Best CD Rates Today, Saturday, August 8, 2026: Top CD Account Earns 4.15% APY

The Federal Reserve cut its federal funds rate three times in 2025. So far in 2026, the Fed has left interest rates unchanged, meaning now could be the last opportunity to lock in a competitive certificate of deposit (CD) rate before rates move further. CD rates tend to follow the Fed's benchmark closely, with banks typically adjusting deposit yields within weeks of policy changes. Rates have already declined from their 2023–2024 peaks, when many top CDs offered above 5% APY. CD rates vary widely across financial institutions, making it essential to compare offers when shopping for a CD.

CD Rates Today, Saturday, August 8, 2026

The best CD rates available today are generally offered on shorter terms of approximately one year or less. Online banks and credit unions consistently offer the top CD rates, largely because they operate without extensive branch networks and can pass those overhead savings to depositors through higher yields.

As of Saturday, August 8, 2026, the highest CD rate available is 4.15% APY, offered by Synchrony Bank on its 14-month CD.

How Much Interest Can You Earn with a CD?

The amount of interest you can earn from a CD depends on the annual percentage yield (APY). APY measures total earnings after one year, accounting for the base interest rate and how frequently interest compounds — CD interest typically compounds daily or monthly.

For example, if you invest $1,000 in a one-year CD with 1.52% APY and interest compounds monthly, your balance would grow to $1,015.20 at the end of the year — your initial $1,000 deposit plus $15.20 in interest.

If you instead choose a one-year CD offering 4% APY, your balance would grow to $1,040.74 over the same period, which includes $40.74 in interest.

The more you deposit, the more you stand to earn. Using the same one-year CD at 4% APY but with a $10,000 deposit, your total balance at maturity would be $10,407.42, meaning you would earn $407.42 in interest.

Types of CDs

When choosing a CD, the interest rate is typically the primary consideration. However, the rate is not the only factor to weigh. Several types of CDs offer different benefits, though you may need to accept a slightly lower interest rate in exchange for greater flexibility. Below are common CD types available beyond traditional CDs:

Bump-up CD: This type of CD allows you to request a higher interest rate if your bank's rates rise during the account's term. However, you are usually allowed to "bump up" your rate only once.

No-penalty CD: Also known as a liquid CD, this type of CD allows you to withdraw funds before maturity without incurring a penalty.

Jumbo CD: These CDs require a higher minimum deposit — usually $100,000 or more — and often offer a higher interest rate in return. In today's CD rate environment, however, the difference between traditional and jumbo CD rates may be negligible.

Brokered CD: As the name suggests, these CDs are purchased through a brokerage rather than directly from a bank. Brokered CDs can sometimes offer higher rates or more flexible terms, but they also carry more risk and might not be FDIC-insured.

Best CD Rates for August 2026

The best CD rates and accounts available for August 2026 have been identified based on interest rates, fees, and other factors. Top picks span 6-month, 1-year, 18-month, and 2-year terms, with rates reaching up to 4.25% APY.

Best 1-year CD rates for August 2026: Rates up to 4.1% APY are available for 12-month terms. Comparing current offers can help identify which banks provide the highest yields and guaranteed returns on savings.

Best 18-month CD rates for August 2026: 18-month CDs offer a balance of solid returns and flexibility, with rates reaching up to 4.25% APY.

Best 6-month CD rates for August 2026: A 6-month CD allows you to lock in a guaranteed rate without tying up your money for an extended period, with rates reaching up to 4.15% APY.

Best 2-year CD rates for August 2026: A 2-year CD allows you to lock in a guaranteed rate on your savings for 24 months, with rates up to 4.25% APY available through 2028.

Is a Certificate of Deposit Still a Good Investment?

Whether a certificate of deposit is a good investment right now depends on your timeline and financial goals. CDs offer guaranteed returns and FDIC insurance at most banks, making them a low-risk savings vehicle, but they also require you to lock up your funds for a set period. Early withdrawal penalties typically apply, reducing or eliminating earned interest if you need access before maturity. Savers watching the rate landscape may want to track the Fed's upcoming Federal Open Market Committee meetings and inflation readings such as the Consumer Price Index, as these data points heavily influence the direction of future rate decisions and, by extension, the CD yields banks are willing to offer. Evaluating your liquidity needs and comparing current rates can help determine whether a CD fits your financial strategy.

Source: Yahoo Finance