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Best CD rates of September 2025 (Up to 4.45%)

Written by
Matthew Goldberg
and
Karen Bennett
Edited by
Marc Wojno, MBA
Reviewed by
Greg McBride, CFA
Verified Badge IconExpert verified

Updated September 15, 2025

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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 4.45 offered by LendingClub. Before opening a certificate of deposit, be sure to read expert advice and tips below to ensure a financially safe decision.

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Table of contents

Best CD rates from top banks for September 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.

Morgan Stanley Private Bank_logo

Morgan Stanley Private Bank

Rating: 4.2 stars out of 5
4.2 Bankrate CD score

  • Annual percentage yield

    3.75% – 4.25%

  • Min. deposit to open

    $0

  • Term

    6 months - 5 years

Why Morgan Stanley Private Bank?

E*TRADE from Morgan Stanley offers CD terms ranging from six months to five years. And a $0 minimum deposit requirement makes this a CD that's accessible to most savers. Early withdrawal penalties include 270 days' worth of simple interest on its three-year CD and 450 days' worth on its five-year CD.

LimelightBank_logo

LimelightBank

Rating: 4.4 stars out of 5
4.4 Bankrate CD score

  • Annual percentage yield

    3.70% – 4.30%

  • 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. All of Limelight’s CDs require at least $1,000 to open. The bank doesn’t offer any specialty CDs, such as bump-up or no-penalty CDs.

Marcus by Goldman Sachs_logo

Marcus by Goldman Sachs

Rating: 4.9 stars out of 5
4.9 Bankrate CD score

  • Annual percentage yield

    3.85% – 4.40%

  • 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 charge. 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.

Bask Bank_logo

Bask Bank

Rating: 4.5 stars out of 5
4.5 Bankrate CD score

  • Annual percentage yield

    3.90% – 4.25%

  • 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. You’ll also need to look at other banks if you're interested in specialty CDs, such as no-penalty CDs, because Bask doesn't offer any. 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.

Popular Direct_logo

Popular Direct

Rating: 3.5 stars out of 5
3.5 Bankrate CD score

  • Annual percentage yield

    3.90% – 4.20%

  • Min. deposit to open

    $10,000

  • Term

    3 months - 5 years

Why Popular Direct?

Popular Direct is an online bank and a subsidiary of Popular Inc., a more than 130-year-old financial services company. It offers CDs in eight terms, ranging from three months to five years. With a $10,000 minimum deposit to open, these CDs are geared toward serious savers. Popular Direct doesn’t offer specialty CDs, such as bump-up or no-penalty CDs, though it does offer a savings account with a competitive rate.

First Internet Bank of Indiana_logo

First Internet Bank of Indiana

Rating: 4.1 stars out of 5
4.1 Bankrate CD score

  • Annual percentage yield

    3.61% – 4.28%

  • Min. deposit to open

    $1,000

  • Term

    3 months - 5 years

Why First Internet Bank of Indiana?

First Internet Bank of Indiana was one of the first online banks, established in 1999. It offers eight terms of CDs, all paying competitive APYs. The terms range from three months to five years, which gives you lots of options for short- and long-term savings. All CDs require a minimum of $1,000 to open; that’s standard, though you can find some banks that have a lower minimum deposit requirement. The bank has steep early withdrawal penalties though. For example, you'll be charged 360 days of interest as a penalty for early withdrawals on CDs with terms of 24 months or more.

Synchrony Bank_logo

Synchrony Bank

Rating: 4.7 stars out of 5
4.7 Bankrate CD score

  • Annual percentage yield

    0.25% – 4.25%

  • Min. deposit to open

    $0

  • Term

    3 months - 2 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 no-penalty CD, a bump-up CD and IRA CDs. The bank also offers a savings account, but no checking account.

Texas Capital Bank_logo

Texas Capital Bank

Rating: 4.5 stars out of 5
4.5 Bankrate CD score

  • Annual percentage yield

    0.50% – 4.25%

  • 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.

WebBank_logo

WebBank

Rating: 3.5 stars out of 5
3.5 Bankrate CD score

  • Annual percentage yield

    0.25% – 4.25%

  • Min. deposit to open

    $2,500

  • Term

    3 months - 5 years

Why WebBank?

WebBank offers six FDIC-insured CDs in terms ranging from three months to five years, each of which requires a $2,500 minimum deposit. The bank offers competitive yields on its one-year CD and its other short-term CDs, while its longer terms earn lackluster rates. WebBank also offers a savings account, but it earns a lower-than-average rate of return.

Vio Bank_logo

Vio Bank

Rating: 4.2 stars out of 5
4.2 Bankrate CD score

  • Annual percentage yield

    2.75% – 4.15%

  • Min. deposit to open

    $500

  • Term

    6 months - 5 years

Why Vio Bank?

Vio Bank offers traditional CDs with terms ranging from six months to 10 years. The minimum deposit for each account is relatively low at $500. Yields are competitive for all CDs, but the highest APYs are for those with terms of three years or less. The early withdrawal penalties, however, are steep. For any CD longer than 32 days, you'll lose a percentage of the amount you withdraw, plus you'll pay a $25 fee.

Rising Bank_logo

Rising Bank

Rating: 4.1 stars out of 5
4.1 Bankrate CD score

  • Annual percentage yield

    2.75% – 4.21%

  • Min. deposit to open

    $1,000

  • Term

    6 months - 3 years

Why Rising Bank?

Rising Bank is the online division of Midwest BankCentre, a St. Louis, Missouri community bank. When it comes to CDs, it offers terms between six months and three years, and the shorter terms earn highly competitive APYs. The bank also offers bump-up CDs that allow you to raise the rate if rates increase during the term, at which time you can also add funds to the account. Rising Bank's early withdrawal penalties are 90 days of interest for a one-year CD and 180 days worth of interest for CDs with a term of more than a year. For instance, its one-year CD penalty is similar to what some other banks have and is lower than other banks' fee on early withdrawals.

