unique benefits—even if it means settling for a slightly lower interest rate. Here are some prominent types of CDs to consider, aside from the standard option:
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Bump-up CD: This CD allows you to request a higher rate if your bank increases its rates during the term of your account. Typically, you are only permitted to make this adjustment once.
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No-penalty CD: Also referred to as a liquid CD, this variety allows you to access your funds before maturity without incurring any penalties.
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Jumbo CD: These CDs necessitate a higher minimum deposit—often $100,000 or more—while typically offering a higher interest rate in return. However, in today’s rate climate, the disparity in rates between traditional and jumbo CDs may not be significant.
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Brokered CD: These CDs are acquired through a brokerage rather than directly from a bank, sometimes providing higher rates or more favorable terms but potentially carrying risk and the possibility of being uninsured by the FDIC.
