Deposit account rates are currently on the decline, but there is still good news for those looking to lock in a competitive return on a certificate of deposit (CD) today. In fact, some of the best CDs are still offering rates of 4% or higher, providing an opportunity to preserve earning power. Let’s take a closer look at CD rates today and where you can find the best offers.
Where are the best CD rates today?
CDs typically offer rates that are significantly higher than traditional savings accounts. Currently, the best short-term CDs, ranging from six to 12 months, are generally offering rates around 4% APY. The highest CD rate available today is 4.10% APY, offered by Marcus by Goldman Sachs on its 14-month CD.
Here is a snapshot of some of the best CD rates available today, on Tuesday, July 14, 2026, from our verified partners:
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Historical CD rates
Looking back at the history of CD rates, the 2000s were marked by the dot-com bubble and the global financial crisis of 2008. CD rates began to fall as the economy slowed, with the average one-year CD paying around 1% APY by 2009. The trend of declining CD rates continued into the 2010s, especially after the Great Recession, with rates hitting record lows in the aftermath.
However, between 2015 and 2018, the Federal Reserve started gradually increasing rates again, leading to a slight improvement in CD rates as the economy expanded. The onset of the COVID-19 pandemic in early 2020 caused CD rates to fall to new lows, but rates started to rise again as inflation began to spiral out of control. The Fed hiked rates multiple times between 2022 and 2023, resulting in higher rates on savings products, including CDs.
Fast forward to September 2024, the Fed began cutting rates as inflation came under control. Even with rates remaining unchanged in 2026, CD rates are still high by historical standards.
Understanding today’s CD rates
Traditionally, longer-term CDs have offered higher interest rates compared to shorter-term CDs due to the higher risk associated with locking in funds for a longer period. However, the current trend shows that the highest average CD rate is for a 12-month term, indicating a flattening or inversion of the yield curve.
When choosing a CD, it’s essential to consider factors beyond just the APY. Factors such as your financial goals, the type of financial institution offering the CD, account terms, and inflation should all be taken into account to ensure you choose the best CD for your needs and maximize your return.
In conclusion, while deposit account rates may be on the decline, there are still opportunities to secure competitive returns through CDs. By carefully evaluating your options and considering key factors, you can make the most of the current CD rates and preserve your earning power.
