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Best CD rates today, Friday, August 28, 2026: Up to 4.30% APY available

If you are looking for a secure place to keep your savings, a certificate of deposit (CD) may be a strong option. These accounts often offer higher interest rates than traditional checking and savings accounts, though CD rates can vary widely. Here is a look at CD rates today and where to find high-yield CDs with the best available rates.

Banks with the best CD rates right now

CD rates today vary significantly. In general, rates have been declining for some time after the Federal Reserve cut its benchmark rate three times in late 2024 and three times in 2025. Even so, with the Fed leaving rates unchanged so far in 2026, some banks are still offering competitive CD rates. CD rates generally move in the same direction as the Fed’s benchmark rate, so the central bank’s upcoming decisions are a key factor many deposit shoppers watch when comparing today’s offers.

For institutions with the most competitive offerings, top rates are around 4% APY. This is especially true for shorter terms of one year or less.

Today, Friday, August 28, 2026, the highest CD rate is 4.30%. Synchrony Bank offers that rate on its 16-month CD, and Marcus by Goldman Sachs offers it on its 18-month CD.

Compared with the top CD rates available today, the national averages are much lower, based on the most recent FDIC data available for August 2026. That is why it is important to shop around before opening an account. Minimum deposit requirements also vary from one institution to another, so it is worth checking the terms alongside the rate.

Why do online banks have the best CD rates?

Online banks and neobanks operate entirely over the web. Because they have lower overhead than traditional brick-and-mortar banks, they can pass some of those savings to customers through higher interest rates on deposit accounts, including CDs, and through lower fees. If you are searching for the best CD rates available today, an online bank is a good place to start.

Still, online banks are not the only institutions offering competitive CD rates. Credit unions are also worth checking. As not-for-profit financial cooperatives, credit unions return profits to customers, who are also member-owners. While many credit unions have membership requirements tied to certain associations or to where you work or live, there are also several credit unions that almost anyone can join.

Should you open a CD?

Whether a CD makes sense depends on your savings goals. CDs are generally considered a safe and stable savings vehicle: they do not lose money in most cases, they are backed by federal insurance, and they let you lock in today’s best rates. At banks, FDIC insurance protects deposits up to $250,000 per depositor, per institution, per ownership category, and the NCUA provides equivalent coverage at federally insured credit unions.

There are also drawbacks. You must keep your money on deposit for the full term or face an early withdrawal penalty. If you want easier access to your money, a high-yield savings account or money market account may be a better fit. One way savers commonly balance locked-in rates with periodic access to cash is a CD ladder, which splits deposits across CDs with staggered terms so that a portion matures at regular intervals.

It also helps to know what happens when a CD term ends. Most banks automatically roll a matured CD into a new term at the then-current rate unless you withdraw the funds or choose different terms during a short grace period (often seven to ten days), so noting the maturity date in advance can help you avoid an unexpected renewal.

In addition, although today’s CD rates are high by historical standards, they do not match the returns you could potentially achieve by investing in the market. If you are saving for a long-term goal such as retirement, a CD may not provide the growth needed to reach that goal within a reasonable time frame.

Read more: Short- or long-term CD: Which is best for you?

The best CD rates for August 2026: Earn up to 4.25% APY

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Best 18-month CD rates for August 2026: Earn up to 4.25% APY

18-month CDs offer a balance of solid returns and flexibility. Find out which banks and credit unions are offering the top 18-month CD rates.

Best 1-year CD rates for August 2026: Lock in up to 4.1% APY for the next 12 months

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Best 2-year CD rates for August 2026: Lock in up to 4.25% through 2028

A 2-year CD lets you lock in a guaranteed rate on your savings for the next 24 months. See which banks have the best 2-year CD rates today.

Best 6-month CD rates for August 2026: Earn up to 4.15% APY

A 6-month CD lets you lock in a guaranteed rate on your savings without tying up your money for an extended period. See which banks have the best 6-month CD rates today.

Is a certificate of deposit (CD) still a good investment?

Whether a certificate of deposit is a good investment right now depends on your timeline and goals. Learn more about whether now is a good time to invest in CDs.