Marcus by Goldman Sachs offers a 14-month CD at 4% APY amid broader declines in deposit account returns.
Certificate of deposit rates remain elevated despite a broader decline in deposit account yields, with the highest available rate currently at 4% APY. Marcus by Goldman Sachs leads the market with a 14-month CD at this rate, outpacing traditional savings accounts.
Historically, CD rates have fluctuated with economic conditions. Following the 2008 financial crisis, average one-year CD rates fell to around 1% APY, while five-year CDs dropped below 2%. By 2013, rates on six-month CDs averaged just 0.1% APY due to the Federal Reserve’s near-zero benchmark interest rate.
Short-term CDs, particularly those with six- to 12-month terms, currently offer yields between 4% and 4.5% APY, reflecting a temporary high before potential further declines.