Best CDs in July 2025: Lock in 6.00% APY or Secure 5%+ Rates for Multiple Years

Highlights You Should Know

• Nuvision Credit Union offers a standout 6.00% APY on a 10-month CD, valid until July 31, with a $5,000 deposit cap.
• TotalBank provides competitive 5.51% APY CDs for 3 or 6 months, requiring a $25,000 minimum deposit.
• With an anticipated Federal Reserve rate cut in September, locking in solid CD rates above 5% for several years is a smart move.
• DR Bank offers a 5.25% APY CD through most of 2025, while USAlliance Financial guarantees 5.10% APY up to 2026.
• Longer-term CDs of 3 to 4 years frequently yield 4.50% APY or higher across various institutions.

Below are featured rates from our partners and a nationwide ranking of top CDs for savvy savers.

Nuvision Credit Union's 6.00% APY CD—Expires July 31

Take advantage of Nuvision Credit Union’s exceptional 6.00% APY on a 10-month CD before the offer ends on July 31. Although the deposit limit is $5,000, this short-term CD provides an unmatched yield in today’s market. Extensions of this offer are unlikely due to the expected Federal Reserve rate cut in September. Consider larger deposits in longer-term CDs if you seek higher principal investments.

TotalBank, recently rebranded from TotalDirectBank, holds the next best rate at 5.51% APY for 3 or 6 months but requires a minimum deposit of $25,000.

Short-term CDs dominate top rates nationwide. DR Bank’s 15-month CD offers 5.25% APY with just a $500 minimum deposit. Over 17 other institutions provide 5%+ APYs for terms between 15 and 23 months. For 2-year CDs, USAlliance Financial leads at 5.10%, followed by Credit Human at 5.05% and West Town Bank & Trust at 5.00%.

Secure Long-Term Rates Before an Expected Rate Decline

CDs with terms beyond two years can still earn up to 5.00% APY, with Vibrant Credit Union offering a 30-month CD at this rate requiring just a $5 minimum deposit, and DollarSavingsDirect providing a 36-month CD at 5.00% APY with a $1,000 minimum. Many other 3-year CDs yield in the high 4% range.

Given the prospect of Federal Reserve rate cuts later this year and beyond, locking in a solid long-term CD rate now can secure strong returns regardless of future rate drops. As benchmark rates fall, so do CD yields, so early commitment is prudent.

BMO Alto leads 4-year CDs at 4.70% APY with no minimum deposit, while both BMO and Grow Financial offer 5-year CDs at 4.75% APY, ensuring competitive returns through 2029.

Unexpected Leader in 4- and 5-Year CD Rates

While smaller banks and credit unions typically offer the best CD rates, BMO Alto, the online branch of the major banking institution BMO, now tops 4- and 5-year CD rates nationally.

CD Rates Near 20-Year Highs

Though not at their peak, CD rates remain historically strong. The highest promotional rate was 6.50% in October. Currently, multiple institutions offer CDs paying 5.50% or more, with 16 CDs above 5.35% APY excluding jumbo CDs. The longest term at or above 5% APY is 36 months from DollarSavingsDirect.

Minimum deposit requirements vary but are generally accessible. Examples include DR Bank’s 6-month CD at $500 minimum, Nuvision’s 10-month promo at $1,000, Vibrant CU’s 30-month CD at $5, and BMO Alto’s CDs with no minimum deposit.

5-Year Jumbo CDs Leading the Pack

Jumbo CDs, requiring larger deposits, generally don’t offer the best rates except for 5-year terms. Grow Financial Federal Credit Union offers an impressive 4.86% APY on a 60-month jumbo CD with a minimum $100,000 deposit, surpassing standard 5-year CDs by 0.11 percentage points.

Outlook for CD Rates in 2024

Market consensus suggests the Federal Reserve will maintain current rates through July, but a rate cut is widely expected in September. Additional cuts may follow in November and December as inflation pressures ease.

Recent inflation data supports this outlook, with the Personal Consumption Expenditures index showing a decline in inflation growth. The Fed raised rates 11 times from March 2022 to July 2023, reaching a 22-year high, which has driven attractive yields in deposit accounts such as CDs and high-yield savings.

While the Fed has paused rate hikes since July 2023, ongoing improvements in inflation suggest rate reductions are imminent. This makes securing high CD rates today essential before declines begin.

Fed officials remain cautious, awaiting further data before making rate changes. However, confidence in a September cut is growing, signaling the best time to lock in favorable CD rates is now.

Daily Updated Rankings for CDs and Savings Accounts

Our rankings refresh every business day to present the top deposit rates across all major terms, including:

• 3-Month CDs
• 6-Month CDs
• 1-Year CDs
• 18-Month CDs
• 2-Year CDs
• 3-Year CDs
• 4-Year CDs
• 5-Year CDs
• High-Yield Savings Accounts
• Money Market Accounts

Important Note

Rates highlighted here represent the highest nationally available yields identified by ZAMONA through daily research on hundreds of banks and credit unions. These top rates are significantly higher than national averages, which include many institutions offering minimal interest.

How We Source the Best CD Rates

ZAMONA actively tracks over 200 federally insured banks and credit unions nationwide, analyzing CD offerings daily by term. To qualify, institutions must be FDIC or NCUA insured, offer deposits under $25,000 minimum, and have maximum deposits of at least $5,000. Banks must operate in at least 40 states, and credit unions with high membership donation requirements (above $40) are excluded. Learn more about our methodology on our website.

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