Are you looking for a smart way to grow your money this weekend? Certificates of deposit are currently offering attractive yields of up to 4.75% APY that you can secure today for the term of your choice, whether it’s a few months or several years. This stability ensures that you are shielded from economic fluctuations and stock market volatility, with the added bonus of FDIC protection up to $250,000. The highest rates are currently being offered by online banks and credit unions that offer a quick and easy signup process — simply provide basic identification details, select your CD term, and choose your funding method.
Unsure about how much to invest? Most top-rated CDs have minimal to no minimum deposit requirements, making them accessible to all savers. Your funds are kept safe until your CD matures, helping you resist the urge to spend impulsively while earning more than a regular savings account.
For added flexibility, consider building a CD ladder by diversifying your investments across multiple CDs with varying maturity dates. This strategy allows you to access parts of your funds regularly while taking advantage of current higher rates before they decrease.
Discover the best rates this weekend on FDIC-insured CDs with swift signup processes and competitive terms, ideal for maximizing your savings while enjoying your weekend. 🌟 Today’s top savings rates: Stay ahead of inflation with leading yields of up to 4.50% this weekend.
Best CD rates for March 14, 2025:
Today’s highest returns can be found at FDIC-insured online banks and digital accounts offering up to 4.75% APY with low or no minimum requirements. Trusted providers such as United Bank, Bread Financial, Alliant Bank, and others are currently offering competitive rates as of Friday, March 14, 2025.
Here are the top CD yields from our partners:
– Bread Financial Savings CDs: 4.50% APY on a 6-month term with a $1,500 minimum deposit
– Valley Bank Online CD: Up to 4.30% APY with a $25,000 minimum deposit
– Alliant Credit Union: 4.25% APY on a 12-month term with a $1,000 minimum deposit
– Discover Bank CDs: 4.10% APY on 24-month terms and 4.00% APY on 12-month terms
– American First Credit Union: 4.10% APY on a 12-month term with a $1 minimum deposit
– Barclays Bank Online CDs: 4.00% APY on 12-month terms with no minimum requirements
– CIT Bank CDs: 3.50% APY on an 11-month no-penalty CD
Explore more top CD rates by sorting results by APY to find the highest yields or by term to align with your financial objectives.
While online-only banks and digital accounts may not be as
De-off offers a secure and reliable method to achieve a much higher yield compared to traditional savings accounts. Gain a deeper understanding of how Certificates of Deposit (CDs) function, with 7 types to enhance your savings potential. The Federal Deposit Insurance Corporation (FDIC) monitors the monthly average interest rates for CDs and savings accounts. Established by Congress, the FDIC is an independent government agency entrusted with upholding stability and public trust in the U.S. financial system while providing insurance for consumer deposit accounts.
Here’s a comparison of FDIC national deposit rates for a $10,000 minimum deposit between January and February 2025 across various traditional low-interest deposit accounts:
– Savings: 0.41% (Feb) vs. 0.41% (Jan) – no change
– Interest Checking: 0.07% (Feb) vs. 0.07% (Jan) – no change
– Money Market: 0.64% (Feb) vs. 0.64% (Jan) – no change
– 1-Month CD: 0.22% (Feb) vs. 0.23% (Jan) – down 1 basis point
– 3-Month CD: 1.45% (Feb) vs. 1.47% (Jan) – down 2 basis points
– 6-Month CD: 1.63% (Feb) vs. 1.64% (Jan) – down 1 basis point
– 12-Month (1 year) CD: 1.80% (Feb) vs. 1.82% (Jan) – down 2 basis points
– 24-Month (2 year) CD: 1.45% (Feb) vs. 1.45% (Jan) – no change
– 36-Month (3 year) CD: 1.31% (Feb) vs. 1.32% (Jan) – down 1 basis point
– 48-Month (4 year) CD: 1.23% (Feb) vs. 1.24% (Jan) – down 1 basis point
– 60-Month (5 year) CD: 1.31% (Feb) vs. 1.32% (Jan) – down 1 basis point
The FDIC, an independent government agency, works towards ensuring the stability and confidence in the U.S. financial system, providing insurance for consumer deposit accounts. Delve into the best low-risk investments for retirees seeking steady returns on their nest egg.
CD rates are closely tied to the Federal Reserve’s key interest rate, impacting rates on various financial products like deposit accounts, loans, and credit cards. As the Fed rate increases, so do the Annual Percentage Yields (APYs) on savings instruments such as CDs and high-yield accounts. Following multiple rate hikes to combat
Economists are forecasting that the Federal Reserve will refrain from making any further adjustments until May. The upcoming Fed policy meeting on March 18–19, 2025 is anticipated to maintain the Fed rate at 4.25% to 4.50%. Market expectations are high, with the CME FedWatch Tool indicating a 97% probability of the Fed keeping rates unchanged.
Analysts are closely monitoring inflation and labor data to gauge the possibility of future Fed rate cuts. Inflation rates have moderated from a peak of 9.1% in June 2022 to a range of 2.5% to 4% since May 2023. Recent job figures from the Bureau of Labor Services indicated a rise in unemployment to 4.1% in February, with 151,000 jobs added to payrolls, slightly below expectations but surpassing the revised figures for January.
Although concerns linger regarding economic uncertainties stemming from factors like the trade war, immigration policies, and federal layoffs, recent consumer price and producer price index data suggest a stabilizing economy. Federal Reserve Chair Jerome Powell expressed confidence in the economy’s current position, emphasizing the need for patience and clarity amidst evolving policy changes.
