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 No-penalty CDs are the exception, though they may also impose a penalty if the funds are withdrawn during the first six or seven days after the account is opened.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.

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.

Best CD rates of July 2026 (Up to 4.40%)

Written by

and

Edited by

Reviewed by

Expert verified

Updated July 31, 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 4.40% offered by Merrick 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 July 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

E*TRADE

4.5 Bankrate CD score

Annual percentage yield

4.05% – 4.35%
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 competitive rates. And a $0 minimum deposit requirement makes this a suite of CDs that are accessible to most savers.

Pros

Above-average rates on all CDs.
No minimum balance requirements.
Rate guarantee for 10 days.
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 4.15% APY No minimum

2 years 4.30% APY No minimum

3 years 4.35% APY No minimum

5 years 4.35% 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 7/28/2026. APY last updated 7/28/2026	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.
07/21/2026	4.35%	1.72%
07/07/2026	4.10%	1.72%
05/19/2026	4.10%	1.71%
05/05/2026	3.85%	1.71%
04/28/2026	3.85%	1.69%
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%
08/05/2025	4.20%	1.70%

Term	APY	Min. deposit
6 months	4.05% APY	No minimum
1 year	4.15% APY	No minimum
2 years	4.30% APY	No minimum
3 years	4.35% APY	No minimum
5 years	4.35% APY	No minimum

Read review

Sallie Mae

4.2 Bankrate CD score

Annual percentage yield

3.20% – 4.35%
Min. deposit to open

$2,500
Term

6 months - 5 years

Why Sallie Mae?

Sallie Mae offers 11 terms of CDs from six months to five years, 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

Rates are solid across all terms.
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	3.20% APY	$2,500
9 months	3.20% APY	$2,500
11 months	4.05% APY	$2,500
1 year	4.15% APY	$2,500
13 months	4.10% APY	$2,500
15 months	4.20% APY	$2,500
18 months	4.25% APY	$2,500
2 years	4.25% APY	$2,500
30 months	4.25% APY	$2,500
3 years	4.35% APY	$2,500
5 years	4.35% APY	$2,500

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 7/30/2026. APY last updated 7/30/2026	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.
07/31/2026	4.35%	1.72%
07/16/2026	4.20%	1.72%
07/07/2026	4.15%	1.72%
06/18/2026	4.15%	1.71%
05/06/2026	4.00%	1.71%
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%
08/06/2025	4.00%	1.70%

Read review

First National Bank of America

4.3 Bankrate CD score

Annual percentage yield

3.60% – 4.25%
Min. deposit to open

$1,000
Term

3 months - 10 years

Why First National Bank of America?

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

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	3.20% APY	$2,500
9 months	3.20% APY	$2,500
11 months	4.05% APY	$2,500
1 year	4.15% APY	$2,500
13 months	4.10% APY	$2,500
15 months	4.20% APY	$2,500
18 months	4.25% APY	$2,500
2 years	4.25% APY	$2,500
30 months	4.25% APY	$2,500
3 years	4.35% APY	$2,500
5 years	4.35% APY	$2,500

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 7/29/2026. APY last updated 7/29/2026	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.
06/09/2026	4.25%	--
05/26/2026	4.30%	--
05/13/2026	4.20%	--
04/14/2026	4.00%	--
03/17/2026	3.80%	--

Term	APY	Min. deposit
3 months	3.60% APY	$1,000
6 months	3.85% APY	$1,000
1 year	3.95% APY	$1,000
13 months	4.05% APY	$1,000
18 months	3.80% APY	$1,000
2 years	4.00% APY	$1,000
3 years	4.00% APY	$1,000
4 years	4.00% APY	$1,000
5 years	4.00% APY	$1,000
6 years	4.00% APY	$1,000
7 years	4.05% APY	$1,000
8 years	4.05% APY	$1,000
9 years	4.05% APY	$1,000
10 years	4.25% APY	$1,000

Read review

Bread Savings

4.1 Bankrate CD score

Annual percentage yield

3.80% – 4.25%
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 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

Competitive 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	3.20% APY	$2,500
9 months	3.20% APY	$2,500
11 months	4.05% APY	$2,500
1 year	4.15% APY	$2,500
13 months	4.10% APY	$2,500
15 months	4.20% APY	$2,500
18 months	4.25% APY	$2,500
2 years	4.25% APY	$2,500
30 months	4.25% APY	$2,500
3 years	4.35% APY	$2,500
5 years	4.35% APY	$2,500

