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Best 12 Month CD Rates Today: Top Annual CD Interest Rates for 2025

When searching for the best 12-month CD rates today, it’s essential to consider both the interest rate and the financial institution offering it. CDs are time-bound deposits, meaning you agree to leave your money with the bank for a fixed period in exchange for a predetermined interest rate. The 12-month term is particularly appealing because it offers higher yields than regular savings accounts while still allowing relatively quick access to your funds. This section delves into the top CD rates available in March 2025, along with key considerations for choosing the right CD for your financial goals.

Top Financial Institutions Offering the Best 12-Month CD Rates

Several banks and credit unions currently offer competitive 12-month CD rates. Below is a comparison of the top options, including their annual percentage yields (APYs) and minimum deposit requirements. These institutions are FDIC-insured or NCUA-insured, ensuring your funds are protected up to the legal limits.

Financial Institution	APY	Minimum Deposit
Ally Bank	5.25%	$0
Marcus by Goldman Sachs	5.20%	$500
Synchrony Bank	5.15%	$2,000
Discover Bank	5.10%	$2,500
Capital One	5.05%	$0

Factors to Consider When Choosing a 12-Month CD

While the interest rate is a critical factor, other elements should influence your decision. Here are some key considerations:

Early Withdrawal Penalties: Most CDs charge a fee if you withdraw funds before the maturity date. These penalties can eat into your earnings, so it’s important to understand the terms.
Minimum Deposit Requirements: Some banks require a minimum deposit to open a CD, which can range from $0 to several thousand dollars.
Renewal Policies: Many CDs automatically renew at the end of the term, often at a lower rate. Be sure to review the renewal terms to avoid unexpected changes.
Laddering Strategy: A CD ladder involves opening multiple CDs with staggered maturity dates, providing both liquidity and higher yields over time.

How to Open a 12-Month CD

Opening a CD is a straightforward process. Most banks and credit unions allow you to apply online, by phone, or in person. Here’s a step-by-step guide:

Compare Rates: Use the table above or check other reputable sources to find the best rates.
Gather Required Information: You’ll typically need your Social Security number, a valid ID, and funding details (e.g., a linked bank account).
Submit an Application: Complete the online or paper application, specifying the CD term and deposit amount.
Fund the CD: Transfer the required minimum deposit from your checking or savings account.
Monitor Your Investment: Keep track of the maturity date to decide whether to renew, withdraw, or reinvest the funds.

For more information on CDs and other savings options, visit the official websites of the FDIC and NCUA .

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