Skip to Main Content

Best CD rates of October 2025 (Up to 4.25%)

Written by
Matthew Goldberg
and
Karen Bennett
Edited by
Yuliya Goldshteyn
Reviewed by
Greg McBride, CFA
Verified Badge IconExpert verified

Updated October 29, 2025

At Bankrate we strive to help you make smarter financial decisions. Though our partners compensate us from links on this page, we maintain editorial integrity, and partners don't influence our product evaluations. Here's how we make money and here is our advertiser disclosure.

Opening a certificate of deposit (CD) allows you to lock in an attractive fixed rate and earn higher returns compared to traditional savings accounts, while providing guaranteed growth for a set period of time. Currently, the best CD rates still earn above 4 percent APY. The top rate tracked by Bankrate's editorial team is 4.25 offered by America First FCU. Before opening a certificate of deposit, be sure to read expert advice and tips below to ensure a financially safe decision.

PERSONALIZE YOUR SEARCH
Bankrate logo

Why choose Bankrate

Backed by over 40 years of experience, our team at Bankrate strives to help you make the right decisions for any financial situation.
Ribbon Icon
46

Years experience

Rates Up Icon
3,000 +

Deposit rates tracked

Bank Icon
100 +

Banks reviewed

Table of contents

Best CD rates from top banks for October 2025

Note: APYs may have changed since they were last updated and may vary by region for some products. Bankrate only includes FDIC banks or NCUA credit unions in the editorial listings below.

Quorum Federal Credit Union_logo

Quorum Federal Credit Union

Rating: 3.7 stars out of 5
3.7 Bankrate CD score

  • Annual percentage yield

    2.20% – 4.20%

  • Min. deposit to open

    $100

  • Term

    3 months - 5 years

Why Quorum Federal Credit Union?

Anyone can join this credit union and gain access to term savings accounts (another name for CDs) that range from three months to five years. All of the terms pay annual percentage yields (APYs) that are above the national average, with a few terms paying really competitive yields. Larger deposits are rewarded with a higher yield, as deposits of $100,000 or more earn an additional 0.10 percent APY.

Bread Savings_logo

Bread Savings

Rating: 3.9 stars out of 5
3.9 Bankrate CD score

  • Annual percentage yield

    3.75% – 4.20%

  • Min. deposit to open

    $1,500

  • Term

    3 months - 5 years

Why Bread Savings?

Bread Savings offers nine CDs, ranging from three months to five years, all with strong yields. The minimum deposit to open one of the CDs is $1,500.

M.Y. Safra Bank_logo

M.Y. Safra Bank

Rating: 4.4 stars out of 5
4.4 Bankrate CD score

  • Annual percentage yield

    3.25% – 4.15%

  • Min. deposit to open

    $500

  • Term

    3 months - 5 years

Why M.Y. Safra Bank?

M.Y. Safra Bank’s sole branch is located in New York City, although it offers some online accounts nationwide, including CDs and a checking account. The standard CD terms range from three months to five years, and all earn competitive APYs and require a relatively low minimum opening deposit. Also offered is a no-penalty CD, which requires a larger minimum deposit and money that’s new to the bank.

LimelightBank_logo

LimelightBank

Rating: 4.4 stars out of 5
4.4 Bankrate CD score

  • Annual percentage yield

    3.70% – 4.15%

  • Min. deposit to open

    $1,000

  • Term

    6 months - 3 years

Why LimelightBank?

Limelight Bank is an online bank based in Utah that offers its CDs nationwide. It has four CD terms: six months, one year, 18 months and three years. The rates are competitive, and this mix of terms gives customers some flexibility to find a CD that matches their short-term saving needs, but you'll need to look elsewhere for longer-term investments.

Synchrony Bank_logo

Synchrony Bank

Rating: 4.5 stars out of 5
4.5 Bankrate CD score

  • Annual percentage yield

    0.25% – 4.10%

  • Min. deposit to open

    $0

  • Term

    3 months - 5 years

Why Synchrony Bank?

