Today's Best CD Rates
Are you looking for the best CD rates but feeling overwhelmed by all of the options out there? Look no further! We’ve compiled the best CD rates from all around the web to make your research process easy.
Best CD Rates by Term
| Institution | APY | Min. Deposit | Insurance |
|---|---|---|---|
| 3 Months | |||
| America First FCU | 3.90% | $500 | NCUA |
| Popular Direct | 3.90% | $10,000 | FDIC |
| 6 Months | |||
| Newtek Bank | 4.10% | $2,500 | FDIC |
| Popular Direct | 4.10% | $10,000 | FDIC |
| Limelight Bank | 4.08% | $1,000 | FDIC |
| E*TRADE | 4.05% | $0 | FDIC |
| Marcus by Goldman Sachs | 4.00% | $500 | FDIC |
| Colorado Federal Savings Bank | 4.00% | $5,000 | FDIC |
| America First FCU | 3.95% | $500 | NCUA |
| LendingClub | 3.90% | $500 | FDIC |
| Capital One | 3.20% | $0 | FDIC |
| 7 Months | |||
| Salem Five Direct | 4.10% | $10,000 | FDIC |
| First National Bank of America | 4.05% | $1,000 | FDIC |
| 9 Months | |||
| Newtek Bank | 4.20% | $2,500 | FDIC |
| Salem Five Direct | 3.50% | $10,000 | FDIC |
| Capital One | 3.20% | $0 | FDIC |
| 11 Months | |||
| LendingClub | 4.15% | $500 | FDIC |
| Capital One | 4.10% | $0 | FDIC |
| Sallie Mae | 4.00% | $2,500 | FDIC |
| 1 Year | |||
| E*TRADE | 4.10% | $0 | FDIC |
| Popular Direct | 4.05% | $10,000 | FDIC |
| Newtek Bank | 4.00% | $2,500 | FDIC |
| Bask Bank | 4.00% | $1,000 | FDIC |
| America First FCU | 3.95% | $500 | NCUA |
| Capital One | 3.90% | $0 | FDIC |
| Bread Savings | 3.85% | $1,500 | FDIC |
| LendingClub | 3.50% | $500 | FDIC |
| Salem Five Direct | 3.50% | $10,000 | FDIC |
| 18 Months (1.5 Year) | |||
| Newtek Bank | 3.95% | $2,500 | FDIC |
| America First FCU | 3.95% | $500 | NCUA |
| Popular Direct | 3.90% | $10,000 | FDIC |
| Capital One | 3.60% | $0 | FDIC |
| LendingClub | 3.50% | $500 | FDIC |
| Salem Five Direct | 3.50% | $10,000 | FDIC |
| 2 Years | |||
| America First FCU | 4.05% | $500 | NCUA |
| E*TRADE | 4.00% | $0 | FDIC |
| Newtek Bank | 3.90% | $2,500 | FDIC |
| Popular Direct | 3.85% | $10,000 | FDIC |
| Capital One | 3.50% | $0 | FDIC |
| LendingClub | 3.50% | $500 | FDIC |
| Salem Five Direct | 3.50% | $10,000 | FDIC |
| 2.5 Years | |||
| America First FCU | 4.05% | $500 | NCUA |
| Capital One | 3.50% | $0 | FDIC |
| Salem Five Direct | 2.00% | $10,000 | FDIC |
| 3 Years | |||
| America First FCU | 4.05% | $500 | NCUA |
| E*TRADE | 3.95% | $0 | FDIC |
| Popular Direct | 3.85% | $10,000 | FDIC |
| Newtek Bank | 3.80% | $2,500 | FDIC |
| Capital One | 3.50% | $0 | FDIC |
| LendingClub | 3.45% | $2,500 | FDIC |
| Salem Five Direct | 2.00% | $10,000 | FDIC |
| 4 Years | |||
| America First FCU | 4.05% | $500 | NCUA |
| Capital One | 3.50% | $0 | FDIC |
| Salem Five Direct | 2.25% | $10,000 | FDIC |
| Newtek Bank | 2.00% | $2,500 | FDIC |
| 5 Years | |||
| America First FCU | 4.10% | $500 | NCUA |
| E*TRADE | 3.95% | $0 | FDIC |
| Capital One | 3.60% | $0 | FDIC |
| LendingClub | 3.40% | $500 | FDIC |
| Salem Five Direct | 2.25% | $10,000 | FDIC |
| Newtek Bank | 2.00% | $2,500 | FDIC |
MYGA vs CD Rates: Side-by-Side Comparison
Top rates as of 4/27/2026. Growth shown on $100,000 deposit, compounded annually, before taxes. MYGAs grow tax-deferred; CD interest is taxable in the year earned.
