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American Focus > Blog > Economy > Best CD rates today, June 1, 2025 (lock in up to 4.25% APY)
Economy

Best CD rates today, June 1, 2025 (lock in up to 4.25% APY)

Last updated: June 1, 2025 7:28 pm
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Best CD rates today, June 1, 2025 (lock in up to 4.25% APY)
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When it comes to growing your savings, locking in a high CD rate can be a smart move. A certificate of deposit (CD) allows you to earn a competitive rate on your savings while keeping your balance secure. However, with rates varying widely across financial institutions, it’s essential to shop around for the best offer.

Historically, longer-term CDs used to offer higher interest rates compared to shorter-term CDs. This was done by banks to encourage savers to keep their money on deposit for a longer period. However, in today’s economic climate, the opposite is true.

Currently, the highest CD rate available is 4.25% APY, offered by Langley Federal Credit Union on its 10-month CD. To open this CD, a minimum deposit of $500 is required. If you’re looking for the best CD rates available today, it’s crucial to explore offers from verified partners.

The amount of interest you can earn from a CD depends on the annual percentage rate (APY). This metric takes into account the base interest rate and how often interest compounds. For example, investing $1,000 in a one-year CD with 1.81% APY, where interest compounds monthly, would result in a balance of $1,018.25 at the end of the year, including $18.25 in interest.

Choosing a higher APY can significantly impact your earnings. Opting for a one-year CD with 4% APY, for instance, would grow your balance to $1,040.74 over the same period, with $40.74 in interest.

The more you deposit in a CD, the more you stand to earn. For instance, with a $10,000 deposit in a one-year CD at 4% APY, your total balance when the CD matures would be $10,407.42, earning you $407.42 in interest.

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When selecting a CD, it’s crucial to consider factors beyond just the interest rate. Various types of CDs offer different benefits, such as bump-up CDs, no-penalty CDs, jumbo CDs, and brokered CDs. Each type has its own advantages and trade-offs, so it’s essential to choose the one that aligns with your financial goals.

In conclusion, locking in a high CD rate can help your savings grow steadily over time. By exploring different CD offers and considering the various types available, you can make an informed decision that suits your financial needs.

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