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The top CD rate in the US has climbed to 4.30%

CD rates have once again drawn attention in the US savings market as of August 29, 2026. In the latest comparison, the highest rate stands at 4.30% APY, offered by Synchrony Bank’s 16-month product and Marcus by Goldman Sachs’ 18-month product.

The Federal Reserve (Fed) cut its policy rate three times in 2025. With no change in rates in 2026, savers have become more eager to lock in current competitive yields before they decline further. Data show the most attractive offers are generally concentrated in terms of about one year or less, with online banks and credit unions particularly prominent at the top of the list.

How APY differences affect investor returns

APY, or annual percentage yield, reflects both the base interest rate and compounding. In CD products, interest is typically compounded daily or monthly, so even small differences in rates can have a meaningful impact on total returns over the same term.

  • If $1,000 is placed in a one-year CD with monthly compounding at 1.52% APY, the ending balance would be $1,015.20 and the interest earned would be $15.20.
  • If the same $1,000 is invested in a one-year CD offering 4% APY, the ending balance would rise to $1,040.74 and the interest earned would reach $40.74.
  • With a $10,000 deposit, the same 4% APY example would produce an ending balance of $10,407.42 and interest earnings of $407.42.

Not just the rate: product structure also matters

While the yield is the first thing investors look at, flexibility and risk are also important when choosing a CD. Alongside traditional products, the market also offers options tailored to different needs.

  • Bump-up CD: If bank rates rise, it can allow the holder to move to a higher rate once during the term.
  • No-penalty CD: Also known as a liquid CD, this structure does not charge an early withdrawal penalty.
  • Jumbo CD: It typically requires an initial deposit of at least $100,000 and can offer higher rates, although the advantage may be limited in the current market.
  • Brokered CD: Purchased through a brokerage rather than directly from a bank, it may sometimes offer higher rates or more flexible terms, but it can carry more risk and is not always covered by FDIC insurance.

In comparisons, 6-month, 1-year, 18-month and 2-year terms stand out, with CDs around 18 months appearing to offer a balance between yield and flexibility. This suggests that short- and medium-short-term savings tools are likely to remain on investors’ radar while the Fed maintains its wait-and-see stance.

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