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Best CD Rates of May 2026 (Up to 4.00% APY)

Updated
Brendan Byrnes
Author: Brendan Byrnes
Brendan Byrnes
Brendan Byrnes
Director

Brendan Byrnes is the Managing Director at Motley Fool Money, where he leads business strategy and editorial operations. Since joining The Motley Fool in 2011, he has written hundreds of articles, contributed investing and market analysis, and appeared on CNBC and Fox. Earlier in his career at The Motley Fool, he interviewed executives and thought leaders from across the investing and business world. Brendan holds a degree in finance from Virginia Tech.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. APY = Annual Percentage Yield.

CD rates don't stay put. Banks adjust their offers constantly, and the best CD rates you saw last month might already be gone.

Our team keeps tabs on top CD offers across dozens of banks and credit unions -- looking at APY, term flexibility, minimum deposit requirements, early withdrawal penalties, and whether the bank itself is actually worth trusting with your money.

Our picks below are FDIC insured, offer top APYs for their term length, and come from banks we'd feel comfortable recommending to friends and family.

  • Our team of experts assessed 100+ banking institutions
  • We evaluate all banking institutions across the same 4 key criteria: annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks
  • Our bank ratings are never influenced by our advertising partners
  • We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased

Best CD rates

Rates as of April 29, 2026
Synchrony Online CD

Synchrony Online CD

Member FDIC.
APY:
4.00%
Term:
9 Months
Min. Deposit:
$0
Open Account for

On Synchrony Bank's Secure Website.

Western Alliance Bank CD

Western Alliance Bank CD

APY:
3.00%
Term:
3 Months
Min. Deposit:
$1
Open Account for

On Raisin's Secure Website.

Barclays Online CD

Barclays Online CD

Member FDIC.
APY:
3.50%
Term:
6 Months
Min. Deposit:
$0
Open Account for Barclays Online CD

On Barclays' Secure Website.

Quontic CD

Quontic CD

Member FDIC.
APY:
3.50%
Term:
6 Months
Min. Deposit:
$500
Open Account for

On Quontic's Secure Website.

Unlike other banking products we evaluate, certificates of deposit (CDs) do not receive a star rating from us. This approach is due to the frequent updates in interest rates and terms associated with CDs. Instead, we highlight CDs on our best-of list pages based on their annual percentage yield (APY) and the fees associated with early withdrawals. Our top CD selections typically offer competitive APYs without complex qualification tiers, low early withdrawal penalties, reliable strong brand reliability, and user-friendly features.

Motley Fool Money focuses exclusively on standard CDs and does not review IRA CDs, bump-up CDs, callable CDs, or other specialized CD accounts.

Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.

Unlike other banking products we evaluate, certificates of deposit (CDs) do not receive a star rating from us. This approach is due to the frequent updates in interest rates and terms associated with CDs. Instead, we highlight CDs on our best-of list pages based on their annual percentage yield (APY) and the fees associated with early withdrawals. Our top CD selections typically offer competitive APYs without complex qualification tiers, low early withdrawal penalties, reliable strong brand reliability, and user-friendly features.

Motley Fool Money focuses exclusively on standard CDs and does not review IRA CDs, bump-up CDs, callable CDs, or other specialized CD accounts.

Our aim is to maintain a balanced list featuring top-scoring products from reputable brands offering competitive APYs and standout features. Learn more about how Motley Fool Money rates bank accounts.

Expert insights on CD rates
Image of reviewer

The Federal Reserve cut interest rates three times in 2025, bringing borrowing costs down meaningfully from their peak. For 2026, most forecasts point to either a slower easing cycle or a pause as policymakers wait to see how the economy responds.

One way to lock in current rates is through a certificate of deposit (CD). They're particularly attractive for money you know you'll need at a certain time in the near future, such as a down payment for a home or retirement income a few months or years from now.

Because CDs offer a fixed return, your balance isn't exposed to the day-to-day swings of the stock or bond markets. If a CD fits your timeline and goals, it can make sense to act sooner rather than later as the rate environment continues to shift.

