Looking for the best CD rates? Find out which banks are offering the highest rates right now. CD rates have been declining since the Federal Reserve started cutting its target rate last year. However, some financial institutions still offer competitive rates of 4% APY and up.

The Federal Reserve has lowered its target rate three times in late 2024, totaling a one percentage point decrease. Additional rate cuts could be on the horizon in 2026, but the timing and number of cuts are uncertain. Deposit interest rates are correlated with the federal funds rate, so CD rates are beginning to fall again.

When opening a CD account, research rates online and choose an account that meets your needs. Consider the term length, minimum deposit requirements, and fees. Have your documents ready, complete the application, and fund the account. Some institutions offer instant approval decisions.

For step-by-step instructions on opening a CD account, visit the link provided for more information. Lock in today’s best CD rates by comparing offers and choosing the account that fits your financial goals. Make sure to consider all factors before committing to a CD term.

Read more at Yahoo Finance: Best CD rates today, January 15, 2026 (lock in up to 4% APY)