From Yahoo Finance: 2025-06-16 06:00:00

Today’s CD rates remain above the national average after the Federal Reserve cut interest rates in 2024. Consider locking in high rates with a CD now. The top rate is 4.4% APY on a 3-month CD from Western Alliance Bank with a $1 minimum deposit. Online banks and credit unions often offer better rates than traditional banks.

The national average interest rate for CDs is 1.77% for a 1-year term, some of the highest in nearly two decades. The Federal Reserve’s efforts to combat inflation have kept rates elevated. When opening a CD, choose one with a high APY and suitable term length for your financial goals.

To find the best CD rates, shop around and compare offerings from different financial institutions. Online banks typically offer competitive rates due to lower overhead costs. Be aware of minimum deposit requirements and review account terms for early withdrawal penalties and auto-renewal policies, considering options like no-penalty CDs for flexibility.

Read more: Best CD rates today, June 16, 2025 (Lock in up to 4.4% APY)