Best CD Rates Today, July 3, 2025: Up to 4.55% APY

CD rates are kicking off July on a strong note -- but how long that lasts is still uncertain. With the Fed's next meeting scheduled for the end of the month, savers have a bit more time to lock in today's top yields. That said, expectations of rate cuts later this year mean these returns may not stick around much longer.

Right now, short-term CDs are offering the most competitive rates. One of the best deals available is a 6-month CD with a 4.55% APY.

If you're looking for a low-risk way to grow your money, now might be a good time to take advantage. Below, we've rounded up the best CD rates available today.

• United Fidelity Bank, 6 months: 4.55% APY
• United Fidelity Bank, 10 months: 4.50% APY
• Presidential Bank, 7 months: 4.50% APY
• Newtek Bank, 6 months: 4.50% APY
• T Bank, 12 months: 4.45% APY

Featured pick: Now could be one of the last chances to lock in a yield this high before rates start to fall. LendingClub's 14-month CD currently offers 4.25% APY with just a $500 minimum deposit. Check out LendingClub's 14-month CD here.

Data source: Issuing banks. Rates are accurate as of July 2, 2025.

Should you open a CD now?

Even with a few banks starting to trim rates, CD yields remain strong -- but they may not stay that way for long. Many experts expect the Fed to begin cutting interest rates later in 2025, possibly as soon as the end of this month.

If you're looking for a safe place to grow your money and want to lock in today's higher returns, opening a CD now could make sense. CDs come with the security of FDIC insurance -- up to $250,000 per depositor, per bank -- and offer predictable earnings with little risk.

While the stock market may offer bigger gains, it also comes with more volatility. For savers who value stability and peace of mind, a CD is a solid choice.

Earn almost $500 with a $10K CD

Your earnings from a CD come down to three things: the interest rate, how much you put in, and the length of the term.

For example, let's say you deposit $10,000 into a 14-month CD with a 4.25% APY. By the time it matures, you'd earn roughly $498 in interest -- all while keeping your original deposit safe and untouched.

That's a nice bump compared to most traditional savings accounts, where rates tend to be much lower and can change at any time. Locking in a top CD rate today, like LendingClub's 14-month CD, can help you maximize your returns before rates drop. See LendingClub's 14-month CD details here.

How to open a certificate of deposit

Opening a CD is a straightforward process, and getting started only takes a few minutes. Here's how to do it:

1. Find the best offer. Start by comparing CD rates and term lengths across different banks and credit unions. Online banks often have higher yields than traditional ones, so it's worth exploring all your options.
2. Pick your deposit amount. Decide how much you want to set aside. Since most CDs don't allow additional deposits and charge a penalty for early withdrawal, choose an amount you won't need until the term ends.
3. Apply for the CD. You can open a CD either online or by visiting a branch. Have your personal information handy -- such as a valid ID, your Social Security number, and bank account details.
4. Fund the account. Transfer money from your existing account into the CD. Once the funds are in, your rate and term are locked in for the duration.
5. Track your maturity date. Make note of when your CD matures. Set a reminder so you can decide whether to withdraw the funds or roll them into a new CD when the time comes.

When you're ready, click here to explore the best CD rates and open a high-yield CD today.

CDs vs. high-yield savings accounts: Earn a top APY without losing access to your cash

Want to earn solid interest but still have the freedom to use your money? A high-yield savings account might be a better option than a CD. Here's why HYSAs offer more flexibility:

• Strong APYs -- Many HYSAs are offering interest rates that are just as good, or better, than short-term CDs.
• Set it and forget it -- Just deposit your money and let it grow. There's no need to worry about tracking CD maturity dates.
• No time commitment -- You're free to add or withdraw funds as needed, without facing early withdrawal penalties.
• Quick access -- Transfers to and from your account are fast and easy when life throws something unexpected your way.

You don't have to lock up your cash to get a great return.

One standout right now is SoFi Checking and Savings (Member FDIC). This top-rated account offers up to 3.80% annual percentage yield (APY) on savings with qualifying direct deposits. It's an easy way to boost your savings without locking up your cash. Click here to learn more.