Find out how much you can earn by locking in a high CD rate today. A certificate of deposit (CD) allows you to lock in your savings at a competitive rate and help grow your balance. However, rates vary widely among financial institutions, so it’s important to make sure you’re getting the best rate possible when shopping around for a CD. Below is a breakdown of today’s CD prices and where to find the best deals.
Historically, long-term CDs have offered higher interest rates than short-term CDs. Generally, this is because banks will pay better rates to encourage savers to keep their money on deposit longer. However, in the current economic climate, the opposite is true.
As of March 8, 2026, the highest CD rate is 4% APY. This rate is quoted by Marcus from Goldman Sachs on its 1-year CD.
The amount of interest you can earn from a CD depends on the annual percentage rate (APY). This is the amount of your total income after one year when taking into account the base interest rate and how often interest is compounded (CD interest is usually compounded daily or monthly).
Say you invest $1,000 in a one-year CD with a 1.55% APY, and interest compounds monthly. At the end of this year, your balance will increase to $1,015.61 – your original $1,000 deposit, plus $15.61 in interest.
Now let’s say you choose a one-year CD that offers 4% APY instead. In this case, your balance would grow to $1,040.74 over the same period, which includes $40.74 in interest.
The more you deposit into a CD, the more you stand to earn. If we take the same example for a one-year CD with a 4% APY, but deposit $10,000, your total balance when the CD matures will be $10,407.42, which means you’ll earn $407.42 in interest. of the
Read more: What is the price of a good CD?
When choosing a CD, the interest rate is usually top of mind. However, price is not the only factor you should consider. There are many types of CDs that offer different benefits, although you may need to accept a lower interest rate in exchange for more flexibility. Here’s a look at some common types of CDs you might want to consider beyond traditional CDs:
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Jump Up CD: This type of CD allows you to request a higher interest rate if your bank rates rise during the term of the account. However, you are usually only allowed to “bump” your price once.
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No penalty CD: Also known as a liquid CD, this type of CD gives you the option to withdraw your money before maturity without paying a penalty.
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Jumbo CD: These CDs require high minimum deposits (usually $100,000 or more), and often offer high interest rates in return. In today’s CD pricing environment, however, the difference between traditional and jumbo CD prices may not be much.
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Brokered CD: As the name suggests, these CDs are purchased through a brokerage rather than directly from a bank. Brokered CDs can sometimes offer higher rates or more flexible terms, but they also carry more risk and may not be FDIC insured.
