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CD Rates Today: May 9, 2025 – Earn As Much As 5.02%
- Today's best CD rates can reach as high as 5.02%, but they are subject to change based on market conditions and Federal Reserve actions.
- CDs provide fixed interest rates for set periods, offering better yields than high-yield savings accounts but with penalties for early withdrawals.
- Interest rates vary by CD term; for example, three-month CDs have an average rate of 1.3% and a high rate of 4.67%.
- Six-month CDs offer an average APR of 1.78% and a high rate of 4.94%, while 12-month CDs have a top rate of 5.02% and an average APY of 1.83%.
- 24-month CDs have rates as high as 4.52%, three-year CDs at 4.27%, and five-year CDs at 4.26%, each with corresponding average APYs.
- Jumbo CDs, requiring higher minimum deposits, offer rates up to 4.94% for 6-month terms and an average APY of 1.82%.
- CDs from digital banks often have competitive rates due to lower costs, offering alternatives to traditional banks like Chase, Capital One, and Synchrony Bank.
- CDs provide a secure investment option with FDIC or NCUA insurance covering up to $250,000 in case of bank or credit union failure.
- Avoid tapping into CDs early to prevent penalties that can erode interest earnings and even dip into your principal amount.
- CDs offer higher interest rates compared to high-yield savings or money market accounts while providing a safer haven for investments.
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