Top CD rates from major banks April 8, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more | Fortune

The largest banks in the country (ranked according to FDIC data) are offering CD APYs as high as 4.00% as of April 8, 2026. Available terms span from two months to 14 months. If you'd rather park your savings at a bank you already know and trust instead of hunting through lesser-known online institutions, one of these CDs could be a solid fit. Rates accurate as of April 8, 2026. Brand familiarity is often the biggest draw for banks like Chase and Bank of America -- there's a certain peace of mind that comes with depositing your money at a name you recognize and perhaps already have experience with. Beyond that, there are a few more perks worth considering: A certificate of deposit (CD) shares some DNA with a high-yield savings account, but it comes with more restrictions -- and often a better interest rate to make up for it. When you open a CD, you're committing to leave your money alone for a fixed period. Pull it out early and you'll face early withdrawal penalties. In return, your interest rate stays locked in for the entire term, regardless of what happens in the broader market. Once your CD matures, you're free to take your money (along with the interest it earned) and move it elsewhere or roll it into a new CD. Most banks will automatically renew your CD at maturity, though there's usually a brief grace period during which you can decide what to do next. Beyond the standard fixed-rate CD, there's a whole lineup of specialty options designed around different financial needs. Here's a breakdown of the most common ones: The term you pick might be the single most important detail when opening a CD. It determines how long your money is off-limits before you can touch it without paying penalties. It's tempting to think longer is always better -- after all, you'll lock in your APY for the duration of the account. Snagging a great rate and holding it for years shields you from any dips in the market. On the flip side, you'll miss out if rates climb and a better deal comes along, since your funds are tied up (unless you're okay paying the early withdrawal penalty). Two key questions to ask yourself: One popular strategy for getting the best of both worlds is CD laddering. A CD ladder lets you invest in CDs over the long haul without giving up access to all your money at once. The idea is to open several CDs that mature at staggered dates, so portions of your funds free up at regular intervals. You may theoretically have $5,000 to invest. You could split it up like this: Every six months, one of those CDs matures and $1,250 (plus interest) becomes available. At that point, you can pocket the cash or reinvest it into a fresh 24-month CD to keep the cycle going. Big banks generally provide the widest range of CD terms and account types, along with the reassurance of a well-known brand. The tradeoff is that their rates aren't always the most competitive -- so do your homework. Check out our post on the best certificates of deposit to stay on top of the latest offers.