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Top CD Rates Today: June 6, 2025 — Earn Up To 4.71% APY

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Single Sparkle
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One of the fastest ways to grow your money is to make sure it is doing the earning for you, and not the other way around. If you don’t want to take higher risks with your investments, like with stocks or bonds, a high-yield savings product is your next best bet.

Certificates of deposit are a great way to invest your funds and know exactly how much you’ll have at the end of its term length.

Single SparkleQuick Pick

Today’s featured pick is the 5-year CD account from Copper Basin Federal Credit Union. This account has an APY of 4.33%. With a $1,000 minimum deposit, it’s a great option if you’re looking for a safe way to earn a competitive return.

The Federal Reserve has lowered interest rates by a full percentage point since September, making now a smart time to lock in a high APY before CD rates potentially decline. Read on to see today’s top CD rates .

Top CD Rates as of June 6, 2025

Here’s a look at the top CD rates for today:

History of Top CD Rates: 2010 to 2025

The economy has had its ups and downs, and CD rates have changed right along with it. To get a sense of where rates might be headed, it helps to look at where they’ve been.

  • Early 2010s: CD rates were relatively low following the 2008 financial crisis. Most banks offered rates below 0.42%, a trend that continued as the economy slowly recovered.
  • Mid-2010s: Rates began to inch up but remained modest. By the end of 2019, longer-term CDs were barely crossing 0.60%.
  • From 2022 onwards: Rates surged dramatically, with the best CD rates exceeding 5.00% due to the Federal Reserve’s aggressive response to rising inflation.
  • By December 2023: Some banks were offering 12-month CD rates of 5.30% or more.
  • Today: Despite the Fed cutting rates for the first time since 2020, CD rates remain historically high. Top offers include Community Bank & Trust’s 3-month CD at 4.71% APY and Elements Financial’s 1-year CD at 4.66% APY.

How CDs Work

CDs are a type of savings account with a fixed interest rate and a set maturity date. When you open a CD, you agree not to withdraw your money until the term ends, which can range from a few months to several years. If you do decide to take your money out early, you’ll likely have to pay an early withdrawal penalty.

Here are some other key points to know:

  • CDs offer fixed interest rates for the duration of their term, making them a predictable investment.
  • Some common CD terms are 3, 6, 12 and 18 months.
  • When you open a CD at a bank or credit union , it’s covered by federal insurance. FDIC coverage applies to CDs at banks. NCUA coverage applies to CDs at credit unions.

Types of CDs

There are various types of CDs available to savers. Here’s a look at a few.

No-Penalty CDs

No-penalty CDs allow you to access your funds before maturity without a penalty or fee. This is a flexible option for savers who might need to withdraw funds unexpectedly.

Fixed-Rate CDs

A fixed-rate CD offers a set interest rate for the duration of the investment. This type is great if you want predictable returns and protection from falling interest rates.

Brokered CDs

With a brokered CD, an investor will purchase it for you through a brokerage firm rather than a bank or credit union. These CDs can offer higher rates or a wider selection of terms than what’s typically available at a local bank.

Promotional CDs

Often referred to as a bonus or special-rate CD, promotional CDs generally comes with a higher-than-normal APY for a limited time. Banks and credit unions offer promotional CDs to attract new customers and deposits, which is good to know if you are looking to start a new account.

Pros To Opening a CD

  • Guaranteed earnings: Your earnings on a CD are guaranteed, so you know exactly what you’re getting.
  • Encourages saving discipline: With a CD, it’s harder to dip into your savings on a whim, helping you save more effectively.
  • FDIC or NCUA insured: Your CD investment at an insured bank or credit union is protected up to $250,000, offering you a sense of security.
  • No monthly fees: CDs generally come without monthly maintenance fees, unlike some bank accounts or checking accounts .

Cons To Opening a CD

  • Early withdrawal penalties: Withdrawing your money before the term ends means facing penalties.
  • Lower returns compared to other investments: The return on a CD might be lower than what you could earn through other investments like stocks or real estate.
  • Automatic renewal risk: Automatic renewal features may lock you into a new CD term if you’re not attentive at the end of your current term.
  • Minimum deposit requirements: Opening a CD at a bank may require a minimum deposit, posing a challenge for individuals with modest sums.

Final Take: Are CD Accounts Worth It?

If you are looking to tuck away a lump sum of money for a large purchase or future investment, a CD is a low-risk way to do just that. However, if you are looking to make more money faster, a CD may not be the right fit for you. If you’re not sure which money move to make next, you should assess your risk tolerance and consult with a financial advisor to make the most informed decision.

CD Rates FAQ

Here are the answers to some of the most frequently asked questions regarding CD accounts and the top CD rates today:
  • What is the highest paying CD rate right now?
    • As of June 6, 2025, Community Bank & Trust is offering the best CD rate at 4.71% for its 3-month CD.
  • What should you consider when choosing a CD?
    • When selecting a CD, consider factors like the following:
      • Term length
      • Interest rate
      • Minimum deposit requirements
      • Penalties for early withdrawal
    • CDs are a safer investment, but be aware that you can't access your funds until the CD has reached maturity; otherwise, you could incur early withdrawal penalties.
  • Can you lose money on a CD?
    • Generally, CDs are considered a low-risk investment, and it's unlikely you'll lose your principal as long as you choose CDs from FDIC-insured banks or NCUA-insured credit unions. However, withdrawing funds before the maturity date can result in penalties that might reduce your earnings.

Compare CD Rates

  • Best 3-Month CD Rates
  • Best 6-Month CD Rates
  • Best 1-Year CD Rates
  • Best 5-Year CD Rates
  • Best No-Penalty CD Rates
  • Best Jumbo CD Rates
  • Best No-Penalty CD Rates
  • Best CDs With No Minimum Deposit Requirement
  • Best CD Accounts

Elizabeth Constantineau contributed to the reporting for this article.

Methodology: Single Sparkleanalyzes deposit rates from banks and credit unions with nationwide availability. The best rates are identified from this group by focusing on annual percentage yield. Institutions listed in the daily chart are insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of June 6, 2025.

This article originally appeared on Single Sparkle : Top CD Rates Today: June 6, 2025 — Earn Up To 4.71% APY

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