Looking for the best CD rates? Find out which banks are offering competitive rates for your savings. CD rates have been on the decline due to the Federal Reserve’s rate cuts, but some financial institutions still offer rates of 4% APY or higher, especially online banks like Marcus by Goldman Sachs.

The Federal Reserve has cut its target rate three times in late 2024, totaling a one percentage point decrease. Additional rate cuts could be on the horizon in 2026, impacting deposit interest rates. Now may be a good time to lock in a high CD rate before they fall further.

When opening a CD account, research rates, choose an account that fits your needs, gather necessary documents, complete the application, and fund the account. Many financial institutions allow online applications, making the process quick and easy. Be sure to compare rates and terms to find the best option for you.

Read more at Yahoo Finance: Best CD rates today, January 29, 2026 (lock in up to 4% APY)