Best CD rates today, Wednesday, September 16, 2026: Earn up to 4.40% APY with Happen Bank

As of September 16, 2026, the highest CD rate available is 4.40% APY, offered by Happen Bank on its 2-year certificate of deposit. This is a significant rate compared to traditional savings accounts. Currently, short-term CDs (6-12 months) generally provide 4% to 4.5% APY. Historically, CD rates have fluctuated based on economic conditions.

For instance, after the 2008 financial crisis, one-year CDs paid around 1% APY, while five-year CDs were under 2% APY. However, between 2015 and 2018, the Federal Reserve's gradual rate increases led to slight improvements in CD rates. The COVID-19 pandemic caused CD rates to drop to record lows, but they began to rise again following the Fed's decision to increase rates in 2022.

As of 2025, CD rates have started to decline, yet they remain relatively high compared to historical standards. When considering a CD, factors beyond interest rates should be taken into account, such as term length, financial institution type, account terms, and inflation.