Best CD Rates for August 27, 2025: Up to 4.60%
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Strict editorial guidelines to ensure fairness and accuracy in our coverage to help you choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.
More than 100 financial institutions surveyed by our team of experts.
More than 50 data points considered for each bank and credit union to be eligible for our lists. For this CD list, more than five data points were considered per institution.
Certificates of deposit (CDs) let you lock in fixed rates that can be higher than regular savings accounts have. CDs offer guaranteed returns over a period of your choosing from a few months to several years. The best CD rates today — August 27, 2025 — are around mid-4%. Top offers include:
Connexus Credit Union, 7-month certificate: 4.60% APY.
NASA Federal Credit Union, 9-month certificate: 4.45% APY.
Bread Savings, 6-month CD: 4.45% APY.
E*TRADE, 6-month CD: 4.45% APY.
See the best CD rates across term lengths below. Scroll down to explore the best banks for multiple CDs and to learn more about certificates.
APYs shown are current as of August 27, 2025. All other information is current as of July 28, 2025.
Nerdy Tip
The Fed hasn’t changed its benchmark interest rates so far this year. This means that excellent interest rates are still available on CDs.
Best CD Rates for August 27, 2025: Up to 4.60%
Marcus by Goldman Sachs High-Yield CD
APY
4.40%
Minimum deposit
Min. deposit
$500
Term
6mo
NerdWallet's take
Marcus by Goldman Sachs is the online consumer bank that’s part of Goldman Sachs. It offers a variety of term lengths and types of CDs. The opening minimum of $500 is low. Most CD rates are generally competitive.
Pros
Has wide range of competitive APYs.
Offers no-penalty and bump-up CDs.
Low minimum deposit.
Cons
You can find higher APYs for some terms elsewhere.
Discover® CD
APY
3.50%
Minimum deposit
Min. deposit
$0
Term
6mo
NerdWallet's take
The credit card issuer is also an online bank, which has a robust set of CDs. Discover has one of the widest ranges of CD terms among online banks and requires no opening minimum. Rates tend to be above average.
Pros
Wide range of CD terms.
No minimum deposit.
Cons
You can find higher APYs for multiple terms elsewhere.
Synchrony Bank CD
APY
4.25%
Minimum deposit
Min. deposit
$0
Term
15mo
NerdWallet's take
The online bank has one of the largest number of high-yield CD terms, particularly between one and two years. There are also no-penalty and bump-up CDs. Yields tend to vary in competitiveness.
Pros
Has wide range of competitive APYs.
No minimum deposit.
Offers no-penalty and bump-up CDs.
Cons
You can find higher APYs for some terms elsewhere.
Bread Savings® CD
APY
4.45%
Minimum deposit
Min. deposit
$1,500
Term
6mo
NerdWallet's take
The online bank Bread Savings® has a competitive lineup of CDs. But the opening minimum of $1,500 is a little higher than average.
Pros
Has consistently competitive APYs.
Wide range of CD terms.
Cons
Somewhat high minimum deposit.
LendingClub CD
APY
4.25%
Minimum deposit
Min. deposit
$500
Term
14mo
NerdWallet's take
This online bank has most common CD terms with above average yields, and the minimum deposit of $500 is low. The maximum penalty for withdrawing early is six months of interest, which is fairly low. The bank lacks a four-year term.
Pros
Has some high APYs.
Low minimum deposit.
Early withdrawal penalties are on the lower end.
Cons
You can find higher APYs for multiple terms elsewhere.
Discover® CD
APY
3.60%
Minimum deposit
Min. deposit
$0
Term
3yr
NerdWallet's take
The credit card issuer is also an online bank, which has a robust set of CDs. Discover has one of the widest ranges of CD terms among online banks and requires no opening minimum. Rates tend to be above average.
Pros
Wide range of CD terms.
No minimum deposit.
Cons
You can find higher APYs for multiple terms elsewhere.
