Best CD Rates for November 2026: Top APYs by Term (Up to 5.00%)

The best CD rates for November 2026 top out at 5.00% APY on 5-year certificates. Strong 1-year CDs pay about 4.65% APY, and even 3- and 6-month CDs pay 4.30% to 4.40% at competitive online banks and credit unions. The typical bank pays far less. The FDIC’s national average for a 12-month CD is just 1.76%, so where you open your CD matters more than almost anything else.

Below you’ll find the top rates by term, what each one is actually worth in dollars, how early withdrawal penalties work, and a simple way to decide between a CD, a high-yield savings account and a CD ladder.

All rates are annual percentage yields (APYs) as of Nov. 1, 2026, gathered from public rate tables. CD rates change often, sometimes weekly, so confirm the rate on the bank’s own site before you fund an account.

Best CD rates by term (November 2026)

Here are the highest widely available rates we found for each common term. “Minimum” is the opening deposit needed to earn the rate.

A few patterns stand out. First, online banks dominate the list. They don’t pay for branch networks, so they can pass more of the yield to savers. Second, the curve is fairly flat. Moving from a 1-year CD to a 5-year CD adds only about 0.35 percentage point, which isn’t much reward for tying up your money four extra years. Third, minimums vary widely. Popular Direct pays some of the best rates at every term but asks for $10,000. Capital One, Synchrony, Barclays and E*TRADE require nothing to open.

Rate check: Bankrate’s survey puts the average 1-year CD at 2.12% and the average 5-year CD at 1.78% (Nov. 1, 2026). The FDIC’s national average for a 12-month CD was 1.76% in October. If your bank’s CD offer is close to those numbers, you’re leaving money on the table.

What these rates are worth in real dollars

Percentages are easy to skim past. Dollars aren’t. Here’s what a $10,000 deposit earns over one year at different rates, assuming you leave the interest in the account:

Choosing a top 1-year CD over an average one earns you roughly $289 more on $10,000. Compared with a typical savings account, the difference is $427.

Remember that CD interest is taxable as ordinary income in the year it’s credited to your account, even if you don’t withdraw it. Your bank will send a Form 1099-INT if you earn $10 or more. If you’re in the 22% federal bracket, that $465 shrinks to about $363 after federal tax. You’d still come out well ahead of an average account, but run your after-tax numbers, especially if you live in a high-tax state.

Want to test other amounts? Plug your deposit and APY into our savings calculator.

Short-term vs. long-term CDs: which term should you pick?

Pick the term based on when you’ll need the money, not on which rate looks biggest. A CD only pays off if you can leave it alone until it matures.

Short-term CDs (3 to 12 months)

These suit money with a near-term job: a tax bill due in April, a car purchase next summer or a down payment you’ll make within a year. You give up very little yield here, since top 6-month and 1-year rates are within about a quarter point of 3-year rates right now.

Mid-term CDs (18 months to 3 years)

This is where the curve gets slightly better: 4.80% to 4.85% at several banks. It’s a reasonable spot for savings you won’t touch for a couple of years but don’t want in the stock market.

Long-term CDs (4 to 5 years)

A 5-year CD at 5.00% guarantees that rate even if the Fed eventually cuts. The trade-off is flexibility. Let’s put numbers on it. At 5.00% for five years, $10,000 grows to about $12,763. If you instead took a 4.65% 1-year CD and renewals averaged only 3.50% for the next four years, you’d end with about $12,009. The 5-year CD would win by roughly $754.

But that edge depends entirely on rates falling. If rates stay flat or rise, the shorter CD lets you reinvest at the higher yield. Nobody knows which way rates will go, which is why many savers split the difference with a ladder (more on that below).

Where interest rates may head next

CD rates follow the Federal Reserve’s benchmark rate, though not perfectly. On Oct. 28, 2026, the Fed’s policy committee kept the federal funds target range at 3.75% to 4.00%. The vote was 10–2, and both dissenters, Lisa Cook and Beth Hammack, wanted a quarter-point increase, with the statement noting that inflation “remains elevated.” The next meeting is Dec. 8–9.

That matters for savers. When the Fed leans toward higher rates, banks have less reason to cut CD yields, and some may raise them. When the Fed cuts, CD rates usually slide within weeks. Still, banks set rates based on their own funding needs too, which is why top CD rates have drifted down a little in 2026 even without Fed cuts.

We cover the decision and what it means for savings, CDs and debt in our breakdown of the Fed’s October 2026 rate hold.

Early withdrawal penalties: the fine print that matters most

The price of a CD’s higher rate is that your money is locked up. If you pull it out early, you’ll pay a penalty, usually expressed as a set number of days or months of interest. Federal rules require at least seven days of simple interest as a penalty on money withdrawn within the first six days. Beyond that floor, each bank sets its own terms.

