Best CD Rates This Week, July 6, 2026: The Fourth Is Over -- Time to Lock In a Top APY for Your Cash
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The long weekend is behind you, and July is officially underway. It's also shaping up to be an interesting month for CD savers. The Fed meets at the end of the month, and after June's dot plot surprised markets with a tilt toward rate hikes, nobody quite knows what comes next.
That kind of uncertainty is exactly why a fixed-rate CD makes sense. Whatever the Fed decides July 29th, your rate stays put.
Here are the best CD rates to look at this week.
Featured offers
EverBank CD Raisin
On Raisin's Secure Website.
CIT Bank No-Penalty CD
On CIT's Secure Website.
Best CD rates this week, July 6, 2026
| Bank | Term | APY | Minimum Deposit |
|---|---|---|---|
| Merrick Bank (through Raisin) | 42 Months | 4.30% | $1 |
| Merrick Bank (through Raisin) | 30 Months | 4.25% | $1 |
| United Fidelity Bank | 6, 18 Months | 4.25% | $1,000 |
| Medallion Bank (through Raisin) | 60 Months | 4.20% | $1 |
| Merrick Bank (through Raisin) | 24 Months | 4.20% | $1 |
| United Fidelity Bank | 10, 12, 24, 36, 48, 60 Months | 4.20% | $1,000 |
| LendingClub | 11 Months | 4.15% | $500 |
| Bread Financial | 9 Months | 4.15% | $1,500 |
Every CD featured above is FDIC-insured, meaning your deposits are protected up to $250,000 per bank. The right choice depends on two simple things -- how long you want to set your money aside and how much you're ready to invest.
- If you're after something short and sweet, United Fidelity Bank is offering a 6-month CD at 4.25% APY with a reasonable $1,000 minimum to open.
- Prefer to go long-term? Medallion Bank's 5-year CD through the Raisin platform pays 4.20% APY and has a super-low $1 minimum deposit requirement.
- And for those who want a middle ground, CIT's 11 Mo. no-penalty CD delivers a competitive option -- solid return, a reasonable $1,000 minimum deposit, and a term that keeps your cash accessible while still locking in today's higher yield.
CIT Bank No-Penalty CD
On CIT's Secure Website.
Why it pays to open a CD now
If your savings are sitting idle in a low-yield account, now's your chance to earn more. CDs let you lock in a higher rate before they fall further -- ideal for money you won't need to touch anytime soon.
A CD could be a good fit if:
- You already have a healthy emergency fund.
- Your retirement and investment goals are on track.
- You prefer reliable, fixed growth over the ups and downs of the market.
With a total of three Fed rate cuts in the second half of 2025, and more rate decisions looming as we move through 2026, current higher yields aren't guaranteed to last. Opening a CD now could help you secure a top-tier APY before they slip below 4.00%.
Example: Earn a quick and easy $892 -- guaranteed
One of the biggest perks of a CD is certainty. From the moment you open it, you'll know exactly how much you'll earn.
For instance, a $25,000 deposit in CIT's 11 Mo. no-penalty CD would grow to about $25,892 by maturity -- that's $892 in guaranteed interest, no market risk and no extra work.
Your rate stays fixed the entire time, so even if yields drop again, your earnings won't. Locking in now could make a meaningful difference to your total returns over the duration of the CD.
CIT Bank No-Penalty CD
On CIT's Secure Website.
Open a CD in 5 easy steps
Getting started takes only a few minutes. Here's the simple process:
- Compare rates. Check multiple banks -- online options often pay more.
- Choose your deposit. Most CDs don't let you add funds later, and early withdrawals can mean penalties.
- Apply. You can do it online or in-person -- have your ID, SSN, and bank details ready.
- Transfer funds. Move money from checking or savings; your rate locks once the deposit posts.
- Mark your calendar. Note your maturity date so you'll know when it's time to renew or withdraw.
Once it's funded, your CD starts earning right away. Click here to see today's best CD rates.
Prefer easy access to your cash?
If you'd rather stay flexible, a high-yield savings account (HYSA) could be a better match. Many top HYSAs are still paying rates close to short-term CDs -- but with full access to your funds.
- The benefit: You can move money anytime, no penalties.
- The catch: HYSA rates can change at any moment, while CD rates stay fixed until the term ends.
If you like earning more without losing flexibility, a top HYSA can be a solid alternative.
Featured HYSA: Right now, with the CIT Platinum Savings account, earn up to 4.10%* APY for a limited time with a savings balance of $5,000 or greater. Just use code CITBOOST at sign-up. Growing your savings balance has never been easier. Check out our full review to learn more, or click below to open an account now.
