Marcus by Goldman Sachs offers the highest 9-month CD rate at 4% APY amid broader deposit account rate cuts.
The best certificate of deposit rates remain above 4% APY despite a broader decline in deposit account yields. Marcus by Goldman Sachs currently leads with a 4% APY on its 9-month CD, while short-term CDs generally range between 4% and 4.5% APY.
Historically, CD rates have fluctuated with economic conditions. After peaking in the early 2000s, rates fell sharply during the 2008 financial crisis, dropping to around 1% APY for one-year CDs by 2009. The Fed’s near-zero benchmark rate policies in the 2010s pushed average 6-month CD rates to as low as 0.1% APY by 2013.
The current rate environment reflects a shift as banks adjust yields in response to broader monetary policy trends. Traditional savings accounts continue to offer significantly lower returns compared to CDs.