If you’re thinking now might be a good time to open a certificate of deposit (CD), you’re in luck. Some of the best CD rates today go as high as 4.20% APY — nearly triple the national average for most terms. According to the FDIC, the average 12-month CD pays just 1.70%, and even five-year CDs are hovering around 1.34%.
To help you earn more, we rounded up the best CDs in October 2025 from Capital One, Discover, Navy Federal, and more.
Table of Contents
- What is the best CD rate right now?
- Best CDs to consider
- 1. Ally Bank High Yield CDs — Great for no-minimum CDs
- 2. Marcus by Goldman Sachs High Yield CDs – Great for 5-year CDs
- 3. Capital One 360 CDs – Great for withdrawing interest before maturity
- 4. Discover Bank CDs – Great for long-term CDs
- 5. Synchrony Bank CDs – Great for high-yield CDs
- 6. Barclays Online CDs – Great for seniors
- 7. CIT Bank No-Penalty CDs – Great for no penalties
- 8. Bread Savings CDs – Great for 6-month CDs
- 9. Bask Bank CDs – Great for short-term CDs
- 10. First Internet Bank CDs – Great for businesses
- 11. Connexus Credit Union Certificates – Great for jumbo CDs
- 12. Alliant Credit Union Certificates – Great credit union CDs
- 13. Navy Federal Credit Union Certificates – Great for military families
- How do CDs work?
- How much will I earn in a CD?
- Who should open a CD?
- How to choose the best CD
- 5 types of CDs to look for
- Are CDs safe in 2025?
- Can you lose money in a CD?
- Are CDs worth it right now?
What is the best CD rate right now?
The highest CD interest rate available today is 4.20% APY on a six-month CD from Bread Savings. But the best CD for you depends on how long you can leave your money untouched and whether you want flexibility, like no penalties or low minimums.
Here are a few top picks by term:
- Highest overall APY: 4.20% from Bread Savings (6-month CD)
- Best 12-month CD rate: 4.15% from Alliant and Navy Federal (Special CDs)
- Best 5-year CD rate: 3.90% from Marcus by Goldman Sachs
You can explore more top rates in the table above.
Best CDs to consider
1. Ally Bank High Yield CDs
Great for No-Minimum CDs
Why it stands out
- No minimum to open or earn APY
- Also has no-penalty and raise-your-rate CDs
- 10-Day Rate Guarantee
- Excellent app and customer service
- No partial withdrawals allowed
| APY | 3.00% – 3.90% |
| Terms | 3, 6, 9, 12, 18, 36, 60 months |
| Minimum deposit | $0 |
| Early withdrawal penalty | 30 – 150 days of interest |
| Insurance | FDIC insured |
I’ve been using Ally for more than a decade, and it’s still the first place I look anytime I need a new banking product. There are no hidden fees, the rates are consistently among the best, and the customer service actually feels human.
You can open a CD with as little as $1, and Ally’s 10-Day Best Rate Guarantee means if rates go up right after you open, you’ll automatically get the higher one.
Current CD rates
| Term | APY |
| 3 months | 3.00% |
| 6 months | 3.90% |
| 9 months | 3.90% |
| 12 months | 3.85% |
| 18 months | 3.65% |
| 36 months | 3.50% |
| 60 months | 3.50% |
2. Marcus by Goldman Sachs High Yield CDs
Great for 5-Year CDs
Why it stands out
- 10-Day Rate Guarantee
- Can add funds for 30 days after opening
- Option to transfer earned interest penalty-free to a linked account
- Also offers No-Penalty and Rate Bump CDs
- $500 minimum deposit
| APY | 3.85% – 4.10% |
| Terms | 6, 9, 12, 14, 18, 24, 36, 48, 60, 72 months |
| Minimum deposit | $500 |
| Early withdrawal penalty | 90 – 270 days of interest |
| Insurance | FDIC insured |
Marcus by Goldman Sachs quietly does plenty that we like. Its five-year High Yield CD rate is one of the best out there, and all of its CDs come with extra perks that feel quite rare. For example, you can keep adding money to your CD for 30 days after opening (even multiple times!), transfer interest to another account anytime (even before your CD matures), and still know your rate is locked in.
