The Federal Reserve recently reduced interest rates three times in 2024, causing a ripple effect on deposit account rates. This makes today an ideal time to lock in high CD rates. According to recent data from the FDIC, shorter-term CDs offer competitive rates around 4.00% APY, while longer-term rates are lower but still attractive.
As of March 3, 2025, some top offers stand out, including a 14-month CD with a 4.50% APY from Marcus by Goldman Sachs. Online banks and credit unions typically offer more competitive rates than traditional brick-and-mortar banks.
To find the best CD rates, consider shopping around, comparing options online, and considering online banks. Look for high APYs and term lengths that match your financial goals. Higher deposit requirements may come with better rates, but also be aware of account terms, including early withdrawal penalties and auto-renewal policies.
Source: https://finance.yahoo.com/personal-finance/banking/article/cd-rates-today-monday-march-3-2025-110049197.html