Generally, you’ll receive a Form 1099-INT each year if you earn more than $10 interest, if there is withholding or if there is a penalty. This will generally be taxed as ordinary income, according to the IRS. For instance, a CD customer with a multi-year CD should receive a 1099-INT from their bank after each year interest is earned if at least $10 of interest was earned during a calendar year.

Are there fees associated with CDs?

CDs generally have an early withdrawal penalty for taking your money out before the CD matures. No-penalty CDs are the exception, though they may also impose a penalty if the funds are withdrawn during the first six or seven days after the account is opened.

Is an online bank the best choice for a CD?

Online banks tend to offer higher APYs than brick-and-mortar banks. These online-only institutions typically have lower overhead costs and are able to pass the savings along to their customers in the form of higher rates. In addition, unlike your bank located on the corner of Main Street, online banks may need a higher APY to get your attention and earn your business.

How long can you leave money in a CD?

You can keep your money in a CD and generally let it renew over and over. CDs generally automatically renew. However, unclaimed CDs can be escheated — or transferred from an estate to the government — subject to each state’s laws. To avoid your CD being escheated due to being considered abandoned property, be sure to keep in touch with your bank and keep a valid mailing address on file.

Do CDs have beneficiaries?

Banks generally give account holders with CDs the opportunity to name a beneficiary, which is a person who will inherit your savings in the event that you die. While naming a beneficiary for your CD may be the last thing on your mind, experts say it’s an important step to take. If you don’t have a beneficiary designated to receive the funds in your CD, your savings will go through probate, which is the court process for deciding what happens to the property of an individual after their death.

Can you lose money on a CD?

The money in your CD is safe at either an FDIC-insured bank or a credit union insured by the National Credit Union Share Insurance Fund (NCUSIF), as long as the amount of money in the account is within the established limits and guidelines. You won’t lose money with a CD unless your early withdrawal penalty cuts into your principal, which could happen if the penalty is steep. The other way you can say you “lose money” on a CD is if inflation is higher than what your CD earns. You're not really losing money, but your money is losing purchasing power. Right now, the top CDs on this list are outpacing inflation.

Best CD rates of April 2026 (Up to 4.50%)

Written by

and

Edited by

Reviewed by

Expert verified

Updated April 18, 2026

At Bankrate we strive to help you make smarter financial decisions. Though our partners compensate us from links on this page, we maintain editorial integrity, and partners don't influence our product evaluations. Here's how we make money and here is our advertiser disclosure.

Opening a certificate of deposit (CD) allows you to lock in an attractive fixed rate and earn higher returns compared to traditional savings accounts, while providing guaranteed growth for a set period. Currently, the best CD rates still earn around 4% APY and are highest on short-term CDs. The top rate tracked by Bankrate's editorial team is 4.50% offered by United Fidelity Bank.

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See how we pick our picks: Read our Best CD rates research methodology

Table of contents

Best CD rates from top banks
Recent news on CD rates
How to choose the best CD for you
Compare top CD rates today by term
Pros and cons of CDs
Types of CDs
Alternatives to CDs
CD FAQs
How to use CDs to prepare for your next big purchase
Research methodology

Best CD rates from top banks for April 2026

Note: APYs may have changed since they were last updated and may vary by region for some products. Bankrate only includes FDIC banks or NCUA credit unions in the editorial listings below.

Read review

LendingClub

4.5 Bankrate CD score

Annual percentage yield

3.40% – 4.15%
Min. deposit to open

$500
Term

6 months - 5 years

Why LendingClub?

LendingClub Bank offers just six terms of CDs, ranging from a six-month CD to a five-year CD. The interest rates for all terms are fairly competitive, and all require a minimum deposit of $500, which is lower than many competitors.

Pros

Rates are competitive.
All the most common terms of CDs are available for potential laddering.
Cons

No specialty CDs available
Not a lot of CD terms.
Early withdrawal penalties are fairly standard.

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

LendingClub

APY

National average APY

Term length

How do we get this data?

