Best CD Rates of 2026

Rates, fees and terms last checked on the providers’ official websites: October 15, 2026

A certificate of deposit (CD) is one of the simplest ways to lock in a guaranteed return on your savings. You deposit a fixed amount for a set term — anywhere from a few months to several years — and the bank pays you a fixed APY in exchange for agreeing not to touch the money until the term ends. Unlike a high-yield savings account, the rate on a CD can’t drop partway through your term, which makes CDs appealing when you expect interest rates to fall.

This guide ranks the best CD rates of 2026 across the most commonly searched terms — 6-month, 1-year, and 5-year — and explains exactly how to think about choosing a term length in the current rate environment.

Quick Answer: Best CD Rates of 2026

Disclosure: BankNavigatorr has no affiliate relationships with any bank or financial provider and isn’t paid to include or rank any account. The site is supported by ads served by Google AdSense. Rates and fees change often — confirm current terms on the bank’s official site before applying.

Bank	Best For	Term	APY*	Minimum Deposit
Marcus by Goldman Sachs	Best Low Minimum + Rate Guarantee	6 months–6 years	3.95% (6 mo); 4.40% (12 mo–2 yr)	$500
Synchrony Bank	Best No-Minimum CDs	Multiple terms	4.20% (12 mo)	$0
CIT Bank	Best for No-Penalty CDs	No-Penalty CD	3.90% (as of July 1, 2026 per CIT)	$1,000
Ally Bank	Best Range of CD Types	3 months–5 years	2.80%–4.25% (High Yield CD); 2.80% (No Penalty CD)	$0
Bread Savings	Best Rates Across Many Terms	3 months–5 years	3.95%–4.75% (highest: 18 mo)	$1,500
First National Bank of America	Strong 12-Month Rate	12 months	4.45% (12 mo)	$1,000

*CD rates change frequently. We checked every rate in this table on the bank’s own website on October 15, 2026 (CIT’s page showed rates as of July 1, 2026). Click a bank’s name to see its current rates, and confirm the rate before you fund a CD.

Below, we break down each option, including exactly what makes each one a strong fit for a specific savings timeline.

Marcus by Goldman Sachs — Best Low Minimum With a Rate Guarantee

Short-term CDs, generally in the 6-to-18-month range, are currently offering some of the more competitive rates on the market, and Marcus consistently ranks among the top options for a 6-month term.

Key features

• 4.40% APY on 12-month to 2-year terms and 3.95% on 6 months (as of October 15, 2026); includes a 10-Day CD Rate Guarantee
• $500 minimum deposit to open
• Early withdrawal penalties apply — see Marcus’s FAQs for the amount by term
• No monthly fees

Pros

• Strong, competitive rate for a relatively short commitment
• Low minimum deposit compared to some competitors
• Backed by Goldman Sachs’ established online banking track record

Cons

• Early withdrawal penalty applies if your timeline changes
• Rate is only locked for six months, so you’ll need to find a new CD or account once it matures

Who it’s for: Savers who want to lock in a strong rate for a relatively short period without committing to a multi-year term.

Synchrony Bank — Best No-Minimum CDs Across Multiple Terms

Synchrony stands out for offering competitive rates across a wide range of terms — nine months through five years — with no minimum deposit required to open any of them.

Key features

• No minimum deposit on any CD term, a rarity in this category
• Competitive APYs across 9-month, 1-year, and 5-year terms
• Interest compounds daily and is credited monthly
• 10-day grace period at maturity, during which you can withdraw, add funds, change terms, or close the account without penalty

Pros

• Accessible to savers at any deposit size, since there’s no minimum
• Strong rates across a wide range of term lengths, not just one standout term
• Grace period at maturity adds helpful flexibility

Cons

• Online-only, no physical branches
• No checking account offered as a companion product

Who it’s for: Savers who want strong CD rates without needing to hit a specific minimum deposit, especially useful if you’re just getting started with CD laddering.

CIT Bank — Best for No-Penalty CDs

If the idea of locking your money away and paying a penalty for early access makes you hesitant, CIT Bank’s no-penalty CD offers a middle ground between a savings account and a traditional CD.