Current CD rates
| Term | APY |
| 6 months | 4.05% |
| 9 months | 4.00% |
| 12 months | 4.00% |
| 14 months | 4.10% |
| 18 months | 4.00% |
| 24 months | 3.95% |
| 36 months | 3.90% |
| 48 months | 3.85% |
| 60 months | 3.90% |
| 72 months | 3.90% |
3. Capital One 360 CDs
Great for Withdrawing Interest Early
Why it stands out
- No minimum deposit to open
- Option to withdraw interest monthly, annually, or at maturity
- Some branch and Capital One Café access for in-person support
- You can’t make partial withdrawals before maturity
| APY | 3.50% – 4.00% |
| Terms | 6, 9, 12, 18, 24, 30, 36, 48, 60 months |
| Minimum deposit | $0 |
| Early withdrawal penalty | 3 – 6 months of interest |
| Insurance | FDIC insured |
With most CDs, your full balance is locked up tight until maturity, but Capital One 360 CDs give you more wiggle room. You can withdraw the interest you earn monthly, annually, or at maturity, depending on what works for you. So if you want to lock in one of the highest CD interest rates while still having access to a little cash along the way, it’s a great option.
Current CD rates
| Term | APY |
| 6 months | 3.50% |
| 9 months | 3.50% |
| 12 months | 4.00% |
| 18 months | 3.80% |
| 24 months | 3.60% |
| 30 months | 3.60% |
| 36 months | 3.60% |
| 48 months | 3.60% |
| 60 months | 3.60% |
4. Discover Bank CD
Great for Long-Term CDs
Why it stands out
- No minimum deposit required to open
- Has CD terms from 3 months to 10 years
- Strong APYs on all term lengths
- No no-penalty or rate-bump CD options
| APY | 2.00% – 4.00% |
| Terms | 3, 6, 9, 12, 18, 24, 30, 36, 48, 60, 84, 120 months |
| Minimum deposit | $0 |
| Early withdrawal penalty | 3 – 34 months of simple interest |
| Insurance | FDIC insured |
Discover is one of the few banks still offering high-yield CD rates for seven- and 10-year terms. You don’t need a huge upfront deposit (literally any amount will do), and the daily compounding helps you get the most from your long-term savings.
Current CD rates
| Term | APY |
| 3 months | 2.00% |
| 6 months | 3.50% |
| 9 months | 3.50% |
| 12 months | 4.00% |
| 18 months | 3.80% |
| 24 months | 3.60% |
| 30 months | 3.60% |
| 36 months | 3.60% |
| 48 months | 3.60% |
| 60 months | 3.60% |
| 84 months | 3.50% |
| 120 months | 3.50% |
5. Synchrony Bank CDs
Great for High-Yield CDs
Why it stands out
- No minimum deposit required
- Can withdraw earned interest any time without penalty
- IRA CDs and bump-up CDs are also available
- A few CD rates are subpar
| APY | 0.25% – 4.10% |
| Terms | 3, 6, 9, 11, 12, 13, 14, 15, 18, 19, 24, 36, 48, 60 months |
| Minimum deposit | $0 |
| Early withdrawal penalty | 90 – 365 days of interest |
| Insurance | FDIC insured |
Synchrony stands out for its wide range of high-yield CDs, including several short and mid-length terms that go well beyond the usual six, 12, or 24 months. Most of the rates are excellent, though a few outliers trail behind (like the three- and 11-month terms). It’s also one of the few banks offering competitive yields on IRA CDs.
Current CD rates
| Term | APY |
| 3 months | 0.25% |
| 6 months | 4.10% |
| 9 months | 4.00% |
| 11 months (No-penalty CD) | 0.25% |
| 12 months | 4.00% |
| 13 months | 3.85% |
| 14 months | 3.85% |
| 15 months | 4.05% |
| 16 months | 3.85% |
| 18 months | 3.80% |
| 19 months | 3.80% |
| 24 months | 3.50% |
| 24 months (Bump-up CD) | 2.80% |
| 36 months | 3.75% |
| 48 months | 3.50% |
| 60 months | 4.00% |
6. Barclays Online CDs
Great for Seniors
Why it stands out
- No minimum deposit requirements
- Special AARP Select CDs available for members
- Consistently good APYs across all terms
- No no-penalty or bump-up CD options
| APY | 3.00% – 4.15% |
| Terms | 6, 9, 12, 18, 24, 36, 48, 60 months |
| Minimum deposit | $0 |
| Early withdrawal penalty | 90 – 180 days of simple interest |
| Insurance | FDIC insured |
Barclays is a trusted name in the banking space, and it’s one of the only banks offering exclusive CD rates for AARP members. So if you’re a senior with a membership, it could be the best CD for you. Even if you’re not an AARP member, Barclays’ regular CD rates are still competitive, and there’s no minimum deposit required.
