From Yahoo Finance: 2025-06-21 06:00:00

Lock in a high CD rate before further cuts from the Federal Reserve in 2024. Rates vary, so shop around. Shorter terms offer the best rates, especially from online banks and credit unions. Western Alliance Bank offers the highest CD rate of 4.4% APY on a 3-month CD with a $1 minimum deposit.

CD interest depends on APY and compounding frequency. A one-year CD at 1.81% APY with monthly compounding earns $18.25 in interest on a $1,000 deposit. A 4% APY one-year CD would earn $40.74 in interest on the same deposit. Depositing more leads to higher earnings.

Consider different types of CDs beyond traditional ones. Bump-up CDs allow for a rate increase once, while no-penalty CDs offer flexibility to withdraw funds early. Jumbo CDs require a higher minimum deposit for potentially higher rates. Brokered CDs, purchased through a brokerage, can offer higher rates but come with more risk and may not be FDIC-insured.



Read more at Yahoo Finance: Best CD rates today, June 21, 2025 (best account provides 4.4% APY)