-Robert Brokamp, Certified Financial Planner® and Senior Advisor at The Motley Fool

Best CD accounts by category

Best for flexibility: Synchrony Online CD

Rates as of April 29, 2026

APY = Annual Percentage Yield

Offer image for Synchrony Online CD
Synchrony Online CD
Bottom Line

Perhaps one of the lesser-known names on the list, Synchrony (Member FDIC) is a full-line bank with a 90-year history. Synchrony's CDs are notable for competitive rates at most term lengths, plus no minimum balance requirements.

MINIMUM DEPOSIT $0
Open Account for Synchrony Online CD

On Synchrony Bank's Secure Website.

9 Mo. APY 13 Mo. APY 1.5 Yr. APY 2 Yr. APY 3 Yr. APY 4 Yr. APY 5 Yr. APY
4.00% 3.80% 3.70% 3.50% 3.60% 3.50% 3.75%

Why we like it: Synchrony Bank is a 90-year-old institution with one of the most well-rounded CD programs we've evaluated. It actually was the winner in two categories in Motley Fool Money's 2026 Banking Awards -- It won Best Bank for CDs, and Editors' Choice: Best for CD Laddering awards. Synchrony Bank consistently offers high APYs at virtually every term length, $0 minimum balance requirement, and a rare combination of CD options that give you actual strategic flexibility.

Who it's best for: Savers who want a top APY, but especially those who want to spread money across multiple terms and manage everything with a single login. Synchrony Bank's lineup is deep enough to cover short, mid, and long-term CDs all in one place -- and if you're the type who rolls maturing CDs right back into new ones, this is a natural home base.

Read more about Synchrony Online CDs

Best for short-term CDs: Western Alliance Bank CD

Rates as of April 29, 2026

APY = Annual Percentage Yield

Offer image for Western Alliance Bank CD
Western Alliance Bank CD
Bottom Line

Western Alliance Bank offers some of the highest APYs we've seen across short-term CDs through the Raisin platform. Its CDs have low $1 minimums, and relatively low withdrawal penalties without any additional fees. But you will need to look elsewhere for terms longer than one year.

MINIMUM DEPOSIT $1
Open Account for Western Alliance Bank CD

On Raisin's Secure Website.

3 Mo. APY 4 Mo. APY 6 Mo. APY 9 Mo. APY 1 Yr. APY
3.00% 3.00% 3.00% 3.00% 3.00%

Why we like it: Western Alliance Bank is one of the better-kept secrets in short-term CDs, available through the Raisin platform. It offers some of the highest APYs in the market on terms from 3 to 12 months, a $1 minimum deposit, and low early withdrawal penalties.

Who it's best for: Savers with short-term goals like an upcoming home project, a planned large purchase, or any financial milestone that's 6-12 months out. A short-term Western Alliance Bank CD from Raisin lets you lock in a guaranteed return and earn something meaningful in the meantime.

Read more about Western Alliance Bank CDs

Best for no minimum deposit: Barclays Online CD

Rates as of April 29, 2026

APY = Annual Percentage Yield

Offer image for Barclays Online CD
Barclays Online CD
Bottom Line

Barclays offers competitive rates on most common CD terms with no minimum balance requirements. There are no monthly fees, so you likely won't lose money unless you try to withdraw your funds early. Those interested in building longer-term CD ladders will find plenty to like here.

MINIMUM DEPOSIT $0
Open Account for Barclays Online CD

On Barclays' Secure Website.

6 Mo. APY 9 Mo. APY 1 Yr. APY 1.5 Yr. APY 2 Yr. APY 3 Yr. APY 4 Yr. APY 5 Yr. APY
3.50% 3.50% 3.25% 3.00% 3.00% 2.50% 2.50% 2.00%

Why we like it: Barclays brings institutional credibility to a product most big banks have let go stale. Its CDs have a $0 minimum deposit requirement, no monthly fees, and some of the better short-term rates we've seen in 2026.

Who it's best for: Savers with smaller lump sums to commit and those who want guaranteed returns. Whether you're working with $500 or $5,000, you're earning the same competitive APY. If you're also holding a Barclays online savings account, the two pair nicely together: lock in a guaranteed rate on the CD side, keep some cash liquid and accessible on the savings side.