Current CD rates
| Term | APY |
| 6 months | 3.80% |
| 9 months | 4.00% (AARP Select: 4.15%) |
| 12 months | 4.00% |
| 18 months | 3.00% |
| 24 months | 3.00% (AARP Select: 3.50%) |
| 36 months | 3.00% |
| 48 months | 3.00% |
| 60 months | 3.25% |
7. CIT Bank CDs
Great for No Penalties
Why it stands out
- No-penalty CD lets you withdraw early without fees
- Also has jumbo CDs
- Decent APY on a few CD terms
- Most of its CD rates are low compared to competitors
- $1,000 minimum deposit required
| APY | 0.30% – 3.35% |
| Terms | 6, 11, 12, 13, 18, 24, 36, 48, 60 months |
| Minimum deposit | $1,000 |
| Early withdrawal penalty | 3 – 12 months of simple interest (none for no-penalty CDs) |
| Insurance | FDIC insured |
CIT Bank’s 11-month No-Penalty CD is one of the few that actually offers a decent rate and lets you pull your money out early without paying a fee. You’ll still need to lock up at least $1,000, but you can access your full balance (plus interest) after just seven days. Most of CIT’s other CD rates fall flat, so if you’re considering this bank, the no-penalty option is really the one to go for.
Current CD rates
| Term | APY |
| 6 months | 2.85% |
| 11 months (No-penalty CD) | 3.35% |
| 12 months | 0.30% |
| 13 months | 3.35% |
| 18 months | 2.85% |
| 24 months | 0.40% |
| 36 months | 0.40% |
| 48 months | 0.50% |
| 60 months | 0.50% |
8. Bread Savings CDs
Great for 6-Month CDs
Why it stands out
- Has consistently high APYs across all CDs
- Also has IRA CDs with rates up to 4.20%
- $1,500 minimum deposit required
| APY | 3.75% – 4.20% |
| Terms | 3, 6, 9, 12, 18, 24, 36, 48, 60 months |
| Minimum deposit | $1,500 |
| Early withdrawal penalty | 90 – 365 days of simple interest |
| Insurance | FDIC insured |
Bread Financial is an online banking arm of Comenity Bank. And if you’re looking for a short-term CD with a solid return, Bread Savings has one of the highest APYs we’ve seen on a 6-month CD (currently 4.20%). That’s a competitive rate for money you only need to park for a little while. But you’ll need at least $1,500 to open an account.
Current CD rates
| Term | APY |
| 3 months | 3.80% |
| 6 months | 4.20% |
| 9 months | 3.80% |
| 12 months | 3.75% |
| 18 months | 3.75% |
| 24 months | 3.75% |
| 48 months | 3.75% |
| 60 months | 3.75% |
9. Bask Bank CDs
Great for Short-Term CDs
Why it stands out
- Consistently high CD rates across all terms
- Takes 15 minutes to open an account online
- Best CD rates are on short terms
- Fewer term options than other banks
- $1,000 minimum opening deposit required
| APY | 3.75% – 4.10% |
| Terms | 3, 6, 9, 12, 18, 24 months |
| Minimum deposit | $1,000 |
| Early withdrawal penalty | 30 – 180 days of interest |
| Insurance | FDIC insured |
Bask Bank’s CDs are competitive across all terms, but its short-term rates are where it shines. You can earn at least 4.05% on a three-month, six-month, and nine-month CD. So if you’re not quite sure when you’ll need your money but want to take advantage of locking in a higher rate right now, these short-term options could be a good choice.
