Now's the Time to Lock In 9.5% APY CD and 9 Other Top Rates for July 2025

Understanding CD Rates and How to Choose the Best Options in July 2025

In recent months, certificate of deposit (CD) rates have seen a slight decline, with the average national deposit rates ranging from 0.23% to 1.62%. However, despite this downward trend, some banks and credit unions are still offering attractive fixed returns, with certain accounts promising APYs above 4.5%, and one even maintaining a promotional rate of 9.5% APY for select balances. While these rates may seem high now, market indicators suggest that they could decrease further in the coming months.

Experts like Chip Lupo, a writer and analyst at WalletHub, believe that CD rates are currently still favorable but may not remain at their peak. “If the Fed continues cutting rates as expected, CD yields will decrease quickly,” he explains. “Now is a good time to lock in a solid rate if you're considering opening a CD account.”

Tips for Finding the Best CD APY in July 2025

To find the best CD rates, it's essential to do thorough research and compare options. Stephen Kates, a certified financial planner and financial analyst at Bankrate, advises consumers to always comparison shop. “Look for the best mix of features and benefits along with a competitive rate,” he says.

Another key factor in finding the best rates is the type of institution offering them. Sam Taube, a lead investing writer at NerdWallet, notes that many of the highest-yielding CDs are offered by online-only financial institutions. “If you want to open a CD with a bank you already have an account with or prefer to visit a physical branch, you may end up with a lower rate,” he adds.

Additionally, qualifying for higher rates often requires meeting specific criteria. For example, locking in a rate above 4.5% typically involves having a high minimum opening balance, meeting membership requirements, or limiting eligible assets. Auto-renew features on long-dated CDs can also be both convenient and risky if not planned for carefully.

Top CDs with the Highest APYs in July 2025

Below are some of the top CD options available this month, all of which are protected by either the Federal Deposit Insurance Corp. or the National Credit Union Administration:

California Coast Credit Union

• APY: Up to 9.50%
• This account offers a 5-month term with an industry-leading 9.50% APY. However, it comes with restrictions such as a $3,000 maximum deposit limit and membership requirements based on location in California.

Financial Partners Credit Union

• APY: Up to 6.00%
• A 8-month CD with a $1,000 minimum deposit and eligibility for members in specific areas of California.

Geismar Complex Federal Credit Union

• APY: Up to 5.90% and 5.12%
• Two different terms offer competitive rates with low minimum deposits, though membership is required for those who work at eligible companies or have family members who are already members.

Ocean Bank

• APY: Up to 4.80%
• Offers 6- and 8-month terms with a $2,500 minimum deposit and no monthly fees.

5Point Credit Union

• APY: Up to 4.76%
• Requires a $99,000 minimum deposit and membership through specific locations in Texas.

Merchants Bank of Indiana

• APY: Up to 4.60%
• A flexible 12-month CD with a $1,000 minimum deposit and potential for rate changes based on market conditions.

Civic Federal Credit Union

• APY: Up to 4.60%
• A low $250 minimum deposit for accounts with maturity dates between 25 and 36 months, but only available to members of local government in North Carolina.

Justice Federal Credit Union

• APY: Up to 4.60%
• A jumbo account requiring a minimum of $100,000 and membership tied to specific organizations.

Most Accessible CD Rates in July 2025

For those looking for more accessible options, here are some CDs with higher APYs and lower barriers to entry:

Providence Bank

• APY: Up to 4.60%
• A 4-month CD with a $1,000 minimum deposit and online access available nationwide.

T Bank

• APY: Up to 4.55%
• A 12-month CD with a $500 minimum deposit, but only available for online deposits.

Newburg Bank

• APY: Up to 4.52%
• An 18-month variable-rate CD with a $500 minimum deposit and no membership restrictions.

Ponce Bank Direct

• APY: Up to 4.50%
• A 3-month CD with a $500 minimum deposit, ideal for short-term savings.

SouthEast Bank

• APY: Up to 4.50%
• A 6-month CD with a $1,000 minimum deposit and online access available.