Best CDs in June 2025: Secure Up to 6.00% APY for 10 Months Today

Highlights for June 6, 2024

• Nuvision Credit Union leads with an impressive 6.00% APY on a 10-month CD—the highest nationwide rate for the third consecutive day.
• TotalDirectBank offers a strong 5.51% APY on 3- and 6-month CDs, ideal for shorter commitments.
• Longer-term options include Credit Human’s 2-year CD at 5.25% APY, locking rates until 2026, and three institutions offering 5.00% APY on 3-year CDs.
• For extended rate security through 2029, BMO Alto's 5-year CD delivers a competitive 4.80% APY.
• Although slightly below last fall’s record highs, today’s rates remain near historic peaks amid Fed rate stability.

Below, explore featured partner rates and a comprehensive ranking of the best nationwide CDs for savvy savers.

Lock in 5.40% to 6.00% APY on 3 to 12 Month CDs

Nuvision Credit Union has raised the bar with its 10-month CD offering a standout 6.00% APY—the first nationwide CD to hit 6% since November. This promotional rate applies to deposits up to $5,000.

Close behind, TotalDirectBank provides a 5.51% APY on both 3- and 6-month terms, though it requires a minimum deposit of $25,000.

For smaller depositors, four institutions offer 5.50% APY with minimum deposits ranging from $5 to $2,500. Overall, twelve CDs pay at least 5.40% APY, including NexBank’s 12-month CD at 5.40%, allowing you to secure attractive rates through 2025.

Longer-Term CDs Guarantee Rates Until 2025 and Beyond

Locking in longer terms is strategic given the possibility of declining U.S. interest rates over the next few years. Credit Human’s flexible 18- to 23-month CD at 5.25% APY can secure your rate until spring 2026.

Additionally, 3-year CDs offering at least 5.00% APY extend your guaranteed return through 2027, while 4- and 5-year CDs maintain competitive yields in the high 4% range for even longer periods.

Major U.S. Bank Offers Leading 5-Year CD Rate

While smaller banks and credit unions often lead in CD rates, BMO Alto, the online branch of the large U.S. bank BMO, currently offers the top 5-year CD rate at 4.80% APY. Besides 5-year terms, BMO Alto provides competitive rates on CDs from 6 months to 4 years.

CD Rates Remain Near Two-Decade Highs

Since peaking at 6.50% APY in October 2023, CD rates have slightly softened, with seven CDs now paying at least 5.50% APY, down from 30 earlier this year. Despite this, CD yields in the 4% to 5% range still represent excellent earning opportunities compared to the past 20 years.

Locking in long-term rates now can be a wise move, as rates may decline if the Fed decides to cut rates later in 2024 or 2025.

Competitive CD Rates at Major Banks

While many large banks offer low CD rates, a select few among the top 30 U.S. banks provide competitive yields. Review ZAMONA’s curated list of the best big-bank CDs to find options that outperform standard offerings.

Jumbo CDs Provide Enhanced Returns on Select Terms

Two jumbo CDs stand out with higher yields than comparable standard CDs: State Department Federal Credit Union offers 5.41% APY for 15 months, and Grow Financial Federal Credit Union recently introduced a 5-year jumbo CD at 4.86% APY.

Note that jumbo CDs don’t always guarantee better rates than standard CDs, so compare both types carefully before committing.

Outlook for CD Rates in 2024

To combat rising inflation, the Federal Reserve increased interest rates aggressively from March 2022 to July 2023, reaching the highest levels in 22 years. This drove CD rates to historic highs last fall, benefiting savers nationwide.

Since July 2023, the Fed has held rates steady amid cooling inflation. The May 1, 2024, Federal Open Market Committee meeting marked the sixth consecutive pause in rate hikes, with officials adopting a wait-and-see approach as inflation progress slows.

Fed Chair Jerome Powell noted that inflation progress has stalled, delaying confidence to cut rates. Several Fed officials predict inflation easing will extend into 2025, making near-term rate cuts unlikely.

According to CME Group’s FedWatch Tool, over 60% of traders anticipate the first rate cut in September 2024, but uncertainty remains high.

Recent inflation data showed stable Personal Consumption Expenditures (PCE) at 2.7%, aligning with forecasts and signaling no immediate upward pressure.

Consequently, CD rates are expected to hold steady in the coming months until the Fed signals a rate cut, which will then likely drive yields lower.

The Fed will hold five more rate decisions in 2024, with the next meeting concluding on June 12.

Daily Rankings of Top CDs and Savings Accounts

Discover the best CD rates by term: 3-month, 6-month, 1-year, 18-month, 2-year, 3-year, 4-year, and 5-year CDs. Also explore top high-yield savings and money market accounts updated daily.

Important Information

ZAMONA’s "top rates" represent the highest federally insured CD rates available nationwide, sourced from extensive daily research of hundreds of banks and credit unions. These differ significantly from national averages, which include many low-rate large banks. Shopping around can yield rates 5 to 15 times higher than averages.

How ZAMONA Finds the Best CD Rates

Each business day, ZAMONA analyzes rate data from over 200 FDIC- or NCUA-insured banks and credit unions nationwide, evaluating CDs with minimum initial deposits up to $25,000. Eligible institutions must serve at least 40 states. Credit unions requiring donations over $40 for membership are excluded to ensure accessibility. For full details, see our methodology.

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