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 7/21/2026. APY last updated 7/21/2026	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.
07/07/2026	4.00%	1.72%
05/26/2026	4.00%	1.71%
05/05/2026	3.85%	1.71%
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%

Term	APY	Min. deposit
3 months	3.80% APY	$1,500
6 months	4.00% APY	$1,500
6 months	4.00% APY	$1,500
9 months	4.25% APY	$1,500
1 year	4.15% APY	$1,500
18 months	4.25% APY	$1,500
2 years	4.25% APY	$1,500
3 years	4.25% APY	$1,500
4 years	4.25% APY	$1,500
5 years	4.25% APY	$1,500

Read review

Happen Bank

4.5 Bankrate CD score

Annual percentage yield

3.40% – 4.20%
Min. deposit to open

$500
Term

6 months - 5 years

Why Happen Bank?

Happen Bank, formerly LendingClub, 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.

Happen Bank

APY

National average APY

Term length

How do we get this data?

Term	APY	Min. deposit
6 months	3.20% APY	$2,500
9 months	3.20% APY	$2,500
11 months	4.05% APY	$2,500
1 year	4.15% APY	$2,500
13 months	4.10% APY	$2,500
15 months	4.20% APY	$2,500
18 months	4.25% APY	$2,500
2 years	4.25% APY	$2,500
30 months	4.25% APY	$2,500
3 years	4.35% APY	$2,500
5 years	4.35% APY	$2,500

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.	Happen Bank APY APY last updated 7/21/2026. APY last updated 7/21/2026	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.
07/07/2026	3.40%	1.72%
05/05/2026	3.40%	1.71%
03/03/2026	3.40%	1.69%
01/06/2026	3.40%	1.68%
11/04/2025	3.40%	1.69%
08/05/2025	3.40%	1.70%

Term	APY	Min. deposit
6 months	3.90% APY	$500
11 months	4.20% 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

Read review

TAB Bank

4.4 Bankrate CD score

Annual percentage yield

4.00% – 4.20%
Min. deposit to open

$1,000
Term

1 year - 5 years

Why TAB Bank?

TAB Bank offers six CD terms ranging from one year to five years, which makes it a good option for opening up a CD ladder. Rates on all the terms offered are competitive, with the highest APYs offered for the longer-term CDs. You'll need $1,000 to open a CD with TAB.

Pros

Yields are highly competitive across all terms.
Reasonable early withdrawal penalty.
Cons

Doesn’t offer terms shorter than one year.
No bump-up or no-penalty 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.

TAB Bank

APY

National average APY

Term length

How do we get this data?

Term	APY	Min. deposit
6 months	3.20% APY	$2,500
9 months	3.20% APY	$2,500
11 months	4.05% APY	$2,500
1 year	4.15% APY	$2,500
13 months	4.10% APY	$2,500
15 months	4.20% APY	$2,500
18 months	4.25% APY	$2,500
2 years	4.25% APY	$2,500
30 months	4.25% APY	$2,500
3 years	4.35% APY	$2,500
5 years	4.35% APY	$2,500

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.	TAB Bank APY APY last updated 7/28/2026. APY last updated 7/28/2026	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.
07/07/2026	4.20%	1.72%
05/26/2026	4.20%	1.71%
05/05/2026	3.75%	1.71%
03/03/2026	3.75%	1.69%
01/06/2026	3.75%	1.68%
11/04/2025	3.75%	1.69%
08/05/2025	3.75%	1.70%

Term	APY	Min. deposit
1 year	4.00% APY	$1,000
18 months	4.05% APY	$1,000
2 years	4.10% APY	$1,000
3 years	4.15% APY	$1,000
4 years	4.15% APY	$1,000
5 years	4.20% APY	$1,000

Read review

Popular Direct

3.5 Bankrate CD score

Annual percentage yield

3.30% – 4.20%
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, but it does offer a savings account with a competitive rate.

