Best CD rates today, Jan. 28, 2026: Earn up to 4.18% APY if you lock in now

The Federal Reserve lowered its benchmark federal funds rate three times in 2025, prompting many banks to reduce rates on CDs and savings accounts accordingly. This makes locking in a CD at today’s still-relatively-favorable rates a smart decision.

The top-performing option in our current lineup is the 3-month CD from Citibank, which provides 4.18%. But, as the rates Citi offers on its CDs can vary based on your location, some savers may wish to look to the 6-month CD from Northern Bank Direct with its 4.15% APY.

We’ve compiled a list of CDs with durations between 1 month and 10 years, working in partnership with financial data and analytics company Curinos, to help you identify the CD best suited to your circumstances.

Best CD rates today

Here are the highest CD rates as of Jan. 28, 2026:

Today’s best CD rates by term

What the Fortune/Curinos partnership means for your CD strategy

To put this list together, Fortune works with Curinos, a firm that brings decades of experience to the table in the financial data and analytics space. Each business day, we get a report from Curinos featuring CD rates from a broad lineup of financial institutions. We use this report to compile our list of the top-yielding CD accounts currently on the market.

Pro tip

Looking for the best CD to fit your investment needs? See rates from top institutions:
–Wells Fargo
–Capital One
–Chase
–Bank of America
–Discover Bank
–Northern Bank Direct
–Ally Bank
–Newtek Bank
–Popular Direct
–Citibank
–Sallie Mae Bank

How much interest could you earn with a CD?

Your CD earnings will depend on multiple factors: your initial investment, your selected term, the the APY you lock in, and compounding frequency. To show why it’s worth hunting for a CD with the highest APY you can find for your desired term, take a look at the following examples. Our hypotheticals assume you start with a $5,000 deposit and that your interest compounds monthly.

Term	APY	Estimated Interest
1 year	1.64%	$82.62
1 year	4.00%	$203.71
5 years	1.34%	$346.28
5 years	3.80%	$1,044.43

1 year
APY	1.64%
Estimated Interest	$82.62
1 year
APY	4.00%
Estimated Interest	$203.71
5 years
APY	1.34%
Estimated Interest	$346.28
5 years
APY	3.80%
Estimated Interest	$1,044.43

It’s clear from the examples here that spending a little time seeking out a competitive rate can potentially mean earning hundreds of dollars more in interest compared to taking a lower rate from a traditional brick-and-mortar institution just because you already bank there.

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Historical CD rates

Back in the early 1980s, CDs reached double-digit returns—very different from what we see in today’s environment. Jumping ahead to 2019, the five-year CD rate hovered just above 3.00%.

CD rates climbed above 5.00% in the early part of the 2020s as the nation recovered from Covid-19. Now, in the years since, we largely see CD rates hitting the 3.00%-4.00% range at most.

Here’s a look at how CD rates for various terms fluctuated over the course of 2025, according to FDIC numbers. Note that on our list, you’ll find typically rates much higher than the average yield for any given term.

Why the federal funds rate matters for CD yields

Currently, the federal funds rate sits at 3.50%-3.75%. The Federal Open Market Committee (FOMC) holds eight sessions each year, with the next one coming on Jan. 27-28.

Experienced investors recognize that CD yields oftentimes follow the Federal Reserve’s monetary policy moves, specifically adjustments to the fed funds rate. This is the rate banks charge when lending to each other overnight.

Put simply, when the Fed wants to make borrowing less expensive, it reduces the federal funds rate. When the central bank wants to make borrowing costlier, it raises the rate. During the pandemic, as an example, the Fed dropped this rate almost to zero to ward off recession. As inflation then became the key problem, the Fed responded with multiple rate increases.

How to choose the best CD for you

The length of time you can afford to keep your money invested is the main question, as most CDs impose fees if you withdraw early. You could potentially earn a better APY with a shorter-term option—like a six-month CD—than with a longer one such as a 10-year CD. However, longer-maturity CDs offer better safety against future rate reductions in case the Fed cuts rates again and banks lower their deposit account rates in response.

As you hunt for the highest APY you can find, take note that online-only can usually offer superior rates compared to those with physical branches. Online banks and digital credit unions avoid the significant operational costs associated with physical locations, and they can pass those savings along to customers through higher interest rates.

Consider these important factors when selecting a CD:

• Term length. You can lock away your money for a few months or for several years at a time. Choose the term that best fits with your savings objectives and whether or not you anticipate needing access to the funds in the foreseeable future.
• APY. The historical pattern would suggest longer terms pay more, but this hasn’t consistently held true for recent market activity.
• Required minimum. A high APY does no good if you don’t have enough on hand to meet the minimum deposit requirement, so pick a bank with a starting deposit that fits with what you can afford.
• Early withdrawal penalties. Find out what you’d owe if you need your money before the maturity date.
• Insurance. Confirm that the financial institution has FDIC or NCUA insurance so your savings are safe in case of failure.

When to consider a high-yield savings account instead

If you’re OK knowing that savings account rates can shift on short notice, whereas CDs guarantee your rate for the full term, then a high-yield savings account might be an attractive option because it provides flexibility. When you might need access to your money quickly, such as for an emergency expense, a HYSA provides that liquidity.

Savers will also be happy to see that some of the top high-yield savings accounts offer rates competitive with or even higher than comparable CDs. You can find savings accounts offering APYs between 4.00% and 5.00% as of this writing

The most appealing savings rates typically come from online institutions—for essentially the same reasons mentioned earlier as to why online banks typically outpace traditional banks on CD rates.