The rate-setting panel led by Powell will announce its decision on the Fed rate on Wednesday, March 19, 2025, at 2 p.m. ET. For more detailed information on the upcoming Federal Reserve meeting and its potential impact on personal finances, consider exploring CDs and factors such as term length, rate of return, minimum deposit requirements, and the type of financial institution offering the CD.
Digital banks generally offer a wide range of benefits not commonly found in traditional brick-and-mortar banks or credit unions. If you prefer not to use an online-only bank, consider exploring high-yield savings accounts or money market accounts that offer competitive rates without imposing withdrawal penalties.
It’s important to be aware of penalties and fees associated with early withdrawal from a certificate of deposit (CD). These penalties are usually calculated based on the amount of interest you would forfeit, such as 90 days of interest for CDs with terms up to 24 months. The longer the CD term, the higher the penalty typically is.
When considering breaking a CD early, it’s crucial to weigh the expert opinions on early withdrawals and determine if it’s financially beneficial for you. CDs provide guaranteed returns and often offer higher interest rates compared to traditional accounts. They also come with a variety of terms ranging from three months to five years or more to suit your financial objectives.
However, CDs also have drawbacks, such as penalties for early withdrawals and limitations on adding more money once the CD is locked. While CDs are a safe way to earn interest, other investment options like stocks, bonds, and mutual funds may offer higher returns over the long term.
If you’re looking for alternatives to CDs, consider high-yield savings accounts or money market accounts, which provide steady returns with more flexibility for adding or withdrawing funds without penalties. Additionally, exploring higher-risk investments like stocks and mutual funds could potentially yield greater returns, albeit with increased risk.
To learn more about managing your finances effectively, including understanding CD maturity dates and exploring various investment options, consider consulting our comprehensive library of personal finance guides. Your bank will typically notify you through mail, email, or online alerts when your CD is nearing maturity.
Make sure your contact information is updated to avoid missing important notifications. Additionally, set a reminder for yourself a few weeks before your CD’s maturity date. For more information on what to do after your CD matures, consult our guide.
How do banks profit from CDs? Banks earn money by charging higher interest rates on loans than they pay on customer deposits. This profit margin, known as the spread, is essential for banks to make a profit. Unlike a regular savings account that allows for easy access to your funds, a CD requires you to keep your deposit locked in for a specific period, with the principal and interest returned to you after maturity. This lock-in period allows banks to plan their earnings and they are willing to offer slightly higher rates for this reliability.
Are online-only banks like Lending Club or SoFi safe? Yes, online-only banks are just as secure as traditional banks. They are either FDIC-insured chartered banks or partner with established banks to offer deposit accounts protected by the government up to $250,000. Look for terms like “member FDIC” or “FDIC insured” when comparing banks. Learn more about the differences between online and traditional banks in terms of rates, fees, and money management.
What is compound interest? Compound interest means earning interest not only on your initial deposit but also on the interest you accumulate over time. This powerful concept helps your savings grow faster towards your financial goals. The Annual Percentage Yield (APY) is the total interest earned on your deposit over a year, including compound interest, expressed as a percentage. Explore how compound interest can work for you in our guide.
What is a jumbo CD? A jumbo CD is a certificate of deposit that requires a minimum deposit of $100,000. Similar to regular CDs, jumbo CDs offer a fixed interest rate and term. While jumbo CDs historically provided higher rates than traditional CDs, this is not always the case due to current interest rate conditions. Discover more about jumbo CDs and why it’s beneficial to compare options before committing to one.
What is a no-penalty CD? Also known as a liquid CD, a no-penalty CD allows you to withdraw your money before maturity without facing penalties, unlike traditional CDs. However, this flexibility often comes with lower returns compared to traditional CDs. With interest rates at historic highs, consider whether a high-yield savings account may offer better rates and flexibility. Learn more about what to consider when choosing a no-penalty CD.
What is a CD ladder? A CD ladder is a savings strategy that involves spreading your funds across multiple CDs to take advantage of higher rates without locking all your money into one long-term CD. This approach helps balance accessibility and earning potential.
One strategy to consider is CD laddering, which allows you to access a portion of your investment at regular intervals. By building a CD ladder, you can secure today’s highest rates and benefit from rolling returns before those rates disappear.
When it comes to brokered CDs, these are certificates of deposit that you purchase through a brokerage firm rather than directly from a bank or credit union. Similar to traditional CDs, you select a term length with a fixed interest rate. However, brokered CDs offer the flexibility of being able to purchase them through your investment account, either new or from other investors. It’s important to learn more about brokered CDs and carefully consider before investing in one.
Understanding the distinction between saving and investing is crucial. Saving involves keeping your money in secure accounts with minimal risk of losing your principal, while investing entails purchasing assets like stocks, bonds, or mutual funds that have the potential for higher returns. Explore our guide on saving and investing to determine the most suitable approach for building your nest egg.
Please note that the annual percentage yields mentioned were accurate as of Friday, March 14, 2025, at 8:10 a.m. ET. Keep in mind that APYs and promotional rates for certain products may vary by region and are subject to change.
Sources:
– National Rates and Rate Caps, FDIC. Accessed on February 19, 2025.
– Consumer Price Index Summary, U.S. Bureau of Labor and Statistics. Accessed on March 13, 2025.
– Producer Price Index News Release summary, U.S. Bureau of Labor and Statistics. Accessed on March 14, 2025.
– Employment Situation Summary, U.S. Bureau of Labor and Statistics. Accessed on March 10, 2025.
– CME FedWatch Tool, CME Group. Accessed on March 14, 2025.
