‘Big promises’
Last summer,
economists were predicting a “soft landing,” as opposed to a previously anticipated economic recession: labor markets recovered and consumer spending rebounded after years of economic turmoil spurred by the COVID-19 pandemic. In response to improving consumer prices, the Fed cut rates three consecutive times at the end of last year and financial institutions started slashing promised savings yields. Now with the inflation edging higher once again, and remaining stubbornly above the central bank’s 2% target, the future for CD rates may not be as grim as once anticipated. As consumer prices tick up to 2.8%, all of the very best available CD rates this month continue to exceed 4.7% APY — most of which are from online-only institutions or credit unions with asset restrictions for their highest promised yields. For those looking to lock in, McBride says it’s critical to first evaluate your own financial standing and determining what a costlier consumer market might mean for your savings. “Do not compromise your need for liquid savings in the pursuit of yield on CDs,” he says, adding that consumers should ensure they “can live without the money for the term. Oftentimes even liquid CDs offer a lower return than you could get by splitting your money between a CD and a high-yield savings account.” Just as with about all CDs, those with the very highest promoted rates often come with some restricting terms: early withdrawal penalties, opening deposit restrictions, and in the case of credit unions, membership requirements. The duration of your term can also have a big impact on potential savings, explains NerdWallet lead investing writer Sam Taube. “A 1-year CD at 4% would earn double what a 6-month CD earns at the same 4% rate, and renewing the CD later carries the risk of a lower rate,” Taube says, adding that consumers should be wary of other big promises, “such as at banks that require having a certain checking account to earn a higher relationship rate on a CD.” (
See some of the highest CD rates from our partner Bankrate here .)
10 highest-paying CDs of April 2025
Here are the 10 best rates for CDs in April 2025. All of these accounts are protected by either the Federal Deposit Insurance Corp. or National Credit Union Administration, unless otherwise noted. It’s critical to read all the fine print relating to an account before opening it to ensure you’re aware of potential restrictions or hurdles.
As part of its ongoing 95th anniversary celebration, California Coast Credit Union is continuing to offer 9.50% APY on a 5-month term. It’s nearly double what many other top-earning accounts promise right now, but taking advantage of this offer involves a few critical hoops: a minimum $500 deposit of new money is required, and a maximum opening deposit of $3,000. Since this is a credit union, you’ll also have to become a member to open the account, which means you’ll need to live or work in San Diego, Riverside, Orange, Los Angeles, Ventura, Imperial or San Bernardino counties and pay a one-time $5 membership fee when you open a savings account.
New members here can earn one of the highest available rates at 6.00% APY with an 8-month promotional certificate. That said, that rate is only for balances from $1,000 to $5,000. To join the credit union, you’ll need to live in Los Angeles, Orange, Riverside, San Diego, the city of South San Francisco or the city of Alameda, Calif.
There is a low $250 minimum deposit required to open a share term certificate at Local Government FCU. For accounts with 18-month maturity dates, one-time balances beyond that amount promise a high 5.05% APY. Like most credit unions, though, this rate is only available to members of this Raleigh-North Carolina-based institution. Depositors or their family members here must be an employee or volunteer of North Carolina’s local government, including both elected and appointed officials.
You’ll want to read the fine print before choosing from a 12-, 24- or 36-month flex index CD — which as the name indicates, is flexible depending on what happens to rates down the road. The APY you’ll earn isn’t set in stone, but you only need $1,000 to open an account, so it might be worth taking the risk to see if you can redeem the impressive reward. Accounts are based on the prime rate index and can increase if the Fed raises rates, but like traditional CDs, these accounts charge a penalty for early withdrawals.
Accessing the 4.80% APY with this 6-month CD requires a relatively low $2,500. That said, there are no monthly fees and everything can be managed online. Terms here automatically renew so you’ll want to keep a close eye on these accounts. This deal, however, is only available to customers in Boca Raton, Fla.
Those eligible for a membership at 5Point Credit Union can indeed earn up to 4.76% APY. That said, the minimum opening balance requirement for this high rate is $99,000. Membership requirements here include living, working or attending school in one of a number of eligible locations in Texas or through a family or household member who is already a member.
If you have at least $100,000, this option from North Carolina-based Coastal Credit Union promises 4.75% APY for a 15-month jumbo certificate. Accounts here will automatically renew to another 15-month term, so it’s critical to keep a close watch. There are four ways to become a member and access this account: by either working for one of hundreds of eligible partnering companies, by having a family member who is already a member, by living or working in a select number of cities throughout North Carolina, or by joining the Sustainable Energy Association, a non-profit membership organization in the state.
Come with as little as $200 at this Indiana-based credit union and the 5-month special CD can deliver up to 4.65% APY for the term. Because this is a credit union, you will have to join to qualify. That means either working for a number of select employer groups, having a family member who is already a member or by living, working worshiping or attending school in a validated address, which can be verified
here .
It takes at least $1,000 to open an account and earn the 4.60% APY rate with a 12-month certificate at Together Credit Union. That said, only those who live or work in a select Missouri counties, or employees and retirees of select companies, can join. Those with family members or household members who are already members may also access this account.
Earning 4.60% APY with this certificate special only requires a $500 opening deposit and a membership at the Kentucky-based Abound Credit Union to access. Membership, however, means either living, working, worshiping, attending school or doing business in select Kentucky counties, or working for one of the credit union’s designated employer groups. Access here is also open to active duty or retired members of the military, reserves, National Guard or civil service employees, as well as contractors at Fort Knox.
5 most accessible CD rates of April 2025
Most of the deals we’ve mentioned above come with stringent requirements, so we’ve put together some of the highest-earning CDs that are accessible to most people — not just those in rural counties or with niche employment opportunities. Minimum deposit requirements here are all $1,000 or less and with caps set no lower than $250,000.
OMB Bank : Up to 4.65% APY
Make the minimum required $1,000 opening deposit and you can earn 4.65% APY with this 7-month CD at OMB Bank. There are no start-up fees or maintenance fees associated with this account. Online access is accessible to all, however those looking for in person banking will need to live close to one of its several ranch locations in Missouri or Kansas.
For an even shorter-term option, this 4-month CD also earns a highly competitive 4.60% APY. Here you’ll also need to make the minimum $1,000 deposit to open. Although branches are only in North Carolina, online access is available to anyone in the U.S.
While most CD rates at ODNB are well above the industry average, its 9-month accounts offer one of the best. At 4.60% APY, this CD has no requirements to obtain the marketed rate and only calls for a $500 opening balance deposit to get started. Branch locations here are only available in Florida, Pennsylvania, Virginia and Washington D.C., however online access is available to all.
This 9-month term comes with a relatively high 4.55% APY rate and a low $1,000 opening balance minimum. It’s limited to deposits of $500,000 or less, so this might not work for everyone.
There are no membership restrictions to access the high 4.52% APY available with an 18-month variable-rate CD at Newburg Bank. The bar for entry is also a low $500. That said, the variable-rate nature of this CD means the potential yields here may change depending on the state of the economy after the account is opened. While there are only two physical branch locations, both of which are in Wisconsin, this offer is also available online to all.
