Best CD Rates of October 2026: Up to 5.00% APY
Our top pick right now is E*TRADE CDs (Morgan Stanley Private Bank), rated 4.7 out of 5. Up to 4.80% APY on 2 to 5 year CDs with no minimum deposit, from Morgan Stanley Private Bank. The rate is the one in effect when your money arrives. We compared 15 accounts on the same scorecard; figures checked Oct 28, 2026.
How we make money: Some links on this page may earn us a commission. That never affects our scores or the order of our picks, which follow our published methodology. Advertiser disclosure
Top CD Rates for October 29, 2026
E*TRADE CDs (Morgan Stanley Private Bank)
Best long term CD with no minimum
Barclays Online CD
Best for lighter penalties
Synchrony Bank CDs
Best range of terms with no minimum
Capital One 360 CDs
Best no minimum CD from a big bank
Marcus by Goldman Sachs High Yield CD
Best rate guarantee
Bread Savings CD
Best rates across termsCFG Bank CDs
Top 2 year CD with a low minimum
Happen Bank CD
Best 2 year rate
American Express CDs
Best 10 month CD
Always.bank CDs
Best range of terms
Service Credit Union Share Certificates
Best 12 month rate
Sallie Mae Bank CDs
Best 5 year CD rate
Ivy Bank CDs
Best short term CDPopular Direct CDs
Best for larger deposits
Peak Bank CDs
Best for Peak saversNo accounts match these filters.
Rates are variable and can change at any time. APYs are accurate as of the date shown and each figure is checked against the provider’s website. See each provider’s terms and conditions for full details.
Our top picks, in detail
Ranked by our overall score. How we score
Why it’s here: It pays 4.80% APY on 24, 36 and 60 month CDs and 4.55% on 12 months, with no minimum deposit.
Good for
- 4.80% APY on 2, 3 and 5 year terms
- No minimum deposit
- Backed by Morgan Stanley Private Bank
Worth knowing
- Rate is set when funds settle, not when you apply
- No partial withdrawals
- Penalty days are not listed on the rate page
Why it’s here: It pays 4.50% APY for 12 months and 4.75% for 24 and 60 months with no minimum deposit, and penalties are 90 days of interest on terms up to 2 years.
Good for
- 4.50% APY for 12 months and 4.75% for 24 and 60 months
- No minimum deposit
- Lighter penalties than most on terms up to 2 years
Worth knowing
- 9 month term pays less (4.00% APY as of Oct 7, 2026)
- Lower rated app than most banks we track
- No phone support after 8pm ET
Why it’s here: It pays 4.75% APY on 60 months and 4.65% on 36 and 48 months, with no minimum deposit.
Good for
- No minimum deposit
- 4.50% APY on a 9 month CD
- Many terms, including no penalty and bump up CDs
Worth knowing
- 365 day penalty on 4 and 5 year CDs
- 3 month and no penalty CDs pay very little
- Cannot add money during the term
Why it’s here: It pays 4.50% APY on 11 and 14 month CDs with no minimum deposit and a 3 to 6 month interest penalty.
Good for
- 4.50% APY on 11 and 14 months
- No minimum deposit
- Lighter penalties than most
Worth knowing
- Long terms pay much less (3.50% to 3.60%)
- Cannot add money during the term
- 12 month CD pays less than 11 or 14 months
Why it’s here: It pays 4.40% APY on every term from 12 months to 6 years, and matches a higher rate if one appears within 10 days of opening.
Good for
- 4.40% APY on every term from 12 months to 6 years
- 10 day rate guarantee after opening
- 24/7 support and a top rated app
Worth knowing
- 6 month term pays less (3.95% APY as of Oct 7, 2026)
- 270 day penalty on terms over 5 years
- $500 minimum deposit
Why it’s here: It pays 4.45% APY for 1 year and 4.85% for 18 months and 4.60% for 5 years, with rates above 4.30% on most terms. The $1,500 minimum and 365 day penalty on long terms are the catch.
Good for
- Up to 4.85% APY for 18 months
- Strong rates across every term
- Deposits up to $1 million
Worth knowing
- $1,500 minimum deposit
- 365 day penalty on 4 and 5 year CDs
- Penalties can reduce your principal
Why it’s here: It pays 4.82% APY on 2, 3 and 5 year CDs and 4.65% on 12 months with a $500 minimum deposit.
