What Is the Best CD Rate Today?
The best CD rate we track today is 4.75% APY on the Barclays 2-year CD, as of Oct 14, 2026. On shorter terms from 6 months to 1 year, the top rates range from 4.00% to 4.50% APY. We check CD rates weekly from each bank’s and credit union’s own rate page, never from a comparison site, and every rate shows the date it was checked.
- The top 12-month CD rate we track today is 4.50% APY at Barclays as of Oct 7, 2026.
- Every rate comes from the institution’s own rate page and carries an as-of date. Rates we cannot re-check within 10 days are removed rather than left to go stale.
- CDs are FDIC- or NCUA-insured up to $250,000 per depositor. MYGAs are backed by the issuing insurer and state guaranty associations instead, and their interest grows tax-deferred.
- We track a select group of banks and credit unions, so treat these as a sample of competitive rates rather than a survey of the whole market.
Best CD Rates by Term
The table below shows the highest standard CD rate we track at each common term, and which institution pays it.
| Term | Top APY | National avg. | Bank | Min deposit | As of |
|---|---|---|---|---|---|
| 3-month | 2.80% APY | 1.13% APY | Ally Bank | None | Oct 12, 2026 |
| 6-month | 4.00% APY | 1.41% APY | Barclays | None | Oct 7, 2026 |
| 9-month | 4.00% APY | – | Ally Bank | None | Oct 12, 2026 |
| 12-month | 4.50% APY | 1.73% APY | Barclays | None | Oct 7, 2026 |
| 18-month | 4.50% APY | – | Barclays | None | Oct 7, 2026 |
| 2-year | 4.75% APY | 1.61% APY | Barclays | None | Oct 7, 2026 |
| 3-year | 4.50% APY | 1.36% APY | Barclays | None | Oct 7, 2026 |
| 4-year | 4.50% APY | 1.28% APY | Barclays | None | Oct 7, 2026 |
| 5-year | 4.75% APY | 1.38% APY | Barclays | None | Oct 7, 2026 |
Standard CD rates for a $25,000 balance, from each institution's own published rates. These are the highest among the institutions AnnuityJournal checks each week, not every bank in the country. A penalty may be imposed for early withdrawal. Verify the current rate with the bank. National average: the FDIC national rate for September 2026, via the Federal Reserve Bank of St. Louis (FRED).
Best 12-Month CD Rates
The best 12-month CD rate we track is 4.50% APY at Barclays as of Oct 7, 2026. A one-year CD is the most common term, which makes it the easiest to compare from bank to bank.
| Rank | Bank | APY | Min deposit | As of |
|---|---|---|---|---|
| 1 | Barclays | 4.50% APY | None | Oct 7, 2026 |
| 2 | Sallie Mae Bank | 4.40% APY | $2,500 | Oct 13, 2026 |
| 3 | Ally Bank | 4.15% APY | None | Oct 12, 2026 |
| 4 | Navy Federal Credit Union | 4.05% APY | $1,000 | Oct 14, 2026 |
| 5 | Capital One, N.A. | 4.00% APY | None | Oct 9, 2026 |
| 6 | American Express National Bank | 3.65% APY | None | Sep 30, 2026 |
| 7 | U.S. Bank | 0.05% APY | $500 | Oct 14, 2026 |
Standard CD rates for a $25,000 balance. These are the highest rates among the institutions AnnuityJournal checks each week, not every bank in the country. A penalty may be imposed for early withdrawal. Verify the current rate with the bank.