Current CD rates
| Term | APY |
| 6 months | 4.10% |
| 9 months | 4.05% |
| 12 months | 4.05% |
| 18 months | 3.85% |
| 24 months | 3.75% |
10. First Internet Bank CDs
Great for Businesses
Why it stands out
- Offers business CDs with strong rates
- Flexible term options from 3 months to 5 years
- Steep penalties for early withdrawals on longer terms
- $1,000 minimum deposit required
| APY | 3.40% – 4.02% |
| Terms | 3, 6, 12, 18, 24, 36, 48, 60 months |
| Minimum deposit | $1,000 |
| Early withdrawal penalty | 90 – 360 days of interest |
| Insurance | FDIC insured |
First Internet Bank is one of the few online banks that offers CDs specifically for business owners (with competitive rates to match!). Its six-month CD currently earns 4.02% APY, and you can open one with as little as $1,000.
Current CD rates
| Term | APY |
| 3 months | 3.40% |
| 6 months | 4.02% |
| 12 months | 3.93% |
| 18 months | 3.64% |
| 24 months | 3.56% |
| 36 months | 3.61% |
| 48 months | 3.56% |
| 60 months | 3.56% |
11. Connexus Credit Union Certificates
Great for Jumbo CDs
Why it stands out
- Offers multiple CD types
- Credit union membership is open to almost anyone
- $5,000 minimum deposit required for standard certificates
- Must join credit union before opening
| APY | 2.10% – 4.10% |
| Terms | 12, 36, 24, 48, 60 months |
| Minimum deposit | $5,000 (Jumbo: $100,000) |
| Early withdrawal penalty | 90 – 365 days of dividends |
| Insurance | NCUA insured |
If you’re stashing six figures in a CD, Connexus Credit Union is worth a look. Its Jumbo Certificates offer a slightly higher APY (up to 4.10%) for balances of $100,000 or more. Even if you’re not a member yet, you can join during the application process. Connexus also offers standard and bump-up certificates.
Current CD rates
| Term | APY |
| 12 months | 2.00% (Jumbo Certificate: 2.10%) |
| 24 months | 4.00% (Jumbo & Bump-Up Certificate: 4.10%) |
| 36 months | 2.00% (Jumbo Certificate: 2.10%) |
| 48 months | 2.00% (Jumbo Certificate: 2.10%) |
| 60 months | 2.00% (Jumbo Certificate: 2.10%) |
12. Alliant Credit Union Certificates
Great Credit Union CDs
Why it stands out
- Has jumbo, IRA, and SEP IRA CD options
- Jumbo CD rates start at $75,000
- Competitive rates across most terms
- Jumbo rates only slightly higher than standard rates
- Must join the credit union to open an account
| APY | 3.10% – 4.15% |
| Terms | 3, 6, 12, 18, 24, 36, 48, 60 months |
| Minimum deposit | $1,000 (Jumbo: $75,000) |
| Early withdrawal penalty | 90 – 180 days of interest |
| Insurance | NCUA insured |
Alliant is one of the most accessible credit unions out there, and its certificates are just as competitive as what you’ll find at top online banks. Alliant also has jumbo, traditional IRA, Roth IRA, and SEP IRA Certificates if you’re looking to lock in a high rate for your retirement savings.
Current CD rates
| Term | APY |
| 3 months | 3.10% |
| 6 months | 4.10% |
| 12 months | 4.10% (Jumbo Certificate: 4.15%) |
| 18 months | 3.60% (Jumbo Certificate: 3.65%) |
| 24 months | 3.60% (Jumbo Certificate: 3.70%) |
| 36 months | 3.60% (Jumbo Certificate: 3.70%) |
| 48 months | 3.65% ( Jumbo Certificate:3.70%) |
| 60 months | 3.65% (Jumbo Certificate: 3.70%) |
13. Navy Federal Credit Union Certificates
Great for Military Families
Why it stands out
- Exclusive rates for military members and families
- Low $50 minimum on several certificates
- Flexible options: standard, EasyStart, Special EasyStart, IRA, and ESA certificates
- Membership limited to military-affiliated individuals and their families
- Some CD rates lag behind competitors
| APY | 1.50% – 4.15% |
| Terms | 3, 10, 12, 18, 24, 36, 60, 84 months |
| Minimum deposit | $50 |
| Early withdrawal penalty | 90 – 365 days of interest |
| Insurance | NCUA insured |
Navy Federal offers one of the most rewarding CD lineups for military members and their families. With a low $50 minimum, the EasyStart and Special EasyStart certificates make it easy to start saving.
