Lock in up to 4.40% APY with a 2-year CD

Find out which banks are offering the best CD rates right now. If you’re looking for a secure place to store your savings, a certificate of deposit (CD) may be a great choice. These accounts often provide higher interest rates than traditional checking and savings accounts. However, CD rates can vary widely.

Learn more about where CD rates stand today and how to find the best rates available.

Banks with the best CD rates today

The Federal Reserve recently raised the federal funds rate for the first time in more than three years, which means CD rates are starting to rise. In face, many financial institutions now offer competitive rates of 4% APY and up, particularly online banks.

Today, Thursday, September 24, 2026, the highest CD rate is 4.40%, and it’s offered by Happen Bank on its 2-year CD.

Here is a look at some of the best CD rates available today from our verified partners:

CD rate predictions for 2026

CD rates will likely rise modestly through the rest of the year.

Why? Following its September meeting, the Federal Reserve raised the federal funds target range by 25 basis points to 3.75%–4.00%, marking its first rate hike since 2023. Plus, September projections show that Fed officials anticipate one additional rate increase before the end of 2026, followed by rates remaining relatively high into 2027.

The federal funds rate doesn’t directly impact CD rates, though they are correlated. When the Fed lowers rates, financial institutions typically follow suit (and vice versa). Now that the Fed has raised rates, we’ll closely track CD rates to see whether now is still a good time to put your money in a CD and lock in today’s best rates.

How to open a CD

The process for opening a CD account varies by financial institution. However, there are a few general steps you can expect to follow:

• Research CD rates: One of the most important factors to consider when opening a CD is whether the account provides a competitive rate. You can easily compare CD rates online to find the best offers.

• Choose an account that meets your needs: While a CD’s interest rate is a key consideration, it shouldn’t be the only one. You should also evaluate the CD’s term length, minimum opening deposit requirements, and fees to ensure a particular account fits your financial needs and goals. For example, you want to avoid choosing a CD term that’s too long, otherwise you’ll be subject to an early withdrawal penalty if you need to pull out your funds before the CD matures.

• Get your documents ready: When opening a bank account, you will need to provide a few pieces of information, including your Social Security number, address, and driver’s license or passport number. Having these documents on hand will help streamline the application process.

• Complete the application: These days, many financial institutions allow you to apply for an account online, though you might have to visit the branch in some cases. Either way, the application for a new CD should only take a few minutes to complete. And in many cases, you’ll get your approval decision instantly.

• Fund the account: Once your CD application is approved, it’s time to fund the account. This can usually be done by transferring money from another account or mailing a check.

Read more: Step-by-step instructions for opening a CD