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16 short-term CDs worth investing in before 2025
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For the past several years, savers who have wanted to maximize the returns on their money have had lots of great options to choose from. After all, the high-rate environment that made it tough to borrow money at an affordable rate also had an upside: high rates on interest-bearing accounts. As a result, savers who were looking for hefty returns on their money had plenty of high-yield savings accounts and certificates of deposit accounts to choose from.
The rate environment has been shifting over the last few months, though. Inflation has cooled dramatically compared to years prior, and, in turn, the Federal Reserve has cut its benchmark rate three times, with the latest rate cut occurring this week. That has resulted in the Fed rate falling by a full percentage point in total during 2024. While this has helped to ease some of the financial pressure on borrowers who need to take out mortgage loans, personal loans or home equity loans, it has also negatively impacted the rates on CDs and high-yield savings, too.
That doesn’t mean savers are completely out of luck, though. While CD rates may be dropping, they’re still quite high overall, especially compared to historical rates. And, right now, short-term CDs, in particular, can be a lucrative option to consider right now. But if you’re going to open one of these accounts before the new year rolls around, it’s important to try and find the CD accounts offering the best returns in today’s rate environment — which includes the ones listed below.
Start comparing the best CD account options online now.
16 short-term CDs worth investing in before 2025
If you’re planning to put some of your savings into a short-term CD account before the new year, these options may be worth a look.
3-month CDs
- TotalBank — 4.71% APY: This CD comes with a $25,000 minimum deposit requirement and a $25,000 minimum balance requirement to earn the advertised APY. If you need to withdraw your funds before the CD account has matured, the early withdrawal penalty is equal to 30 days of interest.
- Bask Bank — 4.65% APY: This CD comes with a $1,000 minimum deposit requirement and a $1,000 minimum balance requirement to earn the advertised APY. If you need to withdraw your funds before the CD account has matured, the early withdrawal penalty is equal to 90 days of interest.
- Brilliant Bank — 4.60% APY: This CD comes with a $1,000 minimum deposit requirement and a $1,000 minimum balance requirement to earn the advertised APY. If you need to withdraw your funds before the CD account has matured, the early withdrawal penalty is equal to half of the interest that would have been earned if held to maturity.
- American Bank — 4.50% APY: This CD comes with a $500 minimum deposit requirement and a $500 minimum balance requirement to earn the advertised APY. If you need to withdraw your funds before the CD account has matured, the early withdrawal penalty is equal to 90 days of interest.
Find out what CD rates you could be earning now.
6-month CDs
- Amerant — 4.75% APY: This CD comes with a $10,000 minimum deposit requirement to earn the advertised APY. If you need to withdraw your funds before the CD account has matured, the early withdrawal penalty is equal to 90 days of interest on the amount that’s withdrawn.
- Bellco Credit Union — 4.75% APY: This CD comes with a $500 minimum deposit requirement and a $500 minimum balance requirement to earn the advertised APY. If you need to withdraw your funds before the CD account has matured, the early withdrawal penalty is equal to 90 days of interest.
- Bread Savings — 4.75% APY: This CD comes with a $1,500 minimum deposit requirement and a $1,500 minimum balance requirement to earn the advertised APY. If you need to withdraw your funds before the CD account has matured, the early withdrawal penalty is equal to 90 days of interest.
- Chartway Federal Credit Union — 4.70% APY: This CD comes with a $500 minimum deposit requirement to earn the advertised APY. If you need to withdraw your funds before the CD account has matured, an early withdrawal penalty may apply.
9-month CDs
- Quorum Federal Credit Union — 4.75% APY: This CD comes with a $1,000 minimum deposit requirement to earn the advertised APY. If you need to withdraw your funds before the CD account has matured, the early withdrawal penalty is equal to 1% of the amount that’s withdrawn.