Term	APY	Min. deposit
6 months	3.90% APY	$500
11 months	4.15% APY	$500
1 year	3.50% APY	$500
18 months	3.50% APY	$500
2 years	3.50% APY	$500
3 years	3.45% APY	$2,500
5 years	3.40% APY	$500

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	LendingClub APY APY last updated 4/14/2026. APY last updated 4/14/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
03/03/2026	3.40%	1.69%
01/06/2026	3.40%	1.68%
11/04/2025	3.40%	1.69%
07/01/2025	3.40%	1.70%
06/03/2025	3.40%	1.72%
05/06/2025	3.40%	1.70%
04/22/2025	3.40%	1.69%

Read review

Bread Savings

4.1 Bankrate CD score

Annual percentage yield

3.80% – 4.15%
Min. deposit to open

$1,500
Term

3 months - 5 years

Why Bread Savings?

Bread Savings offers nine CDs, ranging from three months to five years, all with relatively strong yields. Its $1,500 minimum deposit is higher than many online bank competitors at, but its array of terms and rates make it a good spot for creating a CD ladder.

Pros

Solid APYs available.
Good range of CD terms.
Cons

Specialty CDs such as no-penalty and bump-up CDs aren’t available.
Early withdrawal penalties are on the steeper side.

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

Bread Savings

APY

National average APY

Term length

How do we get this data?

Term	APY	Min. deposit
6 months	3.90% APY	$500
11 months	4.15% APY	$500
1 year	3.50% APY	$500
18 months	3.50% APY	$500
2 years	3.50% APY	$500
3 years	3.45% APY	$2,500
5 years	3.40% APY	$500

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Bread Savings APY APY last updated 4/14/2026. APY last updated 4/14/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
04/14/2026	3.85%	1.69%
03/03/2026	3.70%	1.69%
01/06/2026	3.70%	1.68%
12/23/2025	3.70%	1.69%
11/04/2025	3.75%	1.69%
10/13/2025	3.75%	1.70%
08/04/2025	3.85%	1.70%
07/01/2025	4.00%	1.70%
06/03/2025	4.00%	1.72%
05/06/2025	4.00%	1.70%
04/22/2025	4.00%	1.69%

Term	APY	Min. deposit
3 months	3.80% APY	$1,500
3 months	3.80% APY	$1,500
6 months	4.00% APY	$1,500
9 months	4.15% APY	$1,500
1 year	3.85% APY	$1,500
1 year	3.85% APY	$1,500
18 months	3.85% APY	$1,500
18 months	3.85% APY	$1,500
2 years	3.85% APY	$1,500
2 years	3.85% APY	$1,500
3 years	3.85% APY	$1,500
3 years	3.85% APY	$1,500
4 years	3.85% APY	$1,500
4 years	3.85% APY	$1,500
5 years	3.85% APY	$1,500
5 years	3.85% APY	$1,500

Read review

E*TRADE

4.5 Bankrate CD score

Annual percentage yield

3.95% – 4.10%
Min. deposit to open

$0
Term

6 months - 5 years

Why E*TRADE?

E*TRADE from Morgan Stanley Private Bank offers CD terms ranging from six months to five years, all with solid rates. And a $0 minimum deposit requirement makes this a CD that's accessible to most savers.

Pros

Above-average rates on all CDs.
No minimum balance requirements.
Early withdrawal penalty for the one-year CD is pretty standard.
Cons

No bump-up, no-penalty or IRA CDs.
Grace period to withdraw funds after the CD matures is only seven days.

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

E*TRADE

APY

National average APY

Term length

How do we get this data?

Term APY Min. deposit

6 months 4.05% APY No minimum

1 year 4.10% APY No minimum

2 years 4.00% APY No minimum

3 years 3.95% APY No minimum

5 years 3.95% APY No minimum

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	E*TRADE APY APY last updated 4/14/2026. APY last updated 4/14/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
03/31/2026	3.95%	1.69%
03/03/2026	3.70%	1.69%
01/13/2026	3.70%	1.68%
01/06/2026	3.75%	1.68%
11/04/2025	3.75%	1.69%
10/21/2025	3.75%	1.70%
09/16/2025	3.70%	1.70%
09/09/2025	3.85%	1.70%
07/15/2025	4.20%	1.70%
07/01/2025	3.90%	1.70%
06/03/2025	3.90%	1.72%
05/06/2025	3.90%	1.70%
04/22/2025	3.90%	1.69%

Term	APY	Min. deposit
6 months	4.05% APY	No minimum
1 year	4.10% APY	No minimum
2 years	4.00% APY	No minimum
3 years	3.95% APY	No minimum
5 years	3.95% APY	No minimum

Read review

Capital One

4.6 Bankrate CD score

Annual percentage yield

3.20% – 4.10%
Min. deposit to open

$0
Term

6 months - 5 years

Why Capital One?

