National CD Rates Reach New Heights: Newtek Bank Leads with 4.60% APY for 9-Month Term

Newtek Bank is offering a 9-month CD with a 4.60% APY, while Rising Bank offers a 6-month guarantee of 4.51% APY. 13 other CDs lock in 4.50% APY, including 3-month and 21-month options. Longer rate guarantees are available for 4.28%, with Lafayette Federal Credit Union offering 3-5 year CDs with that APY.

As of June 19, 2025, investors are finding competitive annual percentage yields (APYs) on certificates of deposit (CDs). The Federal Reserve's recent meeting, where interest rates were held steady, has provided a window of opportunity for savers to secure high-yield CDs before potential rate cuts later in the year.

Highlighting the Best CD Rates

Newtek Bank stands out with a 9-month CD offering an APY of 4.60%. Rising Bank offers a 6-month CD with an APY of 4.51%. Meanwhile, 13 other CDs lock in an APY of 4.50%, including 3-month and 21-month options. For those looking for longer-term guarantees, Lafayette Federal Credit Union provides 3-5 year CDs with an APY of 4.28%.

Why Lock in a CD Now?

With the possibility of interest rate cuts on the horizon, securing a CD now can provide a sense of financial security. Current APYs are among the highest seen in recent years. CDs are FDIC-insured up to $250,000 per depositor, per bank, making them a low-risk option for those prioritizing stability.

How to Open a CD

Opening a CD is straightforward and can be done online or in person. Steps include comparing rates and terms, deciding on the deposit amount, opening the account with necessary personal information, funding the CD, and noting the maturity date. It's essential to plan the deposit amount wisely, as early withdrawals typically come with penalties.

Comparing CDs and High-Yield Savings Accounts

For those seeking flexibility, high-yield savings accounts (HYSAs) offer a similar APY without the time commitment. For example, SoFi Checking and Savings offers up to 3.80% APY on savings with direct deposits, providing a competitive alternative to CDs.

Conclusion

The current landscape of CD rates offers attractive opportunities for savers. Locking in a high-yield CD now can provide a stable return on investment while the Federal Reserve maintains interest rates. However, it's crucial to weigh the benefits of CDs against the flexibility offered by HYSAs to determine the best fit for your financial goals.

References

[1] https://www.fool.com/money/banks/articles/top-cd-rates-today-june-23-2025/