Synchrony Bank is an online-only bank that offers many regular CDs ranging from three months to five years. Synchrony stands out because there is no minimum deposit required to open its CDs. Synchrony also has a bump-up CD and IRA CDs.

LendingClub_logo

LendingClub

Rating: 4.3 stars out of 5
4.3 Bankrate CD score

  • Annual percentage yield

    3.40% – 4.10%

  • Min. deposit to open

    $500

  • Term

    6 months - 5 years

Why LendingClub?

LendingClub Bank offers six terms of CDs, ranging from a six-month CD to a five-year CD. The interest rates for all terms are all fairly competitive, and all require a minimum deposit of $500. For CDs with terms of one year or less, the penalty is 90 days simple interest; you can find banks that have harsher penalties.

Marcus by Goldman Sachs_logo

Marcus by Goldman Sachs

Rating: 4.5 stars out of 5
4.5 Bankrate CD score

  • Annual percentage yield

    3.85% – 4.10%

  • Min. deposit to open

    $500

  • Term

    6 months - 6 years

Why Marcus by Goldman Sachs?

Marcus by Goldman Sachs offers CD terms ranging from six months to six years, and the minimum required opening deposit of $500 is lower than what some other banks require. The rates are competitive for most terms. In addition to standard CDs, the online-only bank offers no-penalty CDs and a bump-rate CD. Marcus' CD penalties are generally on the lower end, compared with those at competing banks.

Alliant_logo

Alliant

Rating: 4.3 stars out of 5
4.3 Bankrate CD score

  • Annual percentage yield

    3.10% – 4.10%

  • Min. deposit to open

    $1,000

  • Term

    3 months - 5 years

Why Alliant?

Alliant offers a range of CD term lengths from three months to five years, and all of them carry strong APYs. The range of term lengths offered makes Alliant a good place to build a CD ladder. All CDs require $1,000 to open (or $75,000 if you opt for a jumbo CD, which pays slightly higher APYs). Anyone can join Alliant Credit Union; membership is not restricted.

Bask Bank_logo

Bask Bank

Rating: 4 stars out of 5
4.0 Bankrate CD score

  • Annual percentage yield

    3.75% – 4.10%

  • Min. deposit to open

    $1,000

  • Term

    3 months - 2 years

Why Bask Bank?

Bask Bank is the online division of Texas Capital Bank and similarly to its parent bank, offers only short-term CD terms. These terms range from three months to two years and all offer competitive yields. You’ll need at least $1,000 to open a CD at Bask Bank. Those looking for a longer-term CD will have to look elsewhere. Bask Bank has a penalty of 90 days of interest on its one-year CD. That's at the lower end of one-year CD penalties.

Sallie Mae_logo

Sallie Mae

Rating: 3.9 stars out of 5
3.9 Bankrate CD score

  • Annual percentage yield

    3.70% – 4.10%

  • Min. deposit to open

    $2,500

  • Term

    6 months - 5 years

Why Sallie Mae?

Sallie Mae offers 11 terms of CDs, including some lengths that aren’t available at other banks. A minimum opening deposit of at least $2,500 is required, but savers with that much to invest will be rewarded with some of the best rates available, particularly for terms of one year or longer.

Texas Capital Bank_logo

Texas Capital Bank

Rating: 4.5 stars out of 5
4.5 Bankrate CD score

  • Annual percentage yield

    0.50% – 4.05%

  • Min. deposit to open

    $1,000

  • Term

    1 month - 5 years

Why Texas Capital Bank?

Texas Capital Bank is based in Texas and while some of its accounts are reserved for Texas residents, it offers its CDs nationwide. And it has a few CD terms with highly competitive APYs. You can choose from six CD terms at Texas Capital, ranging from one month to two years. The minimum deposit to open a CD is $1,000.

First National Bank of America_logo

First National Bank of America

Rating: 4.1 stars out of 5
4.1 Bankrate CD score

  • Annual percentage yield

    3.65% – 4.00%

  • Min. deposit to open

    $1,000

  • Term

    3 months - 5 years

Why First National Bank of America?

