The highest CD rates we read on the banks’ own pages were 5.00% APY on a 60-month CD and 4.50% APY on a 12-month CD (Popular Direct), and 4.75% APY on an 18-month CD (Bread Savings). Rates below were read directly from each bank’s website between October 5 and October 15, 2026. CD rates follow the Federal Reserve’s policy rate, which was raised to 3.75%–4.00% on September 16, 2026, so confirm the current APY at the bank before you open one.
Quick answer: Of the five banks in the tables, Popular Direct had the highest rate for 6, 12, 24, 36, 48 and 60 months, and Bread Savings for 9 and 18 months. Popular Direct’s CDs need $10,000 to open. Marcus ($500) and Bread Savings ($1,500) open with less.
Rate notice: Each rate is dated by the bank’s page, not by us: Marcus and Bread Savings October 15, 2026; EverBank October 9; Popular Direct October 5; CIT Bank July 1, 2026 (its page still showed those rates when we checked on October 15). A dash means we did not read a rate for that term. Left out: Ally, Capital One and Synchrony are not in the rate tables because their pages did not show readable term-by-term rates when we checked. Discover CDs are becoming Capital One CDs, so there is no separate Discover row.
Best CD Rates by Term Length
Short-Term CDs (3–12 Months)
| Bank | 3-Month | 6-Month | 9-Month | 12-Month | Min. Deposit |
|---|---|---|---|---|---|
| Popular Direct | — | 4.35% | — | 4.50% | $10,000 |
| Bread Savings | — | — | 4.40% | — | $1,500 |
| Marcus | — | 3.95% | 4.30% | 4.40% | $500 |
| EverBank | 3.60% | 3.60% | 3.40% | 3.50% | $1,000 |
| CIT Bank | — | 3.75% | — | — | $1,000 |
Medium-Term CDs (18–36 Months)
| Bank | 18-Month | 24-Month | 30-Month | 36-Month | Min. Deposit |
|---|---|---|---|---|---|
| Popular Direct | — | 4.70% | — | 4.85% | $10,000 |
| Bread Savings | 4.75% | — | — | — | $1,500 |
| Marcus | 4.40% | 4.40% | — | — | $500 |
| EverBank | 3.40% | 4.35% | 3.40% | 3.40% | $1,000 |
| CIT Bank | 2.75% | — | — | — | $1,000 |
Long-Term CDs (48–60 Months)
| Bank | 48-Month | 60-Month | Min. Deposit |
|---|---|---|---|
| Popular Direct | 4.95% | 5.00% | $10,000 |
| EverBank | 3.40% | 3.40% | $1,000 |
APYs as of the dates in the rate notice above; rates are checked on October 15, 2026 against each bank’s own page. A CD’s rate is fixed for its term, but rates for new CDs change. Verify the current rate at each bank before opening a CD.
How CD Rates Follow the Fed
The Federal Reserve cut its target range six times between September 2024 and December 2025, ending at 3.50%–3.75%. It held that range at all five of its 2026 meetings through July, then raised it by 0.25 points to 3.75%–4.00% on September 16, 2026. CD rates generally track that policy rate, but banks set their own, so rates for new CDs can differ a lot from one bank to the next: on a 12-month CD, the banks above range from 3.50% to 4.50%.
| Period | Fed target range |
|---|---|
| After the September 2024 cut | 4.75%–5.00% |
| After the December 2024 cut | 4.25%–4.50% |
| After the December 2025 cut | 3.50%–3.75% |
| January–July 2026 meetings | Held at 3.50%–3.75% |
| September 16, 2026 | Raised to 3.75%–4.00% |
What this means for savers: a CD locks in the rate you get on the day you fund it, whichever way the Fed moves next. For the wider outlook, see the CD rate forecast.
Best No-Penalty CDs
No-penalty CDs provide a fixed rate with the flexibility to withdraw before maturity without a penalty, a middle ground between CDs and savings accounts.
| Bank | Term | APY | Min. Deposit | Withdrawal rule |
|---|---|---|---|---|
| Marcus | 11 months | 4.00% | $500 | Full balance, from 7 days after funding |
| Marcus | 13 months | 3.80% | $500 | Full balance, from 7 days after funding |
| Marcus | 7 months | 3.75% | $500 | Full balance, from 7 days after funding |
| CIT Bank | 11 months | 3.90% | $1,000 | From 7 days after funding |
Marcus rates as of October 15, 2026. CIT Bank’s rate as of July 1, 2026; still shown on CIT's site October 15, 2026. Ally also sells an 11-month no-penalty CD that allows withdrawal after the first 6 days, but its page did not show a readable rate when we checked.
When no-penalty CDs make sense: you want to lock in a rate but aren’t sure you won’t need the money. If rates rise, you can withdraw and reinvest. If rates drop, you keep the locked-in rate. For a full comparison, see no-penalty CDs vs. savings accounts.