Capital One offers CDs with terms as short as six months or as long as five years. These CDs have no minimum opening deposit and competitive yields.

Pros

No minimum opening deposit.
Wide variety of terms.
Standard early withdrawal penalties.
Cons

No specialty CDs, like a no-penalty CD, are available.

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

Capital One

APY

National average APY

Term length

How do we get this data?

Term	APY	Min. deposit
6 months	3.90% APY	$500
11 months	4.15% APY	$500
1 year	3.50% APY	$500
18 months	3.50% APY	$500
2 years	3.50% APY	$500
3 years	3.45% APY	$2,500
5 years	3.40% APY	$500

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Capital One APY APY last updated 4/14/2026. APY last updated 4/14/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
03/03/2026	3.60%	1.69%
01/06/2026	3.60%	1.68%
12/04/2025	3.60%	1.69%
11/03/2025	3.50%	1.69%
10/22/2025	3.50%	1.70%
09/11/2025	3.60%	1.70%
07/21/2025	3.75%	1.70%
07/01/2025	3.50%	1.70%
06/03/2025	3.50%	1.72%
05/19/2025	3.50%	1.70%

Term	APY	Min. deposit
6 months	3.20% APY	No minimum
9 months	3.20% APY	No minimum
11 months	4.10% APY	No minimum
1 year	3.90% APY	No minimum
18 months	3.60% APY	No minimum
2 years	3.50% APY	No minimum
30 months	3.50% APY	No minimum
3 years	3.50% APY	No minimum
4 years	3.50% APY	No minimum
5 years	3.60% APY	No minimum

Read review

Popular Direct

3.5 Bankrate CD score

Annual percentage yield

3.30% – 4.10%
Min. deposit to open

$10,000
Term

3 months - 5 years

Why Popular Direct?

Popular Direct is an online bank and a subsidiary of Popular Inc., a more than 130-year-old financial services company. It offers CDs in eight terms, ranging from three months to five years, many with competitive rates. With a $10,000 minimum deposit to open, these CDs are geared toward serious savers. Popular Direct doesn’t offer specialty CDs, such as bump-up or no-penalty CDs, though it does offer a savings account with a competitive rate.

Pros

Popular Direct consistently offers competitive rates across its CDs.
Cons

Popular Direct has a $10,000 minimum deposit to open.
The bank doesn't offer specialty CDs like bump-up or no-penalty CDs.
Popular Direct has pretty steep withdrawal penalties.

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

Popular Direct

APY

National average APY

Term length

How do we get this data?

Term	APY	Min. deposit
6 months	3.90% APY	$500
11 months	4.15% APY	$500
1 year	3.50% APY	$500
18 months	3.50% APY	$500
2 years	3.50% APY	$500
3 years	3.45% APY	$2,500
5 years	3.40% APY	$500

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Popular Direct APY APY last updated 4/14/2026. APY last updated 4/14/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
03/03/2026	3.30%	1.69%
01/06/2026	3.30%	1.68%
12/16/2025	3.30%	1.69%
11/04/2025	3.45%	1.69%
09/23/2025	3.70%	1.70%
09/16/2025	3.80%	1.70%
09/02/2025	3.90%	1.70%
08/19/2025	4.05%	1.70%
08/05/2025	4.15%	1.70%
07/01/2025	4.20%	1.70%
06/03/2025	4.20%	1.72%
05/20/2025	4.20%	1.70%
05/06/2025	4.05%	1.70%
04/22/2025	4.05%	1.69%

Term	APY	Min. deposit
3 months	3.90% APY	$10,000
6 months	4.10% APY	$10,000
1 year	4.05% APY	$10,000
18 months	3.90% APY	$10,000
2 years	3.85% APY	$10,000
3 years	3.85% APY	$10,000
4 years	3.30% APY	$10,000
5 years	3.30% APY	$10,000

Read review

Limelight Bank

4.1 Bankrate CD score

Annual percentage yield

3.30% – 4.08%
Min. deposit to open

$1,000
Term

6 months - 5 years

Why Limelight Bank?

