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Best CD rates of October 2026 (Up to 4.65%)

Matthew Goldberg Written by
Matthew Goldberg
Karen Bennett Co-authored by
Karen Bennett,
Rhys Subitch Edited by
Rhys Subitch,
Stephen Kates, CFP Reviewed by
Stephen Kates, CFP
Verified Badge IconExpert verified
October 29, 2026

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 4.65% offered by Quorum Federal Credit Union.

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Best CD accounts

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These are sponsored offers rated highly by us for competitive rates, fees, and minimums. .

Capital One CD
Bankrate score: 4.6 out of 5Member FDIC
APY as of 10/29/2026
4.50%
Minimum deposit
$0
Term
11 month
Bankrate score
Bankrate score: 4.6 out of 5
Synchrony Bank CD
Bankrate score: 4.8 out of 5Member FDIC
APY as of 10/29/2026
4.50%
Minimum deposit
$0
Term
15 month
Bankrate score
Bankrate score: 4.8 out of 5
Happen Bank CD
Bankrate score: 4.6 out of 5Member FDIC
APY as of 10/29/2026
4.65%
Minimum deposit
$500
Term
11 month
Bankrate score
Bankrate score: 4.6 out of 5
Quorum Federal Credit Union Certificate Account
Bankrate score: not availableInsured by NCUA
APY as of 10/29/2026
4.50%
Minimum deposit
$100
Term
1 year
Bankrate score
Bankrate score: not available
Quorum Federal Credit Union Certificate Account
Bankrate score: not availableInsured by NCUA
APY as of 10/29/2026
4.40%
Minimum deposit
$100
Term
6 month
Bankrate score
Bankrate score: not available
Alliant Certificate
Bankrate score: 4.5 out of 5Insured by NCUA
APY as of 10/29/2026
4.30%
Minimum deposit
$1,000
Term
1 year
Bankrate score
Bankrate score: 4.5 out of 5

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Find an APY that is 500x higher than big banks

Don't settle for a low APY. Level up your savings with one of Bankrate's top rates.

Member FDIC
APY as of 10/29
0.01%
Min bal for APY
$1,000
Est. earnings
$5
Chase Bank CDRead review
2.5/5Bankrate savings score
Member FDIC
APY as of 10/29
0.03%
Min bal for APY
$1,000
Est. earnings
$15
Bank of America CDRead review
2.7/5Bankrate savings score

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Bankrate’s editorial picks

Our expert’s curated selection of competitive CD offers. Bankrate's editorial team selects these offers based on competitive rates, minimal fees, and overall value to consumers. Our experts regularly review and update these picks to ensure they represent the best options available. How we choose our picks

Quorum Federal Credit Union CD

Insured by NCUABankrate score: 4.5 out of 5
Read review, opens in a new tab
APY as of 10/27/2026
5.00%
Minimum opening balance
$100
Term
5 year

Why Quorum Federal Credit Union:

Anyone can join this credit union and gain access to term savings accounts (another name for CDs) that range from three months to five years. All of the terms pay annual percentage yields that are above the national average, with several terms paying competitive yields.

Popular Direct CD

Member FDICBankrate score: 3.6 out of 5
Read review, opens in a new tab
APY as of 10/27/2026
5.00%
Minimum opening balance
$10,000
Term
5 year

Why Popular Direct:

Popular Direct offers a solid array of CD terms with high yields, ranging from three months to five years. However, the $10,000 minimum deposit required to open one is prohibitively high.

CFG Bank CD

Member FDICBankrate score: 4.4 out of 5
Read review, opens in a new tab
APY as of 10/27/2026
4.82%
Minimum opening balance
$500
Term
2 year

Why CFG Bank:

CFG Bank offers five CD terms, ranging from one to five years. The APYs are solid, and CDs only require a minimum deposit of just $500, making them accessible to most savers. The CDs can be opened online or in a branch.

E*TRADE from Morgan Stanley CD

Member FDICBankrate score: 4.5 out of 5
Read review, opens in a new tab
APY as of 10/27/2026
4.80%
Minimum opening balance
$0
Term
2 year

Why E*TRADE from Morgan Stanley:

E*TRADE from Morgan Stanley offers some of the best CD rates on the market, especially for terms of one year or less. Unlike most competitors offering similarly high rates, it doesn't have a minimum deposit requirement. But its early withdrawal penalties can be hefty (for example, 270 days' worth of interest on a three-year term).

Synchrony Bank CD

Member FDICBankrate score: 4.8 out of 5
Read review, opens in a new tab
APY as of 10/29/2026
4.75%
Minimum opening balance
$0
Term
5 year

Why Synchrony Bank:

Synchrony Bank is an online-only bank that offers many regular CDs ranging from three months to five years. Synchrony stands out because there is no minimum deposit required to open its CDs. Synchrony also has a bump-up CD and IRA CDs.

BTG Pactual Bank CD

Member FDICBankrate score: 4.1 out of 5
Read review, opens in a new tab
APY as of 10/27/2026
4.85%
Minimum opening balance
$500
Term
4 year

Why BTG Pactual Bank:

BTG Pactual, which acquired M.Y. Safra Bank, offers standard CD terms from three months to five years, all with competitive APYs. They require a relatively low minimum opening deposit of $500. The bank also offers a competitive 13-month no-penalty CD.