Best 18-Month CD Rates
The best 18-month CD rate we track is 4.50% APY at Barclays as of Oct 7, 2026. An 18-month CD sits between the one- and two-year terms, for savers who want a little more time than a year.
| Rank | Bank | APY | Min deposit | As of |
|---|---|---|---|---|
| 1 | Barclays | 4.50% APY | None | Oct 7, 2026 |
| 2 | Sallie Mae Bank | 4.40% APY | $2,500 | Oct 13, 2026 |
| 3 | Ally Bank | 4.25% APY | None | Oct 12, 2026 |
| 4 | Navy Federal Credit Union | 4.10% APY | $1,000 | Oct 14, 2026 |
| 5 | American Express National Bank | 3.65% APY | None | Sep 30, 2026 |
| 6 | Capital One, N.A. | 3.60% APY | None | Oct 9, 2026 |
| 7 | U.S. Bank | 0.05% APY | $500 | Oct 14, 2026 |
Standard CD rates for a $25,000 balance. These are the highest rates among the institutions AnnuityJournal checks each week, not every bank in the country. A penalty may be imposed for early withdrawal. Verify the current rate with the bank.
Best 2-Year CD Rates
The best 2-year CD rate we track is 4.75% APY at Barclays as of Oct 7, 2026. A two-year CD locks your rate for longer, which helps if you expect rates to fall.
| Rank | Bank | APY | Min deposit | As of |
|---|---|---|---|---|
| 1 | Barclays | 4.75% APY | None | Oct 7, 2026 |
| 2 | Sallie Mae Bank | 4.40% APY | $2,500 | Oct 13, 2026 |
| 3 | Navy Federal Credit Union | 3.66% APY | $1,000 | Oct 14, 2026 |
| 4 | American Express National Bank | 3.65% APY | None | Sep 30, 2026 |
| 5 | Capital One, N.A. | 3.50% APY | None | Oct 9, 2026 |
| 6 | U.S. Bank | 0.05% APY | $500 | Oct 14, 2026 |
Standard CD rates for a $25,000 balance. These are the highest rates among the institutions AnnuityJournal checks each week, not every bank in the country. A penalty may be imposed for early withdrawal. Verify the current rate with the bank.
Best 3-Year CD Rates
The best 3-year CD rate we track is 4.50% APY at Barclays as of Oct 7, 2026. A three-year CD keeps your rate fixed for longer, though early withdrawal penalties usually grow with the term.
| Rank | Bank | APY | Min deposit | As of |
|---|---|---|---|---|
| 1 | Barclays | 4.50% APY | None | Oct 7, 2026 |
| 2 | Sallie Mae Bank | 4.45% APY | $2,500 | Oct 13, 2026 |
| 3 | Navy Federal Credit Union | 4.10% APY | $1,000 | Oct 14, 2026 |
| 4 | Ally Bank | 4.00% APY | None | Oct 12, 2026 |
| 5 | Capital One, N.A. | 3.50% APY | None | Oct 9, 2026 |
| 6 | American Express National Bank | 2.25% APY | None | Sep 30, 2026 |
| 7 | U.S. Bank | 0.10% APY | $500 | Oct 14, 2026 |
Standard CD rates for a $25,000 balance. These are the highest rates among the institutions AnnuityJournal checks each week, not every bank in the country. A penalty may be imposed for early withdrawal. Verify the current rate with the bank.
Best 4-Year CD Rates
The best 4-year CD rate we track is 4.50% APY at Barclays as of Oct 7, 2026. Not every bank offers a four-year term, so this ranking can be shorter than the others.
| Rank | Bank | APY | Min deposit | As of |
|---|---|---|---|---|
| 1 | Barclays | 4.50% APY | None | Oct 7, 2026 |
| 2 | Capital One, N.A. | 3.50% APY | None | Oct 9, 2026 |
| 3 | American Express National Bank | 2.25% APY | None | Sep 30, 2026 |
| 4 | U.S. Bank | 0.15% APY | $500 | Oct 14, 2026 |
Standard CD rates for a $25,000 balance. These are the highest rates among the institutions AnnuityJournal checks each week, not every bank in the country. A penalty may be imposed for early withdrawal. Verify the current rate with the bank.
