Top CD rates today: June 10, 2025 | Best APYs range 4.15%-4.49%
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Key takeaways
- The highest CD rate across terms is 4.49 percent APY, offered for a six-month term.
- Competitive CDs are earning around double the national average rates, for various terms.
- After cutting its benchmark federal funds rate three times in 2024, the Federal Reserve has left the rate untouched in 2025. CD APYs declined in response to the Fed's cuts, yet they remain historically high.
Opening a fixed-rate certificate of deposit (CD) now should give you peace of mind that your savings will continue to earn the same annual percentage yield (APY) should rates continue to retreat. APYs on many competitive CDs decreased gradually leading up to the Federal Reserve's three rate cuts in late 2024, and they slipped further in their wake. They've been relatively stable in recent months, however.
Currently, the highest APY you’ll find on popular CD terms is 4.49 percent, which is offered on a term of six months. Slightly lower APYs of up to 4.40 percent are available on terms between one year and five years. Competitive CD rates have remained relatively stable in recent months, and that trend could continue if officials leave the Federal Reserve’s key benchmark rate unchanged when they meet next week.
Check out Bankrate’s table below for the highest APY on CD terms from three months to five years, as well as approximately how much $10,000 would earn for each term.
Today's CD rates by term
| Term | Institution | Highest APY | National average APY | Minimum deposit | Estimated earnings on $10,000 |
|---|---|---|---|---|---|
| 3-month | Popular Direct | 4.40% | 1.45% | $10,000 | $108 |
| 6-month | First Internet Bank of Indiana | 4.49% | 1.93% | $1,000 | $222 |
| 9-month | CIBC Bank USA | 4.31% | N/A | $1,000 | $322 |
| 1-year | First Internet Bank of Indiana | 4.40% | 2.00% | $1,000 | $440 |
| 18-month | TAB Bank | 4.16% | 2.25% | $1,000 | $630 |
| 2-year | Popular Direct | 4.15% | 1.77% | $10,000 | $847 |
| 3-year | Popular Direct | 4.15% | 1.70% | $10,000 | $1,297 |
| 4-year | Popular Direct | 4.15% | 1.84% | $10,000 | $1,766 |
| 5-year | Popular Direct | 4.20% | 1.72% | $10,000 | $2,284 |
Note: Annual percentage yields (APYs) shown are as of June 10, 2025. APYs for some products may vary by region.
N/A: Not available; Bankrate doesn’t track national averages for the 9-month CD term due to limited available data. Estimated earnings are based on the highest APYs and assume interest is compounded annually.
How much $2,000 could earn you in a one-year CD
Currently, the highest offering on a one-year CD is 4.40 percent APY. According to Bankrate’s CD calculator, if you invest $2,000 you would earn $88 in interest within a year.
The highest one-year CD APY is currently more than twice the national average for a one-year term. While the top one-year APY has decreased from 5.36 percent one year ago, it’s still comparable with many high-yield savings accounts — and it’s still outpacing the rate of inflation.
How inflation impacts monetary policy
After holding the federal funds rate steady since July 2023 to combat high inflation, officials cut the rate by a combined total of one percentage point, or 100 basis points, in three rate-setting meetings in late 2024. The rate cuts came at a time when the consumer price index (CPI), a measure of inflation, had been decreasing significantly from its decades-high annual rate of 9.1 percent in June 2022. In late 2024 and early 2025, inflation started to tick back up, although in recent months it’s been decreasing and currently stands at 2.3 percent. Policymakers have held the federal funds rate steady so far in 2025.
"Despite heightened uncertainty, the economy is still in a solid position," Fed Chair Jerome Powell said in remarks following the Federal Open Market Committee meeting on May 7. "The unemployment rate remains low, and the labor market is at or near maximum employment. Inflation has come down a great deal but has been running somewhat above our 2 percent longer-run objective."The current rate of inflation is a significant factor that affects what the Fed decides to do with rates. A decrease in the federal funds rate, say close to or below the current inflation rate of 2.3 percent, can be bad for savers. Namely, it can translate to lower APYs on many CDs and savings accounts. Meanwhile, a fed rate cut can be good for borrowers as interest rates tend to decrease on loans.
CD glossary
Here are some terms you’ll likely come across when choosing a CD.
- Add-on CD: An add-on CD enables you to make additional deposits after your initial investment. This feature affords more flexibility than traditional CDs, which only allow one deposit at the beginning of the term.
- Annual percentage yield (APY): A percentage that indicates how much interest a CD earns in one year, which takes into account the effect of compounding.
- Brokered CD: A type of CD issued by a bank but sold through a brokerage firm or other financial institution.
- Bump-up CD: Also known as a “raise-your-rate CD,” a bump-up CD provides savers with the option to increase the CD’s APY without having to change its term. Generally, only one rate increase is allowed during its term.
- CD ladder: An investment strategy that involves purchasing multiple CDs with varying maturity dates to provide liquidity and take advantage of higher rates.
- Early withdrawal penalty: A fee charged if funds are withdrawn from a CD before the maturity date. Penalties often range anywhere from 90 days to 365 days’ worth of interest.
- Grace period: A specific time after the maturity date during which an account holder can make changes to the CD without penalties. A grace period typically ranges from five to 14 days.
- IRA CD: A CD that’s held within an individual retirement account.
- Jumbo CD: A CD that has a high minimum balance requirement, typically $100,000, sometimes as low as $95,000. This type of CD tends to offer a higher interest rate than regular CDs with the same term.
- Minimum opening deposit: The lowest amount of money required to open a CD account, which can vary by institution. Some institutions don’t have a minimum deposit requirement.
- No-penalty CD: A type of CD that allows you to withdraw your money without facing a penalty while providing a fixed APY.
- Promotional CD: Also known as a bonus or special CD, it’s a CD with an above average APY. These may be offered by banks and credit unions as a way to obtain new customers.
- Share certificate: At credit unions, CDs are often referred to as "share certificates".