Best CD Rates Today, June 5, 2025: Up to 4.60% APY
KEY POINTS
- The leading CD rate available now: 4.60% APY.
- If the Fed moves forward with rate cuts before the end of the year, CD rates are likely to drop.
- Hesitant about locking away your cash in a CD? Stash it in a high-yield savings account instead to earn a similar APY with more flexibility.
Want to grow your savings without taking on much risk? Right now might be a smart time to open a certificate of deposit (CD), with rates still hovering near recent highs. For example, one bank is offering a 4.60% APY on a 9-month CD, while others have rates around 4.50% for terms ranging from six to ten months.
These attractive rates may not last much longer, however. Many experts predict the Federal Reserve could begin cutting interest rates later this year, which may cause CD yields to drop quickly. Opening a CD now allows you to lock in today's higher rates before that happens.
Here are some of the best CD rates currently available.
- 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 4, 2025.
Best CD Rates at Top Banks in June 2025
LendingClub CD
On LendingClub's Secure Website.
Discover® Bank CD
On Discover Bank's Secure Website.
Western Alliance Bank CD
On Raisin's Secure Website.
Unlike other banking products we evaluate, certificates of deposit (CDs) do not receive a star rating from us. This approach is due to the frequent updates in interest rates and terms associated with CDs. Instead, we highlight CDs on our best-of list pages based on their annual percentage yield (APY) and the fees associated with early withdrawals. Our top CD selections typically offer competitive APYs without complex qualification tiers, low early withdrawal penalties, reliable strong brand reliability, and user-friendly features.
Motley Fool Money focuses exclusively on standard CDs and does not review IRA CDs, bump-up CDs, callable CDs, or other specialized CD accounts.
Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.
Unlike other banking products we evaluate, certificates of deposit (CDs) do not receive a star rating from us. This approach is due to the frequent updates in interest rates and terms associated with CDs. Instead, we highlight CDs on our best-of list pages based on their annual percentage yield (APY) and the fees associated with early withdrawals. Our top CD selections typically offer competitive APYs without complex qualification tiers, low early withdrawal penalties, reliable strong brand reliability, and user-friendly features.
Motley Fool Money focuses exclusively on standard CDs and does not review IRA CDs, bump-up CDs, callable CDs, or other specialized CD accounts.
Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.
Should you open a CD?
If you want a safe and steady way to grow your savings, now might be a good time to consider opening a CD. With the Federal Reserve expected to cut interest rates later this year, some banks have already started lowering their top CD offers. Locking in one of today's higher APYs could help you secure reliable returns before rates drop any further.
CDs come with low risk, steady growth, and FDIC insurance that protects up to $250,000 per person, per bank. They're a solid choice if you're looking for stability and don't need immediate access to your money. But if you're comfortable with more risk and are aiming for higher long-term gains, the stock market might offer more upside.
How a $10,000 CD could earn you nearly $500
The amount you earn from a CD depends on three key things: the APY, how much you deposit, and how long you leave the money in.
Take this example: if you put $10,000 into a 14-month CD with a 4.25% APY, you'd earn around $498 in interest by the time it matures -- all with very little risk to your initial deposit.
That's a big difference compared to most traditional savings accounts, where rates tend to be 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:
- 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.
- 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.
- 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.
- Fund your CD. Transfer funds from your checking or savings account into the CD. Once funded, your interest rate and term are locked in.
- 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.
HYSAs vs. CDs: Earn a top-tier APY without locking up your cash
Want solid returns without tying up your money? A high-yield savings account might be a better option than a CD. Here's why HYSAs offer more flexibility:
- No commitment required -- You can deposit or withdraw funds anytime with no early withdrawal penalties.
- Quick access -- Transfers between accounts are fast and easy when you need your money.
- Set it and forget it -- Just park your cash and let it grow. There's no need to worry about maturity dates like with CDs.
- Competitive rates -- HYSA rates can fluctuate, but many currently match or beat short-term CD offers.
Bottom line: you can earn a strong APY without giving up 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: It's an easy way to boost your savings without locking up your cash. Click here to learn more.
Our Picks for the Best High-Yield Savings Accounts of 2025
| Product | APY | Min. to Earn | |
SoFi Checking and Savings
Member FDIC.
APY
up to 3.80%
Rate info
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
Min. to earn
$0
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
up to 3.80%
Rate info
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
|
$0
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
American Express® High Yield Savings Account
Member FDIC.
APY
3.60%
Rate info
3.60% annual percentage yield as of June 27, 2025. Terms apply.
Min. to earn
$0
Open Account for American Express® High Yield Savings Account
On American Express's Secure Website. |
3.60%
Rate info
3.60% annual percentage yield as of June 27, 2025. Terms apply.
|
$0
|
Open Account for American Express® High Yield Savings Account
On American Express's Secure Website. |
CIT Platinum Savings
Member FDIC.
APY
4.00% APY for balances of $5,000 or more
Rate info
4.00% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn
$100 to open account, $5,000+ for max APY
Open Account for CIT Platinum Savings
On CIT's Secure Website. |
4.00% APY for balances of $5,000 or more
Rate info
4.00% APY for balances of $5,000 or more; otherwise, 0.25% APY
|
$100 to open account, $5,000+ for max APY
|
Open Account for CIT Platinum Savings
On CIT's Secure Website. |
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Sources
- https://www.newtekbank.com/certificate-of-deposit/
- https://www.unitedfidelity.com/high-yield-certificates-of-deposit/
- https://www.ombbank.com/personal-banking/personal-savings/certificates-of-deposit/9-month-cd-special
- https://www.presidential.com/personal/banking/cds
- https://www.southeastbank.com/personal-banking/bank-accounts/bank-cds/
FAQs
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Yes, but it usually comes with a penalty. If you take money out before the CD matures, you'll likely lose some or all of the interest you've earned -- sometimes even a bit of your original deposit, depending on the bank's rules.
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When a CD reaches its maturity date, you'll have a short window -- usually seven to 10 days -- to withdraw your money or move it into a new CD. If you don't take action, the bank may automatically roll it into a new CD, often at a different rate or term.
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The biggest downside of a certificate of deposit is the lack of liquidity. When you invest in a CD, your money is locked in for a fixed term, and withdrawing it early can result in loss of interest. This means you have less flexibility to access your funds if you need them before the CD matures.
Our Research Expert
Managing editor for Motley Fool Money. James has worked full-time for The Motley Fool since 2012. A longtime editor and former reporter, James oversees the production and quality of Motley Fool Money's editorial content.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page. APYs are subject to change at any time without notice.