Top CD Rates: Secure Your Savings Amidst Federal Reserve Transition - May 11, 2026

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Kevin Warsh officially takes over as Fed Chair later this week, and nobody knows for sure what that means for rates. He's long pushed for looser policy, and if he delivers, CD yields could slide faster than expected.

That uncertainty alone is a reason to act. A fixed-rate CD locks in what's available today -- no matter what the new boss decides.

Here are the top CD rates available this week.

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Rates as of April 29, 2026

Best CD rates this week, May 11, 2026

Bank Term APY Minimum Deposit Newtek Bank 9 Months 4.20% $2,500 United Fidelity Bank 6, 60 Months 4.15% $1,000 LendingClub 11 Months 4.15% $500 Bread Financial 9 Months 4.15% $1,500 United Fidelity Bank 24, 36, 48 Months 4.10% $1,000 Climate First Bank 6 Months 4.07% $500 Brilliant Bank 3, 9, 15 Months 4.00% $1,000

Data source: Issuing banks. Rates are accurate as of May 10, 2026.

Every CD featured above is FDIC-insured, meaning your deposits are protected up to $250,000 per bank. The right choice depends on two simple things -- how long you want to set your money aside and how much you're ready to invest.

• If you're after something short and sweet, United Fidelity Bank is offering a 6-month CD at 4.15% APY with a reasonable $1,000 minimum to open.
• Prefer to go long-term? United Fidelity Bank's 5-year CD also pays 4.15% APY and requires a $1,000 minimum deposit.
• And for those who want a middle ground, Synchrony Bank's 9 Mo. CD delivers a competitive option -- solid return, no minimum balance, and a term that keeps your cash accessible while still locking in today's higher yield.

Rates as of April 29, 2026

Why it pays to open a CD now

If your savings are sitting idle in a low-yield account, now's your chance to earn more. CDs let you lock in a higher rate before they fall further -- ideal for money you won't need to touch anytime soon.

A CD could be a good fit if:

• You already have a healthy emergency fund.
• Your retirement and investment goals are on track.
• You prefer reliable, fixed growth over the ups and downs of the market.

With a total of three Fed rate cuts in the second half of 2025 and a trio of hold decisions to start 2026, current higher yields might not last much longer. Opening a CD now could help you secure one of the last top-tier APYs before they slip below 4.00%.

Example: Grow $25,000 into $25,746 in just 9 Months

One reason savers love CDs is predictability -- you'll know exactly how much you'll earn from the start.

For example, putting $25,000 into Synchrony Bank's 9 Mo. CD would leave you with about $25,746 at maturity. That's $746 in guaranteed earnings in under a year, no effort required.

And because your rate is locked in, your return won't change -- even if the Fed cuts rates again. Securing today's yield could give your savings a clear advantage heading into next year. See our full Synchrony Online CD review to learn more.

Rates as of April 29, 2026

Open a CD in 5 easy steps

Getting started takes only a few minutes. Here's the simple process:

1. Compare rates. Check multiple banks -- online options often pay more.
2. Choose your deposit. Most CDs don't let you add funds later, and early withdrawals can mean penalties.
3. Apply. You can do it online or in-person -- have your ID, SSN, and bank details ready.
4. Transfer funds. Move money from checking or savings; your rate locks once the deposit posts.
5. Mark your calendar. Note your maturity date so you'll know when it's time to renew or withdraw.

Once it's funded, your CD starts earning right away. Click here to see today's best CD rates.

Prefer easy access to your cash?

If you'd rather stay flexible, a high-yield savings account (HYSA) could be a better match. Many top HYSAs are still paying rates close to short-term CDs -- but with full access to your funds.

• The benefit: You can move money anytime, no penalties.
• The catch: HYSA rates can change at any moment, while CD rates stay fixed until the term ends.

If you like earning more without losing flexibility, a top HYSA can be a solid alternative.

Top HYSA pick: Right now, with the CIT Platinum Savings account, earn up to 4.10%* APY for a limited time with a savings balance of $5,000 or greater. Just use code CITBOOST at sign-up. Growing your savings balance has never been easier. Check out our full review to learn more, or click below to open an account now.

Member FDIC.

Limited-time Offer:

Earn up to 4.10% APY with promo code CITBoost Circle with letter I in it.