Best 5-Year CD Rates
The best 5-year CD rate we track is 4.75% APY at Barclays as of Oct 7, 2026. A five-year CD is the longest standard term at most banks. A five-year MYGA locks in a rate for the same period, so compare the two in the CD vs. MYGA vs. Treasury table below.
| Rank | Bank | APY | Min deposit | As of |
|---|---|---|---|---|
| 1 | Barclays | 4.75% APY | None | Oct 7, 2026 |
| 2 | Sallie Mae Bank | 4.50% APY | $2,500 | Oct 13, 2026 |
| 3 | Ally Bank | 4.10% APY | None | Oct 12, 2026 |
| 4 | Navy Federal Credit Union | 3.85% APY | $1,000 | Oct 14, 2026 |
| 5 | Capital One, N.A. | 3.60% APY | None | Oct 9, 2026 |
| 6 | American Express National Bank | 3.00% APY | None | Sep 30, 2026 |
| 7 | U.S. Bank | 0.25% APY | $500 | Oct 14, 2026 |
Standard CD rates for a $25,000 balance. These are the highest rates among the institutions AnnuityJournal checks each week, not every bank in the country. A penalty may be imposed for early withdrawal. Verify the current rate with the bank.
CD Rates by Bank
The rankings above use each bank’s standard CD rate for a $25,000 deposit. Each bank page lists every CD type and term, plus early withdrawal penalties and rate history.
- Ally Bank CD rates: an online-only bank with four CD types, including a No Penalty CD, and no minimum deposit.
- American Express CD rates: a single online CD with no minimum deposit and several odd-length terms.
- Barclays CD rates: one online CD with no minimum deposit and terms from six months to five years.
- Navy Federal CD rates: certificates for military members, veterans, Department of Defense employees and their families, insured by the NCUA.
- U.S. Bank CD rates: a national branch bank whose rates vary by location. Its CD Specials are listed on its page and are not part of these rankings.
- Capital One CD rates: a big-brand online CD with no minimum deposit and an 11-month promotional term; standard long-term rates trail the top online banks.
- Sallie Mae Bank CD rates: competitive rates across 11 terms, including unusual lengths like 11 and 13 months, with a $2,500 minimum deposit.
CD vs. MYGA vs. Treasury: Which Pays More?
A five-year CD, a five-year multi-year guaranteed annuity (MYGA) and a five-year Treasury note all lock in a rate for the same period. The table shows what each pays today and what $25,000 would earn. They also differ in how they are insured and taxed.
| Product | Rate/APY | What $25,000 earns over 5 years | Guaranteed by |
|---|---|---|---|
| National average 5-year CD FDIC national rate, September 2026 | 1.38% APY | $1,773 | FDIC or NCUA insurance, up to $250,000 |
| Barclays 5-year CD Best standard CD we track, as of Oct 7, 2026 | 4.75% APY | $6,529 | FDIC insurance, up to $250,000 |
| 5-year MYGA: Knighthead Life Staysail 5 (Simple Interest) Top rate from carriers rated A- or better (AM Best A-) | 6.65% guaranteed | $8,313 | The issuing insurer and state guaranty associations |
| 5-year Treasury Par yield as of Oct 13, 2026 | 5.00% yield | $6,907 | The U.S. government |
MYGAs are not FDIC-insured; they are backed by the issuing insurer and state guaranty associations, up to state limits, and carry surrender charges for early withdrawals. Earnings are estimates before taxes: the rate compounded once a year over the term with interest left in the account (simple interest where noted). The national average and Treasury figures are treated the same way. A penalty may be imposed for early CD withdrawal. This comparison is educational, not a recommendation; verify every rate with the provider.
A CD usually makes more sense for money you need back on a short, known timeline, or when you value the simplicity of FDIC or NCUA insurance. A MYGA usually makes more sense for longer horizons, larger balances where tax deferral matters, or savings you may later turn into retirement income.
For a fuller comparison, including surrender charges, see MYGA vs. CD. To spread money across several maturities, see annuity laddering strategy.
