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American Focus > Blog > Economy > Best CD rates today, June 15, 2025 (lock in up to 5.5% APY)
Economy

Best CD rates today, June 15, 2025 (lock in up to 5.5% APY)

Last updated: June 15, 2025 4:45 am
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Best CD rates today, June 15, 2025 (lock in up to 5.5% APY)
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If you’re looking to maximize your savings, a certificate of deposit (CD) can be a great option. By locking in a high CD rate, you can watch your balance grow over time. However, with rates varying widely across financial institutions, it’s essential to shop around to ensure you’re getting the best deal.

Historically, longer-term CDs used to offer higher interest rates than shorter-term CDs. This was to encourage savers to keep their money deposited for longer periods. However, in today’s economic climate, the opposite is true.

Currently, the highest CD rate available is 5.5% APY on a 5-year CD from Gainbridge, with a minimum opening deposit of $1000. To help you find the best CD rates, here are some of the top offers from our verified partners:

The amount of interest you can earn from a CD depends on the annual percentage rate (APY). This is a measure of your total earnings after one year, factoring in the base interest rate and how often interest compounds (usually daily or monthly).

For example, if you invest $1,000 in a one-year CD with 1.81% APY and monthly compounding, your balance would grow to $1,018.25 at the end of the year. Choosing a one-year CD with 4% APY instead would increase your balance to $1,040.74, including $40.74 in interest.

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

When selecting a CD, the interest rate is crucial, but it’s not the only factor to consider. There are different types of CDs that offer various benefits, even if it means accepting a slightly lower interest rate for more flexibility. Some common types of CDs include:

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– Bump-up CD: Allows you to request a higher interest rate if your bank’s rates increase, usually limited to one “bump-up.”
– No-penalty CD: Also known as a liquid CD, this type allows you to withdraw funds before maturity without penalties.
– Jumbo CD: Requires a higher minimum deposit (typically $100,000 or more) and may offer higher interest rates, although the difference in rates between traditional and jumbo CDs may be minimal.
– Brokered CD: Purchased through a brokerage rather than directly from a bank, these CDs can offer higher rates or more flexible terms but carry more risk and may not be FDIC-insured.

When considering a CD, it’s essential to weigh the interest rate against other factors like flexibility and minimum deposit requirements to find the best option for your financial goals.

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