Best CD Rates Today, June 29, 2025: Up to 4.55% APY

The Fed held steady at its meeting earlier this month, keeping interest rates unchanged -- a move that gives savers a bit more breathing room to snag competitive CD rates. But with potential rate cuts still on the horizon later this year, today's top yields might not stick around for long.

Short-term CDs are currently offering the strongest returns, with APYs ranging from 4.50% to 4.55%. One standout: a 12-month CD paying 4.55% APY.

If you're aiming for a safe, steady way to grow your savings, now could be a smart time to lock in a solid return. Here's a look at the best CD rates available today.

• T Bank, 12 months: 4.55% APY
• 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

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 27, 2025.

Is now a good time to open a CD?

If you're looking for steady returns without much risk, opening a certificate of deposit now could be a smart move. CD rates are still hovering near their highest levels in years -- but they may not stay that way for long.

With the Fed expected to cut interest rates later this year, some banks have already started lowering CD yields. Locking in a top rate now could help you stay ahead of the curve.

Here's why CDs are worth considering right now:

• APYs remain attractive compared to recent years.
• Rate cuts could drive yields lower in the months ahead.
• CDs are protected by FDIC insurance, up to $250,000 per depositor, per bank.

Just keep in mind: CDs aren't ideal if you'll need quick access to your money. But if you want a safe, predictable way to grow your savings, they offer peace of mind that's tough to match.

A $10,000 CD could earn you nearly $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 CD

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.

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