Limelight Bank is an online bank based in Utah that offers its CDs nationwide. It has six CD terms ranging from six months to five years. The rates are competitive and good for short- to moderate-term saving needs, but you'll need to look elsewhere for longer-term investments.

Pros

Competitive yields on all CDs.
Early withdrawal penalties are pretty standard.
Cons

Only a few CD terms.
No specialty CDs.

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

Limelight Bank

APY

National average APY

Term length

How do we get this data?

Term	APY	Min. deposit
6 months	3.90% APY	$500
11 months	4.15% APY	$500
1 year	3.50% APY	$500
18 months	3.50% APY	$500
2 years	3.50% APY	$500
3 years	3.45% APY	$2,500
5 years	3.40% APY	$500

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Limelight Bank APY APY last updated 4/14/2026. APY last updated 4/14/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
03/03/2026	3.30%	1.69%
02/24/2026	3.30%	1.68%

Term	APY	Min. deposit
6 months	4.08% APY	$1,000
1 year	4.03% APY	$1,000
18 months	3.90% APY	$1,000
2 years	3.80% APY	$1,000
3 years	3.65% APY	$1,000
5 years	3.30% APY	$1,000

Read review

Marcus by Goldman Sachs

4.8 Bankrate CD score

Annual percentage yield

3.85% – 4.05%
Min. deposit to open

$500
Term

6 months - 6 years

Why Marcus by Goldman Sachs?

Marcus by Goldman Sachs offers CD terms ranging from six months to six years, and the minimum required opening deposit of $500 is lower than what some other banks require. The rates are competitive for most terms. In addition to standard CDs, the online-only bank offers high-yielding no-penalty CDs and a rate bump CD.

Pros

Competitive yields across most terms.
Rate bump CD and three no-penalty CDs, all with good rates, are available.
Marcus' CD penalties are generally on the lower end, compared with those at competing banks.
Cons

No CD terms are longer than six years.

Term	APY	Min. deposit
6 months	3.90% APY	$500
11 months	4.15% APY	$500
1 year	3.50% APY	$500
18 months	3.50% APY	$500
2 years	3.50% APY	$500
3 years	3.45% APY	$2,500
5 years	3.40% APY	$500

Term	APY	Min. deposit
6 months	4.00% APY	$500
7 months	3.90% APY	$500
9 months	4.05% APY	$500
11 months	3.95% APY	$500
1 year	4.00% APY	$500
13 months	3.95% APY	$500
18 months	4.00% APY	$500
20 months	3.90% APY	$500
2 years	3.95% APY	$500
3 years	3.90% APY	$500
4 years	3.85% APY	$500
5 years	3.90% APY	$500
6 years	3.90% APY	$500

Read review

Bask Bank

3.4 Bankrate CD score

Annual percentage yield

3.65% – 4.00%
Min. deposit to open

$1,000
Term

3 months - 2 years

Why Bask Bank?

Bask Bank is the online division of Texas Capital Bank and offers only short-term CD terms. These terms range from three months to two years and all offer competitive yields. You’ll need at least $1,000 to open a CD at Bask Bank. Those looking for a longer-term CD will need to look elsewhere.

Pros

Bask Bank offers competitive yields on all of its CDs.
Early withdrawal penalties are on the lower end of standard.
Cons

Bask Bank doesn’t offer terms longer than two years.

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

Bask Bank

APY

National average APY

Term length

How do we get this data?

Term	APY	Min. deposit
6 months	3.90% APY	$500
11 months	4.15% APY	$500
1 year	3.50% APY	$500
18 months	3.50% APY	$500
2 years	3.50% APY	$500
3 years	3.45% APY	$2,500
5 years	3.40% APY	$500

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Bask Bank APY APY last updated 4/14/2026. APY last updated 4/14/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
04/07/2026	3.65%	1.74%
03/03/2026	3.65%	1.73%
02/03/2026	3.65%	1.72%
01/06/2026	3.65%	1.70%
12/02/2025	3.65%	1.71%
11/11/2025	3.65%	1.73%
11/04/2025	3.75%	1.73%
10/07/2025	3.75%	1.76%
09/23/2025	3.75%	1.77%
09/02/2025	3.90%	1.77%
08/05/2025	4.00%	1.78%
07/01/2025	4.00%	1.77%
06/03/2025	4.00%	1.78%
04/22/2025	4.00%	1.77%

