Best CD Rates Today, June 24, 2025: Up to 4.60% APY

The Federal Reserve closed out its latest meeting last week without changing interest rates -- a move that gives savers a bit more time to act. But with rate cuts still expected before the end of the year, today's strong CD offers might not be around for long.

Right now, short-term CDs are offering some of the best returns we've seen, with APYs ranging from 4.45% to 4.60%. One standout: a 9-month CD paying 4.60%.

If you want a low-risk way to earn solid interest, this could be a smart moment to lock in a rate. Below, we've highlighted the best CD offers available today.

• Newtek Bank, 9 months: 4.60% APY
• United Fidelity Bank, 6 months: 4.55% APY
• Rising Bank, 6 months: 4.51% APY
• United Fidelity Bank, 10 months: 4.50% APY
• Presidential Bank, 7 months: 4.50% APY
• Rising 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 June 23, 2025.

Is now a good time to open a CD?

If you're looking for steady returns and minimal risk, this could be an excellent time to open a CD. With interest rate cuts still a possibility as the year progresses, some banks have already started dialing back their best CD offers. Locking in a top APY now means you can take advantage of today's higher rates before they potentially slip away.

Here's why locking in a CD now makes sense:

• Current APYs are still among the highest we've seen in recent years.
• The Fed could lower rates soon, which would likely pull CD yields down with them.
• CDs are insured by the FDIC for up to $250,000 per depositor, per bank.

CDs are best suited for savers who don't need immediate access to their money and want a safe, steady return. If you're comfortable riding out market swings for the chance at higher long-term gains, investing in stocks could offer more upside -- but for those prioritizing security, CDs remain a solid option.

A $10,000 CD could earn you almost $500

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

1. Compare CD 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. Decide how much to deposit. Choose the amount 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. Note your maturity date. Make a calendar reminder for 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.

HYSAs vs. CDs -- get a high APY without losing access

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:

• 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.
• Set it and forget it -- Just deposit your money and let it grow. There's no need to worry about tracking CD maturity dates.
• Strong APYs -- Many HYSAs are offering interest rates that are just as good, or better, than short-term CDs.

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. Even better: It's an easy way to boost your savings without locking up your cash. Click here to learn more.