Read more about Barclays Online CDs

Best for longer-term CDs: Quontic CD

Rates as of April 29, 2026

APY = Annual Percentage Yield

Offer image for Quontic CD
Quontic CD
Bottom Line

Quontic Bank offers CDs with terms ranging from six months to five years. It offers most of the terms one would expect, though it is missing a 4-year CD, so it may not be ideal for those hoping to build a CD ladder. Its rates are competitive, especially on its longer term CDs, and its minimum deposit is more affordable than what you see with some other top banks.

MINIMUM DEPOSIT $500
Open Account for Quontic CD

On Quontic's Secure Website.

6 Mo. APY 1 Yr. APY 2 Yr. APY 3 Yr. APY 5 Yr. APY
3.50% 3.00% 3.15% 2.85% 2.75%

Why we like it: Quontic holds its own across the full term spectrum -- short, mid, and long-term CDs -- with rates that compete well against bigger names. The $500 minimum deposit is reasonable and frankly lower than a lot of banks in this tier. Just know that early withdrawal penalties are stricter than average, so this is a CD for people who mean to lock money up for full terms.

Who it's best for: Savers who've done the math, know exactly when they'll need the money, and want a competitive APY. If you're self-employed, a freelancer, or a real estate investor, Quontic is worth getting to know beyond just CDs. It specializes in non-traditional mortgage products (like portfolio loans and lite documentation home loans) that require far less standard paperwork than most lenders demand.

Read more about Quontic CDs

How to choose the best CD for you

Not all CDs are created equal, and the best one for you depends on a few key factors. Here's what to keep in mind before you lock in your cash:

  • APY (annual percentage yield): The golden number. The higher the APY, the more your money grows -- simple as that. But don't just chase the highest rate. Make sure the term length, deposit requirements, and the bank itself align with your needs.
  • Term length: How long can you live without touching this money? CD terms range from a few months to several years, and once your cash is in, it's staying put. If you think you might need access sooner, opt for a shorter term or look into a high-yield savings account instead.
  • Minimum deposit requirements: Some CDs let you start with just a few bucks, while others require a hefty upfront investment. Generally, higher deposits unlock better rates, but don't stretch yourself too thin. Find a sweet spot between a solid APY and what you can comfortably invest.
  • Early withdrawal penalties: Life happens. If you suddenly need your money before your CD matures, you'll likely face a penalty -- sometimes a few months' worth of interest, sometimes more. If flexibility is a priority, a no-penalty CD might be a better fit.
  • Bank reputation and FDIC insurance: All the banks on our list are FDIC insured, which means up to $250,000 of your money is protected in case of a bank failure. But remember, some of the highest CD rates come from online-only banks. Do a little homework to make sure you're comfortable with their reputation and customer service before committing.

Bottom line? The best CD for you isn't just about the highest rate -- it's about balancing returns, accessibility, and security. Choose wisely, and let your money do the heavy lifting.

Keep reading: How Does a CD Work? A Beginner's Guide

Are CDs better than high-yield savings accounts?

Deciding between a CD and a high-yield savings account depends on your financial goals. Both are solid options, but each offers unique benefits.

What's the difference?

A high-yield savings account offers flexibility -- you can deposit and withdraw funds at any time, with a higher interest rate than a regular savings account. A CD locks your money away for a set period, usually offering a better rate in return. The downside? You can't access your funds without penalties until the term ends.

Which one's right for you?

A high-yield savings account is best for flexibility, allowing easy access to your funds without penalties.

A CD is ideal if you're okay with locking your money up for a fixed term to earn a higher interest rate.

Both have their perks. If you want higher returns and can commit your cash for a while, a CD is the way to go. If you need flexibility and want to keep your options open, a high-yield savings account is a solid choice. It all comes down to how much access you need to your money.

Decided you'd rather have a high-yield savings account? See our favorite HYSAs here.

How to open a CD account in five steps

Opening a CD is simple and can be done in just a few steps. Here's how.

1. Compare CD rates and terms

First things first, shop around to find the best APY. Look for a rate that matches your financial goals, whether you're in it for a short-term (6-12 months) or long-term (3-5 years) commitment. The longer the term, the higher the rate, generally.

