Top CD Rates April 2025: Best 4-Year at 4.70%, Leading 3-Month CD Hits 5.65%

Key Highlights for April 8, 2024

• The top 4-year CD rate slipped slightly to 4.70% APY from 4.80%, currently offered by Credit Human for terms between 36 and 59 months.
• Short-term CDs remain strong, with MutualOne Bank leading at 5.65% APY on a 3-month certificate, maintaining the highest nationwide rate.
• CDs yielding 5.00% or higher are available for terms up to three years, letting savers secure attractive rates until 2027.
• While CD rates have gradually softened after historic peaks, potential Federal Reserve rate cuts later this year could accelerate declines.

Below you’ll find detailed insights on the best CD options from our trusted partners and a comprehensive ranking of nationwide offers.

Lock in 5.40% to 5.65% APY on 3 to 12-Month CDs

The highest CD rates by term saw a modest dip today, with the 4-year top rate falling to 4.70% APY from 4.80%. Credit Human now leads this category, allowing flexible terms from 36 to 59 months at this yield.

Short-term CDs continue to dominate with top returns. After two weeks of Newtek Bank’s 6-month CD at 5.55%, MutualOne Bank captured the crown last week with an impressive 5.65% APY for 3 months.

Besides these leaders, over a dozen CDs offer 5.40% APY or above for terms ranging from 3 to 12 months. Notably, three certificates between 5 and 7 months pay 5.50% APY.

For investors seeking longer commitment, several 18-month CDs provide solid rates from 5.15% to 5.25% APY, securing returns through late 2025.

Extend Rate Locks to 2026 and Beyond with Longer Terms

If you want to secure today’s attractive CD rates for longer, consider top 2-year CDs offering 5.20% APY, locking in yields through 2026. Additionally, 5.00% rates are available for terms extending to 2027. While these are the longest terms offering 5% or higher, mid-to-high 4% APYs are accessible for CDs lasting four to five years.

CD Rates Remain Historically High Despite Recent Declines

After reaching a record 6.50% in October, CD rates have softened but remain strong relative to the past two decades. The number of CDs paying at least 5.50% APY dropped from 30 in February to just five today.

Locking in yields between 4% and 5% for one year or longer still represents an excellent earning opportunity in today’s market.

Remember, aiming for the absolute highest APY isn’t always necessary. With potential rate drops expected in 2024 and 2025, securing a long-term rate now can be a savvy strategy to protect returns before rates decline.

Jumbo CDs Offer Enhanced Returns but Shop Around

For larger deposits, jumbo CDs provide higher yields than standard certificates. State Bank of Texas leads with 5.50% APY for 12 months, and My eBanc offers 5.49% APY for 6 months.

However, jumbo rates don’t always surpass standard CDs. Currently, six terms show better or equal yields on standard CDs, so it’s wise to compare both options before deciding.

Outlook: Where Are CD Rates Headed in 2024?

To battle persistent inflation, the Federal Reserve raised interest rates aggressively from March 2022 to July 2023, reaching the highest levels in 22 years. These hikes have boosted bank deposit rates, benefiting CD investors.

This led to historically favorable returns during fall 2023, when CD rates peaked at two-decade highs.

Since July’s last rate hike, the Fed has paused rate increases, maintaining the federal funds rate steady through five consecutive meetings as of March 20.

With inflation easing but still above target, Fed Chair Jerome Powell emphasized that rate cuts won’t occur until there’s confidence inflation is sustainably heading to 2%. Federal Reserve Governor Chris Waller echoed this cautious stance, citing strong economic data and no immediate rush to lower rates.

Recent stronger-than-expected job growth further supports the view that rates may stay elevated longer than initially anticipated.

The Fed’s March 20 median forecast predicts three rate cuts in 2024, but market confidence has softened, with only about half of traders expecting the first cut by June and multiple cuts by year-end.

While a rate cut this year remains probable, the timing is uncertain, suggesting CD rates may hold steady for months before declining if cuts materialize.

Six Fed meetings remain in 2024, with the next on April 30–May 1.

Best High-Yield Savings Accounts for May 2025: 2 Offers at 5.00%
Best CD Rates for May 2025: Up to 4.50%
Best Money Market Accounts for May 2025: Up to 4.40%

Important Notice

The "top rates" presented here represent the highest nationally available yields identified by ZAMONA’s daily research across hundreds of banks and credit unions. These are not national averages, which include many large banks offering minimal interest. Hence, top rates discovered by shopping around can be 5 to 15 times greater than national averages.

Our Methodology for Finding the Best CD Rates

Each business day, ZAMONA analyzes rate data from over 200 federally insured banks (FDIC) and credit unions (NCUA) nationwide to rank the highest-paying CDs by term. Eligible institutions must be accessible in at least 40 states, and CDs must require an initial deposit of no more than $25,000.

We exclude credit unions with membership requiring donations of $40 or more, focusing on broadly accessible offerings. For full details on our selection process, see our comprehensive methodology.

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