Pros

Consistently offers competitive rates across its CDs.
Cons

Requires a $10,000 minimum deposit to open.
Doesn't offer specialty CDs like bump-up or no-penalty CDs.
Fairly 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	3.20% APY	$2,500
9 months	3.20% APY	$2,500
11 months	4.05% APY	$2,500
1 year	4.15% APY	$2,500
13 months	4.10% APY	$2,500
15 months	4.20% APY	$2,500
18 months	4.25% APY	$2,500
2 years	4.25% APY	$2,500
30 months	4.25% APY	$2,500
3 years	4.35% APY	$2,500
5 years	4.35% APY	$2,500

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 7/28/2026. APY last updated 7/28/2026	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.
07/07/2026	3.30%	1.72%
05/05/2026	3.30%	1.71%
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%

Term	APY	Min. deposit
3 months	3.90% APY	$10,000
6 months	4.15% APY	$10,000
1 year	4.17% APY	$10,000
18 months	4.20% 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

CFG Bank

4.4 Bankrate CD score

Annual percentage yield

4.05% – 4.17%
Min. deposit to open

$500
Term

1 year - 5 years

Why CFG Bank?

CFG Bank offers just four CD terms, ranging from one to five years. The APYs are solid, with the highest rates offered on 12- and 18-month terms. Moreover, the CDs require a minimum deposit of just $500, making them accessible to most savers. The CDs can be opened online or in a branch.

Pros

Interest rates are competitive.
Minimum deposit requirements are low.
Cons

Only four terms of CDs are offered.
No specialty CD options 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.

CFG Bank

APY

National average APY

Term length

How do we get this data?

Term APY Min. deposit

1 year 4.15% APY $500

18 months 4.17% APY $500

3 years 4.05% APY $500

5 years 4.05% 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.	CFG Bank APY APY last updated 7/29/2026. APY last updated 7/29/2026	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.
07/15/2026	4.05%	1.72%
07/08/2026	3.35%	1.72%
05/06/2026	3.35%	1.71%
03/04/2026	3.35%	1.69%
01/06/2026	3.35%	1.68%
11/18/2025	3.35%	1.69%
11/12/2025	3.50%	1.69%
11/03/2025	3.60%	1.69%
09/30/2025	3.60%	1.70%
07/31/2025	3.65%	1.70%

Term	APY	Min. deposit
1 year	4.15% APY	$500
18 months	4.17% APY	$500
3 years	4.05% APY	$500
5 years	4.05% APY	$500

Read review

Synchrony Bank

4.8 Bankrate CD score

Annual percentage yield

0.25% – 4.15%
Min. deposit to open

$0
Term

3 months - 5 years

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 no-penalty CD, bump-up CD and IRA CDs.

Pros

Many CD terms available.
Competitive yields for most terms.
No minimum deposit required to open a CD.
Cons

Single no-penalty CD has a low rate.

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.

Synchrony Bank

APY

National average APY

Term length

How do we get this data?

Term	APY	Min. deposit
6 months	3.20% APY	$2,500
9 months	3.20% APY	$2,500
11 months	4.05% APY	$2,500
1 year	4.15% APY	$2,500
13 months	4.10% APY	$2,500
15 months	4.20% APY	$2,500
18 months	4.25% APY	$2,500
2 years	4.25% APY	$2,500
30 months	4.25% APY	$2,500
3 years	4.35% APY	$2,500
5 years	4.35% APY	$2,500

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.	Synchrony Bank APY APY last updated 7/28/2026. APY last updated 7/28/2026	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.
07/07/2026	3.75%	1.72%
05/05/2026	3.75%	1.71%
03/04/2026	3.75%	1.69%
01/06/2026	3.75%	1.68%
11/18/2025	3.75%	1.69%
11/04/2025	4.00%	1.69%
09/30/2025	4.00%	1.70%
09/29/2025	4.15%	1.70%

Term	APY	Min. deposit
3 months	0.25% APY	No minimum
6 months	4.00% APY	No minimum
9 months	3.80% APY	No minimum
1 year	4.00% APY	No minimum
14 months	4.15% APY	No minimum
16 months	4.10% APY	No minimum
18 months	3.80% APY	No minimum
2 years	3.50% APY	No minimum
3 years	3.60% APY	No minimum
4 years	3.50% APY	No minimum
5 years	3.75% APY	No minimum

Read review

Quorum Federal Credit Union

3.8 Bankrate CD score

Annual percentage yield

1.75% – 4.15%
Min. deposit to open

$100
Term

3 months - 5 years

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 really competitive yields. Larger deposits are rewarded with a higher yield, as deposits of $100,000 or more earn an additional 0.10% APY for qualifying terms.

Pros

The accounts require a relatively standard minimum deposit to open.
Deposits above $100,000 earn higher yields for qualifying terms..
A handful of terms offer highly competitive yields.
Cons

Not all the terms are highly competitive. If you want to build a CD ladder, you can find banks that offer higher rates across more terms.

