Marcus by Goldman Sachs offers the highest 14-month CD rate at 4% APY amid broader declines in deposit account yields.
Certificate of deposit rates remain elevated despite a broader decline in deposit account yields, with the top 14-month CD offering 4% APY. Marcus by Goldman Sachs leads the market with this rate, outpacing traditional savings accounts and shorter-term CDs, which typically range from 4% to 4.5% APY for six- to 12-month terms.
Historically, CD rates have fluctuated with economic conditions and Federal Reserve policy. Following the 2008 financial crisis, rates plummeted to near-zero levels, with one-year CDs averaging around 1% APY by 2009. The Fed’s prolonged low-rate policy in the 2010s further suppressed yields, pushing six-month CD rates to as low as 0.1% APY by 2013.
The current 4% APY rate reflects a temporary high amid shifting monetary conditions, though broader trends suggest continued downward pressure on deposit yields.