LendingClub

KEY POINTS The best CD rate available today: 4.55% APY for a 6-month term.When the Fed cuts the federal funds rate, CD rates will decrease.HYSAs provide an excellent opportunity to grow your savings while APYs remain competitive, but rates are variable. Thinking about locking in a steady return? Now's a great time to open a CD. Several banks are offering competitive rates, including a top APY of 4.55% on a 6-month term and other strong options around 4.50% for terms between six and 10 months.But these rates may not last -- many experts expect the Federal Reserve to cut interest rates later this year. Securing a CD now could help you lock in a high yield before those changes take effect.Below are some of the best CD deals available today. The best CD rates today, May 25, are 4.50% and above. Top offers include:United Fidelity Bank, 6 months: 4.55% APYUnited Fidelity Bank, 10 months: 4.50% APYOMB, 9 months: 4.50% APYPresidential Bank, 7 months: 4.50% APYableBanking, 6 months: 4.50% APYSpecial pick: Now could be one of the last chances to lock in a yield this high before rates start to fall. LendingClub's 14-month CD currently offers 4.10% APY with just a $500 minimum deposit. Check out LendingClub's 14-month CD here.Data source: Issuing banks. Rates are accurate as of May 23, 2025. Best CD Rates at Top Banks in May 2025 Rates as of April 22, 2025 LendingClub CD Member FDIC. APY: 4.10% Term: 14 Months Min. Deposit: $500 Open Account for On LendingClub's Secure Website. Discover® Bank CD Member FDIC. APY: 4.00% Term: 1 Year Min. Deposit: $0 Open Account for On Discover Bank's Secure Website. Western Alliance Bank CD APY: 4.00% Term: 6 Months Min. Deposit: $1 Open Account for On Raisin's Secure Website. Best CD Rates at Top Banks in May 2025 Should you open a CD?Now could be an excellent time to open a certificate of deposit. Since the Fed is largely expected to cut rates in the second half of the year, some banks have already started reducing top CD offerings. Locking in one of the best APYs today locks in steady returns for the length of the CD term.CDs are low-risk, come with FDIC insurance up to $250,000 per person, per bank, and offer predictable growth. They're a solid choice if you want safety and stability. But if you're investing for the long haul and can handle more ups and downs, the stock market might be a better bet for higher returns. How $10,000 in a CD could earn you $480Your potential return on a CD depends on three factors: the APY, your deposit amount, and the term length.For example, a $10,000 deposit into a 14-month CD with a 4.10% APY would earn roughly $480 in interest by the time it matures -- with virtually no risk of losing your principal.Compare that to a traditional savings account, where rates are often much lower and can fluctuate over time. Locking in a top CD rate today, like LendingClub's 14-month CD, can help you maximize your returns before rates drop. See LendingClub's 14-month CD details here. How to open a certificate of depositWhen you're ready, you can open a CD in just a few simple steps:Compare CD rates and terms. Look at different banks to find the best APY and term length that fits your goals. Online banks often offer higher rates than traditional banks.Decide how much to deposit. Choose an amount you won't need during the CD's term, since early withdrawals usually trigger penalties.Open the account. You can usually open a CD online or at a bank branch. You'll need to provide basic information like your ID and bank account details.Fund the CD. Transfer money from your checking or savings account into the CD. The term and interest rate are locked in once it's funded.Mark the maturity date. Keep track of when your CD matures so you can decide whether to withdraw your money or roll it into a new CD at that time.Remember, each CD allows only one deposit. Plan your amount wisely. When you're ready, click here to explore the best CD rates and open a high-yield CD today. CDs vs. HYSAs: Earn a top APY without locking up your fundsIf you're after strong returns but want easy access to your money, a high-yield savings account could be a better fit than a CD. Here's why:No long-term commitment: You can add or withdraw funds anytime without penalties.Easy access: Transfers to and from other accounts are quick and simple.Low maintenance: Just deposit your money and let it grow -- no decisions needed when the term ends like with a CD.Rate flexibility: HYSA rates can go up or down, but many currently offer APYs that compete with top CDs.In short, you don't have to lock up your cash to earn a great return.One standout right now is SoFi Checking and Savings (Member FDIC). This top-rated account offers up to 3.80% annual percentage yield (APY) on savings with qualifying direct deposits. Even better: New customers can earn up to a $300 bonus with qualifying direct deposits! It's an easy way to boost your savings without locking up your cash. Click here to learn more. Our Picks for the Best High-Yield Savings Accounts of 2025 Product APY Min. to Earn SoFi Checking and Savings Member FDIC. APY up to 3.80% Rate info Circle with letter I in it. SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% 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 stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period 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 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus. Min. to earn $0 Open Account for SoFi Checking and Savings On SoFi's Secure Website. Member FDIC. up to 3.80% Rate info Circle with letter I in it. SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% 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 stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period 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 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus. $0 Open Account for SoFi Checking and Savings On SoFi's Secure Website. American Express® High Yield Savings Account Member FDIC. APY 3.60% Rate info Circle with letter I in it. 3.60% annual percentage yield as of May 25, 2025. Terms apply. Min. to earn $0 Open Account for American Express® High Yield Savings Account On American Express's Secure Website. Member FDIC. 3.60% Rate info Circle with letter I in it. 3.60% annual percentage yield as of May 25, 2025. Terms apply. $0 Open Account for American Express® High Yield Savings Account On American Express's Secure Website. Western Alliance Bank High-Yield Savings Premier Member FDIC. APY 4.30% Rate info Circle with letter I in it. The annual percentage yield (APY) is accurate as of May 2, 2025 and subject to change at the Bank’s discretion. Refer to 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. Min. to earn $500 to open, $0.01 for max APY Open Account for Western Alliance Bank High-Yield Savings Premier On Western Alliance Bank's Secure Website. Member FDIC. 4.30% Rate info Circle with letter I in it. The annual percentage yield (APY) is accurate as of May 2, 2025 and subject to change at the Bank’s discretion. Refer to 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. $500 to open, $0.01 for max APY Open Account for Western Alliance Bank High-Yield Savings Premier On Western Alliance Bank's Secure Website. Sources https://www.unitedfidelity.com/high-yield-certificates-of-deposit/https://www.ombbank.com/personal-banking/personal-savings/certificates-of-deposit/9-month-cd-specialhttps://www.presidential.com/personal/banking/cdshttps://www.ablebanking.com/cds FAQs What's the biggest downside of a CD? The biggest downside of a certificate of deposit is the lack of liquidity. When you invest in a CD, your money is locked in for a fixed term, and withdrawing it early can result in loss of interest. This means you have less flexibility to access your funds if you need them before the CD matures. Can I withdraw money from a CD early? Yes, but it usually comes with a penalty. If you take money out before the CD matures, you'll likely lose some or all of the interest you've earned -- sometimes even a bit of your original deposit, depending on the bank's rules. How much money should I put in a CD? It depends on your financial goals and when you'll need the money. CDs are best for funds you won't need right away, so only deposit what you can leave untouched until the CD matures.» Mehr auf fool.com

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