What is the highest paying CD rate right now?

Daniels-Sheridan Federal Credit Union is currently offering the best rate at 5.11% for a 12-month CD.

What should you consider when choosing a CD?

When selecting a CD, consider factors like: Term length Interest rate Minimum deposit requirements Early withdrawal penalties CDs are generally safer investments, but many have an early withdrawal penalty if you access the funds before it matures. This reduces the overall return you could receive from the CD.

Are there any 6% CDs?

Currently, the top CD rate available today is 5.11% APY. While 6% APYs aren’t available in the current market, limited-time promotions do pop up occasionally so it’s a good idea to check back regularly to catch the most competitive rates.

Can you lose money on a CD?

It’s rare, but you can lose money if the bank or credit union isn’t FDIC- or NCUA-insured, or if the CD is tied to the market and the value drops.

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Best CD Rates Today: October 8, 2025 — Earn Up to 5.11% APY

October 8, 2025

7 min Read

Written by Rudri Patel

Edited by Elizabeth Constantineau

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Looking for the best certificate of deposit (CD) rates today? As of Oct. 8, 2025, Daniels-Sheridan Federal Credit Union is offering the best rate at 5.11% annual percentage yield (APY) for a 12-month CD. A minimum deposit of $500 is required.

CDs remain a low-risk way to grow your savings. Below, you’ll find the best CD rates by type, term length and category, plus tips for choosing the right one for your savings goals.

Key Takeaways

Highest CD rate today: Daniels-Sheridan Federal Credit Union’s 1-year CD at 5.11% APY

Best CD type for flexibility: Ponce Bank’s 4-month no-penalty CD at 4.10% APY

Best choice for large deposits: Hughes Federal Credit Union’s 17-month jumbo CD at 4.29% APY on balances of $99,000 or more

CD rates outlook: With the Fed signaling more rate cuts, CD yields may begin to slip — making now a good time to lock in higher APYs.

Best CD Rates for Oct. 8, 2025

From short-term to jumbo, here are some of the best CD rates available right now.

Best For	Institution	Term	APY	Minimum Deposit
Overall rate	Daniels-Sheridan Federal Credit Union	1 year	5.11%	$500
Short-term CD	Ivy Bank	3 months	4.35%	$1,000
Long-term CD	KS State Bank	7 years	4.10%	$500
No-penalty CD	Ponce Bank	4 months	4.10%	$1
Jumbo CD	Hughes Federal Credit Union	17 months	4.29%	$99,000

Best CD Rates by Type

From short-term CDs to jumbo deposits, these are the top CD rates by account type right now.

Best Short-Term CD Rates

Short-term CDs — three to six months — offer quick returns and keep your savings flexible while still earning competitive yields.

Term	Institution	APY	Minimum Deposit
3 months	Ivy Bank	4.35%	$1,000
3 months	Dow Credit Union	4.15%	$500
6 months	Colorado Federal Savings Bank	4.35%	$5,000
6 months	United Fidelity Bank	4.35%	$1,000

Best Jumbo CD Rates

Got a large deposit? Jumbo CDs often pay higher APYs on $50,000 or more. These are the best jumbo CD rates today for high-balance savers.

Term	Institution	APY	Minimum Deposit
17 months	Hughes Federal Credit Union	4.29%	$99,000
5 years	Advancial	4.23%	$50,000
6 months	My eBanc	4.20%	$50,000
4 months	Princeton Federal Credit Union	4.14%	$100,000

Best No-Penalty CD Rates

No-penalty CDs give you the freedom to withdraw funds early without fees. Here are the best no-penalty CD rates today.

Term	Institution	APY	Minimum Deposit
4 months	Ponce Bank	4.10%	$1
11 months	Marcus by Goldman Sachs	3.95%	$500
13 months	Marcus by Goldman Sachs	3.95%	$500
11 months	USALLIANCE Financial	3.90%	$500

Best 1-Year CD Rates

One-year CDs balance solid APYs with a shorter commitment. The best 12-month CD rates today are well above the national average of 1.70%.

Term	Institution	APY	Minimum Deposit
1 year	Daniels-Sheridan Federal Credit Union	5.11%	$500
1 year	Ponce Bank Direct	4.25%	$1,000
1 year	Home Savings Bank	4.20%	$10,000
1 year	Limelight Bank	4.20%	$1,000

Best Long-Term CD Rates

Long-term CDs, generally three years or more, reward savers with higher APYs for keeping funds locked in over a longer period.

