Best CD rates today, November 6, 2025 (lock in up to 4.1% APY)

Core Insights - CD rates are currently higher than historical averages, with some institutions offering rates of 4% APY and above, particularly online banks [2][5] - The highest CD rate as of November 6, 2025, is 4.1% APY, available from Marcus by Goldman Sachs and Sallie Mae [2] - The Federal Reserve has been cutting its target rate, which has led to a decline in CD rates since last year [2][4] Group 1: Current CD Rates - CD rates are relatively high compared to historical averages, but they have been declining since the Federal Reserve began cutting rates [2] - Several financial institutions are offering competitive rates of 4% APY and up, with the highest being 4.1% APY [2] - The Federal Reserve cut its target rate three times in late 2024 by a total of one percentage point, impacting CD rates [3] Group 2: Federal Reserve Actions - The Federal Reserve announced its second rate cut of 2025 in October, with potential for additional cuts [4] - The federal funds rate does not directly impact deposit interest rates, but they are correlated, leading to a decline in CD rates following Fed rate cuts [5] Group 3: Opening a CD - The process for opening a CD account varies by institution, but generally includes researching rates, choosing an account, preparing documents, completing the application, and funding the account [6] - It is important to compare CD rates online and consider factors such as term length and minimum deposit requirements [6] - Many financial institutions allow online applications, streamlining the process for opening a CD [6]