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% – 4.10%

  • 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, especially on a few of its shortest terms and its longest. You can open a CD here 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 hard copy of the CD too, you can request one from the bank. The bank also offers one other online account: a savings account that earns a decent yield (though you can find higher elsewhere).

Recent news on CD rates

At its July 30 meeting, the Federal Reserve's Federal Open Market Committee (FOMC) decided to hold its benchmark federal funds rate steady for the fifth straight meeting. The Fed cut rates by a total of 100 basis points — or one percentage point — throughout its final three meetings in 2024. The federal funds rate continues to rest at a range of 4.25-4.5 percent.

Though CD rates peaked in the fourth quarter of 2023 for the top one-year and five-year CDs in the current rate cycle, 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 2.7 percent on an annual basis for July. This means savers still have the opportunity to open a CD that's outpacing inflation and will likely outpace long-term inflation expectations. With that said, nobody really knows whether inflation will stay around this level.

When looking for a CD, seek a competitive interest rate, a term length that works for you and have your money at a Federal Deposit Insurance Corp. (FDIC) bank or National Credit Union Administration (NCUA) credit union for deposit insurance coverage. Also, familiarize yourself with early withdrawal penalties to avoid potentially losing money if you need your funds for an unexpected expense.

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 Sep 15, according to Bankrate's most recent survey of institutions:

CD term CD national average APY
1 year 2.03%
2 year 1.78%
3 year 1.69%
4 year 1.83%
5 year 1.71%
Bankrate logo
BANKRATE EXPERT FAQ

What our industry experts are saying

Taylor Kovar

CFP, founder and CEO of 11 Financial

CD rates are in a sweet spot right now, but that window may not stay open for long. The Fed is signaling cuts could be coming, and when that happens, banks will waste no time lowering what they pay. If you’re looking for a safe place to park your money, this is probably one of the better moments to lock in before the floor drops.

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

The Fed’s signaling just two small rate cuts this year, which means there’s still a window to lock in today’s higher CD yields, but it’s closing quickly. If you already have a CD, your rate is locked until it matures, so no need to worry. If you’ve been considering opening one, now’s the time to act. Grabbing a competitive yield today could help you stay ahead before rates start to dip.

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 4.00%
Bank of America 7-month 4.15%
Wells Fargo 7-month 3.75%
PenFed Credit Union 15-month 3.20%

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 Aug. 31.

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 4.25% APY $1,000
Texas Capital Bank 4.25% APY $1,000
WebBank 4.25% APY $2,500
Institution APY Min. deposit
Bread Savings 4.45% APY $1,500
Marcus by Goldman Sachs 4.40% APY $500
LimelightBank 4.30% APY $1,000
Institution APY Min. deposit
Morgan Stanley Private Bank 4.25% APY No minimum
WebBank 4.25% APY $2,500
The Federal Savings Bank 4.25% APY $5,000
Institution APY Min. deposit
First Internet Bank of Indiana 3.97% APY $1,000
The Federal Savings Bank 3.95% APY $5,000
M.Y. Safra Bank 3.91% APY $500
Institution APY Min. deposit
First Internet Bank of Indiana 3.97% APY $1,000
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 Sept. 8 and Sept. 14. 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.

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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

Written by: Karen Bennett, Senior Consumer Banking Reporter

Karen is a senior consumer banking reporter with three decades of writing experience, including in the financial services industry. Topics she's covered include savings accounts, CDs, budgeting and emergency funds, as well as legislation and government regulation. In addition to Bankrate, her work has also appeared in USA Today, Illinois Legal Times and various newspapers in Chicago, Milwaukee and Washington, D.C. Karen is a member of the Society for Advancing Business Editing and Writing (SABEW) and has an M.A. in Journalism from Columbia College Chicago.

Read more from Karen Bennett

Written by: Matthew Goldberg, Senior Consumer Banking Reporter

Matthew is a senior consumer banking reporter with more than two decades of journalism and financial services expertise, helping readers make informed decisions about their personal finance needs. His banking career includes being a banker in New York City and a bank officer at one of the nation's largest banks. Matthew is currently a member of the Board of Governors at the Society for Advancing Business Editing and Writing (SABEW), chairing its training member engagement committee and is co-chair of its Finance Committee.

Read more from Matthew Goldberg

Edited by: Marc Wojno, Senior Editor, Banking

I’ve been a personal finance writer and editor for more than two decades specializing in money management, deposit accounts, investing, fintech and cryptocurrency. Throughout the years of crunching numbers and words, I’ve been passionate about helping readers make informed decisions on managing their money with uniquely helpful advice. I have an MBA from George Washington University, and am an active member of both the National Press Club and SABEW, where I’ve volunteered as a judge for their respective journalism awards programs. Recently, I was elected Treasurer of the Society of Professional Journalists’ SDX Foundation (Washington, DC chapter), raising scholarship money for aspiring young journalists.

Read more from Marc Wojno

Reviewed by: Greg McBride, CFA, Chief Financial Analyst, Bankrate

Greg McBride is a CFA charterholder with more than a quarter-century of experience analyzing banking trends and personal finance. As Bankrate's Chief Financial Analyst, he leads the team that researches and provides guidance on savings vehicles, from high-yield savings accounts to CDs. Through Bankrate.com's Money Makeover series, he has helped consumers develop their saving habits, maximize their returns on deposit accounts, and make smart decisions about where to keep their cash. He is frequently quoted by major media outlets on banking trends and Federal Reserve policy impacts on deposit rates.

Read more from Greg McBride

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.

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