Big Banks Offer Competitive CD Rates Amid Rising Interest Rates

With interest rates rising, big banks are offering competitive CD rates to attract customers. The nation's largest banks, according to FDIC data, currently advertise CD APYs as high as 4.25% (as of Sept. 9, 2026).

Chase and Bank of America offer 3.30% and 3.51% APY respectively for their CDs with terms starting at four months and going up to 12 months. Citibank leads the pack with a 4.15% APY on its 12-month CD.

While big banks tend to offer more term choices and account types, their rates may not always be the highest in the market. Online-only banks like American Express often provide more impressive returns due to lower operational costs.