| Term | Top MYGA Rate | Top CD Rate | $100K Grows To (MYGA / CD) |
MYGA Advantage |
|---|---|---|---|---|
| 2 Years | 5.25%Mountain Life · Secure Summit 2 | 4.05%America First FCU | $110,776 $108,264 |
+$2,512+1.20% APY |
| 3 Years | 6.00%Mountain Life · Alpine Horizon 3 | 4.05%America First FCU | $119,102 $112,649 |
+$6,453+1.95% APY |
| 4 Years | 6.05%Mountain Life · Alpine Horizon 4 | 4.05%America First FCU | $126,486 $117,211 |
+$9,275+2.00% APY |
| 5 Years | 6.30%American Gulf · Anchor MYGA 5 | 4.10%America First FCU | $135,727 $122,251 |
+$13,476+2.20% APY |
| 6 Years | 6.30%American Gulf · Anchor MYGA 6 | CDs not commonly issued at this term — MYGAs offer multi-year guarantees most banks don't. | ||
| 7 Years | 6.50%Knighthead Life · Staysail 7 (A‑ rated) | CDs not commonly issued at this term. | ||
| 8 Years | 6.00%Mountain Life · Secure Summit 8 | CDs not commonly issued at this term. | ||
| 9 Years | 5.50%Liberty Bankers Life · Heritage Elite 9 (A‑ rated) | CDs not commonly issued at this term. | ||
| 10 Years | 6.25%Sentinel Security Life · Personal Choice 10 | CDs not commonly issued at this term. | ||
What Is a Certificate of Deposit (CD)?
A certificate of deposit (CD) is a type of savings account offered by banks and credit unions that allows you to earn a fixed interest rate. When you deposit money into a CD, you agree to keep it there for a specific period of time, called the term. During this time, you cannot withdraw the money without facing a penalty.
The interest rate on a CD depends on the length of the term you choose. It’s important to consider factors like the minimum deposit required to open the account and any penalties for early withdrawal, as these can affect your earnings.
CD terms typically range from three to sixty months, offering flexibility in choosing a term that suits your goals.
By depositing a higher amount or selecting a longer-term CD, you can often secure a better interest rate. However, keep in mind that withdrawing money from a CD before it matures will result in penalties that may eat into your earnings.
Certificates of deposit provide a secure way to save money. They are federally insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 at banks, and by the National Credit Union Administration (NCUA) at federal credit unions.
Unlike investments tied to the stock market, the value of CDs does not decrease due to market fluctuations.
How Do CDs Work?
A CD works similarly to a high-yield savings account offered by banks and credit unions. You deposit money into the CD and earn monthly interest. The interest compounds, meaning it adds up over time and grows your principal at a fixed rate called the annual percentage yield (APY).
CD rates are usually higher than high-yield savings account interest rates because banks and credit unions know how long they will have access to your money.
CD accounts are designed assuming the financial institution will hold your money for a fixed period, and in return, they guarantee you a set interest rate for the duration of your certificate.
In exchange for committing to hold your CD for a specified period of time, the bank guarantees your interest rate for the duration of the term. If you withdraw your money before the CD’s term ends, the bank or credit union will typically charge you a fee equal to a few months’ worth of the interest you earned.
When your CD matures, you have options:
- you can withdraw the money,
- Renew the current CD for another term at the new money rates,
- or transfer it to a different CD or investment account.
Usually, you must make this decision during a specified “grace period” (typically 30 days), and the bank may renew your CD for another term.
MYGA vs CD: Tax-Equivalent Yield Calculator
See how much more you actually keep after taxes when MYGAs grow tax-deferred.
After-tax dollars you keep with the MYGA
+$0
Tax-equivalent yield: 0.00%
CD (taxed annually)
MYGA (tax-deferred)
Estimates only. CD model assumes interest is taxed at your combined marginal rate each year and reinvested net of tax. MYGA model assumes pre-tax compounding with all gain taxed at withdrawal at the same combined rate (actual taxation depends on holding strategy and account type — IRA/Roth/non-qualified differ). Excludes any state tax-deferral benefits, surrender charges, and early-withdrawal penalties. Not tax advice — consult a qualified tax professional.