How Much CDs Earn: Interest by Balance and Term
Use the CD calculator to run your own numbers. The tables below use the highest APY we read for each term (the rates in the tables above), and assume the APY is earned as stated with interest left in the CD, so interest over a term is the balance times ((1 + APY)^(months ÷ 12) − 1), rounded to the dollar. Popular Direct, which has most of the top rates, needs $10,000 to open, and actual earnings depend on the rate on the day you fund.
$10,000 CD — Interest Earned by Term
| Term | APY | Interest Earned | Total at Maturity |
|---|---|---|---|
| 6 months | 4.35% | $215 | $10,215 |
| 12 months | 4.50% | $450 | $10,450 |
| 18 months | 4.75% | $721 | $10,721 |
| 24 months | 4.70% | $962 | $10,962 |
| 36 months | 4.85% | $1,527 | $11,527 |
| 60 months | 5.00% | $2,763 | $12,763 |
$50,000 CD — Interest Earned by Term
| Term | APY | Interest Earned | Total at Maturity |
|---|---|---|---|
| 6 months | 4.35% | $1,076 | $51,076 |
| 12 months | 4.50% | $2,250 | $52,250 |
| 24 months | 4.70% | $4,810 | $54,810 |
| 36 months | 4.85% | $7,634 | $57,634 |
| 60 months | 5.00% | $13,814 | $63,814 |
$100,000 CD — Interest Earned by Term
| Term | APY | Interest Earned | Total at Maturity |
|---|---|---|---|
| 6 months | 4.35% | $2,152 | $102,152 |
| 12 months | 4.50% | $4,500 | $104,500 |
| 24 months | 4.70% | $9,621 | $109,621 |
| 60 months | 5.00% | $27,628 | $127,628 |
CD Laddering Strategy
CD laddering splits your savings across several CDs with staggered maturity dates, giving you regular access to part of your money while it earns longer-term rates.
Example: $50,000 CD Ladder at Popular Direct’s Rates
| CD | Amount | Term | APY | Matures | Interest Earned |
|---|---|---|---|---|---|
| CD 1 | $10,000 | 12 months | 4.50% | Year 1 | $450 |
| CD 2 | $10,000 | 24 months | 4.70% | Year 2 | $962 |
| CD 3 | $10,000 | 36 months | 4.85% | Year 3 | $1,527 |
| CD 4 | $10,000 | 48 months | 4.95% | Year 4 | $2,132 |
| CD 5 | $10,000 | 60 months | 5.00% | Year 5 | $2,763 |
| Total | $50,000 | — | 4.80% avg | — | $7,834 |
Each rung is held to its own maturity with interest left in; the average APY is the simple average of the five rates. Popular Direct is used because it lists all five terms and each rung meets its $10,000 minimum.
How it works: when CD 1 matures after a year, you either use the money or reinvest it in a new 60-month CD. Each year one CD matures, giving you annual access while most of your money earns longer-term rates. For full detail, see the CD laddering strategy guide.
CD Ladder vs. Single CD vs. Savings Account
| Strategy | Liquidity | Rate Risk |
|---|---|---|
| 5-rung CD ladder | One CD matures each year | Spreads the rate you lock in across five years |
| Single 60-month CD | None without a penalty | Locks one rate for the full five years |
| Single 12-month CD, renewed | All of it each year | Renews at whatever rate is on offer |
| High-yield savings | Full access anytime | The rate can change at any time |
Early Withdrawal Penalties by Bank
Penalties are stated as interest forfeited, and the amount depends on the CD’s term.
| Bank | Penalty by term |
|---|---|
| Ally | Less than 3 months: 30 days of interest; 3–24 months: 60 days; 25–36 months: 90 days; 37–48 months: 120 days; 49 months or longer: 150 days |
| Capital One (Discover CDs are becoming Capital One CDs) | 12 months or shorter: 3 months of interest; longer than 12 months: 6 months of interest |
| Synchrony | 12 months or less: 90 days of simple interest; more than 12 but less than 48 months: 180 days; 48 months or more: 365 days |
Penalties from each bank’s own pages (Ally’s CD help page, Capital One’s online CD disclosure, Synchrony’s CD FAQ). We did not find Marcus, Bread Savings, EverBank, Popular Direct or CIT Bank’s penalty schedules on pages we could read, so they are not listed; check them in the bank’s account agreement. A CD with a term of exactly 12 months falls in Capital One’s lower penalty tier.