Alliant Credit Union Certificate
APY
4.00%
Minimum deposit
Min. deposit
$1,000
Term
1yr
NerdWallet's take
The online credit union Alliant has a strong lineup of certificates, a robust selection of terms, IRA and jumbo options, and a fairly low minimum of $1,000. But the credit union doesn’t offer no-penalty or bump-up CDs. Membership is available nationwide by joining Alliant’s nonprofit partner at no cost to you.
Pros
Wide range of competitive APYs.
Somewhat low minimum deposit.
Cons
Lacks no-penalty and bump-up certificates.
Bread Savings® CD
APY
3.85%
Minimum deposit
Min. deposit
$1,500
Term
3yr
NerdWallet's take
The online bank Bread Savings® has a competitive lineup of CDs. But the opening minimum of $1,500 is a little higher than average.
Pros
Has consistently competitive APYs.
Wide range of CD terms.
Cons
Somewhat high minimum deposit.
E*TRADE Certificate of Deposit
APY
4.25%
Minimum deposit
Min. deposit
$0
Term
1yr
NerdWallet's take
The online investing platform, owned by Morgan Stanley Private Bank, has a digital banking platform that includes a decent selection of competitive high-yield CDs. Funding a CD in the first 10 days comes with a guarantee that you get the highest rate within that period. But the penalties for early withdrawals, which go up as high as 15 months of interest, are far higher than the maximum at some banks. Note that these CDs differ from E*TRADE’s brokered CDs, which are also available. Brokered CDs are more like bonds in that you can buy and either sell early or hold to maturity.
Pros
Has mostly competitive APYs.
No minimum deposit.
Cons
Early withdrawal penalties are on the higher end.
E*TRADE Certificate of Deposit
APY
4.45%
Minimum deposit
Min. deposit
$0
Term
6mo
NerdWallet's take
The online investing platform, owned by Morgan Stanley Private Bank, has a digital banking platform that includes a decent selection of competitive high-yield CDs. Funding a CD in the first 10 days comes with a guarantee that you get the highest rate within that period. But the penalties for early withdrawals, which go up as high as 15 months of interest, are far higher than the maximum at some banks. Note that these CDs differ from E*TRADE’s brokered CDs, which are also available. Brokered CDs are more like bonds in that you can buy and either sell early or hold to maturity.
Pros
Has mostly competitive APYs.
No minimum deposit.
Cons
Early withdrawal penalties are on the higher end.
ON THIS PAGE
Best CD rates at top banks for August 2025
NerdWallet reviewed the institutions below and rated them highly for their overall CD offerings. That means that the CDs have competitive rates across multiple traditional term lengths, and are available nationwide.A key advantage to getting CDs from one of these institutions is the ability to open several high-yield certificates as part of a CD ladder, which is a type of savings strategy. See the best banks and credit unions for CDs below.Launched in 2016, the online bank Marcus by Goldman Sachs offers an extensive lineup of CDs. Its one-year CD has an APY of 4.20% APY (annual percentage yield) as of 07/22/2025. Funding within the first 10 days guarantees that you'll get the highest rate for the term offered in that period. The minimum deposit requirement of $500 is low compared to other online banks. Early withdrawal penalties are lower than at some competitors. The bank also has two specialty CDs, which have rare perks: Bump-up CDs let you request a rate increase if APYs go up, and no-penalty CDs give you the ability to redeem a certificate earlier than maturity at no cost.
Pros and Cons
Pros
Has wide range of competitive APYs.
Offers no-penalty and bump-up CDs.
Low minimum deposit.
Cons
You can find higher APYs for some terms elsewhere.
Full List of CD Rates
| Term | APY | Min Deposit |
|---|---|---|
| 6 months | 4.40% | $500 |
| 7 months no-penalty | 4.15% | $500 |
| 9 months | 4.30% | $500 |
| 11 months no-penalty | 3.90% | $500 |
| 1 year | 4.20% | $500 |
| 13 months no-penalty | 4.15% | $500 |
| 1.5 years | 4.00% | $500 |
| 20 months bump-up | 3.90% | $500 |
| 2 years | 3.95% | $500 |
| 3 years | 3.90% | $500 |
| 4 years | 3.85% | $500 |
| 5 years | 3.90% | $500 |
| 6 years | 3.90% | $500 |
Started in 2016, Popular Direct is the online branch of the New York-chartered Popular Bank. Its opening minimum requirement of $10,000 is one of the highest among online banks. Early withdrawal penalties tend to be steep, such as two years of interest for a five-year CD. Rates tend to be consistently competitive.