You can also choose from standard Share Certificates, long-term options, and IRA and ESA certificates, most with competitive APYs. As a bonus, select certificates allow you to add funds over time, which isn’t something you’ll find at most banks.
Current CD rates
| Term | APY |
| 3 months | 1.45% – 1.50% |
| 10 months (Special Certificate) | 4.15% |
| 12 months (Standard CD) | 3.85% – 3.90% |
| 12 months (EasyStart CD) | 3.80% |
| 12 months (Special EasyStart CD) | 4.15% |
| 18 months (Standard CD) | 3.75% – 3.80% |
| 18 months (EasyStart CD) | 3.70% |
| 24 months (Standard CD) | 3.55% – 3.60% |
| 24 months (EasyStart CD) | 3.50% |
| 36 months | 3.70% – 3.75% |
| 60 months | 3.50% – 3.55% |
| 84 months | 3.50% – 3.55% |
How do CDs work?
A certificate of deposit is essentially a locked-down savings account. You agree to keep your money “locked” in the account for a set amount of time (called the “term”), and in exchange, the bank pays you a fixed interest rate that won’t change. If you need your money before the term is up, you pay an early withdrawal penalty.
CDs can be a great way to earn extra interest on cash that you don’t need for a specific time frame. If you need quick access to cash (e.g., emergency funds and sinking funds), a high-yield savings account is a better option.
If you have a large emergency fund (12 or more months), you could consider putting a portion of that amount into a CD if there’s an opportunity to earn a higher interest rate.
How much will I earn in a CD?
You can plug in your numbers into a CD calculator to see exactly what you’ll earn. But generally, the higher the APY and the longer the term, the more you’ll earn.
Here’s how the numbers break down with a few sample scenarios:
| Deposit | Term | Rate | Total earnings |
| $10,000 | 12 months | 1.70% (FDIC average) | ~$171 |
| $10,000 | 12 months | 4.15% (one of the best CD rates in our list) | ~$424 |
| $10,000 | 60 months | 1.34% (FDIC average) | ~$693 |
| $10,000 | 60 months | 4.00% (one of the best CD rates in our list) | ~$2,214 |
Who should open a CD?
You might consider opening one of the best CDs if:
- You’re saving for something specific you’ll buy in the future, like a wedding, new car, or tuition bill, and want that money to earn a little more while it sits.
- You’re retired (or getting close) and want to earn guaranteed interest on part of your cash (the part you don’t plan to touch anytime soon!).
- You want a safe way to lock in today’s interest rates before they start to fall.
- You tend to dip into your savings and want a little friction from part of it to keep you from spending impulsively.
- You’re holding onto cash temporarily (maybe while waiting to invest it) and want to earn more than a basic savings account.
- You’re teaching a teen or young adult how to save and want to show them how compound interest works in a hands-off, low-risk way.
Heads-up: CDs are not a good place for your emergency fund. Since you’ll usually pay a penalty for withdrawing early, it’s best to keep your emergency savings in one of our picks for the best high-yield savings accounts, so you can tap it instantly if needed. Read more about the difference between CDs and savings here.
I only consider CDs as a portion of a client’s cash cushion, which is separate from their long-term investments. I recommend keeping cash on hand for their emergency fund and purchases or expenses for the next two or three years.
Depending on the amount of the emergency fund or the timing of a purchase/expense, a CD could be used for a portion of this cash.
How to choose the best CD
You’ll generally want to think through the following to find the best CD for you:
- Start by checking today’s best CD rates. If you’re reading this roundup of the best CDs, you’re already one step ahead. We’ve pulled the top CD accounts so you don’t need to go digging.
- See whether your current bank or credit union made the list. If it did, great! Opening a high-yield CD there could be the simplest option. It’ll help you avoid having yet another app or account to keep track of.
- If your bank’s rates aren’t competitive, don’t settle. Plenty of online banks and credit unions are offering three times the national average right now. Use a CD calculator to see how much more you could earn by going elsewhere. It’s often worth the extra 15 minutes to open a new account.