Term	APY	Min. deposit
3 months	3.85% APY	$1,000
6 months	3.90% APY	$1,000
9 months	4.00% APY	$1,000
1 year	4.00% APY	$1,000
18 months	3.75% APY	$1,000
2 years	3.65% APY	$1,000

Read review

First National Bank of America

2.9 Bankrate CD score

Annual percentage yield

3.80% – 4.00%
Min. deposit to open

$1,000
Term

18 months - 6 years

Why First National Bank of America?

First National Bank of America is a Michigan-based bank that offers its CDs online nationwide. And its CD rates are solid across many terms. You can open a CD with a $1,000 minimum deposit, and you have your pick of terms from three months all the way up to 10 years.

Pros

Solid yields on all CDs.
Wide range of terms are available.
Cons

Early withdrawal penalties are on the steeper side.

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

First National Bank of America

APY

National average APY

Term length

How do we get this data?

Term	APY	Min. deposit
6 months	3.90% APY	$500
11 months	4.15% APY	$500
1 year	3.50% APY	$500
18 months	3.50% APY	$500
2 years	3.50% APY	$500
3 years	3.45% APY	$2,500
5 years	3.40% APY	$500

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	First National Bank of America APY APY last updated 4/14/2026. APY last updated 4/14/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
04/14/2026	4.00%	--
12/02/2025	3.80%	--
05/05/2025	3.90%	--

Term	APY	Min. deposit
18 months	3.80% APY	$1,000
2 years	3.80% APY	$1,000
3 years	3.80% APY	$1,000
4 years	3.80% APY	$1,000
5 years	3.80% APY	$1,000
6 years	4.00% APY	$1,000

Read review

Sallie Mae

4.2 Bankrate CD score

Annual percentage yield

3.20% – 4.00%
Min. deposit to open

$2,500
Term

6 months - 5 years

Why Sallie Mae?

Sallie Mae offers 11 terms of CDs, including some lengths that aren’t available at other banks. The minimum opening deposit is a bit high at $2,500, but savers with that much to invest will be rewarded with some of the best rates available.

Pros

The bank’s rates are competitive across all terms.
Sallie Mae offers a wide variety of CD terms.
Early withdrawal penalties are on the standard side.
Cons

Minimum deposit requirements are on the high side.
No specialty CDs, like no-penalty CDs, available.

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

Sallie Mae

APY

National average APY

Term length

How do we get this data?

Term	APY	Min. deposit
6 months	3.90% APY	$500
11 months	4.15% APY	$500
1 year	3.50% APY	$500
18 months	3.50% APY	$500
2 years	3.50% APY	$500
3 years	3.45% APY	$2,500
5 years	3.40% APY	$500

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Sallie Mae APY APY last updated 4/14/2026. APY last updated 4/14/2026	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
03/02/2026	4.00%	1.69%
01/07/2026	4.00%	1.68%
11/05/2025	4.00%	1.69%
10/08/2025	3.90%	1.70%
09/16/2025	3.80%	1.70%
07/08/2025	4.00%	1.70%
07/01/2025	3.80%	1.70%
06/03/2025	3.80%	1.72%
05/06/2025	3.80%	1.70%
04/22/2025	3.80%	1.69%

Term	APY	Min. deposit
6 months	3.20% APY	$2,500
9 months	3.70% APY	$2,500
11 months	4.00% APY	$2,500
1 year	3.80% APY	$2,500
13 months	3.95% APY	$2,500
15 months	3.95% APY	$2,500
18 months	4.00% APY	$2,500
2 years	3.85% APY	$2,500
30 months	3.90% APY	$2,500
3 years	3.95% APY	$2,500
5 years	4.00% APY	$2,500

Read review

Colorado Federal Savings Bank

4.2 Bankrate CD score

Annual percentage yield

3.50% – 4.00%
Min. deposit to open

$5,000
Term

3 months - 5 years

Why Colorado Federal Savings Bank?

Colorado Federal Savings Bank offers a range of CDs from three months to five years, all with strong APYs. It’s a good spot if you’re looking to build aCD ladder if you can afford the steep $5,000 minimum deposit minimum deposit per CD. If you're unsure about locking your funds up for a full term, the bank offers a no-penalty CD with a solid rate.