Pros and Cons
Pros
Has consistently competitive APYs.
Wide variety of terms.
Cons
High minimum deposit.
Full List of CD Rates
| Term | APY | Min Deposit |
|---|---|---|
| 3 months | 4.30% | $10,000 |
| 6 months | 4.20% | $10,000 |
| 1 year | 4.15% | $10,000 |
| 1.5 years | 4.05% | $10,000 |
| 2 years | 4.00% | $10,000 |
| 3 years | 4.00% | $10,000 |
| 4 years | 4.00% | $10,000 |
| 5 years | 4.05% | $10,000 |
You don't have to be a NASA employee to join the NASA Federal Credit Union. One way to join is by agreeing to a temporary and free one-year membership to the National Space Society. NASA FCU’s share certificates have competitive rates and variety, including bump-up options which allow for a rate increase if APYs go up. Penalties for withdrawing early are somewhat steep. Most terms require a relatively low minimum of $1,000, but some irregular terms have a high minimum of $10,000, along with higher rates.
Pros and Cons
Pros
Has consistently competitive APYs.
Somewhat low minimum deposit for most terms.
Offers bump-up certificates.
Cons
High minimum deposit for some terms.
Full List of Certificate Rates
| Term | APY | Min Deposit |
|---|---|---|
| 6 months | 4.30% | $1,000 |
| 9 months | 4.45% | $10,000 |
| 1 year | 4.10% | $1,000 |
| 15 months | 4.24% | $10,000 |
| 2 years | 3.90% | $1,000 |
| 2 years bump-up | 3.80% | $1,000 |
| 3 years | 4.00% | $1,000 |
| 3 years bump-up | 3.90% | $1,000 |
| 4 years | 4.05% | $1,000 |
| 49 months | 4.20% | $10,000 |
| 5 years | 4.07% | $1,000 |
This bank, as its name suggests, is one of the earliest online banks, created in 1999. Its full name is First Internet Bank of Indiana, though the bank operates nationwide. The bank’s CD rates tend to be consistently competitive for short and long CD terms. The minimum to open is fairly low. But its penalty for withdrawing early from a CD tends to be steep compared to some other banks. The cost of withdrawing early from a CD shorter than one year is effectively all the interest earned. Longer terms have either a half or full year’s worth of interest as a penalty.
Pros and Cons
Pros
Has consistently competitive APYs.
Somewhat low minimum deposit.
Cons
Early withdrawal penalties are on the higher end.
Full List of CD Rates
| Term | APY | Min Deposit |
|---|---|---|
| 3 months | 3.61% | $1,000 |
| 6 months | 4.28% | $1,000 |
| 1 year | 4.19% | $1,000 |
| 1.5 years | 3.90% | $1,000 |
| 2 years | 3.82% | $1,000 |
| 3 years | 3.97% | $1,000 |
| 4 years | 3.97% | $1,000 |
| 5 years | 3.97% | $1,000 |
E*TRADE is an online investing platform owned by Morgan Stanley Private Bank. Its digital banking platform includes a decent selection of competitive high-yield CDs. Funding a CD in the first 10 days comes with a guarantee that you get the highest rate within that period. But the penalties for early withdrawals, which go up as high as 15 months of interest, are far higher than the maximum at some banks. Note that these CDs differ from E*TRADE’s brokered CDs, which are also available. Brokered CDs are more like bonds in that you can buy and either sell early or hold to maturity.
Pros and Cons
Pros
Has mostly competitive APYs.
No minimum deposit.
Cons
Early withdrawal penalties are on the higher end.