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.

Quorum Federal Credit Union

APY

National average APY

Term length

How do we get this data?

Term	APY	Min. deposit
6 months	3.20% APY	$2,500
9 months	3.20% APY	$2,500
11 months	4.05% APY	$2,500
1 year	4.15% APY	$2,500
13 months	4.10% APY	$2,500
15 months	4.20% APY	$2,500
18 months	4.25% APY	$2,500
2 years	4.25% APY	$2,500
30 months	4.25% APY	$2,500
3 years	4.35% APY	$2,500
5 years	4.35% APY	$2,500

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.	Quorum Federal Credit Union APY APY last updated 7/28/2026. APY last updated 7/28/2026	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.
07/07/2026	4.15%	1.72%
06/09/2026	4.15%	1.71%
05/05/2026	3.50%	1.71%
03/03/2026	3.50%	1.69%
01/06/2026	3.50%	1.68%
11/04/2025	3.50%	1.69%
08/05/2025	3.50%	1.70%

Term	APY	Min. deposit
3 months	1.75% APY	$100
6 months	2.25% APY	$100
1 year	2.50% APY	$100
2 years	3.00% APY	$100
3 years	3.00% APY	$100
4 years	4.15% APY	$100
5 years	4.15% APY	$100

Read review

BTG Pactual Bank

4.1 Bankrate CD score

Annual percentage yield

3.35% – 4.15%
Min. deposit to open

$500
Term

3 months - 5 years

Why BTG Pactual Bank?

BTG Pactual’s sole U.S. branch is located in New York City, but it offers some online accounts nationwide, including its CDs. The standard CD terms range from three months to five years. They all earn competitive APYs and require a relatively low minimum opening deposit. You can also open a high-yield no-penalty CD, but it requires a larger minimum deposit and money that’s new to the bank.

Pros

All the online CDs earn competitive APYs.
Standard online CDs have a low minimum opening deposit of $500.
The 13-month no-penalty CD earns a decent yield.
Cons

High minimum deposit of $5,000 for no-penalty CD.

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.

BTG Pactual Bank

APY

National average APY

Term length

How do we get this data?

Term	APY	Min. deposit
6 months	3.20% APY	$2,500
9 months	3.20% APY	$2,500
11 months	4.05% APY	$2,500
1 year	4.15% APY	$2,500
13 months	4.10% APY	$2,500
15 months	4.20% APY	$2,500
18 months	4.25% APY	$2,500
2 years	4.25% APY	$2,500
30 months	4.25% APY	$2,500
3 years	4.35% APY	$2,500
5 years	4.35% APY	$2,500

Term	APY	Min. deposit
3 months	3.35% APY	$500
6 months	4.00% APY	$500
9 months	4.10% APY	$500
1 year	4.15% APY	$500
18 months	4.10% APY	$500
2 years	4.15% APY	$500
3 years	4.15% APY	$500
4 years	4.15% APY	$500
5 years	4.15% APY	$500

Read review

Limelight Bank

4.1 Bankrate CD score

Annual percentage yield

3.30% – 4.15%
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	3.20% APY	$2,500
9 months	3.20% APY	$2,500
11 months	4.05% APY	$2,500
1 year	4.15% APY	$2,500
13 months	4.10% APY	$2,500
15 months	4.20% APY	$2,500
18 months	4.25% APY	$2,500
2 years	4.25% APY	$2,500
30 months	4.25% APY	$2,500
3 years	4.35% APY	$2,500
5 years	4.35% APY	$2,500

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 7/28/2026. APY last updated 7/28/2026	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.
07/07/2026	3.30%	1.72%
05/05/2026	3.30%	1.71%
03/03/2026	3.30%	1.69%
02/24/2026	3.30%	1.68%

Term	APY	Min. deposit
6 months	4.15% APY	$1,000
1 year	4.15% APY	$1,000
18 months	4.10% APY	$1,000
2 years	4.05% APY	$1,000
3 years	3.65% APY	$1,000
5 years	3.30% APY	$1,000

Read review

CIBC Bank USA

3.7 Bankrate CD score

Annual percentage yield

3.00% – 4.15%
Min. deposit to open

$1,000
Term

6 months - 30 months

Why CIBC Bank USA?