Key features

• No-Penalty CD at 3.90% APY (rate shown as of July 1, 2026 on CIT’s page)
• Withdraw your full balance without an early withdrawal penalty after an initial waiting period — check CIT’s terms for details
• $1,000 minimum deposit
• Also offers a full range of standard, penalty-bearing CDs at competitive rates

Pros

• Genuine flexibility to access your money early without losing interest
• Competitive rate for a no-penalty structure, which typically pays less than standard CDs
• Backed by an established online bank with a broad savings and CD lineup

Cons

• Higher minimum deposit than some no-minimum competitors like Synchrony
• No-penalty CDs generally pay a bit less than locking into a standard CD of the same term

Who it’s for: Savers who want a CD-like rate but aren’t fully confident they won’t need the money before the term ends.

Ally Bank — Best Range of CD Types

Ally offers one of the more flexible CD lineups available, including specialty options beyond the standard fixed-rate structure.

Key features

• Standard fixed-rate CDs ranging from three months to five years
• Raise Your Rate CDs, available in two-year and four-year terms, which let you increase your rate once during the term if rates rise
• No-Penalty CD option
• No minimum deposit requirement on CDs
• CDs automatically renew at maturity, with a small loyalty rate bonus in some cases

Pros

• Unique “Raise Your Rate” feature not commonly offered elsewhere, useful if you expect rates to climb
• No minimum deposit required
• Wide range of term lengths and CD structures to choose from

Cons

• Standard rates are solid but not always the single highest available for every term
• Raise Your Rate CDs typically start at a slightly lower rate than a standard CD of the same term

Who it’s for: Savers who want flexibility to adjust their rate if the broader rate environment improves, without needing to open a brand-new CD.

Bread Savings — Best Rates Across Many Terms

Bread Savings, a Comenity Capital Bank brand, offers some of the highest rates in this guide across a wide range of terms, from 3 months to 5 years.

Key features

• APYs from 3.95% to 4.75%, with the highest rate on the 18-month CD (as of October 15, 2026)
• $1,500 minimum deposit
• No monthly fees

Pros

• High rates on both short and long terms
• Competitive rate across the board, rather than just one standout promotional term

Cons

• Higher minimum deposit than several competitors
• Because the curve is flat, you won’t necessarily get a premium rate for locking in longer

Who it’s for: Savers who’d rather pick a term based on their timeline without worrying about optimizing for the single highest rate at each specific term length.

First National Bank of America — Strong 12-Month CD Rate

First National Bank of America (FNBA) currently advertises a 4.45% APY on its 12-month CD with a $1,000 minimum. Earlier versions of this guide featured its 10-year CD, but we could not confirm a current 10-year rate on FNBA’s website on October 15, 2026 — check its CD rates page directly if you want a long-term CD.

Key features

• 4.45% APY on a 12-month CD (as of October 15, 2026)
• The same CD rates are available on FNBA’s IRA and HSA CDs, according to the bank
• $1,000 minimum deposit

Pros

• One of the highest 12-month rates in this guide
• Full range of shorter terms also available at the same institution

Cons

• $1,000 minimum deposit is higher than Ally’s or Synchrony’s $0
• Smaller, less well-known bank than others on this list

Who it’s for: Savers who want a strong one-year rate and can meet the $1,000 minimum.

Best 12-Month CD Rates

If you want a one-year CD, these were the 12-month CD rates on each bank’s website on October 15, 2026:

• Bread Savings: 4.45% APY ($1,500 minimum)
• First National Bank of America: 4.45% APY ($1,000 minimum)
• Marcus by Goldman Sachs: 4.40% APY ($500 minimum)
• Synchrony Bank: 4.20% APY (no minimum)

No-Penalty CDs: When Flexibility Is Worth a Lower Rate

A no-penalty CD lets you withdraw your full balance before maturity without an early withdrawal penalty, usually after a short waiting period after funding. In exchange, the rate is typically lower than a standard CD of similar length. On October 15, 2026, Ally’s No Penalty CD paid 2.80% APY, while CIT’s page showed 3.90% (with rates dated July 1, 2026). Compare those with the high-yield savings rates in our high-yield savings guide — if a savings account pays about the same, it gives you even more flexibility.

Jumbo CDs: Do You Need One?

Jumbo CDs require a large minimum deposit, commonly $100,000. They don’t always pay more than standard online CDs, so compare the jumbo rate with the regular CD rates at the same bank before committing. Also keep the FDIC limit in mind: deposits are insured up to $250,000 per depositor, per bank, per ownership category, so very large balances may need to be split across banks to stay fully covered (FDIC).

