High CD Rates Today, February 23, 2025 (up to 4.40% APY)
CD rates vary widely across financial institutions, so it’s essential to ensure you’re getting the best rate possible when shopping around for a CD. The current highest CD rate is 4.40% APY offered by NexBank on its 1-year CD, requiring a minimum opening deposit of $25,000. This rate environment has shifted from longer-term CDs offering higher interest rates to shorter-term CDs now commanding better returns.
- In this new CD landscape, consumers can capitalize on higher interest rates across various term lengths and even consider alternative CD types like brokered or jumbo CDs that may offer more flexibility but also come with varying levels of risk.
- How will the increasing popularity of online banks and digital platforms for accessing CDs impact the overall consumer experience and competition in the banking industry?