Today, Thursday, November 12, 2026, the highest CD rate is 4.60%, offered by Synchrony Bank on its 15-month CD.
The Federal Reserve’s FOMC committee kept the federal funds rate unchanged after its October 28 meeting, following its September decision to raise it by 25 basis points. These decisions have kept certificate of deposit (CD) rates elevated.
Many expect the Fed to raise rates again in December.
If you’re looking for a secure place to store your savings, a CD may be a great choice. Find out which banks are offering the best CD rates right now.
Banks with the best CD rates today
Many financial institutions now offer competitive rates of 4% APY and up, particularly online banks. 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?
The Federal Reserve decided to keep interest rates steady after its October meeting, following a 25-basis-point hike to 3.75%–4.00% at its September meeting. September’s rate increase marked its first rate hike since 2023.
Current projections suggest Fed officials anticipate one more rate hike before the end of 2026, with rates staying 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:
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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.
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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.
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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.
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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.
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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.
