With interest rates holding at multi-year highs, banks and credit unions are rolling out CD offers that look more like a hot new trend than a dusty financial tool. We’re talking yields above 4.5% APY, putting traditional savings accounts to shame.
If you’ve been waiting for the right moment to park your cash, this might be it. Think of it as your chance to lock in today’s best deals before rates cool down again.
Why Everyone’s Talking About CDs Again
Here’s the scoop: while the Federal Reserve has kept benchmark rates steady, big players like Marcus by Goldman Sachs, Capital One, and Discover have surprised savers by nudging CD rates upward. Marcus now offers a 13-month no-penalty CD at around 4.15%, while Capital One and Discover hover near 4.20% for 6-month terms. It’s unusual to see banks raising rates in a flat environment, and it’s catching savvy savers’ attention.
The Best CD Deals Right Now (as for August 2025)
We combed through the latest offers, and here’s where you’ll find the best bang for your buck:
Short-Term Wins (3–6 Months)
- Morgan Stanley Private Bank (via E*TRADE): 6-month CD at 4.45% APY, no minimum deposit.
- LimelightBank: 6-month CD at 4.45% APY, $1,000 minimum.
- Bread Savings: 6-month CD at 4.45% APY, $1,500 minimum.
Perfect for anyone who wants to keep their money tied up for only half a year, while still enjoying strong returns.
1-Year Favorites
- LimelightBank: 1-year CD at 4.30% APY, $1,000 minimum.
- Bask Bank, WebBank, and others hover in the 4.25–4.30% APY range.
These are the “sweet spot” picks if you want steady growth without committing for too long.
Top Yield Alert
- Connexus Credit Union: Currently leading the pack with a 4.60% APY on a 7-month CD. Yes, that’s higher than what you’ll find at most big banks.
No-Penalty Flexibility
Not ready to lock yourself in? No-penalty CDs give you freedom with impressive rates:
- Climate First Bank: 4.34% APY, 6 months, $500 minimum.
- Farmers Insurance Federal CU: 4.25% APY, 9 months, $1,000 minimum.
- Sallie Mae Bank: 4.20% APY, 14 months, only $1 to get started.
- Marcus by Goldman Sachs: 4.15% APY, 7 months, $500 minimum.
These are great if you’re worried about needing access to your money—or if you want to jump ship later for an even better deal.
Lifestyle Fit: Which CD Matches You?
- The Planner: Go for a 1-year CD and enjoy predictability.
- The Opportunist: No-penalty CDs keep your options open if rates move.
- The Maximizer: That Connexus 4.60% offer is hard to ignore if you’re after the highest yield today.
- The Minimalist: Sallie Mae’s $1 minimum CD means anyone can join the party.
Why It Matters Now
Here’s the kicker: many analysts expect the Fed to cut rates later in 2025. That means today’s 4%+ yields might not stick around. Locking in now could secure you returns that outshine inflation and keep your savings working harder.
Final Word
CDs may not be flashy, but right now, they’re delivering some of the most competitive returns you’ll find in the market—without the stock market stress. Whether you want short-term growth, flexible access, or the absolute best yield, there’s a CD that fits your financial lifestyle.
