Best CD rates today, Friday, July 17, 2026: Up to 4.10% APY return
CD rates have been declining due to the Fed's decision to cut its benchmark rate, but some banks are still offering competitive rates. The highest CD rate is 4.10% APY, offered by Marcus by Goldman Sachs on its 14-month CD.
Intelligence analysis by Llama
CD rates have been declining, but some banks are still offering competitive rates. The highest rate is 4.10% APY, offered by Marcus by Goldman Sachs on its 14-month CD.
Imagine you have money you want to save, but you also want to earn some interest. A CD is like a special kind of savings account that lets you earn interest, but you have to keep your money locked in it for a certain amount of time. If you take your money out early, you might lose some of the interest you earned.
Analysis
CD Rates Decline Amid Fed Rate Cuts
The Federal Reserve's decision to cut its benchmark rate three times in 2024 and three times in 2025 has led to a decline in CD rates. Despite this, some banks are still offering competitive rates, with the highest rate reaching 4.10% APY. This rate is offered by Marcus by Goldman Sachs on its 14-month CD.
Online Banks Offer Competitive Rates
Online banks and neobanks have lower overhead costs than traditional brick-and-mortar banks, allowing them to pass the savings on to their customers in the form of higher interest rates on deposit accounts, including CDs. If you're looking for the best CD rates available today, an online bank is a great place to start.
Credit Unions Also Offer Competitive Rates
Credit unions are not-for-profit financial cooperatives that return their profits to customers, who are also member-owners. Although many credit unions have strict membership requirements, there are also several credit unions that just about anyone can join. Credit unions are worth checking for competitive CD rates.
Should You Open a CD?
Whether or not you should put your money in a CD depends on your savings goals. CDs are considered a safe and stable savings vehicle, but there are some drawbacks to consider. You must keep your money on deposit for the full term, otherwise you'll be subject to an early withdrawal penalty. If you want flexible access to your funds, a high-yield savings account or money market account might be a better choice.
Key points
- CD rates have been declining due to the Fed's rate cuts
- Some banks are still offering competitive CD rates, with the highest rate reaching 4.10% APY
- Online banks and credit unions offer competitive CD rates
- CDs are considered a safe and stable savings vehicle, but have some drawbacks
If the Fed continues to leave rates unchanged, some banks may offer even higher CD rates in the future. This could be a good opportunity for savers to earn higher returns on their money.
If the economy experiences a downturn, CD rates may decline further. This could be a risk for savers who have invested in CDs, as they may not earn as much interest as they had hoped.