First National Bank of America is a Michigan-based bank that offers its CDs online nationwide. And its CD rates are competitive across many terms. You can open a CD with a $1,000 minimum deposit, and you have your pick of terms from three months all the way up to ten years. You can open any of these CDs online, but if you want a paper copy of the CD too, you can request one from the bank.

Recent news on CD rates

At their Oct. 29 rate-setting meeting, Federal Reserve officials cut the federal funds rate by 25 basis points, or a quarter percentage point. They had also cut the rate by the same amount in September. Until then, the Fed had held rate steady throughout 2025 after a few cuts in late 2024 that totaled 100 basis points. The federal funds rate now stands at a range of 3.75-4.00 percent.

Within the current rate cycle, top CD rates peaked in the fourth quarter of 2023 for one-year and five-year CDs. However, competitive CD rates are still higher than the national average CD rates. What's more, high-yielding CD rates continue to outpace the rate of inflation. The Consumer Price Index (CPI) rose 3.0 percent on an annual basis for September.

This means savers still have the opportunity to open a CD that's outpacing inflation and may continue to outpace long-term inflation expectations. With that said, nobody really knows whether inflation will stay around this level. 

Learn more: CD rate forecast

National average interest rates for CDs

Researching average interest rates provides insight into the CD rate environment and can help in finding a CD with a yield that's much higher than average. Here are the current average rates as of Oct 29, according to Bankrate's most recent survey of institutions:

CD term CD national average APY
1 year 1.97%
2 year 1.75%
3 year 1.67%
4 year 1.78%
5 year 1.7%
Bankrate logo
BANKRATE EXPERT FAQ

What our industry experts are saying

Taylor Kovar

CFP, founder and CEO of 11 Financial

Even with the Fed trimming rates by a quarter point, CD yields remain relatively steady for now. Banks usually move quickly when the Fed makes a change, so the offers available today may not last. For anyone holding extra cash, it might be worth looking at CDs that align with their goals before rates begin to shift.

Mark Hamrick

Bankrate senior economic analyst

If I asked you whether you’d settle for something average, or something better, what would you opt for? You’d go for something better, right? The same holds true here. Don’t settle for the average rate, go for the highest yield, which can be two times or more than average. With larger sums and over time, the difference on your return can be more than might meet the eye.

Christopher Stroup

CFP, founder and president of Silicon Beach Financial

With the Fed trimming rates by 25 basis points, we’re likely past the peak for CD yields. That means the best offers we’ve seen over the past year may start to fade as banks gradually adjust their payouts. Savers who are already locked in a high-rate CD can rest easy knowing their return is protected until maturity. But if you’ve been waiting to open one, it’s a good idea to move soon. Even after a small rate cut, CDs still offer much better yields than we saw just a few years ago, and they remain one of the safest ways to earn a guaranteed return on your cash.

Current promotional CD rates

Some banks have promotional CD rates, even some of the largest banks. There might be certain restrictions on these CDs. For instance, you might have to bring money from outside the bank to be eligible for this APY. Promotional CDs may renew at a different term and at a different APY. (That APY is likely to not be known when you purchase a promotional CD.)

Bank name CD product APY
U.S. Bank 5-month 3.60%
Bank of America 7-month 3.75%
Wells Fargo 7-month 3.64%
PenFed Credit Union 15-month 3.10%

These promotional CDs might not be available in certain areas. APYs for some products may vary by region. The CD may renew for a different term. The promotional offers are as of Sept. 19.

Compare top CD rates today by term

When you open a CD, selecting a term is an important step. The term is the length of time that the money stays stashed in the account. For example, opening a CD with a one-year term means you’re making a commitment to the bank that you’ll keep your money in the account for one year.

Here’s where you’ll find some of the top-yielding CDs by term.

