Top CD rates from major banks June 29, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more | Fortune
CD accounts from the biggest banks (as determined by FDIC numbers) offer APYs up to 4.00% as of June 29, 2026. Terms range from four months to 15 months.
When you want to keep your savings with an institution that’s a household name—rather than shopping around among smaller online banks—one of these CDs might be exactly what you need.
See our picks for the best certificates of deposit.
Name recognition may be your main driver to bank with financial institutions like Chase and Bank of America; you may not want to trust your money with some obscure brand you’ve never heard of. But there are additional benefits to opening a CD with a big bank:
A certificate of deposit (CD) similar in some ways to a high-yield savings account. It’s considerably more restrictive than a traditional savings account—but often with the benefit of a better return rate.
When you open a CD, you must not withdraw it for an agreed-upon amount of time. Breaking this agreement will result in considerable fees called early withdrawal penalties. The benefit is that your interest rate will remain the same during that period of time, no matter what twists and turns the market takes.
After your CD reaches maturity, you can withdraw your money (plus the interest you’ve earned) and move it to another account or reinvest it into another CD. Generally, your CD is automatically renewed upon maturity. You’ll often be granted a short grace period to choose what you want to do with your money before a new CD is created.
In addition to a standard fixed-rate CD, you’ll find a long list of specialty CDs that cater to specific financial goals. To choose the best CD type for you, here’s a quick rundown of the most popular options:
See our picks for the best no-penalty CDs of 2026.
Again, choosing the right CD term is perhaps the most critical detail of your new account. It dictates the amount of time you must keep from accessing your money in order to avoid penalties.
You may assume that the longer the CD term, the better. After all, your APY will be guaranteed throughout the life of your account. If a juicy CD rate presents itself, locking it in for many years will protect your money in the event of a negative market shift. But also consider that you won’t be able to move your money to a more impressive CD if interest rates increase before your term ends (unless you’re willing to pay that hefty fee).
A great way to maximize your CD strategy is with a technique called CD laddering.
A CD ladder is a way to invest your money into CDs long-term without completely losing the use of your funds. You achieve this by opening multiple CDs of varying term lengths—giving you incremental access as each CD reaches term.
Every six months, $1,250 of your investment (plus the interest earned) would become available. You could then withdraw that money or reinvest it into another 24-month CD to keep the ladder going.
Big banks tend to issue the most comprehensive selection of CD terms and account types while offering the comfort and reliability of an established brand name. Just note that they may not offer the best returns on the market—so it’s worth rate shopping. Read our post on the best certificates of deposit to keep abreast of the top deals available.
CDs at large banks are not really safer than CDs at smaller banks. As long as the bank is insured by the FDIC, your money is generally as safe at a small bank. If it’s a credit union, check that they’re insured by the NCUA.
Big-name banks change their CD rates regularly. You may find that some CD terms change every couple weeks—exhibiting the value of opening a long-term CD. If you see a rate that you like, best to jump on it.
You can’t lose money with a CD from a big bank, or any bank really, in the same way that you could with a riskier investment like the stock market. That said, you might effectively “lose” money if the interest you earn is lower than the inflation rate. You won’t be able to access and reinvest your money into something more profitable until your account terms (or unless you pay fees).
It’s OK to keep all your money at the same large bank as long as your deposits are covered by the FDIC. This covers up to $250,000 per account holder per ownership category. If you’ve got more than that, it’s worth spreading the money around to other banks to ensure the FDIC covers it all.
CD rates at big banks are not always lower than at smaller online banks. It’s true that online banks tend to offer more consistently impressive returns than big banks due to their lack of overhead and lower operational costs. But big banks often issue a handful of APYs that rival the best rates on the market.
Joseph is a staff writer on Fortune's personal finance commerce team. He's covered personal finance since 2016, previously serving as a reporter and editor at sites like Business Insider and The Points Guy. He has also contributed to major outlets such as AP News, CNN, Newsweek, and many more.