Best CD rates today, February 16, 2026 (Lock in up to 4% APY)

When it comes to CD rates, today’s rates still remain well above the national average. In 2025, the Federal Reserve made three cuts to its target interest rate, affecting deposit account rates across the board. This means that now may be the last opportunity to take advantage of the high rates currently being offered with a certificate of deposit (CD). Let’s take a closer look at some of the best CD rates available today and where you can find these attractive offers.

At present, the highest CD rate stands at 4% APY, offered by Marcus by Goldman Sachs on their 1-year CD. This rate is quite competitive compared to the national average rates, which are significantly lower. It’s important to note that online banks and credit unions tend to offer more competitive rates compared to traditional brick-and-mortar banks.

If you’re considering opening a CD, it’s crucial to choose one with a high APY and term length that aligns with your financial goals. Here are some tips for finding the best CD rates and accounts that suit your needs:

1. Shop around: It’s advisable to compare CD rates from various financial institutions before making a decision. You can easily compare rates online to ensure you’re getting the best deal.

2. Consider online banks: Online banks typically have lower overhead costs, allowing them to offer higher interest rates on CDs. In fact, online banks often provide the most competitive rates in the market.

3. Check minimum deposit requirements: Higher CD rates may come with higher minimum deposit requirements, so make sure the amount you plan to deposit meets the requirements to secure the best rate.

4. Review account terms and conditions: In addition to the CD rate, it’s essential to look at terms for early withdrawal penalties and auto-renewal policies. Some CDs offer more flexibility, such as no-penalty CDs that allow you to withdraw funds without a fee before the maturity date.

As of January 2026, the highest national average interest rate for CDs is 1.61% for a 1-year term. However, today’s average CD rates are some of the highest seen in nearly two decades, largely due to the Federal Reserve’s efforts to combat inflation by maintaining elevated interest rates.

In conclusion, if you’re in the market for a CD, now may be the ideal time to take advantage of the high rates being offered. By comparing rates, considering online banks, checking deposit requirements, and reviewing account terms, you can find a CD that best suits your financial needs. It’s essential to act fast as rates are subject to change, and locking in a high rate now could benefit you in the long run.