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The Federal Reserve cut its federal funds rate three times in 2025. So far in 2026, the Fed has left interest rates alone, and so now could be your last chance to lock in a competitive CD rate before rates move further. CD rates vary widely across financial institutions, so it's important to ensure you're getting the best rate possible when shopping around for a CD.
The following is a breakdown of CD rates today and where to find the best offers. 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, August 15, 2026, the highest CD rate is 4.30%. This rate is offered by Synchrony Bank on its 16-month CD. Here is a look at some of the best CD rates available today: The amount of interest you can earn from a CD depends on the annual percentage rate (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.
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