CD vs. High-Yield Savings: When Each Wins
| Scenario | Winner | Why |
|---|---|---|
| You won’t touch the money for 12+ months | CD | The rate is fixed for the term |
| You expect rates to fall | CD | Your rate stays put while savings rates drop |
| Rates may rise | Savings | A savings rate can rise with the Fed; a CD stays flat |
| Emergency fund | Savings | Full liquidity; no penalty |
| Known future expense (wedding, tuition) | CD | Match the CD term to the date |
| Unsure if you’ll need the money | No-penalty CD | Rate locked with withdrawal flexibility |
For a full side-by-side analysis, see CD vs. high-yield savings account. For a three-way comparison, see HYSA vs. CD vs. money market.
Jumbo CD Rates
CIT Bank describes its Jumbo CDs as designed for a larger sum of $100,000 or more. We did not read a jumbo-tier rate table on the bank pages we checked, so none is listed. Before you pick a jumbo CD, compare its rate with the standard rate at the same bank; splitting a large balance across banks can also keep each part inside FDIC coverage.
FDIC note: FDIC insurance covers $250,000 per depositor, per insured bank, for each account ownership category. Money above that at one bank, in the same ownership category, is not covered.
Taxes on CD Interest
CD interest is taxable income. The IRS says you generally include interest in income when you receive it or are entitled to it without paying a substantial penalty, and for a CD with a maturity of more than 1 year you include a part of the total interest each year as original issue discount (OID). Your bank reports interest on a Form 1099-INT or 1099-OID if you earned $10 or more.
Tax Impact on a $25,000, 12-Month CD at 4.50% APY
The table uses the 2026 federal rates (10%, 12%, 22%, 24%, 32%, 35%) on the interest alone, ignoring state tax.
| Tax Bracket | Interest Earned | Federal Tax | After-Tax Return | Effective APY |
|---|---|---|---|---|
| 10% | $1,125 | $113 | $1,012 | 4.05% |
| 12% | $1,125 | $135 | $990 | 3.96% |
| 22% | $1,125 | $248 | $877 | 3.51% |
| 24% | $1,125 | $270 | $855 | 3.42% |
| 32% | $1,125 | $360 | $765 | 3.06% |
| 35% | $1,125 | $394 | $731 | 2.93% |
If you are in a higher bracket and live in a state with an income tax, compare CDs against Treasury bills: the IRS says Treasury interest is subject to federal tax but exempt from state and local income taxes. For full tax guidance, see paying tax on CD interest.
FDIC Insurance: Are CDs Safe?
The banks in this comparison are FDIC-insured. FDIC insurance covers $250,000 per depositor, per insured bank, for each account ownership category, and all your deposits in the same ownership category at the same bank are added together. This means:
- A single account: up to $250,000 per owner
- A joint account: up to $250,000 per co-owner
- Balances above the limit in the same ownership category at one bank: not covered
You can be covered for more than $250,000 at one bank if the money is in different ownership categories. Bank failures are unlikely, but they do happen. For a full explanation, see are CDs safe?
How to Open a CD
| Step | Action | Notes |
|---|---|---|
| 1 | Choose a term based on when you’ll need the money | Match the term to your timeline |
| 2 | Compare rates from the tables above | Verify the current rate at the bank |
| 3 | Check the minimum deposit | $500 at Marcus to $10,000 at Popular Direct in our tables |
| 4 | Apply online | Banks ask for your name, address, Social Security number and ID |
| 5 | Fund the CD | Usually by transfer from another bank account |
| 6 | Set a reminder for the maturity date | Avoid an unwanted auto-renewal |
Auto-renewal and grace periods: Bread Savings, Capital One and Ally all say a CD renews automatically, at the rate on offer at maturity. Ally and Capital One give you 10 days after maturity to change or withdraw without penalty, and EverBank gives 10 business days. Set a reminder so you choose what to do with the money.
How We Select These Rates
WealthVieu’s CD comparison uses the rates each bank shows on its own CD page. We include:
- FDIC-insured banks (no crypto platforms or uninsured products)
- APY (Annual Percentage Yield), not APR, because APY accounts for compounding
- Banks with national availability, whose pages showed readable rates for several terms on the dates given
- Rates available to new customers with standard deposits
Inclusion is not an endorsement. Rates change, so verify the current APY with the bank before opening an account.
What’s Next
- CD Calculator — Calculate exact interest earned for your balance, term, and rate
- CD Rate Forecast — Where CD rates are headed
- CD vs. High-Yield Savings Account — Full comparison to help you decide where to put your cash
- HYSA vs. CD vs. Money Market — Three-way comparison for cash savers
- CD Laddering Strategy — How to build a ladder for regular liquidity and long-term rates
- Best Rates by Term — Dedicated rate pages for each term length
- CDs vs. Treasury Bills — When T-bills beat CDs on after-tax return
- IRA vs. CD — Using CDs inside a retirement account
- CD Hub — Full Guide — Everything about CDs in one place
The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy