Top CD rates today: June 23, 2025 | Leading rate of 4.51% APY holds steady

Like a savings account, a certificate of deposit (CD) is an account where you can stash some of your savings, usually risk free, and earn a nominal amount of interest. A CD differs in that it offers a fixed interest rate for the duration of its term. If you enroll in a CD at a time before interest rates fall, your CD’s rate remains the same for its term. What’s more, a CD rate can be higher than the rate on a standard savings account, although a CD usually requires that you commit your cash for the entire term, with early withdrawals resulting in a penalty.

For today, the top APY across CD terms is 4.51 percent, which is offered on a six-month term from Rising Bank, and requires a $1,000 minimum deposit. Top rates across CD terms that Bankrate's editorial team tracks have remained unchanged since Friday, June 19, 2025. You’ll find that many shorter terms are earning higher yields than longer ones in the current rate environment.

The table below shows top CD rates for the most common terms, as well as national averages and the estimated amount you can earn in interest with a $10,000 deposit.

Today's CD rates by term

Note: Annual percentage yields (APYs) shown are as of June 23, 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 to open a CD account today

Once you’ve found the bank or credit union where you want to open your CD, you're ready to submit your application. Typically, you can do this online by navigating to the CD page and clicking on “Open a CD” or “Get Started”. Some institutions may require you to open a CD in a branch. Note that at credit unions, CDs are often referred to as share certificates.

You will need to enter personal information as you do when opening any bank account, including your name, Social Security number and contact information. You may also need a driver’s license or other identification for verification.

Once your account is open, it’s time to fund your account with at least the minimum balance required. You’ll also choose how to receive your interest disbursements – either reinvest the interest in your CD over time to take advantage of compound growth or receive interest payments directly.

Learn more: How to open a CD

Recent trends in top CD rates

Competitive CD APYs trended downward throughout 2024 and have decreased somewhat in 2025. For example, the highest one-year CD APY at the start of January 2024 was 5.66 percent, whereas it was 4.45 percent on June 19, 2025. Among the popular terms Bankrate monitors for this page, all rates saw steeper declines in the second half of 2024, as compared to the first half.

"With uncertainty around the broader macroeconomic conditions and how the Fed will respond to those positions, how CD rates will move is uncertain, and could change as inflation, unemployment and economic growth change," says Adam Stockton, head of retail deposits and lending at Curinos.

Learn more: Are CDs worth it right now? Here's what experts say

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".

• Research methodology

  Bankrate calculates and reports the national average APYs for various CD terms. Factored into national average rates are the competitive APYs commonly offered by online banks, along with the very low rates often found at large brick-and-mortar banks.

  In June 2023, Bankrate updated its methodology that determines the national average CD rates. For the process, more than 500 banks and credit unions are now surveyed each week to generate the national averages. Among these institutions are those that are broadly available and offer high yields, as well as some of the nation’s largest banks.