On CIT's Secure Website.
Member FDIC.
CIT Platinum Savings
On CIT's Secure Website.
= Best
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= Best
= Excellent
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= PoorOn CIT's Secure Website.
With the 6 month Boost limited-time offer, you earn 4.10%* APY on balances over $5,000 (balances less than $5,000 earn 0.60%* APY). After the boost is complete you will continue to earn standard rates -- 3.75% APY for balances over $5,000 (balances less than $5,000 earn 0.25% APY). The minimum to open a Platinum Savings account is $100. Member FDIC. No monthly service fees.
- Competitive APY
- No account opening or maintenance fees
- Unlimited number of external transfers (up to daily transaction limits)
- FDIC insured
- Interest compounds daily so your money can grow a bit faster
- Balance requirement for maximum APY
- No branch access; online only
CIT Platinum Savings is a no-frills high-interest savings account that offers one of the highest APYs we've found available today -- as long as you can maintain a $5,000 minimum balance. Plus, customers can make an unlimited number of transfers and withdrawals each month (many savings accounts have monthly limits).
Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of February 17, 2026.
* Platinum Savings APY Boost Promotion Terms and Conditions
This is a limited time offer available to New and Existing customers who meet the Platinum Savings APY Boost promotion criteria.
Accounts enrolled in the Platinum Savings Annual Percentage Yield (APY) Boost promotion will receive a 0.35% APY boost on the Platinum Savings current standard APY tiers for 6 months following the opening of a new account or when an existing Platinum Savings account is enrolled in the promotion. The Platinum Savings APY boost will be applied on account balances up to $9,999,999.00. Account balances above $9,999,999.00 will earn the standard APY. If the standard-published APY should change during the promotion period, the APY boost will move with it, offering an account APY above the standard rate.
The Promotion begins on February 13, 2026, and ends August 31, 2026. Customers enrolled in the promotion prior to the end date will receive the APY boost for the 6-month period outlined in the terms and conditions.
The promotion can end at any time without notice.
For complete list of account details and fees, see our Personal Account disclosures.
CIT General Disclosure
For complete list of account details and fees, see our Personal Account disclosures. https://www.cit.com/cit-bank/resources/forms
Our Picks for the Best High-Yield Savings Accounts of 2026
| Account | APY | Bonus | Next Steps |
|---|---|---|---|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
4.90/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor |
up to 3.80%
Rate info
Earn up to 3.80% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.10% APY as of 5/28/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Min. to earn: $0
|
Earn $50 or $400 and +0.70% Boost on Savings APY with direct deposit. Terms apply.
Earn up to 3.80% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.10% APY as of 5/28/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC. |
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Open Account for EverBank Bank High-Yield Savings Account from Raisin
On Raisin's Secure Website. |
4.15%
Rate info
Earn a guaranteed 4.15% APY for 90 days. After that, your savings keep growing at a competitive standard rate -- currently 3.95% APY (subject to change). No minimum account balance required. Deposit or withdraw at any time with no additional fees.
Min. to earn: $1
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Earn up to $1,200 when you sign up and fund your account using code SUMMER26.¹
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Open Account for EverBank Bank High-Yield Savings Account from Raisin
On Raisin's Secure Website. |
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Open Account for CIT Platinum Savings
On CIT's Secure Website.
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor |
up to 4.10%*
Rate info
4.10%* APY for balances of $5,000 or more; otherwise, 0.60%* APY
Min. to earn: $5,000
|
Earn up to 4.10% APY with promo code CITBoost
With the 6 month Boost limited-time offer, you earn 4.10%* APY on balances over $5,000 (balances less than $5,000 earn 0.60%* APY). After the boost is complete you will continue to earn standard rates -- 3.75% APY for balances over $5,000 (balances less than $5,000 earn 0.25% APY). The minimum to open a Platinum Savings account is $100. Member FDIC. No monthly service fees. |
Open Account for CIT Platinum Savings
On CIT's Secure Website. |
¹New customers only. Earn a cash bonus when you deposit and maintain funds with partner banks on the Raisin platform. Customers can earn up to $60 for depositing between $10,000 and $24,999 ($50 welcome bonus + $10 bonus boost when you set up two recurring deposits or more totaling $100), up to $150 for depositing between $25,000 and $49,999 ($125 welcome bonus + $25 bonus boost when you set up two recurring deposits or more totaling $250), up to $300 for depositing between $50,000 and $99,999 ($250 welcome bonus + $50 bonus boost when you set up two recurring deposits or more totaling $500), up to $600 for depositing between $100,000 and $199,999 ($500 welcome bonus + $100 bonus boost when you set up two recurring deposits or more totaling $1,000), and up to $1,200 for depositing $200,000 or more ($1,000 welcome bonus + $200 bonus boost when you set up two recurring deposits or more totaling $2,000).
