Top CD Rates Today: Earn 5.5% APY with Gainbridge

The highest CD rate today is 5.5% APY offered by Gainbridge on its 5-year CD, with a $1000 minimum opening deposit required. Online banks and credit unions offer the top CD rates, with shorter terms of around one year or less yielding the best rates. The amount of interest earned depends on the APY and the principal deposited. Different types of CDs, such as bump-up and no-penalty CDs, offer varying benefits but may have slightly lower interest rates.

Title: Top CD Rates for June 2025: High-Yield Options and How to Secure Them

As of June 14, 2025, the highest certificate of deposit (CD) rate available is 5.5% annual percentage yield (APY), offered by Gainbridge on its five-year CD. This rate requires a $1000 minimum opening deposit. Online banks and credit unions continue to lead the market in offering competitive CD rates, particularly for shorter terms of one year or less. This article provides an overview of the current CD landscape, including the best rates and strategies for securing them.

Current CD Landscape

The Federal Reserve's decision to cut its benchmark rate three times in late 2024 has led to a decline in CD rates. However, some institutions are still offering competitive rates. For instance, Gainbridge offers a 5.5% APY on a five-year CD, which is among the highest rates currently available. Online banks and neobanks often provide the best CD rates due to their lower overhead costs, allowing them to pass savings on to customers in the form of higher interest rates [1].

Strategies for Securing High CD Rates

1. Shop Around: Comparing rates from different financial institutions is crucial. While national averages are lower, shopping around can help you find the best rates. Online banks and credit unions often offer the highest yields.

2. Consider Online Banks and Credit Unions: Online banks and neobanks typically offer more competitive CD rates than traditional brick-and-mortar banks. Credit unions, as not-for-profit financial cooperatives, also return profits to their members.

3. Choose the Right Term: Shorter terms of one year or less often yield the best rates. However, longer terms can offer higher rates if you are willing to lock up your money for a longer period.

4. Understand Different Types of CDs: Various types of CDs cater to different financial needs. For example, bump-up CDs allow you to request a higher APY if interest rates increase, while no-penalty CDs do not charge penalties for early withdrawals.

How to Get a Good CD Rate

Determining what qualifies as a "good" CD rate involves balancing high rates with your need to lock up money for a long period. Key factors to evaluate include term length, APY, minimum deposit, penalties, and deposit insurance [2].

Conclusion

Securing the best CD rates requires a proactive approach. By shopping around, considering online banks and credit unions, and understanding the different types of CDs, investors can maximize their returns. As the CD market continues to evolve, staying informed about the latest rates and strategies will be key to making the most of your savings.

References

[1] https://fortune.com/article/cd-rates-6-12-25/
[2] https://finance.yahoo.com/personal-finance/banking/article/best-cd-rates-today-friday-june-13-2025-100043716.html