How We Chose These Accounts (Methodology)

To rank the best CD rates of 2026, we evaluated publicly available rate sheets directly from each bank, focused on:

• Advertised APY by term length, since the most competitive bank often varies depending on whether you want a 6-month, 1-year, or 5-year CD
• Minimum deposit requirements
• Early withdrawal penalty structure, and whether a no-penalty option is available
• Flexibility features, such as rate-increase options or grace periods at maturity
• FDIC insurance status

Because CD rates move with the Federal Reserve’s benchmark rate and banks frequently run promotional terms (such as 11-month or 13-month CDs priced above the standard 1-year rate), we review and update this article regularly. Always confirm the current rate directly with the bank before opening an account.

How to Choose the Right CD Term

If you think interest rates might fall in the near future: locking in a longer-term CD now protects you from having to reinvest at a lower rate later. Many financial commentators have noted that shorter-term CDs are currently paying similarly to or even more than longer-term CDs — an inverted pattern that historically hasn’t lasted, since banks eventually need to offer a premium for longer commitments.

If you’re not fully sure when you’ll need the money: a no-penalty CD from a bank like CIT Bank gives you a CD-like rate with the flexibility to withdraw early if your plans change.

If you want to spread risk across multiple timelines: consider a CD ladder — splitting your savings across several CDs with staggered maturity dates (for example, 6-month, 1-year, 2-year, and 3-year terms) so that a portion of your money becomes accessible at regular intervals, regardless of which direction rates move.

If you have a long, confident time horizon: a longer CD (3 to 5 years) from Bread Savings or Ally locks in today’s rate for longer, though early withdrawal penalties on long terms are usually larger.

If you don’t want to optimize by term: Marcus’s 4.40% applies to every term from 12 months to 2 years, so you can choose based on your timeline without giving up rate.

Frequently Asked Questions

What happens if I withdraw money from a CD before it matures?

You’ll typically pay an early withdrawal penalty, often calculated as a set number of days of interest (commonly 90 days for terms of a year or less, and 180 days for longer terms). The exact penalty varies by bank, so check the specific terms before opening a CD.

Are CD rates fixed for the entire term?

Yes. Unlike a high-yield savings account, where the APY is variable and can change at any time, a CD’s rate is locked in for the full term once you open it — with the exception of specialty products like Ally’s Raise Your Rate CDs, which allow a one-time rate increase during the term.

Is a CD better than a high-yield savings account right now?

It depends on your timeline and outlook on interest rates. If you’re confident you won’t need the money before the term ends and you want to lock in today’s rate before any potential Fed rate cuts, a CD can make sense. If you might need access to the money, or you think rates could rise further, a high-yield savings account offers more flexibility.

What is a CD ladder?

A CD ladder involves splitting your savings across multiple CDs with different maturity dates, rather than putting everything into a single term. This gives you regular access to a portion of your money as each CD matures, while still capturing higher long-term rates on the rest.

Are CDs FDIC-insured?

Yes, as long as the issuing bank is FDIC-insured, CDs are protected up to $250,000 per depositor, per bank, per ownership category — the same protection as a savings or checking account.

What’s the difference between a CD and a brokered CD?

A standard CD is opened directly with a bank or credit union and held until maturity. A brokered CD is purchased through a brokerage account and can potentially be sold on the secondary market before maturity — but its value can drop below your purchase price if sold early, unlike a standard CD held directly with the issuing bank.

Bottom Line

For a strong short-term rate, Marcus by Goldman Sachs and Synchrony Bank both offer competitive options on 6-to-9-month terms. If flexibility matters more than squeezing out the absolute highest rate, CIT Bank’s no-penalty CD or Ally’s Raise Your Rate CD both offer useful hedges against changing plans or rising rates. And if you want the highest one-year rate, compare Bread Savings and First National Bank of America (both 4.45% on 12 months as of October 15, 2026).

Whichever term and bank you choose, confirm the current advertised APY and early withdrawal penalty directly on the bank’s website before opening a CD, since rates shift with the broader interest rate environment.

Related Guides

• Best High-Yield Savings Account of 2026
• Best Credit Union Bank Account in 2026
• Best Bank Accounts of 2026: Top Picks for Every Need

This article is for informational purposes only and does not constitute financial advice. BankNavigatorr has no affiliate relationships with the providers mentioned and is not paid by them to include or rank any account; the site is supported by advertising.