Pros

High APYs across many terms.
Reasonable early withdrawal penalties, especially on longer-term CDs.
Cons

High minimum deposit.

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

Colorado Federal Savings Bank

APY

National average APY

Term length

How do we get this data?

Term	APY	Min. deposit
6 months	3.90% APY	$500
11 months	4.15% APY	$500
1 year	3.50% APY	$500
18 months	3.50% APY	$500
2 years	3.50% APY	$500
3 years	3.45% APY	$2,500
5 years	3.40% APY	$500

Term	APY	Min. deposit
3 months	3.50% APY	$5,000
6 months	4.00% APY	$5,000
1 year	3.90% APY	$5,000
18 months	3.85% APY	$5,000
2 years	3.80% APY	$5,000
3 years	3.75% APY	$5,000
5 years	3.60% APY	$5,000

Recent news on CD rates

CD rates remain high, for now.

But they have been trending downward since late 2023, which was the peak of the current rate cycle. That’s because CD rates at least partially respond to moves that the Federal Reserve makes with the benchmark federal funds rate.

They began to move downward in earnest after the Fed cut rate cuts three times in late 2025. In 2026 so far, the Fed has kept the fed funds rate steady, but competitive CD rates have still inched down, slowly.

The highest CD rates right now, according to Bankrate’s analysis, are mostly found on short-term CDs of five months to twelve months. But you can find rates on pretty much all terms that are still outpacing inflation.

Learn more: CD rate forecast for 2026

How to choose the best CD for you

When choosing a CD, find the highest APY for the term that you need for your financial goals. You also want to consider the early withdrawal penalty so you know what’ll happen in the worst-case scenario if you need to pull your money out early.

Compare top CD rates today by term

Here’s where you’ll find some of the top-yielding CDs by term.

Institution	APY	Min. deposit
Popular Direct	3.90% APY	$10,000
Quontic Bank	3.85% APY	$500
Bask Bank	3.85% APY	$1,000

Institution	APY	Min. deposit
Popular Direct	4.10% APY	$10,000
Limelight Bank	4.08% APY	$1,000
E*TRADE	4.05% APY	No minimum

Institution	APY	Min. deposit
E*TRADE	4.10% APY	No minimum
Popular Direct	4.05% APY	$10,000
Limelight Bank	4.03% APY	$1,000

Institution	APY	Min. deposit
E*TRADE	3.95% APY	No minimum
Sallie Mae	3.95% APY	$2,500
Marcus by Goldman Sachs	3.90% APY	$500

Institution	APY	Min. deposit
Sallie Mae	4.00% APY	$2,500
E*TRADE	3.95% APY	No minimum
Marcus by Goldman Sachs	3.90% APY	$500

Note: Annual percentage yields (APYs) shown were updated between April 11 and April 17. Bankrate's editorial team validates this information regularly. APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes only FDIC banks or NCUA credit unions in its listings.

Your CD can beat the average interest rates for CDs

Researching average interest rates provides insight into the CD rate environment and can help in finding a CD with a yield that's much higher than average. Here are the current average rates as of Apr 18, according to Bankrate's most recent survey of institutions:

CD term	CD national average APY
1 year	1.9%
2 year	1.74%
3 year	1.64%
4 year	1.78%
5 year	1.7%

Bankrate made enhancements to our national averages database on April 14, 2025, including ones that retroactively impact previous weeks’ listings in our table. Previous enhancements were also made in January 2025. Up to 1,200 banks and credit unions are surveyed weekly to generate the national averages. Among these institutions are those that are broadly available and offer high yields, as well as some of the nation’s largest banks.

Expert Insight

You don’t have to be good at math or even use a calculator to see you can earn a rate that’s about twice as high as the national average. You just need to be open to banking with an online bank or credit union, as they often have the highest CD rates.

Yuliya Goldshteyn

Editor, Deposits

Pros and cons of CDs

Pros

Guaranteed rate.
Potentially higher APY than other savings products.
A helpful barrier between you and your savings for future expenses.
Federally insured, up to a limit.

Cons

There is usually a penalty to access to your money.
Risk of rates rising during your CD term.
You usually can’t add funds over time.
Potentially better returns in the stock market but with a lot more risk.

