From Yahoo Finance: 2025-06-09 06:00:00

Today’s CD rates remain well above the national average, with the Federal Reserve cutting interest rates three times in 2024. Now may be the last chance to secure these high rates with a certificate of deposit (CD). Marcus by Goldman Sachs offers the highest rate at 4.2% APY on a 9-month CD.

Online banks and credit unions typically offer more competitive CD rates compared to traditional banks. The national average interest rate for a 1-year CD is 1.77%. It’s crucial to choose a high APY and appropriate term length when opening a CD to match your financial goals.

When opening a CD, compare rates across different institutions, especially with online banks known for competitive rates. Be aware of minimum deposit requirements and review terms for early withdrawal penalties and auto-renewal policies. Consider options like no-penalty CDs for added flexibility in managing your funds.

Read more: Best CD rates today, June 9, 2025 (Lock in up to 4.2% APY)