CIBC Bank USA offers seven online-only CDs, called Agility CDs, with terms ranging from six to 30 months. Each requires a $1,000 minimum deposit and most have competitive APYs. The withdrawal penalty for CIBC's CDs is one of the lowest around: All the Agility CDs have a penalty of 30 days of simple interest. Comparatively, other banks may charge 180 days or more of interest for a two-year CD.

Pros

Most CDs earn competitive rates.
The early withdrawal penalty is only 30 days worth of interest.
Cons

Limited selection of CD terms.

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.

CIBC Bank USA

APY

National average APY

Term length

How do we get this data?

Term	APY	Min. deposit
6 months	3.20% APY	$2,500
9 months	3.20% APY	$2,500
11 months	4.05% APY	$2,500
1 year	4.15% APY	$2,500
13 months	4.10% APY	$2,500
15 months	4.20% APY	$2,500
18 months	4.25% APY	$2,500
2 years	4.25% APY	$2,500
30 months	4.25% APY	$2,500
3 years	4.35% APY	$2,500
5 years	4.35% APY	$2,500

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.	CIBC Bank USA APY APY last updated 7/28/2026. APY last updated 7/28/2026	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.
04/30/2026	3.00%	--
08/05/2025	3.01%	--

Term	APY	Min. deposit
6 months	3.56% APY	$1,000
9 months	4.00% APY	$1,000
1 year	4.15% APY	$1,000
18 months	4.00% APY	$1,000
2 years	3.00% APY	$1,000
30 months	3.00% APY	$1,000

Recent news on CD rates

CD rates remain high, for now. The highest CD rates right now, according to Bankrate’s analysis, are mostly found on short-term CDs of five months to twelve months. Unfortunately, with inflation sitting at 3.5% on an annual basis as of June, that doesn't mean as much as it used to. Right now you can protect your purchasing power by storing your savings, but inflation has outpaced CD rates in the recent past.

CD rates 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.

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.

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.

Institution	APY	Min. deposit
Bask Bank	3.95% APY	$1,000
Popular Direct	3.90% APY	$10,000
Texas Capital Bank	3.80% APY	$1,000

Institution	APY	Min. deposit
Limelight Bank	4.15% APY	$1,000
Popular Direct	4.15% APY	$10,000
E*TRADE	4.05% APY	No minimum

Institution	APY	Min. deposit
Popular Direct	4.17% APY	$10,000
E*TRADE	4.15% APY	No minimum
Barclays	4.15% APY	No minimum

Institution	APY	Min. deposit
E*TRADE	4.35% APY	No minimum
Sallie Mae	4.35% APY	$2,500
Suncoast Credit Union	4.25% APY	$500

Institution	APY	Min. deposit
E*TRADE	4.35% APY	No minimum
Sallie Mae	4.35% APY	$2,500
Bread Savings	4.25% APY	$1,500

Note: Annual percentage yields (APYs) shown were updated between July 24 and July 30. 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 Jul 31, according to Bankrate's most recent survey of institutions:

CD term	CD national average APY
1 year	2.01%
2 year	1.79%
3 year	1.67%
4 year	1.83%
5 year	1.73%

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

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 around 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.

Rhys Subitch

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.

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.
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.

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

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, Happen Bank, Huntington National Bank, Jenius Bank, KeyBank, Lake Michigan Credit Union, 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 July 2026 (Up to 4.40%)

Only the top 10% of banks make this list

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Best CD rates from top banks for July 2026

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

Sallie Mae

Annual percentage yield

Min. deposit to open

Term

Why Sallie Mae?

Pros and cons

Rate history for Sallie Mae's CD accounts

Current Sallie Mae 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

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

Happen Bank

Annual percentage yield

Min. deposit to open

Term

Why Happen Bank?

Pros and cons

Rate history for Happen Bank's CD accounts

Current Happen Bank CD Rates

TAB Bank

Annual percentage yield

Min. deposit to open

Term

Why TAB Bank?

Pros and cons

Rate history for TAB Bank's CD accounts

Current TAB Bank 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

CFG Bank

Annual percentage yield

Min. deposit to open

Term

Why CFG Bank?

Pros and cons

Rate history for CFG Bank's CD accounts

Current CFG Bank CD Rates

Synchrony Bank

Annual percentage yield

Min. deposit to open

Term

Why Synchrony Bank?

Pros and cons

Rate history for Synchrony Bank's CD accounts

Current Synchrony Bank CD Rates