To qualify for the bonus, you must be a new Raisin customer who signs up between June 1, 2026, and July 31, 2026, and the promo code SUMMER26 must be entered at the time of sign-up. Deposit at least $10,000 within 14 days of your first deposit. You can make one or multiple deposits during this window, and your total deposited amount determines your bonus tier. You may add more funds during the 14-day window to reach a higher bonus tier. Satisfying these base requirements is mandatory to unlock and earn the optional recurring deposit boost. You can add this boost during your 14-day window by setting up an automated schedule that posts at least twice during the 90-day holding period. The recurring deposit boost is an extra cash reward earned by setting up an automated savings schedule within your first 14 days that posts at least twice during the 90-day holding period. Your base welcome bonus tier sets the maximum cap for this extra reward. If you choose to skip it, you will still earn your base welcome bonus by meeting the standard qualifying terms. However, you cannot earn the recurring boost on its own; satisfying the base welcome bonus requirements is mandatory to unlock it.
Once the deposit window closes, your balance must remain at or above your qualifying bonus tier for 90 days. If your balance drops below that amount during the 90-day period, you may no longer be eligible for that bonus. Only funds deposited within 14 days of the initial deposit date and maintained with partner banks on the Raisin platform for 90 days will be eligible for this bonus.
Bonus cash will be deposited by Raisin into the customer’s Cash Account within 30 days of meeting all qualifying terms. This offer is available to new customers only and may not be combined with any other bonus offers. Raisin reserves the right to modify or terminate this offer at any time.
Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of February 17, 2026.
* Platinum Savings APY Boost Promotion Terms and Conditions
This is a limited time offer available to New and Existing customers who meet the Platinum Savings APY Boost promotion criteria.
Accounts enrolled in the Platinum Savings Annual Percentage Yield (APY) Boost promotion will receive a 0.35% APY boost on the Platinum Savings current standard APY tiers for 6 months following the opening of a new account or when an existing Platinum Savings account is enrolled in the promotion. The Platinum Savings APY boost will be applied on account balances up to $9,999,999.00. Account balances above $9,999,999.00 will earn the standard APY. If the standard-published APY should change during the promotion period, the APY boost will move with it, offering an account APY above the standard rate.
The Promotion begins on February 13, 2026, and ends August 31, 2026. Customers enrolled in the promotion prior to the end date will receive the APY boost for the 6-month period outlined in the terms and conditions.
The promotion can end at any time without notice.
For complete list of account details and fees, see our Personal Account disclosures.
CIT General Disclosure
For complete list of account details and fees, see our Personal Account disclosures. https://www.cit.com/cit-bank/resources/forms
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Sources
FAQs
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A certificate of deposit (CD) is a savings product that holds your money for a set period -- typically anywhere from 6 months to 5 years -- in exchange for a fixed interest rate. You'll earn interest over time, and when the term ends (called "maturity"), you can withdraw your original deposit plus the earned interest.
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Yes -- especially with top APYs still available around 4.00%. CDs offer a fixed, predictable return, making them a great option if you want to earn more than a regular savings account without taking on stock market risk.
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Yes. CDs from banks and credit unions are typically insured up to $250,000 by the FDIC or NCUA, making them one of the safest ways to earn a guaranteed return.
Our Research Expert
James McClenathen is a full-time Managing Editor and Personal Finance Writer at Motley Fool Money, overseeing the production and quality of editorial content while also writing about credit cards, investing, and everyday money management. He has worked at The Motley Fool since 2012 and brings extensive experience as an editor, reporter, and finance expert. A graduate of the University of Michigan, James has spent more than a decade of his career helping readers make smarter financial decisions.
Motley Fool Stock Disclosures
James McClenathen has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Axos Financial. The Motley Fool has a disclosure policy.No-Penalty/11-MO CD
APY — Annual Percentage Yield is accurate as of July 1, 2026. $1,000 minimum to open the account.
With a No-Penalty CD, you may withdraw the total balance and interest earned, without penalty, beginning 7 days after funds have been received for your CD. No withdrawals are permitted during the first 6 days following the receipt of funds.
CIT General Disclosures
For complete list of account details and fees, see our Personal Account disclosures.