5 Best CD Rates Available Nationwide in August 2025

Certificates of deposit (CDs) are one of the most popular options for growing your money with minimal risk. Because they often pay more interest than savings accounts, CDs are a good choice for short-term and mid-term savings, such as your emergency fund and larger upcoming purchases.

If you're looking to get the most from your certificate of deposit savings, below are some of the best CD rates as of August 2025 across the United States.

Editor's note: CD rates are accurate as of publishing but are subject to change.

How do certificates of deposit work?

A certificate of deposit (CD) is a type of savings account offered by banks and credit unions that promises a fixed return on your money.

To open a CD, you agree to deposit a certain amount of money (called the principal) for a certain length of time (called the term). The minimum deposit required is usually between a few hundred and a few thousand dollars, and the term typically ranges from a few months to a few years.

While your money is in the CD, you receive interest at a fixed rate for the length of the term. However, if you want to take money from the CD before the term is up, you'll have to pay an early withdrawal penalty, losing much of this interest.

At the end of the term, you get back your initial deposit, as well as any interest you've earned. You can also roll these funds into a new CD, starting the process all over again.

When evaluating the best CD offers, you'll see two percentages: the interest rate and the APY (annual percentage yield). These numbers should be close to each other, with APY always greater than or equal to the interest rate.

APY includes both the interest rate and the effects of your money compounding over time. As a result, the interest rate and APY should only be the same if the CD receives interest distributions annually. However, most CD accounts receive interest more frequently than once a year (e.g., monthly or daily).

Because CD terms can vary, looking at the APY is an easier way to compare offers from different institutions.

Although some banks and credit unions offer eye-popping APY figures to attract new customers, the highest CD rates are usually restricted in some way. For example, only residents of a specific area or employees of a certain company can open an account.

1. Vibrant Credit Union: 4.25% APY

Vibrant Credit Union is headquartered in Moline, Illinois, but it's open to new customers across the country if they're a member of a partner association or an employee of certain businesses and professions.

With a minimum deposit of just $5, Vibrant CDs make it easy to get started building your savings. Vibrant offers both a six-month and a 13-month CD with an APY of 4.25% (accurate as of August 7, 2025).

Be sure to pick the term that works best for you, as you could potentially lose all the interest you've earned if you withdraw funds before the end of the term.

2. Morgan Stanley Private Bank: 4.45% APY

Morgan Stanley Private Bank allows new customers to open an account online and start enjoying the benefits of CD savings in minutes.

The best CD rate is 4.45% APY for a six-month term (accurate as of August 12, 2025), with interest compounded daily. There are no monthly fees or minimum deposit required.

If you withdraw funds early, you'll pay a penalty equal to a certain number of days of simple interest. With the six-month CD, for example, the penalty is 45 days of interest.

3. Limelight Bank: 4.45% APY

Limelight Bank is a virtual bank based in Utah, but it's open to customers anywhere in the U.S. The bank specializes in CDs and high-yield savings accounts, making it a good choice if you want to stockpile your funds.

Limelight offers a 4.45% APY six-month CD and a 4.30% APY 12-month CD (accurate as of August 12, 2025). The minimum deposit required is $1,000.

Penalties may be assessed for early withdrawal. The bank's website also notes that fees may reduce the account's earnings.

4. Goldman Sachs Bank USA: 4.40% APY

Goldman Sachs Bank USA, which operates under the Marcus brand, offers high-yield CDs and savings accounts.

Right now, the best CD deal from Marcus has 4.40% APY with a six-month term (accurate as of August 12, 2025). Customers must deposit a minimum of $500.

An early withdrawal penalty applies: 90 days of interest on the original principal balance at the interest rate in effect for the CD.

5. Popular Direct: 4.30% APY

If you're looking for a place to park your money just for a few months, the online bank Popular Direct could fit the bill.

Popular Direct offers CDs with 4.30% APY and a term of just three months (accurate as of August 4, 2025). However, the deposit required is higher than the alternatives, a minimum of $10,000.

In addition, if you make an early withdrawal, you'll be assessed a fee depending on the length of your CD.

Bottom line

The highest CD rates nationwide can change rapidly, even day by day, to remain competitive. While these rates are accurate as of publication, make sure to double-check before you proceed.

Finding the best CD rates for August 2025, or whenever you open an account, will help you get the most return for your savings goals.