Top CDs in 2025: Unlock Rates Up to 5.90% with New High-Yield Certificates

Explore today’s most competitive CD rates across all term lengths.

Great news for savers seeking Certificates of Deposit: multiple fresh options have emerged offering top-tier yields in the 6-month and 1-year categories, alongside an unmatched nationwide 2-year CD rate of 5.90% APY. This new rate, introduced just yesterday, surpasses the previous best of 5.75% APY.

Three new CDs from TotalDirectBank and Connexus Credit Union have joined our elite "Benchmark Leaders" group, which includes CDs yielding 5.50% APY or higher. Leading the pack is Pelican State Credit Union’s 2-year CD at an impressive 5.90% APY.

Key Highlights

• The count of "Benchmark Leader" CDs—offering 5.50% APY or higher—has risen to 28, up from 25 the previous day and 22 two days ago.
• The top-rated CD remains a 2-year certificate paying 5.90% APY.
• 6-month CD rates have inched upward slightly today.
• Lock in at least 5.00% APY for up to three years, with a 3-year CD yielding 5.13% APY. Jumbo deposits of $100,000+ can access a 4-year CD at 5.12% APY.
• The Federal Reserve’s next rate decision is five weeks away, with uncertainty whether rates will rise further or stay steady.

To maximize your earnings, here are the top CD rates from our trusted partners, plus detailed insights on the best CDs accessible nationwide.

For those aiming to secure a strong rate beyond two years, several options offer 5.00% APY or more. The leading 3-year CD delivers 5.13% APY, while some banks also offer 5.00% APY for this term. Jumbo CDs with deposits of $100,000 or more can extend to four years at 5.12% APY.

CD Shopper Advice

If you hesitate to join a credit union due to membership concerns, reconsider. Many credit unions featured in our rankings welcome members nationwide with minimal or no fees, often requiring only a small donation to an affiliated nonprofit. Opening an account is as straightforward as with any bank.

Important Note

While jumbo CDs (usually requiring $100,000+) can offer higher yields in some terms, they may pay less than standard CDs in others. Today’s best jumbo rates outperform standard CDs in five terms, but in three terms, standard CDs remain competitive or superior. Always compare all certificate types before deciding.

Will CD Rates Rise Further in 2024?

CD rates have reached historic highs, yet there is potential for modest increases. The Federal Reserve raised the federal funds rate by 0.25% on July 26 and plans to maintain it at this elevated level until at least September 20. This benchmark rate directly influences the interest banks and credit unions offer on deposits.

Since March 2022, the Fed has implemented 11 rate hikes to combat high inflation, bringing the federal funds rate to 5.25%—its peak since 2001. This environment benefits CD investors and holders of high-yield savings and money market accounts alike.

The Fed’s July statement did not clarify whether rates will increase further this year, reiterating its commitment to reducing inflation to 2%. Chairman Jerome Powell noted that the September meeting could see either a rate hike or a hold, with no definitive decision made yet.

Some Fed officials have stressed the importance of monitoring upcoming data and deciding on a meeting-by-meeting basis, while others anticipate holding rates steady unless unexpected data emerges. Another member indicated rate cuts are unlikely before 2024 or 2025.

Given these factors, July’s hike could still push CD rates higher, but momentum may slow until the Fed’s next moves become clearer. When the Fed signals an end to rate hikes, that will likely mark the peak for CD yields.

Best CD Rates for May 2025: Up to 4.50%
Best High-Yield Savings Accounts for May 2025: Two offers at 5.00%
Best Money Market Accounts for May 2025: Up to 4.40%

Note on Rates

The "top rates" cited here represent the highest nationally available yields identified through daily research of hundreds of banks and credit unions. These differ significantly from national averages, which include many institutions offering minimal interest. By shopping around, you can find rates five to fifteen times higher than the average.

Rate Collection Methodology

Each business day, we analyze rate data from over 200 federally insured banks and credit unions offering CDs nationwide to compile daily rankings of the best certificates across major terms. Eligible institutions must be FDIC or NCUA insured, with minimum deposits capped at $25,000.

Banks must operate in at least 40 states. Credit unions requiring donations over $40 for membership are excluded. Learn more about our selection process in our full methodology.

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