Savings and CD Rates Today, Wednesday, December 10: Mixed Moves

One-year CD rates inched up as savings account rates dipped slightly. Top accounts remain competitive.The average high-yield savings APY is 3.84% (-0.01 percentage point from yesterday).The average 1-year high-yield CD APY is 3.78% (+0.01 percentage point from yesterday).How high-yield averages are calculatedAverages are calculated using rates on NerdWallet’s lists for the best high-yield savings accounts and best CD rates.The national average rates are 0.40% for savings accounts and 1.64% for one-year CDs.Banks can adjust deposit rates on savings accounts and newly issued CDs at any time, but broader shifts to the entire savings landscape tend to be gradual. If you’re shopping for a better yield, compare savings accounts side-by-side and consider locking some funds in a CD if you want to preserve today’s rate for a fixed term.ADSavingsCash ManagementCDCheckingMoney MarketLearn MoreMember FDICForbright Bank Growth SavingsAPY4.00%Annual Percentage Yield (APY) is accurate as of 10/09/2025. APY may change at any time before or after the account is opened. Available only online.Min. balance for APY$0Learn MoreMember FDICAxos ONE® SavingsAPY4.31%The Axos ONE Savings account will earn a promotional rate of up to 4.31% APY for the statement cycle in which the requirements are met.Min. balance for APY$1,500Learn MoreMember FDICVaro Savings AccountAPY5.00%Annual Percentage Yield (APY) is accurate as of June 17th, 2025. Start earning 2.50% APY, then qualify to earn 5.00% APY on your balance up to $5,000.00 and 2.50% APY on balances over $5,000 next month by 1) Receiving direct deposit(s) totaling $1,000 or more; and 2) Ending the month with a positive balance in all your Varo Accounts. No fees, no minimums required. Rates subject to change at any time.Min. balance for APY$0Learn MoreMember FDICE*TRADE Premium SavingsAPY3.75%Annual Percentage Yield (APY) may change at any time and fees may reduce earnings. Please visit etrade.com/ratesheet for more information.Min. balance for APY$0These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.Learn Moreon Wealthfront's websiteWealthfront Cash Account - Paid non-client promotionAPYUp to 4.15%The Base Annual Percentage Yield (APY) is 3.50%, from program banks, is as of 11/07/25, is variable and is subject to change. If you are eligible for the overall boosted rate of 4.15% offered in connection with this promo, your boosted rate is also subject to change if the base rate decreases during the three-month promotional period. This limited-time promo offers eligible new Wealthfront clients a 0.65% APY increase over the standard base APY for 3 months on up to $150k in their Cash Accounts. Cash Account offered by Wealthfront Brokerage LLC, Member FINRA/SIPC, and is not a bank. Base APY (is representative, subject to change, requires no minimum) is paid from our Program Banks. Min. balance for APY$1Learn Moreon Betterment's websiteBetterment Cash Reserve – Paid non-client promotionAPY4.15%Cash Reserve offered by Betterment LLC and requires a Betterment Securities brokerage account. Betterment is not a bank. Learn More (https://www.betterment.com/cash-portfolio). Annual percentage yield (variable) is 3.50% as of 10/31/25, plus a 0.65% boost (“APY Boost”) for new clients with a qualifying deposit. $10 min deposit for base APY. Terms apply (betterment.com/boost); if the base APY changes, the Boosted APY will change. FDIC insurance provided by Program Banks (https://www.betterment.com/cash-portfolio), subject to certain conditions.Min. balance for APY$0CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.Read reviewMarcus by Goldman Sachs 7 Month No-Penalty CDAPY3.90%3.90% APY (annual percentage yield) as of 10/02/2025. Withdrawals permitted starting seven days after the funding date.Term7 monthsRead reviewDiscover® CDAPY3.50%Annual Percentage Yield (APY) is accurate as of 11/04/2025Term6 monthsRead reviewDiscover® CDAPY4.05%Annual Percentage Yield (APY) is accurate as of 11/04/2025Term1 yearChecking accounts are used for day-to-day cash deposits and withdrawals.Checking accounts are used for day-to-day cash deposits and withdrawals.Learn Moreon Chime®'s websiteChime® Checking AccountAPYN/AMonthly fee$0Learn MoreMember FDICVaro Bank AccountAPYN/AMonthly fee$0Read reviewE*TRADE Max-Rate CheckingAPY2.00%Annual Percentage Yield (APY). APY may change at any time and fees may reduce earnings. Please visit etrade.com/ratesheet for more information. The $15 monthly account fee can be waived when you maintain an average monthly balance of at least $5,000 in the account on or after the end of the second calendar month from opening the