Make sure to check the minimum deposit requirements and any early withdrawal penalties -- you don't want to get stuck if life throws you a curveball.

2. Choose a bank or credit union

Next, you'll need to decide where to open your CD. Online banks tend to offer better rates because they don't have the overhead costs of physical branches. If you're more comfortable with in-person service, a traditional bank or credit union might be your jam. Either way, make sure the bank you choose is reliable and gives you the customer support you need.

3. Apply online or in-person

When you've picked the bank, it's time to apply. If you're going the online route, the process is quick and easy -- no need to leave your couch. But if you prefer a little face-to-face interaction, visit a branch and get help with your application in person. You'll need to provide some personal details, like your ID and contact info, to get the ball rolling.

4. Fund your CD

Once you're approved, it's time to fund your CD. You'll need to deposit the required amount -- either by transferring funds from an existing account or writing a check. Make sure you meet the minimum deposit to kick off your CD.

5. Monitor maturity dates and renewal options

After your CD is up and running, keep track of the maturity date. When your term ends, you'll need to decide whether you want to withdraw your cash, roll it over into a new CD, or transfer it to another account. Some banks will auto-renew your CD, so it's a good idea to check in before that happens to make sure you're still getting the best deal.

Banks we monitor

  • Alliant, Ally, All America Bank, American First Credit Union, American Express National Bank (Member FDIC), Arvest Bank, Aspiration, Axos Bank, B2 Bank, Bank of America, Bank5 Connect, Bank7, Barclays, Bask Bank, Betterment, Bluevine, BMO Bank, Bread Financial, Capital One, Carver Federal Savings Bank, Charles Schwab Bank, Chase, Chime®, CIT, Citibank, Citizens, Citizens Savings Bank, Columbia Bank, Connexus Credit Union, Consumers Credit Union, Copper, Cross River Bank, Customers Bank, Discover® Bank, E*TRADEEdward Jones, EverBank, Fidelity, Fifth Third Bank, First Foundation Bank, First Internet Bank of Indiana, First National Bank, First Tech Federal Credit Union, Flushing Bank, Freedom Bank, Generations Bank, GN Bank, Golden 1 Credit Union, Greenlight, Harborstone Credit Union, HSBC, Huntington Bank, Ivella, Jenius Bank, Kabbage by American Express, KeyBank, Laurel Road, LendingClub, Liberty Bank, Liberty Federal Credit Union, Marcus by Goldman Sachs, Mercury, Municipal Credit Union, Mutual of Omaha, My Banking Direct, NASA Federal Credit Union, Nationwide Bank, Navy Federal Credit Union, NBKC Bank, New York Community Bank, NexBank, Northpointe Bank, Novo, OceanFirst Bank, Old National Bank, ONE Finance, OneUnited Bank, Oxygen, Pacific Western Bank, PNC Bank, Ponce Bank, Popular Direct, Presidential Bank, Prime Alliance Bank, Quontic, Radius, Raisin, Redneck Bank, Regions Bank, Relay, Republic Bank of Chicago, Revolut, Salem Five Bank, Sallie Mae, Santander Bank, SchoolsFirst Federal Credit Union, Simple, SoFi®, Synchrony Bank, TAB Bank, TD Bank, Third Federal, Truist Bank, U.S. Bank, UFB, Upgrade, USAA, Valley Bank, Vanguard, Varo Bank, Vio Bank, Wealthfront, Wells Fargo, Western Alliance Bank, and Zeta.

FAQs

  • Not under normal circumstances. CDs from FDIC-insured banks protect deposits up to $250,000 per depositor, per bank. The one exception is if you have to pay an early withdrawal penalty that's bigger than any interest you've accumulated -- this will be taken out of your principal.

  • While it's hard to predict exact movements, CD rates generally follow the trends of the Federal Reserve. Most forecasts currently point to a hold or modest increase in 2026, with no dramatic movement expected in either direction.

  • You typically have a short grace period (e.g., seven to 10 days) to withdraw funds, redirect, or renew for another term. If you do nothing, most banks will auto-renew your CD into a new term at whatever rate is current at that moment.