PickedFinance
Comparison guide

Best CD rates

A CD locks an APY for a set term in exchange for a penalty if you withdraw early. On Nov 10, 2026, the best rates we found were 5.00% APY for 5 years and 4.60% for 1 year at Sallie Mae, and 4.20% for 6 months at Synchrony.

By PickedFinance Editorial TeamLast updated Rates checked Nov 10, 2026

Disclosure: links on this page currently go straight to each provider’s own site, and we don’t earn a commission from them. If we join a provider’s affiliate program later, that will never change which products we include or how we order them. How we make money.

How this page was made: it’s built from each provider’s own terms, rate and fee pages and from regulator sources, all listed at the bottom. We haven’t opened these accounts or products to test them, and we don’t give scores. Every rate shows the day we checked it. Our methodology.

Quick answer

Short answer: on Nov 10, 2026, Sallie Mae showed the highest 1-year (4.60% APY) and 5-year (5.00%) CD rates we found, with a $2,500 minimum. Synchrony was close (4.40% and 4.80%) with no minimum, and had the best 6-month rate, 4.20%. All five banks here are FDIC-insured; CD rates are fixed once you open.

Last updated Rates checked Nov 10, 2026

Key facts at a glance

Key facts (each rate shows the day we checked it on the provider’s page)
PickProductBest forKey terms
Highest 1-year and 5-year ratesSallie Mae CDsThe highest 1-year and long-term rates, if you have $2,50012-month 4.60% APY as of Nov 10, 2026; 60-month 5.00% APY as of Nov 10, 2026; $2,500 minimum
Best with no minimumSynchrony Bank CDsStrong rates on any term with no minimum deposit6-month 4.20% APY as of Nov 10, 2026; 12-month 4.40% APY as of Nov 10, 2026; 60-month 4.80% APY as of Nov 10, 2026; no minimum
Rate protection after you openMarcus High-Yield CDsLocking in a rate while you move money over12-month to 6-year 4.40% APY as of Nov 10, 2026; $500 minimum
Odd-term specialsAmerican Express CDsSavers who can use a 10- or 22-month term10- and 22-month 4.50% APY as of Nov 10, 2026; no minimum

We read each bank’s CD page on Nov 10, 2026 and recorded the APY for four common terms, the minimum deposit, and the early withdrawal penalty where the page states it. For comparison, the FDIC’s[7][8] national averages (Oct 19, 2026) were 1.39% for 6-month, 1.76% for 12-month, 1.55% for 24-month and 1.41% for 60-month CDs. This page is research-based; we haven’t opened these CDs and we don’t score them.

A CD’s APY is fixed when you open it, but the advertised rate for new CDs changes often, so confirm the current rate before you deposit.

Our picks

Highest 1-year and 5-year rates
Sallie Mae CDs
12-month 4.60% APY as of Nov 10, 2026; 60-month 5.00% APY as of Nov 10, 2026. $2,500 minimum balance.
Visit Sallie Mae (opens in a new tab)
Best with no minimum
Synchrony Bank CDs
6-month 4.20% APY as of Nov 10, 2026; 12-month 4.40% APY as of Nov 10, 2026; 60-month 4.80% APY as of Nov 10, 2026.
Visit Synchrony (opens in a new tab)
Rate protection after you open
Marcus High-Yield CDs
4.40% APY as of Nov 10, 2026 from 12 months to 6 years. 10-Day CD Rate Guarantee; $500 minimum.
Visit Marcus (opens in a new tab)
Odd-term specials
American Express CDs
10-month and 22-month terms at 4.50% APY as of Nov 10, 2026. No minimum.
Visit American Express (opens in a new tab)

How do they compare?