Full List of CD Rates
| Term | APY | Min Deposit |
|---|---|---|
| 6 months | 4.45% | $0 |
| 9 months | 4.35% | $0 |
| 1 year | 4.25% | $0 |
| 1.5 years | 4.10% | $0 |
| 2 years | 4.10% | $0 |
| 3 years | 4.10% | $0 |
| 5 years | 4.20% | $0 |
Originally a government student loan servicer until 2014, Sallie Mae is now an online bank and private student loan provider. The bank’s CD rates tend to be fairly competitive, though the minimum deposit of $2,500 is on the higher end. There are more terms between one and two years than usual.
Pros and Cons
Pros
Has mostly competitive APYs.
Decent range of terms.
Cons
Somewhat high minimum deposit.
Full List of CD Rates
| Term | APY | Min Deposit |
|---|---|---|
| 6 months | 4.30% | $2,500 |
| 9 months | 3.90% | $2,500 |
| 11 months | 4.10% | $2,500 |
| 1 year | 4.10% | $2,500 |
| 13 months | 4.30% | $2,500 |
| 15 months | 4.40% | $2,500 |
| 1.5 years | 3.80% | $2,500 |
| 2 years | 4.10% | $2,500 |
| 2.5 years | 3.70% | $2,500 |
| 3 years | 4.00% | $2,500 |
| 5 years | 4.00% | $2,500 |
August 2025 news about the best CD rates
Where CD rates are: The best CD rates right now remain high, ranging from 3.50% to around 4.50% APY across various terms, based on NerdWallet analysis. The best short-term CDs, such as three months to one year, still have the highest rates.
Where CD rates are going: Small fluctuations. After little rate movement in May and June, some banks lifted their rates in July to better compete. Others lowered rates, but the highest yields in the market remain mostly unchanged. Banks and credit unions tend to follow the direction of the Federal Reserve’s benchmark rates when determining their CD rates. In 2024, CD rates started to fall when the Fed cut its rates, but since then the Fed has kept rates steady. Recent tariffs and other factors that may contribute to inflation have led to more economic uncertainty in 2025. The Fed’s overall strategy is to slowly lower its rate as inflation goes down. Learn more about where rates are headed in our CD rate forecast.
Fed rate news: Federal Reserve Chair Jerome Powell made a speech on August 22, 2025, that hints at an upcoming Fed rate cut.
Given that “downside risks to employment are rising” alongside the threat of higher inflation, Powell said that “the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.”
The Fed is set to announce its rate decision after its next meeting concludes on September 17, 2025. If the Fed does cut rates, CD APYs are likely to follow suit and fall.
Examples of recent CD rate changes:
August 15, 2025:
EverBank raised the rate on its 13-month CD (4.10% to 4.30%).
FourLeaf Federal Credit Union lowered the rate on its five-year share certificate (4.00% to 2.75%).
August 6, 2025:
Newtek Bank lowered six of its CD rates, ranging from drops of 0.15 percentage points to 0.40. Example: Its nine-month CD (4.40% to 4.00%).
August 4, 2025:
Popular Direct lowered five of its CD rates, mostly by 0.05 percentage point. Example: Its five-year CD (4.20% to 4.15%).
August 1, 2025:
NASA Federal Credit Union lowered nine of its share certificate rates, ranging from drops of 0.05 percentage points to 0.14. Example: Its nine-month share certificate (4.59% to 4.45%).
July 17, 2025:
First Internet Bank lowered five of its CD rates, each by 0.10 or 0.11 percentage points. Example: Its six-month CD (4.39% to 4.28%).
July 15, 2025:
E*TRADE raised all seven of its CD rates, each by 0.10, 0.20 or 0.30 percentage points. Example: Its six-month CD (4.15% to 4.45%).
July 3, 2025:
Sallie Mae lowered the rate on its 11-month CD (4.35% to 4.15%) and raised two other rates: its three-year CD (3.40% to 4.00%) and its five-year CD (3.80% to 4.00%).
July 1, 2025:
NASA Federal Credit Union raised three of its share certificate rates, each by at least 0.20 percentage points. Example: Its nine-month share certificate (4.39% to 4.59%).
