See which banks currently pay the highest CD rates. If you’re looking for a safe place to keep your savings, a certificate of deposit (CD) can be a great option. These accounts typically offer higher interest rates than traditional checking and savings accounts. However, CD rates can vary widely. Learn more about CD rates today and where to find high-yield CDs at the best rates available.
Current CD rates vary quite a bit. Overall, however, CD rates have been declining for quite some time due to the Federal Reserve’s decision to cut its benchmark rate three times in the latter part of 2024 and its three additional cuts in 2025. Even so, some banks still offer competitive CD rates.
For those that are, top rates reach approximately 4% APY. This is especially true for shorter terms, one year or less.
Today, the highest CD rate is 4% APY. This rate is offered by Marcus by Goldman Sachs on their 1-year CD.
Below are some of the best CD rates available today from our verified partners:
Compare these rates to the national average as of January 2026 (the most recent data available from the FDIC):
Compared to today’s highest CD rates, national averages are much lower. This highlights the importance of shopping around for the best CD rates before opening an account.
Online banks and neobanks are financial institutions that operate solely through the web. That means they have lower overhead costs than traditional banks. As a result, they can pass those savings on to their customers in the form of higher interest rates on deposit accounts (including CDs) and lower fees. If you’re looking for the best CD rates available today, an online bank is a great place to start.
However, online banks are not the only financial institutions that offer competitive CD rates. It’s also worth checking with credit unions. As nonprofit financial cooperatives, credit unions return their profits to customers, who are also member-owners. Although many credit unions have strict membership requirements that are limited to those who belong to certain associations or work or live in certain areas, there are also several credit unions that almost anyone can join.
Whether or not you should put your money in a CD depends on your savings goals. CDs are considered a safe, stable savings vehicle: they don’t lose money (in most cases), are backed by federal insurance, and allow you to lock in today’s best rates.
However, there are some drawbacks to consider. First, you must keep your money on deposit for the entire term; Otherwise, you will be subject to an early withdrawal penalty. If you want flexible access to your funds, a high-yield savings account or money market account might be a better option.
Additionally, while current CD rates are high by historical standards, they don’t match the returns you could get by investing your money in the market. If you’re saving for a long-term goal, like retirement, a CD won’t give you the growth you need to reach your savings goal in a reasonable period of time.
Read more: Short-term or long-term CD: which is better for you?