Common Types of CDs
There is a wide range of CD options that cater to different preferences, such as the amount of money you wish to deposit, the flexibility of accessing funds before maturity, and more. Here are some of the frequently encountered types of CDs:
High-yield CDs: These CDs offer a higher annual percentage yield (APY) compared to most CDs in the market.
Jumbo CDs: Typically requiring a larger minimum deposit, usually $100,000 or more (varies by financial institution).
No-penalty CDs: Also known as liquid CDs, these allow you to withdraw funds before maturity without incurring any penalties.
Brokered CDs: You can purchase these CDs from a broker or brokerage firm rather than a traditional bank.
Step-up CDs: This type of CD gradually increases its APY during the term, following a predetermined schedule set by your bank or credit union.
Bump-up CDs: Referred to as “jump-up” CDs, they enable depositors to take advantage of a one-time APY increase to match the prevailing rate for their CD term at their financial institution.
Add-on CDs: Unlike regular CDs, these allow you to contribute additional funds to your account after making the initial deposit.
How to Choose the Best CD
Here are the main factors to consider when shopping for a certificate of deposit:
Interest rates: This is the most important factor to consider when choosing a CD. Generally, the longer the term of the CD, the higher the interest rate.
Term length: The term length of a CD can range from a few months to several years. Consider your financial goals and needs when choosing a term length.
Minimum deposit requirements: Some banks require a minimum deposit to open a CD. Make sure you can meet this requirement before choosing a bank.
Early withdrawal penalties: If you need to withdraw your money before the end of the term, you may be subject to penalties. Make sure you understand these penalties before investing in a CD.
FDIC insurance: The FDIC insures bank deposits up to $250,000 per depositor, per bank. Make sure your bank is FDIC-insured for added protection.
How to Open a Bank CD
Once you’ve chosen a bank and CD, the next step is to open the account. You can do this in a few ways, depending on the bank’s options. Here are the general steps:
Gather your personal and financial information: Before you begin the account opening process, make sure you have all the required personal and financial information on hand. This may include your full name, Social Security number, address, employment information, and funding source.
Decide how you want to open the account: Many banks offer multiple options for opening a CD account, such as in-person at a branch, online, or by phone. Choose the option that works best for you.
Fill out the application: Whether you’re opening the account in person or online, you’ll need to fill out an application. This will include your personal and financial information, as well as the details of the CD you’ve chosen.
Fund the account: To start earning interest on your CD, you’ll need to fund the account with the required minimum deposit. This can be done through a transfer from another account, a check, or cash.
Confirm the details: Once your account is set up, make sure to double-check all the details, including the interest rate, term length, and maturity date.
Keep track of your account: It’s important to keep track of your CD account and its maturity date, so you can plan accordingly and avoid any penalties for early withdrawal.
By following these steps, you can open a bank CD account with confidence and start earning interest on your savings.
Frequently Asked Questions
Are Annuities FDIC Insured?
While not FDIC insured, State Guaranty Associations provide a safety net for their state’s annuity policyholders. These Guaranty Associations guarantee policyholders continue to receive coverage (up to the limits spelled out by state law) even if their insurer is declared insolvent.
Source: “Learn to Invest, Investment Types, Annuities, Fixed Annuities.” Financial Industry Regulatory Authority (FINRA). Visit FINRA’s Fixed Annuities Webpage
Can you Loose money in a fixed annuity?
You can not lose money in a fixed annuity. However, guarantees are backed by the claims-paying ability of the issuing insurance company so it is important to consider an insurer’s financial rating when shopping for an annuity.
Does a Fixed Annuity Have any Fees?
Fixed Annuities do not have any fees or expenses unless you add an additional rider that was not mentioned on this page.
What is a No-Penalty CD?
A no-penalty CD is a type of CD that doesn’t have a penalty for withdrawing money before the term ends. It can be appealing if you want the traditionally higher yield of a CD, compared to regular savings accounts, but you might need the money sooner than you expect.
What happens if You withdraw from a CD early?
Most CDs have an early withdrawal penalty that tends to range from several months to a year’s worth of interest earned, depending on the CD term length and the bank’s policy. No-penalty CDs are the only type of CD that lets you withdraw money from a CD early without a fee.