Rising Bank CD

Member FDICBankrate score: 3.7 out of 5
Read review, opens in a new tab
APY as of 10/29/2026
4.51%
Minimum opening balance
$1,000
Term
15 month

How Bankrate works

Woman looking for rates
01

Compare rates

See savings and CD rates from different banks and credit unions in one place, so you can quickly compare your options.

02

Choose an account

Check the rate, terms and requirements, then pick the account that helps your savings grow faster.

03

Continue to the bank

Click through to the bank or credit union to open your account and start earning interest.

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

Table of contents

Recent news on CD rates

Across common CD terms, top yields have increased since the Federal Reserve’s raised interest rates in September — the first rate hike in more than three years. But shopping around is crucial: with inflation sitting at 3.7% on an annual basis as of September, locking in a CD with a less-than-competitive yield could mean your money is losing purchasing power.

The Federal Reserve held rates steady at its October meeting. The next rate-setting meeting takes place in December, so officials may change rates once more before the end of 2026. When the federal funds rate increases or decreases, competitive banks often follow suit by moving their APYs in the same direction.

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. 

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Do the math before you commit

Even though the rate on a short-term CD may be higher than a long-term one, you’ll earn more in a longer-term CD because you’re letting the compound interest accrue longer. 

Compare top CD rates today by term

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

Caret Down Icon
Institution APY Min. deposit
Bank5 Connect 4.30% APY $500
Popular Direct 4.30% APY $10,000
BTG Pactual Bank 4.10% APY $500
Institution APY Min. deposit
Quorum Federal Credit Union 4.40% APY $100
Happen Bank 4.40% APY $500
Popular Direct 4.35% APY $10,000
Institution APY Min. deposit
BTG Pactual Bank 4.65% APY $500
CFG Bank 4.65% APY $500
Popular Direct 4.60% APY $10,000
Institution APY Min. deposit
BTG Pactual Bank 4.85% APY $500
Popular Direct 4.85% APY $10,000
CFG Bank 4.82% APY $500
Institution APY Min. deposit
Quorum Federal Credit Union 5.00% APY $100
Sallie Mae 5.00% APY $2,500
Popular Direct 5.00% APY $10,000

Note: Annual percentage yields (APYs) shown were updated between Oct. 22 and Oct. 28. 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 Oct 29, according to Bankrate's most recent survey of institutions:

CD term CD national average APY
1 year 2.15%
2 year 1.92%
3 year 1.75%
4 year 1.94%
5 year 1.8%

Expert Insight

National CD APY averages are less than half of some top online banks and credit unions. Getting a great rate doesn't take more than a quick shop around with the knowledge that top rates currently sit above 4%. Big banks rely on the convenience of keeping your money all in one place, but an online bank or credit union will likely give you a much better rate for a little more effort.

Image of Rhys Subitch

Rhys Subitch

Editor, Deposits

Pros and cons of CDs

Pros

  • Checkmark Icon

    Guaranteed rate.

  • Checkmark Icon

    Potentially higher APY than other savings products.

  • Checkmark Icon

    A helpful barrier between you and your savings for future expenses.

  • Checkmark Icon

    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.

Caret Down Icon

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.

Caret Right Icon

Money market account

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

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CD FAQs

How to use CDs to prepare for your next big purchase

Use a CD to save for a down payment

And learn about other ways to save toward a house

Caret Right Icon
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

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Bankrate's CD calculator

Calculate your potential earnings with our CD calculator

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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

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Meet our Bankrate experts

Matthew Goldberg
Written by
Matthew Goldberg Matthew Goldberg Arrow Right Icon
Former Senior Consumer Banking Reporter
Read more from Matthew
Matthew Goldberg is an award-winning writer who has been in financial services for more than 14 years. He uses his banking experience to help inform readers as they make important personal finance decisions.
CD Icon
Credentials
  • Property (Colorado)
  • Life (Colorado)
Ribbon Icon
Expertise
  • Consumer banking
  • Savings accounts and CDs
Karen Bennett
Co-written by
Karen Bennett Karen Bennett Arrow Right Icon
Senior banking and home lending reporter
Read more from Karen
Karen Bennett is a senior consumer banking reporter at Bankrate where she uses her years of banking and personal finance experience to help inform readers about money-related decisions. She’s been a reporter at Bankrate since 2021.
Ribbon Icon
Expertise
  • Consumer banking
  • Savings accounts
Rhys Subitch
Edited by
Rhys Subitch
Editor, Deposits
Stephen Kates, CFP
Reviewed by
Stephen Kates, CFP
Former Bankrate Financial Analyst, Wealth

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. Banks and credit unions receive penalties against their overall scores for each consent decree, penalty in a case brought by a federal regulator or in a certified, federal class-action lawsuit, or adverse federal judgment for harming deposits customers.

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.

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Current CD rates

Stay informed about today's rate environment and what our experts have to say about opening a CD.