Term	Institution	APY	Minimum Deposit
3 years	Credit Union of Atlanta	4.35%	$500
4 years	Credit Union of Atlanta	4.35%	$500
5 years	Copper Basin Federal Credit Union	4.33%	$1,000
6 years	First National Bank of America	3.90%	$1,000
7 years	KS State Bank	4.10%	$500

How Much Can You Earn With a CD Right Now?

A $10,000 deposit in a one-year CD earning 5.11% APY will generate $511 in interest by the end of the term. These earnings are substantially more than what a standard checking or traditional savings account offers.

Here’s a chart comparing different deposit amounts and what you could earn after one year and then five years.

Deposit Amount	1-Year at 5.11% APY	5-Year at 5.11% APY
$1,000	$51.10	$282.98
$5,000	$255.50	$1,414.90
$10,000	$511	$2,829.81
$20,000	$1,022	$5,659.62
$25,000	$1,277.50	$7,074.52

CD Rate Outlook: Where Rates Could Go Next

The Federal Reserve lowered interest rates for the first time this year and signaled that more cuts may be coming. As the Fed explained in its September statement, “the Committee decided to lower the target range for the federal funds rate by 0.25% to 4% – 4.25% in light of the shift in the balance of risks.”

That means CD rates could start slipping from the recent highs. Short-term CD rates could see the biggest changes, while long-term rates might stay steadier — but still lower than before.

As Experian puts it, “interest rates on CDs have been gradually declining since September 2024, and they’re expected to continue dropping as 2025 comes to a close.”

If you’re considering opening a CD, now could be a good time to lock in. With rates hovering between 4% and 5%, it may be near the peak of this rate cycle.

Final Take: Should You Open a CD Account Today?

If you’re considering investing in a CD, reflect on what works best for your financial strategy.

Looking for guaranteed returns? A short-term CD can secure a higher APY and give you the option to invest in another CD if rates rise again.
Don’t need liquidity? If you don’t need cash, a long-term CD is a good way to grow your funds.
Want flexibility? A no-penalty CD lets you earn interest while still allowing early access to funds.

Pro Tip

Consider CD laddering — a strategy where you split your savings across multiple CDs with staggered maturity dates. This allows you to earn higher rates on longer-term CDs while still giving you periodic access to cash when each CD matures.

Glossary of CD Terms

Understanding these common CD terms can help you make smarter choices when comparing accounts and rates.

Add-on CD: With an add-on CD, you can make subsequent deposits after your initial funding. A standard CD, on the other hand, limits you to one deposit at the beginning of the term.
Brokered CD: This CD type is issued by a bank, but sold through a brokerage firm like Fidelity. These CDs can offer higher rates or a wider selection of terms than what’s typically available at a local bank.
Bump-up CD: During the term of a bump-up CD, account holders can increase their APY without changing the term. Typically, only one bump-up is allowed. These CDs are also known as “raise-your-rate” CDs.
Early withdrawal penalty: When you invest in a CD, you’re locked in for a specific term. Unless you have a no-penalty CD, you will incur an early withdrawal penalty if you withdraw funds before the maturity date.
No-penalty CD: This is a special type of CD that will not penalize you for withdrawing funds prior to the maturity date.
Share certificate: A share certificate is issued by a credit union. Typical CD accounts are usually issued by banks.

CD Rates FAQ

Got questions about CD accounts? Here’s what savers are asking most right now.

What is the highest paying CD rate right now?
- Daniels-Sheridan Federal Credit Union is currently offering the best rate at 5.11% for a 12-month CD.
What should you consider when choosing a CD?
- When selecting a CD, consider factors like:
  - Term length
  - Interest rate
  - Minimum deposit requirements
  - Early withdrawal penalties
- CDs are generally safer investments, but many have an early withdrawal penalty if you access the funds before it matures. This reduces the overall return you could receive from the CD.
Are there any 6% CDs?
- Currently, the top CD rate available today is 5.11% APY. While 6% APYs aren’t available in the current market, limited-time promotions do pop up occasionally so it’s a good idea to check back regularly to catch the most competitive rates.
Can you lose money on a CD?
- It’s rare, but you can lose money if the bank or credit union isn’t FDIC- or NCUA-insured, or if the CD is tied to the market and the value drops.

Compare CD Rates

Methodology: GOBankingRates analyzes deposit rates from banks and credit unions with nationwide availability. The best rates are identified from this group by focusing on APY. Institutions listed in the daily chart are insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.

Financial institutions may require certain eligibility criteria — such as membership, existing accounts or location-based restrictions — to open an account or qualify for the listed rates. Always verify account terms, conditions and regional availability with the institution before applying.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Oct. 8, 2025.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.