CD Rates by Bank: Compare Yields, Terms and Access

Compare CD rates by matching the term you need first, then checking APY, minimum deposit, early-withdrawal terms and renewal instructions. The highest advertised number may be for a different maturity, a location-limited offer or a product with less flexible access.

The bank examples below show how to make that comparison. They are a dated, limited sample of direct bank CDs, not an exhaustive ranking of the highest rates or a claim that these are the country's biggest banks. For a broader offer list, see our CD rate comparison; use our CD reviews for individual product details.

A Like-for-Like 12-Month Bank Comparison

Marcus and Capital One figures were checked on their official pages October 25, 2026. TD's Pennsylvania quote was checked October 24. These are snapshots; confirm the current offer for your address and application before depositing. APY assumes the account's stated interest-retention conditions are met.

The sample was selected to show different opening minimums and access terms, not to imply a statistical survey or paid performance ranking. TD's quote is location-specific. Capital One's same-day 11-month promotional quote was 4.40% APY, but that is a different maturity from its 4.00% 12-month CD. Use the exact term in both the comparison and application.

Penalty sources: Marcus CD guide, Capital One 360 CD disclosure and TD's personal deposit agreement. Early penalties can exceed interest already earned and reduce principal. Contract exceptions and withdrawal procedures differ.

Compare APY and Maturity Together

APY annualizes the effect of the account's stated compounding assumptions. It is not the percentage earned during every term. An 11-month CD does not pay a full year's APY in 11 months, and a six-month CD cannot be assumed to renew at the same rate for the following six months.

For a simple one-year illustration, $10,000 at 4.40% APY earns $440 if the stated conditions are met and all interest remains for the year. At 4.00%, it earns $400. The $40 difference is before taxes and assumes no early withdrawal. It may be less important than a costly break or a transfer that cannot complete before you need the money.

Use a CD calculator with the actual term, deposit and interest assumptions. Do not use the APY as the contract interest rate when estimating a penalty that is defined using that separate rate.

Minimums, Location and Funding Conditions

Compare the exact product available to you, including:

• Opening and balance requirements: Can you meet the minimum while keeping an accessible reserve?
• Location and eligibility: Does your address qualify, and is a branch visit, relationship account or membership required?
• Funding and rate lock: When is the account considered opened, how long can a transfer take and which rate applies if it changes while funds are moving?
• Interest handling: Does interest remain in the CD or pay into another account, and does that change the stated yield assumption?
• Product identity: Is it a direct bank CD, credit union certificate, brokerage security or platform-arranged deposit?

Marcus advertises a 10-day rate guarantee when its minimum funding requirement is met within the specified window. Capital One also describes a 10-calendar-day funding-related rate-lock procedure, with verification and deposit conditions. Those are specific contract protections, not a universal rule that every bank holds a quote indefinitely.

What Happens if You Need the Money Early?

Ask for the penalty in dollars for your planned deposit and an illustrative early closing date. “Three months' interest” is not automatically the same dollar amount as “90 days' interest,” and penalty calculations can use the full original principal rather than only the amount you wish to withdraw. Partial principal withdrawals may be prohibited.

A no-penalty CD can provide more flexibility, but restrictions still matter: there may be an initial waiting period or a requirement to close the whole account. A lower APY can be worth considering if access is genuinely uncertain. Our CD early-withdrawal guide explains the questions to ask.

A brokered CD is a separate comparison. Early access may require a market sale at a loss rather than a bank penalty. Its coupon or yield to worst should not be put into an APY column without explaining the difference. See our brokered CD guide.

Check Renewal Instructions Before Maturity

A fixed opening rate normally applies to the initial term, not all future renewals. Set a reminder before maturity and confirm the deadline, destination account and whether the bank will automatically renew.

Capital One's disclosure provides ten calendar days after maturity for penalty-free changes and generally renews at the rate offered on the maturity date. TD's agreement describes a ten-calendar-day grace period beginning on maturity; a Choice promotional CD generally renews at the applicable nonpromotional rate under its renewal terms. Marcus provides its own maturity instructions and grace-period rules. Do not assume these clocks or renewal rates are identical.

Save the opening agreement, maturity notice, instructions and final transaction confirmation. Allow time for authentication and outbound transfer processing rather than planning a same-day purchase around an unconfirmed withdrawal.

Insurance, Taxes and the Real Return

For eligible deposits, FDIC insurance generally covers up to $250,000 per depositor, per insured bank, per ownership category. Add your savings, checking and CDs at the same bank in the same category, including deposits arranged elsewhere. Separate brands or a merger do not necessarily mean separate banks or permanent separate limits. Verify using the FDIC's insurance estimator.

Federally insured credit union certificates use NCUA coverage rather than FDIC insurance. Deposit insurance protects against covered institution failure within its rules; it does not compensate for inflation, a lower renewal rate or an ordinary early-withdrawal penalty.

CD interest generally is taxable federally and may be taxable by your state. The nominal APY is not an after-tax or inflation-adjusted return. Treasury securities have different tax and market characteristics, so compare them separately rather than assuming the highest taxable APY wins for everyone.

Who Should Choose a CD, and Alternatives

A fixed-rate CD can fit money reserved for a known date when you can hold through maturity and the deposit fits within verified insurance coverage. It is less suitable for emergency money, uncertain near-term spending or a goal that may require selling before maturity.

Insured savings offers more flexible access with a variable rate. A CD ladder spreads maturity dates but leaves reinvestment risk. No-penalty CDs trade product-specific flexibility against available yield. Treasury bills are another short-term option with different custody, tax and resale considerations. Match the access need before selecting the product category.

This information is educational and is not personalized financial or tax advice. Rates and availability can change; verify the actual offer and agreement before opening an account.