Rate Comparison
Best CD Rates 2026
A certificate of deposit locks your rate for 6 to 60 months. If the Fed cuts rates this year, a CD lets you keep today's yield. Marcus's 6-month CD leads at 5.25% APY. Ally's No Penalty CD at 4.55% is the best option if you want flexibility. Here is the full comparison.
CD Rate Comparison Table
| Bank | Term | APY | Min. |
|---|---|---|---|
| Marcus by Goldman Sachs | 12-month | 5.10% | $500 |
| Ally Bank No-Penalty CD | 11-month | 4.55% | $0 |
| Capital One 360 CD | 12-month | 5.00% | $0 |
| Ally High Yield CD | 5-year | 4.25% | $0 |
| Marcus by Goldman Sachs | 6-month | 5.25% | $500 |
Rates verified May 2026. Subject to change before account opening. Not financial advice.
HYSA vs CD: Which Should You Choose?
A HYSA gives you full liquidity. You can move money in and out any day. The rate floats with market conditions. When the Fed cuts rates, your HYSA yield drops within weeks.
A CD locks your rate for the full term. If rates drop after you open, you keep earning the locked rate until maturity. If rates rise, you are stuck below market until the CD matures.
The right answer depends on what you think rates will do. For a full breakdown, see our HYSA vs CD guide.
The No-Penalty CD Strategy
Ally's No Penalty CD at 4.55% APY gives you 11 months at a locked rate with the ability to withdraw after 6 days without a fee. It pays less than a standard CD but more than most HYSAs while keeping your options open.
If rates rise significantly before month 11, you can close the CD, withdraw your money, and open a new one at the higher rate. This flexibility is worth the yield trade-off for many savers.
Frequently Asked Questions
What is a CD rate?
A CD (certificate of deposit) rate is the fixed APY a bank pays when you lock your deposit for a set term, typically 3 months to 5 years. The rate is locked on the day you open the CD and does not change until it matures.
Should I get a CD or a HYSA right now?
If you believe interest rates will drop in the next 12 to 24 months, a CD lets you lock in today's rate. If you need liquidity, a HYSA is better. Both pay similar rates today, but a HYSA rate floats while a CD rate is fixed.
What happens if I withdraw from a CD early?
Most CDs charge an early withdrawal penalty of 60 to 270 days of interest, depending on the bank and term. Ally's No Penalty CD is an exception — you can withdraw after 6 days with no fee. Always read the penalty terms before opening.
Is a 5-year CD a good investment right now?
A 5-year CD at 4.25% APY is solid if you expect rates to fall significantly over the next five years. If rates stay high, you may miss out on better rates. Shorter terms (12 to 18 months) offer more flexibility to reinvest at better rates if they rise.
What is a jumbo CD?
A jumbo CD requires a minimum deposit of $100,000. Some banks offer slightly higher rates on jumbo CDs. In 2026, the rate premium over standard CDs is small — often under 0.10%. Standard CDs from Marcus and Ally are competitive for most depositors.