Best CD Rates for June 2024

Find the highest CD rates available today in our guide.

Image of a dollar bill turning into an upwards arrow signifying savings rates.
(Image credit: Getty Images)

Since last year, savings rates on high yield savings accounts and CDs have been continually rising, with rates on many top-earning accounts offering APYs of over 4% and 5%. Typically, long-term CDs offer higher rates than short-term CDs, but the market is currently experiencing what is known as an “inverted yield curve,” meaning you’ll earn more from a 1-year CD compared to a 5-year CD

This is great news; you can now invest your cash in a CD with a high rate of return, without having to keep it locked up for an overly long period of time. Rates on long-term CDs are still high though, so if you are looking for a longer-term investment option, you’ll be able to score rates of over 4%. And rates could even go up further. 

Erin Bendig
Personal Finance Writer

Erin pairs personal experience with research and is passionate about sharing personal finance advice with others. Previously, she was a freelancer focusing on the credit card side of finance, but has branched out since then to cover other aspects of personal finance. Erin is well-versed in traditional media with reporting, interviewing and research, as well as using graphic design and video and audio storytelling to share with her readers.