We believe everyone should be able to make financial decisions with confidence. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free.
So how do we make money? Our partners compensate us. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. Here is a list of our partners.
Current CD Rates, Feb. 2025: APYs Slowly Drop
High-yield CD rates have slowed their descent as 2025 begins. See rates by CD term below.
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
Updated · 1 min read
How is this page expert verified?
NerdWallet's content is fact-checked for accuracy, timeliness and relevance. It undergoes a thorough review process involving writers and editors to ensure the information is as clear and complete as possible.
Spencer Tierney is a consumer banking writer at NerdWallet. He has covered personal finance since 2013, with a focus on certificates of deposit and other banking-related topics. His work has been featured by The Washington Post, USA Today, The Associated Press and the Los Angeles Times, among others. He is based in Oakland, California.
Sara Clarke is a former Banking editor at NerdWallet. She has been an editor and project manager in newsrooms for two decades, most recently at U.S. News & World Report. She managed projects such as the U.S. News education rankings and the Best States rankings. Sara has appeared on SiriusXM Business Radio and iHeartMedia’s WHO Newsradio and has been quoted in The Salt Lake Tribune, The St. Paul (Minnesota) Pioneer Press and other outlets. She is based near Washington, D.C.
The best short-term CD rates are in the low to mid-4% range, a departure from the 5% rates of January 2024, based on NerdWallet analysis. The beginning of 2025, however, has seen incremental dips rather than plunging rates. Longer-term high-yield CDs, such as three- to five-year terms, remain in the mid-3% range. Skip down to see current CD rates.
The Fed lowered its benchmark rate multiple times in the second half of 2024. As a result, banks and credit unions have started lowering CD rates. With a CD, you can lock in high rates while they’re still around.
2025 data highlight: smaller dips for high-yield CDs
CD rates at nearly two dozen online banks and credit unions saw a slowdown in their descent from December to January. Longer-term CDs stayed more steady while short-term CDs only dipped slightly. This more gradual decrease contrasts to the steeper rate drops around September 2024, which was when the Federal Reserve made its first rate cut since 2020. The latest rate dips are mostly around 10 basis points (0.10 percentage point).
CD term
Median APY:
Sept. 2024
Median APY:
Dec. 2024
Median APY:
Jan. 2025
6-month CD
4.55%.
4.00%.
4.00%.
1-year CD
4.60%.
4.10%.
4.00%.
3-year CD
3.90%.
3.50%.
3.50%.
5-year CD
3.60%.
3.50%.
3.50%.
See methodology details
Medians, or midpoints, consist of APYs of CDs or share certificates collected from the websites of the following 21 financial institutions: Alliant Credit Union, Ally Bank, Andrews Federal Credit Union, Barclays, BMO Alto, Bread Savings, Capital One, Citizens, Connexus Credit Union, Discover Bank, EverBank, LendingClub, Live Oak Bank, Marcus by Goldman Sachs, Pentagon Federal Credit Union, Popular Direct, Quontic Bank, Sallie Mae Bank, Self-Help Credit Union, Synchrony Bank and TAB Bank. In cases where an institution doesn’t offer a specific term, the median of remaining institutions was used. Dates of collection were Sept. 19, 2024; Dec. 16, 2024; and Jan. 28, 2025.
See previous data (through December 2024)
CD term
Median APY:
Late Jan. 2024
Median APY:
Mid-Dec. 2024
Change
6-month CD
5.00%.
4.00%.
-1 percentage point (100 basis points).
1-year CD
5.10%.
4.10%.
-1 percentage point (100 basis points).
3-year CD
4.25%.
3.50%.
-0.75 percentage point (75 basis points).
5-year CD
4.00%.
3.50%.
-0.50 percentage point (50 basis points).
See methodology details
Medians, or midpoints, consist of APYs of CDs or share certificates collected from the websites of the following 21 financial institutions: Alliant Credit Union, Ally Bank, Andrews Federal Credit Union, Barclays, BMO Alto, Bread Savings, Capital One, Citizens, Connexus Credit Union, Discover Bank, EverBank, LendingClub, Live Oak Bank, Marcus by Goldman Sachs, Pentagon Federal Credit Union, Popular Direct, Quontic Bank, Sallie Mae Bank, Self-Help Credit Union, Synchrony Bank and TAB Bank. In cases where an institution doesn’t offer a specific term, the median of remaining institutions was used. Dates of collection were Jan. 26, 2024, and Dec. 16, 2024.
