Best 1-month CD rates for May 2026

Written by

Karen Bennett

Edited by

Pippin Wilbers

Reviewed by

Robert R. Johnson

Expert verified

Rates updated between May 11 and May 17

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A one-month certificate of deposit (CD) matures in the quick span of just four weeks. Interest rates on these CDs are typically low because banks want account holders to lock their money up for longer periods. Many high-yield savings accounts and money market accounts offer higher annual percentage yields (APYs) than one-month CDs.

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Table of contents

Bankrate's picks for top 1-month CD rates
News about 1-month CD rates
Pros and cons of 1-month CDs
Alternatives to a 1-month CD
Research methodology

Bankrate’s picks for top 1-month CD rates

Note: Annual percentage yields (APYs) shown are as of June 9. 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.

SchoolsFirst Federal Credit Union

4.7

Overview

SchoolsFirst Federal Credit Union offers an unusually generous rate for its one-month share certificate (the credit union term for certificates of deposit). In addition to the one-month CD, SchoolsFirst features terms from three months up to five years. Many of the certificates at this credit union earn strong yields.

SchoolsFirst primarily serves members of educational communities in California and their families, so, unfortunately, access to this great rate is limited.

Read Bankrate's Expert SchoolsFirst Federal Credit Union Review

2.95% APY

$500 minimum deposit

Texas Capital Bank

3.7

Overview

Texas Capital Bank offers a one-month CD with a 1.00% APY — which is low, but good for a one-month CD. A $1,000 minimum deposit is required. If you can afford to keep your money tied up a little longer, Texas Capital has a three-month CD that pays nearly four times as much as the one-month CD.

In addition to these terms, Texas Capital Bank offers CD terms ranging from six months to two years.

Read Bankrate's Expert Texas Capital Bank Review

1% APY

$1,000 minimum deposit

Huntington National Bank

2.6

Overview

Huntington National Bank offers a one-month CD that pays 0.25% APY. To open the certificate, you’ll need a minimum deposit of $1,000. That rate is among the best for one-month CDs, but that’s not saying much — you'll easily find savings accounts that offer much higher yields. The bank also pays the same rate on all its other CDs, which go up to six years. It does also offer promotional CDs that feature higher yields, but they’re limited to five and nine months.

Read Bankrate's Expert Huntington National Bank Review

0.25% APY

$1,000 minimum deposit

News about 1-month CD rates

Annual percentage yields (APYs) on CDs and other deposit accounts have been stable in recent months, thanks to the Federal Reserve holding rates steady so far in 2026. When the Fed changes the federal funds rate, APYs on competitive accounts tend to move in the same direction.

That said, rates on various one-month CDs aren’t outpacing inflation, with the Consumer Price Index (CPI) having risen 3.8% year-over-year as of April. This means your money loses purchasing power while locked into a CD earning below 3.80% APY, so it pays to look into higher-earning alternatives.

It’s worth noting that such short-terms CDs tend to offer lower APYs than other CD terms. For example, the best six-month CDs pay rates around 4% APY.

You can also opt for a high-yield savings account if you want easy access to your funds without penalties. You’d earn yields around 4%, and though APYs on savings accounts are variable and can change at any time, a precipitous drop from 4% to 1% — the highest rate on this list not from a restricted-membership credit union — in one month is unlikely.

You’ll earn a higher rate on your money in a high-yield savings account but if you want the barrier of a penalty between you and your money, a one-month CD could be worth the interest rate trade-off.
Yuliya Goldshteyn, deposits editor at Bankrate

Pros and cons of a 1-month CD

Pros

Your money isn’t locked away for long.
You earn a guaranteed APY during the CD’s term.
You have flexibility to either keep your money in the CD for another term when it matures or withdraw it when the term ends.

Cons

You’ll likely incur an early withdrawal penalty if you take money out before the term ends.
A savings account or a no-penalty CD may earn a higher APY than a one-month CD.
The APYs might not be competitive compared with longer-term CDs.

Alternatives to a 1-month CD

Three-month CDs provide a guaranteed APY for slightly longer, with significantly higher rates. If you can wait the extra two months to withdraw, they're straightforwardly a better option.
You can also likely find a better rate on a longer-term no-penalty CD; you can withdraw your money (usually after one week) without paying a penalty and losing interest.
Consider a high-yield savings account if you’re looking for a much higher APY and the freedom to withdraw your funds anytime without penalty.
Top money market account rates are well above those of one-month CDs. You also won’t be charged an early withdrawal fee for access to the funds, and some come with check-writing privileges and/or a debit card.

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Meet our Bankrate experts

Written by

Karen Bennett Karen Bennett

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 one-month CD rates, we regularly survey one-month CD offerings from the banks and credit unions that offer this CD term.

The banks and credit unions on this page are selected based on their current APY for a one-month CD. 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

Best 1-month CD rates for May 2026

How Bankrate works

How Bankrate works

Compare rates

Choose an account

Continue to the bank

Bankrate’s picks for top 1-month CD rates

SchoolsFirst Federal Credit Union

Overview

Texas Capital Bank

Overview

Huntington National Bank

Overview

News about 1-month CD rates

Pros and cons of a 1-month CD

Pros

Cons

Alternatives to a 1-month CD

3-month CD

No-penalty CDs

High-yield savings accounts

Money market accounts

Next steps

Meet our Bankrate experts

Research methodology

Banks we monitor