21 best CDs to open for June 2024 (up to 5.30%)

If you want to save money for the future, but don’t want to lose buying power to persistent inflation, a certificate of deposit (CD) may be able to help. These accounts typically offer stronger returns than savings accounts in exchange for a willingness to lock your money up for the CDs entire term. While you may be penalized if you access the money in your CD early, opening one of these accounts doesn’t mean you have to say goodbye to the liquidity of your savings for years to come. 

There are short-term and long-term CDs to choose from. In fact, some popular options only require a three-month savings commitment – making them strong options for housing your money for your short-term savings goals. 

But, regardless of the term of the account you open, you’ll want to make sure that you earn the highest return possible. And, the financial institutions that offer CDs often use returns as an opportunity to compete for your business. Some will offer better returns than others. So, what are some of the top-paying CDs on the market today? Check out our list for June 2024 below.

Compare the top CDs on the market now. 

21 best CDs to open for June 2024 (up to 5.30%)

A CD can help your savings produce stronger returns. But, it’s important to choose an account with a competitive APY. Here are leading CD options based on varying maturities: 

3-month CD accounts

• Popular Direct – 5.30% APY: This CD comes with a $10,000 minimum opening deposit. The early withdrawal fee for this account is equal to 89 days of simple interest.
• America First Credit Union – 5.25% APY: This CD comes with a $500 minimum opening deposit. The early withdrawal fee for this account is equal to 60 days of simple interest with a $5 minimum. 
• First Internet Bank of Indiana – 4.14% APY: This CD comes with a $1,000 minimum opening deposit. The early withdrawal fee for this account is equal to 90 days of simple interest.

Open a CD now before rates like this slip by. 

6-month CD accounts

• Popular Direct – 5.30% APY: This CD comes with a $10,000 minimum opening deposit. The early withdrawal fee for this account is equal to 120 days of simple interest. 
• America First Credit Union – 5.25% APY: This CD comes with a $500 minimum opening deposit. The early withdrawal fee for this account is equal to 60 days of simple interest with a $5 minimum. 
• BMO Alto – 5.15% APY: This CD doesn’t have a minimum opening deposit. The early withdrawal fee for this account is equal to 90 days of simple interest. 

1-year CD accounts

• First Internet Bank of Indiana – 5.26% APY: This CD comes with a $1,000 minimum opening deposit. The early withdrawal fee for this account is equal to 180 days of simple interest.
• America First Credit Union – 5.25% APY: This CD comes with a $500 minimum opening deposit. The early withdrawal fee for this account is equal to 60 days of simple interest with a $5 minimum. 
• Popular Direct – 5.15% APY: This CD comes with a $10,000 minimum opening deposit. The early withdrawal fee for this account is equal to 120 days of simple interest. 

18-month CD accounts

• Lending Club – 5.00% APY: This CD comes with a $2,500 minimum opening deposit. The early withdrawal fee for this account is equal to 180 days of simple interest.
• First Internet Bank of Indiana – 4.98% APY: This CD comes with a $1,000 minimum opening deposit. The early withdrawal fee for this account is equal to 180 days of simple interest.
• Popular Direct – 4.80% APY: This CD comes with a $10,000 minimum opening deposit. The early withdrawal fee for this account is equal to 270 days of simple interest. 

2-year CD accounts

• First Internet Bank of Indiana – 4.76% APY: This CD comes with a $1,000 minimum opening deposit. The early withdrawal fee for this account is equal to 360 days of simple interest.
• Popular Direct – 4.70% APY: This CD comes with a $10,000 minimum opening deposit. The early withdrawal fee for this account is equal to 270 days of simple interest. 
• BMO Alto – 4.65% APY: This CD doesn’t have a minimum opening deposit. The early withdrawal fee for this account is equal to 270 days of simple interest.

3-year CD accounts

• First Internet Bank of Indiana – 4.61% APY: This CD comes with a $1,000 minimum opening deposit. The early withdrawal fee for this account is equal to 360 days of simple interest.
• BMO Alto – 4.60% APY: This CD doesn’t have a minimum opening deposit. The early withdrawal fee for this account is equal to 365 days of simple interest.
• Popular Direct – 4.55% APY: This CD comes with a $10,000 minimum opening deposit. The early withdrawal fee for this account is equal to 270 days of simple interest. 

5-year CD accounts

• BMO Alto – 4.80% APY: This CD doesn’t have a minimum opening deposit. The early withdrawal fee for this account is equal to 545 days of simple interest.
• First Internet Bank of Indiana – 4.50% APY: This CD comes with a $1,000 minimum opening deposit. The early withdrawal fee for this account is equal to 360 days of simple interest.
• Schoolsfirst Federal Credit Union – 4.35% APY: This CD comes with a $500 minimum opening deposit. The early withdrawal fee for this account is equal to seven days worth of interest if the withdrawal is made within six calendar days of opening the account. Following the first six calendar days, early withdrawal penalties will be charged at a flat rate of $10. That $10 fee will be waived if you use the money in your account to purchase a home.

Earn more on your savings with a CD today.

The bottom line

There are a wide range of CDs to choose from. As you choose which is best for you, consider the term, APY, minimum deposit and early withdrawal penalty and how these factors might fit in with your overall financial picture. Compare today’s leading CD accounts now.