Our Best Online CD Rates of November 2025

What is a CD?

A certificate of deposit, also known as a CD, is a savings product offered by banks and credit unions, which pay a fixed rate of interest if you lock your money away for a set period of time.

As you are agreeing to keep your money with the institution for a pre-determined period, the interest rate on CDs is often more generous than on accounts that enable you to access your money. Unsurprisingly, CDs with longer terms (the amount of time you lock your money away) tend to carry higher interest rates.

In most cases, you’ll pay a penalty if you make a withdrawal from your CD before your product matures (reaches the end of its term). You might, for instance, forfeit a percentage of the interest you have earned.

How do CD Rates work?

When you take out a CD, the rate of interest you receive is normally tied to interest rate decisions made by the Fed. 

When prices for consumers are high and inflation is rising, central banks tend to increase interest rates in an attempt to encourage people to save rather than spend. As a result, interest rates on products such as newly issued CDs will also likely increase. Be aware, however, that this isn’t guaranteed, and CD rates may not rise instantly.

As mentioned above, you’ll need to lock your money away for a set period of time—typically between 3 and 60 months—when you buy a CD.

Although banks and credit unions have different policies on early withdrawal penalties, the amount you pay is often determined by the term of your CD. Longer-term CDs tend to come with higher penalties.

Once your CD has reached its investment term, you can either withdraw your money or reinvest it into another CD.

How Do I Get the Best CD Rates?

Deciding whether or not to buy a CD often depends on if you believe central banks are likely to increase interest rates in the future.

If you believe rates will rise, it might be wise to delay buying a CD until rates have gone down. If the banks are about to cut interest rates, however, it might be a good time to buy a CD and beat upcoming rate reductions by locking in a higher rate.

Buying a CD could also be a good choice if you want a guarantee that you cannot lose money on your savings, as the terms of a CD will state that you will receive a set minimum amount when it matures.

Conversely, a CD might not be appropriate if you may need to draw on your cash during the term of your investment. In this case, you may want to consider a more liquid investment such as an easy-access savings account.

As the terms of CDs vary greatly between different banks and credit unions, it’s essential that you compare as wide a range of products as possible when you’re choosing a CD.

What Are the Types of CDs?

Traditional: This is the most common type of CD and normally comes with a fixed rate of interest, a fixed term, and a minimum deposit.

No-penalty: This type of product will enable you to withdraw your cash without paying a fee. 

Jumbo: These normally have a high minimum deposit requirement and pay a higher return.

IRA: Also known as an individual retirement account, these products can include more than 1 CD, plus other investments. 

Bump-up: These enable you to benefit from any increase the central bank makes to interest rates during the term of your CD. If the rate rises, a bump-up CD enables you to tell your bank you’d like to receive the higher rate.

Set-up: As with a bump-up, a set-up CD enables you to benefit from interest rate increases. However, you won’t need to ask for an increase, as your provider will automatically increase your rate at certain periods.

Add-on CDs: While most CDs restrict you to making 1 deposit, these enable you to make additional contributions. 

Foreign currency: These products link your savings to the value of foreign currencies. Unlike most CDs, they do not offer a guaranteed return.

Brokered: These types of products are available through 3rd parties such as brokerage firms.

Pros and Cons

FAQs

Are CDs safe?

CDs are one of the safest investment options available to investors today. CDs that are offered by FDIC-insured banks are guaranteed by the government itself. CDs allow investors to safely store their savings while also earning a set rate of interest. 

Such guarantees make CDs a safer option than investing in the stock market, where you could lose your entire principal if markets don’t turn in your favor.

Are interest rates going up?

The Fed has increased interest rates regularly since March 2022 from 0.5% to 2.5% to help bring the inflation rate down. It’s stated that interest rates may continue to rise in the future, especially if the inflation rate keeps increasing. This will likely result in an increase in rates on most savings products.

Why choose a CD vs a high-yield savings account?

Although savings accounts often provide more flexibility over when you can access your money, the most competitive CDs pay a far more attractive rate of interest than a conventional savings account. And, although you may potentially earn higher returns on the stock markets, there is also a risk that you could lose your entire investment.

How much will a $5,000 CD make in one year? 

If you place $5,000 in a 12-month CD paying the current interest rate of 0.22% (the current CD average), you would earn $11 in 1 year.

How do I choose a CD term?

When selecting your CD, you should first consider your plans for the money. If you need access to the funds for a specific deadline, you should choose a term that will enable you to tap into your cash by that date. However, you may receive a better rate if you can afford to lock your money away for longer.

Disclaimers

Marcus

*14-month term length is a limited-time offer, available until 12/27/25. Annual Percentage Yield (APY) as of Oct 8th 2025 and could change before your CD is opened and funded Deposit $500 within 10 days of opening to lock in current rate. Penalties that may reduce CD earnings will apply to a withdrawal of principal prior to maturity. Maximum balance limits apply

Raisin

*APY means Annual Percentage Yield. APY is accurate as of January 26, 2025. Interest rate and APY may change after initial deposit depending on the terms of the specific product selected. Minimum opening deposit is $1.00.

Synchrony Bank

Annual Percentage Yield (APY) is subject to change at any time without notice. Offer applies to personal accounts only. Fees may reduce earnings. For High Yield Savings accounts, the rate may change after the account is opened. Visit synchrony.com/banking for current rates, terms and account requirements. Member FDIC.

SoFi Checking and Savings:

*Terms Apply
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.

SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposits will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at http://www.sofi.com/legal/banking-fees/

Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.

Additional FDIC Insurance - SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.

Western Alliance Bank:

*The annual percentage yield (APY) is accurate as of November 6, 2025 and subject to change at the Bank’s discretion. Refer to the product's website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.

Accurate as of the time of publication. The national average rate referenced is from the FDIC’s published National Rates and Rate Caps for Savings deposit products, accurate as of October 20, 2025. See the FDIC website for more information.

American Express National Bank Disclaimer:

1. The Annual Percentage Yield (APY) as advertised is accurate as of Tuesday, November 18th 2025. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. Interest Rate and APY of a Certificate of Deposit account is fixed once the account is funded.

2. There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you.

3. For purposes of transferring funds to or from an external bank, business days are Monday through Friday, excluding federal holidays. Transfers can be initiated 24/7 via the website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business days will begin processing on the next business day. Funds deposited into your account may be subject to holds. See the Funds Availability section of your Consumer Deposit Account Agreement and Savings Schedules for more information.