Best CD rates today, September 26, 2025 (up to 4.45% APY return)

Core Insights - Current CD rates are declining due to the Federal Reserve's decision to cut its benchmark rate three times in late 2024, yet some banks still offer competitive rates, with top rates reaching about 4% APY, particularly for terms of one year or less [2][3] - The highest CD rate as of September 26, 2025, is 4.45% APY, offered by LendingClub on its 8-month CD [2] - National averages for CD rates are significantly lower than the top rates available, emphasizing the need for consumers to shop around for the best options [3] Group 1: Online Banks and Credit Unions - Online banks and neobanks typically offer the best CD rates due to lower overhead costs, allowing them to provide higher interest rates and lower fees [4] - Credit unions, as not-for-profit financial cooperatives, also offer competitive CD rates, returning profits to their member-owners, although some have strict membership requirements [5] Group 2: Considerations for Opening a CD - CDs are considered a safe and stable savings vehicle, backed by federal insurance, allowing customers to lock in current rates [6] - There are drawbacks to consider, such as early withdrawal penalties if funds are accessed before the term ends, and the potential for lower returns compared to market investments for long-term savings goals [7][8]