Today’s CD Rate, February 17, 2025 (Lock-in to 4.40% APY)

The Federal Reserve reduced its target interest rate three times in 2024. This had a ripple effect on the deposit account fee. Deposit certificate (CD). Check out today’s CD rates and where you can find the best offers.

As of February 17, 2025, CD rates are still competitive. For example, some financial institutions offer approximately 4.00% APY at CD rates for conditions of less than about a year. Long-term CD rates aren’t that high, but the top offer hovering around 3.00% to 4.00% APY over 3 years or more.

Today, Nexbank offers the highest CD rate of 4.40% APY on CDs for a year. There is a minimum operating deposit of $25,000 required.

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If you are considering CDs, these charges are some of the best available rates, especially compared to the national average rates. That’s also worth noting Online Bank and Credit Union They usually offer more competitive rates compared to traditional brick and mortar banks.

read more: What is a good CD rate?

Check out the average CD rate per period as of January 2025 (from the latest available data: fdic):

The highest national average interest rate for CDS is 1.82% for a one-year term. However, in general, today’s average CD rates represent some of the best we’ve seen in nearly 20 years. This is largely due to the Federal Reserve efforts to combat inflation by raising interest rates.

If you’re thinking Open the CDIt is important to choose one with a high APY and term length that matches your financial goals. Below are some tips for finding the best CD rate and account that suits your needs.

• Shopping: It is recommended to evaluate CD rates from various financial institutions and compare options before setting off on your account. Compare CD rates easily online.

• Consider online banking: Online banks tend to reduce fictitious costs, which allows them to offer higher interest rates on CDs. In fact, online banks often have the most competitive rates available.

• Check minimum deposit requirements: If your CD rate is high, you may have a high minimum deposit requirement, so make sure the amount you plan to deposit matches your requirements and get the best rate.

• Check your account terms: Exceed the CD rate and check the terms of the early withdrawal penalty and automatic renewal policy. Some CDs offer better terminology for flexibility Penalty CDyou can withdraw funds at no charge before maturity.