Highest CD rate offered at 4% APY on 14-month term
A certificate of deposit (CD) allows savers to lock in a competitive rate on their savings. Historically, longer-term CDs offered higher interest rates than shorter-term CDs.
Today, the highest CD rate is 4% APY, offered by Marcus on its 14-month CD. This rate is higher than what is typically offered for shorter-term CDs.
For example, a $1,000 investment in a one-year CD with 1.52% APY would yield $15.20 in interest, totaling $1,015.20. In contrast, a one-year CD with 4% APY would yield $40.74 in interest, totaling $1,040.74.