See previous data (through November 2024)
CD term
Median APY:
Late Jan. 2024
Median APY:
Late Nov. 2024
Change
6-month CD
5.00%.
4.00%.
-1 percentage point (100 basis points).
1-year CD
5.10%.
4.10%.
-1 percentage point (100 basis points).
3-year CD
4.25%.
3.50%.
-0.75 percentage point (75 basis points).
5-year CD
4.00%.
3.40%.
-0.60 percentage point (60 basis points).
See methodology details
Medians, or midpoints, consist of APYs of CDs or share certificates collected from the websites of the following 21 financial institutions: Alliant Credit Union, Ally Bank, Andrews Federal Credit Union, Barclays, BMO Alto, Bread Savings, Capital One, Citizens, Connexus Credit Union, Discover Bank, EverBank, LendingClub, Live Oak Bank, Marcus by Goldman Sachs, Pentagon Federal Credit Union, Popular Direct, Quontic Bank, Sallie Mae Bank, Self-Help Credit Union, Synchrony Bank and TAB Bank. In cases where an institution doesn’t offer a specific term, the median of remaining institutions was used. Dates of collection were Jan. 26, 2024, and Nov. 25, 2024.
See previous data (through October 2024)
CD term
Median APY:
Late Jan. 2024
Median APY:
Late Oct. 2024
Change
6-month CD
5.00%.
4.15%.
-0.85 percentage point (85 basis points).
1-year CD
5.10%.
4.10%.
-1 percentage point (100 basis points).
3-year CD
4.25%.
3.50%.
-0.75 percentage point (75 basis points).
5-year CD
4.00%.
3.50%.
-0.50 percentage point (50 basis points).
See methodology details
Medians, or midpoints, consist of APYs of CDs or share certificates collected from the websites of the following 21 financial institutions: Alliant Credit Union, Ally Bank, Andrews Federal Credit Union, Barclays, BMO Alto, Bread Savings, Capital One, Citizens, Connexus Credit Union, Discover Bank, EverBank, LendingClub, Live Oak Bank, Marcus by Goldman Sachs, Pentagon Federal Credit Union, Popular Direct, Quontic Bank, Sallie Mae Bank, Self-Help Credit Union, Synchrony Bank and TAB Bank. In cases where an institution doesn’t offer a specific term, the median of remaining institutions was used. Dates of collection were Jan. 26, 2024, and Oct. 29, 2024.
See previous data (through September 2024)
CD term
Median APY:
Late Jan. 2024
Median APY:
Late Sept. 2024
Change
6-month CD
5.00%.
4.55%.
-0.45 percentage point (45 basis points).
1-year CD
5.10%.
4.60%.
-0.50 percentage point (50 basis points).
3-year CD
4.25%.
3.90%.
-0.35 percentage point (35 basis points).
5-year CD
4.00%.
3.60%.
-0.40 percentage point (40 basis points).
See methodology details
Medians, or midpoints, consist of APYs of CDs or share certificates collected from the websites of the following 21 financial institutions: Alliant Credit Union, Ally Bank, Andrews Federal Credit Union, Barclays, BMO Alto, Bread Savings, Capital One, Citizens, Connexus Credit Union, Discover Bank, EverBank, LendingClub, Live Oak Bank, Marcus by Goldman Sachs, Pentagon Federal Credit Union, Popular Direct, Quontic Bank, Sallie Mae Bank, Self-Help Credit Union, Synchrony Bank and TAB Bank. In cases where an institution doesn’t offer a specific term, the median of remaining institutions was used. Dates of collection were Jan. 26, 2024, and Sept. 19, 2024.
See previous data (through August 2024)
CD term
Median APY:
Late Jan. 2024
Median APY:
Late Aug. 2024
Change
6-month CD
5.00%.
4.75%.
-0.25 percentage point (25 basis points).
1-year CD
5.10%.
4.70%.
-0.40 percentage point (40 basis points).