Types of CDs

Banks and credit unions offer a wide range of CDs to fit different financial needs. Take some time to consider which type of CD is best for you.

Traditional CDs are the most common type of CD. They earn a fixed APY for the entire term and don’t allow you to add more funds after your opening deposit.

They also charge you an early withdrawal penalty for taking your money out before the CD matures.

When this CD makes sense: Traditional CDs are a good choice if you know exactly when you’ll need the money, and there’s no chance of needing it before the term is up. They’re often good for CD ladders or other CD investing strategies in which timing is important.

No-penalty CDs — also known as liquid CDs — allow you to withdraw your money early without being charged a penalty.

No-penalty CD rates tend to be lower than regular CD rates, but they can be better than some high-yield savings account or money market account rates.

When this CD makes sense: Consider a no-penalty CD if you don’t plan to withdraw the money before the CD matures, but you want to keep some flexibility just in case.

Bump-up CDs allow you to request an increase in your rate during the CD term under certain conditions. Banks that offer this CD usually allow just one bump-up per term. Like no-penalty CDs, bump-up CDs often pay lower rates than traditional CDs.

When this CD makes sense: A bump-up CD could be a good option if rates are expected to rise significantly during the term of the CD. Otherwise, you’re likely accepting a lower rate for limited potential upside.

Alternatives to CDs

High-yield savings account

These accounts pay rates that are on par with many of the best CDs but give you easier access to your savings.

Money market account

This is an interest-bearing account that’s similar to a savings account but also offers some checking account features.

Short-term bond funds

These funds, be they exchange-traded funds (ETFs) or mutual funds, typically invest in government and corporate bonds.

Index funds

These funds are based on a preset basket of stocks, or index. They promise ownership of a wide variety of stocks, greater diversification and lower risk — usually all at a low cost.

CD FAQs

Generally, you’ll receive a Form 1099-INT each year if you earn more than $10 interest, if there is withholding or if there is a penalty. This will generally be taxed as ordinary income, according to the IRS.

For instance, a CD customer with a multi-year CD should receive a 1099-INT from their bank after each year interest is earned if at least $10 of interest was earned during a calendar year.
CDs generally have an early withdrawal penalty for taking your money out before the CD matures. No-penalty CDs are the exception, though they may also impose a penalty if the funds are withdrawn during the first six or seven days after the account is opened.
Online banks tend to offer higher APYs than brick-and-mortar banks. These online-only institutions typically have lower overhead costs and are able to pass the savings along to their customers in the form of higher rates. In addition, unlike your bank located on the corner of Main Street, online banks may need a higher APY to get your attention and earn your business.
You can keep your money in a CD and generally let it renew over and over. CDs generally automatically renew. However, unclaimed CDs can be escheated — or transferred from an estate to the government — subject to each state’s laws. To avoid your CD being escheated due to being considered abandoned property, be sure to keep in touch with your bank and keep a valid mailing address on file.
Banks generally give account holders with CDs the opportunity to name a beneficiary, which is a person who will inherit your savings in the event that you die. While naming a beneficiary for your CD may be the last thing on your mind, experts say it’s an important step to take.

If you don’t have a beneficiary designated to receive the funds in your CD, your savings will go through probate, which is the court process for deciding what happens to the property of an individual after their death.
The money in your CD is safe at either an FDIC-insured bank or a credit union insured by the National Credit Union Share Insurance Fund (NCUSIF), as long as the amount of money in the account is within the established limits and guidelines.

You won’t lose money with a CD unless your early withdrawal penalty cuts into your principal, which could happen if the penalty is steep.

The other way you can say you “lose money” on a CD is if inflation is higher than what your CD earns. You're not really losing money, but your money is losing purchasing power. Right now, the top CDs on this list are outpacing inflation.

How to use CDs to prepare for your next big purchase

Use a CD to save for a downpayment

And learn about other ways to save toward a house

Father holding his baby child while working on financial documents

Build a CD ladder

Learn how to use a CD ladder for short- and long-term investing

Bankrate's CD calculator

Calculate your potential earnings with our CD calculator

Find the best jumbo CD rates

If you have a lot saved toward a downpayment, you could find higher CD rates with a jumbo CD

Meet our Bankrate experts

Written by

Matthew Goldberg Matthew Goldberg

Former Senior Consumer Banking Reporter

Research methodology

Bankrate researches over 100 banks and credit unions, including some of the largest financial institutions, online-only banks, regional banks and credit unions with both open and restrictive membership policies.

