CD Rates Today

The best CD rate today is 4.35% APY, offered by Sallie Mae on its 3-year CD. According to finance.yahoo.com, this rate is available as of Saturday, August 22, 2026, and may be a good opportunity to lock in a competitive rate before interest rates change.

The Federal Reserve has left interest rates alone so far in 2026, after cutting the federal funds rate three times in 2025. This may be the last chance to secure a high CD rate before rates move further. CD rates differ significantly across financial institutions, making it essential to shop around for the best rate.

CD Rates Today, Saturday, August 22, 2026

Generally, the best CD rates are offered on shorter terms of around one year or less. Online banks and credit unions, in particular, offer the top CD rates. The highest CD rate today is 4.35%, offered by Sallie Mae on its 3-year CD.

Here is a look at some of the best CD rates available today:

How Much Interest Can I Earn with a CD?

The amount of interest earned from a CD depends on the annual percentage rate (APY). This measures total earnings after one year, taking into account the base interest rate and how often interest compounds. For example, a $1,000 deposit in a one-year CD with 1.52% APY would grow to $1,015.20 after one year, earning $15.20 in interest.

In contrast, a one-year CD with 4% APY would grow to $1,040.74, earning $40.74 in interest. The more deposited in a CD, the more interest earned. A $10,000 deposit in a one-year CD at 4% APY would earn $407.42 in interest, resulting in a total balance of $10,407.42.

Types of CDs

When choosing a CD, the interest rate is usually the primary consideration. However, other factors should also be taken into account. There are several types of CDs that offer different benefits, often requiring a slightly lower interest rate in exchange for more flexibility. Some common types of CDs include:

• Bump-up CD: allows requesting a higher interest rate if the bank's rates increase during the term
• No-penalty CD: permits withdrawing funds before maturity without penalty
• Jumbo CD: requires a higher minimum deposit, often offering a higher interest rate in return
• Brokered CD: purchased through a brokerage, potentially offering higher rates or more flexible terms, but carrying more risk and possibly not being FDIC-insured.

The difference between traditional and jumbo CD rates may not be significant in today's CD rate environment. According to finance.yahoo.com, it is essential to consider these factors when selecting a CD. The type of CD chosen can impact the interest earned and the flexibility of the investment.