- Pacific National Bank — 4.65% APY: This CD comes with a $1,000 minimum deposit requirement and a $1,000 minimum balance requirement to earn the advertised APY. If you need to withdraw your funds before the CD account has matured, an early withdrawal penalty may apply.
- Brilliant Bank — 4.55% APY: This CD comes with a $1,000 minimum deposit requirement and a $1,000 minimum balance requirement to earn the advertised APY. If you need to withdraw your funds before the CD account has matured, the early withdrawal penalty is equal to half of the interest that would have been earned if held to maturity.
- NASA Federal Credit Union — 4.54% APY: This CD comes with a $10,000 minimum deposit requirement and a $10,000 minimum balance requirement to earn the advertised APY. If you need to withdraw your funds before the CD account has matured, the early withdrawal penalty is equal to 182 days of interest.
12-month CDs
- Fort Liberty Federal Credit Union — 4.60% APY: This CD comes with a $25,000 minimum deposit requirement and a $25,000 minimum balance requirement to earn the advertised APY. If you need to withdraw your funds before the CD account has matured, the early withdrawal penalty is equal to 90 days of interest.
- DuGood Credit Union — 4.59% APY: This CD comes with a $1,000 minimum deposit requirement and a $1,000 minimum balance requirement to earn the advertised APY. If you need to withdraw your funds before the CD account has matured, an early withdrawal penalty may apply.
- GTE Financial — 4.59% APY: This CD comes with a $500 minimum deposit requirement and a $500 minimum balance requirement to earn the advertised APY. If you need to withdraw your funds before the CD account has matured, the early withdrawal penalty is equal to 180 days of interest.
- FivePoint Credit Union — 4.54% APY: This CD comes with a $1,000 minimum deposit requirement and a $1,000 minimum balance requirement to earn the advertised APY. If you need to withdraw your funds before the CD account has matured, the early withdrawal penalty is equal to 30 days of interest.
The bottom line
The rate environment continues to evolve, but savers still have opportunities to maximize their returns by taking advantage of today’s competitive short-term CD rates. While these rates may not last indefinitely, locking in a top CD rate now could provide a solid and predictable return on your money, even as broader economic conditions shift. By carefully comparing the options available, such as those listed above, you can make an informed decision that aligns with your financial goals. Just don’t wait too long — these rates may not stick around, and if you don’t make your move now, you could miss out.
Three Major banks and Zelle rushed to bring a peer-to-peer payment network to market without first ensuring users would be protected against “widespread” fraud, alleges a lawsuit filed on Friday by the Consumer Financial Protection Bureau.
Bank of America, JPMorgan Chase and Wells Fargo ignored customer complaints related to Zelle, users losing hundreds of millions of dollars in scams, the regulatory agency alleges. Zelle is run by Early Warning Services, which is owned by the three banks named in the CFPB’s suit, along with four other financial institutions.
According to the CFPB, bank customers have lost more than $870 million over the seven years Zells has been in operation. Early Warning and the three banks named in the complaint hastily created the payments network to head off rival payment apps including Venmo and CashApp without adequately protecting end users, the suit alleges.
“The nation’s largest banks felt threatened by competing apps, so they rushed to put out Zelle,” Rohit Chopra, the CFPB’s director, said in a statement. “By their failing to put in place proper safeguards, Zelle became a gold mine for fraudsters, while often leaving victims to fends for themselves.”
Zelle blasted the CFPB’s accusations as “legally and factually flawed,” with a spokesperson also suggesting the timing of the suit as “driven by political factors unrelated” to the company.
JPMorgan also accused the agency of pursuing a “political agenda,” stating that the agency was “overreaching its authority by making banks accountable for criminals, even including romance scammers.”
JPMorgan Chase said it prevents nearly $20 billion in fraud attempts each year, and that 99.95% of its transactions are completed without dispute.
A spokesperson for Wells Fargo declined to comment. Bank of America did not immediately respond to a request for comment.
