Today's Best CD Rates, March 5, 2026 (Lock Up to 4% APY)

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Find out which banks are offering the best CD rates right now. If you are looking for a safe place to store your savings, a certificate of deposit (CD) may be the best option. These accounts often provide higher interest rates than traditional checking and savings accounts. However, CD rates can vary widely.

Learn more about where CD prices stand today and how to find the best prices.

CD rates are relatively high compared to historical averages. That said, CD rates have been on the decline since last year when the Federal Reserve began lowering its target rate. The good news is that many financial institutions offer competitive rates of 4% APY and above, especially online banks.

Today, the highest CD rate is 4% APY. This rate is quoted by Marcus from Goldman Sachs on its 1-year CD.

Here’s a look at some of the best CD prices available today from our verified partners:

The Federal Reserve began cutting the federal funds rate in light of slowing inflation and an overall improving economic outlook. It lowered its target rate by a total of one percentage point three times in late 2024.

In December, the Fed announced a third rate cut in 2025 and additional cuts may be on the horizon in 2026. However, it is unclear when this will happen and how much tapering the Fed plans to do.

The federal funds rate does not directly affect deposit interest rates, although they are related. When the Fed lowers rates, financial institutions typically follow suit (and vice versa). So now that the Fed has lowered its rate, CD rates are falling again. That’s why now might be a good time to put your money in a CD and lock in today’s best rates.

The process for opening a CD account varies by financial institution. However, there are a few general steps you can expect to follow:

Research CD Prices: One of the most important factors to consider when opening a CD is whether the account offers a competitive rate. You can easily compare CD prices online to find the best deals.
Choose an account that meets your needs: While the CD interest rate is an important consideration, it should not be the only one. You should also evaluate the CD’s term length, minimum opening deposit requirements, and fees to ensure that a particular account fits your financial needs and goals. For example, you want to avoid choosing a CD term that’s too long, otherwise you’ll face early withdrawal penalties if you need to withdraw your money before the CD matures.
Prepare your documents: When opening a bank account, you’ll need to provide a few pieces of information, including your social security number, address, and driver’s license or passport number. Having these documents will help streamline the application process.
Complete the application: These days, most financial institutions allow you to apply for an account online, although you may have to visit a branch in some cases. However, the application for a new CD should only take a few minutes to complete. And in most cases, you will receive your approval decision immediately.
Fund the account: Once your CD application is approved, it’s time to fund the account. This can usually be done by transferring money from another account or sending a check.