Updated February 10, 2026

Right now, CDs are still paying very good returns even though interest rates have started to cool. Some banks and credit unions are offering up to 4.20% APY, especially on short-term and one-year CDs, because they want to attract deposits before rates possibly go lower later in 2026.

This matters because it means you don’t have to lock your money away for many years to earn a solid return. And even though CD rates are lower than their highest levels in 2023, they still pay much more than the national average. This makes February 2026 a good time to lock in a guaranteed return.

What are the Best CD Rates Today?

The best CD rate you can get today is about 4.20% APY. Many banks and credit unions are offering rates close to this for short- and medium-term CDs. That’s much higher than regular savings accounts, which often pay less than 0.05% at big national banks.

Best CD Rates Today by Term and Bank (February 10, 2026)

These rates show the best CD deals you can actually get on February 10, 2026. Note that different banks or credit unions may have different rules about how much money you need to open an account or whether the offer is available to you.

CD Term	APY	Bank/CU	Deposit
3–6 months	3.85%–4.00%	First National Bank of America	$1,000
10–12 months	Up to 4.20%	Mountain America Credit Union	Varies
10–12 months	4.00%	Marcus by Goldman Sachs	$500
11–14 months	4.00%	Sallie Mae / American Express	$0–$2,500
18–24 months	4.10%	United Fidelity Bank	$1,000
3–5 years	3.80%–3.95%	Multiple institutions	Varies

Why Short-Term CDs are Winning Right Now

In the past, CDs that locked your money for a longer time usually paid more interest. But right now, that’s not the case. Now short-term CDs also pay just as much or even more.

Because interest rates might stay the same or go down in 2026, many banks are giving their best rates on shorter CDs, especially 10–12 months. This is happening because:

• The difference between short- and long-term rates is small (flattening yield curve)
• Banks are competing to attract deposits
• Banks are careful about raising rates in the future

What’s Driving CD Rates in 2026?

These are the main factors shaping CD rates right now.

Federal Reserve Policy

After lowering interest rates three times in 2025, the Federal Reserve kept rates steady at 3.50%–3.75% by January 2026. Banks have slowly reduced CD rates too, but you can still find good offers.

Inflation Backdrop

Inflation has slowed, going up about 2.7% compared to last year. Even with recent drops, top CD rates near 4.20% still beat inflation, so your money keeps its value.

How to Choose the Best CD Rate

A high APY is good, but not the only thing to think about. Before opening a CD, keep in mind:

1. Term Length

Pick how long you’ll leave your money. Taking it out early can cost you months of interest.

2. Minimum Deposit

Some top rates need more money, others start as low as $0–$1,000.

3. Early Withdrawal Penalties

For longer CDs, taking money out early can cost 6–12 months of interest.

4. Bank vs. Credit Union

Online banks and credit unions often have better rates, but make sure your money is insured (FDIC or NCUA).

Is Now a Good Time to Lock in a CD?

For many savers, yes. However, be careful because getting a CD around 4.20% APY can be a good idea if:

• You don’t need the money before the CD ends
• You want a safe, guaranteed return
• You are certain that interest rates will stay the same or go lower

But if you have high-interest debt, it’s usually smarter to pay that off first.

Bottom line

If you don’t need your money for a little while, putting it in a CD now can give a safe, guaranteed return. Look at different banks and credit unions to find the best rate and make your money grow without risk. Core Finance Advisor can help you compare options and choose the best CD for your needs.