Top CD Rates for August 27, 2026: Earn Up to 4.30% APY on 16- and 18-Month Terms

Discover which banks currently offer the highest CD rates. If you seek a safe place for your savings, a certificate of deposit (CD) can be an excellent option. These accounts typically yield higher interest than standard checking or savings accounts, although rates differ across institutions.

Explore today’s CD rate landscape and learn how to secure the best offers.

Banks with the best CD rates today

CD rates remain above historical averages, though they have declined since the Federal Reserve started lowering its target rate last year. Still, many banks—especially online institutions—offer competitive yields of 4% APY or higher.

As of Thursday, August 27, 2026, the top CD rate stands at 4.30% APY, offered by Synchrony Bank on its 16‑month term and by Marcus by Goldman Sachs on its 18‑month term.

Below are some of the top CD rates currently available from our verified partners.

CD rate predictions for 2026

The Federal Reserve started reducing the federal funds rate amid slowing inflation and a brighter economic outlook, cutting the target rate three times in late 2024 for a total reduction of one percentage point.

In December, the Fed announced its third rate cut of 2025, but further reductions in 2026 appear unlikely. So far this year, rates have held steady, and the prospect of a hike before year‑end is rising.

While the federal funds rate does not directly set deposit yields, the two tend to move together. When the Fed cuts rates, banks usually lower their deposit rates, and vice versa. Given the Fed’s recent cuts and the current low‑rate environment, CD rates are drifting downward again, making it a prudent moment to lock in today’s best rates.

How to open a CD

Opening a CD varies by institution, but the following steps are common across most banks.

• Research CD rates: A competitive yield is one of the most important factors when choosing a CD. You can compare rates online quickly to identify the best offers.

• Choose an account that fits your goals: Although the interest rate matters, also consider the term length, minimum deposit, and any fees. Picking a term that’s excessively long could trigger an early‑withdrawal penalty if you need access before maturity.

• Prepare your documents: To open an account you’ll need your Social Security number, address, and a driver’s license or passport. Having these ready speeds up the application.

• Complete the application: Most institutions now offer online applications, though a branch visit may be required in some cases. The process usually takes just a few minutes, and approval is often instantaneous.

• Fund the account: After approval, deposit funds by transferring from another account or mailing a check.

Read more: Step‑by‑step guide to opening a CD

Source link