Best CD rates today, Tuesday, August 18, 2026: Lock in up to 4.15% APY today on a 14-month CD

In the current economic landscape, certificate of deposit (CD) rates are offering competitive returns. Among these, the highest rate currently available is 4.15% APY on a 14-month CD, provided by Synchrony Bank. This is significantly higher than the rates found in traditional savings accounts. The 2000s experienced a rise in CD rates, but by the late 2000s, they began to decline following the global financial crisis.

The lowest rates were seen in 2009, with one-year CDs at around 1% APY and five-year CDs at less than 2%. However, CD rates improved between 2015 and 2018 as the Federal Reserve gradually increased interest rates. The COVID-19 pandemic led to further rate cuts, with CD rates reaching record lows in early 2020. After inflation began to spiral, the Federal Reserve increased rates, causing CD rates to improve.

As of September 2024, the Federal Reserve has started cutting rates following a decline in inflation. Despite this, CD rates remain high compared to historical standards. When choosing a CD, factors such as the term length, the financial institution, account terms, and inflation should be considered. CDs offer a balance of safety and returns, but the actual rate depends on the term chosen.