Best CD Rates for the Week of February 10, 2025

As of February 10, 2025, numerous banks and credit unions are rolling out some incredibly competitive Certificate of Deposit (CD) rates. This trend makes the present moment one of the best times to lock in high yields before potential rate declines. Let's dive deeper into what some of these institutions are offering!

Top CD Rates by Term

Short-Term CDs (3-12 Months)

3-Month CD: Quontic Bank is leading the pack with an impressive APY of 4.50%, requiring a minimum deposit of just $500.
6-Month CD: Bask Bank tops the charts with a 4.45% APY, with a $1,000 minimum deposit needed to secure this rate.
9-Month CD: Bask Bank and NASA Federal Credit Union are putting up strong offers at 4.50% and 4.34% APY respectively. Bask Bank’s requirement is a $1,000 minimum deposit while NASA does not specify a minimum.
1-Year CD: Several banks are competing with fascinating numbers, including Bask Bank at 4.40% APY, Marcus by Goldman Sachs at 4.30% APY, and E*TRADE at 4.25% APY. Be aware that minimum deposits vary, ranging from $0 up to $10,000 depending on the institution.

Medium-Term CDs (18-36 Months)

18-Month CD: TAB Bank is highlighting a 4.16% APY, with a $1,000 minimum deposit needed.
2-Year CD: Popular Direct leads with a 4.20% APY, though it requires a hefty minimum deposit of $10,000.
3-Year CD: America First Credit Union and NASA Federal Credit Union are offering 4.15% and 4.00% APY respectively, with minimum deposits ranging from $1,000 to none at all.

Long-Term CDs (4-5 Years)

4-Year CD: America First Credit Union shines again with a solid 4.20% APY.
5-Year CD: America First Credit Union and First Internet Bank are offering rates of 4.25% and 3.65% APY respectively, with minimum deposit requirements ranging widely.

Institutions Offering Top CD Rates

Banks

Bask Bank: This institution boasts CDs ranging from 6 months to 2 years with APYs reaching 4.50%. The minimum deposit is set at $1,000.
- APYs: 3.75% – 4.50%
- Minimum Deposit: $1,000
- Terms: 6 months – 2 years

<li><b>Marcus by Goldman Sachs</b>: Known for their competitive rates, Marcus offers a 9-month CD at 4.30% APY with a minimum deposit of $500.
    <ul>
        <li><b>APYs:</b> Up to 4.30%</li>
        <li><b>Minimum Deposit:</b> $500</li>
        <li><b>Terms:</b> Various, including 9-month and 1-year CDs</li>
    </ul>
</li>

<li><b>E*TRADE</b>: E*TRADE’s 1-year CD attracts customers with a 4.25% APY and no minimum deposit needed.
    <ul>
        <li><b>APYs:</b> Up to 4.25%</li>
        <li><b>Minimum Deposit:</b> $0</li>
        <li><b>Terms:</b> Various, including 1-year and 3-year CDs</li>
    </ul>
</li>

Credit Unions

NASA Federal Credit Union: They offer a variety of CDs such as a 9-month Certificate with a 4.34% APY and a 1-year Share Certificate at 4.05% APY. Minimum deposit stands at $1,000.
- APYs: Up to 4.34%
- Minimum Deposit: $1,000
- Terms: Various, including 9-month and 1-year CDs

<li><b>Alliant Credit Union</b>: They are providing a 1-year Certificate at a competitive 4.25% APY with a $1,000 minimum deposit.
    <ul>
        <li><b>APYs:</b> Up to 4.25%</li>
        <li><b>Minimum Deposit:</b> $1,000</li>
        <li><b>Terms:</b> Various, including 1-year and 3-year CDs</li>
    </ul>
</li>

Promotional CD Rates

Many institutions are also presenting promotional CD rates for unique terms, which can be quite enticing:

NBKC Bank: This bank has a 7-month CD at a 4.50% APY and an 11-month CD at 4.25% APY.
NASA Federal Credit Union: They have a 9-month Certificate boasting a 4.34% APY and a 15-month Certificate at 4.14% APY.
Bask Bank: Offers a 9-month CD at 4.50% APY.
Synchrony Bank: Their 13-month CD provides a 4.35% APY.

No-Penalty CD Rates

If you value flexibility, opting for no-penalty CDs may be a viable choice:

Ally Bank: Their 11-month no-penalty CD offers a 3.75% APY with no minimum required to open.
CIT Bank: They present an 11-month no-penalty CD with a 3.50% APY, alongside a $1,000 minimum to start.
Marcus by Goldman Sachs: Their 13-month no-penalty CD is at a 4.15% APY, requiring a $500 minimum deposit.

How Much Can You Earn?

To give you an idea of potential earnings, consider this example based on a $10,000 deposit:

Starting Balance	APY	Interest Earned in 1 Year	Interest Earned in 6 Months (rounded)
$10,000	4.00%	$400	$198
$10,000	4.25%	$425	$210

Utilizing a CD calculator can certainly help you figure out the exact earnings based on different term lengths and APYs.

Conclusion

Given the current economic landscape and the Federal Reserve's steady benchmark rate—which hints at future deductions—now is an opportune time to lock in high CD rates. Here are some vital points to keep in mind:

Lock in High Rates: With leading APYs around 4.50% for short-term CDs, it’s wise to secure these rates before they potentially decrease.
Choose the Right Term: While shorter terms are currently offering higher yields, longer terms can still provide stronger returns due to the magic of compounding.
Consider No-Penalty CDs: If you prioritize flexibility, opt for no-penalty CDs which balance high returns with the ability to access your cash without penalties.

For further details and to compare rates, be sure to check out: