Best CD Rates Today, July 11, 2025

Overview of Current CD Rates

As of July 11, 2025, the highest CD rate available is 5.5% APY, offered by Gainbridge® on a 5-year term with a minimum deposit requirement of $1,000. This rate significantly outpaces the national average for CDs, which was reported at 1.72% APY for a 5-year term in June 2025, according to FDIC data. The disparity highlights the importance of shopping around for high-yield CDs to maximize returns. High-yield CDs, particularly those offered by online banks and specialized financial institutions, can deliver returns several times greater than the national average. These accounts are ideal for savers seeking a secure, fixed return over a specified term.

CDs remain a reliable option for those looking to safeguard their funds with federal deposit insurance, while benefiting from rates that often exceed those of traditional savings accounts.

Where to Find the Best CD Rates

Online banks are a leading source of competitive CD rates. These institutions operate exclusively online, allowing them to reduce overhead costs and pass those savings to customers through higher APYs and lower fees. Their streamlined operations often make them the go-to choice for high-yield CDs.

Credit unions also offer attractive CD rates. As not-for-profit entities, credit unions return their profits to members in the form of reduced fees and higher interest rates. However, access may be limited to individuals meeting specific membership criteria, such as employment in a particular industry or residency in a certain area. Both options can be excellent resources for securing top-tier CD rates, but they require due diligence to compare terms, rates, and conditions.

Considerations Before Opening a CD

While CDs offer stable returns, they require locking in funds for the term of the account, with penalties typically imposed for early withdrawal. This feature makes them less suitable for those who may need immediate access to their savings. For savers prioritizing liquidity, high-yield savings accounts or money market accounts may be better alternatives, as they provide competitive rates without tying up funds.

Additionally, CDs generally lack the growth potential of market-based investments, making them less ideal for long-term goals like retirement. Savers should evaluate their financial objectives and timelines before committing to a CD. Understanding the trade-offs between guaranteed returns and flexibility is crucial in determining whether a CD aligns with your overall financial strategy.