Best CD Rates and Certificate of Deposit Promotions (2026)

Compare the Highest CD Rates From Banks and Credit Unions Nationwide

Certificates of deposit (CDs) offer guaranteed returns at fixed interest rates for a set term, making them one of the safest places to park money you will not need immediately. The best CD rates in 2026 come from online banks and credit unions that compete aggressively for deposits by offering above-market APY rates and promotional CD specials.

This page tracks the highest CD rates across all major terms — from 3-month CDs to 5-year CDs — plus no-penalty CDs, bump-up CDs, and limited-time promotional offers.

How CDs Work

When you open a CD, you agree to deposit a fixed amount for a specific term (e.g., 12 months). In return, the bank guarantees a fixed APY rate for the entire term. At maturity, you receive your original deposit plus all earned interest.

Key CD Terms to Understand

APY (Annual Percentage Yield) — The annual return including compounding. Always compare APY, not the nominal interest rate
Term length — The period your money is locked up, typically 3 months to 5 years
Minimum deposit — The amount required to open the CD, ranging from $0 to $10,000+
Early withdrawal penalty (EWP) — The fee charged if you withdraw money before the CD matures. Typically 60 to 365 days of interest depending on the term
Auto-renewal — Most CDs automatically renew at maturity for the same term at the then-current rate. You usually have a 7 to 14 day grace period to withdraw or change terms

Best CD Rates by Term Length

Best 3-Month CD Rates

Short-term CDs are ideal when you want a guaranteed rate but may need the money relatively soon. Three-month CDs are a low-commitment way to earn more than a savings account while keeping your money accessible in the near term.

Best 6-Month CD Rates

Six-month CDs often hit a sweet spot between rate and flexibility. They typically offer higher rates than 3-month CDs without locking your money up for a full year.

Best 1-Year CD Rates

One-year CDs are the most popular term and often have the most competitive rates. Many banks use 12-month CDs as promotional products with above-market APYs to attract new deposits.

Best 18-Month to 2-Year CD Rates

Medium-term CDs are useful when you have a known timeline — saving for a down payment, a major purchase, or an upcoming expense 1 to 2 years out.

Best 3-Year to 5-Year CD Rates

Long-term CDs lock in today’s rate for years. They make sense when current rates are high and expected to decline, or when you want certainty for a portion of your savings. The trade-off is reduced flexibility if rates rise further.

Special CD Types

No-Penalty CDs

No-penalty CDs allow you to withdraw your full balance before maturity without paying an early withdrawal penalty. The trade-off is a slightly lower APY compared to traditional CDs of the same term. No-penalty CDs are excellent when you want a rate guarantee but are not sure you can commit for the full term. Ally Bank, Marcus by Goldman Sachs, and several other online banks offer competitive no-penalty CD products.

Bump-Up CDs

Bump-up CDs (also called raise-your-rate CDs) allow you to request a one-time rate increase during the term if the bank’s CD rates go up. This protects you against missing out on higher rates in a rising-rate environment. The initial rate is usually lower than a standard CD of the same term.

Jumbo CDs

Jumbo CDs require a minimum deposit of $100,000 or more and sometimes offer a slightly higher APY than standard CDs. The rate premium for jumbo CDs has narrowed in recent years as online banks offer competitive rates at lower minimums.

CD Laddering Strategy

A CD ladder is a strategy where you divide your money across CDs with staggered maturity dates. For example, you might split $25,000 across five CDs maturing at 1, 2, 3, 4, and 5 years. As each CD matures, you reinvest it at the longest term in your ladder. This gives you regular access to a portion of your money while capturing the higher rates of longer-term CDs.

Benefits of CD Laddering

Regular liquidity as CDs mature at different intervals
Higher average rates than keeping all money in short-term CDs
Protection against rate fluctuations in either direction
A disciplined savings structure that discourages premature withdrawals

CDs vs. High-Yield Savings Accounts

Both CDs and HYSAs are FDIC-insured and low-risk. The main differences:

Rate guarantee — CD rates are fixed for the term; HYSA rates can change at any time
Liquidity — HYSAs allow withdrawals anytime; CDs charge penalties for early withdrawal (except no-penalty CDs)
Current rate comparison — When CD rates are higher than HYSA rates, CDs win. When rates are expected to rise, HYSAs give you flexibility to benefit from increases

Many people use both: a HYSA for their emergency fund and liquid savings, and CDs for money they can afford to lock up for a guaranteed return.

Tips for Getting the Best CD Rates

Compare online banks and credit unions — They consistently beat national banks on CD rates
Check for promotional rates — Banks frequently offer limited-time CD specials at above-market rates
Consider no-penalty CDs if you are unsure about the term commitment
Watch the maturity date — Set a reminder so you can decide whether to renew, withdraw, or transfer at maturity before the auto-renewal grace period expires
Factor in early withdrawal penalties — Before opening a long-term CD, understand the penalty in case you need the money early