With the 6 month Boost limited-time offer, you earn 4.10%* APY on balances over $5,000 (balances less than $5,000 earn 0.60%* APY). After the boost is complete you will continue to earn standard rates-- 3.75% APY for balances over $5,000 (balances less than $5,000 earn 0.25% APY). The minimum to open a Platinum Savings account is $100. Member FDIC. No monthly service fees.

APY

up to 4.10%* Rate info Circle with letter I in it. 4.10%* APY for balances of $5,000 or more; otherwise, 0.60%* APY

• Competitive APY
• No account opening or maintenance fees
• Unlimited number of external transfers (up to daily transaction limits)
• FDIC insured
• Interest compounds daily so your money can grow a bit faster

• Balance requirement for maximum APY
• No branch access; online only

CIT Platinum Savings is a no-frills high-interest savings account that offers one of the highest APYs we've found available today -- as long as you can maintain a $5,000 minimum balance. Plus, customers can make an unlimited number of transfers and withdrawals each month (many savings accounts have monthly limits).

Open a CIT Platinum Savings Account

Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of February 17, 2026.

* Platinum Savings APY Boost Promotion Terms and Conditions

This is a limited time offer available to New and Existing customers who meet the Platinum Savings APY Boost promotion criteria.

Accounts enrolled in the Platinum Savings Annual Percentage Yield (APY) Boost promotion will receive a 0.35% APY boost on the Platinum Savings current standard APY tiers for 6 months following the opening of a new account or when an existing Platinum Savings account is enrolled in the promotion. The Platinum Savings APY boost will be applied on account balances up to $9,999,999.00. Account balances above $9,999,999.00 will earn the standard APY. If the standard-published APY should change during the promotion period, the APY boost will move with it, offering an account APY above the standard rate.

The Promotion begins on February 13, 2026, and ends May 31, 2026. Customers enrolled in the promotion prior to the end date will receive the APY boost for the 6-month period outlined in the terms and conditions.

The promotion can end at any time without notice.

For complete list of account details and fees, see our Personal Account disclosures.

CIT General Disclosure

For complete list of account details and fees, see our Personal Account disclosures. https://www.cit.com/cit-bank/resources/forms

Our Picks for the Best High-Yield Savings Accounts of 2026

Disclaimers

Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of February 17, 2026.

* Platinum Savings APY Boost Promotion Terms and Conditions

This is a limited time offer available to New and Existing customers who meet the Platinum Savings APY Boost promotion criteria.

Accounts enrolled in the Platinum Savings Annual Percentage Yield (APY) Boost promotion will receive a 0.35% APY boost on the Platinum Savings current standard APY tiers for 6 months following the opening of a new account or when an existing Platinum Savings account is enrolled in the promotion. The Platinum Savings APY boost will be applied on account balances up to $9,999,999.00. Account balances above $9,999,999.00 will earn the standard APY. If the standard-published APY should change during the promotion period, the APY boost will move with it, offering an account APY above the standard rate.

The Promotion begins on February 13, 2026, and ends May 31, 2026. Customers enrolled in the promotion prior to the end date will receive the APY boost for the 6-month period outlined in the terms and conditions.

The promotion can end at any time without notice.

For complete list of account details and fees, see our Personal Account disclosures.

CIT General Disclosure

For complete list of account details and fees, see our Personal Account disclosures. https://www.cit.com/cit-bank/resources/forms

The annual percentage yield (APY) is accurate as of January 8, 2026 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.

Accurate as of the time of publication. The national average rate referenced is from the FDIC’s published National Rates and Rate Caps for Savings deposit products, accurate as of March 16, 2026. See the FDIC website for more information.

• Sources

FAQs

• Yes -- especially with top APYs still available around 4.00%. CDs offer a fixed, predictable return, making them a great option if you want to earn more than a regular savings account without taking on stock market risk. With rates trending lower after multiple Fed cuts in the second half of 2025, locking in a competitive yield now could be a smart move.

• Yes. CDs from banks and credit unions are typically insured up to $250,000 by the FDIC or NCUA, making them one of the safest ways to earn a guaranteed return.

• A certificate of deposit (CD) is a savings product that holds your money for a set period -- typically anywhere from 6 months to 5 years -- in exchange for a fixed interest rate. You'll earn interest over time, and when the term ends (called "maturity"), you can withdraw your original deposit plus the earned interest.