Most CD Rates Are Down in 2025—But These Eight Pay More Today Than Yesterday

Thanks to the Federal Reserve’s historic 2022–2023 rate-hike campaign to combat post-pandemic inflation, certificate of deposit (CD) rates surged to 20-year highs in late 2023—reaching 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. These three rate cuts—which have so far lowered the Fed’s benchmark rate a full percentage point—have nudged savings and CD rates somewhat lower over the last few months.

That’s what makes today’s new rates from Marcus by Goldman Sachs and Synchrony such welcome news, especially if you’re already a customer of one of those banks. At Marcus, rates were boosted 10 to 15 basis points across seven different CD terms, from 9 months up to 6 years (although Marcus declined to raise its 12-month rate).

Meanwhile, Synchrony Bank’s rate improvement was much more targeted, raising the APY of only its 13-month CD: from 4.25% yesterday to 4.35% today.

The Best Rates Still Come From Smaller Players

For anyone wanting to lock in the highest rate possible, better offers continue to be available at smaller banks and credit unions. Though it may seem safer to stick with a 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 doesn’t vary based on bank or credit union size.

CDs also present an ideal opportunity for stashing your cash elsewhere, given a CD’s “park it and forget it” nature. Generally, you’ll meaningfully interact with your CD account just 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 willing to venture to an institution that may not be quite as familiar to you as the biggest U.S. banks, our daily ranking of the best CD rates can lead you to at least 15 nation-leading offers—all of which pay more than today’s new rates from Marcus and Synchrony. We also publish daily term-by-term rankings (linked below the graph), featuring the following nation-leading rates.

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.