CD APYs by term on each bank’s page, Nov 10, 2026
Bank6-month12-month24-month60-monthMinimum
Sallie Mae Bank3.20% APY as of Nov 10, 20264.60% APY as of Nov 10, 20264.70% APY as of Nov 10, 20265.00% APY as of Nov 10, 2026$2,500 balance
Synchrony Bank4.20% APY as of Nov 10, 20264.40% APY as of Nov 10, 20264.70% APY as of Nov 10, 20264.80% APY as of Nov 10, 2026None
Marcus (Goldman Sachs Bank USA)3.95% APY as of Nov 10, 20264.40% APY as of Nov 10, 20264.40% APY as of Nov 10, 20264.40% APY as of Nov 10, 2026$500
Capital One 3603.30% APY as of Nov 10, 20264.45% APY as of Nov 10, 20263.50% APY as of Nov 10, 20263.60% APY as of Nov 10, 2026None
American Express National BankNot offered (10-month: 4.50% APY as of Nov 10, 2026)3.75% APY as of Nov 10, 20263.75% APY as of Nov 10, 20263.00% APY as of Nov 10, 2026None

The picks in detail

Highest 1-year and 5-year rates

1. Sallie Mae CDs

Best for: The highest 1-year and long-term rates, if you have $2,500

Sallie Mae’s rate table showed 4.60% APY for 12 months, 4.70% for 24 and 30 months, 4.75% for 36 months and 5.00% for 60 months, accurate as of Nov 10, 2026, plus 13-, 15- and 18-month terms between 4.50% and 4.65%. Short terms paid less: 3.20% for 6 and 9 months. You need to keep a $2,500 minimum balance to earn interest. Sallie Mae says “a penalty may be charged for early withdrawal” and points to its account agreement for the amount. CDs renew automatically at maturity unless you act during the grace period. Deposit products are offered through Sallie Mae Bank, Member FDIC[7][8].

Key terms: 12-month 4.60% APY as of Nov 10, 2026; 60-month 5.00% APY as of Nov 10, 2026; $2,500 minimum Sallie Mae terms

Pros

  • Highest 12-month and 60-month APYs we found on Nov 10, 2026
  • Many term options from 6 to 60 months

Cons

  • $2,500 minimum balance
  • Penalty amount isn’t stated on the rate page
  • 6- and 9-month terms pay only 3.20%
Visit Sallie Mae (opens in a new tab)
Best with no minimum

2. Synchrony Bank CDs

Best for: Strong rates on any term with no minimum deposit

Synchrony’s CD table (accurate as of Nov 10, 2026) showed 4.20% APY for 6 months, 4.30% for 9, 4.40% for 12, 4.50% for 18, 4.70% for 24, 4.75% for 36 and 48, and 4.80% for 60 months, with no minimum deposit or balance. A 3-month CD paid just 0.25%. Synchrony states its penalties plainly: 90 days of simple interest for terms of 12 months or less, 180 days for terms over 12 and under 48 months, and 365 days for 48 months or more. Synchrony Bank is a member of the FDIC[7][8].

Key terms: 6-month 4.20% APY as of Nov 10, 2026; 12-month 4.40% APY as of Nov 10, 2026; 60-month 4.80% APY as of Nov 10, 2026; no minimum Synchrony terms

Pros

  • Best 6-month rate we found, and within 0.20 points of the top on 12 and 60 months
  • No minimum deposit or balance
  • Penalties published on the page

Cons

  • 365-day interest penalty on 48- and 60-month CDs
  • 3-month CD pays only 0.25%
Visit Synchrony (opens in a new tab)
Rate protection after you open

3. Marcus High-Yield CDs

Best for: Locking in a rate while you move money over

Marcus showed 3.95% APY for 6 months, 4.30% for 9 months and 4.40% for every term from 12 months to 6 years, effective Nov 10, 2026, with a $500 minimum deposit. Its 10-Day CD Rate Guarantee means that if the rate on your term changes in the first 10 days after you open, you get the higher rate, as long as you deposit at least $500 in that window. Marcus’s table lists an early withdrawal penalty for every term; check its CD terms for the amount. Deposits are with Goldman Sachs Bank USA, Member FDIC[7][8].

