Top CD rates reach 4.50% APY as big-bank offers hit 4.25%

Popular Direct leads Fortune and Curinos' overall rankings, while American Express tops the major-bank list, highlighting how 2025 Fed cuts and lower online-bank costs shape the trade-off between brand familiarity, term choice and yield.

19d ago

Summary

As of Aug. 7, 2026, the best certificates of deposit in Fortune's Curinos-based ranking pay up to 4.50% APY, with Popular Direct leading the listed 3-year, 4-year and 5-year terms, while a separate Aug. 6 comparison of major U.S. banks based on FDIC figures shows yields up to 4.25% APY led by American Express. Citibank and Capital One each offer 4.00% for 12 months, Wells Fargo lists 3.74% for 15 months or 4.00% as a relationship rate, and Chase and Bank of America each show 3.80% on jumbo CDs. The reports say banks have trimmed some CD yields after the Federal Reserve's 2025 rate cuts, making term selection, early-withdrawal penalties, minimum deposits and FDIC or NCUA insurance important as savers weigh big-bank convenience against typically higher online-bank returns.

Terms & Concepts

APY: Annual percentage yield, the yearly return on a deposit including the effect of compounding.
FDIC and NCUA insurance: U.S. federal deposit protection for insured banks and credit unions, generally covering up to $250,000 per depositor per ownership category at each institution.
CD laddering: A strategy of spreading cash across CDs with different maturity dates so funds become available at regular intervals while preserving fixed rates.