Best CD Rates Today, June 8, 2025: Up to 4.60% APY
KEY POINTS
- The top CD rate available today: 4.60% APY for a 9-month term.
- If the Fed cuts rates in the coming months, CD rates will also decrease.
- High-yield savings accounts are a great alternative to safely store your savings and maximize your interest earnings.
If you're looking for a safe place to grow your savings, now could be a smart time to consider a certificate of deposit (CD). Rates are still sitting near recent highs, with one bank offering as much as 4.60% APY on a 9-month CD. Others aren't far behind, with offers around 4.50% for terms between six and 10 months.
But these rates may not stick around for long. Many experts believe the Federal Reserve may start lowering interest rates later this year, which could cause CD rates to fall quickly. By opening a CD now, you can lock in one of today's stronger returns before rates start to slide.
Below, you'll find some of the best CD rates available right 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 6, 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 certificate of deposit now?
If you're looking for a safe way to grow your savings, opening a CD right now might be a smart move. Since the Federal Reserve is expected to lower interest rates later this year, some banks have already started cutting their top CD rates. By locking in one of today's higher APYs, you can secure a solid return before rates drop any further.
CDs offer steady growth with very little risk, and your money is protected by FDIC insurance up to $250,000 per person, per bank. They're a good fit if you want stability and don't need access to your funds right away. But if you're comfortable taking on more risk in hopes of earning higher long-term returns, the stock market might be a better option.
How a $10,000 CD can grow your savings by almost $500
How much money you make from a CD mostly comes down to the interest rate, how much you put in, and how long you leave it there.
For example, if you deposit $10,000 into a 14-month CD paying 4.25% APY, you'd pocket roughly $498 in interest by the time the CD matures -- and your original deposit stays safe the whole time.
That's a noticeable boost compared to most regular savings accounts, where rates are usually much lower and can change at any moment. 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: Get a great 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: 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 28, 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 28, 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, certificates of deposit are considered very safe. CDs offered by FDIC-insured banks or NCUA-insured credit unions are protected up to $250,000 per depositor, per institution, which means your principal is secure even if the bank or credit union fails.
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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.
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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.
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.