Key terms: 12-month to 6-year 4.40% APY as of Nov 10, 2026; $500 minimum Marcus terms

Pros

  • 10-Day CD Rate Guarantee
  • Same rate from 1 to 6 years, so you can go long without giving up yield

Cons

  • $500 minimum deposit
  • Long-term rates trail Sallie Mae and Synchrony
Visit Marcus (opens in a new tab)
Best for A 12-month CD with no minimum at a bank with branches

4. Capital One 360 CDs

Best for: A 12-month CD with no minimum at a bank with branches

Capital One showed 4.45% APY on a 12-month 360 CD, effective Nov 10, 2026, with no minimum deposit and no monthly fees. Other terms were much lower: 3.30% for 6 months, 3.75% for 9 months, 3.50% for 24–48 months and 3.60% for 60 months. Rates are fixed once you open; early withdrawal penalties apply. Products are offered by Capital One, N.A., Member FDIC[7][8].

Key terms: 12-month 4.45% APY as of Nov 10, 2026; no minimum Capital One terms

Pros

  • Competitive 12-month rate with no minimum
  • Branches and Cafés as well as online

Cons

  • Every other term trails the leaders by 0.75 points or more
Visit Capital One (opens in a new tab)
Odd-term specials

5. American Express CDs

Best for: Savers who can use a 10- or 22-month term

American Express showed 4.50% APY on 10-month and 22-month CDs (accurate as of Nov 10, 2026), but 3.75% on 11-, 12-, 14-, 18- and 24-month terms, 2.25% on 36 and 48 months and 3.00% on 60 months. There’s no minimum balance. Its penalties are steep on long terms: 90 days’ interest under 12 months, 270 days for 12 to under 48 months, 365 days for 48 to under 60 months, and 540 days for 60 months or more; Amex warns a penalty can cut into principal. Accounts are offered by American Express National Bank, Member FDIC[7][8].

Key terms: 10- and 22-month 4.50% APY as of Nov 10, 2026; no minimum American Express terms

Pros

  • 4.50% on 10- and 22-month terms
  • No minimum balance

Cons

  • Standard terms (12, 24, 60 months) trail most banks here
  • 540-day interest penalty on 60-month CDs
Visit American Express (opens in a new tab)

Also considered

Ally Bank lists CD rates up to 4.50% APY with no minimum, but its term labels didn’t load in a way we could match to rates, so we left it out of the table rather than guess. Barclays lists CD terms on its savings page, but its CD rate page returned “page not found” when we checked. CIT Bank’s CD pages didn’t load for us. We’ll add them once we can read their rates directly.

How we chose these banks

We included CDs from FDIC-insured banks that publish their rates and terms on a public page, can be opened online nationwide, and had at least one standard term (6, 12, 24 or 60 months) well above the FDIC[7][8] national average on Nov 10, 2026. We list every term we compared, including weak ones. We earn nothing from any link on this page.

Early withdrawal penalties compared

Penalties decide whether a CD is safe for money you might need. From the banks’ pages: Synchrony charges 90 days of simple interest (12 months or less), 180 days (over 12 to under 48 months) or 365 days (48+ months). American Express charges 90, 270, 365 or 540 days’ interest depending on term. Marcus, Capital One and Sallie Mae say penalties apply and give amounts in their account terms. If a penalty exceeds the interest you’ve earned, it can come out of principal, as Amex notes.

Laddering instead of picking one term

A CD ladder splits your money across several terms (for example 6, 12, 24 and 60 months) so part of it matures regularly. On Nov 10, 2026, longer terms paid only a little more than 12 months at most banks here, so a long CD mainly buys certainty that the rate won’t fall, not a much higher yield.

Who should skip this

  • Your emergency fund. Early withdrawal penalties can be 90 to 540 days of interest. Use a high-yield savings account or a no-penalty CD.
  • Balances above $250,000 at one bank in one ownership category; the excess isn’t FDIC-insured.
  • People in high-tax states comparing short terms: Treasury bills are free of state and local income tax, which can beat a CD with a similar yield.

