Marcus by Goldman Sachs offers the highest 14-month CD rate at 4.10% APY amid broader deposit account rate declines.
The highest-yielding certificates of deposit remain above 4% APY even as broader deposit account rates fall. Marcus by Goldman Sachs currently leads with a 4.10% APY on its 14-month CD, outpacing traditional savings accounts.
Short-term CDs, particularly those with six- to 12-month terms, typically offer rates around 4% APY. This follows a decade-long trend of declining yields, with average CD rates dropping below 1% APY after the 2008 financial crisis and remaining near historic lows through the 2010s.
The Federal Reserve’s near-zero benchmark interest rate policies during the 2010s contributed to suppressed CD yields, with six-month CDs averaging just 0.1% APY by 2013.