Caret Down Icon
Institution APY Min. deposit
Bask Bank 4.10% APY $1,000
Texas Capital Bank 4.05% APY $1,000
WebBank 4.01% APY $2,500
Institution APY Min. deposit
Quorum Federal Credit Union 4.20% APY $100
Bread Savings 4.20% APY $1,500
LimelightBank 4.15% APY $1,000
Institution APY Min. deposit
Alliant 4.10% APY $1,000
LimelightBank 4.05% APY $1,000
M.Y. Safra Bank 4.01% APY $500
Institution APY Min. deposit
The Federal Savings Bank 3.95% APY $5,000
Marcus by Goldman Sachs 3.90% APY $500
Sallie Mae 3.90% APY $2,500
Institution APY Min. deposit
Synchrony Bank 4.00% APY No minimum
M.Y. Safra Bank 3.91% APY $500
Marcus by Goldman Sachs 3.90% APY $500

Note: Annual percentage yields (APYs) shown were updated between Oct. 22 and Oct. 28. Bankrate's editorial team validates this information regularly. APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes only FDIC banks or NCUA credit unions in its listings.

How to choose the best CD for you

The top three things to look for when choosing a CD are:

Learn more: What is a CD?

Types of CDs

Banks and credit unions offer a wide range of CDs to fit different financial needs. Take some time to consider which type of CD is best for you.

Caret Down Icon

Traditional CDs are the most common type of CD, and they earn a fixed APY for the entire term. These CDs usually don’t allow you to add more funds after your opening deposit, and they also tend to have strict early withdrawal penalties.

If you withdraw from a CD before it matures, the penalty is usually equal to the amount of interest earned during a certain period of time. For instance, a bank may impose a penalty of 90 days of simple interest on a one-year CD if you withdraw from that CD before the year is up.

When this CD makes sense: Traditional CDs are a good choice if you know exactly when you’ll need the money, and there’s no chance of needing it before the term is up. They’re often good for CD ladders or other CD investing strategies in which timing is important.

Most CDs charge you a penalty for accessing the funds before the term is up. However, some banks offer no-penalty CDs — also known as liquid CDs — which allow you to withdraw the money early without being charged a penalty. 

A bank may require that you wait at least some time after opening a no-penalty CD — generally around seven days — before you’re able to withdraw from the CD, and some banks don’t allow for partial withdrawals. No-penalty CD rates tend to be lower than regular CD rates, but they can be better than some high-yield savings account or money market account rates.

When this CD makes sense: Consider a no-penalty CD if you don’t plan to withdraw the money before the CD matures, but you want to keep some flexibility in case you need access to the funds. As a result, you’re willing to give up a little return for added liquidity.

Bump-up CDs enable you to request an increase in your rate during the CD term under certain conditions. Banks that offer this CD usually allow just one bump-up per term. For example, you may open a three-year CD at a given rate, and the bank offers an additional half-point rate increase when you’re one year into the term. With a bump-up CD, you can request a rate increase for the remainder of the term. Like no-penalty CDs, bump-up CDs often pay lower rates than traditional CDs.

When this CD makes sense: A bump-up CD could be a good option if rates are expected to rise significantly during the term of the CD. Otherwise, you’re likely accepting a lower rate for limited potential upside.

Who should get a CD?

A CD is useful when you want to earn a consistent, fixed yield on your lump sum of cash over the term of your savings account, especially if interest rates are declining. It also encourages you to be disciplined in leaving your money untouched as it earns interest because a CD is a time deposit account and imposes an early withdrawal penalty if you withdraw your funds before the CD matures.

A good time to open a CD is when you have a lump sum of money that you want to sock away for a specific period of time in the hopes of consistently growing interest. Also, it’s worth opening a CD when you know you have a specific timeframe in mind when you think you’ll need this money. A six-month CD, for example, could be a good place to put your money aside for an insurance premium that’s due in eight months.

Learn more: How to build a CD ladder

Pros and cons of CDs

Before you choose a CD, weigh the pros and cons to ensure you're making the right investment choice for your financial situation.

Pros

  • Checkmark Icon

    Some CDs earn a higher APY than money market accounts or savings accounts.

