Best CD rates today can help savers lock in yields while the Federal Reserve holds interest rates steady in 2026. After three cuts to the federal funds rate in 2025, policymakers at the Federal Reserve have not moved rates this year, which could make now a timely moment to secure a competitive certificate of deposit before any future shifts.
CD yields differ widely by bank and credit union, especially online institutions. Comparing offers is essential to ensure you capture the highest return available for your timeline and risk tolerance.
Best CD rates today, Saturday, August 8, 2026
Shorter terms around one year or less continue to feature many of the strongest offers. Online banks and credit unions generally lead the market.
As of Saturday, August 8, 2026, the highest widely available CD rate is 4.15% APY. According to published rates, Synchrony Bank is offering this yield on a 14-month CD.
Here is a snapshot of some of the most competitive CD offers available today.
How much interest can I earn with a CD?
Your earnings on a CD are determined by the annual percentage yield, or APY. APY reflects the stated interest rate plus the effect of compounding, which typically occurs daily or monthly on CDs.
For example, depositing $1,000 in a one-year CD with a 1.52% APY that compounds monthly would grow to $1,015.20 at maturity. That is the initial $1,000 plus $15.20 in interest.
Choosing a one-year CD with a 4% APY instead would increase the ending balance to $1,040.74, including $40.74 in interest over the same period.
Larger deposits scale those results. A $10,000 deposit at a 4% APY for one year, compounded monthly, would mature at $10,407.42, yielding $407.42 in interest.
Types of CDs
The headline rate is important, but the account type and flexibility can matter just as much. Several CD structures offer features that may suit different goals, sometimes at the cost of a slightly lower APY. Common options include:
- Bump-up CD: Lets you request a higher rate if the bank increases its CD rates during your term, typically limited to one bump.
- No-penalty CD: Also called a liquid CD, it permits early withdrawals without an interest penalty.
- Jumbo CD: Requires a large minimum deposit, often $100,000 or more, and may offer a higher rate. In the current market, the gap versus standard CDs can be small.
- Brokered CD: Purchased through a brokerage rather than directly from a bank. These can feature higher yields or flexible terms, but may involve additional risks and might not be FDIC insured.
Before opening an account, review the issuing institution’s disclosures, compounding schedule, early withdrawal penalties, and deposit insurance coverage to ensure the product aligns with your savings plan. For larger portfolios, savers may also weigh CDs alongside other investments, similar to how investors evaluate vehicles in pieces such as the Situational Awareness fund slumps from $45B to $10B.