Good for
- 4.65% APY on 12 months
- Only $500 to open
- Up to $500,000 per CD
Worth knowing
- Only five terms
- No withdrawals in the first 30 days; penalty amount not listed
- Smaller bank with fewer reviews
Why it’s here: Its 2 year CD pays 4.76% APY, its 11 month term pays 4.40% and its 6 month term 4.30%. Penalties are moderate at 90 to 180 days of interest.
Good for
- 4.76% APY on the 2 year CD
- 4.65% APY on the 11 month term and 4.40% on 6 months
- Moderate early withdrawal penalties
Worth knowing
- 12 month rate is lower at 3.50%
- Maximum deposit of $500,000
- No phone support on Sundays
Why it’s here: It pays 4.40% APY on 10 and 22 month CDs with no minimum deposit.
Good for
- 4.40% APY on 10 and 22 months
- No minimum deposit
- Highly rated app and 24/7 support
Worth knowing
- Most other terms pay 2.25% to 3.65%
- Steep penalties, up to 540 days
- Penalty can reduce principal
Why it’s here: Its 12 month CD pays 4.15% APY and every term from 6 to 60 months pays at least 3.80% APY, with a $500 minimum.
Good for
- 4.15% APY on the 12 month CD
- Every term from 6 to 60 months pays 3.80% APY or more
- Published penalties and a 10 day rate lock
Worth knowing
- $500 minimum deposit
- Newer brand and app with few reviews
- 120 day penalty on 1 to 3 year terms
Why it’s here: Its 12 month certificate pays 4.10% APY, one of the best one year rates we track, and joining is free through a partner association. Terms beyond 18 months pay much less.
Good for
- 4.10% APY on the 12 month certificate
- Anyone can join for free through a partner association
- Highly rated mobile app
Worth knowing
- Membership step before you can open
- Terms beyond 18 months pay much less
- Early withdrawal penalty terms are not published online
Why it’s here: It pays 5.00% APY on 60 month CDs and 4.50% on 12 to 30 month CDs.
Good for
- 5.00% APY on 5 years
- 4.50% APY from 12 to 30 months
- No monthly fees
Worth knowing
- $2,500 minimum deposit and balance
- Penalty amount not shown on the rate page
- Short terms (6 and 9 months) pay much less
Why it’s here: Its 3 and 6 month CDs pay 4.25% APY and its 1 year CD pays 4.05% APY, with a $1,000 minimum.
Good for
- 4.25% APY on 3 and 6 month CDs
- 4.05% APY for 1 year
- Backed by Cambridge Savings Bank, founded in 1834
Worth knowing
- $1,000 minimum deposit
- 2 to 5 year terms pay much less
- Penalty schedule not shown on the CD page
Why it’s here: It pays 5.00% APY on 60 months and 4.60% on 12 months for deposits of $10,000 or more.
Good for
- 5.00% APY on 60 months
- 4.80% to 4.95% APY on 18 to 48 months
- From Popular Bank, a $15 billion bank
Worth knowing
- $10,000 minimum deposit
- 730 day penalty on the 60 month CD
- 270 day penalty on 12 to 24 month CDs
Why it’s here: Its 12 month CD pays 3.69% APY with a $500 minimum, managed in the same highly rated app as Peak Bank Envision savings.
Good for
- 3.69% APY on the 12 month CD
- $500 minimum deposit
- Same highly rated app as Peak Bank savings
Worth knowing
- Rates trail the top CDs we track
- Only 12, 24 and 36 month terms
- Penalty schedule not published online
No accounts in our current list match this filter yet. We add accounts every week.
Compare side by side
| Account | Rating | Best APY | 12 month APY | Minimum deposit |
|---|---|---|---|---|
| E*TRADE CDs (Morgan Stanley Private Bank) | 4.7 / 5 | 4.80% | 4.55% | $0 |
| Barclays Online CD | 4.7 / 5 | 4.75% | 4.50% | $0 |
| Synchrony Bank CDs | 4.7 / 5 | 4.75% | 4.30% | $0 |
| Capital One 360 CDs | 4.7 / 5 | 4.50% | 4.00% | $0 |
| Marcus by Goldman Sachs High Yield CD | 4.6 / 5 | 4.40% | 4.40% | $500 |
| Bread Savings CD | 4.4 / 5 | 4.85% | 4.45% | $1,500 |
| CFG Bank CDs | 4.4 / 5 | 4.82% | 4.65% | $500 |
| Happen Bank CD | 4.4 / 5 | 4.76% | 3.50% | $500 |
| American Express CDs | 4.4 / 5 | 4.40% | 3.65% | $0 |
| Always.bank CDs | 4.3 / 5 | 4.15% | 4.15% | $500 |
| Service Credit Union Share Certificates | 4.3 / 5 | 4.10% | 4.10% | $500 |
| Sallie Mae Bank CDs | 4.2 / 5 | 5.00% | 4.50% | $2,500 |
| Ivy Bank CDs | 4.2 / 5 | 4.25% | 4.05% | $1,000 |
| Popular Direct CDs | 4.0 / 5 | 5.00% | 4.60% | $10,000 |
| Peak Bank CDs | 4.0 / 5 | 3.69% | 3.69% | $500 |
Rates and fees can change at any time. Confirm current terms on the provider’s website before you apply.