3-year CD
4.25%.
4.00%.
-0.25 percentage point (25 basis points).
5-year CD
4.00%.
3.87%.
-0.13 percentage point (13 basis points).
See methodology details
Medians, or midpoints, consist of APYs of CDs or share certificates collected from the websites of the following 21 financial institutions: Alliant Credit Union, Ally Bank, Andrews Federal Credit Union, Barclays, BMO Alto, Bread Savings, Capital One, Citizens, Connexus Credit Union, Discover Bank, EverBank, LendingClub, Live Oak Bank, Marcus by Goldman Sachs, Pentagon Federal Credit Union, Popular Direct, Quontic Bank, Sallie Mae Bank, Self-Help Credit Union, Synchrony Bank and TAB Bank. In cases where an institution doesn’t offer a specific term, the median of remaining institutions was used. Dates of collection were Jan. 26, 2024, and Aug. 26, 2024.
CD rate trend 2025: higher short-term CDs
The trend of shorter-term CD rates being higher than longer-term CD rates continues into 2025, both for national averages and among high-yield CDs. While seeing CD rates around 4% can be nice, the term length is also important. You earn less interest with a six-month CD than a one-year CD with the same rate.
Overview: high-yield and national CD rates
Online-only banks and credit unions continue to have the most competitive interest rates on certificates of deposit, but these high-yield CD rates are expected to keep dropping as the Fed gradually cuts its federal funds rate. See where rates are going in our CD rate forecast.
National average CD rates have also been higher than they’ve been for most of the past decade, though they remain far lower than CDs at online institutions. The gradual rise of online high-yield CD rates started in July 2021, after a relatively low-rate environment in 2020 and early 2021. After the Fed rate cut in September 2024, CD rates across the industry have dropped even more. (See more details about historical CD rates to see more context.)
High-yield CD rates today can be several times the national average of 1.32% APY for five-year terms and the national average of 1.82% APY for one-year terms. Unlike regular savings accounts, most CDs have fixed rates, so you can lock in a higher rate while it lasts.
Here's a look at current CD rates at some online banks and credit unions.
Current promotional CD rates
The following promotional CD rates stand out based on NerdWallet’s data analysis in late January 2025. Expiration dates for a promo are shown when available.
In general, promotional rates tend to be for irregular CD terms and featured on banking websites as a “promotional rate” or “CD special.” (For more details, see how promotional CD rates work.)
All Bread Savings APYs are accurate as of 01/30/2025. APYs are subject to change at any time without notice. Offers apply to personal accounts only. Fees may reduce earnings. To open a CD, a minimum of $1,500 is required and must be deposited in a single transaction. A penalty will be imposed for early withdrawals on CDs. At maturity, your CD will automatically renew and earn the base interest rate in effect at that time. Rates are compared against competitor rates published by NerdWallet.com and the institutions themselves as of 01/30/2025. NerdWallet.com obtains the data from the various banks that it tracks and its accuracy cannot be guaranteed.
A savings account is a place where you can store money securely while earning interest.
A savings account is a place where you can store money securely while earning interest.
4.25%Annual Percentage Yield (APY) is accurate as of 01/09/2025. APY may change at any time before or after the account is opened. Available only online.
5.00%Start earning 2.50% APY (Annual Percentage Yield), then qualify to earn 5.00% APY. Earn 5.00% APY on your balance up to $5,000.00 for next month by meeting these two requirements this month: (1) Receive direct deposit(s) totaling $1,000 or more; and (2) End the month with a positive balance in both your Varo Bank Account and Savings Account. You’ll continue to earn 2.50% APY on any additional balance above $5,000.00. No fees, no minimum balance required.
Min. balance for APY
$0
These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.
These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.
4.50%*Current promotional rate; annual percentage yield (variable) is 4.00% as of 12/27/24, plus a .50% boost available as a special offer with qualifying deposit. Terms apply; if the base APY increases or decreases, you’ll get the .50% boost on the updated rate. Cash Reserve is only available to clients of Betterment LLC, which is not a bank; cash transfers to program banks (www.betterment.com/cash-portfolio) conducted through clients’ brokerage accounts at Betterment Securities. FDIC insurance is subject to certain conditions.
