The Federal Reserve cut its federal funds rate three times in 2025. So far in 2026, the Fed has left interest rates unchanged, which means now could be the last chance to lock in a competitive CD rate before rates move further. CD rates tend to track the federal funds rate: when the Fed lowers rates, banks and credit unions generally pull down the yields they pay on CDs and savings accounts, which is why locking in a longer-term CD before further cuts can preserve today's returns for the life of the term. CD rates also vary widely across financial institutions — brick-and-mortar banks typically pay far less than online banks, which have lower overhead costs — so it is important to make sure you are getting the best possible rate when shopping around for a CD. CDs also differ from high-yield savings accounts in one key way: the APY is fixed for the entire term, whereas savings rates can change at any time.

The following is a breakdown of CD rates today and where to find the best offers.

CD rates today, Saturday, September 5, 2026

Generally, the best CD rates today are offered on shorter terms of around one year or less. Online banks and credit unions in particular offer the top CD rates.

Today, Saturday, September 5, 2026, the highest CD rate is 4.35%. Marcus by Goldman Sachs offers it on its 18-month CD.

How much interest can I earn with a CD?

The amount of interest you can earn from a CD depends on the annual percentage yield (APY). This is a measure of your total earnings after one year, taking into account the base interest rate and how often interest compounds (CD interest typically compounds daily or monthly).

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

Now let's say you choose a one-year CD that offers 4% APY instead. In this case, your balance would grow to $1,040.74 over the same period, which includes $40.74 in interest.

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

Types of CDs

When choosing a CD, the interest rate is usually top of mind. However, the rate isn't the only factor to consider. There are several types of CDs that offer different benefits, though you may need to accept a slightly lower interest rate in exchange for more flexibility. Here is a look at some of the common types of CDs you can consider beyond traditional CDs:

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

No-penalty CD: Also known as a liquid CD, this type of CD allows you to withdraw funds before maturity without 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 not be much.

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.

One more factor to weigh before opening any CD: withdrawing money before maturity typically triggers an early-withdrawal penalty, often expressed as several months' worth of interest, so only commit funds you won't need during the term. Deposits at FDIC-member banks are insured up to $250,000 per depositor, per institution, per ownership category.

The best CD rates for September 2026: Earn up to 4.35% APY

The best CD rates and accounts available today were identified based on interest rates, fees, and more. Top picks are available across 6-month, 1-year, 18-month, and 2-year terms.

Best 18-month CD rates for September 2026: Earn up to 4.35% APY

18-month CDs offer a balance of solid returns and flexibility. Banks and credit unions are offering top 18-month CD rates.

Best 1-year CD rates for September 2026: Lock in up to 4.15% APY

Compare today's best 1-year CD rates, see which banks offer the highest yields, and learn how to lock in a guaranteed return on your savings.

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

A 6-month CD allows you to lock in a guaranteed rate on your savings without tying up your money for an extended period.

Best 2-year CD rates for September 2026: Lock in up to 4.3% through 2028

A 2-year CD allows you to lock in a guaranteed rate on your savings for the next 24 months.

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.

Source: Yahoo Finance