Frequently asked questions

What is the best 1-year CD rate right now?
Of the banks we checked on Nov 10, 2026, Sallie Mae showed the highest 12-month rate, 4.60% APY with a $2,500 minimum balance. Capital One showed 4.45% and Synchrony and Marcus 4.40%, with lower or no minimums. Rates for new CDs change often.
Are CDs FDIC-insured?
Yes, CDs at FDIC-insured banks are deposits covered up to $250,000 per depositor, per bank, for each ownership category. All five banks on this page are FDIC[7][8] members.
Can a CD rate change after I open it?
Generally no; a CD’s rate is fixed for the term once opened. Capital One, for example, says “CD rates are fixed upon opening the account.” The rate can change when the CD renews.
What happens when a CD matures?
Many banks renew it automatically for a similar term at the then-current rate unless you withdraw or change it during a grace period. Sallie Mae says its CDs renew automatically at the current rate and term after the grace period.
How are CDs taxed?
The IRS[10] lists interest on certificates of deposit as taxable interest. You should receive Form 1099-INT if you were paid $10 or more. Ask a tax professional about your situation.

Sources

Every source below was opened and read for this page (rates last checked Nov 10, 2026). Providers’ own pages are labeled with the provider’s name; regulator pages are labeled with the agency. Rates and terms change often, so confirm on the provider’s site before you apply.

  1. Synchrony Bank: CDs (synchronybank.com, checked Nov 10, 2026)
  2. Sallie Mae: Certificates of Deposit (salliemae.com, checked Nov 10, 2026)
  3. Marcus by Goldman Sachs: High-Yield CDs (marcus.com, checked Nov 10, 2026)
  4. Capital One: 360 CDs (capitalone.com, checked Nov 10, 2026)
  5. American Express: Certificates of Deposit (americanexpress.com, checked Nov 10, 2026)
  6. Ally Bank: High Yield CD (ally.com, checked Nov 10, 2026)
  7. FDIC: National Rates and Rate Caps (October 2026) (fdic.gov, checked Nov 10, 2026)
  8. FDIC: Understanding Deposit Insurance (fdic.gov, checked Nov 10, 2026)
  9. TreasuryDirect: Treasury Bills (treasurydirect.gov, checked Nov 10, 2026)
  10. IRS: Topic no. 403, Interest received (irs.gov, checked Nov 10, 2026)
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Best 1-year CD rates

On Nov 10, 2026, the best 12-month CD rates we found were 4.60% APY at Sallie Mae and Popular Direct, both with minimums. Capital One paid 4.45% with no minimum. The FDIC’s national average was 1.76%.

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CD vs high-yield savings account

A CD trades access for a fixed rate; a high-yield savings account keeps your money available at a rate that can change any time. On Nov 10, 2026, 12-month CDs paid 0.60 to 1.25 points more than the same banks’ savings accounts.

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Treasury bills vs CDs

Treasury bills are short-term U.S. government securities that are exempt from state and local income tax. CDs are FDIC-insured bank deposits with a fixed APY and an early withdrawal penalty. Near-identical yields can come out differently after tax.

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Best no-penalty CDs

A no-penalty CD fixes your rate for the term but lets you take your money out early without an early withdrawal penalty, usually after a short wait. We read each bank’s page on Nov 10, 2026.

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APR vs APY: what’s the difference?

APY (annual percentage yield) tells you what you’ll earn on savings, including compounding. APR (annual percentage rate) tells you what borrowing costs per year. Compare savings by APY and loans or cards by APR, never one against the other.

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FDIC insurance limits, explained

The FDIC limit is $250,000 per depositor, per FDIC-insured bank, for each ownership category. Using more than one category or more than one bank can legally cover far more. Investments such as stocks, funds and crypto aren’t covered at all.