Best CD Rates for 2026
A CD locks in a fixed rate for a set term. We do not print each bank’s specific rate on this page, since it can change at any time before you open the CD. Once you open one, the rate is fixed for the term regardless of what happens to market rates later. Compare terms, minimum deposits and withdrawal penalties below, and check each bank’s own page for today’s rate.
Account details on this page were last checked on August 23, 2026. We do not publish a bank’s APY here, because savings rates change without notice and a stale number is worse than none. Use the link by each account to see the rate the bank is paying right now. National averages come from the FDIC National Rates and Rate Caps.
| # | CD | Term | Min. Deposit | Early Withdrawal | FDIC | Current rate |
|---|---|---|---|---|---|---|
| 1 | Synchrony Bank 14-Month CD | 14 months | $0 | 180 days interest | Yes | Check |
| 2 | Marcus 12-Month CD | 12 months | $500 | 90 days interest | Yes | Check |
| 3 | CIT Bank 11-Month No-Penalty CD | 11 months | $1,000 | None | Yes | Check |
| 4 | Amex 12-Month CD | 12 months | $0 | 270 days interest | Yes | Check |
Synchrony Bank 14-Month CD
14 months · Min: $0 · Early withdrawal: 180 days interest
14 months
Term
Pros
- No minimum deposit required
- FDIC insured to $250,000 per depositor, per bank, per ownership category
- One of the shorter terms in this comparison
Cons
- 180-day penalty is steeper than most 1-year CDs
- 14-month term is slightly longer than a standard 1-year
- Slightly higher early withdrawal penalty than other picks
Marcus 12-Month CD
12 months · Min: $500 · Early withdrawal: 90 days interest
12 months
Term
Pros
- Trusted Goldman Sachs brand
- Low 90-day early withdrawal penalty
- No monthly fees
Cons
- $500 minimum deposit to open
- No ATM or debit card access
CIT Bank 11-Month No-Penalty CD
11 months · Min: $1,000 · Early withdrawal: None
11 months
Term
Pros
- No early withdrawal penalty at all
- Withdraw the full balance early without an interest penalty
- FDIC insured
Cons
- $1,000 minimum deposit
- Trades some yield for the no-penalty flexibility, so compare against locked-term CDs
- 11-month term does not auto-renew into another no-penalty CD
Amex 12-Month CD
12 months · Min: $0 · Early withdrawal: 270 days interest
12 months
Term
Pros
- No minimum deposit
- Easy to link with existing Amex card account
- No monthly fees
Cons
- No ATM or checking account pairing
- Standard 12-month term only, no shorter or no-penalty option shown here
- 270 days of interest if you withdraw early, one of the steeper penalties here
How we picked these CDs
Every CD on this list is FDIC insured, charges no monthly fees, and comes from a reputable online bank with clear, published penalty terms. We order them by minimum deposit and early withdrawal flexibility. We do not rank by APY, because we do not publish APYs: rates move without notice and we have no maintained feed that would keep a figure honest between updates. Each CD links to the bank's own rate page instead.
1-year vs 2-year vs 5-year CD: which term is best right now?
In 2026, with rates potentially declining, 1-year CDs let you reinvest sooner. If rates drop in 2027, you still had the higher rate for a full year and then get to reassess. 5-year CDs lock in the rate longer, which is great if rates fall sharply, but you lose flexibility for five years and face a steep penalty if you need the money early.
If you are not sure which direction rates will go, a CD ladder splits your money across multiple terms so you always have a portion maturing soon.
What is a CD ladder?
A CD ladder splits your savings across several CDs with different maturity dates. For example, you put $15,000 into three CDs: $5,000 in a 1-year CD, $5,000 in a 2-year CD, and $5,000 in a 3-year CD. Each year one CD matures, giving you access to part of your money.
When each CD matures, you reinvest at the current rate. If rates went up, you benefit. If they went down, you still have the other CDs locked at the older, higher rates.
The ladder reduces the risk of committing all your money at the wrong time. It is one of the simplest tools in personal finance and works especially well when future rate moves are unclear.
CD vs HYSA: which should you choose?
Choose a CD if:
- You do not need the money for 6 to 24 months
- You want to lock in the current rate before it drops
- You have a defined savings goal with a deadline
Choose a HYSA if:
- You may need access to the money at any time
- You want a variable rate that could move up with the Fed
- You are building an emergency fund
Not sure which one wins for your situation? See our best high-yield savings accounts comparison for a wider set of options.
Want to see exactly how much a CD will earn?
Enter any APY and term into the free CD calculator.
Open the CD CalculatorFrequently asked questions
What is a certificate of deposit (CD)?
A CD locks your money for a set term at a fixed APY. Common terms are 6 months, 1 year, 3 years, and 5 years. You earn the agreed rate until the CD matures. Withdrawing early usually triggers a penalty.
Are CDs FDIC insured?
Yes. CDs at FDIC-member banks are insured up to $250,000 per depositor, per bank. Credit union CDs use NCUA insurance with the same limit. Your money is safe up to that cap. (Source: FDIC.gov)
What is a no-penalty CD?
A no-penalty CD lets you withdraw your money before maturity without paying a fee. The tradeoff is a slightly lower APY than a traditional CD. Good option if you think you might need the cash before the term ends.
What happens when a CD matures?
At maturity, most banks give you a short window (typically 7 to 10 days) to withdraw or move the money. If you do nothing, the bank usually rolls the CD into a new one at the current rate, which may be lower.
What is the early withdrawal penalty?
Banks charge 3 to 12 months of interest for breaking a CD early. A 1-year CD at Marcus charges 90 days of interest. A 5-year CD may charge 150 to 365 days. The exact penalty is in your CD agreement.
How often do CD rates change?
CD rates are set at opening and fixed for the term. Once you open a CD, your rate does not change. New CD rates change when market rates move. After the Fed cuts rates, new CDs pay less, which is why locking in now can make sense.
What if I need the money before the CD matures?
You have three options: (1) Pay the early withdrawal penalty and take the money. (2) Use a no-penalty CD such as the CIT Bank 11-month option above. (3) Use a HYSA instead, which has no fixed term and no early-withdrawal penalty, subject to your bank's transfer rules.
Methodology and sources
CDs are ordered by minimum deposit, early withdrawal flexibility, and bank reputation. We do not rank by APY, because we do not publish APYs: rates move without notice and we have no maintained feed that would keep a figure honest between updates. Each CD links to the bank's own rate page instead. Primary data sources: FDIC weekly national rates and each bank's published rate page. Always verify current terms before opening an account.
What to do next
Want to know when the savings landscape changes?
We will email you when the Federal Reserve moves its target rate, when the FDIC publishes new national averages, and when we publish a newly verified comparison. We do not track individual banks’ APYs and we will not pretend to, so this is an infrequent email about things that genuinely change the picture.
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