The country’s biggest banks, ranked by FDIC data, are currently offering CD APYs reaching 4.25% as of Sept. 4, 2026. Term options span from four months to 15 months. If you’re the type who prefers banking with a name you’ve trusted for years over experimenting with a newer online-only institution, one of these CDs is likely worth a closer look. Bank APYs and terms are detailed below:
- Chase: 3.30% (3.80% jumbo), 4 months, $1,000 ($100,000 jumbo) - Bank of America: 3.51% (3.80% jumbo), 7 months, $1,000 ($100,000 jumbo) - Citibank: 4.15%, 12 months, $500 - Capital One: 4.00%, 12 months, $0 - Wells Fargo: 3.64% (3.90% relationship APY), 15 months, $5,000 - American Express: 4.25%, 10 months, $0
What’s the benefit of opening a CD with a big bank? Sticking with a familiar institution like Chase or Wells Fargo can feel safe. Benefits include keeping all your banking in one place, having more CD options available, and potentially earning relationship rate bumps. Large banks generally offer a more extensive lineup of CD terms and types compared to digital-only banks.
What is a CD? A certificate of deposit (CD) operates similarly to a high-yield savings account but requires you to lock your funds for a specific term length. Early withdrawal incurs penalties, but you receive a fixed interest rate that won’t change. At maturity, you get your initial deposit plus interest, which you can reinvest or withdraw.
How to choose the best CD type for you: - No-penalty CDs allow early access but offer lower APYs. - Bump-up CDs allow rate increases during the term. - Jumbo CDs have higher minimum deposits and may offer slightly better rates. - IRA CDs combine CD predictability with retirement benefits. - Business CDs are for business cash.
How to choose the best CD term for you: Longer terms lock in higher APYs but restrict access to funds. CD laddering spreads investments across different maturity dates to balance access and returns.
For example, with $5,000, you could invest $1,250 in each of four CDs with terms of 6, 12, 18, and 24 months. This ensures regular access to funds while maintaining long-term interest.
Big banks are preferred for variety and familiarity but may not always offer the highest rates. Online banks often provide better rates due to lower overhead. CDs are FDIC-insured up to $250,000 per account holder, so diversification is recommended for larger deposits.
Frequently asked questions: - CDs at large banks are as safe as those at smaller banks, provided the bank is FDIC-insured. - Big-name banks frequently adjust CD rates, so locking in a rate early is advisable. - You cannot lose money in a CD, but inflation could reduce its purchasing power. - Keeping all CDs at the same bank is safe up to FDIC limits; spreading deposits around ensures full coverage. - CD rates at big banks are not always lower than those at online banks, but online banks often offer better rates due to lower costs.
Source: Fortune