account.Monthly fee$15Money market accounts pay rates similar to savings accounts and have some checking features.Money market accounts pay rates similar to savings accounts and have some checking features.Read reviewZynlo Money Market AccountAPY4.10%Min. balance for APY$0.01EXPLORE MORE ACCOUNTSDecember rate news: Faster dips since Fed rate cuts beganThe Federal Reserve cut the federal funds rate in September, October and December 2025. Each cut kicked off new momentum for banks and credit unions to lower their rates on high-yield savings accounts and CDs. These drops will likely continue at a gradual pace as various institutions change yields at different times based on their need to attract deposits, among other factors.The next Fed rate announcement will be Jan. 28, 2026. Any rate cut will likely result in further rate drops for savers.High-yield savings rates todayThe average high-yield savings APY is 3.84% (-0.01 percentage point from yesterday).High-yield savings rates have dipped, but they remain relatively high (see chart above). The important thing for parking money you’ll need quickly, such as an emergency fund, is to put it in an account that gives you the best yields possible.Savings rate tips:Know that rates can change at any time. No one can predict what your rate will be this time next year. There are no guarantees that you’ll be earning today’s high rates.Aim for high-interest accounts today. Even though rates can change at any time, the best savings accounts consistently deliver stronger returns compared to those earning below the national average, no matter whether rates are rising or falling.When to consider a savings account:Generally, a savings account is your catch-all account for everyday savings. You can add or withdraw money at any time. These accounts are best for short-term needs, savings goals and unexpected expenses. Consider a savings account if:You want a higher rate on short-term savings. If you already have a savings account, but you’re earning less than, say, 3.00% APY, consider shopping around.Quick access to your cash. You can earn higher rates in other accounts, such as CDs, but if you want to access your money at any time, a savings account is generally the better option. Back to topCD rates todayThe average 6-month high-yield CD APY is 3.98% (unchanged from yesterday).The average 1-year high-yield CD APY is 3.78% (+0.01 percentage point from yesterday).The average 3-year high-yield CD APY is 3.68% (unchanged from yesterday).The average 5-year high-yield CD APY is 3.69% (unchanged from yesterday).The relative steadiness of CD rates defined the first eight months of 2025. Three Fed rate cuts in the span of four months brought about a new wave of rate drops. In November and December, banks and credit unions largely left mid-4% rates behind and top CD rates are closer to 4% for short terms and mid- to high-3% range for longer terms. There’s no better time to lock in a CD if you’ve been eyeing them.CD rate tips:Lock in near-4% rates while they last. We’re in a slow but steadily falling rate environment.Use a CD ladder to avoid hedging bets. Open several CDs of different term lengths to take advantage of a wider spectrum of today’s rates. Learn more about CD ladders.When to consider a CD:CDs are temporary accounts to boost savings for fixed periods, often ranging from three months to five years. You may decide to get multiple CDs over time or none, depending on your savings goals. Only use CDs for cash you won’t need to access, since CDs usually have early withdrawal penalties that can wipe out some or all the interest you earn. Consider a CD if you plan to:Lock up savings that’s earmarked for a big, near-term purchase, such as a car or down payment on a home that you’ll need within five years.Keep some savings out of reach for a while, especially a windfall such as an inheritance. A CD doesn’t let you dip into the money before you’re ready.Protect wealth from stock market risk. CDs aren’t for long-term growth. They tend to be a tool for those close to or in retirement, or who otherwise need to hold cash safely.🤓Nerdy TipIf you need a benchmark for the minimum CD rate to consider, aim for a rate that’s at least higher than the current inflation rate. Back to topWhat makes an account “high-yield"?A high-yield savings account or high-yield CD generally refers to an account with an annual percentage yield several times the national average. National average rates tend to be fairly low: 0.40% for savings accounts, 1.64% for one-year CDs and 1.34% for five-year CDs, according to the Federal Deposit Insurance Corp. Online banks and credit unions tend to have high-yield savings and CDs.