Offered by more than 2,200 banks and credit unions, Zelle has more than 143 million users in the U.S., according to the suit. Customers transferred a total of $481 billion in conducting 1.7 billion transactions during the first half of 2024, the CFPB noted.
Hundreds of thousands of customers filed fraud complaints and were denied assistance by Zelle and the three banks, according to the suit, which noted that some people were advised to contact those behind the fraud to get their money back.
Zelle “has been slow to implement anti-fraud measures, including closing accounts accused of fraud,” Jaret Seiberg, an analyst with TD Cowen Washington Research Group, said in a report, pointing to the CFPB’s allegations. “It also permitted the registration of emails that were impersonating legitimate entities, including Zelle itself.”
Since Zelle launched in 2017, according to the CFPB, JPMorgan Chase received 420,00 customer complaints involving more than $360 million; Bank of America heard from 210,000 customers with more than $290 million in fraud losses; and Wells Fargo tallied $220 million in fraud losses by 280,000 people.
In 2023 Early Warning began refunding money to an undisclosed number of fraud victims amid pressure from lawmakers. In late 2022, Sen. Elizabeth Warren issued a report that found increasing incidents of fraud and scams to be occurring on the popular payment app, with large banks typically reluctant to compensate victims, the Massachusetts Democrat said.
The Transportation Security Administration (TSA) has cautioned that a looming government shutdown could lead to longer wait times for travelers at airport security checkpoints. The warning comes as the TSA announced it is expecting a record 40 million airline passengers to take to the skies over a two-week period that began Thursday.
Most TSA workers, about 95%, are considered essential, and would therefore remain on the job in the event of a shutdown — but without pay — TSA administrator David Pekoske said in a post on X.
Air traffic controllers are also deemed essential employees and would be asked to work while foregoing a paycheck. Employees would be paid after a shutdown were to end.
Here is how a government shutdown will affect air travel for consumers.
Will the government shutdown affect flights?
Not for now. Passengers will still be able to travel on flights they have booked, with operations expected to continue as normal at least in the early days of a shutdown. That’s because TSA agents, air traffic controllers, and other essential airport staff will remain on the job.
Will TSA screening lines be longer?
While passengers are always advised to arrive at the airport earlier than usual during peak travel periods, that advice could be even more applicable in the event of a shutdown.
“While our personnel are prepared to handle high volumes of travelers and ensure safe travel, please be aware that an extended shutdown could mean longer wait times at airports,” the TSA’s Pekoske warned.
“My advice? Arrive at your airport early, with plenty of time to park your car, check your bags and make your way through security,” he added.
The last government shutdown in 2018-2019, lasted 35 days. While TSA officers were also deemed essential then, the number officers who called out sick rose as the shutdown dragged on and financial woes ensued.
“It was after TSA officers started missing paychecks that you saw the sick call numbers increase,” said senior CBS News senior transportation and national correspondent Kris Van Cleave. “There may not be an immediate impact at all airports, particularly if it is a short shutdown. If it drags on, then you have a workforce that is among the lowest-paid government employees,” he said.
If, in the event of a prolonged government shutdown, TSA employees stop showing up to work in significant numbers, wait times at security screening checkpoints would likely increase.
What about air traffic controllers?
The Federal Aviation Administration (FAA) is already grappling with a shortage of air traffic controllers, who are responsible for securing the national airspace by guiding takeoffs and landings and ensuring that aircraft don’t fly too close to one another. About a month into the last shutdown, LaGuardia Airport temporarily delayed flights because of staffing shortages, including among air traffic controllers.
In the event of a shutdown, the more than 14,000 air traffic controllers in the U.S. would be expected to show up to work without pay.
What would a government shutdown mean for passport processing?
According to the State Department’s contingency plan, consular operations will continue as normal “so long as there are sufficient fees to support operation,” given that they are integral to national security. That includes passport and visa services.
Still, some passport services could be limited, if they are located in buildings run by another agency that is inoperational.
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