Will CD Rates Go Down?
No one can say for certain, but CD rates follow the Federal Reserve’s target rate. When the Fed cuts, most banks lower CD rates within a few weeks, and online banks usually move first. When it raises rates, CD rates tend to climb.
If you expect rates to fall, a longer term locks in today’s rate. If you expect them to rise, a shorter term or a no-penalty CD keeps you flexible. Insurers set MYGA rates in the same environment but on their own schedule; see how annuity rates are set and current annuity rate trends.
How to Choose a CD
Start with where you want to bank. A branch bank lets you open and manage a CD in person, while online banks often pay more and carry the same FDIC insurance. Then match the term to when you will need the money, since breaking a CD early usually costs a penalty.
Types of CDs
- Standard CD. A fixed rate for a fixed term, with a penalty for early withdrawal.
- No-penalty CD. Usually a shorter term and a slightly lower rate, in exchange for penalty-free access to the full balance.
- Bump-up CD. Lets you request a rate increase during the term if the bank’s rates rise, in exchange for a lower starting rate.
- Step-up CD. The rate rises on a preset schedule rather than by request.
- Jumbo CD. Requires a larger deposit, often $100,000 or more, sometimes for a higher rate.
- Brokered CD. Bought through a brokerage account rather than from the bank. It can be sold before maturity, but its price moves with interest rates.
- Add-on CD. Accepts additional deposits during the term.
Early Withdrawal Penalties
Most CDs charge a penalty for withdrawing before the term ends, usually a set number of days or months of interest. Penalties vary widely by bank and term, so always check the penalty schedule before you open a CD. Each bank page above shows its full schedule.
Taxes
CD interest is taxed as ordinary income in the year it is earned, even if it stays in the account until maturity. Banks report it on Form 1099-INT. MYGA interest, by contrast, grows tax-deferred until it is withdrawn.
FDIC and NCUA Insurance
CDs at FDIC-member banks and NCUA-insured credit unions are insured up to $250,000 per depositor, per ownership category, per institution. See the FDIC’s guide to deposit insurance and the NCUA’s share insurance coverage for how the limits apply. MYGAs are not FDIC- or NCUA-insured; they are backed by the issuing insurer’s claims-paying ability and by state guaranty associations up to state limits.
CD Rate FAQ
What is a CD and how does it work?
A certificate of deposit (CD) is a savings account that pays a fixed rate in exchange for leaving your money with a bank or credit union for a set term. You generally cannot add to or withdraw from it before the term ends without a penalty.
Are CDs FDIC-insured?
Yes, at FDIC-member banks, up to $250,000 per depositor, per ownership category, per institution. CDs at credit unions carry equivalent NCUA insurance.
Can you lose money in a CD?
Not from a bank failure, as long as you stay within the insurance limits. You can lose part of your earnings, and occasionally principal, if an early withdrawal penalty exceeds the interest you have earned.
What happens if I withdraw from a CD early?
Most CDs charge a penalty, usually a set number of months or days of interest that varies by bank and term. No-penalty CDs are the exception, typically at a lower rate.
How much can $25,000 earn in a CD right now?
The CD vs. MYGA vs. Treasury table above shows what $25,000 earns over five years at the top CD, MYGA and Treasury rates we track.
CD vs. high-yield savings account: which is better?
A CD locks in today’s rate for the full term, which helps if rates fall and costs you if they rise. A high-yield savings account’s rate can change at any time, but you can withdraw without a penalty, which suits money you may need on short notice.
CD vs. MYGA: which pays more?
It depends on the term and the day you compare them, so check the CD vs. MYGA vs. Treasury table above for current numbers. MYGAs are backed by the issuing insurer and state guaranty associations rather than FDIC insurance, and their interest grows tax-deferred, while CD interest is taxed each year.
Rates change without notice, so confirm current CD rates with the bank or credit union before opening an account.
