Best CD rates today, November 2, 2025 (lock in up to 4.1% APY)

Core Insights - The article discusses the current landscape of certificate of deposit (CD) rates, highlighting the importance of securing competitive rates for savings [1] Group 1: Overview of CD Rates - Historically, longer-term CDs offered higher interest rates than shorter-term CDs, but the current economic climate has reversed this trend [2] - As of November 2, 2025, the highest CD rate available is 4.1% APY, offered by Marcus by Goldman Sachs for a 14-month CD, Sallie Mae for a 15-month CD, and Barclays for a 6-month CD [2] Group 2: Interest Earnings from CDs - The interest earned from a CD is determined by the annual percentage rate (APY), which accounts for the base interest rate and the frequency of interest compounding [3] - For example, a $1,000 investment in a one-year CD with 1.7% APY would yield a total of $1,017.13 after one year, while a 4% APY would result in a balance of $1,040.74 [4] Group 3: Impact of Deposit Amounts - The amount deposited in a CD directly influences the total earnings; a $10,000 deposit in a one-year CD at 4% APY would grow to $10,407.42, earning $407.42 in interest [5] Group 4: Types of CDs - Various types of CDs offer different benefits, which may include: - Bump-up CD: Allows for a one-time request for a higher interest rate if bank rates increase during the term [5] - No-penalty CD: Enables early withdrawal without penalties [5] - Jumbo CD: Requires a higher minimum deposit (typically $100,000 or more) and may offer higher interest rates [5] - Brokered CD: Purchased through a brokerage, potentially offering higher rates but with increased risk and possible lack of FDIC insurance [5]