Key Takeaways
- With the Federal Reserve holding interest rates steady right now, CD yields have mostly stabilized as well.
- But one large U.S. bank—Marcus by Goldman Sachs—has increased its rates for seven different CDs.
- That includes a new 14-month certificate that pays 4.50%, ranking it in the Top 5 nationwide rates for CDs with a term of about 1 year.
- Still, you can earn more by shopping our daily rankings of the best nationwide CD rates. In some terms, you can earn more than a half percentage point higher than Marcus’ APYs.
- Interest rates may move lower this year and next, which could mean a top CD rate locked in today will pay future dividends.
Most CD Rates Have Been Flat in 2025—But These Seven Offers Actually Pay More This Year
In a boon to savers, the Federal Reserve’s historic 2022–2023 rate-hike campaign to combat post-pandemic inflation triggered a surge in certificate of deposit (CD) rates—pushing them to 20-year highs in late 2023. The record rates reached into 5% territory for every CD term from 3 months to 5 years, and among some short-term CDs, the top rate even surpassed 6% for brief periods.
But when inflation cooled considerably in 2024, the Fed shifted to a cutting phase for the federal funds rate, with reductions in September, November, and December. Those three 2024 rate cuts nudged savings and CD rates somewhat lower.
Now, however, the Fed has shifted again, this time to a “rate pause” phase that may last several months. As a result, the best CD rates have stabilized lately.
That’s what makes the rate moves at Marcus by Goldman Sachs a nice surprise. Two weeks ago, Marcus boosted the yields on six CDs, in some cases by more than a quarter percentage point. That included small increases on two no-penalty CDs.
But now Marcus has unveiled a seventh rate increase—which may be even more appealing to some CD shoppers. As of Thursday, you can lock in 4.50% on a 14-month CD, which would guarantee your return until almost May of next year. At that rate, Marcus’ new certificate pays enough to rank it among the five best 1-year CDs in the nation.
Below you can see Marcus’ recently boosted rates, although you can find additional CD terms on its website.
No-penalty CDs may seem smart if you’re concerned about cashing out early. But you’re typically charged a steep price for that flexibility, with rates on no-penalty CDs usually quite a bit lower than what standard CDs are paying. So be sure to shop around among the best CD rates available, and carefully think through how much and how long you can commit.
The Best CD Rates Come From Smaller Institutions
If you want to lock in the highest return possible on your money, better offers continue to be available at small- to medium-sized banks and credit unions. Though it may seem safer to stick with a big brand-name bank, the truth is that your deposits at any FDIC-insured bank or NCUA-insured credit union are equally protected—covering as much as $250,000 in deposits per person, per institution. Federal coverage is identical regardless of the bank or credit union size.
CDs present an easy opportunity for stashing your cash elsewhere, given a CD’s “park it and forget it” nature. Generally, you’ll only meaningfully interact with your CD account twice: once when you open it and another time when the CD matures. While you’ll receive periodic interest credits and statements during the CD’s term, these don’t require action on your part, making it very easy to hold CDs somewhere other than your primary bank.
If you’re game to venture to an institution that’s not quite as familiar to you as the biggest U.S. banks, you’ll be rewarded. Our daily ranking of the best CD rates can lead you to at least 15 nation-leading offers—all of which pay more than those from Marcus and the other largest banks. We also publish daily term-by-term rankings (linked below the graph), featuring the following nation-leading rates.
Markets currently predict that the Fed will lower its benchmark interest rate by at least a quarter point by the end of 2025, and possibly more. That means the rates on high-yield savings accounts and CDs down the road are expected to be lower than they are now. Locking in one of today’s top CD rates means you’ll be guaranteed your high return for the duration of the CD.
Daily Rankings of the Best CDs and Savings Accounts
How We Find the Best Savings and CD Rates
Every business day, Investopedia tracks the rate data of more than 200 banks and credit unions that offer CDs and savings accounts to customers nationwide and determines daily rankings of the top-paying accounts. To qualify for our lists, the institution must be federally insured (FDIC for banks, NCUA for credit unions), and the account’s minimum initial deposit must not exceed $25,000. It also cannot specify a maximum deposit amount that’s below $5,000.
Banks must be available in at least 40 states to qualify as nationally available. And while some credit unions require you to donate to a specific charity or association to become a member if you don’t meet other eligibility criteria (e.g., you don’t live in a certain area or work in a certain kind of job), we exclude credit unions whose donation requirement is $40 or more. For more about how we choose the best rates, read our full methodology.