Marcus by Goldman Sachs offers the highest 14-month CD rate at 4% APY amid broader declines in deposit account yields.
The highest certificate of deposit rate available today stands at 4% APY, offered by Marcus by Goldman Sachs on a 14-month term. This comes as broader deposit account rates continue to decline, though CDs remain more competitive than traditional savings accounts.
Historically, CD rates have fluctuated with economic conditions. Following the 2008 financial crisis, rates fell sharply, with one-year CDs averaging around 1% APY by 2009. The Federal Reserve’s near-zero benchmark rate in the 2010s further suppressed yields, pushing six-month CD rates to as low as 0.1% APY by 2013.
Short-term CDs currently offer rates between 4% and 4.5% APY, outpacing most savings accounts. The trend reflects banks’ efforts to attract deposits amid shifting monetary policy expectations.