Maximize Your Returns: Secure a 4.40% APY on CDs Today

While deposit account rates are trending downward, you can still safeguard your earning power by locking in a competitive return on a certificate of deposit (CD). The best CDs currently offer rates of 4% or higher. Here is a snapshot of today’s rates and where to find the best offers.

Where Are Today’s Best CD Rates?

CDs generally yield significantly higher returns than traditional savings accounts. Currently, the best short-term CDs (six to 12 months) offer rates around 4% APY.

As of Tuesday, September 15, 2026, the highest CD rate stands at 4.40% APY, provided by Happen Bank on its 2-year term.

The following highlights some of the best CD rates available today, Tuesday, September 15, 2026, from our verified partners.

Historical CD Rates

The early 2000s were defined by the dot-com bubble and the subsequent global financial crisis of 2008. Although CD rates were relatively higher at the turn of the century, they began declining as economic growth slowed and the Federal Reserve slashed its target rate to stimulate the economy. By 2009, following the crisis, the average one-year CD yielded approximately 1% APY, while five-year CDs fell below 2% APY.

This downward trend persisted through the 2010s, particularly following the Great Recession of 2007–2009. Federal Reserve policies aimed at stimulating the economy—including keeping benchmark interest rates near zero—compelled banks to offer extremely low CD rates. By 2013, average rates on 6-month CDs plummeted to roughly 0.1% APY, and 5-year CDs averaged just 0.8% APY.

Conditions shifted between 2015 and 2018 as the Federal Reserve began gradually raising rates again. This economic expansion led to a slight improvement in CD rates, ending nearly a decade of ultra-low yields. However, the onset of the COVID-19 pandemic in early 2020 prompted emergency rate cuts by the Fed, driving CD rates to unprecedented lows.

The post-pandemic period saw a reversal of this trend as inflation began to spiral out of control. Consequently, the Fed raised interest rates 11 times between March 2022 and July 2023. This resulted in higher loan rates and elevated APYs on savings products, including CDs.

By September 2024, the Fed concluded that inflation was largely under control and began cutting the federal funds rate. After three rate cuts in 2025, CD rates steadily declined from their peak. Although the Fed has left interest rates unchanged throughout 2026, CD rates remain elevated compared to historical standards.

The following illustrates how CD rates have changed since 2009:

Understanding Today’s CD Rates

Traditionally, longer-term CDs have offered higher interest rates compared to shorter-term CDs. This premium compensates for the increased risk of locking in funds for an extended period, specifically the opportunity cost of missing out on potentially higher future rates.

However, this pattern does not necessarily hold today; the highest average CD rate currently belongs to the 12-month term. This suggests a flattening or inversion of the yield curve, which typically occurs during periods of economic uncertainty or when investors anticipate declining future interest rates.

Read more: Short- or Long-Term CDs: Which Is Best for You?

How to Choose the Best CD Rates

When opening a CD, securing a high APY is only one factor to consider. Several other elements determine whether a particular CD aligns with your needs and maximizes your overall return. Consider the following when selecting a CD:

• Your Goals: Determine how long you are willing to lock away your funds. CDs come with fixed terms, and early withdrawals can result in penalties. Terms range from a few months to several years, and the right choice depends on when you anticipate needing access to your money.

• Type of Financial Institution: Rates vary significantly across institutions. Beyond your current bank, research CD rates from online banks, local banks, and credit unions. Online banks often offer higher rates due to lower overhead costs, but ensure any institution you consider is FDIC-insured (or NCUA-insured for credit unions).

• Account Terms: Beyond the interest rate, carefully review the CD’s terms, including the maturity date and withdrawal penalties. Also, verify if there is a minimum deposit requirement and whether it fits your budget.

• Inflation: While CDs provide safe, fixed returns, they may not always keep pace with inflation, particularly for longer terms. Factor this into your decision regarding the term length and investment amount.

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