- Check the minimum deposit. Some banks let you open a CD with $0. Others require $500, $1,000, or more. Only lock away what you feel truly comfortable not touching for the full term.
- Choose a term that makes sense with your timeline. Whether it’s six months or five years, the term matters. If you withdraw early, you’ll usually pay a penalty. So if you think you might need access to that money soon, go shorter or look into a CD ladder.
- Watch out for fees or fine print. Most CDs don’t charge monthly fees, but peek at the early withdrawal penalty and auto-renewal policy so there are no surprises down the line.
5 types of CDs to look for
Not all CDs follow the traditional “lock it and forget it” model. These types of CDs have some unique perks that might better fit your needs:
- No-penalty CDs. These let you withdraw your money early without paying a fee. Ally’s 11-month no-penalty CD, for example, pays 3.30% APY and gives you full access to your funds after six days with no early withdrawal fees if you change your mind.
- Bump-up CDs. If rates rise, you can request to “bump up” your APY once during the term. Synchrony Bank currently offers a 24-month bump-up CD at 2.80% APY.
- Step-up CDs. These automatically increase your rate at set intervals. For instance, you might earn 3.00% in year one, 3.50% in year two, and 4.00% in year three. Look for terms like “rising rate CD” or “step-up CD” in the product name.
- Add-on CDs. Most CDs don’t let you contribute more once they’re open, but add-on CDs do. They can be good if you’re saving in chunks.
- Jumbo CDs. These require a large deposit (typically $100,000 or more) but may offer higher rates in return. Just make sure the APY justifies locking up that much cash.
Are CDs safe in 2025?
CDs are one of the safest places to stash your money in 2025 if you open one with an FDIC- or NCUA-insured institution. That way, if your bank or credit union fails, your money is protected up to $250,000 per depositor, per institution, per account category. Most banks and credit unions are insured, but always double-check just in case.
Can you lose money in a CD?
You might lose money in a CD if you withdraw your funds early and incur a penalty. But the bigger risk is using CDs for the wrong purpose. They’re great for short- and medium-term goals, but they aren’t meant to grow your money over decades.
So if you’re relying only on CDs or savings accounts for your long-term goals (like retirement), you could actually lose ground to inflation and miss out on better growth opportunities.
Are CDs worth it right now?
The best CDs can still be worth it, even today. The Federal Reserve has already started cutting interest rates in 2025, and if it keeps going, high-yield CD rates could drop too. Even still, any type of high-yield account will always earn you more interest than a traditional account, no matter the market.
Recap of the best CDs with the highest rates
Article sources
At LendEDU, our writers and editors rely on primary sources, such as government data and websites, industry reports and whitepapers, and interviews with experts and company representatives. We also reference reputable company websites and research from established publishers. This approach allows us to produce content that is accurate, unbiased, and supported by reliable evidence. Read more about our editorial standards.
- Federal Deposit Insurance Corporation, National Rates and Rate Caps
- Ally Bank, High Yield CDs
- Marcus by Goldman Sachs, High-Yield Certificates of Deposit
- Capital One, 360 CD account and rates
- Discover Bank, CD Account
- Synchrony Bank, Certificate of Deposit (CD)
- Barclays, AARP Digital Banking from Barclays
- CIT Bank, No-Penalty CD
- Bread Financial, Let a Certificate of Deposit Work for You
- Bask Bank, Reach Your Savings Goals Confidently With a CD
- First Internet Bank, Business Savings and CDs
- Connexus Credit Union, Account & Loan Rates
- Alliant Credit Union, Lock in Growth With a Certificate
- Navy Federal Credit Union, Certificate Rates
About our contributors
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Written by Cassidy Horton, MBACassidy Horton is a finance writer passionate about helping people find financial freedom. With an MBA and a bachelor's in public relations, her work has been published more than 1,000 times online.
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Edited by Kristen Barrett, MATKristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, with her wife and their three senior rescue dogs. She has edited and written personal finance content since 2015.
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Reviewed by Chloe Moore, CFP®Chloe Moore, CFP®, is the founder of Financial Staples, a virtual, fee-only financial planning firm based in Atlanta, Georgia, and serving clients nationwide. Her firm is dedicated to assisting tech employees in their 30s and 40s who are entrepreneurial-minded, philanthropic, and purpose-driven.