Big Banks' Top CD Rates Reach 4.25% APY Amid August 2026 Competition
As of August 25, 2026, top CD rates from major banks are reaching up to 4.25% APY, according to Fortune's latest rankings. If you're considering opening a CD at a big bank, here are the key benefits: peace of mind, unified banking, more CD options, and relationship rate bumps.
Chase is offering a 3.30% APY (3.80% jumbo) on a 4-month term with a $1,000 minimum deposit, while Bank of America's 7-month term comes with a 3.51% APY (3.80% jumbo). Citibank takes the lead with its 12-month term at 4.15% APY.
Capital One and Wells Fargo follow closely, offering 4.00% APY on their 12-month terms. American Express takes the top spot with a 10-month term at an impressive 4.25% APY. When choosing the best CD type for you, consider your financial goals: no-penalty CDs offer flexibility but often come with lower rates.
CD laddering is another strategy to balance return and access by dividing funds across multiple terms with staggered maturity dates.