Best CD Rates Today, June 10, 2025: Up to 4.60% APY

Today's best CD rate is 4.60% APY for a 9-month term. Short-term CDs currently offer the highest interest rates, with APYs around 4.50% for terms of six to 10 months.

If you're thinking of opening a CD, now is a good time. The Federal Reserve is expected to lower interest rates later this year. Rate cuts could be announced as soon as the Fed's June 17-18 meeting, though experts and futures traders agree that the Fed will likely hold rates steady for now.

Either way, signs point to falling interest rates in 2025. Check out today's best CD rates and consider locking in a high APY now.

• Newtek Bank, 9 months: 4.60% APY
• United Fidelity Bank, 6 months: 4.55% APY
• United Fidelity Bank, 10 months: 4.50% APY
• OMB, 9 months: 4.50% APY
• Presidential Bank, 7 months: 4.50% APY
• SouthEast Bank, 6 months: 4.50% 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 June 9, 2025.

Is now a good time to open a certificate of deposit?

If you're looking for a safe way to grow your savings, this might be the right time to open a CD. With the Federal Reserve expected to lower interest rates later this year, some banks have already begun cutting their top CD rates. Locking in a CD now allows you to take advantage of today's higher APYs before rates drop any further.

CDs provide steady, predictable growth with very little risk. Plus, your deposits are protected by FDIC insurance for up to $250,000 per person, per bank. They're a great option if you want stability and don't need to touch your money right away. But if you're willing to take on more risk for the chance at bigger long-term gains, investing in the stock market could offer more upside.

How $10,000 in a CD could earn you nearly $500

The amount you earn with a CD depends on three main factors: the interest rate, your deposit amount, and how long you commit the money.

For instance, putting $10,000 into a 14-month CD with a 4.25% APY would earn you around $498 in interest by the time it matures -- and your initial deposit stays fully protected the entire time.

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 CD

Opening a CD is simple and can be done in just a few easy steps:

1. Compare rates and terms. Shop around at different banks to find the best APY and term length that match your savings goals. Online banks often offer better rates than traditional ones.
2. Choose your deposit amount. Decide how much you want to invest, keeping in mind that early withdrawals usually come with penalties, so pick an amount you can leave untouched for the full term.
3. Open your account. You can open a CD online or in person at a bank branch. Be prepared to provide personal information, such as your ID and banking details.
4. Fund your CD. Transfer funds from your checking or savings account into the CD. Once funded, your interest rate and term are locked in.
5. Track your maturity date. Make a note of when your CD matures so you can decide whether to withdraw your money or renew it when the term ends.

Remember, each CD allows only one deposit. Plan your amount wisely. When you're ready, click here to explore the best CD rates and open a high-yield CD today.

High-yield savings accounts vs. CDs: Get a top-tier APY and keep your cash flexible

Looking for strong returns without locking your money away? A high-yield savings account could be a better fit than a CD. Here's why HYSAs offer more freedom:

• No lock-in period -- Add or withdraw funds whenever you want, with no early withdrawal penalties.
• Easy access -- Move money between accounts quickly whenever you need it.
• Low maintenance -- Deposit your money and let it grow, no need to track maturity dates like with CDs.
• Competitive rates -- While rates can change, many HYSAs currently offer APYs that rival short-term CDs.

The bottom line: you can enjoy high returns while still having full access to your savings.

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. Even better: New customers earn an extra 0.20% APY on savings for up to 6 months + up to $300 bonus with eligible direct deposits. Terms apply. It's an easy way to boost your savings without locking up your cash. Click here to learn more.