Best CD Rates Today, August 21, 2026: Earn Up to 4.35% APY
Top certificate of deposit rates are reaching 4.35% APY. Here's what savers should know right now.
If your savings are sitting in a standard bank account earning next to nothing, certificates of deposit are worth a serious look right now. As of Friday, August 21, 2026, the best CD rates available are climbing as high as 4.35% APY — a meaningful return compared to the national average savings account rate, which tends to lag far behind.
A CD, or certificate of deposit, is essentially a deal you make with a bank: you agree to lock up your money for a set period — anywhere from a few months to several years — and in exchange, the bank rewards you with a fixed interest rate. The catch is that pulling your cash out early usually comes with a penalty, so it works best for money you know you won't need in a hurry.
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Rates this high aren't guaranteed to stick around forever. When the Federal Reserve adjusts its benchmark interest rate, banks tend to follow suit with their deposit products. Locking in a competitive rate now, before any potential cuts, could be a smart move for risk-averse savers who want predictable, guaranteed growth without the volatility of the stock market.
Shopping around is key — not all banks advertise their top rates prominently, and online banks and credit unions frequently outpace the big national names. Always check the annual percentage yield (APY), not just the stated interest rate, since APY accounts for compounding and gives you a more accurate picture of what you'll actually earn over the term.
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