CD rates by bank
Every term for each bank we review, checked at the bank’s own website:
- Happen Bank CD rates
- Barclays CD rates
- Marcus CD rates
- Bread Savings CD rates
- E*TRADE CD rates
- Synchrony CD rates
- Sallie Mae CD rates
- Popular Direct CD rates
- CFG Bank CD rates
- Ivy Bank CD rates
- Peak Bank CD rates
- American Express CD rates
- Capital One 360 CD rates
- Always.bank CD rates
- Service Credit Union CD rates
Best CD rates by term: 6 month, 9 month, 1 year, 18 month, 2 year, 3 year, 4 year, 5 year. Have a small amount to start? See the best no minimum CD rates.
How we chose
We compare CDs from online banks and credit unions on the same weighted scorecard. The best rate across a bank’s terms carries the most weight, followed by the 12 month rate, because one year is the term most savers compare. Rate scores use a 4.50% APY benchmark, so a CD paying 4.50% or more earns full marks on rate.
| Factor | Weight |
|---|---|
| Best CD APY | 30% |
| 12 month APY | 20% |
| Penalties and flexibility | 15% |
| Minimum deposit | 15% |
| App and support | 10% |
| Safety | 10% |
Commissions never affect scores or order. Read the full methodology.
How to choose a CD
1. Match the term to when you need the money
A CD locks your money up for a set term. Pick a term that ends before you will need the cash, or split your savings across several terms so some money frees up each year.
2. Compare the APY for your term, not just the headline rate
The best advertised rate is often on one specific term. If you want a different term, check what the bank pays for it. Some banks pay far less on longer terms.
3. Read the early withdrawal penalty
Taking money out early usually costs a set number of days or months of interest. A large penalty can wipe out the extra interest you earned over a savings account.
4. Check the minimum deposit
Some CDs open with $0, others need $500 or more. The rate matters more than the minimum if you have the money, but a lower minimum makes it easier to spread savings across terms.
5. Confirm the insurance
CDs at banks are covered by the FDIC and share certificates at federal credit unions by the NCUA, each up to $250,000 per depositor, per ownership category. We verify coverage for every CD we list.
CD vs. high yield savings account
A CD fixes your rate for the term, so it will not drop if the bank cuts rates. A high yield savings account pays a variable rate but lets you withdraw any time. Many people keep an emergency fund in savings and put money they will not touch for a while in a CD.
Remember: CD rates change often for new deposits. The rates on this page were checked on Oct 28, 2026. Always confirm the current rate, term and penalty on the bank’s website before you open a CD. See which banks raised or cut CD rates recently on our rate change tracker.
Frequently asked questions
What is a CD?
A certificate of deposit is a savings product that pays a fixed rate for a set term, such as 6 months or 1 year. In exchange for the fixed rate, you usually pay a penalty if you withdraw before the term ends.
Are CDs FDIC insured?
CDs at FDIC insured banks are covered up to $250,000 per depositor, per ownership category. Share certificates at federally insured credit unions are covered by the NCUA on the same basis.
What is the difference between a CD and a share certificate?
They work the same way. Credit unions call their CDs share certificates and pay dividends rather than interest. You need to become a member of the credit union to open one.
What happens when a CD matures?
Most banks give you a short grace period to withdraw or move the money. If you do nothing, many CDs renew automatically for a similar term at the rate the bank offers then. Check your bank’s terms before the maturity date.
Is CD interest taxable?
Yes. CD interest is generally taxable as ordinary income in the year it is credited, even if you leave it in the CD. Check with a tax professional for your situation.
How often does BankingPicks update these rates?
We recheck every CD rate on this page at least weekly against the bank or credit union’s own website. Each rate shows the date the institution says it applies.