Big Banks Raise CD Rates Amid Competition from Online Institutions
Big banks are often seen as safe havens for depositors, and their certificate of deposit (CD) rates reflect that. According to Fortune, top CD rates from major banks have reached 4.30% as of Sept. 11, 2026. This is not surprising, given the benefits of banking with a household name.
For one, sticking with a familiar institution like Chase or Wells Fargo can provide reassurance and peace of mind for depositors. Additionally, big banks often offer more CD options, making it easier for customers to find the right product that suits their needs.
However, it's essential to note that these rates are not always competitive compared to smaller online banks. In fact, some digital-first institutions like American Express and Capital One offer rates as high as 4.25% and 4.30%, respectively.