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Best 12 Month CD Rates Today: Top Options for Secure Savings in 2025

When it comes to securing your savings with minimal risk, a 12-month Certificate of Deposit (CD) is an excellent option. CDs offer fixed interest rates, ensuring that your investment grows predictably over the term. Unlike savings accounts, which may have variable rates, CDs lock in your rate for the entire duration, protecting you from fluctuations in the financial market. This makes them particularly appealing for conservative investors or those looking to allocate a portion of their portfolio to low-risk assets.

Choosing the right CD involves evaluating several factors, including the interest rate, minimum deposit requirement, early withdrawal penalties, and the financial institution’s reputation. Some banks and credit unions offer promotional rates or special terms for new customers, so it’s worth shopping around to find the best deal. Additionally, online banks often provide higher rates compared to traditional brick-and-mortar institutions due to lower overhead costs. Below, we’ll delve deeper into the specifics of 12-month CDs and compare the top options available as of March 2025.

How 12-Month CDs Work

A 12-month CD is a time-bound deposit account where you agree to leave your funds untouched for one year in exchange for a fixed interest rate. At the end of the term, you receive your initial deposit plus the accrued interest. Withdrawing funds before the maturity date typically incurs a penalty, which can eat into your earnings. Therefore, it’s crucial to ensure you won’t need the money during the CD’s term.

Benefits of 12-Month CDs

Predictable Returns: The fixed interest rate guarantees your earnings, unlike variable-rate accounts.
Low Risk: CDs are insured by the FDIC (for banks) or NCUA (for credit unions) up to $250,000 per depositor.
Flexible Terms: Shorter terms like 12 months offer a balance between higher rates and liquidity compared to longer-term CDs.

Top 12-Month CD Rates in March 2025

Below is a comparison table of the best 12-month CD rates available today from reputable financial institutions. The table includes the annual percentage yield (APY), minimum deposit requirements, and other relevant details to help you make an informed choice.

Financial Institution	APY	Minimum Deposit	Early Withdrawal Penalty
Ally Bank	5.25%	$1,000	60 days of interest
Marcus by Goldman Sachs	5.20%	$500	90 days of interest
Discover Bank	5.15%	$2,500	90 days of interest
Synchrony Bank	5.10%	$1,000	90 days of interest
Capital One	5.00%	$0	3 months of interest

Factors to Consider When Choosing a CD

While the interest rate is a critical factor, it’s not the only one to consider. Here are some additional aspects to keep in mind:

Minimum Deposit: Some banks require a higher initial deposit to qualify for their best rates.
Penalties: Understand the early withdrawal penalties to avoid surprises.
Renewal Terms: Check whether the CD automatically renews and at what rate.
Customer Service: Opt for institutions with reliable customer support.

Final Thoughts

Investing in a 12-month CD can be a smart move for those looking to earn a competitive return without taking on significant risk. By comparing the top rates and terms available today, you can find an option that aligns with your financial goals. Always read the fine print and consider your liquidity needs before committing to a CD. For more information, visit the official websites of the banks mentioned above or consult a financial advisor.

References:
Ally Bank
Marcus by Goldman Sachs
Discover Bank
Synchrony Bank
Capital One

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