Best High-Yield CDs and Savings Accounts 2026
Ally Bank's 6-Month High Yield CD is our top pick — they combine market-leading rates with no minimum deposit, transparent terms, and a consistently excellent digital banking experience. For savers who want to lock in today's rates longer, Synchrony Bank's 1-Year CD provides the same level of reliability with a 12-month commitment that protects against expected rate cuts.
Open Account →At a Glance
| # | Product | Award | APY | Min Deposit | Monthly Fee | |
|---|---|---|---|---|---|---|
| 1 | Ally Bank 6-Month High Yield CD | Best Overall | 3.50% APY (fixed for 6-month term) | — | — | Apply → |
| 2 | LendingClub Bank 6-Month CD | Best Bank CD | 3.90% APY (fixed for 6-month term) | — | — | Apply → |
| 3 | Bread Savings 6-Month CD | Best Fintech CD | 4.00% APY (fixed for 6-month term) | — | — | Apply → |
| 4 | Synchrony Bank 1-Year CD | Best 1-Year CD | 3.80% APY (fixed for 12-month term) | — | — | Apply → |
| 5 | Axos ONE Joint Account | Best Joint Account | — | — | $0 | Apply → |
Ally Bank 6-Month High Yield CD
“Ally Bank offers top-tier APY with no minimum balance and no fees.”
What we like
- No minimum deposit — open a 6-month CD with any amount, including $1
- 3.50% APY — solid rate, though below the top competitors
- Only 60 days' interest as early withdrawal penalty — the lowest penalty on this list
- Ally also offers a No-Penalty CD at a slightly lower rate if flexibility is paramount
- FDIC insured; highly rated mobile app; full-service online bank with checking and savings
Watch out for
- 3.50% APY is 55 basis points below Marcus at 4.05% — meaningful on larger deposits
- Rate alone is not the best available
Rates as of April 8, 2026. Terms apply. Verify on issuer site.
LendingClub Bank 6-Month CD
“LendingClub offers competitive rates with robust digital banking tools.”
What we like
- 3.90% APY — competitive rate from a full-service FDIC-insured bank
- $500 minimum deposit — matches Marcus at the low end
- FDIC insured
- LendingClub also offers high-yield savings — useful if you want both products at one institution
Watch out for
- 3.90% APY is 15 basis points below Marcus at 4.05%
- Early withdrawal penalty applies — verify terms at lendingclub.com
Rates as of April 8, 2026. Terms apply. Verify on issuer site.
Bread Savings 6-Month CD
“Bread Savings consistently offers above-market rates for 6-month terms.”
What we like
- 4.00% APY — one basis point below Marcus, but competitive at any deposit size over $1,500
- Interest compounds daily and is credited monthly
- FDIC insured up to $250,000 per depositor
- No monthly fees
Watch out for
- $1,500 minimum deposit — higher than several competitors
- Comenity Capital Bank is less well known than Marcus or Ally, though fully FDIC insured
- Early withdrawal penalty applies — verify terms at breadfinancial.com
Rates as of April 8, 2026. Terms apply. Verify on issuer site.
Synchrony Bank 1-Year CD
“Synchrony Bank's 1-year CD locks in competitive rates for longer.”
What we like
- 3.80% APY — second-highest rate on this list with no minimum deposit
- $0 minimum deposit — open a CD with any amount
- 90-day early withdrawal penalty — lower than Marcus for the same term range
- Interest can be withdrawn during the term without penalty (transferred to a Synchrony savings or external account)
- FDIC insured
Watch out for
- 3.80% APY is 20 basis points below Marcus at 4.00%
- No checking account — savings and CD products only
Rates as of April 8, 2026. Terms apply. Verify on issuer site.
Axos ONE Joint Account
“Axos ONE combines high-yield checking and savings in a single joint-friendly account.”
What we like
- Up to 4.21% APY on savings
- Up to 0.51% APY on checking
- Bundled checking + savings in one account
- FDIC insured up to $500K for joint accounts
- No monthly fees
Watch out for
- Requires $1,500+ monthly direct deposit to unlock top rates
- Savings rate conditional on meeting deposit thresholds
- No physical branch locations
Rates as of April 8, 2026. Terms apply. Verify on issuer site.
High-Yield CDs and Savings Accounts Buying Guide
Photo by Atlantic Ambience / PexelsCDs vs. high-yield savings accounts: which is right for you?
CDs (Certificates of Deposit) lock your money for a specific term (6 months, 1 year, 2 years) in exchange for a guaranteed APY for that period. High-yield savings accounts offer competitive rates but are variable — the bank can lower the rate at any time, and you can withdraw anytime without penalty. If you don't need the cash for 6-12 months and want to lock in a specific rate, a CD is the right vehicle. If you might need access to the funds, a high-yield savings account maintains liquidity.
FDIC insurance: what it covers and what it doesn't
All accounts listed here are FDIC-insured up to $250,000 per depositor, per bank. This means if the bank fails, the federal government guarantees your deposits up to $250,000. For married couples with joint accounts, the FDIC limit is effectively $500,000 for jointly-held funds. FDIC coverage does not protect against investment losses — only bank insolvency. All online FDIC-insured banks are as safe as any physical branch bank.
Early withdrawal penalties: know before you commit
CDs charge early withdrawal penalties if you take money out before the term ends. Common penalty structures are 60 days of interest (6-month CDs) or 90-150 days of interest (1-year CDs). Calculate your break-even: if you might need the money in month 4 of a 6-month CD, you'll lose 2 months of interest — which may still net more than a savings account earned in the same period. At current rates, most CD holders come out ahead even with an early withdrawal.
Rate comparison: always check the current rate before opening
CD rates change frequently based on Federal Reserve policy. The APY at account opening is the rate for the full term, but the rates I'm comparing here may have moved since this was written. Always verify the current APY at the bank's website before funding any CD. Rate aggregators like Bankrate and NerdWallet update daily and make comparison easy.
For dedicated CD rate tracking by term, see our Best 1-Year CD Rates of March 2026 and Best 6-Month CD Rates of March 2026 — both updated monthly as rates shift. For the fully liquid savings side without any lock-in, Best High-Yield Savings Accounts No Minimum Deposit 2026 covers accounts paying competitive APYs with no penalties for withdrawals.
Watch Before You Buy
Frequently Asked Questions
Is my money safe in an online bank?
What happens to my CD if the bank fails?
Can I open multiple CDs at different banks to get more FDIC coverage?
Should I do a CD or a high-yield savings account right now?
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How We Evaluate Financial Products
We compare financial products based on objective criteria: annual fees, APR ranges, rewards rates, sign-up bonuses, and key perks. We do not factor in issuer relationships or compensation when determining rankings. Products are ranked based on overall value for the target use case described on this page.
Rates and terms change frequently. We update these pages regularly, but always verify current rates directly on the issuer’s website before applying. APR ranges shown reflect the full possible range — your actual rate depends on your creditworthiness.
This content is for informational purposes only and should not be considered financial advice. We compare products; we do not advise on which product is right for your personal financial situation. Read our full methodology →