To find the best CD rates, we regularly survey CD offerings from the banks and credit unions that continually offer the most competitive CD rates. We also score these institutions on their CD offerings, including APY, minimum deposit requirements, term selection and more.

The banks and credit unions on this page are selected based on their CD APYs, minimum opening deposit requirements and Bankrate’s score for their CDs. Only banks and credit unions with broadly available CD offerings made the list. Learn more about how we choose the best banking products and our methodology for reviewing banks.

Alliant Credit Union, Ally Bank, Alto, America First Credit Union, American Express National Bank, Axos Bank, Banesco USA, Bank of America, Bank5 Connect, BankUnited Direct, Barclays Bank, Bask Bank, BMO Bank, Boeing Employees’ Credit Union, Bread Savings, BrioDirect, BTG Pactual, Capital One, Cash App, CFG Bank, Charles Schwab Bank, Chase Bank, CIBC Bank USA, CIT Bank, Citibank, Citizens Access, Citizens Bank, Colorado Federal Savings Bank, Connexus Credit Union, Credit One Bank, Customers Bank, Discover Bank, E*TRADE from Morgan Stanley, Emigrant Bank, EverBank, Fifth Third Bank, First Citizens Bank, First Internet Bank, First National Bank of America, First Tech Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, Golden 1 Credit Union, Huntington National Bank, Jenius Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Limelight Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Mountain America Credit Union, MySavingsDirect, Navy Federal Credit Union, NBKC Bank, North American Savings Bank, Openbank, Patelco Credit Union, Peak Bank, Pentagon Federal Credit Union, PNC Bank, Popular Direct, Quontic Bank, Quorum Federal Credit Union, Regions Bank, Rising Bank, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, SoFi, State Employees' Credit Union, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Texas Capital Bank, The Federal Savings Bank, Third Federal Savings and Loan, Truist Bank, UFB Direct, US Bank, USAA Bank, Valley Bank, Varo Bank, Vio Bank, Wells Fargo, Western State Bank, Zions Bank, ZYNLO Bank

Clock and dollar bills representing a Certificate of Deposit, with the title Best CD Rates

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Best CD rates of April 2026 (Up to 4.50%)

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Best CD rates from top banks for April 2026

LendingClub

Annual percentage yield

Min. deposit to open

Term

Why LendingClub?

Pros and cons

Rate history for LendingClub's CD accounts

Current LendingClub CD Rates

Bread Savings

Annual percentage yield

Min. deposit to open

Term

Why Bread Savings?

Pros and cons

Rate history for Bread Savings's CD accounts

Current Bread Savings CD Rates

E*TRADE

Annual percentage yield

Min. deposit to open

Term

Why E*TRADE?

Pros and cons

Rate history for E*TRADE's CD accounts

Current E*TRADE CD Rates

Capital One

Annual percentage yield

Min. deposit to open

Term

Why Capital One?

Pros and cons

Rate history for Capital One's CD accounts

Current Capital One CD Rates

Popular Direct

Annual percentage yield

Min. deposit to open

Term

Why Popular Direct?

Pros and cons

Rate history for Popular Direct's CD accounts

Current Popular Direct CD Rates

Limelight Bank

Annual percentage yield

Min. deposit to open

Term

Why Limelight Bank?

Pros and cons

Rate history for Limelight Bank's CD accounts

Current Limelight Bank CD Rates

Marcus by Goldman Sachs

Annual percentage yield

Min. deposit to open

Term

Why Marcus by Goldman Sachs?

Pros and cons

Current Marcus by Goldman Sachs CD Rates

Bask Bank

Annual percentage yield

Min. deposit to open

Term

Why Bask Bank?

Pros and cons

Rate history for Bask Bank's CD accounts

Current Bask Bank CD Rates

First National Bank of America

Annual percentage yield

Min. deposit to open

Term

Why First National Bank of America?

Pros and cons

Rate history for First National Bank of America's CD accounts

Current First National Bank of America CD Rates

Sallie Mae

Annual percentage yield