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Best 12 Month CD Rates Today: Top High-Yield Savings Accounts Compared

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

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