Best CD Rates of 2026: 6-Month to 5-Year Top Picks
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Certificates of deposit are having a moment in 2026. With the federal funds rate sitting at 4.50–4.75% and many analysts expecting cuts later this year, locking in a 5.50% APY for 12 to 24 months is one of the cleanest risk-free trades on the table. The best CDs in our roundup pay up to 5.50% APY, are FDIC-insured to $250,000, and require minimums as low as $0.
We reviewed 40+ banks and credit unions, weighted yield, term flexibility, early-withdrawal penalty, and account-opening friction, and built the ranking below. Whether you want a 6-month parking spot for a tax refund or a 5-year anchor for an emergency fund ladder, there’s a top pick here for you.
How We Ranked CD Issuers
We pulled posted APYs from each issuer’s disclosure pages on May 1, 2026, and benchmarked them against the FDIC’s national CD averages. Our scoring formula weights yield (50%), term breadth (20%), early-withdrawal penalty severity (20%), and minimum deposit (10%). We give bonus points for jumbo and “no-penalty” CD options and for issuers offering automatic ladder tools.
| Rank | Issuer | 6-Mo APY | 1-Yr APY | 3-Yr APY | 5-Yr APY | Min Deposit |
|---|---|---|---|---|---|---|
| 1 | Bread Savings | 5.25% | 5.50% | 4.85% | 4.50% | $1,500 |
| 2 | NexBank | 5.20% | 5.40% | 4.75% | 4.40% | $10,000 |
| 3 | Sallie Mae | 5.10% | 5.35% | 4.70% | 4.35% | $2,500 |
| 4 | Marcus by Goldman Sachs | 5.05% | 5.30% | 4.65% | 4.30% | $500 |
| 5 | Synchrony Bank | 5.00% | 5.25% | 4.60% | 4.30% | $0 |
| 6 | Discover CDs | 4.95% | 5.20% | 4.55% | 4.25% | $2,500 |
| 7 | CIT Bank | 4.90% | 5.15% | 4.50% | 4.20% | $1,000 |
| 8 | Capital One 360 CD | 4.85% | 5.10% | 4.45% | 4.15% | $0 |
| 9 | Quontic Bank | 4.80% | 5.05% | 4.40% | 4.10% | $500 |
| 10 | Ally Bank | 4.75% | 5.00% | 4.35% | 4.05% | $0 |
Affiliate disclosure: Finacial Qurio may earn a commission when you apply through links in this article. This never affects our rankings — every account is reviewed on the same scoring rubric.
1. Bread Savings — 5.50% on 1-Year
Bread Savings (formerly Comenity Direct) is our top pick across nearly every term length. The 1-year posts at 5.50% APY, and the 6-month is 5.25%.
Pros: Top-of-market rates across terms, $1,500 minimum is reasonable. Cons: Steep early-withdrawal penalty (180 days of interest on terms 1+ years).
2. NexBank — 5.40% on 1-Year (Jumbo CDs)
NexBank requires a $10,000 minimum but rewards larger savers with consistently top-tier rates and a streamlined online application.
Pros: Excellent jumbo CD rates, FDIC-insured. Cons: $10K minimum locks out smaller savers.
3. Sallie Mae — 5.35% on 1-Year
Sallie Mae’s banking arm offers competitive CDs with no monthly fees and reasonable minimums. Strong choice for mid-range terms.
Pros: Wide term selection (6 to 60 months), simple app. Cons: $2,500 minimum is higher than online-bank average.
4. Marcus by Goldman Sachs — 5.30% on 1-Year
Marcus offers a 10-day rate guarantee: if rates rise within 10 days of funding, you get the higher rate automatically. Useful in a volatile-rate environment.
Pros: 10-day rate guarantee, no-penalty CD option, $500 minimum. Cons: Slightly below leaders on raw APY.
5. Synchrony Bank — 5.25% on 1-Year
Synchrony stands out with a $0 minimum across all terms — the most accessible CD on this list.
Pros: $0 minimum, broad term selection, ATM card included. Cons: Customer service availability is narrower than top picks.
6. Discover CDs — 5.20% on 1-Year
Discover’s CD product line covers terms from 3 months to 10 years, an unusually long range.
