Best CD Rates This Week, June 29, 2026: Summer Is Here -- Don't Let Your Savings Sit Idle
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The first full week of summer has officially passed, and if your money is still parked in a low-yield savings account, it's working a lot less hard than it could be.
A fixed-rate CD puts your cash to work at a locked-in rate -- no surprises, no second-guessing. That's a pretty good trade as the summer stretches out ahead of you.
Here are the best CD rates available 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, June 29, 2026
| Bank | Term | APY | Minimum Deposit |
|---|---|---|---|
| Medallion Bank (through Raisin) | 60 Months | 4.20% | $1 |
| United Fidelity Bank | 24, 36, 48, 60 Months | 4.20% | $1,000 |
| United Fidelity Bank | 6, 18 Months | 4.15% | $1,000 |
| Medallion Bank (through Raisin) | 36, 48 Months | 4.15% | $1 |
| Merrick Bank (through Raisin) | 36, 48 Months | 4.15% | $1 |
| LendingClub | 11 Months | 4.15% | $500 |
| Bread Financial | 9 Months | 4.15% | $1,500 |
Every CD featured here is FDIC-insured, so your deposits are safe up to $250,000. The right fit really comes down to two things -- how long you're willing to set your money aside and how much you plan to invest.
If you're after a short-term win, United Fidelity Bank is offering 4.15% APY on a 6-month CD with a $1,000 minimum to open. Want to lock in for longer? Medallion Bank is offering a 60-month CD at 4.20% APY, with a super-low $1 minimum deposit through the Raisin platform. Both options deliver steady, predictable growth.
And for those who want a middle ground, Quontic's 1 Year CD delivers a competitive option -- solid return, low $500 minimum deposit, and a term that keeps your cash accessible while still locking in today's higher yield.
Quontic CD
On Quontic's Secure Website.
Why now could be the ideal time to open a CD
If you've got cash sitting in savings earning next to nothing, a certificate of deposit could be an excellent way to lock in still-competitive rates. CDs are built for money you won't need for a while -- whether that's a few months or a few years -- and reward patience with guaranteed returns.
A CD may be worth considering if:
- You already have an emergency fund covering three to six months of expenses.
- Your long-term goals, like retirement, are on track with other investments.
- You prefer steady growth and less exposure to market swings.
With fixed APYs and FDIC insurance up to $250,000, CDs offer both security and peace of mind. And with the future of rates still up in the air, now is a great opportunity to capture a solid rate before they start fluctuating.
Example: Earn a quick and easy $875 -- 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 Quontic's 1 Year CD would grow to about $25,875 by maturity -- that's $875 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. See our full Quontic CD review to learn more.
Quontic CD
On Quontic's Secure Website.
How to open a CD
Getting started takes just a few minutes. Here's how:
- Compare rates. Browse several banks -- online institutions often have the best offers.
- Decide your deposit. You usually can't add funds later, and early withdrawals come with penalties.
- Apply. Submit your info online or at a branch -- ID, Social Security number, and bank details.
- Transfer funds. Move money from checking or savings; your rate locks once the deposit posts.
- Track your maturity date. Set a reminder so you'll know when to withdraw or renew.
Once your CD is funded, your money starts earning automatically. Click here to see today's best CD rates.
Grow your money and keep it accessible
If you'd rather keep your cash within reach, a high-yield savings account (HYSA) might be the better call. Some of the best HYSAs right now are paying APYs close to what short-term CDs offer -- without locking up your money.
The upside is easy access: you can add or withdraw whenever you want, no fees or penalties. The downside? Rates can change at any time, unlike CDs, which hold your yield steady until the term ends.
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 July 1, 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.
CIT General Disclosure
For complete list of account details and fees, see our Personal Account disclosures.
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 NexBank High-Yield Savings Account from Raisin
On Raisin's Secure Website.
4.70/5
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 |
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 3.97% APY (subject to change). No minimum account balance required. Deposit or withdraw at any time with no additional fees. See product terms for complete details.
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
|
Open Account for NexBank High-Yield Savings Account from Raisin
On Raisin's Secure Website. |
|
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. |
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 July 1, 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.
CIT General Disclosure
For complete list of account details and fees, see our Personal Account disclosures.
¹New customers only. Earn a cash bonus (the "Base Bonus") when you deposit and maintain funds with partner banks on the Raisin platform. Customers will receive a Base Bonus of $50 for depositing between $10,000 and $24,999; $125 for depositing between $25,000 and $49,999; $250 for depositing between $50,000 and $99,999; $500 for depositing between $100,000 and $199,999; and $1,000 for depositing $200,000 or more.
Customers may earn an additional bonus by setting up a recurring deposit within 14 days of their initial deposit (the “Recurring Deposit Bonus”). To qualify, the recurring deposit must be established within 14 days of the initial deposit date and it must execute at least two (2) times within 90-days of the initial deposit. Recurring Deposit Bonus eligibility is determined by your Base Bonus tier:
- Customers depositing between $10,000–$24,999 with aggregate recurring deposits of $100 or greater receive a $10 bonus
- Customers depositing between $25,000–$49,999 with aggregate recurring deposits of $250 or greater receive a $25 bonus
- Customers depositing between $50,000–$99,999 with aggregate recurring deposits of $500 or greater receive a $50 bonus
- Customers depositing between $100,000–$199,999 with aggregate recurring deposits of $1,000 or greater receive a $100 bonus
- Customers depositing between $200,000+ with aggregate recurring deposits of $2,000 or greater receive a $200 bonus
Customers are eligible to earn the Recurring Deposit Bonus associated with their Base Bonus tier or any lower Recurring Deposit Bonus tier. For example, a customer with an initial deposit of $200,000 (qualifying for the highest Base Bonus tier) whose aggregate recurring deposits total $500, is eligible for the lower tier and will receive the $50 Recurring Deposit Bonus. However, setting up a recurring deposit greater than your Base Bonus tier's required threshold will not qualify you for a higher Recurring Deposit Bonus.
The Recurring Deposit Bonus is paid in addition to the Base Bonus. To qualify for the Base Bonus and Recurring Deposit Bonus, your first deposit must be initiated between June 1, 2026, and August 31, 2026, by 11:59 PM ET, and the promo code SUMMER26 must be entered at the time of sign-up. 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 the Base Bonus. Bonus cash will be credited directly to your 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 may modify or end this offer at any time and may withhold or revoke bonuses in cases of fraud, abuse, or violation of these terms or Raisin’s Terms of Service.
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FAQs
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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.
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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.
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.