The Federal Reserve cut interest rates three times in 2025 and has held steady so far in 2026, which may make now a crucial window to lock in a competitive CD rate before further changes occur. CD rates differ significantly across institutions, so shopping around is essential to maximize your returns.
Below is an overview of today’s CD rates and where the best deals can be found.
CD Rates Today, Saturday, September 12, 2026
Generally, the most competitive CD rates are found on shorter-term products of around one year or less, with online banks and credit unions typically leading the market.
On Saturday, September 12, 2026, the highest available CD rate stands at 4.35% APY, offered by Marcus by Goldman Sachs on its 18-month CD.
Here is a snapshot of some of the top CD rates available today:
How Much Interest Can I Earn with a CD?
The interest you earn on a CD depends on its annual percentage yield (APY), which reflects your total earnings after one year, factoring in both the base rate and the frequency of compounding (typically daily or monthly).
For example, depositing $1,000 in a one-year CD with a 1.52% APY that compounds monthly would yield a balance of $1,015.20 at maturity—your original $1,000 plus $15.20 in interest.
By comparison, a one-year CD offering 4% APY would grow the same $1,000 deposit to $1,040.74, generating $40.74 in interest over the year.
Higher deposits translate to greater earnings. Using the same 4% APY example with a $10,000 deposit, your maturity balance would reach $10,407.42, meaning you would earn $407.42 in interest.
Types of CDs
While interest rate is often the primary consideration, it is not the only factor when choosing a CD. Several CD varieties offer distinct advantages, sometimes at the cost of a slightly lower rate in exchange for greater flexibility:
- Bump-up CD: Allows you to request a higher rate if your bank raises rates during the term, though typically only once.
- No-penalty CD: Also called a liquid CD, permits early withdrawal without penalty.
- Jumbo CD: Requires a higher minimum deposit (usually $100,000 or more) and often offers a better rate, though the gap versus traditional CDs has narrowed in the current environment.
- Brokered CD: Purchased through a brokerage rather than directly from a bank, potentially offering higher rates or more flexible terms, but with added risk and possible lack of FDIC insurance.