Here’s how a few well-known banks structure their penalties, according to NerdWallet’s review of bank disclosures:

Worked example: when a penalty eats into your principal

Say you put $10,000 in a 2-year CD at 4.75% APY with a 180-day interest penalty, then need the money after three months. By then you’ve earned about $115 in interest. The penalty, though, is roughly $234 (180 days of interest at 4.75%). The bank keeps the $115 you earned and takes another $119 from your original deposit. You’d walk away with about $9,881.

That’s why the penalty schedule deserves as much attention as the APY. A slightly lower rate with a 60-day penalty can be the better deal if there’s any real chance you’ll need the cash.

Tip: If you’re unsure about your timeline, look at a no-penalty CD. You’ll give up a bit of yield, but you can withdraw after the first week without losing interest.

CD vs. high-yield savings account: which is better right now?

The best high-yield savings accounts pay about 3.90% to 4.35% APY as of Nov. 1, 2026, per Bankrate. That’s close to short-term CD rates, so the choice comes down to flexibility versus certainty.

A practical rule: keep your emergency fund in a high-yield savings account, where you can reach it the same day. Use CDs for money you’ve already earmarked for a specific date, or for cash beyond your emergency cushion that you’d like to protect from future rate cuts.

How a CD ladder balances yield and access

A CD ladder spreads your money across several maturities so part of it comes due every year. You get longer-term rates on most of your cash while keeping regular access to some of it.

Example: Split $20,000 into five $4,000 CDs using rates available with low minimums as of Nov. 1:

• 1-year CD at 4.65% (CFG Bank, $500 minimum)
• 2-year CD at 4.76% (Happen Bank, $500 minimum)
• 3-year CD at 4.85% (BTG Pactual Bank, $500 minimum)
• 4-year CD at 4.85% (BTG Pactual Bank, $500 minimum)
• 5-year CD at 5.00% (Sallie Mae Bank, $2,500 minimum)

Your blended rate is about 4.82%, and you’d earn roughly $964 in the first year. Each time a CD matures, you either use the money or roll it into a new 5-year CD. After four years, every rung is earning a 5-year rate, and one CD still matures every 12 months.

The downside: managing several accounts, possibly at several banks. Some savers keep it simpler with a three-rung ladder at a single bank.

How to choose the best CD for you

Run through these steps before you open anything:

1. Set the date. Decide when you’ll need the money and pick a term that ends on or before then.
2. Compare APYs, not “rates.” APY includes compounding, so it lets you compare banks on equal footing.
3. Check the minimum deposit. The top rate may require $10,000. A no-minimum CD that pays 0.10 point less can be the better fit.
4. Read the penalty schedule. Know exactly what you’d lose by withdrawing early.
5. Confirm deposit insurance. Banks should be FDIC-insured and credit unions NCUA-insured. Coverage is $250,000 per depositor, per institution, per ownership category.
6. Know the maturity rules. Most CDs automatically renew at whatever rate the bank offers then. You’ll usually get a grace period of about 7 to 10 days to withdraw or switch without penalty. Put the date on your calendar.

If you’re weighing banks you haven’t heard of, our guides to online banks vs. traditional banks and credit unions vs. banks explain how to vet them. Credit union CDs, often called share certificates, carry the same $250,000 federal coverage through the NCUA. You’ll just need to join first.

Common CD mistakes to avoid

• Letting a CD auto-renew at a low rate. Renewal rates are often below the bank’s promotional rate. Shop around during the grace period.
• Locking up your emergency fund. If a surprise bill forces an early withdrawal, the penalty can wipe out months of interest.
• Going over the insurance limit. If you have more than $250,000 at one bank in the same ownership category, the excess isn’t covered. Spread large balances out.
• Ignoring call features. Some higher-yield CDs, especially brokered ones, are “callable,” meaning the bank can end them early if rates fall. That cancels the rate protection you were paying for.
• Chasing the last 0.05%. On $10,000, a 0.05-point difference is $5 a year. Pick the account with the right term and penalty, not just the top number.

Next step: if you’re building a full savings plan around CDs, start with our 25 practical ways to save money, then use our free calculators to map out your goals.

Sources: CD and savings APYs from Bankrate and NerdWallet rate tables (as of Nov. 1, 2026); national averages from the FDIC National Rates (October 2026, via FRED) and Bankrate’s survey (Nov. 1, 2026); penalty terms from NerdWallet’s review of bank disclosures; Federal Reserve FOMC statement (Oct. 28, 2026). Rates change frequently. This article is for educational purposes and isn’t financial advice.