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Today, leading CD rates range from approximately 4.50% to 4.65%, with the most attractive offerings coming from short-term CDs, which typically have terms of a year or less.

Looking for a secure place to grow your savings? See our expert picks for the best FDIC-insured high-yield savings accounts available today – enjoy peace of mind with competitive rates.

Following the Federal Reserve’s recent decision to keep interest rates unchanged, CD rates are expected to remain favorable for the foreseeable future. Consequently, this creates an ideal opportunity to lock in a CD while rates are still high.

Below, we present a list of the best CD rates available today.

Why we picked these CDs

Our selection of CDs above all meet the following criteria:

• Extremely competitive rates. Some CDs have slightly higher rates, but most come with a catch.
• Low minimum deposits. Some CDs require a minimum deposit of $5,000 or more, while the CDs above let you deposit as little as $500.
• Available nationwide. Some high-yield CDs are offered by regional credit unions that not everyone can easily join. The CDs above come from banks that anyone in the U.S. can join without jumping through hoops.
• Online convenience. All the CDs on our list can be opened quickly and conveniently on the bank issuer’s website, right from the comfort of home.

Want to find the best CD for your timeline and goals? Explore top rates by term:

• Best CD Rates — Our expert picks for the top accounts available today
• Best 6-Month CD Rates — Short-term savings with fast access
• Best 12-Month CD Rates — Solid returns with just a 1-year commitment
• Best 5-Year CD Rates — Maximize earnings over the long haul

Should you open a CD?

Despite a decline since mid-2024, CD rates remain elevated. Although the Federal Reserve has currently opted to hold the federal funds rate steady, experts widely predict that rate reductions are probable later in 2025.

Now could be a great time to lock in a CD if you want safe, guaranteed returns on your cash and you want to protect your savings from the possibility of near-term interest rate cuts.

The best CDs come with FDIC insurance, ensuring that deposits of up to $250,000 per individual, per institution, are safe in the event of bank failure. While investing in CDs carries almost no risk, alternative options — such as the stock market — may offer the potential for greater returns.

How to get started with a CD

When you decide to open a CD, the procedure is relatively straightforward:

1. Begin by exploring various financial institutions to locate the highest annual percentage yield (APY) for your preferred term.
2. Be sure to examine the details carefully to verify that any minimum deposit requirements can be met, and understand any penalties for early withdrawals.
3. You can apply for a new account through the bank’s website, mobile app, or via phone. Approval is typically swift, allowing you to start your investment almost immediately.
4. Connect your existing bank account to transfer funds into your new CD. Keep in mind that you are limited to a single deposit per CD, so be prepared to transfer your entire investment at once.

Click here to explore the best CD rates and open a high-yield CD today.

Once you’ve opened your CD, keep an eye on its maturity date. When a CD matures, the bank will typically do one of two things unless you say otherwise:

1. Pay out your initial deposit plus your earnings as cash
2. Reinvest your funds in a new CD with the same term (but potentially a different APY)

Most banks give you a grace period of seven to 10 days after the CD’s maturity date to make a decision.

Earn up to 4.10% APY without locking up your cash

If you want to earn a high APY with more flexibility and less commitment, look into a high-yield savings account.

High-yield savings accounts allow you to:

• Deposit and withdraw money whenever you want.
• Transfer money to other accounts quickly and easily.
• Simply deposit cash and leave it as long as you’d like.

Savings accounts are variable-rate accounts, meaning you don’t get the rate guarantee that you do with a CD. But right now, high-yield savings account rates are nearly on par with the best CD rates, making either one a great choice, depending on your specific needs.

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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. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.James McClenathen has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group. The Motley Fool has a disclosure policy.

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