The right time for CDs ultimately depends on your savings goals, but if you’re in the market for them, consider locking in high CD rates while they last.
Last updated on August 27, 2025
Methodology
On a monthly basis, we compare rates at over 45 financial institutions, pulled from our full list, that we’ve seen to be consistently competitive. On a quarterly basis, we analyze our full list, excluding banks that offered brokered CDs, since those accounts work differently from standard bank CDs. Higher rates might be available elsewhere.
We took a close look at over 100 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Amalgamated Bank, America First Credit Union, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Barclays, Bask Bank, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings®, BrioDirect, Capital One, Carver Federal Savings Bank, CFG Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, Climate First Bank, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Delta Community Credit Union, Discover® Bank, E*TRADE, EverBank, Fifth Third Bank, First Foundation, First Internet Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, Global Credit Union, GO2bank, Golden 1 Credit Union, Greenwood, Hope Credit Union, Huntington Bank, Ivy Bank, Jenius Bank, KeyBank, Lake Michigan Credit Union, Laurel Road Bank, LendingClub Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, OMB Bank, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo, Western Alliance Bank and Zynlo Bank.
Frequently asked questions
Which banks have the best CD rates?
Online banks such as Popular Direct and credit unions such as NASA Federal Credit Union tend to offer some of the most competitive rates, especially compared to national averages.
Are CDs safe?
Yes. Most banks and credit unions insure your money in a CD up to $250,000 per person per account type, such as single-owned and joint accounts. See more details about how CDs are FDIC insured. Plus, your returns are guaranteed as long as you don’t withdraw early, in which case you may have to pay a penalty.
Are CDs worth it?
Certificates of deposit require more of a commitment than a regular savings account since you're locking away some savings for a future date. This feature can be helpful for some goals but not for others, such as emergency savings, since you’ll want that money to be easy to access when you need it. While CDs have the perks of fixed rates and higher yields traditionally than other bank accounts, withdrawing from CDs early usually results in a penalty. Take a closer look at when CDs are worth it.
Do you pay taxes on CD interest?
Yes. Interest earned in CDs is taxable as interest income. Your bank or credit union will usually give you a Form 1099-INT that states the interest each year, unless the amount is under $10. The IRS notes that you generally include interest from CDs when you receive it, regardless of when the CD matures. So for CDs with terms longer than a year, the portion of interest earned each year gets reported and counted as taxable income.
What is APY on a CD?
A CD rate is quoted as an annual percentage yield, or APY, which is how much the account earns in one year including compound interest. Banks generally compound interest monthly or daily. A CD’s term plays a role too: the longer the term, the higher the rate generally. APYs are not the same thing as interest rates since APYs have compounding factored in, making APYs more useful for comparing CDs’ potential returns. Learn more about APY vs. interest rate.
Do CDs have fees?
CDs don’t have monthly fees like checking or savings accounts might have, but they generally have a penalty if you withdraw before the CD term expires. This early withdrawal penalty tends to be several months’ to years' worth of interest, so it’s usually best to wait to access funds from a CD once it expires. The exception is no-penalty CDs.
Can you lose money on a CD?
It’s highly unlikely, but possible. Here are three scenarios:
If you withdraw early, the penalty can be steep enough at some banks to dig into the initial amount you put into a CD.
If you put more money into a CD than FDIC insurance covers – such as $250,000 for a single account owner at a bank – and the bank fails, you could possibly lose the amount not covered by the FDIC.
If inflation stays higher than your CD’s rate, the CD’s returns might not be enough to overcome the way inflation erodes purchasing power over time.
Are 10-year CD rates worth it?
The general rule of thumb for CDs is the longer the term, the higher the rate. However, this isn't always true. The best 10-year CD rates aren't necessarily higher than the best five-year CD rates, and locking up your money for a decade might not be in your best interest. Consider current CD rates as well as your savings goals — investing your money in mutual funds might be more worthwhile for a longer term.
» MORE: See the best short-term investments for 5 years or less