Big Banks' CD Rates Hit New High: 4.25% APYs Available Now
Major banks in the US are offering competitive CD rates, with some institutions providing APYs as high as 4.25% as of August 4, 2026. According to Fortune, Chase and Citibank are among the top CD providers, with terms ranging from four months to 15 months.
The benefits of opening a CD with a big bank include having all your banking needs in one place, access to a wider range of CD options, and potentially higher interest rates. Large banks like American Express also offer attractive APYs on their CDs, making them a viable option for those seeking competitive returns.
However, it's essential to note that while big-name banks may offer more appealing rates, online-only institutions can often provide better deals due to lower overhead costs. CD laddering is another strategy to consider, which involves dividing funds across multiple CDs with staggered maturity dates to balance return and access.