  • Checkmark Icon

    CDs are a good place to store funds that you don’t want to be able to dip into too easily.

  • Checkmark Icon

    CDs can help you separate money for financial goals or future expenses.

  • Checkmark Icon

    Deposit insurance covers accounts at FDIC banks and NCUA credit unions up to at least $250,000.

  • Checkmark Icon

    A CD can diversify your savings plan with a guaranteed rate.

  • Checkmark Icon

    Your principal remains intact if you keep your money in a CD for the full term.

Cons

  • CDs tie up your money for a potentially long period of time.

  • Many CDs have early withdrawal penalties.

  • Money committed to a CD could end up earning a lackluster yield if rates rise substantially. The early withdrawal penalty may negate any benefit of switching to a higher-yielding CD, however.

  • You could potentially earn better rates of return in the stock market or by investing in other securities, but you'll be opening up your money to more risk.

Alternatives to CDs

High-yield savings account

This account tends to earn a yield currently of about seven times higher than the national average. At online-only banks, these accounts often won’t have monthly service fees or minimum balance requirements.

Caret Right Icon

Money market account

This is an interest-bearing account available at both banks and credit unions which is similar to a savings account but also offers some checking account features.

Caret Right Icon

Short-term bond funds

These funds, be they exchange-traded funds (ETFs) or mutual funds, typically invest in government and corporate bonds. Short-term bond funds typically have durations of one to three and a half years, according to Fidelity.

Caret Right Icon

Index funds

These funds are based on a preset basket of stocks, or index. They promise ownership of a wide variety of stocks, greater diversification and lower risk – usually all at a low cost.

Caret Right Icon

CD FAQs

Meet our Bankrate experts

Matthew Goldberg
Written by
Matthew Goldberg Matthew Goldberg Arrow Right Icon
Former Senior Consumer Banking Reporter
Read more from Matthew
Matthew Goldberg is an award-winning writer who has been in financial services for more than 14 years. He uses his banking experience to help inform readers as they make important personal finance decisions.
CD Icon
Credentials
  • Property (Colorado)
  • Life (Colorado)
Ribbon Icon
Expertise
  • Consumer banking
  • Savings accounts and CDs
Karen Bennett
Co-written by
Karen Bennett Karen Bennett Arrow Right Icon
Senior Writer, Banking
Read more from Karen
Karen Bennett is a senior consumer banking reporter at Bankrate where she uses her years of banking and personal finance experience to help inform readers about money-related decisions. She’s been a reporter at Bankrate since 2021.
Ribbon Icon
Expertise
  • Consumer banking
  • Savings accounts
Yuliya Goldshteyn
Edited by
Yuliya Goldshteyn
Editor, Banking
Greg McBride, CFA
Reviewed by
Greg McBride, CFA
Former Chief Financial Analyst, Personal Finance

Research methodology

Bankrate researches over 100 banks and credit unions, including some of the largest financial institutions, online-only banks, regional banks and credit unions with both open and restrictive membership policies.

To find the best CD rates, we regularly survey CD offerings from the banks and credit unions that continually offer the most competitive CD rates. We also score these institutions on their CD offerings, including APY, minimum deposit requirements, term selection and more.

The banks and credit unions on this page are selected based on their CD APYs, minimum opening deposit requirements and Bankrate’s score for their CDs. Only banks and credit unions with broadly available CD offerings made the list. Learn more about how we choose the best banking products and our methodology for reviewing banks.

    • Clock and dollar bills representing a Certificate of Deposit, with the title Best CD Rates

    Learn more

    Calculator Icon
    Get Started

    Calculate your CD earnings

    Estimate how much money you will earn with a fixed APY when your CD matures.

    CD Icon
    Compare

    Pros and cons of CD investing

    Weigh the benefits and drawbacks of CD accounts to determine if this savings strategy is right for you.

    Invest Rate Icon
    In the news

    Current CD rates

    Stay informed about today's rate environment and what our experts have to say about opening a CD.