Pros: Term breadth, no fees of any kind, US-based phone support 24/7. Cons: $2,500 minimum required.
7. CIT Bank — 5.15% on 1-Year
CIT Bank pairs CDs with a strong HYSA, useful if you want everything under one roof.
Pros: No fees, mobile-first experience, builds nicely into a ladder with their HYSA. Cons: $1,000 minimum.
8. Capital One 360 CD — 5.10% on 1-Year
Capital One offers $0 minimum CDs that work seamlessly with their checking and savings.
Pros: $0 minimum, branch access, solid app. Cons: Slightly lower rates than online-only competitors.
9. Quontic Bank — 5.05% on 1-Year
Quontic is a digital community-development bank and a member of the 1% for the Planet network.
Pros: Mission-driven institution, competitive rates. Cons: Smaller bank means slightly thinner customer support.
10. Ally Bank — 5.00% on 1-Year
Ally rounds out the list with $0 minimum CDs, no-penalty CD options, and one of the strongest mobile apps in banking.
Pros: $0 minimum, no-penalty CD, excellent app. Cons: APY trails the top of the list slightly.
➡️ Open at Ally
What $25,000 Earns by Term (Bread Savings Rates)
| Term | APY | Total Interest | Maturity Value |
|---|---|---|---|
| 6 months | 5.25% | $648 | $25,648 |
| 1 year | 5.50% | $1,375 | $26,375 |
| 2 years | 5.10% | $2,613 | $27,613 |
| 3 years | 4.85% | $3,816 | $28,816 |
| 5 years | 4.50% | $6,154 | $31,154 |
How to Choose the Right CD
- Match the term to a real spending date — don’t lock cash you’ll need sooner.
- Compare the APY to current HYSA rates; sometimes a 4.50% HYSA beats a low CD.
- Read the early-withdrawal penalty carefully — 180+ days is severe.
- Consider laddering instead of one big CD to balance liquidity and yield.
- Verify FDIC coverage if you’re depositing more than $250,000.
Recommended Offers
💡 Editor’s pick: Bread Savings 1-Year CD — 5.50% APY, $1,500 minimum. Top yield in our roundup.
💡 Editor’s pick: Marcus 1-Year CD — 5.30% APY with a 10-day rate guarantee — best for cautious savers in a moving-rate market.
💡 Editor’s pick: Synchrony Bank CD — 5.25% APY with a $0 minimum, the most accessible CD on the list.
FAQ — CD Rates
Q: Are CDs FDIC-insured? A: Yes. CDs at FDIC-member banks are insured up to $250,000 per depositor, per ownership category.
Q: What happens if I withdraw early? A: You’ll pay an early-withdrawal penalty, usually 90–365 days of interest depending on the term. Some “no-penalty” CDs waive it entirely.
Q: Can rates change after I open a CD? A: No. Standard CD rates are fixed for the full term — that’s the appeal versus an HYSA.
Q: Are CD rates expected to fall in 2026? A: Most rate forecasts call for modest Fed cuts in late 2026, which would push CD rates lower. Locking in long-term now hedges that risk.
Q: Should I choose a 1-year or 5-year CD? A: A 1-year CD pays more in 2026 because the yield curve is inverted. Use a 5-year only if you specifically want lock-in protection.
Q: How is CD interest taxed? A: As ordinary income in the year it’s paid, even on multi-year CDs.
Related Reading on Finacial Qurio
- Best High-Yield Savings Accounts of 2026
- CD Laddering Strategy: Complete 2026 Guide
- Money Market vs Savings Account
- Savings Account Interest Calculator
- Roth IRA vs Savings Account
Final Verdict
For 2026, the best risk-free move for short-term cash is locking in a 1-year CD at Bread Savings (5.50%) or Marcus (5.30% with rate guarantee). If you want optionality, build a CD ladder with $0-minimum issuers like Synchrony or Ally. For most savers, a blended approach — half in an HYSA, half in a 12- to 18-month CD — captures most of the yield with minimal liquidity risk.
This article is for informational purposes only and is not financial advice. APYs, terms, and account features are accurate as of publication and subject to change. Finacial Qurio may receive compensation for some placements; rankings are independent.
By Finacial Qurio Editorial · Updated May 9, 2026
- savings
- CD rates
- 2026
- high yield savings