FDIC Deposit Insurance is Backed by the Full Faith and Credit of the U.S. Government. FDIC Deposit Insurance is Backed by the Full Faith and Credit of the U.S. Government.

Advertiser Disclosure

Earn More on Your Savings – Best Certificate of Deposit & Savings Accounts

Conor Keenan By: | Updated: November 13, 2026 | We check the rates shown against the providers’ published information. Rates and terms can change. Use the links below to visit each provider’s website for current rates, requirements, and full offer details.
Accredited Wealth Management Advisor® designee with 10+ years covering banking & investing. His work has appeared in The Wall Street Journal, Reuters & Yahoo Finance.

Editorial Independence: Opinions, recommendations, and reviews are our own. Partner commissions help keep our site free. They do not influence our editorial content.

 

Savers who want shorter terms and more flexibility tend to choose a high-yield savings account

 

To recap our recommendations

Best Certificates of Deposit According to CompareAccounts™

Estimated earnings Estimated earnings is shown per $10,000 deposited and assumes the deposit is held for the listed term using the displayed APY, which already reflects compounding. Because values are rounded, multiplying the displayed amount provides an approximation only. Actual earnings may vary due to account terms, balance tiers, fees, rate changes, timing, withdrawals, or rounding. For illustration only.
A recap of the certificate of deposit offers listed in the comparison table above
Bank / institution APY Term Estimated earnings Estimated earnings is shown per $10,000 deposited and assumes the deposit is held for the listed term using the displayed APY, which already reflects compounding. Because values are rounded, multiplying the displayed amount provides an approximation only. Actual earnings may vary due to account terms, balance tiers, fees, rate changes, timing, withdrawals, or rounding. For illustration only. Learn more

Loading current recommendations…

To recap our recommendations.

Best Savings Accounts According To CompareAccounts™

SoFi® Checking and Savings: 4.40%​ APY & Earn up to $400 with qualifying activities

CIT Bank® Platinum Savings Account: up to 4.35% APY - with Promo Code: BOOST60

CIT Bank® Platinum Savings Account: up to 4.35% APY - with Promo Code: BOOST60

American Express® High Yield Savings Account: 3.20% APY as of November 13, 2026

American Express® High Yield Savings Account: 3.20% APY as of November 13, 2026

Synchrony Bank High Yield Savings Account: 3.75% APY

CIT Bank® Savings Connect Account: 3.65% APY

Still looking for the right CD?

Explore 100+ CD options through Raisin, with terms from 1 month to 5 years.

New to Raisin? Earn a cash bonus with code STACK when you meet the qualifying requirements.*

See More CD Rates

On Raisin's Secure Site

When you go to their page: Scroll down to the rates table and select “High-Yield CDs” to see the full list of available options.

* Bonus eligibility and qualifying requirements apply. See Raisin for full offer terms.

What to Look for in a Certificate of Deposit Account

It's always wise to compare your options when opening a new certificate of deposit account.

Small differences in interest rates and fees can quickly add up over time, especially if you're keeping a large balance in the account.

Here are the top features to look for and compare:

1. Interest Rate

The interest rate of a certificate of deposit is one of its most important features. However, a very high interest rate can get completely wiped out if you have to pay a penalty fee because you need to withdrawl your funds before the term is complete.

Besides interest rate, term length is the second most important factor. Other important features of your certificate of deposit account include the required initial deposit, and minimum balance required.

2. Term Length

Most banks will charge you what's called a "penalty fee" for withdrawing your funds before the term length has been completed.

This means, that if you open a 12-month CD, but withdraw your funds within 6 months, then you'll pay a penalty fee.

Therefore, you need to decide when you'll need these funds again.

For any term less than a year, we recommend a high-yield savings account.

If this is your first CD account, we recommend starting with a 12 month term.

If you've opened a CD account in the past, then you choose which term is right for you and your unique situation.

3. Required Initial Deposit

Initial deposit is another important factor when deciding to open up a certificate of deposit. Most banks require at least a $500 initial deposit to open a CD account.

While others require much more than $500 to open the account.

Again, because the initial deposit is in the hundreds if not thousands, we recommend you open a high-yield savings account if you need these funds within a year.

Important information

Product disclosures

Loading applicable product disclosures…

*National Savings Rate Average as published by FDIC