Best 12 Month CD Rates Today: Top High-Yield Savings Accounts Compared
In today's financial landscape, finding the best 12-month CD rates can be a game-changer for savers looking to maximize their returns while maintaining security. Certificates of Deposit (CDs) and high-yield savings accounts offer a safe and predictable way to grow your money, especially when traditional savings accounts provide minimal interest. This article explores the top high-yield savings accounts and CDs available in the US as of March 2025, helping you make an informed decision based on current rates, terms, and features.
High-yield savings accounts and CDs are ideal for individuals who want to earn more on their deposits without exposing their funds to market volatility.
This guide provides a detailed comparison of the best options available, including online banks, credit unions, and traditional financial institutions. By the end, you'll have a clear understanding of where to park your money for optimal growth over the next 12 months.
When searching for the best 12-month CD rates or high-yield savings accounts, it's essential to consider factors such as annual percentage yield (APY), minimum deposit requirements, early withdrawal penalties, and accessibility. Online banks often offer higher yields compared to brick-and-mortar institutions due to lower overhead costs. Additionally, credit unions may provide competitive rates for members. Below, we break down the top choices available in March 2025, ensuring you have the latest and most accurate information to make an informed decision.
Top High-Yield Savings Accounts and CDs
Several financial institutions stand out for their competitive rates and customer-friendly terms. Here are some of the best options currently available:
- Ally Bank : Known for its user-friendly online platform, Ally Bank offers a high-yield savings account with a competitive APY and no monthly maintenance fees.
- Marcus by Goldman Sachs : This online bank provides a high-yield savings account with a strong APY and no minimum deposit requirement.
- Synchrony Bank : A popular choice for high-yield savings, Synchrony offers a robust APY and 24/7 customer service.
- Capital One 360 : With a blend of online and physical branches, Capital One 360 offers a high-yield savings account with no fees and a solid APY.
- Discover Bank : Discover's high-yield savings account comes with a competitive APY and no monthly fees, making it a reliable option.
Comparison of Best 12-Month CD Rates
For those interested in locking in their funds for a year, 12-month CDs can provide higher returns than traditional savings accounts. Below is a comparison table of the top 12-month CD rates as of March 2025:
| Bank | APY | Minimum Deposit | Early Withdrawal Penalty |
|---|---|---|---|
| Ally Bank | 4.50% | $0 | 60 days of interest |
| Marcus by Goldman Sachs | 4.45% | $500 | 90 days of interest |
| Synchrony Bank | 4.60% | $2,000 | 90 days of interest |
| Capital One 360 | 4.40% | $0 | 3 months of interest |
| Discover Bank | 4.55% | $2,500 | 6 months of interest |
Factors to Consider When Choosing a High-Yield Account
While APY is a critical factor, other considerations can influence your decision:
- Liquidity Needs : High-yield savings accounts offer more flexibility, while CDs require locking in funds for a set term.
- Fees : Look for accounts with no monthly maintenance fees or minimum balance requirements.
- Customer Service : Access to reliable customer support can be crucial, especially for online-only banks.
- FDIC Insurance : Ensure the institution is FDIC-insured to protect your deposits.
Final Thoughts
Choosing the best 12-month CD or high-yield savings account depends on your financial goals and preferences. Online banks often provide the highest yields, but traditional banks and credit unions may offer additional services. By comparing the options listed above, you can find the best fit for your savings strategy. For more information, visit the official websites of these institutions or consult a financial advisor.
References:
Ally Bank
Marcus by Goldman Sachs
Synchrony Bank
Capital One 360
Discover Bank
The information available on this website is a compilation of research, available data, expert advice, and statistics. However, the information in the articles may vary depending on what specific individuals or financial institutions will have to offer. The information on the website may not remain relevant due to changing financial scenarios; and so, we would like to inform readers that we are not accountable for varying opinions or inaccuracies. The ideas and suggestions covered on the website are solely those of the website teams, and it is recommended that advice from a financial professional be considered before making any decisions.