Highest CD rate offered at 4.10% APY on 14-month term
A certificate of deposit (CD) allows savers to lock in a competitive rate on their savings. The highest CD rate is currently 4.10% APY, offered by Marcus on its 14-month CD.
Historically, longer-term CDs offered higher interest rates, but the current economic climate has reversed this trend.
Investing $1,000 in a one-year CD with 4% APY can yield $1,040.74, including $40.74 in interest, after one year.