📋 Table of Contents
Highest CD Rates Available
The highest CD rates typically come from online banks and credit unions rather than large traditional banks, thanks to lower overhead costs being passed on to depositors.
Highest Rates by Provider
| Bank | Highest APY | Term |
|---|---|---|
| Marcus by Goldman Sachs | ~5.25% | 1-year |
| Bread Savings | ~5.20% | 1-year |
| Synchrony Bank | ~5.15% | 6-month |
Chasing the Highest Rate — Is It Worth It?
The gap between top competing online banks is often a small fraction of a percentage point, while the gap between any of them and a traditional bank's near-zero rate is enormous. Comparing the top 4-5 online banks captures nearly all the available benefit.
Where the Highest Rates Typically Show Up
Shorter-to-medium terms (6-month to 1-year) frequently see the most competitive promotional rates, as banks compete aggressively for short-term deposits.
How to Actually Capture the Highest Rate
Check current rates directly rather than relying on an older comparison, and confirm any minimum deposit requirement tied to the highest advertised rate.
Frequently Asked Questions
Top rates from online banks like Marcus and Bread Savings are typically in the 5.00-5.25% APY range for 1-year terms, though exact rates change — always verify current numbers directly.
For a small difference, only if your deposit is large enough to make the gap meaningful in dollar terms. For a significant gap (like moving away from a traditional bank's low rate), it's almost always worthwhile.