Top CD Rates for May 2026: Secure Your Yield Amidst Fed Uncertainty

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Here's something to feel good about heading into the first full week of May: CD rates are still worth opening. The Fed held steady again at its April meeting, but the debate inside the room was louder than usual -- and that kind of uncertainty tends to push rates lower over time.

Get ahead of it. A fixed-rate CD secures today's yield regardless of what the Fed does next.

Here are the best CD rates to look at this week.

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Rates as of April 29, 2026

Best CD rates this week, May 4, 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 Newtek Bank 6 Months 4.10% $2,500 United Fidelity Bank 24, 36, 48 Months 4.10% $1,000 Marcus by Goldman Sachs 9 Months 4.05% $500

Data source: Issuing banks. Rates are accurate as of May 3, 2026.

Every CD featured here is FDIC-insured, so your deposits are safe up to $250,000. The right fit really comes down to two things -- how long you're willing to set your money aside and how much you plan to invest.

If you're after a short-term win, United Fidelity Bank is offering 4.15% APY on a 6-month CD with a $1,000 minimum to open. Want to lock in for longer? United Fidelity Bank's 5-year CD also pays 4.15% APY, with the same $1,000 minimum deposit. Both options deliver steady, predictable growth.

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 now could be the ideal time to open a CD

If you've got cash sitting in savings earning next to nothing, a certificate of deposit could be an excellent way to take advantage of those few remaining competitive rates. CDs are built for money you won't need for a while -- whether that's a few months or a few years -- and reward patience with guaranteed returns.

A CD may be worth considering if:

• You already have an emergency fund covering three to six months of expenses.
• Your long-term goals, like retirement, are on track with other investments.
• You prefer steady growth and less exposure to market swings.

With fixed APYs and FDIC insurance up to $250,000, CDs offer both security and peace of mind. And with the chance that the Fed will lower rates again before the year is over, this could be one of your last opportunities to capture a top-tier rate before they drift lower.

Example: Earn a quick and easy $746 -- guaranteed

One of the biggest perks of a CD is certainty. From the moment you open it, you'll know exactly how much you'll earn.

For instance, a $25,000 deposit in Synchrony Bank's 9 Mo. CD would grow to about $25,746 by maturity -- that's $746 in guaranteed interest, no market risk and no extra work.

Even if rates fall again before the end of the CD term, your earnings stay locked. That's the power of a fixed-rate CD. See our full Synchrony Online CD review to learn more.

Rates as of April 29, 2026

5 simple steps to open a CD

Getting started takes just a few minutes. Here's how:

1. Compare rates. Browse several banks -- online institutions often have the best offers.
2. Decide your deposit. You usually can't add funds later, and early withdrawals come with penalties.
3. Apply. Submit your info online or at a branch -- ID, Social Security number, and bank details.
4. Transfer funds. Move money from checking or savings; your rate locks once the deposit posts.
5. Track your maturity date. Set a reminder so you'll know when to withdraw or renew.

Once your CD is funded, your money starts earning automatically. Click here to see today's best CD rates.

Grow your money and keep it accessible

If you'd rather keep your cash within reach, a high-yield savings account (HYSA) might be the better call. Some of the best HYSAs right now are paying APYs close to what short-term CDs offer -- without locking up your money.

The upside is easy access: you can add or withdraw whenever you want, no fees or penalties. The downside? Rates can change at any time, unlike CDs, which hold your yield steady until the term ends.

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

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.

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

• Sources

FAQs

• 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.

• 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.